BUSINESS News, Jul 05, 2011

ECB to look at best Greek rating even in default: report Mon,4 Jul 2011 11:47 PM PDT Reuters - FRANKFURT (Reuters) - The European Central Bank will accept Greek government bonds as collateral until all rating agencies rate them as having defaulted, the Financial Times said on Tuesday, citing a financial sector source. Full Story1

Analysis: China tries to shine a light on "shadow" loans Mon,4 Jul 2011 11:36 PM PDT Reuters - BEIJING (Reuters) - Chinese regulators are playing a game of hide and seek with the country's lenders, trying to uncover deals struck with the intention of evading official loan restrictions. Full Story1

Dollar gains on short covering; stocks dip Mon,4 Jul 2011 11:03 PM PDT Reuters - HONG KONG (Reuters) - The U.S. dollar rose from the day's lows on a broad bout of short covering on Tuesday while Asian stocks pulled back slightly from a one-month high as some investors took profits from their recent rally. Full Story1

Bombardier to cut jobs in Britain: source Mon,4 Jul 2011 08:54 PM PDT Reuters - LONDON (Reuters) - Canadian aircraft and train maker Bombardier is to cut jobs at its plant in Derby, central England, after losing out to German group Siemens in the battle for a big British government contract, a source told Reuters. Full Story1

Analysis: Natural resources face brunt of China stocks scandal Mon,4 Jul 2011 08:49 PM PDT Reuters - HONG KONG (Reuters) - The accounting troubles and short-seller attacks plaguing Chinese companies have spared few industries, though one sector appears to be a common target. Full Story1

GM's China car JV says H1 auto sales rise Mon,4 Jul 2011 07:42 PM PDT Reuters - BEIJING (Reuters) - General Motors' car venture in Shanghai said it sold 612,072 vehicles in the first half of the year, up 27.5 percent from a year earlier. Full Story1

Tokyo Stock Exchange proposes tender offer for OSE: report Mon,4 Jul 2011 05:43 PM PDT Reuters - TOKYO (Reuters) - Tokyo Stock Exchange has proposed a tender offer for Osaka Securities Exchange Co , Japan's Asahi newspaper reported on Tuesday, as the two bourses proceed in merger talks aimed at surviving a wave of industry consolidation. Full Story1

Hana says $4.3 billion KEB deal to be extended to December Mon,4 Jul 2011 05:19 PM PDT Reuters - SEOUL (Reuters) - South Korea's Hana Financial Group said on Tuesday its $4.3 billion deal to take over private equity fund Lone Star's controlling stake in Korea Exchange Bank would be extended for six months to December. Full Story1

Tokyo Stock Exchange proposing tender offer for OSE: report Mon,4 Jul 2011 04:38 PM PDT Reuters - TOKYO (Reuters) - Tokyo Stock Exchange has proposed a tender offer for Osaka Securities Exchange Co as the two bourses proceed in merger talks, Japan's Asahi newspaper reported on Tuesday. Full Story1

S&P warning adds default threat to Greece's bailout Mon,4 Jul 2011 03:45 PM PDT Reuters - ATHENS (Reuters) - Greece would likely be in default if it follows a debt rollover plan pushed by French banks, S&P warned on Monday, deepening the pain of a bailout that one European official said will cost Athens sovereignty and jobs. Full Story1

Greek banks could survive short-lived selective default: bankers Mon,4 Jul 2011 03:45 PM PDT Reuters - ATHENS (Reuters) - Greek banks would not be wrecked by a "selective default" on a proposed debt rollover if it was lifted quickly, Greek bankers told Reuters on Monday. Full Story1

Greece aims to halt recession, return to growth: ministry Mon,4 Jul 2011 03:45 PM PDT Reuters - ATHENS (Reuters) - The Greek government's next steps will seek to halt the economic downturn and help the economy return to growth, the country's finance minister said on Monday. Full Story1

Detroit automakers log strong sales in June Mon,4 Jul 2011 03:09 PM PDT Reuters - TORONTO (Reuters) - Detroit-based automakers reported higher Canadian sales last month, led by Ford Motor Co of Canada, which said on Monday that demand for fuel-efficient cars helped it record its best June in 22 years. Full Story1

TSX touches near 1-month high on Wall Street catch-up Mon,4 Jul 2011 02:56 PM PDT Reuters - TORONTO (Reuters) - Toronto's main stock index rose for a fifth straight session to touch its highest point in nearly a month on Monday, playing catch-up with U.S. markets, which rallied on Friday when Canadian markets were closed. Full Story1

Jovian in talks to sell ETF stake to Korea's Mirae Mon,4 Jul 2011 02:41 PM PDT Reuters - TORONTO (Reuters) - Jovian Capital Corp is in talks to sell its 60 percent stake in exchange traded funds business BetaPro Management to South Korea's Mirae Asset Global Investments Co, Jovian said on Monday. Full Story1

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