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Clyde K. Valle

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Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

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Alibaba’s shares closed significantly above their initial price on the NYSE on Friday, September 19.

Shares in the company made their debut in the US at $92.70, after being priced at $68 late on Thursday.

They ended the $93.89 – 38% above the initial asking price.

More than 100 million shares were traded in the minutes after the stock was launched – more than Twitter.

Earlier in the day, founder and chairman Jack Ma rang the opening bell.

The NYSE was festooned with the orange and white logos of the company to herald its arrival on public markets.

The company raised nearly $21.8 billion in its share sale, indicating strong investor appetite for China’s e-commerce giant.

Alibaba is now valued at $231.4 billion – making it significantly larger than Amazon and Facebook.

Alibabas shares closed significantly above their initial price on the NYSE photo

Alibaba’s shares closed significantly above their initial price on the NYSE (photo Reuters)

If Alibaba’s bankers decide to take up an option in which they can purchase 48 million shares themselves, then Alibaba’s launch will have raised nearly $25 billion – breaking the previous $22.1bn record set by China’s Agricultural Bank in 2010.

Alibaba operates a series of online marketplaces in China and elsewhere, handling more transactions than Amazon and eBay combined.

It is responsible for more than 80% of online e-commerce in China.

Alibaba’s share sale is being viewed as a way to invest in e-commerce growth in China.

Already, the country is home to the largest population of internet users on the planet – and most estimates say that only half of China’s 1.3 billion residents have signed online.

That is why investors have been angling for some time to get a piece of Alibaba – long the market leader in e-commerce in China.

However, investors are not buying shares directly in Alibaba’s companies operating in China, but rather in a holding company in Cayman Islands which has a profits contract with Alibaba.

That has made some wary, and it is one reason why Alibaba did not list on Hong Kong’s stock exchange.

Either way, the sale is expected to make millionaires out of a large number of the company’s managers, software engineers and other staff.

Currently Alibaba’s single largest shareholder is Japan’s Softbank which holds a 32% stake. Yahoo also has a stake.

Alibaba made a profit of almost $2 billion in the three months to the end of June, with sales up by 46% year-on-year to $2.54 billion.

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Alibaba shares have been priced at $68, the top end of the range, in a sign of strong investor appetite for the Chinese e-commerce giant.

With trading starting on the New York Stock Exchange later on Friday, September 19, the share sale will raise $21.8 billion, making it one of the largest flotations ever.

It values Alibaba, which accounts for 80% of all online retail sales in China, at $167.6 billion.

That value surpasses such corporate titans as Walt Disney and Boeing.

The final amount raised from the sale could change, depending on the final allotment allocation. If underwriters exercise an option to sell more shares, the money raised could increase to $25 billion, beating the record listing held by Agricultural Bank of China. That flotation in 2010 raised $22 billion.

Alibaba operates a series of online marketplaces in China and elsewhere, handling more transactions than Amazon and eBay combined.

The company was formed 15 years ago by former teacher Jack Ma, who wants to use some of the proceeds to expand in the US and other markets.

Alibaba shares have been priced at 68 ahead of NYSE flotation photo

Alibaba shares have been priced at $68 ahead of NYSE flotation

Trading in Alibaba shares is expected to be frenetic in the early hours after the market opens. Many experts expect the share price to go higher once trading begins as institutions add Alibaba stock to their investment portfolios.

US search giant Yahoo, already a shareholder in Alibaba, is selling some $8 billion worth of its holding in the offering, leaving it with about 16% of the company.

Japan’s Softbank is not selling for now and will be left with a 32% stake, making it the largest single shareholder.

However, control will remain in the hands of Jack Ma and other company veterans. A group of 27 manager dubbed the “Alibaba Partnership” will have the power to nominate a majority of board members.

Regulators at the Hong Kong stock market objected to this structure, which resulted in Alibaba deciding to list in New York.

Alibaba says the arrangement will help it to preserve its innovative culture.

Jack Ma’s stake is reportedly worth about $14 billion, while the sale is expected to make millionaires out of a large number of the company’s managers, software engineers and other staff.

Alibaba acts as an online marketplace for wholesalers, retailers, and small businesses, and handles e-payments and financial transactions. The company has also branched out into cloud computing and instant messaging.

Alibaba has about 279 million active buyers visiting its sites at least once a month.

Online spending by Chinese shoppers is forecast soar over the next few years. And Alibaba has plans to expand into emerging markets as well as Europe and the US.

Alibaba made a profit of almost $2 billion in Q2 2014, with sales up by 46% year-on-year to $2.54 billion.

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Chinese tennis player Li Na has announced her retirement at the age of 32, citing injury problems.

Li Na, who has taken both the French and Australian Open titles, made the widely expected announcement in a statement on social media.

After four knee surgeries, “my body is begging me to stop the pounding”, Li Na wrote.

The Chinese Tennis Association thanked her for the “shining moments” Li Na had given to the sport.

Li Na is one of China’s most high-profile athletes and a national hero.

She is well-known for her outspoken independence, her humor and her reluctance to embrace the state-run training system.

Li Na won the Australian Open in January to add to her 2011 French Open title, but the world number six has not played since losing in the third round at Wimbledon in June.

In a letter posted on Facebook, Li Na said that making the decision to retire had taken “several agonizing months”.

Li Na has announced her retirement from tennis at the age of 32 citing injury problems photo

Li Na has announced her retirement from tennis at the age of 32, citing injury problems

“Representing China on the tennis court was an extraordinary privilege and a true honor,” she wrote.

“Having the unique opportunity to effectively bring more attention to the sport of tennis in China and all over Asia is something I will cherish forever.

“But in sport, just like in life, all great things must come to an end.”

On China’s microblog service Weibo, tens of thousands of Chinese fans inundated Li Na’s page with positive comments.

Many thanked her for representing the country and wished her well, often using an affectionate term for Li. “Good luck Sister Na!” and “Go Sister Na!” were among the more common comments.

“You once said that all you wanted to do is just play tennis, but in reality because of you, so many people have begun to understand what tennis is really about… I sincerely wish you the best. Thank you for guiding and encouraging us,” said one user.

“She never boasts of her patriotism, because all along she has been quietly doing things for this country that are greater than what you and I have ever done… she has refused to flatter others, but now she has expressed her deepest thoughts. I am deeply moved by her discipline and honesty,” said another user.

