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Tuesday, August 2, 2011 12:06 AM PDT

Today's Reuters Business News Headlines - Yahoo! News: Japan primes markets for FX intervention Instant view: Toyota posts big Q1 loss CKI-led group to buy Northumbrian Water for $3.92 billion Asian stocks fall on weak data; eyes on yen Toyota posts big first quarter loss hurt by quake, yen Toyota posts big first quarter loss hurt by quake, yen ECB eyed for signs of growing rate hike caution Debt still a threat to global economy: report Debt battle set to draw to close, for now Factbox: Key elements of debt deal House Democratic leader Pelosi to back debt bill Bank of Korea buys gold as dollar, euro lose clout Metro says market tough as profit slumps Star Alliance shelves plan to induct Air India Pfizer believers await more reassurance Japan primes markets for FX intervention Mon,1 Aug 2011 11:51 PM PDT Reuters - TOKYO (Reuters) - Japan primed financial markets on Tuesday for currency intervention after the yen tested record highs overnight, signaling it may try to tame the unit with a combination of yen-selling and monetary easing. Full Story Top Instant view: Toyota posts big Q1 loss Mon,1 Aug 2011 11:36 PM PDT Reuters - TOKYO (Reuters) - Toyota Motor Corp reported its first quarterly loss in two years on Tuesday as Japan's biggest earthquake on record hammered production and the yen's rise hit profitability on exports. Full Story Top CKI-led group to buy Northumbrian Water for $3.92 billion Mon,1 Aug 2011 11:30 PM PDT Reuters - HONG KONG (Reuters) - A consortium led by Hong Kong tycoon Li Ka-shing's Cheung Kong Infrastructure Holdings (CKI) has agreed to take over Northumbrian Water Group Plc in an all-cash deal which values the British utility at about 2.41 billion pounds ($3.92 billion). Full Story Top Asian stocks fall on weak data; eyes on yen Mon,1 Aug 2011 11:27 PM PDT Reuters - SINGAPORE (Reuters) - Asian shares fell on Tuesday as sluggish U.S. and global manufacturing data added to concerns about the health of the world economy, while a strengthening yen prompted speculation that Tokyo may intervene in the markets to curb the currency. Full Story Top Toyota posts big first quarter loss hurt by quake, yen Mon,1 Aug 2011 11:16 PM PDT Reuters - TOKYO (Reuters) - Toyota Motor Corp reported its first quarterly loss in two years on Tuesday as Japan's biggest earthquake on record hammered production and the yen's rise hit profitability on exports. The company raised its annual forecast. Full Story Top Toyota posts big first quarter loss hurt by quake, yen Mon,1 Aug 2011 11:15 PM PDT Reuters - TOKYO (Reuters) - Toyota Motor Corp reported its first quarterly loss in two years on Tuesday as Japan's biggest earthquake on record hammered production and the yen's rise hit profitability on exports. The company raised its annual forecast. Full Story Top ECB eyed for signs of growing rate hike caution Mon,1 Aug 2011 11:09 PM PDT Reuters - FRANKFURT (Reuters) - Financial markets will be watching the European Central Bank on Thursday for any hints that recent signs of an economic slowdown and the unrelenting debt crisis have lowered the chances of another rate hike this year. Full Story Top Debt still a threat to global economy: report Mon,1 Aug 2011 10:57 PM PDT Reuters - BEIJING (Reuters) - The United States' debt woes still threaten the global economy despite a last-minute deal struck by the White House and political party leaders, China's main official newspaper said on Tuesday, nonetheless adding there was no short-term escape from the dominance of the dollar. Full Story Top Debt battle set to draw to close, for now Mon,1 Aug 2011 10:57 PM PDT Reuters - WASHINGTON (Reuters) - The United States is poised to step back from the brink of economic disaster on Tuesday as a bitterly fought deal to cut the budget deficit is expected to clear the Senate and President Barack Obama's desk. Full Story Top Factbox: Key elements of debt deal Mon,1 Aug 2011 10:57 PM PDT Reuters - (Reuters) - President Barack Obama announced on Sunday that Republican and Democratic leaders had agreed on a last-ditch deal to raise the U.S. borrowing limit and avoid a catastrophic default, and he urged lawmakers to "do the right thing" and approve the agreement. Full Story Top House Democratic leader Pelosi to back debt bill Mon,1 Aug 2011 10:57 PM PDT Reuters - WASHINGTON (Reuters) - House of Representatives Democratic Leader Nancy Pelosi plans to vote for a bill to raise the government's debt ceiling, a Democratic Party aide said on Monday. Full Story Top Bank of Korea buys gold as dollar, euro lose clout Mon,1 Aug 2011 10:54 PM PDT Reuters - SEOUL (Reuters) - South Korea spent more than a billion dollars in its first gold purchase in more than a decade, as uncertainty about global growth and sovereign debt push central banks around the world to diversify foreign reserves. Full Story Top Metro says market tough as profit slumps Mon,1 Aug 2011 10:53 PM PDT Reuters - DUESSELDORF, Germany (Reuters) - Metro , the world's No. 4 retailer, missed expectations for second quarter results as high food prices and the European debt crisis hit consumer sentiment and said its 2011 earnings target depended on economic improvements. Full Story Top Star Alliance shelves plan to induct Air India Mon,1 Aug 2011 09:51 PM PDT Reuters - MUMBAI (Reuters) - State-run Air India's plan to join Star Alliance, a consortium of global airlines, has been put on hold as the loss making Indian carrier had not met the minimum joining conditions. Full Story Top Pfizer believers await more reassurance Mon,1 Aug 2011 09:06 PM PDT Reuters - NEW YORK (Reuters) - Pfizer Inc is expected to report lower quarterly earnings on Tuesday, hurt by competition from generic copies of its Lipitor cholesterol fighter, but investors will focus mainly what the company plans to do after Lipitor faces U.S. generics in November. Full Story Top

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