C. African Republic leader faces rebel threat






DAMARA, Central African Republic (AP) — More than 30 truckloads of troops from Chad line the two-lane highway just outside of Damara, supporting Central African Republic government forces who want to block a new rebel coalition from reaching the capital.


In a display of force, the turbaned fighters hold their rocket-propelled grenades and other weapons they threaten to use if the rebels seeking to oust President Francois Bozize push this far south.






Gen. Jean Felix Akaga, who heads the regional force known as FOMAC, says a push on Damara, just 75 kilometers (45 miles) north of the capital, would be “a declaration of war” on the 10 Central African states.


“For us, Damara is the red line that the rebels cannot cross,” Akaga said Wednesday. “If they attack Damara, we will attack.”


The United Nations called for talks between the government and rebels and the Security Council scheduled closed consultations on the Central African Republic on Thursday afternoon.


The multinational force brought journalists up to Damara, where they touted the strength of the Chadian troops, who along with forces from Republic of Congo and Gabon are helping to stabilize the area.


The rebels, though, appear to be holding their positions after taking a string of towns including Sibut, which is 70 miles (112 kilometers) further north from Damara.


Back in 2003, troops under Bozize seized the capital amid volleys of machine-gun and mortar fire, and he then dissolved the constitution and parliament. Now a decade later it is Bozize who himself could be ousted from power.


On Wednesday, he announced through a decree read on state radio that he was dismissing his son, Francis, as defense minister. Chief of Staff Guillaume Lapo also was being replaced.


The president already has promised to form a coalition government with rebels and to negotiate without conditions. It’s a sign of how seriously Bozize is threatened by the rebel groups who call themselves Seleka, which means alliance in the Sango language.


Bozize says there’s one point not up for negotiation: he does not intend to leave office before his term ends in 2016.


“We can’t destroy the country. I don’t think that a transition is a good solution for the rebels, for Central African Republic or for the international community,” said Cyriaque Gonda, a spokesman for the political coalition behind Bozize.


But mediators for the government and others note the rebels — an alphabet soup of acronyms in French, UFDR, CPJP, FDPC and CPSK — want Bozize gone. And that’s the only issue the disparate group seems unified on. Seleka is a shaky alliance that lumps together former enemies.


In September 2011, fighting between the CPJP and the UFDR left at least 50 people dead in the town of Bria and more than 700 homes destroyed.


“Even if they show unity in the military action, we know that they are politically very disunited, the only thing that holds them together is the opposition to the current president,” said Roland Marchal, a Paris-based expert on Central African Republic. “If they take control of the capital I think that divisions would appear quickly.”


Gonda, who has negotiated on behalf of the government with the rebels, says some of them couldn’t even accept sitting together as recently as 2008.


Meanwhile, in some parts of the capital, Bangui, a city of 700,000, life continued as normal, while in others the military buildup was evident.


Trucks full of soldiers bounced on rutted roads dotted with shacks where people can charge mobile phones. Police officers stopped vehicles at intersections. Troops from neighboring nations have arrived including about 120 soldiers each from Republic of Congo and Gabon to help stabilize the area between rebel and the government forces.


In the Bimbo neighborhood, traders went about their business, selling everything from leafy greens to meat at roadside stands.


“We don’t support what the rebels are doing,” said banana farmer Narcisse Ngo, as a young boy played nearby with a monkey corpse for sale along with other meat. “They should be at the table negotiating without weapons. We are all Central Africans.”


Bozize, who seized power while the democratically elected president was traveling outside the country, managed to win elections in 2005 but in the years since he has faced multiple low-level rebellions that have shattered security across the northern part of this large but desperately poor country.


He won the 2011 election with more than 64 percent of the vote, though the United States said the voting was “widely viewed as severely flawed.” The U.S. evacuated its diplomats from Bangui last week.


The most prominent among the rebel groups in Seleka is the UFDR, or Union of Democratic Forces for Unity.


Human Rights Watch, which has documented abuses by both government forces and rebel groups operating in the country’s north, says the UFDR rebellion “has its roots in the deep marginalization of northeastern CAR, which is virtually cut off from the rest of the country and is almost completely undeveloped.”


