Before the Bell: Futures drop as Iraq turmoil continues

	Click to View in Browser 06/16/2014 Futures drop as Iraq turmoil continues NEW YORK (Reuters) - U.S. stock index futures declined on Monday, on the heels of the S&P's biggest weekly drop since early April, as turmoil in Iraq sparked investor caution. Hillshire withdraws recommendation for Pinnacle deal (Reuters) - Hillshire Brands Co said it will withdraw its recommendation to its shareholders to vote for its acquisition of Pinnacle Foods Inc, following Tyson Foods Inc's offer to buy Hillshire. Airbus, Safran create space launch joint venture PARIS (Reuters) - Airbus Group and Safran confirmed plans on Monday to combine work on space launchers, accelerating efforts to fend off a growing threat to Europe's Ariane space rocket from U.S. low-cost rival SpaceX. Medtronic to buy Covidien for $42.9 billion, rebase in Ireland (Reuters) - U.S. medical device maker Medtronic Inc said on Sunday it had agreed to buy Covidien Plc for $42.9 billion in cash and stock and move its executive base to Ireland in the latest transaction aiming for lower corporate tax rates abroad. SanDisk to buy Fusion-io for $1.1 billion (Reuters) - SanDisk Corp is buying Fusion-io Inc for about $1.1 billion to bulk up its flash storage business and reduce its exposure to the volatile memory chip market. Siemens and Mitsubishi to present competing Alstom bid on Monday: sources MUNICH/PARIS (Reuters) - Germany's Siemens and Japan's Mitsubishi Heavy Industries (MHI) will present a joint offer for France's Alstom in Paris on Monday, challenging a General Electric bid that sparked French government concern about retaining jobs and industry expertise. Automakers in U.S. driving banks from buoyant new car market NEW YORK/DETROIT (Reuters) - U.S. banks looking to get in on a booming market for financing new-car sales have run into a formidable competitor: the auto manufacturers themselves. Venezuela sees U.S. shale boom as bonus for own oil industry LONDON (Reuters) - Venezuela wants to increase oil supplies to the United States to regain some of the market share it lost over the past decade as Caracas sees the U.S. boom in light oil from shale as a chance to raise heavy-crude exports, the country's oil minister said.  Exclusive: Friedman could become Nasdaq CEO next year - sources NEW YORK (Reuters) - Nasdaq OMX Group Inc lured back former Chief Financial Officer Adena Friedman as co-president with the understanding that she will succeed Chief Executive Bob Greifeld, possibly as soon as next year, sources familiar with the matter said. UK watchdog fines Credit Suisse, Yorkshire Building Society LONDON (Reuters) - Britain's financial conduct watchdog handed out more than million-pound fines to Credit Suisse and Yorkshire Building Society for promising unrealistic returns to investors who had limited market knowledge. Related Video Breakingviews: Medtronic's deal is a marriage of convenience Chinese media mogul looks to bring Hollywood home Global Investing Why some bags are not going to fly this summer Stock funds worldwide attract $11.4 billion over week: BofA 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