Leaders in Washington say they want to make a "down payment" on deficit reduction and avert the fiscal cliff. But the size of any down payment depends in large part on whether the two sides can agree on taxing the rich.
Holiday spending got off to a strong start this weekend, but could looming tax hikes cause consumers to cut back on shopping? The White House certainly thinks so.
Cyber Monday is off to a strong start, with shoppers flocking to their computers and smartphones to grab online deals. By Monday afternoon, online sales rose nearly 26% from Cyber Monday last year, according to IBM Digital Analytics Benchmark, which tracks more than one million e-commerce transactions per day from more than 500 retailers.
U.S. stocks ended mixed Monday as investors kept one eye on the results of the start of the holiday shopping season, and the other on upcoming economic negotiations in Washington and Europe.
President Obama has designated U.S. Securities and Exchange Commissioner Elisse Walter to replace Mary Schapiro as chair of the agency. Schapiro announced Monday that she will be stepping down from her post on Dec. 14.
A spate of press reports on Monday heralded Google's latest takeover deal: An apparent $400 million purchase of ICOA, a Warwick, R.I., company that makes Wi-Fi hotspots for public areas like parks and airports.
It hasn't been business as usual for Knight Capital since a massive software glitch in August nearly felled the 15-year old trading firm. Knight Capital is now weighing offers for individual business lines and hasn't ruled out a sale of the entire firm.
Apple officially landed the European trademark over the weekend on the Lightning name for its new mobile connector, but local regulatory filings show that Apple had to buy the rights from motorcycle maker Harley-Davidson.
As electric cars try to forge more than a just niche in the market, the auto industry is already looking to another form of clean technology that could overtake today's battery-powered vehicles.
Call it the jatropha bubble. When word got out several years ago about the promise of a small subtropical tree called jatropha, it became a biofuel sensation. Advocates claimed the fruit tree was hearty, drought-resistant and could be grown on marginal land. Its oil seeds offered a promising biofuel that wouldn't compete with food crops.
The U.K. government has appointed Bank of Canada Governor Mark Carney to head the Bank of England, opting for an outsider as the British central bank confronts slowing growth and takes on a bigger supervisory role.
The speed at which the global economy has pivoted from the West to emerging economies like China is astounding, says author Niall Ferguson. "If you think back to 1978 when I was a teenager, the average American was 22 times richer than the average Chinese. And today it's less than five times," said Ferguson, a Harvard history professor and a former adviser to 2008 Republican Party presidential candidate John McCain. "That's an amazing reduction in the global imbalance and it's happen in the space really of 30 years."
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