United States and Cuba Reach Informal Deal on Commercial Flights

The United States and Cuba are closer to resuming commercial flights between the two countries. The diplomatic advance would help open the way for U.S. airlines to begin flying to Cuba within months. Officials from both countries said they had reached an understanding on key points and hope to announce a formal deal within days. Cerberus Capital Management is nearing a deal to buy 80% of Avon Products (AVP) North American business and take a nearly 17% stake in the cosmetics company. The Wall Street Journal says as part of the agreement, Cerberus will take 3 seats on Avon's Board of Directors and the company will name 2 independent directors. Disney (DIS) is banking on 'Star Wars' breaking sales record during its opening weekend. In addition to theaters, some museums and educational institutions are also playing the film, which may help it shatter box office records. Total advance sales in the United States and Canada now stand at more than $100 million.