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Friday, November 9, 2012

Reuters Money: Obama plans "fiscal cliff" statement as showdown looms

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11/9/2012
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
Obama plans "fiscal cliff" statement as showdown looms
WASHINGTON (Reuters) - President Barack Obama will join the battle over the U.S. "fiscal cliff" on Friday for the first time since voters gave him a second term in office, setting the stage for a showdown with congressional Republicans over sharp tax hikes and spending cuts slated to take effect early next year.
U.S. carbon tax works, with support: Wynn
(The author is a Reuters market analyst. The views expressed are his own.)
Sandy's victims could spend billions out of pocket
WASHINGTON (Reuters) - Leave it to a financial adviser like Christopher Clayton of Egg Harbor Township, New Jersey, to keep a running tab on how much Superstorm Sandy has cost him out of his own pocket -- money that no insurance company or federal emergency agency is going to cover.
Car totaled? No power? Should you pay your bills?
NEW YORK (Reuters) - Superstorm Sandy hit the U.S. Northeast just before the first of the month, when rent and mortgage payments typically come due, not to mention cable, phone and utility bills.
Longtime Madoff employee admits decades of fraud
NEW YORK (Reuters) - One of Bernard Madoff's longest-serving employees pleaded guilty on Thursday to falsifying records, a conspiracy that a prosecutor said began in the 1970s at the start of the multibillion-dollar Ponzi scheme.
Post election, banks may get real: James Saft
(Reuters) - Banking shares are down sharply since the election, but the threat of tough regulation now moving markets might hold a kernel of hope for investors.
Nor'easter complicates insurance for Sandy-struck businesses
(Reuters) - Businesses in New York and New Jersey that were preparing insurance claims for losses from Superstorm Sandy now have a second headache: how to deal with new losses from an early winter snow storm.
Breaking ground on housing for LGBT seniors
CHICAGO (Reuters) - Gay rights took a big stride forward in this week's elections, with voters in four states affirming the right of same-sex couples to marry. But here's an issue in the LGBT community that continues to fly under the radar: what happens to LGBT Americans when they get old?
Tax hike for wealthy won't kill growth: CBO
WASHINGTON (Reuters) - Allowing income tax rates to rise for wealthy Americans, and maintaining rates for the less affluent, would not hurt U.S. economic growth much in 2013, the Congressional Budget Office said on Thursday, stepping into a dispute between Republicans and Democrats over how to resolve the so-called "fiscal cliff."
Wall Street opens lower on euzo zone, fiscal cliff
NEW YORK (Reuters) - Stocks fell at the open on Friday, putting the S&P on track for a third straight decline and its worst weekly retreat in five months, as the euro zone crisis extended its reach and investors fretted over a looming U.S. "fiscal cliff."
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