The rebels, though, also have included some of Bozize’s former fighters who helped bring him to power in 2003 but later accused him of failing to properly pay them, among other grievances, Human Rights Watch says.


For the people now caught in the middle, they want life to return to normal.


“Everyone is suffering here — we have nothing to eat,” said Daniel Ngakou, 55, as he watched the Chadian troops patrol his hometown of Damara. “The women are searching in the bush all day for food. We just don’t know what will happen.”


The United Nations called on the government and the rebels Wednesday to focus on dialogue that can avert violence and lead to a peaceful resolution of the conflict and respect for the 2008 Libreville Comprehensive Peace Agreement. That deal was signed by the government and three major rebel groups.


U.N. spokesman Martin Nesirky reiterated the U.N. Security Council’s call last week for all parties to refrain from any acts of violence against civilians, respect human rights and seek a peaceful solution.


“We welcome regional efforts to seek a political solution and reinforce security,” Nesirky told reporters at U.N. headquarters in New York.


While the United Nations has temporarily withdrawn its staff from Central African Republic, Nesirky said the world body remains engaged in efforts to resolve the crisis.


He said U.N. special representative Margaret Vogt “has remained in close dialogue with the key parties in the Central African Republic and the region and has offered support to political negotiations,” he said.


___


Associated Press writer Oleg Cetinic in Paris and Edith M. Lederer at the United Nations contributed to this report.


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2013′s first hot Kickstarter project: An Android-based gaming ‘console-on-a-stick’






We didn’t have to wait very long to discover what 2013′s first big Kickstarter project would be. Via Ars Technica, we give you the GameStick, an Android-based two-inch long stick that plugs directly into a controller and acts as a highly portable gaming console. The GameStick team says that their goal with the new mini-console was to create “a big screen games console that was so small you could pop it in your pocket… so you can take all your games with you to any TV you like.” As far as titles go, GameStick developers so far have “identified 200 [Android] titles that will be great to play on GameStick” and are also “working with our network of over 250 developers including great studios such as Madfinger, Hutch, Disney and others to bring you the best line-up.” The project is seeking $ 100,000 by February 1st and has already raised over $ 31,500 on its first day; in other words, gamers who invest in the GameStick should see a lot of exciting stretch goals announced over the next month. If fully funded, GameStick is slated to launch to the public by this April.


[More from BGR: ‘iPhone 5S’ to reportedly launch by June with multiple color options and two different display sizes]






This article was originally published by BGR


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‘Tennessee Waltz’ singer Patti Page dies at 85






NASHVILLE, Tenn. (AP) — Unforgettable songs like “Tennessee Waltz” and “(How Much Is That) Doggie in the Window?” made Patti Page the best-selling female singer of the 1950s and a star who would spend much of the rest of her life traveling the world.


When unspecified health problems finally stopped her decades of touring, though, Page wrote a sad-but-resolute letter to her fans late last year about the change.






“Although I feel I still have the voice God gave me, physical impairments are preventing me from using that voice as I had for so many years,” Page wrote. “It is only He who knows what the future holds.”


Page died on New Year’s Day in Encinitas, Calif., according to publicist Schatzi Hageman, ending one of pop music’s most diverse careers. She was 85 and just five weeks away from being honored at the Grammy Awards with a Lifetime Achievement Award from The Recording Academy.


Page achieved several career milestones in American pop culture, but she’ll be remembered for indelible hits that crossed the artificial categorizations of music and remained atop the charts for months to reach a truly national audience.


Tennessee Waltz” scored the rare achievement of reaching No. 1 on the pop, country and R&B charts simultaneously and was officially adopted as one of two official songs by the state of Tennessee. Its reach was so powerful, six other artists reached the charts the following year with covers.


Two other hits, “I Went To Your Wedding” and “Doggie in the Window,” which had a second life for decades as a children’s song, each spent more than two months at No. 1. Other hits included “Mockin’ Bird Hill,” ”Hush, Hush, Sweet Charlotte,” and “Allegheny Moon.” She teamed with George Jones on “You Never Looked That Good When You Were Mine.”


