Business Today: Futures fall after Portugal sovereign rating cut

If you are having trouble viewing this email or would like to view it in your web browser, CLICK HERE

Good Morning Bit, WED 24 Mar 2010    Futures fall after Portugal sovereign rating cut Fitch downgrades Portugal on budget concerns Google to phase out China search partnerships Rio trial ends, verdict could take some time Lennar posts narrower-than-expected loss JPMorgan closes in on tax refund deal with FDIC: report General Mills profit beats estimates, volume flat Dealmakers meet to sort $26 billion Dubai World debt Home loan demand down 2nd week as rates rise GM unveils electric concept car for mega-cities Final day of Rio Tinto trial Google's next move Business Update: China softens Futures fall after Portugal sovereign rating cut March 24, 2010 07:53 AM ET NEW YORK (Reuters) - U.S. stock index futures fell on Wednesday after Portugal's sovereign credit rating was downgraded one notch on budget concerns. Full Article Fitch downgrades Portugal on budget concerns March 24, 2010 08:31 AM ET LISBON (Reuters) - Fitch Ratings cut Portugal's sovereign credit rating by one notch to AA- on Wednesday, citing budgetary underperformance in 2009 and warning that further underperformance this year and next could cause another downgrade. Full Article Google to phase out China search partnerships March 24, 2010 08:29 AM ET BEIJING/HONG KONG (Reuters) - Two days after shutting its Chinese portal over censorship, Google Inc said it plans to phase out deals to provide filtered search services to other online or mobile firms in China. Full Article Rio trial ends, verdict could take some time March 24, 2010 08:05 AM ET SHANGHAI (Reuters) - The trial of four Rio Tinto executives ended in Shanghai on Wednesday, with three contesting charges of stealing commercial secrets in a case that has highlighted China's sensitivities over its rich resources sector. Full Article Lennar posts narrower-than-expected loss March 24, 2010 08:16 AM ET NEW YORK (Reuters) - Top-five homebuilder Lennar Corp reported a narrower-than-expected quarterly loss on Wednesday, helped by higher prices and lower expenses, and said it is on track to be profitable in fiscal 2010. Full Article JPMorgan closes in on tax refund deal with FDIC: report March 24, 2010 07:14 AM ET (Reuters) - JPMorgan Chase is closing in on a deal with the Federal Deposit Insurance Corp (FDIC) that could result in a tax refund of about $1.4 billion for the bank, the Wall Street Journal reported, citing people familiar with the talks. Full Article General Mills profit beats estimates, volume flat March 24, 2010 08:01 AM ET CHICAGO (Reuters) - General Mills Inc posted a higher-than-expected quarterly profit, helped by sales of new items such as chocolate Cheerios cereal and the company's continuing focus on cost cuts. Full Article Dealmakers meet to sort $26 billion Dubai World debt March 24, 2010 08:11 AM ET DUBAI (Reuters) - Bankers gathered in Dubai on Wednesday to hammer out a $26 billion debt plan with state-owned Dubai World as a repayment deadline loomed, adding to pressure on the glitzy emirate to settle the conglomerate's debt. Full Article Home loan demand down 2nd week as rates rise March 24, 2010 07:39 AM ET NEW YORK (Reuters) - U.S. mortgage applications fell for a second straight week, with demand for home loan refinancing sinking to its lowest level in a month as interest rates jumped, data from an industry group showed on Wednesday. Full Article GM unveils electric concept car for mega-cities March 24, 2010 06:41 AM ET SHANGHAI (Reuters) - General Motors unveiled a new electric concept car in China on Wednesday , aiming to burnish its image as a supplier of non-polluting cars tailored to the crowded mega-cities of the future. Full Article

REUTERS www.reuters.com Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book.Details Subscribe to other Reuters newsletters Unsubscribe from this newsletter. Send this mailing to a friend or colleague Reuters.com: Help and Contact Us | Advertise With Us | Mobile | Newsletters | RSS | Interactive TV | Labs | Reuters in Second Life | Archive | Site Index | Video Index Thomson Reuters Corporate: Copyright | Disclaimer | Privacy | Professional Products | Professional Products Support | About Thomson Reuters | Careers