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Oracle’s CEO Larry Ellison is stepping down, the technology giant announced on September 18.

Mark Hurd and Safra Catz have been named as successors, with both being given the chief executive title.

Larry Ellison, who is estimated to be the world’s fifth wealthiest man, will stay on as executive chairman and chief technology officer.

He co-founded what would become Oracle with Bob Miner and Ed Oates in 1977.

Larry Ellison co founded what would become Oracle with Bob Miner and Ed Oates in 1977 photo

Larry Ellison co-founded what would become Oracle with Bob Miner and Ed Oates in 1977 (photo Forbes)

In a statement, Oracle board president Michael Boskin said: “Larry has made it very clear that he wants to keep working full time and focus his energy on product engineering, technology development and strategy.

“Safra and Mark are exceptional executives who have repeatedly demonstrated their ability to lead, manage and grow the company. The Directors are thrilled that the best senior executive team in the industry will continue to move the company forward into a bright future.”

Safra Catz will run the manufacturing, legal and finance operations of Oracle whereas Mark Hurd will be in charge of the sales, service and business units.

The software and hardware engineering teams will continue to report to Larry Ellison.

“The three of us have been working well together for the last several years, and we plan to continue working together for the foreseeable future,” said Larry Ellison.

Shares in Oracle dipped 3% in trading after markets had closed, before recovering slightly.

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Pizza Hut is testing a lighter pizza, Skinny Slice, in a bid to freshen up its menu and regain its footing against competitors.

The tests of the Skinny Slice pies began this week at several dozen restaurants in Toledo, Ohio, and West Palm Beach, Florida. The pies simply use less of the same dough used for regular pies and are lighter on the toppings, said Doug Terfehr, a Pizza Hut spokesman.

Pizza Hut is testing Skinny Slice in a bid to freshen up its menu and regain its footing against competitors photo

Pizza Hut is testing Skinny Slice in a bid to freshen up its menu and regain its footing against competitors

Several fast-food and restaurant chains have turned to lighter offerings over the years as a way to update their images, with varying degrees of success. Burger King, for instance, recently said the majority of its U.S. restaurants would stop offering lower-calorie French fries less than a year after the so-called “Satisfries” were introduced.

The test by Pizza Hut comes as the chain fights to win back market share. Last year, Pizza Hut sales fell 2% at US locations open at least a year. Domino’s, by contrast, saw the figure rise 5.4% while Papa John’s saw sales rise 4% in North America.

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It appears that LeBron James’ hair has grown back on the top of his head.

On September 16, LeBron James showed off a new look as he appeared at Nike’s Oregon headquarters to promote the release of his LeBron 12 line shoes.

LeBron James showed off a new look at Nikes Oregon headquarters to promote the release of his LeBron 12 line shoes 640x398 photo

LeBron James showed off a new look at Nike’s Oregon headquarters to promote the release of his LeBron 12 line shoes

The shoes were supposed to be the main show, but all Twitter could talk about was the Cleveland Cavaliers star’s seemingly rejuvenated hairline.

LeBron James, 29, entered the national radar as a teenager and the 2014-2015 season with the Cavaliers will be his 12th in the NBA.

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Arizona Cardinals’ running back Jonathan Dwyer has been arrested on suspicion of domestic violence, police have said.

Jonathan Dwyer, 25, facing charges of aggravated assault and preventing someone from calling 911, has been suspended from the team.

The charges are from two altercations at his home in July involving a woman and an 18-month-old child.

Jonathan Dwyer’s arrest comes after a recent spate of high profile assault incidents involving American football players.

Earlier this month Baltimore Ravens running back Ray Rice was suspended indefinitely after a video emerged of him knocking out his then-fiancée.

After Ray Rice was suspended, Minnesota Vikings star running back Adrian Peterson was indicted on child-abuse charges.

Critics have been calling on NFL Commissioner Roger Goodell to step down after Ray Rice initially received just a two-game ban for his assault.

Earlier this week the league announced it is hiring four women as advisers on domestic violence.

Arizona Cardinals’ running back Jonathan Dwyer has been arrested on suspicion of domestic violence 480x640 photo

Arizona Cardinals’ running back Jonathan Dwyer has been arrested on suspicion of domestic violence (photo USA Today)

Across the country, outrage has been palpable.

Many fans have announced they are turning their backs on the NFL.

Fantasy leagues have been disbanded.

Even the league’s own television outlets, such as Fox, CBS and ESPN, have been sharply critical.

One of the counts against Jonathan Dwyer was “aggravated assault causing a fracture” against the 27-year-old woman.

Another count was for aggravated assault against a minor, said Phoenix Police Sergeant Trent Crump.

Sergeant Trent Crump said police were called to Dwyer’s home on July 21 after neighbors reported a row.

They discussed the incident with the woman, but did not talk to Jonathan Dwyer, who was hiding in the home, said Sergeant Trent Crump.

The second physical altercation happened at Jonathan Dwyer’s home the following day.

After the woman was assaulted, Jonathan Dwyer took a shoe and threw it at the couple’s 18-month-old child, said the police officer.

The victim and the child have subsequent “fled the state” because of safety concerns, he added.

The Cardinals reacted to the arrest by announcing that Jonathan Dwyer has been suspended for this week’s games against the 49ers.

“We became aware of these allegations this afternoon when notified by Phoenix police and are cooperating fully,” the team said in a statement.

“Given the serious nature of the allegations we have taken the immediate step to deactivate Jonathan from all team activities. We will continue to closely monitor this as it develops and evaluate additional information as it becomes available.”

Sistema shares plunged at the Moscow Exchange after Russian billionaire Vladimir Yevtushenkov has been placed under house arrest on suspicion of money-laundering.

The Moscow Exchange temporarily restricted trading in Vladimir Yevtushenkov’s Sistema group as shares in the oil and telecom group fell 37%.

The head of a top business group has questioned the reason behind the arrest of Vladimir Yevtushenkov, 65.

President Vladimir Putin’s spokesman denied any political motive.

Vladimir Yevtushenkov has an estimated fortune of $4.4 billion (3.4 billion euros), according to Forbes magazine.

