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• Stock market is a wild card in fiscal cliff talks
• APNewsBreak: Sotomayor book offers personal look
• House Dems, GOP embrace cuts in defense spending
• Evidence elusive in Michigan right-to-work debate
• Senate wants suit on filibusters dismissed
• New Atlanta football stadium passes funding test
• Afghan attacks down overall, insider threat rises
• AP source: HSBC to pay $1.9B to settle probe
• U.S., France differ over how to deal with "explosive" Mali
• Hawaii Democrat Daniel Inouye hospitalized
• Illinois governor says pension woes hurting infrastructure program
• Chavez faces cancer surgery in Cuba, vows he'll be back
• BoE's King warns of growing currency competition
• Feds rule on health care law's Medicaid expansion
• Congress, dreading automatic cuts, eyes yet another trigger
• Pentagon reports Taliban attacks up during Afghan fighting season
• Cairo faces rival protests over constitution crisis
• Nexen chief executive says CNOOC deal not yet done
• No one retreating; cliff talks seem at standstill
• New Jersey governor says indicted mayor of state capital should resign
• Kidnappers urged to release Nigerian minister's mother
• Government investigating makers of cellphone apps
• FDA OKs J&J prostate cancer drug for pre-chemo use
• U.S. envoy to Sudan, South Sudan stepping down
• Senate lawyers want filibuster challenge dismissed
• Treasury selling all its remaining AIG common stock
• Police attacked as Northern Ireland flag row inflames loyalists
• Malta calls March election after budget defeat
• Obama says he 'won't compromise' on taxes
• Obama takes his case to people for "fiscal cliff" deal
• Canada to unveil bill to improve rail service Tuesday
• Standard Chartered to pay $327 million in U.S. sanctions case
• EU plans border security help for Libya
• Obama, Mich. Dems make final right-to-work push
• More "fiscal cliff" talks but neither side giving ground
• Obama tax plan no small deal to small businessmen
• Hungarian students block Danube bridges in anti-cuts protest
• Strauss-Kahn, NYC hotel maid settle civil lawsuit over alleged assault

Stock market is a wild card in fiscal cliff talks Posted: 10 Dec 2012 07:13 AM PST Congress and the White House can significantly soften the initial impact of the "fiscal cliff" even if they fail to reach a compromise by Dec. 31. One thing they cannot control, however, is the financial markets' reaction, which possibly could be a panicky sell-off that triggers economic reversals worldwide.

APNewsBreak: Sotomayor book offers personal look Posted: 10 Dec 2012 01:22 PM PST Supreme Court Justice Sonia Sotomayor says in her upcoming memoir that her lifelong battle against diabetes and the fear that she might die early played a big part in her decision not to have children.

House Dems, GOP embrace cuts in defense spending Posted: 10 Dec 2012 02:17 PM PST Substantial reductions in military spending should be part of any budget deal that President Barack Obama negotiates with Congress to avert the so-called "fiscal cliff" of automatic tax hikes and spending cuts, a group of House Republicans and Democrats said Monday.

Evidence elusive in Michigan right-to-work debate Posted: 10 Dec 2012 03:01 PM PST Gov. Rick Snyder says one reason he supports right-to-work legislation in Michigan is the economic boost a similar law has given Indiana, although officials have provided no conclusive evidence that the policy by itself has drawn new businesses to the state next door.

Senate wants suit on filibusters dismissed Posted: 10 Dec 2012 03:00 PM PST The Senate asked a federal judge Monday to dismiss a citizen lobbying group's lawsuit challenging the constitutionality of Senate rules setting a 60-vote threshold for defeating filibusters.

New Atlanta football stadium passes funding test Posted: 10 Dec 2012 02:57 PM PST ATLANTA (Reuters) - A Georgia state agency on Monday approved terms for a new $1 billion stadium for the Atlanta Falcons football team that would replace the Georgia Dome and would be partly financed by $300 million in revenue from a hotel tax. The Georgia World Congress Center Authority signed off on the plan, which will include new bonds backed by revenue from the city's hotel tax of 8 percent, said Jennifer LeMaster, a spokeswoman for the agency. The bonds will likely be issued in about a year, she said. ...

Afghan attacks down overall, insider threat rises Posted: 10 Dec 2012 02:55 PM PST The U.S. and its allies have made only spotty and incremental progress in the Afghan war, with overall violence declining just slightly in the past year and widespread corruption continuing to hamper the shaky government, according to a new Pentagon report.

AP source: HSBC to pay $1.9B to settle probe Posted: 10 Dec 2012 02:55 PM PST HSBC, the British banking giant, will pay $1.9 billion to settle a money-laundering probe by federal and state authorities in the United States, a law enforcement official said Monday.

