IBT Staff Reporter

Fannie Mae and Freddie Mac, the largest U.S. home funding companies, will delist their shares on the New York Stock Exchange after Fannie Mae fell below and Freddie Mac held near minimum price requirements, the companies' regulator said on Wednesday.

Mortgage demand jumped to a five-month peak last week, with applications to buy homes up from 13-year lows set in the wake of buyer tax credits while refinance loans hit the highest level since May 2009.

Prices were cut on nearly one quarter of U.S. homes on the market in May, the same as April, with a growing supply of unsold homes keeping buyers in the driver's seat, real estate web site Trulia.com said on Wednesday.

The euro was little changed against the dollar on Wednesday, as a recovery in U.S. stocks lifted risk appetite and offset fresh concerns about Spain's credit and banking system.

Bank of Canada Governor Mark Carney cautioned investors on Wednesday not to take another interest rate hike for granted, saying volatile global conditions meant no particular path for monetary policy was preordained.

AT&T Inc said on Wednesday that it was suspending preordering of the next Apple Inc iPhone while it tries to meet the fulfill number of orders it has already received.

The former head of the now bankrupt mortgage lender Taylor, Bean & Whitaker Mortgage Corp has been charged with fraud in a scheme that led to the misappropriation of more than $1 billion, according to an indictment unsealed on Wednesday.

The former head of the now bankrupt mortgage lender Taylor, Bean & Whitaker Mortgage Corp has been charged with fraud in a scheme that led to the misappropriation of over $1 billion, according to an indictment unsealed on Wednesday.

World No.4 mobile phone maker Sony Ericsson said it would add another smartphone to its offering in the fast growing sector as it looks to consolidate its recent return to profitability.

Opel turned its back on state assistance for its restructuring drive on Wednesday, abandoning months of talks with European governments and leaving parent General Motors to fund the program.

If China does not act soon to raise the value of its currency, the U.S. Congress could pass legislation aimed at forcing Beijing to act, a top Democratic lawmaker said on Wednesday.

The euro fell against the U.S. dollar on Wednesday on fresh concerns about Spain's debt, while global stocks faltered after data showed U.S. housing starts fell more than expected in May to a five-month low.

The dollar fell against the yen to hit a session low on Wednesday after data showed U.S. housing starts fell more than expected in May to their lowest level in five months.

Gold Exchange Traded Commodity (ETC) demand remained upbeat for the nine consecutive weeks as the investors remained buoyant to park their funds under the safe haven instrument mainly on the back of sustained weakness in the Eurozone and banking instability in the region.

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.

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.

Stocks fell on Wednesday as FedEx warned about higher costs, housing starts fell to a five-month low and new concerns surfaced over Spain's fiscal problems.

Housing starts fell to a five-month low in May but industrial output rose, evidence of an uneven recovery that has kept inflation at a minimum.

Chief executives of United Airlines and Continental Airlines braced on Wednesday for the strongest political headwinds that their proposal to create the world's biggest airline will likely face.

People who got vaccinated against the H1N1 swine flu virus may also be protected against the strain of influenza that killed 50 million to 100 million people in 1918, researchers reported on Tuesday.

FedEx Corp reported a quarterly profit on Wednesday that beat analyst expectations, but said costs would constrain its 2011 earnings, sending its shares down in premarket trading.

Stocks were set to fall at the open on Wednesday as FedEx warned about higher costs, housing starts fell to a five-month low and new concerns surfaced over Spain's fiscal problems.

Housing starts fell more than expected in May to a five-month low as a homebuyer tax credit expired while plunging energy costs pushed producer prices lower, buying time for the Federal Reserve to maintain its ultra-low interest rate policy.

The EU and International Monetary Fund on Wednesday denied a report that they and the U.S. Treasury were drawing up a safety net for Spain including a credit line of up to 250 billion euros ($335 billion).

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.

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.

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).

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.

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 housing and producer prices.