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1. TSX rally fizzles as Greek fears mount

   2012-05-16 22:34:16 GMT : (Markets - Equity/Americas)

   TORONTO: Canada's main stock index fell to a seven-month low on Wednesday after news that the European Central Bank had stopped funding operations for some Greek banks rattled financial markets, erasing resource gains on the back of strong US economic data. Markets retreated after the ECB confirmed a Reuters report that it had ceased providing liquidity to some of Greece's most undercapitalize...

2. Euro, US stocks fall on ECB, Fed minutes

   2012-05-16 22:32:46 GMT : (Markets - Equity/Americas)

   NEW YORK: US stocks and the euro slid on Wednesday on news that some Greek banks face emergency funding needs, while minutes from the Federal Reserve's April meeting showed US economic prospects remain sobering. The European Central Bank stopped funding operations for some Greek banks as they are undercapitalized, the ECB said, confirming a Reuters report that had fanned concerns about Greece'...

3. Baldwin, Minogue on deck for Cannes AIDS gala

   2012-05-16 22:28:38 GMT : (Arts & Leisure/Music)

   CANNES: Alec Baldwin, Kylie Minogue and Janet Jackson will be among the hosts of a star-studded AIDS fundraising gala on the sidelines of the Cannes Film Festival, organisers said Wednesday. The American AIDS research foundation amfAR said the glittering May 24 event in Antibes, just down from Cannes on the French Riviera, would also draw German-born Chanel designer Karl Lagerfeld and US film...

4. "Social Network" writer to pen Steve Jobs film script

   2012-05-16 22:26:12 GMT : (Arts & Leisure/Movies)

   SAN FRANCISCO: Sony Pictures Entertainment on Wednesday said that the Academy Award winning screenwriter behind "The Social Network" will write the script for a film about Apple co-founder Steve Jobs. Aaron Sorkin will adapt the hot-selling biography by journalist Walter Isaacson for the motion picture screen, according to Sony. "Steve Jobs's story is unique: he was one of the most revoluti...

5. Stars, sexism row share Cannes opening spotlight

   2012-05-16 22:23:19 GMT : (Arts & Leisure/Movies)

   CANNES, France: The Cannes Film Festival opened on Wednesday with a sweet-natured family romp by Wes Anderson, as women jurors spoke up to quash a row over the all-male line-up for the competition. The red-carpet premiere of Anderson's bittersweet teen elopement fantasy "Moonrise Kingdom" kicked off 12 days of screenings, deal-making and champagne-fuelled parties on the French Riviera. The ...

6. Windies skipper Sammy says he owes it all to Lord's

   2012-05-16 22:20:42 GMT : (Sports/Cricket)

   LONDON: Darren Sammy will look to put the knowledge of Lord's gained from his time as an MCC Young Cricketer to good use when he captains the West Indies in the first Test against England at the "spiritual place of cricket" starting Thursday. The 28-year-old all-rounder spent three seasons, from 2003-2005, on the Lord's groundstaff programme which has helped nurture generations of future profe...

7. England skipper Strauss in no mood to stand down

   2012-05-16 22:19:56 GMT : (Sports/Cricket)

   LONDON: England captain Andrew Strauss has insisted he has no desire to rid himself of the pressure of leadership despite a poor run of form with the bat. The Middlesex opener is all set to skipper England in the first of a three-Test series against the West Indies at his Lord's home ground on Thursday with a record of just one hundred in his last 50 Test innings behind him. However, the 35...

8. Federer and Nadal coast through in Rome

   2012-05-16 22:15:15 GMT : (Top News/Sports Top News)

   ROME: Roger Federer and Rafael Nadal stepped up their preparations for the French Open a gear as both advanced without any problems in their opening matches at the Rome Masters here on Wednesday. Federer's last minute decision to compete was rewarded immediately as he coasted to a 6-3, 6-4 second-round win over Argentinian journeyman Carlos Berlocq. Nadal slayed a mental dragon as he earned...

9. Pacquiao triggers gay row in Los Angeles

   2012-05-16 22:13:24 GMT : (Sports/Other Sports)

   LOS ANGELES: Philippine boxing icon Manny Pacquiao denied Wednesday he is homophobic, after he was banned from an upmarket Los Angeles shopping complex for comments about gay marriage. Pacquiao was due to give a TV interview at The Grove, but the outdoor shopping and entertainment centre said he was no longer welcome after his reported remarks. "Based on news reports of statements made by M...

10. Gold pares losses after bear market test, Greece focus

    2012-05-16 22:08:35 GMT : (Markets - Commodities/Americas)

    NEW YORK: Gold sank to a 2012 low on Wednesday before paring losses in choppy trade, as traders were torn between hope that France and Germany would work together to keep the Euro zone intact and new signs of stress in the Greek banking sector. Bullion briefly crossed into bear market territory, down 20 percent from its record last September, as intensifying fears a Greek exit from the euro zo...

11. Copper sinks on weak euro, nears year-to-date low

    2012-05-16 22:02:14 GMT : (Markets - Commodities/Americas)

    NEW YORK/LONDON: Copper came close to wiping out its year-to-date gains after the red metal and the euro hit four-month lows o n W ednesday amid mounting fears of a Greek exit from the euro zone. The European debt crisis deepened with news that the European Central Bank had stopped providing liquidity to some Greek banks. These banks have now been moved to the ECB's emergency liquidity assista...

12. C$ falters on Greece worries

    2012-05-16 22:02:13 GMT : (Markets - FXMM/Americas)

    TORONTO: The Canadian dollar skidded against its US counterpart o n W ednesday as broader uncertainty over Greece's future in the euro zone weighed on global equity, commodity and currency markets. The Canadian dollar, which touched a 16-week low of C$1.0131, or 98.71 US cents, against the greenback, moved in tandem with the euro on news the European Central Bank has stopped funding operations...

13. Oil falls as equities dip on Greek, euro zone woes

    2012-05-16 22:00:48 GMT : (Markets - Energy/Americas)

    NEW YORK: Crude oil futures tumbled on W ednesday, pressured along with US equities as banking troubles in Greece sparked risk aversion across markets worried about euro zone debt. The European Central Bank confirmed a Reuters report that it has stopped providing refinancing to some Greek banks as they are severely undercapitalized. The news pressured Wall Street and oil, as the dollar surged ...

14. US Cash Grains-Corn bids firm on slow sales

    2012-05-16 22:00:47 GMT : (Markets - Commodities/Americas)

    CHICAGO: Corn spot basis bids firmed at US Midwest river terminals, processors and elevators on Wednesday as available crop supplies tightened on a lack of farmer sales, dealers said. * Farmers were bullish and waited for higher prices in the cash market before selling the remainder of stored old-crop supplies. * An Indiana rail broker and an Iowa grain merchant noted light corn sales as CB...

15. NY cotton slides with other commodities and euro

    2012-05-16 21:57:07 GMT : (Markets - Commodities/Americas)

    NEW YORK: Cotton futures closed sharply lower on Wednesday, and set a 20-month low, to extend last week's 8.4 percent loss as investors sold out of most commodities along with equities in pursuit of cash, analysts said. While anticipated bumper supplies of the fiber have kept a bearish tone in the futures market, analysts said they thought cotton had been oversold at current levels based on su...

16. NY juice at new 2-1/2-yr low as buyers desert market

    2012-05-16 21:56:40 GMT : (Markets - Commodities/Americas)

    NEW YORK: US orange juice futures set a 2-1/2-year low for the second straight day on Wednesday as large supplies and soft retail demand put more pressure on a market that is already down by half from record highs early this year. "You hit some stops and got below key support levels, and then cascaded down to the next support levels," said Kevin Sharpe, a juice broker at Florida's Basic Commod...

17. Forbes names Jennifer Lopez 'most powerful' star

    2012-05-16 20:53:43 GMT : (Top News/Arts & Leisure Top News)

    NEW YORK: Jennifer Lopez is the world's most powerful celebrity, according to Forbes magazine Wednesday in a rankings based on a combination of earnings, press coverage and Internet presence. Lopez headed the 100-strong list, up from 50th last year, while her American Idol colleague Ryan Seacrest was 29th. Lady Gaga, the pop singer, came in at number five, toppled from her top perch last year....

18. CBOT nearby soy ends up on firm cash; deferreds sag

    2012-05-16 20:48:40 GMT : (Markets - Commodities/Americas)

    CHICAGO: Nearby soybean futures on the Chicago Board of Trade ended higher on Wednesday, gaining sharply against back months on firm cash markets and rumors of Chinese export demand for US old-crop supplies, traders said. * The premium for spot July soybeans over new-crop November rose to $1.18-1/2 by the closing bell, gaining 10-1/2 cents for the day and surging from 84-3/4 cents at the end o...

19. UN atom talks with Iran may show progress: diplomats

    2012-05-16 20:40:30 GMT : (World/North America)

    VIENNA: The UN nuclear watchdog and Iran may be narrowing their differences on how to tackle concerns over Tehran's atomic ambitions, diplomatic sources said on Wednesday, suggesting a previously unexpected agreement was now not ruled out. They spoke a day after the UN agency said there was a "good exchange of views" with Iran in a May 14-15 meeting which tested the Islamic state's readiness t...

20. ICE canola drops on technical selling

    2012-05-16 20:21:15 GMT : (Markets - Commodities/Americas)

    WINNIPEG: ICE Canada canola futures fell on Wednesday on technical selling after early weakness from outside markets pushed canola lower. * Funds seen holding large net long positions in canola and soybeans, leaving them vulnerable to big selloffs on bearish news. * Some technical selling seen due to lows hit earlier in the week when trading volumes were light. * Commercial selling was a...