TORONTO (Reuters) - The Toronto Stock Exchange's main index roared 300.80 points higher on Wednesday, climbing back from its recent dive in a broad advance led by strength in the energy and materials sectors. The S Reuters Limited. All Rights Reserved.

Reproduction or redistribution of Reuters content, including framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for... // ReportonBusiness.com

TORONTO (Reuters) - The Toronto Stock Exchange's main index roared 300.80 points higher on Wednesday, climbing back from its recent dive in a broad advance led by strength in the energy and materials sectors. The S Reuters Limited. All Rights Reserved.

Reproduction or redistribution of Reuters content, including framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for... // ReportonBusiness.com

Lehman plans asset sales after record $4 billion loss

NEW YORK (Reuters) - Lehman Brothers sought to restore investor confidence with plans to sell a majority stake in its asset management unit and spin off commercial real estate, but investors questioned its future after a record $3.93 billion quarterly loss. Shares of Wall Street's fourth-largest investment bank failed to rebound on Wednesday, a day after tumbling 45 percent, reflecting disappointment that Lehman Brothers Holdings Inc did not announce concrete asset sales. Lehman will slash its annual dividend, and said it would consider offers to buy the entire company.

Ford cuts 500 more Ontario jobs U.S. sales slide

TORONTO (Reuters) - Ford Canada said on Wednesday it will cut another 500 jobs at its Oakville, Ontario, assembly... // ReportonBusiness.com

Lehman plans asset sales after record $4 billion loss

NEW YORK (Reuters) - Lehman Brothers sought to restore investor confidence with plans to sell a majority stake in its asset management unit and spin off commercial real estate, but investors questioned its future after a record $3.93 billion quarterly loss. Shares of Wall Street's fourth-largest investment bank failed to rebound on Wednesday, a day after tumbling 45 percent, reflecting disappointment that Lehman Brothers Holdings Inc did not announce concrete asset sales. Lehman will slash its annual dividend, and said it would consider offers to buy the entire company.

Ford cuts 500 more Ontario jobs U.S. sales slide

TORONTO (Reuters) - Ford Canada said on Wednesday it will cut another 500 jobs at its Oakville, Ontario, assembly... // ReportonBusiness.com

Lehman plans asset sales after record $4 billion loss

NEW YORK (Reuters) - Lehman Brothers sought to restore investor confidence with plans to sell a majority stake in its asset management unit and spin off commercial real estate, but investors questioned its future after a record $3.93 billion quarterly loss. Shares of Wall Street's fourth-largest investment bank failed to rebound on Wednesday, a day after tumbling 45 percent, reflecting disappointment that Lehman Brothers Holdings Inc did not announce concrete asset sales. Lehman will slash its annual dividend, and said it would consider offers to buy the entire company.

Ford cuts 500 more Ontario jobs U.S. sales slide

TORONTO (Reuters) - Ford Canada said on Wednesday it will cut another 500 jobs at its Oakville, Ontario, assembly... // ReportonBusiness.com

Lehman plans sales, posts $4 billion quarterly loss

NEW YORK (Reuters) - Lehman Brothers Holdings Inc plans to sell a majority stake in its asset management unit and spin off commercial real estate holdings, hoping to restore investor confidence and ensure its survival after reporting a record quarterly loss of about $4 billion. Shares failed to rebound on Wednesday morning after plunging 45 percent a day earlier, reflecting Wall Street disappointment that Lehman did not announce more concrete actions.

Ford cuts 500 more Ontario jobs U.S. sales slide

TORONTO (Reuters) - Ford Canada said on Wednesday it will cut another 500 jobs at its Oakville, Ontario, assembly plant as U.S. sales continue to deteriorate. Ford will scrap the third shift in the paint and body areas of the plant,... // ReportonBusiness.com

Lehman plans sales, posts $4 billion quarterly loss

NEW YORK (Reuters) - Lehman Brothers Holdings Inc plans to sell a majority stake in its asset management unit and spin off commercial real estate holdings, hoping to restore investor confidence and ensure its survival after reporting a record quarterly loss of about $4 billion. Shares failed to rebound on Wednesday morning after plunging 45 percent a day earlier, reflecting Wall Street disappointment that Lehman did not announce more concrete actions.

