Business Today: Futures advance ahead of Fed minutes

		Click to View in Browser 07/11/2012 Futures advance ahead of Fed minutes NEW YORK (Reuters) - Stock index futures advanced on Wednesday, putting the benchmark S&P 500 index on track to snap four straight days of declines ahead of the release of minutes from the Federal Open Market Committee's June meeting. Trade deficit narrows on exports, cheaper oil in May WASHINGTON (Reuters) - The trade deficit narrowed slightly in May as a rise in exports, including those bound for Europe and China, eased the pain of a slowdown in the broader economy, a government report showed on Wednesday. Mortgage applications fell last week: MBA NEW YORK (Reuters) - Applications for home mortgages fell last week due to a drop in refinancing activity even as interest rates hit record lows, an industry group said on Wednesday. Spain to implement new VAT rate in August: source MADRID (Reuters) - Spain will implement a 3 percentage-point hike to the value-added tax rate on August 1, a government source said on Wednesday. Exclusive: Encana tipped off Chesapeake to land plans in Michigan - Emails (Reuters) - As Chesapeake Energy Corp and Encana Corp face antitrust investigations, emails reviewed by Reuters indicate that top executives of the two rivals shared sensitive information that gave Chesapeake the upper hand in deals with Michigan land owners. OPEC sees 2013 oil demand growth slowing LONDON (Reuters) - World oil demand growth will slow in 2013 from the already weak 2012, OPEC said on Wednesday, citing Europe's debt worries, a faltering U.S. economic recovery and deceleration of growth in emerging markets. German prosecutors launch probe into Morgan Stanley executive FRANKFURT (Reuters) - German prosecutors have opened preliminary proceedings into alleged links between Morgan Stanley's top dealmaker in Germany and the former premier of the regional state of Baden-Wuerttemberg, relating to the state's purchase of shares in German utility EnBW in 2010. Abercrombie to buy back shares, curtail Europe expansion: report (Reuters) - Abercrombie & Fitch Co plans a big share buyback to appease investors and is also likely to cut back on its European expansion plans, the New York Post reported. HSBC to apologize at U.S. Senate money laundering hearing: memo HONG KONG (Reuters) - HSBC plans to "acknowledge and apologize" for failing to spot and deal with money laundering within the bank during a U.S. Senate panel hearing next week, according to an internal memo sent by its chief executive. Barclays' Diamond accused of misleading inquiry LONDON (Reuters) - British lawmakers on Tuesday accused Barclays former chief executive Bob Diamond of misleading a parliamentary inquiry into an interest rate-fixing scandal that has forced him to resign and give up bonuses worth up to 20 million pounds ($30 million). Related Video Breakingviews: Spanish bank 'bail in' necessary Reuters on the Road: Tsunami orphans' flip flop fashion Economic News Mortgage applications fell last week: MBA Small business optimism falls sharply in June A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend