Business Today: Stock futures down on Spain debt worry

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Good Morning Aron, WED 16 Jun 2010    Stock futures down on Spain debt worry FedEx posts higher profit as economy recovers Housing starts drop to five-month low in May Producer prices ease in May as energy costs dive Fed could emerge intact from Wall Street reform debate EU denies planning Spain credit line with IMF, U.S. Low-rated U.S. firms may struggle to refinance debt: S&P Lehman Europe creditors offered fast-track payouts AT&T hit with order and privacy complaints over iPhone Market turmoil could derail recovery: EU's Rehn Nikkei breaks 10,000 level Game industry goes 3D Office 2010 looks beyond workplace Stock futures down on Spain debt worry June 16, 2010 08:12 AM ET NEW YORK (Reuters) - Stock index futures fell on Wednesday, a day after Wall Street jumped more than 2 percent, on new concerns about Spain's fiscal problems, while investors awaited data on producer prices and housing. Full Article FedEx posts higher profit as economy recovers June 16, 2010 08:28 AM ET NEW YORK (Reuters) - FedEx Corp reported a quarterly profit on Wednesday, helped by higher package volume and a recovering economy. Full Article Housing starts drop to five-month low in May June 16, 2010 08:34 AM ET WASHINGTON (Reuters) - Housing starts fell more than expected in May to their lowest level in five months, a government report showed on Wednesday, as a popular homebuyer tax credit that had buoyed construction activity over the past two months expired. Full Article Producer prices ease in May as energy costs dive June 16, 2010 08:35 AM ET WASHINGTON (Reuters) - Producer prices retreated in May as the cost of energy plunged, buying the Federal Reserve some time to maintain its ultra-low interest rate policy. Full Article Fed could emerge intact from Wall Street reform debate June 16, 2010 07:50 AM ET WASHINGTON (Reuters) - After suffering more than a year of abuse over its role in the financial crisis, the Federal Reserve is poised to emerge with its powers relatively intact as lawmakers finalize a sweeping overhaul of financial regulations. Full Article EU denies planning Spain credit line with IMF, U.S. June 16, 2010 07:43 AM ET BRUSSELS/MADRID (Reuters) - The European Commission on Wednesday denied a report that the European Union, the IMF and the U.S. Treasury were drawing up a liquidity plan for Spain including a credit line of up to 250 billion euros ($335 billion). Full Article Low-rated U.S. firms may struggle to refinance debt: S&P June 16, 2010 12:25 AM ET NEW YORK (Reuters) - Low-rated U.S. companies may struggle to refinance more than $1.7 trillion in debt that comes due between 2011 and 2014 as growing economic concerns make banks and investors more reticent to lend, Standard & Poor's said on Wednesday. Full Article Lehman Europe creditors offered fast-track payouts June 16, 2010 07:23 AM ET LONDON (Reuters) - Thousands of creditors owed up to $22 billion by bankrupt U.S. investment bank Lehman Brothers will be offered earlier cash payments if they are willing to take a cut in their claim valuations. Full Article AT&T hit with order and privacy complaints over iPhone June 16, 2010 07:56 AM ET SAN FRANCISCO/NEW YORK (Reuters) - Customers trying to reserve the latest version of the iPhone were thwarted by technical glitches that hindered sales on Tuesday, the first day of pre-orders before the device hits stores on June 24. Full Article Market turmoil could derail recovery: EU's Rehn June 16, 2010 05:50 AM ET STRASBOURG, France (Reuters) - Turmoil on sovereign debt markets could still derail economic recovery in Europe, EU Economic and Monetary Affairs Commissioner Olli Rehn said on Wednesday. Full Article

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