Business Today: Futures higher as focus shifts to Fed

		Click to View in Browser 03/20/2013 Futures higher as focus shifts to Fed NEW YORK (Reuters) - Stock index futures rose on Wednesday as the focus shifted from concerns about Cyprus's financial health to the statement from the Federal Reserve's policy committee and news conference by Chairman Ben Bernanke later in the day. Cyprus seeks Russian rescue, EU threatens cutoff NICOSIA/MOSCOW (Reuters) - Cyprus pleaded for a new loan from Russia on Wednesday to avert a financial meltdown, after the island's parliament rejected the terms of a bailout from the EU, raising the risk of default and a bank crash. FedEx cuts forecast as air freight weakness hits profit (Reuters) - FedEx Corp cut its full-year forecast after a worse-than-expected third-quarter profit as customers shift from air express to slower but cheaper modes of shipping. Analysis: Small and mid-sized banks face interest-rate struggles BOSTON (Reuters) - Some banks have been buying longer-term bonds to boost profits in a low-interest rate environment, sparking fears their profits will be squeezed when the Federal Reserve eventually starts to hike rates. American Realty Capital offers to buy Cole Credit trust (Reuters) - Real estate investment trust American Realty Capital Properties Inc said it offered to buy unlisted Cole Credit Property Trust III Inc for $5.7 billion in cash and stock to create the largest publicly traded REIT in the net lease sector. GM recalls about 33,700 vehicles to fix software issue DETROIT (Reuters) - General Motors Co is recalling about 33,700 model-year 2013 Buick LaCrosse sedans and Cadillac SRX crossover vehicles globally to address a potential software problem that could increase the risk of a crash. IMF chief's Paris flat searched over Tapie compensation case: lawyer PARIS (Reuters) - French authorities searched the Paris flat of IMF chief Christine Lagarde on Wednesday as part of an investigation into her handling of a 2008 compensation payment to a businessman supporter of ex-president Nicolas Sarkozy, her lawyer said. Litigation forces Deutsche Bank to restate profits FRANKFURT (Reuters) - Deutsche Bank cut its previously reported 2012 pretax profit by 600 million euros ($773 million) on Wednesday, hit by new charges related to mortgage-related lawsuits and other regulatory investigations. Bank of England split on QE, worried about sterling LONDON (Reuters) - The Bank of England is no closer to providing more support for Britain's stagnant economy with most members of its policy committee worried by the weakness of the pound, minutes of its March meeting showed on Wednesday. Fed to stick to stimulus as Cyprus rekindles global risks WASHINGTON (Reuters) - The Federal Reserve looks set to sustain its $85 billion monthly bond-buying stimulus despite improving economic data as a new flare-up in the euro zone crisis reminds officials of a risky global environment. Related Video Daily Digit: Deutsche Bank's litigation bill U.S. Morning Call: FedEx posts 31% drop in quarterly profit Economic News Bill to avert government shutdown inches to Senate passage Fed to stick to stimulus as Cyprus rekindles global risks 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