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| Lawmakers, Obama in last chance talks on "fiscal cliff" Thursday, Dec 27, 2012 07:14 PM PST  WASHINGTON (Reuters) - President Barack Obama and lawmakers are launching a last-chance round of budget talks days before a New Year's deadline to reach a deal or watch the economy go off a "fiscal cliff." Obama and Vice President Joe Biden will meet congressional leaders from both parties at the White House on Friday at 3 p.m. EST (2000 GMT) to try to revive negotiations to avoid tax hikes and spending cuts - together worth $600 billion - that will begin to take effect on January 1. ... Full Story | Top |
| Norman Schwarzkopf, U.S. commander in Gulf War, dies at 78 Thursday, Dec 27, 2012 07:44 PM PST  WASHINGTON (Reuters) - Norman Schwarzkopf Jr., the hard-charging U.S. Army general whose forces smashed the Iraqi army in the 1991 Gulf War, has died at the age of 78, a U.S. official said on Thursday. The highly decorated four-star general died at 2:22 p.m. EST (1922 GMT) at his home in Tampa, Florida, said the official, who spoke on condition of anonymity. The cause of death was not immediately known. Schwarzkopf, a burly Vietnam War veteran known to his troops as Stormin' Norman, commanded more than 540,000 U.S. ... Full Story | Top |
| Jackson to step down as Obama's environmental chief Thursday, Dec 27, 2012 03:54 PM PST  WASHINGTON (Reuters) - U.S. Environmental Protection Agency chief Lisa Jackson, who spearheaded the Obama administration's crackdown on carbon emissions, said on Thursday she will step down after almost four years of battles with Republican lawmakers and industry over proposed regulations. Under her leadership, the agency declared for the first time that carbon dioxide was a danger to human health and could be regulated under the Clean Air Act, leading the EPA to develop a new regulatory regime to limit carbon emissions. ... Full Story | Top |
| Consumer sentiment weakens as fiscal crisis looms Thursday, Dec 27, 2012 09:59 AM PST  WASHINGTON (Reuters) - U.S. consumer confidence fell more than expected in December, hitting a four-month low as a looming fiscal crisis sapped what had been a growing sense of optimism about the economy. The report heightened concerns that a failure by Washington to avert planned tax hikes and spending cuts could lead households to close their wallets, threatening an economic recovery that has been steady albeit lackluster. ... Full Story | Top |
| Russia's Putin signals he will sign U.S. adoption ban Thursday, Dec 27, 2012 11:40 AM PST  MOSCOW (Reuters) - President Vladimir Putin signaled on Thursday he would sign into law a bill barring Americans from adopting Russian children and sought to forestall criticism of the move by promising measures to better care for his country's orphans. In televised comments, Putin tried to appeal to people's patriotism by suggesting that strong and responsible countries should take care of their own and lent his support to a bill that has further strained U.S.-Russia relations. "There are probably many places in the world where living standards are higher than ours. ... Full Story | Top |
| Syria envoy calls for political change to end conflict Thursday, Dec 27, 2012 10:53 AM PST  BEIRUT (Reuters) - The international envoy seeking a negotiated solution to Syria's 21-month-old conflict said on Thursday political change was needed to end the violence which has killed 44,000 people. Speaking in Damascus at the end of a five-day trip during which he met President Bashar al-Assad, Lakhdar Brahimi called for a transitional government to rule until elections and said only substantial change would meet demands of ordinary Syrians. ... Full Story | Top |
| Egypt's Mubarak moved to army hospital on health concerns Thursday, Dec 27, 2012 12:44 PM PST  CAIRO (Reuters) - Hosni Mubarak, the Egyptian strongman ousted last year after 30 years in power, was moved to an army hospital from a prison hospital on Thursday following a fall that raised fresh concerns about his fragile health. Mubarak, 84, was forced out in a 2011 uprising and sentenced to life in prison in June of this year for his role in killing protesters during the revolt. He was admitted to a prison hospital that month following what security officials called a "health crisis". ... Full Story | Top |
| Apple CEO's pay takes big hit vs. record 2011 package Thursday, Dec 27, 2012 02:44 PM PST  NEW YORK (Reuters) - Apple Inc CEO Tim Cook's 2012 compensation package of $4.17 million is a huge cut on paper for the top executive of the most valuable U.S. corporation, after a 2011 package fattened by more than $376 million in long-term stock awards. Cook received the largest single pay package awarded to a company CEO in about a decade when he replaced Apple co-founder Steve Jobs in August last year, shortly before the Silicon Valley legend's death in October 2011. The maker of the iPhone and iPad made the 2012 compensation disclosures in a regulatory filing on Thursday. ... Full Story | Top |
| After Newtown, Americans want their guns, with some restrictions Thursday, Dec 27, 2012 03:29 PM PST  (Reuters) - Nearly seven in 10 Americans support the idea of placing strong or moderate limits gun ownership following the mass shooting at Sandy Hook Elementary School, a Reuters/Ipsos poll said on Thursday. But laws that permit citizens to carry concealed weapons or use lethal force for protection while in public were just as popular, the poll said. The Reuters/Ipsos poll, which surveyed 1,477 Americans online between December 23 and 27, highlighted the difficulty U.S. ... Full Story | Top |