His AFK Sistema group owns Russia’s biggest mobile operator MTS as well as oil company Bashneft.

Russian billionaire Vladimir Yevtushenkov has been placed under house arrest on suspicion of money laundering photo

Russian billionaire Vladimir Yevtushenkov has been placed under house arrest on suspicion of money-laundering (photo Forbes)

Bashneft shares also fell by more than 20% on September and trading was temporarily restricted.

Russia’s Federal Investigative Committee said he had been accused of money laundering that involved the illegal acquisition of oil assets in the BashTek group in the Russian republic of Bashkortostan. In 2009, Sistema bought six BashTek companies, which were then taken over by Bashneft.

If found guilty Vladimir Yevtushenkov could face up to 10 years in jail, reports say. Sistema said in a statement that the acquisition of BashTek was “legal and transparent”.

The arrest was immediately compared by Alexander Shokhin, head of Russia’s Union of Industrialists and Entrepreneurs, with the detention of another billionaire, Mikhail Khodorkovsky, in 2003.

The former owner of oil giant Yukos spent 10 years in jail before being pardoned and leaving Russia last December.

“Without doubt this looks very like Yukos 2.0, because the charges apply to the head of a company that paid $2.5 billion for assets and is now accused of stealing shares and money-laundering,” Alexander Shokhin told Ria Novosti.

Yukos was at one point Russia’s biggest oil company but its assets were eventually broken up, many of them bought by Rosneft, now the world’s largest oil producer.

Rosneft was earlier this year reported to be keen to buy Bashneft.

The state-run oil and gas company is controlled by Igor Sechin, who for years has been a close ally of President Vladimir Putin.

Igor Sechin has been targeted by US sanctions in response to the crisis in Ukraine.

Mikhail Khodorkovsky, in an interview with Russian business daily Vedomosti, said the Sistema chairman’s arrest involved “purely commercial interests” rather than political motives. It also showed that President Vladimir Putin had lost control and was not aware of what was happening, he said.

Vladimir Putin’s spokesman, Dmitry Peskov said it was “absolutely untrue and absurd to try to paint this story with any political colors”, RIA Novosti reported.

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The Minnesota Vikings’ owners announced in a statement to the media that they are following the recommendation of the NFL and placing Adrian Peterson on the exempt / commissioner’s permission list, which bars him from all team activities.

The statement said:

This has been an ongoing and deliberate process since last Friday’s news. In conversations with the NFL over the last two days, the Vikings advised the League of the team’s decision to revisit the situation regarding Adrian Peterson. In response, the League informed the team of the option to place Adrian on the Exempt/Commissioner’s Permission list, which will require that Adrian remain away from all team activities while allowing him to take care of his personal situation until the legal proceedings are resolved. After giving the situation additional thought, we have decided this is the appropriate course of action for the organization and for Adrian.

We are always focused on trying to make the right decision as an organization. We embrace our role – and the responsibilities that go with it — as a leader in the community, as a business partner and as an organization that can build bridges with our fans and positively impact this great region. We appreciate and value the input we have received from our fans, our partners and the community.

The Minnesota Vikings’ owners placed Adrian Peterson on the exempt list which bars him from all team activities 424x640 photo

The Minnesota Vikings’ owners placed Adrian Peterson on the exempt list, which bars him from all team activities (photo Wikipedia)

While we were trying to make a balanced decision yesterday, after further reflection we have concluded that this resolution is best for the Vikings and for Adrian. We want to be clear: we have a strong stance regarding the protection and welfare of children, and we want to be sure we get this right. At the same time we want to express our support for Adrian and acknowledge his seven-plus years of outstanding commitment to this organization and this community. Adrian emphasized his desire to avoid further distraction to his teammates and coaches while focusing on his current situation; this resolution accomplishes these objectives as well.

We will support Adrian during this legal and personal process, but we firmly believe and realize this is the right decision. We hope that all of our fans can respect the process that we have gone through to reach this final decision.

“This is the best possible outcome given the circumstances,” Adrian Peterson’s agent, Ben Dogra, told The Associated Press.

“Adrian understands the gravity of the situation and this enables him to take care of his personal situation. We fully support Adrian and he looks forward to watching his teammates and coaches being successful during his absence.”

Shortly after the announcement, Adrian Peterson for the second time in a week responded by tweeting a biblical verse.

Adrian Peterson was charged on September 12 with causing injury to a child age 14 or younger. He allegedly hit one of his sons with a wooden switch while disciplining the boy on or around May 18.

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Radisson is suspending its sponsorship of Minnesota Vikings after Adrian Peterson was charged with child abuse in Texas.

Adrian Peterson hit his 4-year-old son last May with part of a branch.

The Vikings have reinstated the player after dropping him.

“Radisson is suspending its limited sponsorship of the Minnesota Vikings while we evaluate the facts and circumstances,” the company said.

It added it “takes this matter very seriously, particularly in light of our long-standing commitment to the protection of children”.

Radisson’s sponsorship includes a banner visible to viewers watching Vikings’ news conferences.

The Minnesota Vikings said it had “respectfully honored Radisson’s request”, a team spokesman said.

Adrian Peterson was charged with child abuse after hitting his 4 year old son with part of a branch photo

Adrian Peterson was charged with child abuse after hitting his 4-year-old son with part of a branch

Adrian Peterson stands accused of using part of a tree branch to spank his four-year-old son. The player says he was using a form of discipline his father used on him as a boy.

“I am not a perfect son. I am not a perfect husband. I am not a perfect parent, but I am, without a doubt, not a child abuser,” Adrian Peterson said in a statement.

“I am someone that disciplined his child and did not intend to cause him any injury.”

The Vikings dropped Adrian Peterson for Sunday’s game but then reinstated him on Monday.

The team’s general manager, Rick Spielman, said: “I understand that this is a very difficult thing to handle. But we also feel strongly as an organization that this is disciplining a child.

“Whether it’s an abusive situation or not, or whether he went too far disciplining, we feel very strongly that that is the court’s decision to make, but we also understand the seriousness of abusing children as well.”

The charges against Adrian Peterson come just days after another NFL star, Ray Rice, had his contract terminated after a video emerged in which he appeared to punch his wife.

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Judge Thokozile Masipa is due to announce if Oscar Pistorius is guilty of the culpable homicide of his girlfriend, Reeva Steenkamp.