Ford cuts 500 more Ontario jobs U.S. sales slide

TORONTO (Reuters) - Ford Canada said on Wednesday it will cut another 500 jobs at its Oakville, Ontario, assembly plant as U.S. sales continue to deteriorate. Ford will scrap the third... // ReportonBusiness.com

Lehman plans sales, posts $3.9 billion quarterly loss

NEW YORK (Reuters) - Lehman Brothers Holdings Inc said it plans to sell a majority stake in its investment management unit and spin off commercial real estate assets, but failed to announce specific transactions and posted a third-quarter loss of $3.93 billion. Shares of Wall Street's fourth-largest investment bank gave up some of their overnight gains as investors expressed disappointment that Lehman, whose business model and outlook face wide scrutiny, did not announce more concrete actions.

Ford cuts 500 more Ontario jobs U.S. sales slide

TORONTO (Reuters) - Ford Canada said on Wednesday it will cut another 500 jobs at its Oakville, Ontario, assembly plant as U.S. sales continue to deteriorate.... // ReportonBusiness.com

Lehman plans sales, posts $3.9 billion quarterly loss

NEW YORK (Reuters) - Lehman Brothers Holdings Inc said it plans to sell a majority stake in its investment management unit and spin off commercial real estate assets, but failed to announce specific transactions and posted a third-quarter loss of $3.93 billion. Shares of Wall Street's fourth-largest investment bank gave up some of their overnight gains as investors expressed disappointment that Lehman, whose business model and outlook face wide scrutiny, did not announce more concrete actions.

Toronto stocks jump on resource rebound... // ReportonBusiness.com

Lehman plans sales, posts $3.9 billion quarterly loss

NEW YORK (Reuters) - Lehman Brothers Holdings Inc said it plans to sell a majority stake in its investment management unit and spin off commercial real estate assets, but failed to announce specific transactions and posted a third-quarter loss of $3.93 billion. Shares of Wall Street's fourth-largest investment bank gave up some of their overnight gains as investors expressed disappointment that Lehman, whose business model and outlook face wide scrutiny, did not announce more concrete actions.

Disappointing Lehman results hit world stocks

LONDON (Reuters) - World stocks fell on Wednesday while safe-haven government bonds and the yen rose after U.S. investment bank Lehman Brothers disappointed investors with a bigger-than-expected... // ReportonBusiness.com

Lehman plans sales, sees $3.9 billion loss

NEW YORK (Reuters) - Lehman Brothers Holdings Inc said it plans to sell a majority stake in its investment management division and spin off commercial real estate assets as the struggling U.S. investment bank fights to raise capital. Wall Street's fourth-largest investment bank also reported a much-larger-than-expected third-quarter loss of $3.93 billion, hurt by $5.6 billion of net write-downs.

Disappointing Lehman results hit world stocks

LONDON (Reuters) - World stocks fell on Wednesday while safe-haven government bonds and the yen rose after U.S. investment bank Lehman Brothers disappointed investors with a bigger-than-expected quarterly loss. Lehman, a casualty of the credit crunch, posted a preliminary quarterly loss of $5.92 a share,... // ReportonBusiness.com

Lehman plans sales, sees $3.9 billion loss

NEW YORK (Reuters) - Lehman Brothers Holdings Inc said it plans to sell a majority stake in its investment management division and spin off commercial real estate assets as the struggling U.S. investment bank fights to raise capital. The fourth-largest U.S. investment bank said it has reduced exposure to toxic assets, including cutting its residential mortgage exposure by nearly half, and cut its dividend.