U.S., France differ over how to deal with "explosive" Mali Posted: 10 Dec 2012 02:53 PM PST UNITED NATIONS (Reuters) - Northern Mali, plagued by Islamist extremists and gripped by an aid disaster, is "one of the potentially most explosive corners of the world," the United Nations warned on Monday, as the United States and France differed over how to tackle the crisis. Almost 350,000 Malians have fled their homes, with about 40 percent of those sheltering in neighboring countries, said the United Nations. ...

Hawaii Democrat Daniel Inouye hospitalized Posted: 10 Dec 2012 02:50 PM PST Sen. Daniel Inouye is under observation at a Washington-area hospital so that doctors can monitor his oxygen intake.

Illinois governor says pension woes hurting infrastructure program Posted: 10 Dec 2012 02:50 PM PST CHICAGO (Reuters) - Illinois' inability to fix its woefully underfunded public pension system could derail plans by the state to continue to issue debt to fund an ongoing infrastructure improvement program, Governor Pat Quinn said on Monday. "You can't do that building and issue those bonds if you have this severe situation overlooking you," the Democrat governor said at a media briefing hosted by Bloomberg News, adding that the state could face more downgrades of its already relatively low credit ratings. ...

Chavez faces cancer surgery in Cuba, vows he'll be back Posted: 10 Dec 2012 02:44 PM PST CARACAS (Reuters) - Venezuelan President Hugo Chavez flew to Cuba on Monday for cancer surgery, with a vow to return quickly despite conceding for the first time that the disease could end his 14-year rule of the South American OPEC nation. "I leave full of hope. We are warriors, full of light and faith," the ever-upbeat Chavez said before boarding the flight to Havana. "I hope to be back soon. ...

BoE's King warns of growing currency competition Posted: 10 Dec 2012 02:40 PM PST NEW YORK (Reuters) - The head of the Bank of England warned on Monday that too many countries were trying to weaken their currencies to offset the impact of the slow global economy and the trend could grow next year. "You can see, month by month, the addition to the number of countries who feel that active exchange rate management, always to push their exchange rate down, is growing," Mervyn King said in a speech. ...

Feds rule on health care law's Medicaid expansion Posted: 10 Dec 2012 02:34 PM PST States must commit to fully expanding their Medicaid programs to take advantage of generous funding in the federal health care law, the Obama administration said Monday.

Congress, dreading automatic cuts, eyes yet another trigger Posted: 10 Dec 2012 02:34 PM PST WASHINGTON (Reuters) - Of the many distasteful elements to the year-end "fiscal cliff" that Washington is desperately trying to avoid, few are more loathed than the automatic, indiscriminate spending cuts scheduled to begin on January 2. Yet a repeat of this agonizing drama could play out next summer. That is because Congress, as part of deal to avert the year-end fiscal cliff of steep tax increases and across-the-board budget cuts, is likely to enact another forcing mechanism, or trigger, to make sure it keeps its latest round of deficit-reduction promises. ...

Pentagon reports Taliban attacks up during Afghan fighting season Posted: 10 Dec 2012 02:34 PM PST WASHINGTON (Reuters) - Attacks by Taliban insurgents rose slightly during the main part of the Afghan fighting season this year as some U.S. forces withdrew and the transition to a lead role for Afghan security forces picked up pace, according to a Pentagon report released on Monday. The report to Congress downplayed the rise in violence, saying the key measure was a dramatic increase in security in the country's main cities. While acknowledging the Taliban can still carry out attacks at the same levels as last year, the report said the greatest threats to stability were elsewhere. ...

Cairo faces rival protests over constitution crisis Posted: 10 Dec 2012 02:32 PM PST CAIRO (Reuters) - Opponents and supporters of Egyptian President Mohamed Mursi's plans to vote on a new constitution will take to the streets in central Cairo later on Tuesday, risking more violent confrontation after last week's deadly clashes. Leftists, liberals and other opposition groups have called for marches to the presidential palace in the afternoon to protest against the hastily arranged referendum planned for Saturday, which they say is polarizing the country. ...

Nexen chief executive says CNOOC deal not yet done Posted: 10 Dec 2012 02:32 PM PST CALGARY, Alberta (Reuters) - The $15.1 billion takeover of Canadian oil and gas producer Nexen Inc by China's state-owned CNOOC Ltd is not yet wrapped up despite the Canadian government's blessing after months of heated debate, Nexen's chief executive said on Monday. "We are nowhere near done," Nexen interim CEO Kevin Reinhart told Reuters as he left a business conference about economic ties between Canada and Asia. He declined to give his reaction to Ottawa's decision on Friday to approve the deal, saying it was too early. ...

No one retreating; cliff talks seem at standstill Posted: 10 Dec 2012 02:30 PM PST A year-end deadline approaching, negotiations to avoid an economy-rattling "fiscal cliff" appeared at a standstill Monday. Republicans pressed President Barack Obama to name specific spending cuts he will support, while the White House insisted the GOP agree explicitly to raise tax rates on upper incomes.

