Business Today: Stock futures sharply down, rattled by Cyprus worries

		Click to View in Browser 03/18/2013 Stock futures sharply down, rattled by Cyprus worries NEW YORK (Reuters) - Stock futures fell sharply on Monday as investors, rattled by a radical bailout plan for Cyprus reached over the weekend that knocked confidence in European banks, became sellers, locking in profits from the recent rally. Cyprus reworks divisive bank tax, delays vote NICOSIA (Reuters) - Cypriot ministers were trying to revise a plan to seize money from bank deposits before a parliamentary vote on Tuesday that will secure the island's financial rescue or could lead to its default, with reverberations across the euro zone. Analysis: JPMorgan and other banks tinker with risk models NEW YORK (Reuters) - In 2011, senior executives at JPMorgan Chase & Co told one of the bank's trading and hedging groups to scale back its riskier positions as new regulations would make these bets much more expensive to maintain. Analysis: Europe's social shock-absorbers show crisis strain PARIS (Reuters) - Grigoris Lemonis, a 73-year-old Athens pensioner, uses his 580 euro ($760) monthly state pension to support his wife and the family of his son, an unemployed cook with two small children and a wife who works occasionally as a cleaner. Central banks want Libor replaced with several rates LONDON (Reuters) - The tarnished Libor interest rate benchmark should be replaced with a range of reference rates based on actual market transactions by banks, a global group of central bankers said on Monday. Airbus sells 234 planes to Lion Air in $24 billion deal PARIS (Reuters) - Airbus has signed a 18.4-billion-euro deal ($24 billion) with low-cost Indonesian carrier Lion Air for 234 single-aisle passenger planes, poaching one of archrival Boeing's fastest growing customers. Analysis: Mexico's reforms hook U.S. investors NEW YORK (Reuters) - Don't be fooled by the Mexican stock market's slow start to the year. The country's push for economic reforms and the revival of the economy of its largest trading partner, the United States, are stirring investor interest in Latin America's No. 2 market. Boeing puts 787 battery through tough tests it once avoided NEW YORK/SAN FRANCISCO (Reuters) - To get its 787 Dreamliner flying again, Boeing Co is testing the plane's volatile battery system to a rigorous standard that the company itself helped develop -- but that it never used on the jet. S&P warns of socially explosive situation in euro zone BERLIN (Reuters) - Standard and Poor's sees a high risk that Spain, Italy, Portugal and France will not be able to carry through necessary reforms as the unemployed become less willing to put up with austerity, S&P's Germany head Torsten Hinrichs told a newspaper. Cyprus deal shock sends shares tumbling, gold up LONDON (Reuters) - The surprise decision by euro zone leaders to part-fund a bailout of Cyprus by taxing bank deposits sent shockwaves through financial markets on Monday, with shares and the bonds of struggling euro zone governments tumbling. Related Video India: No country for women drinkers FACTBOX: North Korea, trading up Economic News Republicans differ on flexibility on taxes with Obama Fed to hold course on stimulus despite debate over 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