“I just loved singing with Patti and she hit notes I never dreamed of,” Jones said Wednesday in an email to The Associated Press. “We cut some songs together and it was a great time. She’ll be missed by lots of folks and everybody needs to know how great she was. Patti was a wonderful singer with a real special voice.”


So special, Page managed to maintain her career when most singers of her generation and their more innocent songs were shoved aside by the swinging hips of Elvis Presley. Page proved herself something of a match for the nascent rock ‘n’ roll crowd and its obsession with sex, continuing to place songs on the pop charts into the 1960s and the country charts into the ’80s.


Page never kept track, but was told late in life that she’d recorded more than 1,000 songs. That’s not what she had in her mind growing up as young Clara Ann Fowler.


“I was a kid from Oklahoma who never wanted to be a singer, but was told I could sing,” she said in a 1999 interview. “And things snowballed.”


She was popular in pop music and country and became the first singer to have television programs on all three major networks, including “The Patti Page Show” on ABC. In films, Page co-starred with Burt Lancaster in his Oscar-winning characterization of “Elmer Gantry,” and she appeared in “Dondi” with David Janssen and in “Boy’s Night Out” with James Garner and Kim Novak.


She also starred on stage in the musical comedy “Annie Get Your Gun.” Her death came just a few days after the conclusion of the run of “Flipside: The Patti Page Story,” an off-Broadway musical commemorating her life.


In 1999, after 51 years of performing, Page won her first Grammy for traditional pop vocal performance for “Live at Carnegie Hall — The 50th Anniversary Concert.” Page was planning to attend a special ceremony on Feb. 9 in Los Angeles where she was to receive a lifetime achievement award from The Recording Academy.


Neil Portnow, the Academy’s president and CEO, said he spoke with Page and she had been “grateful and excited” to receive the honor. “Our industry has lost a remarkable talent and a true gift, and our sincere condolences go out to her family, friends and fans who were inspired by her work.”


Page was born Nov. 8, 1927, in Claremore, Okla. The family of three boys and eight girls moved a few years later to nearby Tulsa.


She got her stage name working at radio station KTUL, which had a 15-minute program sponsored by Page Milk Co. The regular Patti Page singer left and was replaced by Fowler, who took the name with her on the road to stardom.


Page was discovered by Jack Rael, a band leader who was making a stop in Tulsa in 1946 when he heard Page sing on the radio. Rael called KTUL asking where the broadcast originated. When told Page was a local singer, he quickly arranged an interview and abandoned his career to be Page’s manager.


A year later she signed a contract with Mercury Records and began appearing in nightclubs in the Chicago area.


Her first major hit was “With My Eyes Wide Open I’m Dreaming,” but she got noticed a few years earlier in 1947 with “Confess.”


She created a distinctive sound for the music industry on that song by overdubbing her own voice when she didn’t have enough money to hire backup singers for the single.


“We would have to pay for all those expenses because Mercury felt that I had not as yet received any national recognition that would merit Mercury paying for it,” Page once said.


“Confess” was enough of a hit that Rael persuaded Mercury to let Page try full four-part harmony by overdubbing. The result was “With My Eyes Wide Open I’m Dreaming.” The label read, “Vocals by Patti Page, Patti Page, Patti Page and Patti Page.”


Tennessee Waltz,” her biggest-selling record, was a fluke.


Because Christmas was approaching, Mercury Records wanted Page to record “Boogie Woogie Santa Claus” in 1950.


Page and Rael got hold of “Tennessee Waltz,” convinced that a pop artist could make a smash hit out of it. Mercury agreed to put it on the B-side of the Christmas song.


“Mercury wanted to concentrate on a Christmas song and they didn’t want anything with much merit on the flip side,” Page said. “They didn’t want any disc jockeys to turn the Christmas record over. The title of that great Christmas song was ‘Boogie Woogie Santa Claus,’ and no one ever heard of it.”


Tennessee Waltz” became the first pop tune that crossed over into a big country hit.


The waltz was on the charts for 30 weeks, 12 of them in the top 10, and eventually sold more than 10 million copies, behind only “White Christmas” by Bing Crosby at the time.


She received the Pioneer Award from the Academy of Country Music in 1980. She also is a member of the Oklahoma Jazz Hall of Fame.