New Jersey governor says indicted mayor of state capital should resign Posted: 10 Dec 2012 02:30 PM PST TRENTON, New Jersey (Reuters) - New Jersey Governor Chris Christie on Monday urged the mayor of the state capital Trenton to resign following his indictment on federal corruption charges. Trenton Mayor Tony Mack's indictment last week, which accuses him of taking bribes in connection with a proposed parking garage on city-owned land, affects his ability to do his job, Christie said at a news conference. "I think that once you're indicted, you should resign," Christie said. ...

Kidnappers urged to release Nigerian minister's mother Posted: 10 Dec 2012 02:21 PM PST OGWASHI-UKU/ABUJA (Reuters) - The family of Nigeria's finance minister made an emotional appeal for kidnappers to free her 82-year-old mother on Monday, saying the elderly woman was in fragile health. Kamene Okonjo, mother of Finance Minister Ngozi Okonjo-Iweala, was abducted from her home on Sunday in Nigeria's oil-producing Delta state where kidnapping is rife. "Around lunch time yesterday, some gunmen came to the compound and forced the gate open and took my mother away. The family is upset and traumatized," the minister's younger brother Onyema Okonjo told Reuters at the house. ...

Government investigating makers of cellphone apps Posted: 10 Dec 2012 02:16 PM PST The government is investigating whether software companies that make cellphone apps violated the privacy rights of children by quietly collecting personal information from mobile devices and sharing it with advertisers and data brokers, the Federal Trade Commission said Monday. Such apps can capture a child's physical location, phone numbers of their friends and more.

FDA OKs J&J prostate cancer drug for pre-chemo use Posted: 10 Dec 2012 02:16 PM PST (Reuters) - U.S. health regulators on Monday expanded the approval of Johnson & Johnson's drug Zytiga for advanced prostate cancer to allow its use prior to treatment with chemotherapy. The widely-expected, expanded Food and Drug Administration approval, which came after the company demonstrated that Zytiga could extend survival if used prior to chemotherapy, is likely to significantly boost sales of the new medicine. Wells Fargo Securities analyst Larry Biegelsen, in a research note earlier this year, forecast peak Zytiga sales of $2. ...

U.S. envoy to Sudan, South Sudan stepping down Posted: 10 Dec 2012 02:10 PM PST WASHINGTON (Reuters) - Veteran U.S/ diplomat Princeton Lyman is stepping down as President Barack Obama's special envoy for Sudan and South Sudan, the White House said on Monday. Lyman's departure comes after a nearly two-year stint as Obama's troubleshooter for the region, a tenure that saw South Sudan secede last year under a U.S.-backed peace deal that ended decades of civil war. But unresolved disputes between the two countries, including renewed border hostilities, have impeded normalization of ties. ...

Senate lawyers want filibuster challenge dismissed Posted: 10 Dec 2012 02:09 PM PST Lawyers for the Senate are asking a federal judge to dismiss a suit by a citizens lobbying group challenging the Senate's 60-vote threshold for overcoming filibusters.

Treasury selling all its remaining AIG common stock Posted: 10 Dec 2012 02:09 PM PST WASHINGTON (Reuters) - The U.S. Treasury is selling its remaining stake in insurer American International Group Inc , bringing an end to government ownership of the company four years after it was rescued from the brink of bankruptcy. In a statement on Monday, the Treasury said it launched an underwritten public offering for its remaining 234.2 million shares of common stock. At Monday's closing prices the stake would be worth some $7.81 billion. Treasury said that the sale would be jointly led by Bank of America Merrill Lynch, Citigroup, Deutsche Bank, Goldman Sachs and JPMorgan. ...

Police attacked as Northern Ireland flag row inflames loyalists Posted: 10 Dec 2012 02:06 PM PST Belfast (Reuters) - Police were attacked in Belfast on Monday night by loyalists enraged by a decision to remove the British flag from Belfast City Hall, which has sparked eight consecutive days of demonstrations. About 15 masked men broke out of a mob, smashed the windows of a police car and threw a petrol bomb into it while an officer was still inside, police said. The officer escaped unharmed but the Police Service of Northern Ireland (PSNI) said they were treating the attack as attempted murder. ...

Malta calls March election after budget defeat Posted: 10 Dec 2012 02:05 PM PST VALLETTA (Reuters)- - Malta called an early election on Monday after its centre-right government failed to get its 2013 budget through parliament by one vote. Prime Minister Lawrence Gonzi told journalists the Maltese parliament would be dissolved on January 7 and a new election held on March 9. The budget was defeated after Franco Debono, a member of the ruling Nationalist Party, voted against it, robbing the government of its one-seat majority. ...

