* Federal Reserve Chairman Ben Bernanke gives an update on the Fed’s balance sheet.
* PepsiCo reports third-quarter results.
* European Central Bank and Bank of England report interest rate decisions.
* Companies on the S&P are expected to show an overall earnings decline of almost 25 percent, according to Thomson Reuters research. Reporting on Wednesday are Alcoa, Monsanto, Family Dollar Stores and Costco.
Dow Chemical plans to sell a new rooftop shingle next year that converts sunlight into electricity and can be integrated with standard asphalt shingles. It is expected to generate $5 billion in revenue by 2015. For more Green Business news click here.
Michael Steinberger says he is just a concerned friend sending a message to France. Steinberger, the wine critic for online magazine Slate says in his book “Au Revoir To All That. Food, Wine and the End of France” the nation that spawned food revolutions worldwide is in dire need of help to renew its own passion for good cuisine.
An avowed Francophile, he isn’t surprised the book doesn’t have a French publisher. “My hope has always been that it would be published in France. I don’t think the book can in any way be read as being somehow anti-French. I think it is a love letter to France from a concerned friend,” he said in an interview with Reuters.
As the largest initial public offering on a U.S. exchange in 18 months, the share sale of Banco Santander (Brazil) will likely attract plenty of demand even as some investors balk at the price of the stock.
* Santander’s Brazilian unit is expected to launch a $8.78 billion IPO, the largest U.S.-listed offering in 18 months.
* Non-farm payrolls for September probably fell by the smallest amount in a year, more proof the economy is pulling out of recession, but the jobless rate likely ticked up.