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• Obama says failure to reach fiscal deal would hurt markets
• Merkel's rival Steinbrueck says euro zone austerity too severe
• Senate leaders work to avoid New Year's "fiscal cliff"
• Stung Bankia investors look to courts for justice
• Germany to avoid recession in 2013- employer association head
• Egypt PM sees IMF talks resuming in January
• Ford on track to sell 2.2 million cars in U.S. this year
• Starbucks expands cup campaign aimed at U.S. fiscal deal
• Black boxes examined in fatal Russian plane crash
• Obama wants gun violence measures passed in 2013
• Ag secretary sees common ground on gun control
• German trade group predicts record exports in 2013
• Over the fiscal cliff: Soft or hard landing?
• If cut, fiscal deal will pale against expectations
• Fiscal cliff deal would pale against expectations
• Last-minute fiscal cliff talks in Senate

Obama says failure to reach fiscal deal would hurt markets Posted: 30 Dec 2012 08:05 AM PST WASHINGTON (Reuters) - Financial markets would be affected adversely if U.S. lawmakers fail to agree on a "fiscal cliff" deal before Tuesday, President Barack Obama said in an interview broadcast on Sunday, while urging Congress to act quickly to extend tax cuts for middle-class Americans. Lawmakers are seeking a last-minute deal that would set aside $600 billion in tax increases and across-the-board government spending cuts that are set to start within days. ...

Merkel's rival Steinbrueck says euro zone austerity too severe Posted: 30 Dec 2012 06:56 AM PST BERLIN (Reuters) - Former German Finance Minister Peer Steinbrueck, who is running against Chancellor Angela Merkel in next year's election, said austerity measures being imposed on struggling euro zone countries were too severe. In an interview with the Frankfurter Allgemeine Sonntagszeitung (FAS), Steinbrueck said austerity measures were pushing some countries to do too much too soon. He said there would be massive protests in Germany if such a heavy dose of austerity were to be imposed so quickly. ...

Senate leaders work to avoid New Year's "fiscal cliff" Posted: 29 Dec 2012 04:22 PM PST WASHINGTON (Reuters) - Congressional negotiators burrowed into their offices on Saturday to see if they could stop the U.S. economy from falling off of a "fiscal cliff" in just three days when the biggest tax increases ever to hit Americans in one shot are scheduled to begin. Aides to Senate Majority Leader Harry Reid, a Democrat, and Senate Republican leader Mitch McConnell worked through the day on a possible compromise that would set aside $600 billion in tax increases and across-the-board government spending cuts that are set to kick in next week. ...

Stung Bankia investors look to courts for justice Posted: 30 Dec 2012 02:49 AM PST MADRID (Reuters) - Spanish savers and pensioners who have seen their money wiped out by investing in state-rescued lender Bankia are likely to seek redress in court rather than wait for any official inquiry, which looks increasingly unlikely. About 350,000 stockholders will share the pain of the bank's European bailout, many of them bank clients who were sold the shares through an aggressive marketing campaign for its stock market flotation in 2011. ...

Germany to avoid recession in 2013- employer association head Posted: 30 Dec 2012 02:21 AM PST BERLIN (Reuters) - Germany will avoid recession in 2013 and achieve growth rates similar to 2012, Dieter Hundt, leader of Germany's employer association, said in an interview with Reuters. "I'm expecting that we won't experience recession in Germany next year and the economy will once again grow at similar levels as this year," Hundt said. The German economy has so far managed to fend off the euro zone's troubles, expanding by 4.2 percent in 2010 and 3 percent last year. The country's gross domestic product in 2012 is expected to grow by about 0.9 percent. ...

