NEW YORK (Reuters) - Stocks kicked off the new year with their best day in over a year on Wednesday, sparked by relief over a last-minute deal in Washington to avert the "fiscal cliff" of tax hikes and spending cuts that threatened to derail the economy's growth. In 2013's first trading session, the S&P 500 achieved its biggest one-day gain since December 20, 2011, pushing the benchmark...
Pa. governor sues NCAA over Penn State sanctions
Labels: TechnologySTATE COLLEGE, Pa. (AP) — Pennsylvania's governor, in a challenge to the NCAA's powers, claimed in a lawsuit Wednesday that college sports' governing body overstepped its authority and "piled on" when it penalized Penn State over the Jerry Sandusky child molestation scandal.Gov. Tom Corbett asked that a federal judge throw out the sanctions, which include an unprecedented $60 million fine and a four-year...
Wind Energy Tax Credit Survives Fiscal Cliff
Labels: WorldAfter months of wondering whether or not the Production Tax Credit for wind energy would be extended or allowed to expire, word came from the White House this week that the credit was, in fact, extended through this year as part of the fiscal cliff deal. Here are the details.* According to the White House, the Production Tax Credit will be extended through the end of the year via the American Taxpayer...
Look beyond the fiscal cliff
Labels: LifestyleSTORY HIGHLIGHTSDean Baker: Budget deficit is not the only top issue in our national economic policyBaker: Fiscal cliff debate has been a distraction of the bigger problem of a downturn He says fears of big deficits are preventing us from boosting the economy moreBaker: Given the economy's weakness, the government has to run big deficits Editor's note: Dean Baker, an economist, is co-director of the...
Chicago man charged in estranged wife's slaying in Munster
Labels: Health A Chicago man with a history of domestic violence arrests has been charged with the murder of his estranged wife in Munster,...
Jan
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Asia holds breath as U.S. fiscal talks go to wire
Labels: WorldSYDNEY/HONG KONG (Reuters) - Asian stocks started new year trading with tentative gains as investors anxiously wait to see if the U.S. Congress can strike a last-minute compromise and avert the harsh "fiscal cliff" tax rises and spending cuts that are technically already in force. The U.S. Senate early on Tuesday passed a bill that aims to avoid the cliff's automatic implementation of...
Stanford holds off Wisconsin 20-14 in Rose Bowl
Labels: TechnologyPASADENA, Calif. (AP) — Although Stanford didn't score many style points in the 99th Rose Bowl, the Cardinal could celebrate because they didn't let Wisconsin score any points at all after halftime.Stepfan Taylor rushed for 89 yards and an early touchdown, Kevin Hogan passed for 123 yards, and No. 8 Stanford won its first Rose Bowl since 1972, beating the Badgers 20-14 on Tuesday night.Usua Amanam...
Europe Tackling Big Space Projects in 2013
Labels: WorldLONDON — The European Space Agency has some ambitious resolutions for the New Year. The year 2013 will include the agency’s first spaceflight for its newest class of astronauts, the launch of its latest robot cargo ship Albert Einstein, and the development of new rockets and spacecraft, including a reusable space plane and work on NASA’s new Orion spacecraft.January and February should see agreements...
13 key stories to watch for in 2013
Labels: LifestyleAmong 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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