| Former President George H.W. Bush remains in intensive care Thursday, Dec 27, 2012 07:34 PM PST  AUSTIN, Texas (Reuters) - Former President George H.W. Bush remained in the intensive care unit of a Houston hospital on Thursday, but his longtime chief of staff issued a reassuring message, urging the media and the public to "put the harps back in the closet." Bush, 88, a Republican who during his one term in office led a coalition of nations that ejected Iraqi forces from Kuwait in 1991, was admitted to Methodist Hospital November 23 for bronchitis. He was transferred to intensive care on Sunday after setbacks including a persistent fever, family spokesman Jim McGrath has said. ... Full Story | Top |
| Lawmakers set up 11th-hour bid on "fiscal cliff" Thursday, Dec 27, 2012 03:30 PM PST WASHINGTON (Reuters) - Lawmakers on Thursday gave themselves a last chance to prevent the United States from plunging off a "fiscal cliff" by setting up a late session in Congress a day before taxes are due to rise for most working Americans. Republican leaders in the House of Representatives told their members to be back in Washington from the Christmas holiday break on Sunday in case they need to vote on budget measures. ... Full Story | Top |
| Snow buries parts of Northeast, flights canceled Thursday, Dec 27, 2012 01:51 PM PST  BUFFALO, New York (Reuters) - A powerful winter storm pushed through the U.S. Northeast on Thursday, forcing the cancellation of hundreds of airline flights while bringing some holiday cheer to families hoping for snow and lifting spirits at ski resorts in the region. The storm dumped a foot of snow on parts of the United States with the heaviest snow falling across northern New York and New England, the National Weather Service reported. ... Full Story | Top |
| Former President George H.W. Bush remains in intensive care Thursday, Dec 27, 2012 02:38 PM PST AUSTIN, Texas (Reuters) - Former President George H.W. Bush remained in the intensive care unit of a Houston hospital on Thursday, according to a hospital spokesman. Bush, 88, a Republican who during his one term in office led a coalition that ejected Iraqi forces from Kuwait in 1991, was admitted to Methodist Hospital November 23 for bronchitis. He was transferred to intensive care on Sunday after setbacks including a persistent fever, family spokesman Jim McGrath has said. "I don't have any guidance so far today except to say no news is good news," McGrath said on Thursday. ... Full Story | Top |
| Toyota seeks to settle acceleration case for $1.1 billion Wednesday, Dec 26, 2012 09:55 PM PST  DETROIT (Reuters) - Toyota Motor Corp has agreed to spend $1.1 billion to settle sweeping U.S. class-action litigation over claims that millions of its vehicles accelerate unintentionally, as the Japanese automaker seeks to move past the biggest safety crisis in its history. Shares of Toyota rose nearly 3 percent in Tokyo following the news, with some investors saying the settlement removed one uncertainty for the company and looked manageable given its improving sales outlook and a weaker yen. ... Full Story | Top |
| House sets Sunday session as "fiscal cliff" deadline nears Thursday, Dec 27, 2012 01:00 PM PST  WASHINGTON (Reuters) - The House of Representatives will return to Washington on Sunday night, just over a day before income tax rates are set to spike higher, in a last-ditch chance to avert the year-end "fiscal cliff." Senior Republican aides confirmed that House Speaker John Boehner on Thursday told members to be back in Washington in time for a 6:30 p.m. EST (2330 GMT) legislative session on Sunday. The House may then stay in session until January 2, the final day of the current Congress, according to a Twitter message from House Majority Leader Eric Cantor. ... Full Story | Top |
| Americans blame Republicans more than Democrats for "fiscal cliff": Reuters/Ipsos poll Thursday, Dec 27, 2012 12:17 PM PST  WASHINGTON (Reuters) - Americans blame Republicans in Congress more than congressional Democrats or President Barack Obama for the current "fiscal cliff" crisis, as the deadline approaches for action to avert big tax increases and spending cuts, a Reuters/Ipsos poll showed on Thursday. When asked who they believed to be more responsible for the "fiscal cliff" situation, 27 percent blamed Republicans in Congress, 16 percent blamed Obama and 6 percent pointed to Democrats in Congress. The largest percentage - 31 percent - blamed "all of the above. ... Full Story | Top |
| Rajaratnam agrees to pay $1.5 million disgorgement in SEC case Wednesday, Dec 26, 2012 09:23 PM PST  (Reuters) - U.S. hedge fund manager Raj Rajaratnam has agreed to pay disgorgement of about $1.5 million in a civil lawsuit filed by the Securities and Exchange Commission, and to waive his right to appeal the judgment, court papers showed. Rajaratnam would make the payment, representing the profits obtained by unlawful means, to the SEC within 90 days after the entry of the final judgment in court records, according to a filing. Rajaratnam, currently serving a 11-year prison term, was convicted of securities fraud and conspiracy in May 2011. ... Full Story | Top |