The judge cleared Oscar Pistorius of murder on September 11, saying the prosecution had failed to prove he intended to kill the model Reeva Steenkamp on Valentine’s Day of 2013.

However, she said Oscar Pistorius’ conduct on the night in question had been negligent.

Oscar Pistorius, 27, admits firing through a toilet door at his home but says he mistook Reeva Steenkamp for an intruder.

Judge Thokozile Masipa is due to announce if Oscar Pistorius is guilty of the culpable homicide of Reeva Steenkamp photo

Judge Thokozile Masipa is due to announce if Oscar Pistorius is guilty of the culpable homicide of Reeva Steenkamp

Prompting tears from the Olympic and Paralympic sprinter, Judge Thokozile Masipa said he could not have foreseen killing whoever was behind the door – but went on to say that he had acted hastily and with excessive force.

She described his actions as negligent.

Correspondents at Oscar Pistorius’ trial said the judge appeared to be leaning towards the lesser charge of manslaughter, known in South Africa as culpable homicide, when she adjourned unexpectedly for the day.

The charge of culpable homicide implies negligence without intention to kill and could still mean a jail sentence of up to 15 years. Legal experts suggest seven to 10 years is more likely.

The double amputee had denied murdering Reeva Steenkamp after a row on Valentine’s Day last year, saying he shot her by mistake.

Oscar Pistorius has pleaded not guilty to all the charges he faces, including two counts of shooting a firearm in public and the illegal possession of ammunition.

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The European Court of Justice has rejected a MasterCard appeal and upheld the ruling that its fees were anti-competitive.

The court said regulators were right to condemn the cost of its interchange fees – the fees retailers pay banks to process card payments – and has rejected an appeal.

MasterCard was investigated last year for the amount it charged for card transactions in Europe.

The company’s president said the ruling was “disappointing”.

The European Court of Justice has rejected a MasterCard appeal and upheld the ruling that its fees were anti competitive photo

The European Court of Justice has rejected a MasterCard appeal and upheld the ruling that its fees were anti-competitive (photo Reuters)

Javier Perez, president of MasterCard Europe said despite that, the ruling would have “little or no impact on how MasterCard operates”.

He said: “We will continue to comply with the decision as we have been doing for a number of years. This means we would maintain our European… cross-border consumer interchange fees at a weighted average of 0.2% for debit and 0.3% for credit.”

MasterCard is the second-largest credit and debit card company after Visa.

The decision ends MasterCard’s seven-year battle against a decision made by the EU’s competition watchdog.

Judge Thokozile Masipa has ruled out a verdict of premeditated murder in the Oscar Pistorius trial, saying the prosecution failed to prove he killed his girlfriend deliberately after an argument.

However, Judge Thokozile Masipa also rejected the defense’s argument that the athlete lacked criminal capacity.

The judge said she was satisfied the accused “could distinguish between right and wrong”.

She said he was an evasive witness but this did not mean he was guilty.

Oscar Pistorius denies murdering Reeva Steenkamp on Valentines Day of 2013 saying he thought there was an intruder photo

Oscar Pistorius denies murdering Reeva Steenkamp on Valentine’s Day of 2013, saying he thought there was an intruder

Oscar Pistorius, 27, denies murdering Reeva Steenkamp on Valentine’s Day of 2013, saying he thought there was an intruder.

The judge could also find him guilty of culpable homicide, or manslaughter, for which he would face a long jail term.

Oscar Pistorius has pleaded not guilty to all the charges he faces, including two counts of shooting a firearm in public and the illegal possession of ammunition.

Judge Thokozile Masipa began by detailing the charges against the athlete and repeating extracts of his testimony, reading in a slow, measured way. She then moved on to a summary of the trial.

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Judge Thokosile Masipa in the Oscar Pistorius trial has questioned the reliability of several witnesses in court, as she delivers her verdict on the athlete.

Judge Thokosile Masipa said humans were fallible, and may not have heard gunshots or screaming as they thought.

Correspondents say this could make a premeditated murder verdict unlikely.

Oscar Pistorius, 27, denies murdering Reeva Steenkamp on Valentine’s Day of 2013, saying he thought there was an intruder.

The judge could also find him guilty of culpable homicide, or manslaughter, for which he would face a long jail term.

Oscar Pistorius has pleaded not guilty to all the charges he faces, including two counts of shooting a firearm in public and the illegal possession of ammunition.

Judge Thokosile Masipa began by detailing the charges against the athlete and repeating extracts of his testimony, reading in a slow, measured way.

Oscar Pistorius has pleaded not guilty to all the charges he faces at his Pretoria trial 640x360 photo

Oscar Pistorius has pleaded not guilty to all the charges he faces at his Pretoria trial (photo AP)

She then moved on to a summary of the trial.

A tense-looking Oscar Pistorius looked on from the dock, and then began to weep.

Judge Thokosile Masipa said that defense claims that police contaminated evidence and removed items from the crime scene “paled into insignificance”.

She questioned the reliability of several witnesses who apparently heard screams and gunshots at the time of the incident, saying most of those who said they had heard the incident had “got facts wrong”.

The judge also said that the court would not make inferences about the state of the relationship between Oscar Pistorius and Reeva Steenkamp. The prosecution has suggested that it was “on the rocks”.

Correspondents say the judge appeared to be moving much more quickly than expected through the evidence, in a process which had been expected take hours or even days.

During his closing remarks last month, Oscar Pistorius’ lawyer Barry Roux conceded that the athlete should be found guilty of negligence for discharging a firearm in a restaurant – which carries a maximum penalty of five years.

Most of the trial, which began on March 3, 2014, has been televised and attracted worldwide attention.

Reeva Steenkamp, a 29-year-old model and law graduate, was hit three times by bullets shot through a toilet door by Oscar Pistorius at his home in the capital, Pretoria, in the early hours of February 14, 2013.

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Mike Tyson has launched a swearing tirade on Canadian TV CP24 in Toronto.

The former boxing champion was appearing on CP24 TV to promote his one-man stage show Mike Tyson: Undisputed Truth.

The interview turned nasty when news anchor Nathan Downer turned his questioning to Mike Tyson’s earlier visit to the city where the former boxer met mayor Rob Ford and labelled him “the best in Toronto’s history”.