Disappointing Lehman results hit world stocks

LONDON (Reuters) - World stocks fell on Wednesday while safe-haven government bonds and the yen rose after U.S. investment bank Lehman Brothers disappointed investors with a bigger-than-expected quarterly loss. Lehman, a casualty of the credit crunch, posted a preliminary quarterly loss of... // ReportonBusiness.com

RIM launches first flip-phone version of BlackBerry

TORONTO (Reuters) - Research In Motion Ltd is launching a flip version of its popular BlackBerry Pearl smartphone, a move that reasserts its push into the retail consumer market. Like RIM's original Pearl model, the first-ever flip BlackBerry comes loaded with multimedia features such as a video and music player and a 2-megapixel camera with flash, as well as a Web browser and an abridged keyboard.

KDB seeking control of Lehman for $6 billion: report

SEOUL (Reuters) - State-run Korea Development Bank is seeking a controlling stake in Lehman Brothers for about $6 billion, Yonhap reported on Wednesday, citing a high ranking KDB official. South Korean news agency Yonhap quoted the unnamed official as saying the two sides were... // ReportonBusiness.com

RIM launches first flip-phone version of BlackBerry

TORONTO (Reuters) - Research In Motion Ltd is launching a flip version of its popular BlackBerry Pearl smartphone, a move that reasserts its push into the retail consumer market. Like RIM's original Pearl model, the first-ever flip BlackBerry comes loaded with multimedia features such as a video and music player and a 2-megapixel camera with flash, as well as a Web browser and an abridged keyboard.

KDB seeking control of Lehman for $6 billion: report

SEOUL (Reuters) - State-run Korea Development Bank is seeking a controlling stake in Lehman Brothers for about $6 billion, Yonhap reported on Wednesday, citing a high ranking KDB official. South Korean news agency Yonhap quoted the unnamed official as saying the two sides were... // ReportonBusiness.com

Nokia in corporate e-mail deal with Microsoft

HELSINKI (Reuters) - Nokia Oyj said on Wednesday it has signed a deal with Microsoft to expand corporate e-mail access to 80 million Nokia phones as the world's top handset maker battles Blackberry-maker RIM . Nokia said it will enable access to Microsoft's Exchange ActiveSync e-mail from all Nokia phones using latest edition of S60 software, with around 80 million such phones sold so far.

KDB seeking control of Lehman for $6 billion: report

SEOUL (Reuters) - State-run Korea Development Bank is seeking a controlling stake in Lehman Brothers for about $6 billion, Yonhap reported on Wednesday, citing a high ranking KDB official. South Korean news agency Yonhap quoted the unnamed official as saying the two sides were negotiating and... // ReportonBusiness.com

Nokia in corporate e-mail deal with Microsoft

HELSINKI (Reuters) - Nokia Oyj said on Wednesday it has signed a deal with Microsoft to expand corporate e-mail access to 80 million Nokia phones as the world's top handset maker battles Blackberry-maker RIM . Nokia said it will enable access to Microsoft's Exchange ActiveSync e-mail from all Nokia phones using latest edition of S60 software, with around 80 million such phones sold so far.

KDB seeking control of Lehman for $6 billion: report

SEOUL (Reuters) - State-run Korea Development Bank is seeking a controlling stake in Lehman Brothers for about $6 billion, Yonhap reported on Wednesday, citing a high ranking KDB official. South Korean news agency Yonhap quoted the unnamed official as saying the two sides were negotiating and... // ReportonBusiness.com

Housing starts bounce back in August

TORONTO (Reuters) - Housing starts in Canada rose more than expected in August after cooling earlier in the summer, according to figures released by Canada Mortgage and Housing Corp. on Tuesday. Housing starts rose 13 percent in August to a seasonally adjusted annualized rate of 211,000 units from 186,500 units in July, the government-owned corporation reported. That beat the consensus expectation of analysts calling for 195,000 starts.

CI mulls Blackmont swap for Canaccord stake: report

TORONTO (Reuters) - Mutual fund manager CI Financial Income Fund is in preliminary talks to sell investment banking unit Blackmont Capital Inc to Canaccord Capital Inc in exchange for a minority stake in Canaccord, the Globe and Mail newspaper said on Tuesday.... // ReportonBusiness.com

The Canadian government said on Saturday it had struck a deal with General Motors of Canada Ltd. that commits the automaker to invest $290 million at several of its Ontario operations.