In her later career, Page and husband Jerry Filiciotto spent half the year living in Southern California and half in an 1830s farmhouse in New Hampshire. He died in 2009.


Page is survived by her son, Daniel O’Curran, daughter Kathleen Ginn and sister Peggy Layton.


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Bayer’s Nexavar meets goal in thyroid cancer trial






FRANKFURT (Reuters) – German drugmaker Bayer said its drug Nexavar reached a goal of improving the survival of patients with a certain type of thyroid cancer in a late-stage trial.


It said on Thursday it plans to submit data from the trial as the basis for marketing approval of Nexavar to treat radioactive iodine refractory differentiated thyroid cancer.






(Reporting by Maria Sheahan)


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China services growth adds to economic revival hopes






BEIJING (Reuters) – Growth in China‘s increasingly important services sector accelerated in December at its fastest pace in four months, adding to signs of a modest year-end revival in the world’s second-largest economy.


China’s official purchasing managers’ index (PMI) for the non-manufacturing sector rose to 56.1 in December from 55.6 in November, the National Bureau of Statistics (NBS) said on Thursday.






Two PMIs on the manufacturing sector earlier this week also suggested China’s economic growth was picking up late in 2012, although signs persist it depends primarily on state-led investment.


Data so far suggests only a muted revival in economic growth, rather than a return to the double-digit pace seen in China over the past three decades, Hong Kong-based economist Dariusz Kowalczyk said.


“Absolute levels of both December manufacturing and non-manufacturing PMIs remain relatively low by historical standards and consistent with only modest rebound in economic activity,” Kowalczyk, Credit Agricole’s senior economist for Asia except Japan, said.


He said economic growth picked up in the fourth quarter of 2012 after sliding for seven straight quarters, but in sharp contrast to China’s previous, more pronounced bull runs, it could fade after the first quarter of 2013.


The greatest driver in the pick up in the non-manufacturing sector in December was a jump in construction services to 61.9 from 61.3 in November. Industries including transport slumped, the NBS said in an accompanying statement.


A reading above 50 indicates growth is accelerating, while one below 50 indicates it is slowing.


The strength in construction services is consistent with other indicators, including rising land prices, that point to a revival in China’s property markets, which support about 40 other industries. Signs of a pick up come despite central government protestations that it will not relax credit and purchasing curbs that have stifled the sector in the past two years.


The transport slowdown is also consistent with weak demand for China’s exports in the face of euro area and Japan recessions and an uncertain fiscal outlook in the United States.


SERVICES GROW IN IMPORTANCE


The official manufacturing PMI survey in December matched November’s seven-month high of 50.6, the NBS said on Tuesday, while a complementary survey with a greater focus on the private sector reached 51.5, its highest since May 2011.


China’s fast-growing services industry has so far weathered the global slowdown much better than the factory sector, with the PMI consistently signaling healthy expansion and hitting a 10-month high of 58.0 in March.


That’s partly due to a maturing economy as well as a historic shift in the last decade leading a majority of Chinese to live and work in cities rather than the countryside.


China’s services sector generated 43 percent of China’s GDP in 2010 and by 2011 provided nearly 36 percent of new jobs, exceeding the agricultural sector for the first time.


Beijing has acknowledged that greater consumer activity is needed to reduce the economy’s reliance on the exports sector and investment-led growth.


“Expanding domestic demand will be a major stimulus for China’s economic growth, and the greatest potential will come from the service sector,” Xia Nong, deputy director-general of the Department of Industry under the National Development and Reform Commission, said on Friday, according to the China Daily.


Xia pledged to open the services sector to more foreign competition as well as encouraging Chinese service firms to go overseas.


Foreign investment into the service sector of $ 47.57 billion in the first 11 months of 2012 surpassed that directed to the manufacturing industry, which slumped by 7.1 percent, the China Daily said over the weekend, citing Ministry of Commerce data.


The growing services sector has taken up some of the slack from the property sector, which has struggled with investment and purchasing restrictions as well as a credit crunch.


Overseas company investment into China’s urban transportation surged 24-fold in the first 11 months from a year ago, followed by a 12-fold rise in telecommunications and other information services, and a sevenfold increase in pipeline transportation industries, at sevenfold, the China Daily said, again citing Ministry of Commerce figures.


