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Tuesday, August 30, 2011 12:04 AM PDT

Today's Reuters Business News Headlines - Yahoo! News: CCB says to sign strategic agreement with BofA within days Asian stocks rise on U.S. data Bank of America to sell China bank stake for $8.3 billion SAG and AFTRA talks continued despite Hurricane Irene Innkeepers sues Cerberus, Chatham over hotel deal FDIC objects to Bank of America $8.5 billion mortgage accord Innkeepers sues Cerberus, Chatham over hotel deal Lowe's trims management in turnaround effort Airlines restart after Irene, face financial hit Boeing 737 re-engine plan seen moving forward PIMCO says betting against debt was a mistake: report Gundlach discussed succeeding Bill Gross at PIMCO: testimony Wall Street surges 2 percent on Greek bank deal; trade thin Sino-Forest investors may have a long wait ahead Bank of America to sell China bank stake for $8.3 billion CCB says to sign strategic agreement with BofA within days Mon,29 Aug 2011 11:43 PM PDT Reuters - HONG KONG (Reuters) - China Construction Bank Corp, the world's No.2 lender by market value, said on Tuesday that it will sign a five-year strategic cooperation agreement with Bank of America Corp within days. Full Story Top Asian stocks rise on U.S. data Mon,29 Aug 2011 11:23 PM PDT Reuters - HONG KONG (Reuters) - Asian stocks rose on Tuesday and European shares looked set to extend gains as strong U.S. consumer spending data soothed some fears that the economy was slipping back into a recession. Full Story Top Bank of America to sell China bank stake for $8.3 billion Mon,29 Aug 2011 07:45 PM PDT Reuters - CHARLOTTE, N.C./HONG KONG (Reuters) - Bank of America Corp is selling about half its stake in China Construction Bank for $8.3 billion, in its latest effort to shed assets and boost capital. Full Story Top SAG and AFTRA talks continued despite Hurricane Irene Mon,29 Aug 2011 06:34 PM PDT Reuters - LOS ANGELES (TheWrap.com) - Lest anyone believe that SAG and AFTRA have lost interest in their latest merger go-around, the two labor groups put out an announcement Monday, touting the fact that their respective merger task forces had gotten together over the weekend for a videoconference bi-coastal chit-chat, despite severe storm conditions in New York. Full Story Top Innkeepers sues Cerberus, Chatham over hotel deal Mon,29 Aug 2011 06:02 PM PDT Reuters - NEW YORK (Reuters) - Innkeepers USA Trust sued Cerberus Capital Management LP and Chatham Lodging Trust over their decision to call off their $1.12 billion purchase out of bankruptcy of 64 of its hotels. Full Story Top FDIC objects to Bank of America $8.5 billion mortgage accord Mon,29 Aug 2011 04:43 PM PDT Reuters - NEW YORK (Reuters) - The FDIC and more than three dozen other investors on Monday lodged objections to Bank of America Corp's $8.5 billion settlement of claims over losses on mortgage-backed securities, joining a growing list of investors and regulators that are challenging the accord. Full Story Top Innkeepers sues Cerberus, Chatham over hotel deal Mon,29 Aug 2011 04:19 PM PDT Reuters - NEW YORK (Reuters) - Innkeepers USA Trust sued Cerberus Capital Management LP and Chatham Lodging Trust over their decision to call off their $1.12 billion purchase out of bankruptcy of 64 of its hotels. Full Story Top Lowe's trims management in turnaround effort Mon,29 Aug 2011 03:41 PM PDT Reuters - NEW YORK (Reuters) - Lowe's Cos , the world's second-largest home improvement chain, said on Monday that three senior executives had left the company as part of a management shake-up aimed at improving its U.S. operations. Full Story Top Airlines restart after Irene, face financial hit Mon,29 Aug 2011 03:36 PM PDT Reuters - WASHINGTON/ATLANTA (Reuters) - U.S. airlines scrambled to put their operations back together in the U.S. Northeast on Monday following Hurricane Irene and braced for a financial hit from extensive storm-related cancellations. Full Story Top Boeing 737 re-engine plan seen moving forward Mon,29 Aug 2011 03:29 PM PDT Reuters - ATLANTA/PARIS (Reuters) - Boeing Co will give an update Tuesday on its plans to revamp its best-selling 737 aircraft in a bid to fight off challenges from European rival Airbus, according to people with knowledge of the matter. Full Story Top PIMCO says betting against debt was a mistake: report Mon,29 Aug 2011 03:26 PM PDT Reuters - NEW YORK (Reuters) - Bill Gross, the manager of the world's largest bond fund, feels like "crying in his beer" for having bet so heavily against U.S. government-related debt earlier this year, the Financial Times reported on Monday. Full Story Top Gundlach discussed succeeding Bill Gross at PIMCO: testimony Mon,29 Aug 2011 03:26 PM PDT Reuters - LOS ANGELES (Reuters) - Star bond fund manager Jeffrey Gundlach was in discussions to leave Trust Company of the West and succeed Bill Gross at Pacific Investment Management in 2009, according to court testimony. Full Story Top Wall Street surges 2 percent on Greek bank deal; trade thin Mon,29 Aug 2011 03:21 PM PDT Reuters - NEW YORK (Reuters) - Stocks soared more than 2 percent in a broad rally on Monday as a merger between two big Greek banks provided a rare bit of encouraging news out of debt-stricken Europe. Full Story Top Sino-Forest investors may have a long wait ahead Mon,29 Aug 2011 03:18 PM PDT Reuters - TORONTO (Reuters) - Sino-Forest, once the biggest forestry company on the Toronto Stock Exchange, is running out of room to maneuver following fraud allegations, a stock trade halt, the departure of its CEO and further downgrades on its debt. Full Story Top Bank of America to sell China bank stake for $8.3 billion Mon,29 Aug 2011 02:46 PM PDT Reuters - CHARLOTTE, N.C./HONG KONG (Reuters) - Bank of America Corp is selling about half its stake in China Construction Bank for $8.3 billion, in its latest effort to shed assets and boost capital. Full Story Top

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