The announcement is the second of its kind and may help shore up support for Canada's minority Conservative government in Southern Ontario, where the auto manufacturing sector has been bleeding jobs, on the eve of an election call. An election has been called for October 14, 2008.

Under the agreement, GM will put about $245 million into its St. Catharines plant... // Auto Service World

Housing starts bounce back in August

TORONTO (Reuters) - Housing starts in Canada rose more than expected in August after cooling earlier in the summer, according to figures released by Canada Mortgage and Housing Corp. on Tuesday. Housing starts rose 13 percent in August to a seasonally adjusted annualized rate of 211,000 units from 186,500 units in July, the government-owned corporation reported. That beat the consensus expectation of analysts calling for 195,000 starts.

Manulife to enter Japan mutual fund market

TOKYO (Reuters) - Manulife Financial Corp North America's No. 2 life insurer, said it would enter the Japanese mutual fund business next month to tap the country's $14 trillion in household assets. Manulife executives told an investor conference in Tokyo that it had... // ReportonBusiness.com

Housing starts bounce back in August

TORONTO (Reuters) - Housing starts in Canada rose more than expected in August after cooling earlier in the summer, according to figures released by Canada Mortgage and Housing Corp. on Tuesday. Housing starts rose 13 percent in August to a seasonally adjusted annualized rate of 211,000 units from 186,500 units in July, the government-owned corporation reported. That beat the consensus expectation of analysts calling for 195,000 starts.

Manulife to enter Japan mutual fund market

TOKYO (Reuters) - Manulife Financial Corp North America's No. 2 life insurer, said it would enter the Japanese mutual fund business next month to tap the country's $14 trillion in household assets. Manulife executives told an investor conference in Tokyo that it had... // ReportonBusiness.com

Manulife to enter Japan mutual fund market

TOKYO (Reuters) - Manulife Financial Corp North America's No. 2 life insurer, said it would enter the Japanese mutual fund business next month to tap the country's $14 trillion in household assets. Manulife executives told an investor conference in Tokyo that it had obtained a license for investment trusts, which are similar to mutual funds, and planned to launch global asset allocation products in October.

Toronto stocks tumble on resource demand fears

TORONTO (Reuters) - The Toronto Stock Exchange's main index closed at its lowest level in more than seven months on Monday after early enthusiasm over the U.S. mortgage bailout plan fizzled as worries over slowing growth weighed on resource and tech shares. After jumping more than 2 percent... // ReportonBusiness.com

Fannie, Freddie bailout greeted with cautious optimism

NEW YORK (Reuters) - U.S. mortgage rates fell on Monday after the government seized control of Fannie Mae and Freddie Mac, raising hopes the plan would provide at least temporary respite from troubles in housing and credit markets. Stock prices rallied around the world as investors felt that federal backing could stem some of the pain that has crippled the financial system for over a year.

RIM shares fall as smartphone market seen slowing

TORONTO (Reuters) - Shares of Research In Motion tumbled to a nearly two-month low on Monday, following a report that said the global smartphone market is being hurt by the slowing economy. Research firm Gartner said on Monday that global smartphone sales growth fell by almost half in the second... // ReportonBusiness.com

Fannie, Freddie bailout greeted with cautious optimism

NEW YORK (Reuters) - U.S. mortgage rates fell on Monday after the government seized control of Fannie Mae and Freddie Mac, raising hopes the plan would provide at least temporary respite from troubles in housing and credit markets. Stock prices rallied around the world as investors felt that federal backing could stem some of the pain that has crippled the financial system for over a year.

RIM shares fall as smartphone market seen slowing

TORONTO (Reuters) - Shares of Research In Motion tumbled to a nearly two-month low on Monday, following a report that said the global smartphone market is being hurt by the slowing economy. Research firm Gartner said on Monday that global smartphone sales growth fell by almost half in the second... // ReportonBusiness.com

Fannie, Freddie bailout greeted with cautious optimism

NEW YORK (Reuters) - U.S. mortgage rates fell on Monday after the government seized control of Fannie Mae and Freddie Mac, raising hopes the plan would provide at least temporary respite from troubles in housing and credit markets. Stock prices rallied around the world as investors felt that federal backing could stem some of the pain that has crippled the financial system for over a year.

