Business Today: Stock futures down on Spain debt worry

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Good Morning Robert, 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


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.

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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.

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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.

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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.

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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.

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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).

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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.

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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.

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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.

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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.

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