Business Today: Futures follow global stocks up

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Good Morning Bit, WED 17 Mar 2010    Futures follow global stocks up Producer prices post biggest drop in 7 months China unyielding on yuan as U.S. raises pressure Bernanke defends Fed role on smaller bank oversight BOJ split vote raises doubts about future easing OPEC sticks to its guns, demand rising Google partners call for clarity on China plans World Bank tells China to tighten policy Dubai World to offer full debt repayment: report Arrow to soon respond on Shell, PetroChina offer: source Business Update: BOJ eases, Asia up Macau casino moves boost shares Interest rates stay close to zero Futures follow global stocks up March 17, 2010 08:06 AM ET NEW YORK (Reuters) - Stock index futures rose on Wednesday on par with global stocks as a renewed promise of extended low interest rates from the Federal Reserve enticed investors into riskier assets. Full Article Producer prices post biggest drop in 7 months March 17, 2010 08:35 AM ET WASHINGTON (Reuters) - Producer prices fell more steeply than expected in February, posting their biggest drop in seven months as energy costs tumbled, according to a government report on Wednesday that pointed to scant inflation pressures. Full Article China unyielding on yuan as U.S. raises pressure March 17, 2010 08:27 AM ET BEIJING (Reuters) - China said on Wednesday it would not waver in sticking to a stable exchange rate and was being made a "scapegoat" after the U.S. Congress threatened to seek duties on Chinese goods unless it revalues its yuan. Full Article Bernanke defends Fed role on smaller bank oversight March 17, 2010 08:21 AM ET WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke on Wednesday defended the central bank's supervision of smaller banks, which it would lose in regulatory reform proposals, in a hearing before a congressional panel. Full Article BOJ split vote raises doubts about future easing March 17, 2010 07:37 AM ET TOKYO (Reuters) - The Bank of Japan loosened monetary policy on Wednesday in a split vote that suggested the central bank would struggle in the future to meet government demands for easier monetary conditions. Full Article OPEC sticks to its guns, demand rising March 17, 2010 08:33 AM ET VIENNA (Reuters) - OPEC ministers agreed not to change oil output targets they are already exceeding, anticipating that demand will pick up later in the year to mop up extra barrels. Full Article Google partners call for clarity on China plans March 17, 2010 06:03 AM ET BEIJING (Reuters) - Chinese firms selling advertising space on Google's search pages have demanded clarity about the search giant's plans in China, as speculation increases over Google's future in the world's largest Internet market. Full Article World Bank tells China to tighten policy March 17, 2010 07:23 AM ET BEIJING (Reuters) - The World Bank raised its 2010 growth and inflation forecasts for China and recommended a tighter monetary policy as well as a stronger exchange rate to restrain inflation expectations and asset bubbles. Full Article Dubai World to offer full debt repayment: report March 17, 2010 06:45 AM ET DUBAI (Reuters) - Dubai World will offer banks a single proposal to repay in full the $26 billion debt it is renegotiating, with interest likely linked to LIBOR, Al Arabiya reported on Wednesday. Full Article Arrow to soon respond on Shell, PetroChina offer: source March 17, 2010 02:31 AM ET PERTH (Reuters) - Australia Arrow Energy Ltd has opened its books to Royal Dutch Shell and PetroChina for them to conduct due diligence for their joint takeover offer worth at least A$3.3 billion ($3.03 billion) sources said on Wednesday. Full Article

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