PRESS DIGEST - Financial Times - March 20

March 20 Tue Mar 19, 2013 8:43pm EDT

March 20 (Reuters) - Headlines

Osborne orders 2.5 bln stg in extra cuts ()

Cyprus parliament rejects bank levy ()

Freddie sues over 'substantial' Libor loss ()

Ryanair orders 175 Boeing jets ()

BAE freezes pay of top executives ()

BG set to strike $20 bln deal in India ()

ICE adjusts terms of $8.2 bln NYSE deal ()

FCC plans to offload 2 bln euros of assets () Overview

Finance minister George Osborne on Tuesday ordered ministers to come up with 2.5 billion pounds of extra spending cuts as the government seeks to use the proceeds of the cuts towards long-term investments.

Cyprus's parliament overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout on Tuesday, throwing international efforts to rescue the latest casualty of the euro zone debt crisis into disarray.

U.S. mortgage finance company Freddie Mac has sued more than a dozen big global banks and the British Bankers Association for alleged manipulation of the Libor benchmark interest rate.

Budget Irish airline Ryanair handed Boeing its largest European order ever on Tuesday, a deal for 175 jets worth $16 billion.

BAE Systems has frozen the pay of Chief Executive Ian King and two other top executives, after group earnings were hit by U.S. budget cuts and delays to a deal with Saudi Arabia. Oil and gas company BG Group is set to sign a 20-year contract worth as much as $20 billion to provide liquefied natural gas to the western Indian state of Gujarat

IntercontinentalExchange has revised the structure of its proposed acquisition of NYSE Euronext to help the deal get regulatory approval.

Spanish construction group FCC will announce on Wednesday a plan to sell more than 2 billion euros ($2.58 billion) worth of assets to cut debt as a result of the country's devastating property crash.

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