On ‘fiscal cliff,’ both sides lay groundwork for debate’s next phase

Private talks between President Obama and top congressional leaders in search of a deal to avoid the year-end “fiscal cliff” are accelerating, officials said Monday, even as the president began ramping up pressure on Republicans to extend tax cuts for the middle class. Obama telephoned House Speaker John A. Boehner (R-Ohio) and Senate Majority Leader Harry M. Reid (D-Nev.) over the weekend,...

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S. Korea tightens limit on forex forward positions

SEOUL: South Korea announced Tuesday it was lowering the ceiling on foreign exchange forward positions by foreign and local banks, to ease currency volatility after a sharp appreciation in the Korean won.The finance ministry said local branches of foreign banks will have to limit forward deals to 150 per cent of their equity capital, down from the current 200 per cent.The ceiling for domestic...

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Green tax on diesel cars: Auto sector slams cess proposal

NEW DELHI: The automobile industry has come out against any proposal to impose an additional tax on diesel cars over environmental issues. "Diesel is not as polluting as it is made out to be. How can you tax a technology that is very clean and more fuel efficient?" said Vishnu Mathur, DG of industry lobby group, Society of Indian Automobile Manufacturers. While diesel is not a big polluter, there...

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Space Pictures This Week: Space "Horse," Mars Rover, More

High Horse Photograph by Greg Parker, Your Shot The Horsehead Nebula rears its pretty head in a November 17 photograph submitted to National Geographic's Your Shot photo community.Taken...

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Rx OD Risks: Grapefruit-Meds Warning Expanded

Nov 26, 2012 5:48pm Image credit: Johner/Getty ImagesABC News’ Ben Maas reports:It has long been known that grapefruit juice can pose dangerous — and even deadly — risks when taken along with certain medications. Now, experts warn the list of medications that can result in these interactions is longer than many may have believed.Check below to see whether your medication...

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How Hillary Clinton’s past choices predict her future

On a recent Monday, Secretary of State Hillary Rodham Clinton walked with her husband onto a stage at the New York Sheraton to cheers and whoops and a standing ovation that only got louder as she tried to quiet things down. It was a friendly crowd — the annual meeting of her husband’s foundation, the Clinton Global Initiative — and people may have been eager to hear her speech about using...

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Oil down in Asian trade

SINGAPORE: Oil prices were down in Asian trade Monday as markets awaited the outcome of a eurozone finance ministers' meeting aimed at unlocking the next tranche of aid to debt-strapped Greece.Investors were also concerned about looming tax increases and huge spending cuts in the United States, with analysts fearing they could lead to another slowdown in the world's biggest economy.New...

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26/11 anniversary: Experts doubt netas’ claim of safe Mumbai

MUMBAI: Senior police officers and politicians declared on Sunday that Mumbai is prepared to repel any attack of the magnitude of 26/11 but their words were met with disbelief and scepticism.On the eve of the fourth anniversary of the bloody assault, home minister R R Patil admitted that law-enforcement agencies were unequipped to fend off the 10 Pakistani terrorists who landed in Mumbai by sea...

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Distant Dwarf Planet Secrets Revealed

Orbiting at the frozen edges of our solar system, the mysterious dwarf planet Makemake is finally coming out of the shadows as astronomers get their best view yet of Pluto's little sibling. Discovered in 2005, Makemake—pronounced MAH-keh MAH-keh after a Polynesian creation god—is one of five Pluto-like objects that prompted a redefining of the term "planet" and the creation of a new group...

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Fire Kills 112 Workers Making Clothes for US Brands

The 100-plus workers who died in a fire late Saturday at a high-rise garment factory in Bangladesh were working overtime making clothes for major American retailers, including Wal-Mart, according to workers' rights groups.Officials in Bangladesh said the flames at the Tazreen Fashions factory outside Dhaka spread rapidly on the ground floor, trapping those on the higher floors...

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