Today's Yahoo! News - Latest News & Headlines:
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Democrats mull dropping millionaire surtax
Wed,14 Dec 2011 07:55 PM PST
Reuters -  WASHINGTON (Reuters) - President Barack Obama and fellow Democrats on Wednesday signaled a willingness to drop a proposed surtax on millionaires, but remained at odds with Republicans in efforts to extend an expiring payroll tax cut for 160 million Americans. Obama discussed abandoning the surtax, which Republicans have denounced as a levy on "job creators," at a meeting with Senate Majority Leader Harry Reid and other top Senate Democrats at the White House, party aides said. ...
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China says will hit U.S. auto imports with duties
Wed,14 Dec 2011 02:41 PM PST
Reuters -  BEIJING/WASHINGTON - (Reuters) - China will impose punitive duties of up to 22 percent on large cars and SUVs exported from the United States, China's Commerce Ministry said on Wednesday, the latest in a series of trade disputes between the world's two largest economies. The new duties take aim at vehicle exports valued near $4 billion and come at an awkward time for U.S.-China relations, with China's currency and trade policies becoming a focus of criticism for U.S. presidential candidates. ...
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ECB's Noyer says French downgrade "not justified"
Wed,14 Dec 2011 05:03 PM PST
Reuters -  PARIS (Reuters) - A downgrade of France's AAA credit rating would not be justified and ratings agencies are making decisions based more on politics than economics, European Central Bank policymaker Christian Noyer said on Thursday. Speaking in an interview with local newspaper Le Telegramme de Brest to be published later on Thursday, Noyer also questioned whether the use of ratings agencies to guide investors was still valid. ...
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Fed won't bail Europe out, Bernanke tells lawmakers
Wed,14 Dec 2011 02:12 PM PST
Reuters -  WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke told Republican senators on Wednesday the Fed can't and won't provide bailout funds to support European banks or nations, lawmakers said. "We're all concerned, is the American taxpayer going to be bailing out European nations and banks," Senator Lindsey Graham told reporters after a meeting with the Fed chairman. "He said, no, he doesn't have the intention or authority to do that," Graham said. (Reporting By Mark Felsenthal and Pedro Nicolaci da Costa; Editing by Chizu Nomiyama)
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Witness: Reflecting on Iraq as U.S. troops withdraw
Wed,14 Dec 2011 05:05 PM PST
Reuters -  BAGHDAD (Reuters) - "Three days after U.S. tanks rolled into Baghdad in April 2003, I had my first encounter with an American marine. I opened my door to find him crouched on the street and holding a pump action shot gun. He wore full combat gear, with knee pads and a heavy pack. I couldn't see his eyes through his black glasses. But he looked nervous. I asked him if there was a problem. "He looked at me and said: 'Sir, we are here to protect you. We are here to liberate you from Saddam's regime and bring you elections to choose your president freely. ...
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Analysis: Supreme Court immigration case a federal-state test
Wed,14 Dec 2011 02:41 PM PST
Reuters -  WASHINGTON (Reuters) - The Supreme Court's promised ruling next year on Arizona's immigration crackdown could turn on how much a state can intrude on federal government enforcement powers. The country's highest court agreed on Monday to decide whether federal immigration laws take precedence and so preempt Arizona's law boosting the power of local police to crack down on illegal immigrants. Oral arguments are likely in April and a ruling by late June. ...
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Exclusive: Regulators know where MF Global funds went
Wed,14 Dec 2011 03:52 PM PST
Reuters -  WASHINGTON (Reuters) - Regulators now have a more complete picture of money transfers in the final days of bankrupt brokerage MF Global, but must sort out which transactions were legitimate before more money can be released to customers, a top official told Reuters on Wednesday. Jill Sommers, who is heading the Commodity Futures Trading Commission's review of MF Global, said regulators "are far enough along the trail" that they know where the money went. "Now it's just finding out which ones of those transactions are legitimate and which ones of them are illegitimate," Sommers said. ...
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Ron Paul gains ground, further stirring Republicans
Wed,14 Dec 2011 02:42 PM PST
Reuters -  AMHERST, New Hampshire (Reuters) - Republican presidential hopeful Ron Paul declared on Wednesday his campaign was "peaking at the right time" as polls show him closing in on the two perceived front-runners. The libertarian congressman from Texas with a passionate core of followers complained that pundits were dismissing his longshot campaign prematurely and sounded optimistic about catching former Massachusetts Governor Mitt Romney and former House of Representatives speaker Newt Gingrich. ...
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Analysis: Can Zynga break free from Facebook?
Wed,14 Dec 2011 04:08 PM PST
Reuters -  NEW YORK (Reuters) - "We generate substantially all of our revenue and players through the Facebook platform and expect to continue to do so for the foreseeable future," Zynga wrote in its IPO prospectus. Technically, the admission is called a risk factor. But since Zynga, the wildly popular maker of mobile and social games such as "Mafia Wars" and "FarmVille," generates about 95 percent of its revenue through Facebook, the worry for investors is that its relationship with Mark Zuckerberg's social network is less a risk factor than a business model. ...