The sector, formerly the bastion of smaller private businesses, is now important enough to have its own five-year plan, issued in September.


(Editing by Neil Fullick)


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Israeli-Palestinian clashes erupt in West Bank






TAMOUN, West Bank (AP) — An arrest raid by undercover Israeli soldiers disguised as vegetable vendors ignited rare clashes in the northern West Bank on Tuesday, residents said, leaving at 10 Palestinians wounded.


Israeli army raids into Palestinian areas to seize activists and militants are fairly common. The raids are normally coordinated with Palestinian security forces, and suspects are usually apprehended without violence.






The clashes began early Tuesday after Israeli forces disguised as merchants in a vegetable truck arrested one man. Regular army forces then entered the town, prompting youths to hurl rocks to try to prevent more arrests.


Israeli forces fired tear gas, rubber bullets and live ammunition as youths set tires and bins on fire to block the passage of military vehicles. In several hours of clashes, dozens of masked youths hid behind makeshift barriers, hurling rocks and firebombs at soldiers.


Faris Bisharat, a resident of Tamoun, said 10 men were wounded, some by live fire. Bisharat said the wanted men belong to Islamic Jihad, a violent group sworn to Israel’s destruction. It wasn’t clear how many men Israeli forces sought to arrest. There were no immediate details on how seriously the 10 were hurt.


The Israeli military said it arrested a “terrorist affiliated with the Islamic Jihad terror group.” It said two soldiers were injured during the raid.


The fighting, which broke out in several parts of the town of some 8,000 people, were a rare, angry response. It was also unusual for Israeli forces to use live fire toward Palestinian demonstrators. Israel says it uses live fire only in extremely dangerous situations.


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7 Apps for Creepers






1. Sneakypix


Ever been waiting on the train platform, minding your business, only to glance to your left and find yourself face-to-face with a grown-up nose picker? In this day and age, our first inclination is to snap a discreet photo. Sneakypix makes it appear as if you’re on a phone call, but instead, aim your camera lens at the nasal aficionado and the app will fire off a series of stealth photos or video. Price: $ 0.99


Click here to view this gallery.






[More from Mashable: Mom Gives Son a Christmas iPhone — With Strings Attached]


Do you have a smartphone? Then chances are you’ve been a creeper.


Now don’t get all defensive, just yet. How many times have you snapped a photo of some hipster’s pink beard on the subway? How often do you send racy pictures to your husband during his business trips? How many times have you wondered whether your teenager was smoking pot on the Williamsburg Bridge or visiting his grandma in Queens?


[More from Mashable: 9 Apps to Fast-Track Your New Years’ Resolutions]


While we’re not advocating sinister, paranoid behavior (take a hike, stalkers), sometimes it’s helpful and downright fun to act like James Bond. And it turns out, you don’t need all the slick gadgets to do it.


These seven iPhone and Android apps will get you started, secret agent-style.


But seriously, for the love of Carl, don’t do anything illegal. Mmm-kay?


Image courtesy of iStockphoto, klosfoto


This story originally published on Mashable here.


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Heartwarming moments defy chill at Rose Parade






PASADENA, Calif. (AP) — A couple who became husband and wife on the “Love Float,” a surprise reunion between a returning soldier and his little boy, and a grand marshal famed globally for her chimpanzee research were among the highlights of the 124th Rose Parade on Tuesday.


The parade’s spectacular 42 floral floats brightened an otherwise cloudy New Year’s morning and boosted the spirits of a chilled crowd estimated at some 700,000 spectators lining the 5-mile route.






“The only way that you’re going to experience the Rose Parade is to be here in person,” said Los Angeles resident Gineen Alcantara-Nakama, who camped out Monday night to save front row sidewalk spots.


“Growing up, I watched it on television, but it’s not the same — the smell, the atmosphere, smelling the flowers as they come down the street. And the energy. It’s like being with family all night long.”


Spectators rose to a standing ovation when Army Sgt. First Class Eric Pazz, who was riding on the Natural Balance Pet Foods float along with other service members, got off the float and walked over to his surprised wife Miriam and 4-year-old son Eric Jr., who came running out of the stands into the arms of his 32-year-old father.


