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Tuesday, August 23, 2011 12:03 AM PDT

Today's Reuters Business News Headlines - Yahoo! News: China flash PMI helps lift shares, eyes on Europe Asia needs more high quality jobs to maintain growth: ADB Convatec bid for Kinetic worth $6 billion: report UBS slashes 3,500 jobs in cost-cutting drive Brent rises toward $109 as fighting continues in Libya China factory output cools in August: HSBC Biden: China didn't need reassurance on U.S. economy Deutsche Bank knew mortgage co it bought lied: Justice Dept Gold climbs to record above $1,910 on growth fears Foster's seeks to pressure SABMiller with big payout First countries enter Oscar foreign-language race Fed's Bullard says FOMC to act if economy sags: report Judge allows intervention in BofA $8.5 billion pact Foster's seeks to pressure SABMiller with big payout Netflix, Telemundo make deal for streaming content China flash PMI helps lift shares, eyes on Europe Mon,22 Aug 2011 11:50 PM PDT Reuters - SINGAPORE (Reuters) - European shares were set to follow Asian gains on Tuesday after a survey of Chinese factory output soothed fears of a hard landing for the world's No.2 economy, but gold hit a record on persistent concerns about the health of the developed world. Full Story Top Asia needs more high quality jobs to maintain growth: ADB Mon,22 Aug 2011 11:50 PM PDT Reuters - SINGAPORE (Reuters) - Developing Asia needs to create more high quality jobs if the region is to sustain the rapid economic expansion seen over the past two decades, the Asian Development Bank said on Tuesday. Full Story Top Convatec bid for Kinetic worth $6 billion: report Mon,22 Aug 2011 11:31 PM PDT Reuters - STOCKHOLM (Reuters) - A rival bid for Kinetic Concepts Inc , a U.S. maker of medical devices used in wound care, by medical technology firm Convatec is worth 40 billion crowns ($6.3 billion), Swedish daily Dagens Industri reported on Tuesday, citing sources. Full Story Top UBS slashes 3,500 jobs in cost-cutting drive Mon,22 Aug 2011 11:07 PM PDT Reuters - ZURICH (Reuters) - Swiss bank UBS plans to slash around 3,500 jobs, almost half of them from its investment bank, as it seeks to shave some 2 billion Swiss francs from annual costs by the end of 2013. Full Story Top Brent rises toward $109 as fighting continues in Libya Mon,22 Aug 2011 10:52 PM PDT Reuters - SINGAPORE (Reuters) - Brent crude rose toward $109 on Tuesday as fighting in Libya continued and in anticipation of a fall in U.S. crude stockpiles. Full Story Top China factory output cools in August: HSBC Mon,22 Aug 2011 10:32 PM PDT Reuters - BEIJING (Reuters) - China's factory sector is likely to slow slightly for a second consecutive month in August as sluggish overseas demand saps new orders, HSBC's China Flash PMI showed on Tuesday. Full Story Top Biden: China didn't need reassurance on U.S. economy Mon,22 Aug 2011 09:22 PM PDT Reuters - TOKYO (Reuters) - Vice President Joe Biden said on Monday China's leaders did not seek reassurances about the weak U.S. economy, and he called Xi Jinping -- the man expected to take over as China's next president -- pragmatic and strong. Full Story Top Deutsche Bank knew mortgage co it bought lied: Justice Dept Mon,22 Aug 2011 08:48 PM PDT Reuters - New York (Reuters) - Deutsche Bank AG knew in 2006 that a mortgage company it was preparing to buy lied to the U.S. government about its mortgages, yet went ahead with the purchase and should be held financially responsible, the Justice Department said on Monday. Full Story Top Gold climbs to record above $1,910 on growth fears Mon,22 Aug 2011 08:34 PM PDT Reuters - SINGAPORE (Reuters) - Spot gold soared to an all-time high above $1,910 on Tuesday, scoring a record top for a fourth consecutive session, as persistent worries about global economic growth burnished bullion's safe-haven appeal. Full Story Top Foster's seeks to pressure SABMiller with big payout Mon,22 Aug 2011 07:48 PM PDT Reuters - MELBOURNE (Reuters) - Australian brewer Foster's Group sought to put pressure on SABMiller to up its $10 billion hostile takeover offer, unveiling on Tuesday a A$500 million ($521 million) capital return even as profits slid. Full Story Top First countries enter Oscar foreign-language race Mon,22 Aug 2011 06:38 PM PDT Reuters - LOS ANGELES (TheWrap.com) - The Academy's often controversial and always interesting foreign-language race is picking up a little steam, with Romania, Morocco and Venezuela submitting their entries to join Greece and Poland this year. Full Story Top Fed's Bullard says FOMC to act if economy sags: report Mon,22 Aug 2011 06:31 PM PDT Reuters - TOKYO (Reuters) - The Federal Reserve will take action if the economy weakens substantially and deflation reappears, a senior Fed official said in an interview with Japan's Nikkei business daily published on Tuesday. Full Story Top Judge allows intervention in BofA $8.5 billion pact Mon,22 Aug 2011 05:06 PM PDT Reuters - NEW YORK (Reuters) - A New York state judge granted the request of dozens of investors including pension funds, insurers and several Federal Home Loan Banks to intervene in Bank of America Corp's proposed $8.5 billion settlement with investors who lost money on mortgage-backed securities. Full Story Top Foster's seeks to pressure SABMiller with big payout Mon,22 Aug 2011 04:34 PM PDT Reuters - MELBOURNE (Reuters) - Foster's Group sought on Tuesday to put pressure on hostile bidder SABMiller to raise its $10 billion offer, unveiling plans for a A$500 million ($521 million) capital return, even as earnings slid and its market share shrank. Full Story Top Netflix, Telemundo make deal for streaming content Mon,22 Aug 2011 04:23 PM PDT Reuters - NEW YORK (TheWrap.com) - Netflix subscribers in Latin America will be able to stream up to 1,200 hours per year of Telemundo programing under a deal announced Monday. Full Story Top

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