Business Today: Wall Street trips and falls on cloudy Italian election

	Click to View in Browser 02/25/2013 Wall Street trips and falls on cloudy Italian election NEW YORK (Reuters) - Stocks on Monday suffered their biggest drop since November after a strong showing in Italian elections by groups opposed to the country's economic reforms triggered worry that Europe's debt problems could once again destabilize the global economy. Chesapeake, Encana sued in civil antitrust action (Reuters) - A major Michigan landowner is suing Chesapeake Energy Corp and Encana Corp, alleging that the two energy giants colluded to rig bids for oil and gas rights in 2010. Exclusive: Goldman to begin fresh round of job cuts (Reuters) - Goldman Sachs Group Inc will begin a fresh round of job cuts as early as this week, sources familiar with the matter said on Monday, with its equities-trading business bracing for bigger cuts than fixed-income trading. BP, contractors start trial for worst U.S. offshore oil spill NEW ORLEANS (Reuters) - The long-awaited trial of BP for the biggest U.S. offshore oil spill began on Monday, with governments, businesses and individuals blaming the company for the 2010 disaster that killed 11 rig workers and spilled 4 million barrels of oil into the Gulf of Mexico. Honeywell to test some F-35 parts after smoke incident WASHINGTON (Reuters) - The Pentagon said on Monday an F-35 test plane was involved in an incident on February 14 that caused smoke in the cockpit, and it was sending the affected parts back to their manufacturer, Honeywell International Inc, for a detailed inspection. Macy's CEO shocked by Martha Stewart deal with J.C. Penney NEW YORK (Reuters) - Macy's Inc Chief Executive Terry Lundgren said he was shocked when Martha Stewart told him in 2011 that she was starting a new alliance with rival J.C. Penney Co Inc . Sinopec to buy stake in Chesapeake assets for $1.02 billion (Reuters) - China Petroleum & Chemical Corp (Sinopec) will buy half of Chesapeake Energy Corp's Mississippi Lime oil and gas properties in Oklahoma for $1.02 billion to increase its presence in the booming North American shale gas industry. IKEA takes meatballs off Europe menus after horsemeat found PRAGUE/STOCKHOLM (Reuters) - Sweden's IKEA stopped nearly all sales of meatballs at its furniture store cafeterias across Europe after tests in the Czech Republic on Monday showed some contained horsemeat. St Joe investors lose in court; Einhorn had shorted stock (Reuters) - A federal appeals court has made it harder for investors to rely on reports from short sellers when bringing securities fraud lawsuits, in a case against a Florida developer long criticized by prominent hedge fund manager David Einhorn. Head of Morgan Stanley's fund-of-funds moving to Carlyle NEW YORK (Reuters) - The head of Morgan Stanley's fund-of-hedge-funds business, Jacques Chappuis, will leave the firm in May and join Carlyle Group LP as a managing director, according to an internal memo from the bank and a statement from Carlyle. Related Video Daily Digit: Bid for 689 B&N stores Techquity: Apple's Mac attack, HP's board troubles Economic News Analysis: Morning in America? U.S. economy poised to accelerate Bernanke's challenge: prime markets for policy turn 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