Miriam Pazz had been told she had won a contest to attend the parade and did not know her husband, who is deployed in Afghanistan, would be there. A native of Clio, Mich., Pazz is a highly decorated soldier who has also served in Iraq. The family, who currently lives in Germany, climbed aboard the float for the rest of the route.


Cheers also went up for a Chesapeake, Va., couple who tied the knot aboard Farmers Insurance “Love Float.”


Gerald Sapienza and Nicole Angelillo were high school classmates who reconnected 10 years later and won the parade wedding over three other couples in a nationwide contest. They received a trip to Pasadena, a wedding gown, tuxedo, rings, marriage license fees, Rose Bowl game tickets and hair and makeup for the bride.


The parade’s theme this year was “Oh the Places You’ll Go!” named in honor of the Dr. Seuss book. It served as a fitting slogan for grand marshal British primatologist Jane Goodall, who has spent much of her life in Tanzania studying chimpanzees.


Goodall chose conservation as her message for the parade


“My dream for this New Year’s Day is for everyone to think of the places we can all go if we work together to make our world a better place,” said Goodall, 78.


“Every journey starts with a step and I am pleased to see the Tournament of Roses continue to take steps toward not only celebrating beauty and imagination, but also a cleaner environment.”


This year’s parade also saw the first-ever float entered by the Defense Department.


The $ 247,000 military float was a replica of the Korean War Veterans Memorial in Washington to commemorate the veterans from that conflict.


The float that scooped up the parade’s grand “Sweepstakes” prize for the most beautiful floral presentation and design was “Dreaming in Paradise” by fruit and vegetable producer Dole.


According to parade rules, every inch of the floats must be covered with flowers or plant material, most of it applied by volunteers in the last weeks of December.


Besides floats, the parade also featured 23 marching bands and 21 equestrian units from around the world.


Banda El Salvador, a 200-plus member marching band and folkloric dance troupe, played sassy Latin rhythms and paid homage to their Central American country by dressing in the national colors of blue and white and shouting “Arriba El Salvador!”


The Aguiluchos band from Puebla, Mexico, earned cheers for their fancy footwork and vaquero rope tricks. Colorful dancers from Costa Rica and South Korea were other crowd pleasers.


Die-hard parade fans staked out their spots overnight or in pre-dawn hours with folding chairs, hammocks and portable barbeque grills despite frosty temperatures.


Emergency personnel received a number of cold-weather exposure calls, police department spokeswoman Lisa Derderian told City News Service.


As of 8 a.m. Tuesday, police had made a total of 22 arrests along the parade route since 6 p.m. Monday, said police Lt. Rick Aversan. All but one arrest were for suspected public intoxication. The other was for suspected possession of burglary tools that could have been used to break into cars, police said.


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“Fiscal cliff” crisis heads to resolution in Congress






WASHINGTON (Reuters) – A months-long battle over the U.S. “fiscal cliff” headed to a close on Tuesday as the House of Representatives moved toward final approval of a bipartisan deal meant to prevent Washington from pushing the world’s biggest economy into recession.


The Republican-controlled House was expected to back a tax hike on the top U.S. earners shortly before midnight on Tuesday, ending weeks of high-stakes budget brinkmanship that threatened to spook consumers and throw financial markets into turmoil.






Approval of the bill would be a victory for President Barack Obama, who campaigned for re-election last November on a promise to raise taxes on the wealthiest but faced stiff opposition from congressional Republicans.


Republicans had earlier considered adding hundreds of billions of dollars in spending cuts after the bill had already passed the Senate with strong bipartisan support. That would have triggered further partisan warfare and pushed the crisis well past a self-imposed January 1 deadline.


But party leaders abandoned the effort after determining they lacked the votes.


“We’ve gone as far as we can go and I think people are ready to bring it to a conclusion,” Republican Representative Jack Kingston of Georgia said. “We fought the fight.”


Rules Committee Chairman David Dreier, a Republican, predicted the House would back the Senate bill, which also postpones for two months $ 109 billion in spending cuts on military and domestic programs set for 2013.


The bill easily cleared a procedural hurdle by a bipartisan vote of 408 to 10.