RIM shares fall as smartphone market seen slowing

TORONTO (Reuters) - Shares of Research In Motion tumbled to a nearly two-month low on Monday, following a report that said the global smartphone market is being hurt by the slowing economy. Research firm Gartner said on Monday that global smartphone sales growth fell by almost half in the second... // ReportonBusiness.com

Fannie, Freddie bailout greeted with joy and anxiety

NEW YORK (Reuters) - Wall Street greeted the U.S. government's seizure of mortgage giants Fannie Mae and Freddie Mac on Monday, hoping it would provide at least temporary respite from the troubles plaguing housing and credit markets. However, many analysts said the bailout of the United States' two biggest mortgage finance companies, which could be the costliest ever, was a symptom of the dismal state of capital markets more than a year into the crisis.

RIM shares fall as smartphone market seen slowing

TORONTO (Reuters) - Shares of Research In Motion tumbled to a nearly two-month low on Monday, following a report that said the global smartphone market is being hurt by the slowing economy. Research firm Gartner said on Monday that... // ReportonBusiness.com

Fannie, Freddie bailout greeted with joy and anxiety

NEW YORK (Reuters) - Wall Street greeted the U.S. government's seizure of mortgage giants Fannie Mae and Freddie Mac on Monday, hoping it would provide at least temporary respite from the troubles plaguing housing and credit markets. However, many analysts said the bailout of the United States' two biggest mortgage finance companies, which could be the costliest ever, was a symptom of the dismal state of capital markets more than a year into the crisis.

RIM shares fall as smartphone market seen slowing

TORONTO (Reuters) - Shares of Research In Motion tumbled to a nearly two-month low on Monday, following a report that said the global smartphone market is being hurt by the slowing economy. Research firm Gartner said on Monday that... // ReportonBusiness.com

Fannie, Freddie bailout greeted with joy and anxiety

NEW YORK (Reuters) - Wall Street greeted the U.S. government's seizure of mortgage giants Fannie Mae and Freddie Mac on Monday, hoping it would provide at least temporary respite from the troubles plaguing housing and credit markets. However, many analysts said the bailout of the United States' two biggest mortgage finance companies, which could be the costliest ever, was a symptom of the dismal state of capital markets more than a year into the crisis.

RIM shares fall as smartphone market seen slowing

TORONTO (Reuters) - Shares of Research In Motion tumbled to a nearly two-month low on Monday, following a report that said the global smartphone market is being hurt by the slowing economy. Research firm Gartner said on Monday that... // ReportonBusiness.com

Fannie, Freddie bailout greeted with joy and anxiety

NEW YORK (Reuters) - Wall Street greeted the U.S. government's seizure of mortgage giants Fannie Mae and Freddie Mac on Monday, hoping it would provide at least temporary respite from the troubles plaguing housing and credit markets. However, many analysts said the bailout of the United States' two biggest mortgage finance companies, which could be the costliest ever, was a symptom of the dismal state of capital markets more than a year into the crisis.

RIM shares fall as smartphone market seen slowing

TORONTO (Reuters) - Shares of Research In Motion tumbled to a nearly two-month low on Monday, following a report that said the global smartphone market is being hurt by the slowing economy. Research firm Gartner said on Monday that... // ReportonBusiness.com

Fannie, Freddie bailout greeted with joy and anxiety

NEW YORK (Reuters) - Wall Street greeted the U.S. government's seizure of mortgage giants Fannie Mae and Freddie Mac on Monday, hoping it would provide at least temporary respite from the troubles plaguing housing and credit markets. However, many analysts said the bailout of the United States' two biggest mortgage finance companies, which could be the costliest ever, was a symptom of the dismal state of capital markets more than a year into the crisis.

Manulife investment officer to become CEO in May

TORONTO (Reuters) - Manulife Financial said on Monday Donald Guloien, its chief investment officer, will become president and chief executive of the insurance company when Dominic D'Alessandro retires in May 2009. Guloien, currently... // ReportonBusiness.com