Business Today: Spain bailout rally brief as Wall Street slides

Click to View in Browser 06/11/2012 Spain bailout rally brief as Wall Street slides NEW YORK (Reuters) - U.S. stocks fell on Monday as Europe's aid package for Spanish banks did little to alleviate investor concerns about the euro zone's finances and a slowdown in the wider global economy. Fed's Williams says Europe presents global threat (Reuters) - The European debt crisis poses a "significant" threat to financial stability and could undermine progress made in recent years to strengthen the global financial system, a top Federal Reserve official said on Monday. Weak house prices drag U.S. family wealth : Fed WASHINGTON (Reuters) - Americans suffered a record decline in wealth between 2007 and 2010 as home values tumbled, according to a Federal Reserve report on Monday that underscored the severity of the recent recession. Apple takes on Google with own maps, better Siri SAN FRANCISCO (Reuters) - Apple Inc took the wraps off its own mobile mapping service and made its enhanced Siri voice-search available for iPads as it rolled out souped-up software and hardware on Monday to help it wage war on Google Inc. Giant Port Arthur refinery unit seen shut for months HOUSTON (Reuters) - Output at the biggest U.S. refinery could be cut by more than half for up to five months after Motiva Enterprise's failed to restart a major new crude unit at the Port Arthur, Texas, plant over the weekend, sources familiar with operations said on Monday. New York City files derivative suit versus Wal-Mart (Reuters) - New York City's pension funds on Monday became the latest group to file a derivative lawsuit against Wal-Mart Stores Inc based on reported allegations of bribery in Mexico and a possible cover-up by Wal-Mart officials. Apax, JMI to buy software firm Paradigm for about $1 billion LONDON/NEW YORK (Reuters) - Private equity firm Apax Partners and technology investment firm JMI Equity agreed to pay about $1 billion cash for software group Paradigm, whose technology helps oil and gas companies analyze drilling prospects. Johnson & Johnson wins US approval to buy Synthes WASHINGTON (Reuters) - Johnson & Johnson has won U.S. antitrust approval to buy Swiss medical device company Synthes Inc with conditions, the Federal Trade Commission said on Monday. Market euphoria over Spanish bank bailout fizzles MADRID/BERLIN (Reuters) - Financial market euphoria over a European bailout for Spain's debt-stricken banks faded quickly on Monday as investors sounded the alarm over its impact on public debt and bondholders, and eyed the next risks in the euro zone's debt crisis. Analysis : Higher ratings slash costs of U.S. rail projects (Reuters) - Credit rating upgrades can't come fast enough for U.S. railroads looking to slice hundreds of millions of dollars from borrowing costs to fund massive projects to upgrade the nation's freight network. Related Video "New world" of cyber threats warning Trading at Noon: Wall Street euphoria fades away Economic News Fed's Williams says Europe presents global threat Fed's Lockhart not convinced more easing needed now 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