| | |
| With final vote, Congress resolves "fiscal cliff" drama Tuesday, Jan 01, 2013 08:08 PM PST  WASHINGTON (Reuters) - The U.S. Congress approved a rare tax increase on Tuesday that will hit the nation's wealthiest households in a bipartisan budget deal that stops the world's largest economy from falling into a deep fiscal crisis and recession. By a vote of 257 to 167, the Republican-controlled House of Representatives approved a bill that fulfills President Barack Obama's re-election promise to raise taxes on top earners. The Senate passed the measure earlier in a rare New Year's Day session and Obama is expected to sign it into law shortly. ... Full Story | Top |
| Asia stocks at five-month high as end nears for U.S. fiscal cliff Tuesday, Jan 01, 2013 07:39 PM PST  HONG KONG (Reuters) - Asian stocks hit a five-month high and the dollar fell as a last-minute deal looked set to end the U.S. "fiscal cliff" crisis that threatened a U.S. recession and roiled world financial markets. The U.S. Senate early on Tuesday passed a bill that aims to avoid the cliff's automatic implementation of $600 billion in spending cuts and tax increases. The bill easily cleared a procedural vote in the House of Representatives allaying earlier concerns over complaints from a number of Republicans that spending cuts were still not adequately addressed. ... Full Story | Top |
| Analysis: Bumps in "cliff" talks won't deter Wall Street from rallying Tuesday, Jan 01, 2013 07:34 PM PST  NEW YORK (Reuters) - U.S. investors celebrated New Year's Eve believing lawmakers had finally gotten together in a last-ditch effort to avert the "fiscal cliff." For a time, it appeared Tuesday's deliberations in the House of Representatives would be the equivalent of a rough hangover. Members of Congress uncomfortable with a deal brokered between Senate Republicans and the White House threatened to scuttle the deal, which could have hit Wall Street hard after its rally to end 2012 on Monday. ... Full Story | Top |
| "Fiscal cliff" bill sails through House test vote Tuesday, Jan 01, 2013 06:50 PM PST WASHINGTON (Reuters) - A bill to avert the U.S. "fiscal cliff" by canceling most scheduled tax hikes and delaying spending cuts cleared a procedural vote in the U.S. House of Representatives by an overwhelming margin, indicating strong support for final passage in a vote expected later on Tuesday. The House voted 408-10 to approve a rule allowing for consideration of the fiscal cliff bill that was passed by the Senate early on Tuesday. (Reporting by David Lawder; Editing by Peter Cooney) Full Story | Top |
| ArcelorMittal to sell $1.1 billion stake in Canada iron ore unit to POSCO group Tuesday, Jan 01, 2013 06:23 PM PST SEOUL/HONG KONG (Reuters) - ArcelorMittal , the world's biggest steelmaker, will sell a $1.1 billion stake in a Canadian iron ore mine operator to a consortium that includes South Korean steelmaker POSCO and Taiwan-listed China Steel Corp, China Steel said in a statement. ArcelorMittal, formed in 2006 when India-born Lakshmi Mittal's steel business bought European peer Arcelor for $33 billion, is battling sluggish steel demand and is looking to offload assets to cut debt. The sale of a 15 percent stake in Canada's Labrador Trough iron ore mining and infrastructure asset is part of that ... Full Story | Top |
| Top House Republican predicts final passage of "fiscal cliff" bill Tuesday, Jan 01, 2013 05:44 PM PST WASHINGTON (Reuters) - A senior Republican in the U.S. House of Representatives said he expected the chamber to give final approval on Tuesday night to the Senate-passed "fiscal cliff" bill. Rules Committee Chairman David Dreier made the prediction in a brief interview with Reuters after his panel cleared the way for the measure to be brought to the House floor. Dreier said he expected it to pass with bipartisan support, but declined to guess how many Republicans would back it, other than to say, "Quite a few." (Reporting By Thomas Ferraro; Editing by Peter Cooney) Full Story | Top |
| House to vote on Senate "fiscal cliff" bill Tuesday night: aide Tuesday, Jan 01, 2013 05:37 PM PST WASHINGTON (Reuters) - The House of Representatives will vote later on Tuesday on the Senate "fiscal cliff" bill to avoid massive tax hikes and spending cuts, a congressional aide said. The Senate bill raises taxes on families earning more than $450,000 a year. (Reporting By Kim Dixon, Rachelle Younglai; Editing by Peter Cooney) Full Story | Top |
| House preparing to vote on Senate "fiscal cliff" bill: Democrat Hastings Tuesday, Jan 01, 2013 05:23 PM PST WASHINGTON (Reuters) - The House of Representatives is preparing to vote on the Senate's "fiscal cliff" bill, Democratic Representative Alcee Hastings said on Tuesday, increasing the odds that Congress will stave off steep tax hikes and spending cuts. Hastings, a member of the House Rules Committee, said the panel was working out the procedure for voting on the Senate bill that raises taxes on families earning over $450,000 a year. House Republicans had considered changing the Senate bill to add new spending cuts. ... Full Story | Top |
