Piano maker Steinway takes down "for sale" sign

NEW YORK (Reuters) - Steinway Musical Instruments Inc, the famous manufacturer of pianos, saxophones and trumpets, said on Wednesday it had decided not to sell itself following a 17-month-long exploration of strategic alternatives.An American icon synonymous with handmade grand pianos, Steinway has struggled to keep its production margins competitive amid stagnant sales, and has seen its shares plunge...

Read More..

Christian Orthodox believers celebrate Epiphany

SOFIA, Bulgaria (AP) — Thousands of young men leapt into icy rivers and lakes across eastern Europe on Sunday to retrieve crucifixes cast by priests in ceremonies commemorating the baptism of Jesus Christ.By tradition, a wooden cross is cast into the water and it is believed that the person who retrieves it will be freed from evil spirits.In the central Bulgarian city of Kalofer, 350 men in traditional...

Read More..

Spain's 'El Nino' lottery hands out $1.1 billion

A lottery showered €840 million ($1.1 billion) on ticket holders in five regions of Spain on Sunday, in the midst of a deep recession and high unemployment.The "El Nino" (The Child) lottery is held each Feast of the Epiphany — Jan. 6 — and the top prize tickets were sold in Alicante, Leon, Madrid, Murcia and Tenerife. The lottery's name refers to the baby Jesus, who according to tradition was visited...

Read More..

Northern Irish militants seen hijacking flag protests

BELFAST (Reuters) - Pro-British militant groups are instigating riots that have rocked the Northern Irish capital Belfast in the past month, a police officers' representative said on Sunday as officers came under attack again.The violence stems from protests over the removal of the British flag over Belfast City Hall. It has been among the province's worst since a 1998 peace accord ended 30 years...

Read More..

Drugs group Lundbeck's shares hit by profit warning

COPENHAGEN (Reuters) - Shares in Danish drugs firm Lundbeck fell to their lowest level in over 12 years on Wednesday after it cut its profits forecast for the next two years as European sales slow and spending on new products rise to combat generic competition.The company has already warned that earnings would stall until 2015 due to cheap generic competition for its existing drugs, meaning new products...

Read More..

New Mauritius Hotels posts 25 pct drop in full-year profit

PORT LOUIS (Reuters) - Luxury hotels group New Mauritius Hotels (NMH) reported a 25 percent fall in full-year pretax profit, citing higher finance costs and fewer tourists, and forecast a 15 percent drop in first-quarter earnings.Ranked among the Indian Ocean island's most-traded stocks, NMH said on Wednesday that pretax profit for the year to September 30 fell to 603 million Indian rupees, with...

Read More..

FedEx: cost plan can counter sluggish growth

NEW YORK (AP) — FedEx is more pessimistic about the U.S. economy than it was three months ago, but more assured of its own ability to grow earnings.The world's second-largest package delivery company lowered its economic forecast for the U.S., saying that there remains a lot of uncertainty for the company and the country.Its forecast for the current quarter, which incorporates the critical holiday...

Read More..