U.S. private equity firm Cerberus Capital Management said on Tuesday it will immediately begin selling its investment in gunmaker Freedom Group in light of last week's school shooting in Connecticut. Cerberus acquired Bushmaster in 2006 and later merged it with other gun companies to create Freedom Group, which reported net sales of $677.3 million for
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The schools of Newtown, which stood empty in the wake of a shooting rampage that took 26 of their own, will again ring with the sounds of students and teachers on Tuesday as the bucolic Connecticut town struggles to return to normal. But among the normal sounds of a school day – teachers reading to
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A California judge has denied Apple's request for a permanent injunction against Samsung Electronics' smartphones, depriving the iPhone maker of key leverage in the mobile patent wars. Apple had been awarded $1.05 billion in damages in August after a U.S. jury found Samsung had copied critical features of the iPhone and iPad. The Samsung products
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In a major counteroffer that moves the White House and congressional Republicans closer to resolving the "fiscal cliff" standoff, President Barack Obama is now seeking $1.2 trillion from higher tax revenues, including increased rates on those earning more than $400,000 a year, a source familiar with the negotiations said on Monday. In exchange, the president
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Asian shares and other risk assets rose on Tuesday as signs of compromise sparked new optimism that the U.S. "fiscal cliff" budget tussle could be settled before tax hikes and spending cuts begin to bite early next year. Differences over how to resolve the fiscal cliff narrowed significantly Monday night as President Barack Obama made
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Discount retailer Lidl faces a 200,000-euro ($260,000) Christmas dinner bill after an offer of chicken vol-au-vents and ice cream cake for the poor went viral. The supermarket launched a Twitter campaign in Belgium on Monday, saying it would hand out five four-course Christmas dinners to food banks for each tweet on a hash tag. Lidl
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Children eager to track Santa Claus on his annual yuletide journey to homes across the world can download a new mobile app from the North American Aerospace Defense Command (NORAD). The new app for Windows 8, called NORAD Tracks Santa, is part of a 57-year-long holiday tradition at NORAD of tracking Santa. It will allow
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Cyprus’ economy is expected to mark 3.5% negative growth rate in 2013, and 1.3% in 2014, according to the macroeconomic projections of the Central Bank of Cyprus, issued on Friday. The projections are based on the assumptions and data available as at 23 November 2012. According to the Economic Bulletin, issued by the CB, the
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Cyprus and Russia signed a Memorandum of Understanding on customs cooperation, at the Ministry of Finance, on Friday. The MoU enhances customs cooperation between the two countries and includes provisions for customs offences on the one hand and mechanisms to combat them on the other, Ministry of Finance Permanent Secretary Christos Patsalides said after signing
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President of the European Council Herman Van Rompuy Stressed Friday that Cyprus’ first and successful EU Presidency was fully aimed at the Union’s common interest. “I would like to thank President Christofias for the excellent cooperation during the Cyprus Presidency. It was the country`s first Presidency since its accession, fully aimed at the Union`s common
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