Lawmakers have struggled to find a way to head off across-the-board tax hikes and spending cuts that began to take effect at midnight, a legacy of earlier failed budget deals that is known as the fiscal cliff.


Strictly speaking, the United States went over the cliff in the first minutes of the New Year because Congress failed to produce legislation to halt $ 600 billion of tax hikes and spending cuts scheduled for this year.


TAX HIKES FOR WEALTHIEST


While many Republicans were uneasy with the tax hikes and wanted more spending cuts in the bill, they seemed to realize that the fiscal cliff would begin to damage the economy once financial markets and federal government offices returned to work on Wednesday. Opinion polls show the public would blame Republicans if a deal were to fall apart.


House Republicans had earlier considered adding $ 330 billion in spending cuts over 10 years to the Senate bill, which raises taxes on the wealthiest U.S. households by $ 620 billion over the same period.


But Senate Democrats refused to consider any changes to their bill, which passed 89 to 8 in a rare display of unity early Tuesday.


That measure, which passed the Senate at around 2 a.m., would raise income taxes on families earning more than $ 450,000 per year and limit the amount of deductions they can take to lower their tax bill.


Low temporary rates that have been in place for the past decade would be made permanent for less-affluent taxpayers, along with a range of targeted tax breaks put in place to fight the 2009 economic downturn.


However, workers would see up to $ 2,000 more taken out of their paychecks annually with the expiration of a temporary payroll tax cut.


The non-partisan Congressional Budget Office said the Senate bill would increase budget deficits by nearly $ 4 trillion over the coming 10 years, compared to the budget savings that would occur if the extreme measures of the cliff were to kick in.


But the bill would actually save $ 650 billion during that time period when measured against the tax and spending policies that were in effect on Monday, according to the Committee for a Responsible Federal Budget, an independent group that has pushed for more aggressive deficit savings.


(Additional reporting by Rachelle Younglai, Thomas Ferraro and David Lawder; Writing by Andy Sullivan; Editing by Alistair Bell and Eric Beech)


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Asian shares up on US fiscal deal







Continue reading the main story






Asian markets have risen after the US House of Representatives passed a deal to stave off the fiscal cliff.


A failure to agree a deal would have triggered spending cuts and tax increases worth $ 600bn (£370bn).


There had been fears that the measures would have derailed economic recovery in the world’s biggest economy and in a worst case push it into a recession.


Hong Kong’s Hang Seng index gained 2.1%, South Korea’s Kospi added 1.7% and Australia’s ASX 200 rose 1.2%


Along with being the world’s largest economy, the US also is a key market for most of Asia’s export-dependent economies.


There were concerns that if the full effects of the fiscal cliff were allowed to take hold, it may have led to a reduction in consumer spending.


That in turn could have hurt demand for Asian exports to the US and impacted growth amongst the region’s leading manufacturers and economies.


Analysts said the approval of the deal had helped allay those fears among investors.


“With the final hurdle being passed now, we’ve got a minimum deal that avoids any immediate threat of the US falling off the cliff,” said Jason Hughes, head of premium client management for IG Markets Singapore.


“That’s definitely boosted Asian equities markets.” he said.


Regional boost


Market sentiment was also boosted by some encouraging regional economic data.


Manufacturing activity in China, the region’s biggest economy and one of the key drivers of global growth in recent years, expanded for the third straight month in December.


China’s official Purchasing Managers’ Index (PMI), a key indicator or activity in the sector, stood at 50.6 in December. A reading above 50 shows expansion.


Meanwhile, a survey of manufacturing activity in South Korea indicated an expansion in the sector for the first time in seven months in December.


Over in Japan, the yen continued to weaken against the US dollar.


The Japanese currency was trading as low as 87.30 yen against the US dollar, the lowest level since July 2010.


Japan’s new Prime Minister, Shinzo Abe, has promised to take measures to weaken the yen to help revive the country’s struggling economy.


The yen has fallen almost 9% against the US dollar since 15 November amid hopes of additional stimulus from the newly elected government.


A weaker yen bodes well for Japanese exporters as it makes their goods more affordable to foreign buyers and also helps boost profits when they repatriate their foreign earnings back home.


BBC News – Business





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