Egypt PM sees IMF talks resuming in January Posted: 30 Dec 2012 02:12 AM PST CAIRO (Reuters) - Egyptian Prime Minister Hisham Kandil said on Sunday he expected a resumption of talks in January with the International Monetary Fund on a $4.8 billion loan. He was speaking during a news conference to announce a "national economic initiative" which he said aimed to build consensus around the government's economic program. "We hope that there will not be any fundamental changes in our plan with the IMF because we will summon them in January so we resume discussions to go forward in the matter of the loan," Kandil said. (Writing by Tom Perry; Editing by Susan Fenton)

Ford on track to sell 2.2 million cars in U.S. this year Posted: 29 Dec 2012 06:11 PM PST DETROIT (Reuters) - Ford Motor Co is on track to sell 2.2 million cars under its main brand this year, up 7 percent from 2011, the automaker said on Saturday, but the company has acknowledged losing market share as it struggled to keep up with consumer demand. It marks the second straight year the No. 2 U.S. automaker has surpassed the 2 million threshold. The projected sales jump for the Ford brand falls short of the overall industry's gains, which many analysts expect to exceed 13 percent in 2012. ...

Starbucks expands cup campaign aimed at U.S. fiscal deal Posted: 29 Dec 2012 08:43 AM PST (Reuters) - Starbucks Corp is expanding its campaign of using messages written on coffee cups to inspire U.S. lawmakers to reach a deal and avoid going over the "fiscal cliff" of automatic tax hikes and government spending cuts. As President Barack Obama and congressional leaders were in a final effort to reach a budget agreement before year's end, Starbucks this week began urging workers in its roughly 120 Washington, D.C.-area shops to write the words "come together" on customers' cups. A spokesman for the world's largest coffee chain said the company would expand the effort to all U.S. ...

Black boxes examined in fatal Russian plane crash Posted: 30 Dec 2012 05:50 AM PST MOSCOW (AP) — Investigators on Sunday examined flight recorders and other evidence to try to determine the cause of the airliner crash in Moscow that killed five people, an official said.

Obama wants gun violence measures passed in 2013 Posted: 30 Dec 2012 07:58 AM PST WASHINGTON (AP) — Recalling the shooting rampage that killed 20 first graders as the worst day of his presidency, President Barack Obama on Sunday pledged to put his "full weight" behind legislation aimed at preventing gun violence.

Ag secretary sees common ground on gun control Posted: 30 Dec 2012 06:44 AM PST WASHINGTON (AP) — Agriculture Secretary Tom Vilsack says the Newtown school shootings have changed the gun control debate and that rural America is ready to be part of a national conversation that he believes could bring people together.

German trade group predicts record exports in 2013 Posted: 30 Dec 2012 03:35 AM PST BERLIN (AP) — Germany's exports are expected to reach record levels this year and grow again in 2013.

Over the fiscal cliff: Soft or hard landing? Posted: 30 Dec 2012 08:18 AM PST WASHINGTON (AP) — Efforts to save the nation from going over a year-end "fiscal cliff" were still in disarray as lawmakers returned to the Capitol to confront the tax-and-spend crisis. A tone-setting quotation was Democratic Sen. Harry Reid's assertion that the House under Republican Speaker John Boehner had been "operating with a dictatorship."

If cut, fiscal deal will pale against expectations Posted: 30 Dec 2012 08:41 AM PST WASHINGTON (AP) — Whether negotiated in a rush before the new year or left for early January, the fiscal deal President Barack Obama and Congress cobble together will be far smaller than what they initially envisioned as an alternative to purposefully distasteful tax increases and spending cuts.

Fiscal cliff deal would pale against expectations Posted: 30 Dec 2012 01:31 AM PST WASHINGTON (AP) — Whether negotiated in a rush before the new year or left for early January, the fiscal deal President Barack Obama and Congress cobble together will be far smaller than what they initially envisioned as an alternative to purposefully distasteful tax increases and spending cuts.

Last-minute fiscal cliff talks in Senate Posted: 29 Dec 2012 09:51 PM PST WASHINGTON (AP) — Senate leaders groped for a last-minute compromise Saturday to avoid middle-class tax increases and possibly prevent deep spending cuts at the dawn of the new year as President Barack Obama warned that failure could mean a "self-inflicted wound to the economy."

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