News Archive
National | Mon, Dec 31, 2012

Dec. 31 (Bloomberg) -- Lumber futures may tumble as much as 25 percent from a seven-year high as output increases in Canada, the world’s biggest exporter, according to Forest Economic Advisors LLC.

Dec. 31 (Bloomberg) -- The U.S. House of Representatives doesn’t plan any votes on the federal budget tonight, meaning that Congress for now will fail to avert $600 billion in tax increases and spending cuts set to start at midnight.

Dec. 31 (Bloomberg) -- Secretary of State Hillary Clinton was found to have a blood clot in a vein that runs between her brain and her skull, doctors said today in a statement.

but investors were betting that they would.

Agonizingly close to a New Year's Eve compromise, the White House and congressional Republicans agreed Monday to block across-the-board tax increases set for midnight, but held up a final deal as they haggled away the final hours of 2012 in a dispute over spending cuts.

Dec. 31 (Bloomberg) -- The Defense Department is preparing to notify its 800,000 civilian employees that some of them may have to take unpaid leave next year if lawmakers can’t agree on a budget deal, according to a U.S. defense official.

Dec. 31 (Bloomberg) -- House Agriculture Committee Chairman Frank Lucas and Senate Agriculture Committee Chairman Debbie Stabenow are backing a short-term extension of a farm law that lapsed Sept. 30 as the Obama administration warns that without congressional action, retail milk prices could almost double.

Dec. 31 (Bloomberg) -- With taxes set to increase for almost every U.S. worker at midnight, Congress hasn’t reached a budget deal that Democrats and Republicans say is necessary to prevent a blow to the U.S. economy.

Dec. 31 (Bloomberg) -- A gauge of U.S. corporate credit risk fell as the deadline for an agreement to avert the so- called fiscal cliff approached.

Dec. 31 (Bloomberg) -- U.S. stock futures indicated the Standard & Poor’s 500 Index will fall for a sixth day as Congress worked to reach a budget agreement before the so-called fiscal cliff takes effect.

Dec. 31 (Bloomberg) -- Oil headed for its first annual decline since 2008 in New York as U.S. lawmakers sought an agreement on averting automatic tax increases and spending cuts that threaten the economy of the world’s largest crude consumer.

Dec. 31 (Bloomberg) -- Gold rose, heading for a 12th straight annual gain, on renewed concern that central banks from Europe to China will take steps to spur economic growth while U.S. lawmakers near a budget deadline.

Dec. 31 (Bloomberg) -- Tribune Co., owner of the Chicago Tribune, Los Angeles Times and six other daily papers, emerged from bankruptcy, four years after a doomed leveraged buyout by billionaire Sam Zell led to Chapter 11 proceedings.

Dec. 31 (Bloomberg) -- Carlyle Group LP and investors including Swiss bank Pictet & Cie agreed to buy investment- banking firm Duff & Phelps Corp. for $665.5 million.

Dec. 31 (Bloomberg) -- Secretary of State Hillary Clinton was found to have a blood clot in a vein that runs between her brain and her skull, doctors said today in a statement.

Dec. 31 (Bloomberg) -- Netflix Inc., struck by an interruption of its video-streaming service on Christmas Eve, said today some customers may be unable to access its DVD website because of a technical malfunction.

Dec. 31 (Bloomberg) -- Jared Kushner sold the Manhattan office building that houses his New York Observer newspaper to GreenOak Real Estate LP for $95 million, according to two people with knowledge of the transaction.

and asked how the stock market would perform, few would have predicted a good year.

With a bump in the Washington state minimum wage to $9.19 an hour, high school student Miranda Olson will edge closer to her goal of buying the black Volkswagen Beetle she's been researching online.

It may be a big if, but assuming Washington lawmakers can get past the “fiscal cliff,” many analysts say that the outlook for stocks next year is good, as a recovering housing market and an improving jobs outlook helps the economy maintain a slow, but steady recovery.

Dec. 31 (Bloomberg) -- U.K. stocks dropped for a second day, trimming their annual gains, as concern that U.S. lawmakers haven’t yet reached a budget deal overshadowed growth in Chinese manufacturing and improving British business sentiment.

Dec. 31 (Bloomberg) -- Treasuries fluctuated as Democrat and Republican lawmakers have just hours left to agree on a budget deal that both sides say is necessary to prevent a blow to the nation’s economy.

“The Hobbit: An Unexpected Journey” continues to rule them all at the box office, staying on top for a third-straight week and capping a record-setting $10.8 billion year in moviegoing.

Markets appeared Monday to be taking in stride the ongoing failure of U.S. politicians to agree a budget deal in time to avoid automatic tax increases and spending cuts that many economists think could tilt the world's largest economy back into recession.

The White House and Senate Republicans sorted through stubborn disputes over taxing the wealthy and cutting the budget to pay for Democratic spending proposals as Monday's midnight deadline for an accord avoiding the “fiscal cliff” drew to within hours.

Dec. 31 (Bloomberg) -- A report by federal health care inspectors in November said the U.S. nursing home industry overbills Medicare $1.5 billion a year for treatments patients don’t need or never receive.

Dec. 31 (Bloomberg) -- European Union carbon permits slumped for a fourth year in five as slow economic output in the region curbed demand and offset supply surged.

Prosecutors are investigating allegations that a U.S. medical equipment company offered bribes to hospital officials across the country in order to secure deals, the said Monday.

Dec. 31 (Bloomberg) -- Oil in New York rose on optimism that negotiators will reach a last-minute U.S. budget deal that would avert more than $600 billion of tax increases and spending cuts that threaten economic growth.

The Food and Drug Administration on Monday approved a Johnson & Johnson tuberculosis drug that is the first new medicine to fight the deadly infection in more than four decades.

Irving Azoff, the longtime manager of the Eagles band, is resigning as chairman of concert promoter Live Nation Entertainment Inc. and selling off 1.7 million shares to Liberty Media Corp.

Starbucks Corp. said Monday it completed its $620 million purchase of Teavana Holdings Inc., which sells high-end loose-leaf teas.

It's been almost 60 years since James McEachin returned home with a bullet still lodged in his chest, finding an America indifferent toward the troops who fought in Korea. Now he will get the homecoming parade he had expected.

Five Chinese activists defied security and made a brief visit to dissident Liu Xiaobo's wife Liu Xia, who has been confined under house arrest since her husband was awarded the Nobel Peace Prize two years ago.

Hundreds of thousands of revelers from around the globe are expected to cram into New York City's Times Square to see the ball drop and ring in 2013.

Spoiler alert: This story contains words and phrases that some people want to ban from the English language. “Spoiler alert” is among them. So are “kick the can down the road,” “trending” and “bucket list.”

Pakistani intelligence officials say they have found the bodies of nine militants dumped in the North Waziristan tribal region.

The next phase of transferring security from NATO to Afghan control will begin in two months and aim to cover nearly 90 percent of the country's population, the Kabul government announced Monday.

A Pakistani official says the country has released more members of the Afghan Taliban in a bid to boost the peace process in neighboring Afghanistan.

Deep inside caves, in remote desert bases, in the escarpments and cliff faces of northern Mali, Islamic fighters are burrowing into the earth, erecting a formidable set of defenses to protect what has essentially become al-Qaida's new country.

Jan. 1 (Bloomberg) -- --Republican Leader Mitch McConnell decided it was time to deal directly with the White House when Senate budget talks stalled two days ago -- though not with President Barack Obama.

Mon, Dec 31, 2012