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We consider point-to-point wireless links with multiple antennas in the presence of interference, and exploit channel's spatial correlation and the temporal covariance of the interference to design multiantenna transmitters. We develop a space-time spreading scheme that maximizes average signal-to-interference-and-noise ratio, and an optimally power-loaded space-time beamforming (STBF) scheme which improves error-probability performance. In order to increase transmission rates, we combine orthogonal space-time block coding with STBF, optimize power loading across beams, and develop low-complexity receivers. Optimal training for least-squares error channel estimation, and STBF for minimum mean-square error channel estimation, are also studied. Our analytical and simulated results corroborate that STBF with optimal power loading can considerably reduce error probability and channel-estimation errors.