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Eric Cantor opens door to tax hikes

WASHINGTON (Reuters) – A top Republican said on Wednesday his party could compromise on taxes as part of a broad budget deal as President Barack Obama warned the United States could spiral back into recession if Congress does not act soon. Ahead of a Thursday meeting with Obama, House of…

Senate abandons authorization of Libya conflict

WASHINGTON — The polarized US Senate hastily abandoned plans to vote Tuesday on a symbolic resolution authorizing the US role in Libya after a Republican insurrection to demand action on the country’s debt woes. “We’ve agreed, notwithstanding the broad support for the Libyan resolution, the most important thing for us…

Google disables realtime search after Twitter deal expires

WASHINGTON — Google has temporarily disabled its Realtime Search feature following the expiration of a deal with Twitter. “Since October of 2009, we have had an agreement with Twitter to include their updates in our search results through a special feed, and that agreement expired on July 2,” a Google…

For Washington, debt deal not far out of reach

WASHINGTON (Reuters) – You would never know it from all the hot air rising out of Washington, but President Barack Obama and congressional Republicans could easily reach a deal to raise the debt limit and avoid an early August default. Before talks hit a brick wall last weekend, negotiators were tantalizingly close to a $2…

Geithner might resign after debt deal

WASHINGTON — US Treasury Secretary Timothy Geithner might leave his job after the White House reaches a deal with Congress over raising the US debt ceiling, Bloomberg reported Thursday. Geithner, one of the stalwarts of President Barack Obama’s administration and a key architect of its policies during the economic crisis,…

Murdoch’s News Corp. moves closer to takeover of Sky TV

Rupert Murdoch’s sprawling media conglomerate News Corp. moved closer to full control of British pay-TV broadcaster BSkyB on Thursday after the government accepted plans to spin off Sky News. US giant News Corp. undertook in March to hive off the rolling news channel to address competition concerns over its bid to buy the 61-percent…

Congress begins action on Bush-era trade deals

WASHINGTON (Reuters) – President Barack Obama’s controversial plan to win approval of free trade deals with South Korea, Colombia and Panama faces its first test on Thursday as the Senate Finance Committee takes up the bills. Republicans typically supply most of the votes for free trade agreements, but at least…

Obama’s call for stimulus, tax hikes may complicate deficit talks

WASHINGTON (Reuters) – President Barack Obama called on Wednesday for new steps to spur job growth and tax hikes on the rich, hardening a stance that will likely complicate deficit reduction talks with Republicans. Obama’s call came as the International Monetary Fund and the Treasury Department urged Washington to reach a budget deal that…

Obama looks to raise $600 billion by cutting corporate subsidies, raising taxes

By Zeke Miller The White House announced today that it is seeking to raise $600 billion in revenue through new taxes and the elimination of corporate subsidies as part of a deal to lower the deficit and raise the debt ceiling. President Barack Obama is trying to ensure that any…

Deal to end war in Libya may be imminent

Abdul Hafiz Ghoga, vice chairman of Libya's National Transitional Council says that intermediaries have informed him that Muamar al Gaddafi is ready to make a deal to end the current conflict.…

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