Stocks soar after Congress passes "fiscal cliff" bill

A trader smiles on Jan. 2, 2013, on the trading floor of the New York Stock Exchange in New York. / Spencer Platt/Getty Images Play VideoCongress approves plan to avert "fiscal cliff"NEW YORK Stocks roared higher on Wall Street and around the world after Congress passed a last-minute budget deal to avert sweeping tax hikes and government spending cuts.The Dow Jones industrial jumped 308 points...

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Christie Calls Boehner's Sandy Decision 'Disgusting'

New Jersey Gov. Chris Christie said today that it was "disgusting" that the House adjourned without voting on a $60 billion relief package for the victims of superstorm Sandy and put the blame squarely on a fellow Republican -- House Speaker John Boehner.Christie, who is considered a possible Republican presidential candidate four years from now, said there was "only one group...

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13 key stories to watch for in 2013

Among the few virtual certainties of 2013 is the ongoing anguish of Syria and the decline of its president, Bashar al-Assad.STORY HIGHLIGHTSLook for more unrest amid power transitions in the Middle EastDisputes and economic worries will keep China, Japan, North Korea in the newsEurope's economy will stay on a rough road, but the outlook for it is brighterEvents are likely to draw attention to cyber...

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Motorcycle bomb kills four in Pakistan's Karachi

KARACHI: A motorcycle bomb exploded Tuesday near the venue of a major political rally in Pakistan's largest city Karachi, killing four people and injuring 42 others, officials said.The bombing appeared to be targeted at buses carrying supporters of the city's dominant political party, the Muttahida Qaumi Movement (MQM), which organised the rally attended by thousands of people."The latest...

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Pelosi: 'Gigantic' progress in talks

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61 killed in post-celebration stampede in Ivory Coast

ABIDJAN, Ivory CoastA crowd stampeded after leaving a New Year's fireworks show early Tuesday in Ivory Coast's main city, killing 61 people — many of them children and teenagers — and injuring more than 200, rescue workers said. Thousands had gathered at the Felix Houphouet Boigny Stadium in Abidjan's Plateau district to see the fireworks. It was only the second New Year's Eve fireworks display...

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House Hesitates, Fears Cliff Deal Could Bloat Deficit

Top House Republicans today opposed a bipartisan compromise that passed the Senate in the wee hours of New Year's Day to avert the "fiscal cliff," as new studies conclude that the compromise on taxes and spending would add trillions to the U.S. deficit.If House Republicans tweak the legislation, as they seem likely to do, there's no clear path for its return to the Senate before...

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13 key stories to watch for in 2013

Among the few virtual certainties of 2013 is the ongoing anguish of Syria and the decline of its president, Bashar al-Assad.STORY HIGHLIGHTSLook for more unrest amid power transitions in the Middle EastDisputes and economic worries will keep China, Japan, North Korea in the newsEurope's economy will stay on a rough road, but the outlook for it is brighterEvents are likely to draw attention to cyber...

Read More..

'Fiscal cliff' deal talk, Apple lift US stocks at year-end

WASHINGTON: US markets closed out the year on Monday with a sharp jump on news that Congress was close to a deal to avert the fiscal cliff - but also on a 4.4 percent gain by market giant Apple.The Dow Jones Industrial Average finished up 166.03 points (1.28 percent) at 13,104.14.The broad-market S&P 500 gained 23.79 points (1.69 percent) at 1,426.19, while the tech-rich Nasdaq Composite...

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Obama: Fiscal cliff deal is near

STORY HIGHLIGHTSNEW: No House vote Monday night, leadership saysNEW: McConnell says a deal is "very, very close," but GOP blasts Obama comments Possible agreement calls for increase in income, estate taxesThe fiscal cliff triggers broad tax increases and an automatic $110 billion in spending cutsAs the fiscal cliff looms, what's your New Year's message to Washington? Go to CNN iReport to share your...

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