Business Today: Stock futures slip on caution over China's yuan move

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Good Morning Aron, TUE 22 Jun 2010    Stock futures slip on caution over China's yuan move China makes good on flexibility vow Walgreen posts weaker-than-expected profit BP shares touch 13-year low as cost concerns weigh UK's Osborne cuts 2010, 2011 growth forecasts Spyglass seen as likely candidate to run MGM: report BA strikes pension deal to keep merger on track SEC charges ICP Asset Management in CDO fraud case Barclays bosses to take stand in Lehman dispute Intel and FTC talk settlement of market abuse suit China yuan moves both ways Asian shares dip with yuan euphoria UK faces harsh budget cuts Stock futures slip on caution over China's yuan move June 22, 2010 08:11 AM ET NEW YORK (Reuters) - Stock index futures dipped on Tuesday as investors reassessed a vow by China for more flexibility on its currency and turned cautious ahead of data expected to show a slight rise in U.S. home sales. Full Article China makes good on flexibility vow June 22, 2010 07:07 AM ET SHANGHAI (Reuters) - China pulled back the veil on its new currency regime a little further on Tuesday, appearing to engineer a fall in the yuan to make clear its vow of flexibility did not include one-way bets for appreciation. Full Article Walgreen posts weaker-than-expected profit June 22, 2010 07:56 AM ET DETROIT (Reuters) - Walgreen Co , the biggest U.S. drugstore chain, posted a quarterly profit that missed analysts' view. Full Article BP shares touch 13-year low as cost concerns weigh June 22, 2010 08:26 AM ET LONDON (Reuters) - Shares in BP fell to a 13-year low on Tuesday on concerns over the oil major's exposure to costs associated with the massive oil spill in the Gulf of Mexico. Full Article UK's Osborne cuts 2010, 2011 growth forecasts June 22, 2010 08:28 AM ET LONDON (Reuters) - Britain's economy will grow more slowly than previously envisaged this year and next as a result of fiscal tightening but will subsequently pick up speed, finance minister George Osborne said on Tuesday. Full Article Spyglass seen as likely candidate to run MGM: report June 22, 2010 01:41 AM ET (Reuters) - U.S. film studio Spyglass Entertainment has emerged as the leading contender to run debt-ridden Metro-Goldwyn-Mayer Inc, the Wall Street Journal reported, citing people familiar with the matter. Full Article BA strikes pension deal to keep merger on track June 22, 2010 02:55 AM ET LONDON (Reuters) - British Airways said it had agreed a recovery plan for its 3.7 billion pound ($5.5 billion) pension deficit, potentially removing a final obstacle to its planned merger with Spain's Iberia . Full Article SEC charges ICP Asset Management in CDO fraud case June 21, 2010 02:29 PM ET NEW YORK (Reuters) - U.S. securities regulators on Monday accused New York financial services firm ICP Asset Management and its founder of defrauding investors in a series of complex collateralized debt obligations (CDOs) for their own benefit. Full Article Barclays bosses to take stand in Lehman dispute June 21, 2010 01:08 PM ET NEW YORK (Reuters) - Barclays Plc's top two executives will tell a New York court this week that the British bank did not receive an unfair windfall from a deal for parts of Lehman Brothers in a case that shows the need for banks to draw up "living wills." Full Article Intel and FTC talk settlement of market abuse suit June 22, 2010 07:58 AM ET LOS ANGELES (Reuters) - Intel and the Federal Trade Commission filed motions on Monday to suspend trial proceedings while both negotiate settlement of a lawsuit, in which the agency accused the company of abusing its market dominance. Full Article

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