Reuters Money: Budget deficit rises to $120 billion in October

	Click to View in Browser 11/14/2012 Budget deficit rises to $120 billion in October WASHINGTON (Reuters) - The budget deficit rose in October, the first month of fiscal year 2013, as looming negotiations over expiring tax cuts and imminent spending reductions dominated the post-election political landscape. Indonesia moves closer to tipping point for investors: Clyde Russell --Clyde Russell is a Reuters market analyst. The views expressed are his own.-- Senate Finance chair sees flexibility on Bush tax cuts WASHINGTON (Reuters) - The chief Democratic tax-writer in the U.S. Senate said on Tuesday that to steer clear of the fiscal cliff, the top rates paid by the richest Americans must rise in any deal between Congress and the White House, but he suggested there is some flexibility in ways to strike a deal. Without fix, alternative minimum tax could hit 28 million taxpayers: IRS WASHINGTON (Reuters) - Some 28 million Americans including some in the middle class would face an unintended tax hike if a U.S. tax aimed at ensuring the wealthy pay a minimum isn't fixed before the end of the year, the U.S. tax commissioner said on Tuesday. How to appeal when Medicare won't pay CHICAGO (Reuters) - Medicare processed 906 billion outpatient insurance claims in 2010 - and refused to pay 10 percent of them. But if you're a senior on Medicare with a denied claim, your odds of turning that around are surprisingly good if you appeal. Risk council proposes new money fund rules WASHINGTON (Reuters) - The financial risk council rolled out a framework of new rules for the $2.5 trillion money market fund industry on Tuesday, saying current regulations are not enough to prevent runs in a time of crisis. Shrinking Japan asks for more of the same: James Saft (Reuters) - Japan is shrinking again and its government thinks the answer lies in more of the same policy the Bank of Japan has been unsuccessfully implementing for 17 years. Legg Mason CFO says reviewing business strategy, open to change (Reuters) - Money manager Legg Mason Inc, which has eight main investment subsidiaries, is reviewing its business strategy and is "prepared to modify it as appropriate," Chief Financial Officer Pete Nachtwey said on Tuesday. "Fight Club" of corrupt analysts cited at insider trial NEW YORK (Reuters) - Two former hedge fund managers reaped a total of $70.8 million in illegal profits by tapping a "corrupt network" of Wall Street analysts, a U.S. prosecutor said at the start of an insider trading trial on Tuesday. AllianceBernstein fee income recovering as asset focus changes (Reuters) - Most of the fees U.S. money manager AllianceBernstein L.P. lost from a sharp reduction in large-cap stock assets since the financial crisis have been replaced, top executives at the company said on Tuesday. Related Video Home stocks on shaky foundation Getting to the top of mobile wallets Business News Cisco leads Wall Street higher at open Retail sales sag on autos, wholesale prices subdued The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend