Business Today: Stock futures pare losses after bank results

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Good Morning Aron, WED 20 Jan 2010    Stock futures pare losses after bank results BofA posts wider loss on credit costs U.S. mortgage demand up for third week as rates drop Morgan Stanley reports Q4 profit of $413 million Apple, Microsoft eye replacing Google on iPhone: report China tries to curb lending and avoid overheating JPMorgan in exclusive talks on RBS Sempra: sources IBM raises outlook but investors wary after rally Global slide in '09 economic freedom holds risks Oil extends losses towards $78 on tight China credit BHP gives bullish demand outlook Kraft buys Cadbury for $19.6B Business Update: Google backs off Stock futures pare losses after bank results January 20, 2010 08:14 AM ET NEW YORK (Reuters) - U.S. stock index futures pared some losses on Wednesday after financial industry bellwethers Morgan Stanley and Wells Fargo & Co posted quarterly results. Full Article BofA posts wider loss on credit costs January 20, 2010 07:57 AM ET CHARLOTTE, North Carolina (Reuters) - Bank of America Corp reported a wider-than-expected quarterly loss of $5.2 billion, hurt by still-high loan losses and its repayment of U.S. government bailout aid. Full Article U.S. mortgage demand up for third week as rates drop January 20, 2010 08:03 AM ET NEW YORK (Reuters) - Demand for U.S. home loans rose last week for the third straight week as mortgage rates fell to a one-month low and stoked refinancing, an industry group said on Wednesday. Full Article Morgan Stanley reports Q4 profit of $413 million January 20, 2010 08:22 AM ET NEW YORK (Reuters) - Morgan Stanley posted a fourth-quarter profit of $413 million on Wednesday, helped by an upswing in its investment banking business. Full Article Apple, Microsoft eye replacing Google on iPhone: report January 20, 2010 08:00 AM ET NEW YORK (Reuters) - Apple Inc is talking to Microsoft Corp about stepping in as the default search engine on the iPhone, replacing Google Inc , according to report on Bloomberg's web site. Full Article China tries to curb lending and avoid overheating January 20, 2010 06:45 AM ET SHANGHAI/BEIJING (Reuters) - Chinese authorities ordered some big banks to curb lending for the rest of January, intensifying their efforts to prevent the world's third-largest economy from overheating. Full Article JPMorgan in exclusive talks on RBS Sempra: sources January 20, 2010 08:26 AM ET LONDON/DUBAI (Reuters) - JPMorgan Chaseis in exclusive talks to buy the RBS Sempra commodities joint venture, people familiar with the matter said on Wednesday, in a deal expected to be worth about $4 billion. Full Article IBM raises outlook but investors wary after rally January 19, 2010 07:25 PM ET NEW YORK (Reuters) - IBM raised its 2010 profit target and reported a stronger-than-expected, 9 percent increase in fourth-quarter earnings, as cost cuts and a shift to more profitable contracts helped it weather a slump in corporate spending. Full Article Global slide in '09 economic freedom holds risks January 20, 2010 08:09 AM ET HONG KONG (Reuters) - Economic freedoms were sharply reduced last year on massive spending and bailouts during the financial crisis, a trend that could imperil future economic prospects, the U.S.-based Heritage Foundation said on Wednesday. Full Article Oil extends losses towards $78 on tight China credit January 20, 2010 05:48 AM ET LONDON (Reuters) - Oil extended losses toward $78 a barrel on Wednesday on tighter credit policy in China, a stronger dollar and expectations that U.S. refiners processed less crude. Full Article

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