* Cyprus agrees to spin off Greek units of Cypriot banks
* Wall Street on track to end the week lower
* Futures up: S&P 3.5 pts; Dow 31 pts; Nasdaq 6.8 pts
NEW YORK, March 22 (Reuters) - U.S. stock index futures
edged up on Friday, erasing earlier losses, after Cyprus agreed
with Greece on a takeover of the Greek units of Cypriot banks,
which ended uncertainty over the fate of those operations.
* Euro zone finance ministers had excluded the Greek
branches of Cypriot banks from a controversial tax in the
island's international bailout plan, on condition those units
would be transferred to Greek banks.
* Wall Street was on track to end the week lower, after
having advanced for the three previous weeks. The S&P 500 index
was off 1 percent for the week so far.
* S&P 500 futures rose 3.5 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 were up 31
points while Nasdaq 100 futures added 6.8 points.
* Blackstone Group LP and General Electric Co's
lending arm have discussed jointly pursuing Dell Inc's
financial-services business, the Wall Street Journal
reported, citing people familiar with the matter.
* The New York Times separately said Blackstone was weighing
making an offer for all or part of Dell, and that some people
close to the private equity firm were skeptical that any offer
* Tiffany & Co reported a slightly higher profit for
the quarter that included the holiday season and said net
worldwide sales would rise 6 percent to 8 percent this fiscal
year, with growth in all regions.
* Julius Genachowski, chairman of the Federal Communications
Commission, is set to announce on Friday he will step down after
four years that included a successful challenge to AT&T Inc's
proposed merger with T-Mobile USA, the Wall Street Journal
said, citing people familiar with the matter.