| Cabinet resignations deal setback for Egypt's Mursi Thursday, Dec 27, 2012 10:51 AM PST  CAIRO (Reuters) - An Islamist minister quit Egypt's government on Thursday, the second cabinet resignation this week, as President Mohamed Mursi tries to shore up his authority and gather support for unpopular austerity measures. An economic crisis and a battle over a new constitution have underlined bitter divisions between Islamist-backed Mursi and his liberal opponents and delayed a return to stability almost two years since a popular uprising. ... Full Story | Top |
| New home sales climb to highest rate since April 2010 Thursday, Dec 27, 2012 07:05 AM PST  WASHINGTON (Reuters) - New single-family home sales accelerated in November to the fastest pace in 2 1/2 years and median sales price jumped from the same month in 2011, signs that the U.S. housing recovery is gaining some steam. The Commerce Department said on Thursday sales climbed 4.4 percent last month to a seasonally adjusted 377,000-unit annual rate. That was in line with analysts' forecasts of a 378,000-unit annual pace. Government data for new home sales are subject to substantial revisions. ... Full Story | Top |
| Consumer confidence hits four-month low in December Thursday, Dec 27, 2012 07:13 AM PST NEW YORK (Reuters) - Consumer confidence fell to a four-month low in December as a looming budget crisis sapped what had been a growing sense of optimism about the economy, a private sector report released on Thursday showed. The Conference Board, an industry group, said its index of consumer attitudes fell to 65.1 from a downwardly revised 71.5 in November. Economists had expected a reading of 70.0, according to a Reuters poll. November's number was originally reported as 73.7. While the present situation index rose to 62.8 from an upwardly revised 57. ... Full Story | Top |
| Iran will open suspect military base if threats dropped: report Thursday, Dec 27, 2012 05:10 AM PST  DUBAI (Reuters) - Iran would let U.N nuclear inspectors into a military base they suspect was used for atomic weapons-related work, if threats against the Islamic Republic are dropped, a government official was quoted as saying. The International Atomic Energy Agency (IAEA) believes Iran conducted explosives tests with possible nuclear applications at Parchin, a sprawling military base southeast of Tehran, and has repeatedly asked to inspect it. ... Full Story | Top |
| Exclusive: Profits up, but Britain gets less tax from big firms Thursday, Dec 27, 2012 01:09 AM PST  LONDON (Reuters) - Big companies in Britain now pay less tax than they did 12 years ago despite a big jump in profitability, a Reuters analysis of official data shows. Tax campaigners say the trend is the clearest signal yet that tax avoidance has blossomed under a more business-friendly strategy at the UK tax authority Her Majesty's Revenue and Customs (HMRC). Large companies' payments of corporation tax - the UK equivalent of corporate income tax - totaled 21 billion pounds ($34 billion) in 2011/12, HMRC data shows. ... Full Story | Top |
| Central African Republic appeals for French help against rebels, Paris balks Thursday, Dec 27, 2012 12:23 PM PST  BANGUI (Reuters) - The president of the Central African Republic appealed on Thursday for France and the United States to help push back rebels threatening his government and the capital, but Paris said its troops were only ready to protect French nationals. The exchanges came as regional African leaders tried to broker a ceasefire deal and as rebels said they had temporarily halted their advance on Bangui, the capital, to allow talks to take place. ... Full Story | Top |
| Nelson Mandela "not yet fully recovered": spokesman Thursday, Dec 27, 2012 06:44 AM PST  JOHANNESBURG (Reuters) - Former South African President Nelson Mandela is doing well after being discharged from hospital, although he is still not fully recovered, a government spokesman said on Thursday. "He is not yet fully recovered, but he has sufficiently moved forward so that he can be discharged," Mac Maharaj told local broadcaster eNCA. "He is sufficiently well to be home. ... Full Story | Top |
| Amazon most satisfying website to shop: survey Wednesday, Dec 26, 2012 09:02 PM PST  (Reuters) - Amazon.com Inc remained the best website for shopping online while JC Penney Co Inc suffered the largest drop in customer satisfaction of any major online retailer this holiday season, according to a survey released on Thursday. Flash sale sites Gilt.com and RueLaLa.com were among the worst performers in online shopping satisfaction this season, according to ForeSee's Holiday E-Retail Satisfaction Index. ... Full Story | Top |
| Pakistan Taliban spokesman outlines conditions for ceasefire Thursday, Dec 27, 2012 05:47 AM PST ISLAMABAD/PESHAWAR, Pakistan (Reuters) - The Pakistani Taliban have outlined conditions for a ceasefire, including the adoption of Islamic law and a break with the United States, a spokesman said Thursday, an offer dismissed out of hand by the interior minister. The Taliban, in a letter sent to the Pakistan daily The News, also demanded that Pakistan stop its involvement in the war pitting Afghan insurgents against the Kabul government and refocus on a war of "revenge" against India. ... Full Story | Top |
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