Closing Tax Loopholes Not Enough to Avert 'Cliff'?

Closing "corporate tax loopholes" sure sounds good to the average, non-corporate American -- so good, in fact, that politicians talk about it all the time.House Speaker John Boehner's fiscal-cliff proposal purports to raise $1.6 trillion in revenue by "clos[ing] special-interest loopholes and deductions while lowering rates."The White House, meanwhile, has complained that Boehner...

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IMF loan to Egypt delayed amid political turmoil

CAIRO (Reuters) - A vital $4.8 billion International Monetary Fund loan to Egypt will be delayed until next month, its finance minister said on Tuesday, intensifying the political crisis gripping the Arab world's most populous nation. As rival factions gathered in Cairo for a new round of demonstrations, Finance Minister Mumtaz al-Said said the delay in the loan agreement was intended...

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US trade gap widens in October as exports fall

WASHINGTON - The US trade deficit widened in October as exports fell sharply from the prior month amid a slowing global economy, government data released Tuesday showed.The trade gap increased to US$42.2 billion from a revised US$40.3 billion in September, the Commerce Department said.Exports fell by 3.6 percent, while imports fell by 2.1 percent.The decline in exports was the sharpest...

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EC asks Centre to stop increase in cap on subsidized LPG cylinders

NEW DELHI: The Election Commission has written to the petroleum ministry directing that the move to raise LPG cylinder cap from six to nine cylinders a year, as reportedly announced by minister Veerappa Moily on Tuesday afternoon, be "stopped forthwith". It has also sought explanation from the minister on the alleged provocation for announcing the sop less than two days before polling for the...

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Smokers celebrate as Wash. legalizes marijuana

SEATTLE (AP) — The crowds of happy people lighting joints under Seattle's Space Needle early Thursday morning with nary a police officer in sight bespoke the new reality: Marijuana is legal under Washington state law.Hundreds gathered at Seattle Center for a New Year's Eve-style countdown to 12 a.m., when the legalization measure passed by voters last month took effect. When the clock struck, they...

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Royal Hoax: DJs 'Shattered' After Nurse's Suicide

The two Australian radio DJs who prank-called the London hospital where Kate Middleton was being treated last week said they were "shattered" and "gutted" after the nurse who answered their call apparently killed herself.Shock jocks Mel Greig, 30, and Michael Christian, 25, cried as they spoke to Australia's Channel 9 overnight in their first public interview since Jacintha...

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Egypt army gets temporary power to arrest civilians

CAIRO (Reuters) - Egypt's government has temporarily given the military the authority to arrest civilians to help safeguard a constitutional referendum planned for Saturday, the official gazette said. The order, gazetted late on Sunday, said the military would support police and liaise with them to protect "vital institutions" until the referendum result is declared. The...

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SAF serviceman injured onboard ship berthed at Changi Naval Base

SINGAPORE: A Singapore Armed Forces (SAF) regular serviceman has been critically injured while onboard the Landing Ships Tank RSS Endeavour, which is berthed at Changi Naval Base.29-year-old ME2 Chee Weng Fai Jason, a Weapon Systems Supervisor, was checking on a berthing rope that was being tightened on Monday afternoon when he got caught between a motorised winch and the rope, said the...

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Wal-Mart lobbying creates storm, company denies illegality

NEW DELHI: The issue of Wal-Mart lobbying today led to a political storm with opposition creating pandemonium in the Rajya Sabha and promising to create further trouble on Tuesday by pressing its demand for a probe and a statement by Prime Minister Manmohan Singh. BJP, CPM, CPI, SP, JD(U), Trinamool Congress, AGP and AIADMK used the issue to target the government over its decision to allow 51% FDI...

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Smokers celebrate as Wash. legalizes marijuana

SEATTLE (AP) — The crowds of happy people lighting joints under Seattle's Space Needle early Thursday morning with nary a police officer in sight bespoke the new reality: Marijuana is legal under Washington state law.Hundreds gathered at Seattle Center for a New Year's Eve-style countdown to 12 a.m., when the legalization measure passed by voters last month took effect. When the clock struck, they...

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