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Wednesday, August 24, 2011 12:37 AM PDT

Today's Reuters Business News Headlines - Yahoo! News: European stocks seen up Asia rally runs out of steam China COSCO seeks to reassure shipowners over unpaid bills Japan needs 3 percent nominal GDP growth: Moody's Brent crude above $109; hopes pinned on Fed U.S. recovery to be slow, modest: Bank of Canada official Some gold bulls say time to cash in, rally overdone Disney axes Marvel's marketing department: report New MSNBC host Al Sharpton speaks out about new gig Toyota looks to regain momentum with new Camry Analysis: Eurozone bank doubts worse for lack of deposits BofA shares drop, debt insurance costs jump TSX rallies more than 2 pct on resources, BMO Hopes for another Fed rescue drive 3 percent rally on Wall St Sino-Forest shares slide after S&P's 2nd downgrade Canadian dollar pares gains but manages to end higher European stocks seen up Asia rally runs out of steam Tue,23 Aug 2011 11:56 PM PDT Reuters - SINGAPORE (Reuters) - European shares may rise on Wednesday on speculation the Federal Reserve may signal further policy moves to support the struggling U.S. economy, even as a rally in Asian stock spluttered out. Full Story Top China COSCO seeks to reassure shipowners over unpaid bills Tue,23 Aug 2011 11:36 PM PDT Reuters - SINGAPORE/HONG KONG (Reuters) - China COSCO Holdings , the country's top shipping company, sought to reassure investors on Wednesday that negotiations with shipowners over unpaid bills would be resolved and its business remained strong. Full Story Top Japan needs 3 percent nominal GDP growth: Moody's Tue,23 Aug 2011 10:30 PM PDT Reuters - TOKYO (Reuters) - Japan must achieve nominal economic growth of 3 percent annually to bring its bulging debt under control as its aim of doubling the 5-percent sales tax by mid-decade would not be enough to achieve fiscal rebuilding, Moody's Investors Service said. Full Story Top Brent crude above $109; hopes pinned on Fed Tue,23 Aug 2011 10:16 PM PDT Reuters - SINGAPORE (Reuters) - Brent crude prices steadied above $109 on Wednesday as investors pinned their hopes on the U.S. Federal Reserve to inject fresh stimulus to boost the world's largest economy. Full Story Top U.S. recovery to be slow, modest: Bank of Canada official Tue,23 Aug 2011 09:58 PM PDT Reuters - MUMBAI (Reuters) - Economic recovery in the United States will be "slow" and "modest," Tiff Macklem, senior deputy governor of Bank of Canada, said on Wednesday. Full Story Top Some gold bulls say time to cash in, rally overdone Tue,23 Aug 2011 08:21 PM PDT Reuters - NEW YORK/SINGAPORE (Reuters) - As gold prices near $2,000 an ounce, some bulls say it's time to take money off the table after the safe-haven rally extended too far too fast in recent weeks. Full Story Top Disney axes Marvel's marketing department: report Tue,23 Aug 2011 08:20 PM PDT Reuters - (Reuters) - Entertainment conglomerate Walt Disney Co axed Marvel Studios' marketing department as it seeks to cut film costs in a move that comes right after the company showcased "The Avengers," Marvel's first movie under Disney, at their fan D23 convention over the weekend, Bloomberg said. Full Story Top New MSNBC host Al Sharpton speaks out about new gig Tue,23 Aug 2011 04:57 PM PDT Reuters - LOS ANGELES (TheWrap.com) - When MSNBC CEO Phil Griffin announced Tuesday that Al Sharpton would be taking over the 6 p.m. slot with the new show "Politics Nation," he spoke about the decade-long relationship he has developed with the minister and civil rights activist. Full Story Top Toyota looks to regain momentum with new Camry Tue,23 Aug 2011 04:47 PM PDT Reuters - DETROIT (Reuters) - Toyota Motor Co showed off its all-new Camry on Tuesday, aiming to recover lost sales momentum with price cuts and a high-powered ad campaign for its flagship sedan that remains America's best-selling car. Full Story Top Analysis: Eurozone bank doubts worse for lack of deposits Tue,23 Aug 2011 03:40 PM PDT Reuters - NEW YORK (Reuters) - European banks like Societe Generale and Dexia SA are reeling from bad loans, but they are also suffering from a less obvious problem: their reliance on bond markets to fund operations. Full Story Top BofA shares drop, debt insurance costs jump Tue,23 Aug 2011 03:21 PM PDT Reuters - CHARLOTTE, North Carolina (Reuters) - Bank of America Corp shares posted their steepest drop in 2-1/2 years on Tuesday as investors worried that the biggest U.S. bank might face big writeoffs. Full Story Top TSX rallies more than 2 pct on resources, BMO Tue,23 Aug 2011 02:32 PM PDT Reuters - TORONTO (Reuters) - The TSX posted its biggest gain in nearly two weeks on Tuesday as resource issues rose with commodity prices and financial issues jumped on surprisingly strong Bank of Montreal earnings. Full Story Top Hopes for another Fed rescue drive 3 percent rally on Wall St Tue,23 Aug 2011 02:19 PM PDT Reuters - NEW YORK (Reuters) -Stocks shot 3 percent higher on Tuesday on speculation Federal Reserve Chairman Ben Bernanke this week would signal new help for the economy, giving investors hope a four-week rout was nearing an end. Full Story Top Sino-Forest shares slide after S&P's 2nd downgrade Tue,23 Aug 2011 01:59 PM PDT Reuters - TORONTO (Reuters) - Shares of Sino-Forest fell more than 15 percent on Tuesday after rating agency Standard & Poor's once again lowered its credit rating on the Chinese forestry company, which has been accused of fraud. Full Story Top Canadian dollar pares gains but manages to end higher Tue,23 Aug 2011 01:56 PM PDT Reuters - TORONTO (Reuters) - The Canadian dollar finished slightly firmer on Tuesday, but was a laggard against the U.S. currency as it was largely left out of a global shift to riskier assets. Full Story Top

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