Obama says he 'won't compromise' on taxes Posted: 10 Dec 2012 02:01 PM PST President Barack Obama warned Monday that he "won't compromise" on his demands that the wealthiest Americans pay higher tax rates, digging in on the chief sticking point between the White House and Republicans as they seek a way to avert the "fiscal cliff."

Obama takes his case to people for "fiscal cliff" deal Posted: 10 Dec 2012 01:57 PM PST REDFORD, Michigan (Reuters) - Making no visible headway in direct talks with Republicans, President Barack Obama took to the road on Monday to apply pressure on his political opponents to agree to a "fiscal cliff" deal that would raise taxes on the richest Americans. Wearing shirtsleeves with no suit coat and speaking in front of an array of auto workers, Obama plunged into his new campaign a month after winning re-election on a vow to raise taxes on the wealthiest and take care of the middle class. ...

Canada to unveil bill to improve rail service Tuesday Posted: 10 Dec 2012 01:55 PM PST (Reuters) - The Canadian government will unveil long-awaited legislation on rail freight service on Tuesday in Winnipeg, Manitoba, the heart of the country's grain sector. The legislation, as an amendment to Canada's Transportation Act, has pitted shippers like grain handlers, miners and movers of commercial goods, against railways Canadian National Railway Co and Canadian Pacific Railway Ltd. ...

Standard Chartered to pay $327 million in U.S. sanctions case Posted: 10 Dec 2012 01:46 PM PST WASHINGTON (Reuters) - Standard Chartered Plc agreed to pay $327 million to resolve allegations that it violated U.S. sanctions against Iran, Sudan and two other countries, capping months of legal headaches for the British bank. The U.S. Justice Department and the New York District Attorney's office said on Monday the bank moved millions of dollars through the U.S. banking system on behalf of customers in the four sanctioned countries. The fine came on top of a separate payment of $340 million made in August by Standard Chartered to New York's state banking regulator over Iranian sanctions. ...

EU plans border security help for Libya Posted: 10 Dec 2012 01:40 PM PST BRUSSELS (Reuters) - The European Union could send trainers to Libya in the coming months to help the new government secure borders against weapons smuggling, under a proposal discussed on Monday. At a meeting in Brussels, EU foreign ministers considered plans for a mission to try to stop the trafficking of arms, which have flowed out of Libya since the overthrow of Muammar Gaddafi last year, reached al Qaeda militants and fanned a separatist rebellion in northern Mali. European governments are also worried about illegal migration. ...

Obama, Mich. Dems make final right-to-work push Posted: 10 Dec 2012 01:34 PM PST Democrats pushed Monday to stall the right-to-work proposals sailing through the Michigan Legislature, and President Barack Obama used an appearance at a suburban Detroit engine plant to blast the GOP-led efforts to limit union powers.

More "fiscal cliff" talks but neither side giving ground Posted: 10 Dec 2012 01:28 PM PST WASHINGTON (Reuters) - The White House and House of Representatives Speaker John Boehner's office held more negotiations on Monday on ways to break the "fiscal cliff" stalemate, although neither side showed any public signs that they were ready to give ground. The talks gained urgency after Republican Boehner met at the White House with President Barack Obama on Sunday, raising hopes of progress in averting the onset of tax increases and spending cuts that kicks in on January 1 unless Congress intervenes. ...

Obama tax plan no small deal to small businessmen Posted: 10 Dec 2012 01:28 PM PST President Barack Obama's plan to increase taxes on top earners would have only a small impact on the nation's economy, according to congressional budget experts. But don't tell that to small business owners facing a tax hike.

Hungarian students block Danube bridges in anti-cuts protest Posted: 10 Dec 2012 01:26 PM PST BUDAPEST (Reuters) - More than 1,000 students rallied in Budapest on Monday against the Hungarian government's planned cuts in subsidies to finance college tuition, blocking bridges over the Danube in freezing weather. They briefly occupied one bridge and then marched to parliament after a meeting, carrying torches and shouting "The University is Ours" and "Free University". They demanded the resignation of education secretary Rozsa Hoffmann and, escorted by police, later blocked another central bridge for hours. The march remained peaceful. ...

Strauss-Kahn, NYC hotel maid settle civil lawsuit over alleged assault Posted: 10 Dec 2012 01:20 PM PST NEW YORK (Reuters) - Dominique Strauss-Kahn and a New York hotel maid who accused the former International Monetary Fund chief of sexually assaulting her agreed on Monday to settle her civil lawsuit against him for an undisclosed sum, ending one chapter of a scandal that cost him his job and derailed his political career in France. At a brief hearing in New York State Supreme Court in the Bronx, Justice Douglas McKeon said the terms of deal, which includes settlement of a countersuit filed by Strauss-Kahn, would remain confidential. ...

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