Yahoo! News: Politics News

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• THE RESET: Debt limit looms as next fiscal cliff
• As 'fiscal cliff' looms, voter angst is palpable
• Cayman Islands leader arrested in corruption probe
• Obama, Boehner speak after exchange of "fiscal cliff" offers
• Egyptian army to host unity talks as crisis deepens
• AG Holder: Protect voting rights provision
• Three British men arrested in UK Libor probe
• US attorney general says voter registration should be automatic
• Appeals court strikes down Illinois ban on handguns in public
• US military deaths in Afghanistan at 2,035
• Michigan Governor Rick Snyder signs laws restricting unions
• White House, Boehner exchange new proposals on "fiscal cliff"
• "Enemy combatant" Padilla files human rights action against U.S. government
• Cash-poor Detroit to get some money, review from state
• Carney carries Canadian lessons to the Bank of England
• First Lady Collects Toys for Tots With Marines
• Michigan votes to restrict union rights
• Republicans, White House exchange fresh fiscal cliff offers
• White House Asks GOP: Where Are Your Specifics?
• Is South Korea ready for "Madam President"?
• NKorea launch likely delayed 10 days: US institute
• Toothy prehistoric lizard named Obamadon after smiling president
• Fiscal cliff: Private bargaining, public wrangling
• Obama administration defends policy on Congo
• Schools in 11 states win nearly $400M in grants
• Brazil's Lula knew about vote buying scheme: newspaper
• U.S. Senate will debate extending crisis-era deposit insurance
• U.S. Treasury exits AIG as markets await rebound
• Most contractors opt out of Air Force chopper bids
• Analysis: Japan election points to return of "construction state"
• Syrian Alawite village attacked, rebels fight around capital
• NKorea launch likely delayed 10 days: institute
• Up to 200 hurt in attack on Syrian Alawite village: activists
• Venezuela's Chavez undergoes cancer surgery in Cuba
• Libyan wartime leader questioned over killing
• Secret Space Plane Back in Orbit
• SEC charges consultant with fraud in Chinese reverse mergers
• US defends $1.9B deal with British banking giant
• Weak exports, imports signal tepid economic growth

THE RESET: Debt limit looms as next fiscal cliff Posted: 11 Dec 2012 11:46 AM PST We now know what's on the other side of that menacing year-end "fiscal cliff." Another cliff.

As 'fiscal cliff' looms, voter angst is palpable Posted: 11 Dec 2012 11:44 AM PST Five hundred miles from Washington, the lunch crowd at Robie's Country Store and Deli is filled with angst over America's elected leaders and their latest struggle to prevent a fiscal crisis.

Cayman Islands leader arrested in corruption probe Posted: 11 Dec 2012 03:18 PM PST GEORGE TOWN, Cayman Islands (Reuters) - The leader of the Cayman Islands was arrested on Tuesday on suspicion of corruption in connection with a graft investigation in the Caribbean offshore financial center, authorities said. Premier McKeeva Bush was detained at his home by members of the Financial Crime Unit of the Royal Cayman Islands Police Service, a police statement said. The 57-year-old premier is suspected of theft, alleged misuse of a government credit card and abuse of office over the alleged importation of explosive substances without valid permits, it said. ...

Obama, Boehner speak after exchange of "fiscal cliff" offers Posted: 11 Dec 2012 03:12 PM PST WASHINGTON (Reuters) - President Barack Obama and U.S. House of Representatives Speaker John Boehner spoke by phone late on Tuesday after the two sides exchanged new proposals in "fiscal cliff" negotiations, an administration official said. The White House sent the Republican leader's office a revised offer on Monday and received a new counter-offer on Tuesday, said the official, who declined to provide further details. The phone conversation was the first contact between the two men since they met at the White House on Sunday. (Reporting By Matt Spetalnick)

Egyptian army to host unity talks as crisis deepens Posted: 11 Dec 2012 03:09 PM PST CAIRO (Reuters) - Egypt's army chief will host national unity talks on Wednesday, seeking to end a growing political and economic crisis in the Arab world's most populous nation. The meeting scheduled for 1430 GMT was called in response to a wave of protests since President Mohamed Mursi awarded himself sweeping powers on November 22 to push through a new constitution shaped by his Islamist allies, which is due to go to a referendum on Saturday. "We will not speak about politics nor about the referendum. ...

AG Holder: Protect voting rights provision Posted: 11 Dec 2012 03:04 PM PST Attorney General Eric Holder says that preserving a Voting Rights Act provision facing a Supreme Court challenge is essential to defending the rights of millions of Americans.