Mike Tyson was challenged on his suitability as a public endorser of the controversial mayor’s re-election bid. Rob Ford became embroiled in a substance abuse scandal in 2013 and admitted to smoking crack cocaine.

“Do you prefer him to be a guy that’s clean-cut, and behind the door you never know what he’s doing? Human beings have a problem with being real with themselves … we all make mistakes,” Mike Tyson said of Rob Ford.

“He’s a human being. He’s no different than anybody else.”

Nathan Downer raised the point in his questioning of Mike Tyson: “Some of your critics would say, <<There’s a race for mayor. We know you’re a convicted rapist. This could hurt his campaign>>. How would you respond to that?”

The CP24 interview turned nasty when news anchor Nathan Downer challenged Mike Tyson on his suitability as a public endorser of controversial Mayor Rob Fords re election bid 640x365 photo

The CP24 interview turned nasty when news anchor Nathan Downer challenged Mike Tyson on his suitability as a public endorser of controversial Mayor Rob Ford’s re-election bid (photo CP24)

“Hey, I don’t know who said that. You’re the only one I’ve heard say that,” Mike Tyson replied.

“I don’t have no comment to that, because it’s negative. You’re being negative.”

When Mike Tyson’s handler, seated next to him, tried to get the subject switched, it was obvious that Tyson was stewing at being blindsided by the unexpected questions over his links to Rob Ford.

That’s when he fired off at Nathan Downer.

“It’s so interesting, you come off like a nice guy, but that was really a piece of s***, that comment. F*** you. That was a piece of s***.”

Nathan Downer reminded Mike Tyson they were appearing on live TV – to no avail.

“I don’t care. What are you going to do about it?”

When he was questioned about the pressures of appearing in a one-man show, Mike Tyson didn’t give up: “It’s more nerve-racking for me to sit here talking to a rat piece of s*** like you.”

Nathan Downer then called time on the interview, politely thanking Mike Tyson for the opportunity.

“F*** you,” Mike Tyson said in the background as the show took a break.

Nathan Downer later tweeted: “I’m okay everybody. Unfortunately my question hurt Mike Tyson’s feelings. That was not my intentions. My apologies for the language.”

Judge Thokosile Masipa is due to give her verdict at the murder trial of Oscar Pistorius in Pretoria, South Africa.

The 27-year-old Paralympic champion faces 25 years in jail if found guilty of premeditated murder.

Oscar Pistorius denies intentionally killing his girlfriend Reeva Steenkamp on Valentine’s Day of 2013, saying he thought there was an intruder.

Judge Thokosile Masipa could also find Oscar Pistorius guilty of culpable homicide, or manslaughter, for which he would face a long jail term.

Oscar Pistorius has pleaded not guilty to all the charges he faces, including two counts of shooting a firearm in public and the illegal possession of ammunition.

During his closing remarks last month, Oscar Pistorius’ lawyer Barry Roux conceded that the athlete should be found guilty of negligence for discharging a firearm in a restaurant – which carries a maximum penalty of five years.

Most of the trial, which began on March 3, 2014, has been televised and attracted worldwide attention.

Oscar Pistorius denies intentionally killing his girlfriend Reeva Steenkamp on Valentines Day of 2013 photo

Oscar Pistorius denies intentionally killing his girlfriend Reeva Steenkamp on Valentine’s Day of 2013

Before the fatal shooting, Oscar Pistorius was feted in South Africa and known as the “blade runner”.

He had won gold at the London 2012 Paralympic Games and also competed at the Olympics.

The judgement at his trial is likely to be well over 100 pages. The judge will go through each charge, summing up the prosecution and defense cases and analyzing the evidence.

Reeva Steenkamp, a 29-year-old model and law graduate, was hit three times by bullets shot through a toilet door by Oscar Pistorius at his home in the capital, Pretoria, in the early hours of February 14, 2013.

Oscar Pistorius denies the prosecution’s allegation that the couple – who had been dating for three months – had rowed.

The athlete said he thought Reeva Steenkamp was still in the bedroom when he heard a noise in the bathroom, which he believed to be an intruder.

The prosecution have tried to characterize Oscar Pistorius as a “hothead”, while his defense team have portrayed him as having a heightened response to perceived danger because of his disability and background.

In July, a psychiatric report requested by the judge said Oscar Pistorius had post-traumatic stress disorder but no mental illness that could prevent him being held criminally responsible for his actions.

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Honda has unveiled Acura RLX, a car that can safely drive itself on the freeway while the driver’s hands are off the wheel.

While the car is just a prototype, Honda says the technology could start appearing on Honda cars in 2020 and beyond.

Acura RLX sedan has cameras that monitor lane marking and multiple radar sensors on the front and sides. On top is a beacon that uses laser beams to continually scan the car’s surroundings, similar to self-driving prototypes already introduced by Google, Ford and Toyota. GPS also helps the car stay on a previously mapped course and follow the speed limit.

Honda Acura RLX is a car that can safely drive itself on the freeway while the drivers hands are off the wheel photo

Honda Acura RLX is a car that can safely drive itself on the freeway while the driver’s hands are off the wheel

On a loop around Detroit, the car’s driver took his hands off the wheel as the car entered the freeway. It accelerated to the speed limit and applied the brakes if it got too close to a car in front. It signaled to change lanes and waited for an opening. The car merged easily onto two other freeways and edged to the left to avoid a construction zone. To exit, the car reduced its speed to 35 miles per hour on the ramp.

The driver’s hands remained off the wheel for the entire eight-mile loop. But Honda says the car will automatically return control to the driver if it senses it can’t handle a situation. One example: If a car cuts in front of the Honda too closely and fast braking is needed.

Honda has been working on this prototype car in Japan for about a year, but it’s the result of decades of safety research, said Hironobu Kiryu, the car’s chief engineer.

“Honda is aiming to eliminate accidents, not just for the driver but for pedestrians and drivers of other cars,” Hironobu Kiryu said.

Honda is showing the car in Detroit this week as part of the Intelligent Transport Systems World Congress, an annual gathering of engineers and other researchers.

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Ray Rice’s wife, Janay Palmer Rice, says she is “hurt beyond words” over how her husband has been treated after the NFL star was sacked for punching her.

