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Wednesday, March 27, 2013

Business Today: Stock futures drop on renewed euro zone worries

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03/27/2013
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Stock futures drop on renewed euro zone worries
NEW YORK (Reuters) - Stock futures fell on Wednesday, after a robust rally a day earlier, as soft demand at an Italian debt auction sparked fresh jitters over the financial health of the euro zone.
Mortgage applications rebounded last week as rates fell: MBA
NEW YORK (Reuters) - Applications for home mortgages rebounded last week as interest rates pulled back for the first time in three weeks, data from an industry group showed on Wednesday.
Cyprus readies capital controls to avert bank run
NICOSIA (Reuters) - Cyprus is finalizing capital control measures on Wednesday to prevent a run on the banks by depositors anxious about their savings after the country agreed a painful rescue package with international lenders.
U.S. asks Liechtenstein for data in Swiss banking probe
ZURICH (Reuters) - U.S. prosecutors are asking Liechtenstein to hand over data on foundations and other financial vehicles as part of their investigation into tax evasion by wealthy Americans, the principality's international tax office said on Wednesday.
Popularity helps buffer Apple from Chinese state-media attacks
SHANGHAI (Reuters) - Chinese Internet users are crying foul over the perceived unfair treatment doled out to Apple Inc by state-run media which has actively criticized the smartphone maker for the past two weeks over its warranty policy.
Insight: German reliance on Deutsche Bank outweighs scandals
FRANKFURT (Reuters) - Germany has become so dependent on Deutsche Bank to grease the wheels of its export driven economy that it looks willing to gloss over scandals involving its largest bank.
Italy police search Nomura's Milan offices in Monte Paschi probe: sources
MILAN/SIENA (Reuters) - Italy's tax police searched the Milan offices of Japanese bank Nomura on Wednesday as part of a judicial investigation into Italian lender Monte dei Paschi di Siena , judicial sources said.
Credit Suisse buys Morgan Stanley's European wealth management arm
ZURICH (Reuters) - Credit Suisse will buy Morgan Stanley's wealth management arm in Europe, the Middle East and Africa with $13 billion in assets, as it seeks to offset its exposure to more volatile investment banking.
Ericsson in talks to buy Microsoft's TV software unit: report
STOCKHOLM (Reuters) - Ericsson is in talks to buy Microsoft Corp's IPTV business, which makes software used by phone companies such as AT&T to deliver television over the Internet, Bloomberg reported, quoting people with knowledge of the matter.
2014 Jeep Cherokee's racy design stirs up social-media storm
DETROIT (Reuters) - The 2014 Jeep Cherokee revives one of the brand's hallowed nameplates, one that dates back nearly 40 years. But the Chrysler Group's new crossover vehicle looks like it would fit better in Italian cousin Alfa Romeo's future product stable.
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