The company whose AR-15 type Bushmaster rifle was used in the Newtown school massacre in Connecticut will be immediately put up for sale, its private equity owner Cerberus Capital Management LP said on Tuesday in response to investor concerns.
Finance/Venture
China to Crack Down on 'Malicious' Trademark Registrations
China plans to change the law to crackdown on "malicious" trademark registrations, state media said on Monday, after a series of cases in which well-know international brands and individuals have had their names or copyright misused.
U.S. Judge Approves Settlement in BP Class Action Suit
A U.S. judge on Friday gave final approval to BP Plc's settlement with individuals and businesses who lost money and property in the 2010 Gulf of Mexico oil spill.
UBS Fined $1.5 Billion in Growing Libor Scandal
Swiss bank UBS agreed to a $1.5 billion fine on Wednesday after admitting to fraud and bribery in a deepening scandal over the rigging of global benchmark interest rates.
NYSE Exec Says Exchanges Moving Closer to "Kill Switch"
U.S. regulators and exchanges are getting closer to a framework for a "kill switch" that could be used to shut down trading before software glitches get out of control and wreak havoc on markets, a top exchange official said on Tuesday.
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KKR & Co L.P. has finished raising $6 billion for its second pan-Asia fund, according to sources, the largest private equity pool ever assembled for the region, with strong demand from pension funds and endowments seeking emerging market returns.
Morgan Stanley, the lead underwriter for Facebook Inc's initial public offering, will pay a $5 million fine to Massachusetts to settle charges that its bankers improperly influenced its research analysts when the Internet company went public.
Discovery Communications Inc said it would buy 12 Nordic television channels from Germany's ProSiebenSat.1 Media AG for about $1.7 billion to add fiction and sports to its program offerings.
Stocks fell on Friday, with the Nasdaq weighed down by another drop in shares of Apple, and as the overhang of "fiscal cliff" negotiations kept buying to a premium.
A strong yen and tight domestic market conditions have induced major Japanese banks to expand their footprint in the southeast Asian economies, many of which are experiencing relatively high economic buoyancy. Against this backdrop, Japan's retail and commercial bank Mitsubishi UFJ Financial Group Inc (MUFG) has worked out two deals in a single day.
The move is also reportedly aided by a planned purchase of 70 percent of Sprint by Japanese mobile firm Softbank, with an associated capital infusion.
Swiss bank UBS faces a fine of about $1 billion next week to settle charges of rigging the Libor interest rate benchmark, a person familiar with the situation said on Thursday.
Mercedes-Benz expects to lose its lead in the U.S. luxury market to German rival BMW, which is expected to be aggressive in its incentive strategy this month.
Delta Air Lines has agreed to pick 49 percent in Virgin Atlantic for $360 million. A two-year wait has finally yielded the much-vaunted outcome. American carrier Delta Air Lines has agreed to pick up a 49 percent stake in Virgin Atlantic for $360 million, which will give it access to London's Heathrow airport, the veritable hub of European corporate travelers.