Ray Rice has been released by the Baltimore Ravens and suspended indefinitely by the NFL after a video emerged of him hitting his then-fiancée.

The CCTV footage shows them in a lift at the Revel casino in Atlantic City.

They hit each other before Ray Rice knocks her “unconscious” with a punch.

The video, released by the Associated Press, was shown to them on Monday night by a law enforcement official. The pair can be heard swearing and shouting at each other and it looks like Janay Palmer spits at Ray Rice just before he hits her.

Janay Palmer falls to the floor, and he then drags her from the lift, where he is met by hotel staff.

One of them can be heard saying: “She’s drunk, right?”

And then: “No cops.”

Ray Rice does not seem to respond.

A video of Ray Rice pulling Janay Palmer from the lift first emerged months ago on TMZ. It didn’t show the full attack.

Janay Palmer and Ray Rice have since married.

In a post on Instagram, Janay Rice says it feels like a “horrible nightmare” and seemingly defends her husband.

She blames the media and public outcry for taking “something away from the man I love that he has worked his ass off for all his life”.

After suggesting the pair regret the incident she said it has left them feeling hurt, embarrassed, alone and without happiness.

“THIS IS OUR LIFE… Just know we will continue to grow & show the world what real love is!”

Ray Rice has been released by the Baltimore Ravens and suspended indefinitely by the NFL after a video emerged of him hitting his then fiancée Janay Palmer 640x460 photo

Ray Rice has been released by the Baltimore Ravens and suspended indefinitely by the NFL after a video emerged of him hitting his then-fiancée Janay Palmer (photo AP)

Things are continuing to get worse for Ray Rice – Nike have confirmed they have dropped him as one of their sponsored athletes and EA Sports are removing him from their 2015 version of the NFL game Madden.

Meanwhile, local businesses in Baltimore have begun offering discounted goods in return for Ray Rice jerseys.

Hersh’s pizzeria posted their offer on Facebook: “Come trade your Ray Rice Ravens Jersey in for a free pizza at Hersh’s. These jerseys will save us money on toilet paper this week.”

Their neighbors, the No Idea Tavern responded on Twitter with their own offer – a ten dollar bar tab for every jersey handed to them.

The latest from the Baltimore Ravens came in a one-sentence press release on September 8.

“The Baltimore Ravens terminated the contract of RB Ray Rice this afternoon,” it said.

Earlier in the day the team had claimed to have never seen the video.

“It’s something we saw for the first time today, all of us,” said Coach John Harbaugh.

“It changed things, of course. It made things a little bit different.”

He said he had spoken with Ravens owner Steve Bisciotti, team president Dick Cass and general manager Ozzie Newsome after they saw the video and they then decided to fire Ray Rice.

Back in July, after the shorter video emerged, Ray Rice was suspended for two games for domestic violence. He said his actions were “inexcusable”.

At the time Ozzie Newsome said: “We respect the efforts Ray has made to become the best partner and father he can be.

“That night was not typical of the Ray Rice we know and respect.

“We believe that he will not let that one night define who he is, and he is determined to make sure something like this never happens again.”

Ray Rice was also arrested over the incident and an Atlantic City police summons stated that he caused “bodily injury to Janay Palmer, specifically by striking her with his hand, rendering her unconscious”.

He was charged with felony aggravated assault, but in May he was accepted into a pretrial intervention program that allowed him to avoid jail.

Coach John Harbaugh said at the time: “The thing I appreciate about it is how Ray has handled it afterward by acknowledging it was wrong and he’ll do everything he can do to make it right.

“That’s what you ask for when someone does a wrong thing. So, I’m proud of him for that.”

The NFL Commissioner Roger Goodell has announced that, based on the new video evidence, Ray Rice has been suspended indefinitely.

“We requested from law enforcement any and all information about the incident, including the video from inside the elevator,” NFL spokesman Greg Aiello said on Monday morning.

“That video was not made available to us and no one in our office has seen it until today.”

This echoes what Roger Goodell said on August 1 during the Pro Football Hall of Fame induction weekend, when he claimed they were still “evaluating” the situation.

“I’m not going to go into what he told us or anything or if it matches or if it doesn’t,” Ravens receiver Torrey Smith said.

“That doesn’t matter. What matters is what you see. It wasn’t a pleasant site at all.”

The White House has also released a statement saying: “The President is the father of two daughters.

“And like any American, he believes that domestic violence is contemptible and unacceptable in a civilized society.

“Hitting a woman is not something a real man does, and that’s true whether or not an act of violence happens in the public eye, or, far too often, behind closed doors.”

So far Ray Rice’s lawyer, Michael Diamondstein, has declined to comment

Ray Rice hasn’t spoken often to the media, but on July 31 he said it was “something I have to live with the rest of my life”.

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Michael Schumacher has left a Swiss hospital to continue his recovery at home, his manager Sabine Kehm has announced.

Sabine Kehm said in a statement that he had made “progress”, but there was “a long and difficult road ahead”.

Former F1 champion Michael Schumacher suffered a head injury in a skiing accident in France in December last year and was transferred to the Swiss hospital in June.

Michael Schumacher’s family said in June that he had come out of a medically induced coma to reduce swelling in his brain.

He spent six months at a hospital in France after his accident, before being transferred to the hospital in Lausanne. His family home is in Gland, which is on the shores of Lake Geneva, some 25 miles from Lausanne.

“Henceforth, Michael’s rehabilitation will take place at his home. Considering the severe injuries he suffered, progress has been made in the past weeks and months,” Sabine Kehm said in a statement on September 9.

Michael Schumacher has left a Swiss hospital to continue his recovery at home 640x479 photo

Michael Schumacher has left a Swiss hospital to continue his recovery at home

The statement did not give any indication of whether there had been a change in the state of Michael Schumacher’s health.

“We ask that the privacy of Michael’s family continue to be respected, and that speculations about his state of health are avoided,” it added.

Michael Schumacher’s family and manager also thanked the team at CHUV Lausanne hospital “for their thorough and competent work”.

He underwent two operations to remove blood clots from his brain before he was put into a medically induced coma to try to reduce swelling.

Investigators probing the accident at the French ski resort of Meribel said Michael Schumacher had been going at the speed of “a very good skier” at the time of his crash.

