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Sunday, July 31, 2011 12:07 AM PDT

Today's Reuters Business News Headlines - Yahoo! News: Debt and data suggest more losses U.S. Gulf oil patch restores operations after Don German finance minister: Greek deal no transfer union Billionaire Wilbur Ross downplays downgrade threat Answers to the 7 big "what-ifs" of debt default Billionaire Ross bets on v-shaped Irish recovery Analysis: Answers to the 7 big "what-ifs" of debt default Wall Street Week Ahead: Debt and data suggest more losses TSX dives on weak data, U.S. debt deadlock Debt crisis strains banks, threatens consumers Growth anemic, debt row poses recession risk Arctic Glacier says lenders grant waivers Merck to slash jobs in cost-savings drive Ford hopes to avoid strike in labor talks Wall Street ends worst week in year on debt stalemate Debt and data suggest more losses Sat,30 Jul 2011 03:45 PM PDT Reuters - NEW YORK (Reuters) - Stocks are likely to face more selling pressure next week as the Tuesday deadline draws near for raising the U.S. debt ceiling and Washington remains paralyzed by political brinkmanship. Full Story Top U.S. Gulf oil patch restores operations after Don Sat,30 Jul 2011 10:14 AM PDT Reuters - HOUSTON (Reuters) - Offshore oil and natural gas producers re-staffed their production platforms in the Gulf of Mexico on Saturday, the day after Tropical Storm Don made landfall on the south Texas coast. Full Story Top German finance minister: Greek deal no transfer union Sat,30 Jul 2011 09:35 AM PDT Reuters - BERLIN (Reuters) - German Finance Minister Wolfgang Schaeuble denied on Saturday that this month's Greek bailout deal paves the way for a future 'transfer union' in which euro zone countries are liable for each others' debts. Full Story Top Billionaire Wilbur Ross downplays downgrade threat Sat,30 Jul 2011 08:18 AM PDT Reuters - DUBLIN (Reuters) - A downgrade of sovereign debt would not necessarily have a big impact on financial markets, billionaire investor Wilbur Ross said. Full Story Top Answers to the 7 big "what-ifs" of debt default Sat,30 Jul 2011 06:09 AM PDT Reuters - NEW YORK (Reuters) - The debt negotiations are getting down to the wire. Republican and Democratic lawmakers are scrambling to broker a deal to raise the country's $14.3 trillion debt ceiling before Tuesday, when the Treasury will no longer be able to borrow funds to meet all of its obligations. It all means the United States could face the possibility of defaulting on its debt and losing its prized triple-A credit rating. Full Story Top Billionaire Ross bets on v-shaped Irish recovery Sat,30 Jul 2011 05:53 AM PDT Reuters - DUBLIN (Reuters) - Positive news from Ireland is prompting a growing number of investors to look at the troubled euro zone economy, said billionaire Wilbur Ross, who this week invested 300 million euros in its largest lender. Full Story Top Analysis: Answers to the 7 big "what-ifs" of debt default Fri,29 Jul 2011 03:45 PM PDT Reuters - NEW YORK (Reuters) - The debt negotiations are getting down to the wire. Republican and Democratic lawmakers are scrambling to broker a deal to raise the country's $14.3 trillion debt ceiling before Tuesday, when the Treasury will no longer be able to borrow funds to meet all of its obligations. It all means the United States could face the possibility of defaulting on its debt and losing its prized triple-A credit rating. Full Story Top Wall Street Week Ahead: Debt and data suggest more losses Fri,29 Jul 2011 03:30 PM PDT Reuters - NEW YORK (Reuters) - Stocks are likely to face more selling pressure next week as the Tuesday deadline draws near for raising the U.S. debt ceiling and Washington remains paralyzed by political brinkmanship. Full Story Top TSX dives on weak data, U.S. debt deadlock Fri,29 Jul 2011 03:06 PM PDT Reuters - TORONTO (Reuters) - Toronto's main stock index closed sharply lower on Friday, though off the one-month low it hit earlier in the day, as weak economic data and the U.S. debt crisis pushed investors to the safety of the sidelines. Full Story Top Debt crisis strains banks, threatens consumers Fri,29 Jul 2011 02:46 PM PDT Reuters - NEW YORK (Reuters) - The crisis over raising the debt ceiling may have been manufactured by politicians, as many on Wall Street charge, but its effect on consumers and the broader economy is likely to prove very real. Full Story Top Growth anemic, debt row poses recession risk Fri,29 Jul 2011 02:35 PM PDT Reuters - WASHINGTON (Reuters) - The economy stumbled badly in the first half of 2011 and came dangerously close to contracting in the January-March period, raising the risk of a recession if a standoff over the nation's debt does not end quickly. Full Story Top Arctic Glacier says lenders grant waivers Fri,29 Jul 2011 02:30 PM PDT Reuters - (Reuters) - Packaged ice maker Arctic Glacier Income Fund said it reached an agreement with its lenders to waive some covenants in its credit facilities, taking some heat off the debt-ridden company. Full Story Top Merck to slash jobs in cost-savings drive Fri,29 Jul 2011 02:29 PM PDT Reuters - NEW YORK (Reuters) - Merck & Co Inc plans to cut another 12,000 to 13,000 jobs by late 2015 to wring out additional annual cost savings of up to $1.5 billion that can be plowed back into research and deal making. Full Story Top Ford hopes to avoid strike in labor talks Fri,29 Jul 2011 02:27 PM PDT Reuters - DEARBORN, Michigan (Reuters) - Ford Motor Co's labor chief said the U.S. automaker hopes to avoid a strike in its talks for a new labor deal with the United Auto Workers union, which officially began on Friday. Full Story Top Wall Street ends worst week in year on debt stalemate Fri,29 Jul 2011 02:25 PM PDT Reuters - NEW YORK (Reuters) - Stocks ended the worst week in a year as time runs out on Washington to reach agreement before the government loses its ability to borrow money. Full Story Top

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