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Syrian troops storm Hama to break anti-Assad strike
Wed,14 Dec 2011 02:42 PM PST
Reuters -  BEIRUT (Reuters) - Syrian troops swept into the city of Hama to break a three-day strike by opponents of President Bashar al-Assad, killing at least 10 people but running into resistance from armed insurgents who destroyed two armored vehicles, activists said. Outside Hama, army deserters attacked a convoy of military jeeps, killing eight soldiers, they said, adding to a death toll of at least 30 people across the country on Wednesday. The assault in Hama was the first armored incursion there since a tank offensive in August crushed huge protests in the city. ...
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U.S. military chapter in Iraq draws to a close
Wed,14 Dec 2011 03:36 PM PST
Reuters -  BAGHDAD (Reuters) - Nearly nine years after the U.S.-led invasion of Iraq ousted Saddam Hussein, American troops are pulling out and leaving behind a country still battling insurgents, political uncertainty and sectarian divisions. Nearly 4,500 U.S. soldiers and tens of thousands of Iraqis lost their lives in a war that began with a "Shock and Awe" campaign of missiles and bombs pounding Baghdad, but later descended into a bloody sectarian struggle between long-oppressed majority Shi'ites and their former Sunni masters. Saddam is dead and the violence has ebbed, but the U.S. ...
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Germans rebuff calls for ECB action after summit
Wed,14 Dec 2011 02:11 PM PST
Reuters -  BERLIN/FRANKFURT (Reuters) - Germany's chancellor and central banker urged Europe to stick to stricter budget discipline and forget about one-shot solutions after financial markets judged that another EU summit had failed to resolve the euro zone's debt crisis. Chancellor Angela Merkel and Bundesbank chief Jens Weidmann, speaking separately, rebuffed pressure for the European Central Bank to intervene decisively to stop the crisis escalating. ...
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Democrats weigh dropping millionaire tax proposal
Wed,14 Dec 2011 02:45 PM PST
Reuters - WASHINGTON (Reuters) - President Barack Obama and fellow Democrats are considering dropping a surtax on millionaires to pay for a payroll tax cut for U.S. workers, a move that would remove a major stumbling block to a compromise deal with Republicans. Obama discussed the possibility of abandoning the millionaire tax, which Republicans strongly oppose, at a White House meeting with Senate Majority Leader Harry Reid and fellow Democrats, a Senate Democratic leadership aide told Reuters. If Democrats drop the plan to impose a 1. ...
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Can Zynga break free from Facebook?
Wed,14 Dec 2011 03:58 PM PST
Reuters - NEW YORK (Reuters) - "We generate substantially all of our revenue and players through the Facebook platform and expect to continue to do so for the foreseeable future," Zynga wrote in its IPO prospectus. Technically, the admission is called a risk factor. But since Zynga, the wildly popular maker of mobile and social games such as "Mafia Wars" and "FarmVille," generates about 95 percent of its revenue through Facebook, the worry for investors is that its relationship with Mark Zuckerberg's social network is less a risk factor than a business model. ...
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Obama: Troops leaving Iraq with heads held high
Wed,14 Dec 2011 12:53 PM PST
Reuters -  FORT BRAGG, North Carolina (Reuters) - President Barack Obama welcomed home some of the last U.S. troops from Iraq on Wednesday, marking a symbolic end to the nearly nine-year war that strained America's armed forces and damaged its standing worldwide. Addressing soldiers at Fort Bragg, North Carolina, home of the 82nd Airborne Division, Obama stopped short of declaring victory in Iraq but called the winding down of the conflict "an extraordinary achievement. ...
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Dems drop millionaires tax in year-end dispute
Wed,14 Dec 2011 07:43 PM PST
AP -  Democrats backed away from their demand for higher taxes on millionaires as part of legislation to extend Social Security tax cuts for most Americans on Wednesday as Congress struggled to clear critical year-end bills without triggering a partial government shutdown.
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Romney intensifies criticism of Gingrich
Wed,14 Dec 2011 07:04 PM PST
AP -  His attacks growing ever more personal, Mitt Romney on Wednesday questioned chief rival Newt Gingrich's temperament, spending habits and allegiance to both the GOP and the middle class while hecklers confronted Gingrich in the lead-off caucus state.
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Could US drivers ever abide by cellphone ban?
Wed,14 Dec 2011 05:52 PM PST
AP -  Junior Woods has a well-practiced routine for conducting business on the road: While driving throughout rural Arkansas, the electronics salesman steals a glance at his cellphone every so often, checking for text messages and emails.
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Fallout from FAMU: Ga. high schools suspend bands
Wed,14 Dec 2011 07:42 PM PST
AP -  The fallout from the death of a Florida A&M University drum major broadened Wednesday to nearly two dozen high schools in Georgia, where marching band activities were suspended over concerns of "inappropriate physical activity" between band mates.
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FACT CHECK: GOP candidates get Obama policy wrong
Wed,14 Dec 2011 05:33 PM PST
AP - Republican presidential candidates have claimed that the Obama administration is cleansing government files of references to radical Islam, an assertion so juicy that politicians keep repeating it — even though it's a wild exaggeration. Full Story | Top |
Lawyer asks judge to endorse Blagojevich for rehab
Wed,14 Dec 2011 05:26 PM PST
AP -  Rod Blagojevich's attorneys have asked to have him placed in a drug abuse program when he starts his 14-year prison sentence for corruption, though they aren't saying if the former Illinois governor has a problem or if it's a legal move.
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