Michael Schumacher had been skiing off-piste when he fell and hit a rock, they said.

Last month, a man arrested on suspicion of leaking Michael Schumacher’s medical files was found hanged in his cell.

The man, who has not been named, was a manager at Swiss air rescue firm Rega, which was involved in the transfer of Schumacher from Grenoble, France, to Lausanne.

Michael Schumacher’s medical records were allegedly stolen and offered for sale to several newspapers.

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Serena Williams has won her sixth US Open and 18th Grand Slam title after beating Caroline Wozniacki in straight sets, 6-3 6-3, at Flushing Meadows in New York.

After a poor start from both players, Serena Williams steadied herself to take the first set and found something approaching her best form to dominate the second.

The victory moves her to joint-fourth in the all-time list of major winners, alongside Martina Navratilova and Chris Evert.

Serena Williams, 32, has now won three successive titles at the US Open, the scene of her first Grand Slam triumph 15 years ago.

Serena Williams has won her sixth US Open and 18th Grand Slam title photo

Serena Williams has won her sixth US Open and 18th Grand Slam title (photo Getty Images)

“It was a really wonderful feeling,” said Serena Williams, who was joined by Navratilova and Evert for the trophy presentation, when she also collected $4 million in prize money.

“I couldn’t have finished things in a better way. It is a pleasure for me to win here, I am really emotional. I couldn’t ask to do it at a better place.”

Caroline Wozniacki, a close friend of Serena Williams, said: “Congratulations to Serena. She really deserved it today and played better than me.

“She is an inspiration to me on and off the court and an unbelievable friend – and you definitely owe drinks later!”

Serena Williams arrived in New York having failed to make it past the fourth round of a Grand Slam in 2014, but the American looked a class apart throughout the two weeks at Flushing Meadows.

According to the latest figures from the Bureau of Labor Statistics, the US economy added 142,000 jobs in August 2014, less than the lowest estimate.

The unemployment rate dipped to 6.1% from 6.2% in July 2014.

The world’s largest economy had been averaging a monthly jobs gain of 212,000 in the previous 12 months.

Part of the sluggish jobs growth was attributed to a loss of 17,000 food and beverage jobs as a result of a supermarket store strike.

Thousands of employees of the Market Basket chain of supermarkets in the northeastern US had gone on strike in July to protest the firing of their boss. The dispute was resolved late last week.

US markets did not react strongly to the news, with all three indexes dipping just slightly lower in early morning trading in New York.

The US economy added 142000 jobs in August 2014 less than the lowest estimate 640x428 photo

The US economy added 142,000 jobs in August 2014, less than the lowest estimate

There were some bright spots in the August jobs report: wage growth, a crucial sign of the strength of the US economy, ticked up slightly.

Average hourly earnings are now growing at 2.1% year over year. US Federal Reserve chair Janet Yellen has previously indicated that wages are a crucial factor in the Fed’s analysis of the state of the health of the US jobs market.

Employment in the car industry also dipped less than expected, as fewer workers were laid off for factory retooling.

Jobs growth in the professional and business services also continued to lead the recovery, with an additional 47,000 jobs adding in August, bringing the yearly total to 639,000.

Most analysts believe that the sluggish August figure will give central bankers pause for thought as they consider when to end the Fed’s extraordinary support of the US economy.

The Fed is scheduled to meet on September 16-17.

Many have wondered whether or not so-called “hawks”, who favor increasing interest rates, would be able to persuade other members of the committee to move forward the bank’s plans to raise interest rates from their historically low levels of 0%.

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BP has been found guilty of “gross negligence” in the lead-up to the 2010 Deepwater Horizon oil spill in the Gulf of Mexico.

The New Orleans judge ruling could potentially cost BP billions more in compensation payments.

Judge Carl Barbier also found BP subcontractors Transocean and Halliburton “negligent”.

The 2010 oil spill was the worst in US history, and BP has set aside $43 billion to cover fines, legal settlements, and clean-up costs.

BP said in a statement that it “strongly disagrees” with the ruling and that it would appeal to a higher court.

“The law is clear that proving gross negligence is a very high bar that was not met in this case,” the company said.

BP shares fell 6% after the ruling was announced.

BP has been found guilty of gross negligence in the lead up to the 2010 Deepwater Horizon oil spill in the Gulf of Mexico photo

BP has been found guilty of gross negligence in the lead-up to the 2010 Deepwater Horizon oil spill in the Gulf of Mexico (photo AP)

Judge Carl Barbier said BP should shoulder 67% of the blame for the 2010 spill, with drilling rig owner Transocean responsible for 30% and cement company Halliburton responsible for 3%.

He ruled that BP will be “subject to enhanced civil penalties” due to its “gross negligence” and “willful misconduct”.

The ruling could quadruple the civil penalties that BP must pay as a result of the spill to an estimated $18 billion.

Under the US Clean Water Act, a ruling of negligence would have meant BP was liable to pay $1,100 per barrel of oil spilled; gross negligence increases the penalty to $4,300 per barrel.

In its most recent annual report, BP said it had set aside $3.5 billion for this case – an indication the firm had expected a more lenient ruling.

BP emphasized in its statement that it planned to argue during penalty proceedings for the lesser penalty.

In 2012, BP agreed to accept criminal responsibility for the disaster and agreed to pay $4.5 billion to the US government, thus settling its criminal liability in the spill.

Now, legal efforts have focused on the amount of civil penalties the firm must pay, both to businesses and individuals affected by the spill and to cover environmental clean-up costs.

Also in 2012, BP reached a $9.2 billion civil settlement and agreed to put $20 billion into a trust to pay to businesses and individuals.

However, legal proceedings have continued after BP said it had been forced to pay compensation to some businesses and individuals who were not directly affected.

It is not clear what impact Judge Carl Barbier’s ruling will have on the legal wrangling over that settlement fund.

A date to determine the total number of barrels of oil that were spilled in 2010 as well as a final civil penalty has not yet been announced.

US government experts have estimated a total of 4.2 million barrels spilled into the Gulf; BP has said the figure is closer to 2.45 million.

The European Central Bank (ECB) has cut its benchmark interest rate by 10 basis points to 0.05%, and introduced new stimulus measures.

