PRESS DIGEST- British Business - Feb 28
Feb 28 The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
(Clarifies fourth line to say index traded below record peak on Monday)
* Icahn opens door to Blackstone tie-up on Dell bid
* Futures up: Dow 28 pts, S&P 3.6 pts, Nasdaq 11 pts
NEW YORK, March 26 U.S. stock index futures rose on Tuesday, ahead of a flurry of data that could lure investors and propel the S&P 500 to a record closing high.
* The benchmark S&P 500 index traded just a quarter point below its all-time closing high on Monday, before news out of Europe prompted investors to cash in gains.
* Banks in Cyprus will remain closed until Thursday, and will then be subject to capital controls to prevent a run on deposits. President Nicos Anastasiades said late on Monday that a 10 billion euro ($13 billion) rescue plan agreed at the weekend was "painful" but essential to avoid economic meltdown.
* The euro edged higher against the U.S. dollar but remained near four-month lows on lingering concerns about negative implications of the Cypriot rescue plan and if it would serve as a template for other euro zone economies requiring bailouts.
* S&P 500 futures rose 3.6 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 28 points, and Nasdaq 100 futures added 11 points.
* The Commerce Department releases February durable goods orders at 8:30 a.m. EDT (1230 GMT). Economists expect a 3.8 percent rise in February orders, compared with a 4.9 percent drop in January.
* At 9:00 a.m. (1300 GMT), Standard & Poor's releases its S&P Case/Shiller Home Price Index for January. An hour later, the Conference Board releases March consumer confidence data and the Commerce Department releases February data on new home sales.
* Michael Dell's $24.4 billion buyout bid for Dell Inc could be derailed after billionaire Carl Icahn opened the door to an alliance with Blackstone Group LP to take control of the computer maker from its founder. (Reporting by Rodrigo Campos; Editing by Bernadette Baum)
* Rupp to retire as Olin chairman, CEO Fischer elected to succeed
Feb 27 Wheeler Real Estate Investment Trust Inc :