| South Korea's Hyundai, Kia expect slowest sales growth in 10 years Tuesday, Jan 01, 2013 04:46 PM PST  SEOUL (Reuters) - South Korea's biggest automakers Hyundai Motor Co and affiliate Kia Motors Corp are targeting a 4 percent increase in global sales this year to a combined 7.41 million vehicles, their slowest growth since 2003. The duo, which together ranks fifth in global car sales, is bracing for more modest growth after years of expansion at breakneck speed. Group chairman Chung Mong-koo has slowed capacity building to focus on improving branding and profitability in the hopes of better competing with rivals that include Japan's Toyota Motor Corp . ... Full Story | Top |
| Analysis: "Fiscal cliff" deal called a dud on deficit front Tuesday, Jan 01, 2013 04:05 PM PST  WASHINGTON (Reuters) - In the controversy surrounding the "fiscal cliff" issue, it's easy to forget that the origin of the entire debate was a professed desire to reduce swollen federal deficits. Whether the target was $4 trillion over 10 years, as proposed by the Bowles-Simpson deficit reduction commission, or in the $2 trillion range, as tossed around by House of Representatives Speaker John Boehner and President Barack Obama, the idea was to rein in total debt that now tops $16 trillion. By those standards, the bill passed by the U.S. ... Full Story | Top |
| House Republicans seek $330 billion in spending cuts in fiscal cliff amendment Tuesday, Jan 01, 2013 03:50 PM PST WASHINGTON (Reuters) - Republicans in the U.S. House of Representatives are looking to add an amendment to the Senate-passed "fiscal cliff" legislation that would cut spending by $330 billion, Republican Representative Darrell Issa said on Tuesday. Republicans are now weighing whether they will be able to get enough votes to pass such an amendment. If not, they will hold an up-or-down vote on the Senate-passed measure, a Republican aide said. (Reporting By Rachelle Younglai; Writing by Kim Dixon; Editing by Peter Cooney.) Full Story | Top |
| House Republicans aim to bring up Senate "fiscal cliff" bill if option fails: aide Tuesday, Jan 01, 2013 03:39 PM PST WASHINGTON (Reuters) - House Republican leaders may bring the Senate-passed "fiscal cliff" bill up for a vote if they determine they do not have enough support to amend it, a senior aide said on Tuesday. The aide said Republican leaders were trying to determine if they could muster the needed 218 votes from their 241 members. If they fall short, the goal is to bring up the Senate-passed bill for a vote as "soon as possible," the aide said. (Reporting by Thomas Ferraro; Editing by Peter Cooney) Full Story | Top |
| Hyundai, Kia aim to increase 2013 sales by 4 percent Tuesday, Jan 01, 2013 03:23 PM PST  SEOUL (Reuters) - South Korea's Hyundai Motor Co and affiliate Kia Motors Corp are targeting a 4 percent increase in global sales this year to a combined 7.41 million vehicles, their slowest growth since 2003. The duo, which together ranks fifth in global car sales, is bracing for more modest growth after years of expansion at breakneck speed. Group chairman Chung Mong-koo has put the brakes on capacity building to focus on improving their quality and brands and safeguarding profitability. ... Full Story | Top |
| Senate adjourns until Wednesday at 12 noon EST Tuesday, Jan 01, 2013 03:22 PM PST WASHINGTON (Reuters) - The Senate formally adjourned for the evening on Tuesday, which could further complicate the fate of a Senate-passed bill to avert $600 billion in tax hikes and spending cuts known as the "fiscal cliff." Democratic Majority leader Harry Reid adjourned the Senate, which hours before passed legislation raising taxes on incomes above $400,000 and other changes to prevent the country from the effects of tumbling over the cliff. House Republicans were meeting on Tuesday to decide whether to act on the bill. ... Full Story | Top |
| Asia holds breath as U.S. fiscal talks go to the wire Tuesday, Jan 01, 2013 03:21 PM PST  SYDNEY (Reuters) - Markets were eerily quiet in Asia as trade resumed on Wednesday with investors anxiously waiting to see if the U.S. Congress could strike a last-minute deal to avoid triggering tax rises and spending cuts that could threaten the global economy. The U.S. Senate early on Tuesday passed a bill that aims to avoid the "fiscal cliff" of $600 billion in automatic spending cuts and tax increases. However, the package immediately ran into opposition from House Republicans, who were meeting to decide whether to reject or amend the bill . "Frankly, we don't know what to make of it all. ... Full Story | Top |
|
No comments:
Post a Comment