The ECB had earlier cut its rate from 0.25% to 0.15% in June, and also became the first major central bank to introduce negative interest rates.

It will also launch an asset purchase program, which will buy debt products from banks.

It is hoped this move will add liquidity to the financial system and revive lending.

The move falls short of a program of buying government bonds – a process known as quantitative easing (QE), and one which the US Federal Reserve has undertaken.

ECB chief Mario Draghi said that QE had been discussed by the bank.

“Some of our governing council members were in favour of doing more than I’ve just presented, and some were in favor of doing less,” he said.

“So our proposal strikes the mid-road…. a broad asset purchase program was discussed, and some governors made clear that they would like to do more.”

The ECB has been under pressure to kick-start the eurozone economy, as manufacturing output has slowed and inflation has fallen to just 0.3%.

The ECB has cut its key interest rate to lowest ever level photo

The ECB has cut its key interest rate to lowest ever level

Referring to one element of the new stimulus program, the purchase of asset-backed securities (ABS), Mario Draghi said: “The Eurosystem will purchase a broad portfolio of simple and transparent asset-backed securities with underlying assets consisting of claims against the euro area non-financial private sector under an ABS purchase program.

“This reflects the role of the ABS market in facilitating new credit flows to the economy and follows the intensification of preparatory work on this matter.”

Mario Draghi also gave an update on the ECB’s forecasts for the eurozone economy.

The new predictions warned of slower growth, of 0.9% in 2014, and of 1.6% in 2015.

Meanwhile the forecast for inflation was cut to 0.6% rising to 1.1% in 2015, and well short of the ECB’s target of close to, but below, 2.0%.

After the latest news was announced the euro fell to $1.2996, the lowest since July 2013 and the first time it has fallen below $1.30 since then.

As was the case after the ECB’s last rate cut in June, Mario Draghi again said that cuts had reached “the lower bound”.

The main benchmark refinancing rate determines what banks pay the ECB for credit, and affects what banks charge companies to borrow.

The central bank also cut its deposit rate, what banks pay to keep their money at the central bank, to minus 0.2% from minus 0.1%.

It is hoped that this measure will encourage banks to lend to business, rather than sit on their cash.

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A new abuse lawsuit has been filed against former Penn State assistant coach Jerry Sandusky.

The new accuser claims he was abused about six years ago.

The case was filed in Philadelphia last month by Williamsport attorney Bret Southard, whose client was identified only by his initials, The Centre Daily Times reported.

The lawsuit claims Jerry Sandusky abused the boy during a shopping trip in 2008 or 2009, and after they attended a Penn State game in 2008 against Coastal Carolina University.

The trip would have come around the time law enforcement officials began investigating Sandusky in late 2008, based on a complaint involving a student in central Pennsylvania. They charged him in 2011.

Jerry Sandusky was convicted in 2012 for abusing ten boys and is serving a lengthy state prison sentence photo

Jerry Sandusky was convicted in 2012 for abusing ten boys and is serving a lengthy state prison sentence (photo ABC News)

Bret Southard told the newspaper his client represents a new case. The lawsuit seeks $550,000, along with punitive damages and interest. Penn State previously settled 26 cases for nearly $60 million.

The lawsuit describes the boy as a participant in The Second Mile, the charity for at-risk children Sandusky founded, the newspaper reported.

Second Mile official David Woodle said the charity would “engage with them and try just to understand what’s there and take it through the legal process”. He said The Second Mile now exists only as the owner of real estate that is currently for sale.

Jerry Sandusky, 70, was convicted two years ago for abusing ten boys and is serving a lengthy state prison sentence.

The lawsuit said the accuser was among the boys listed as Second Mile participants on a document taken from Jerry Sandusky’s home during the investigation. Some of the names had check marks next to them.

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Michael Bloomberg has returned to the helm of Bloomberg LP, the data and financial news company he founded more than three decades ago.

The former New York mayor still owns 88% of the company, and is taking up the role less than a year after leaving City Hall.

Michael Bloomberg will be replacing Daniel Doctoroff, who steps aside as president and CEO at the end of the year.

Both men indicated the decision was mutual after realizing there was no room at the top for both of them.

“I never intended to come back to Bloomberg LP after twelve years as Mayor,” Michael Bloomberg said in a statement.

“However, the more time I spent reacquainting myself with the company, the more exciting and interesting I found it – in large part, due to Dan’s efforts.

“I have gotten very involved in the company again and that led to Dan coming to me recently to say he thought it would be best for him to turn the leadership of the company back to me.

“It was a gracious and thoughtful offer and one that I finally accepted after significant pushback and great reluctance.”

Michael Bloomberg launched his namesake company after being fired from investment bank Salomon Brothers photo

Michael Bloomberg launched his namesake company after being fired from investment bank Salomon Brothers

Michael Bloomberg added that Daniel Doctoroff “expertly guided Bloomberg LP through the worst financial crisis of our generation”.

Daniel Doctoroff has led Bloomberg for the past seven years, first as president and then as chief executive in 2011.

Prior to joining Bloomberg LP, Daniel Doctoroff worked as New York City’s Deputy Mayor for Economic Development and Rebuilding for six years.

Daniel Doctoroff said: “I love the company and have deep respect and affection for Mike, so leaving is not an easy decision, but it is the right one for the company, for Mike and for me at this stage of my life.

“It is and has always been Mike’s company and given his renewed interest and energy, it only makes sense for him to retake the helm.”

Michael Bloomberg, 72, launched his namesake company after being fired from investment bank Salomon Brothers and is now worth about $33 billion, according to Forbes magazine.

Many had been expecting him to focus on philanthropy work such as gun control and public health after leaving government.

But after spending an increased amount of time at its headquarters, Michale Bloomberg said he will lead the company “with support from the existing leadership team” but without taking Daniel Doctoroff’s titles.

Bloomberg LP makes most of its income from the computer terminals that it sells to financial institutions and currently has 321,000 terminal subscribers. It also provides legal, government and energy data.

The company holds more than a third of the financial information market and saw revenues rise to over $9 billion in 2014.

The New York-based company has also been aggressively expanding its news offerings by hiring over 500 reporters and editors.

In recent years, Bloomberg LP re-launched its television channel and acquired Businessweek magazine, which is now named Bloomberg Businessweek.