Three British men arrested in UK Libor probe Posted: 11 Dec 2012 03:00 PM PST LONDON/ZURICH (Reuters) - British police and anti-fraud officers made the first arrests in a global interest rate rigging scandal on Tuesday, detaining a former trader and two other men, sources said. Britain's Serious Fraud Office (SFO), one of a posse of international prosecutors and regulators homing in on rate fixers, said three British men aged 33, 41 and 47 had been taken to a London police station in the early morning for questioning. "The men are all British nationals currently living in the United Kingdom," the SFO said. ...

US attorney general says voter registration should be automatic Posted: 11 Dec 2012 03:00 PM PST BOSTON (Reuters) - Attorney General Eric Holder said on Tuesday that U.S. election officials should register eligible voters automatically and take steps to reduce the long lines Americans confronted in national elections on November 6. In a speech in Boston, Holder became the highest-ranking official to call for voting changes since President Barack Obama expressed exasperation with the hours-long queues during his re-election victory speech. ...

Appeals court strikes down Illinois ban on handguns in public Posted: 11 Dec 2012 02:59 PM PST CHICAGO (Reuters) - A federal appeals court on Tuesday struck down an Illinois law banning most people in the state from carrying handguns in public, calling the restriction "arbitrary" and "unconstitutional." But the court stayed its ruling for 180 days to give Illinois lawmakers the opportunity to amend the measure and create a less sweeping ban on guns outside the home. ...

US military deaths in Afghanistan at 2,035 Posted: 11 Dec 2012 02:58 PM PST As of Tuesday, Dec. 11, 2012, at least 2,035 members of the U.S. military had died in Afghanistan as a result of the U.S.-led invasion of Afghanistan in late 2001, according to an Associated Press count.

Michigan Governor Rick Snyder signs laws restricting unions Posted: 11 Dec 2012 02:56 PM PST LANSING, Michigan (Reuters) - Michigan's Republican Governor Rick Snyder on Wednesday signed into law a pair of measures banning mandatory membership of labor unions in a state that is home to the auto industry and birthplace of the United Auto Workers union. His signature makes Michigan the nation's 24th "right-to-work" state and only the second in the industrial Midwest. "I have signed these bills into law," Snyder said at a press conference. ...

White House, Boehner exchange new proposals on "fiscal cliff" Posted: 11 Dec 2012 02:55 PM PST WASHINGTON (Reuters) - The White House and House of Representatives Speaker John Boehner have exchanged new proposals in "fiscal cliff" talks, congressional aides said on Tuesday, in a possible sign of progress ahead of the end-of-year deadline. The exchange of at least some new details over the last two days came as private talks quickened in the effort to avert the automatic steep tax hikes and spending cuts set for January 1 unless Congress intervenes. Economists have warned the fragile economy could slip back into recession without a deal. ...

"Enemy combatant" Padilla files human rights action against U.S. government Posted: 11 Dec 2012 02:55 PM PST NEW YORK (Reuters) - The mother of a U.S. citizen who was detained as an "enemy combatant" from 2002 to 2006 and says he was tortured, filed a petition against the United States government on Tuesday with the Inter-American Commission on Human Rights. Jose Padilla - a former Chicago gang member and a Muslim convert who became an al Qaeda recruit and was convicted on terrorism charges - has maintained his designation as an enemy combatant, his military detention and his treatment in custody were unconstitutional. ...

Cash-poor Detroit to get some money, review from state Posted: 11 Dec 2012 02:53 PM PST DETROIT (Reuters) - Michigan will release $10 million in funds to Detroit after its city council took action on Tuesday on key measures tied to financial reforms. But the state also launched a review that could result in an emergency manager for the cash-strapped city, a spokesman for Michigan's Treasury Department said. Terry Stanton, the spokesman, said the council's action met conditions agreed to by the state and Mayor Dave Bing for the release of $10 million raised through a bond sale earlier this year. ...

Carney carries Canadian lessons to the Bank of England Posted: 11 Dec 2012 02:53 PM PST TORONTO (Reuters) - The Bank of Canada's Mark Carney mused about priorities in reply to a question about the lessons he would take to his next job in London, but said he would only discuss Britain's needs when he talks to a House of Commons committee next year. Asked about lessons he would take to his next position, as the head of the Bank of England, Carney stressed the importance of speedy, transparent action to address potential flashpoints. ...

First Lady Collects Toys for Tots With Marines Posted: 11 Dec 2012 02:53 PM PST WASHINGTON, D.C. — First lady Michelle Obama volunteered with the Marine Corps' Toys for Tots campaign today, continuing a tradition she's made with the organization each year since entering the White House. Toys for Tots is a volunteer organization that collects gifts for needy children....

Michigan votes to restrict union rights Posted: 11 Dec 2012 02:53 PM PST LANSING, Michigan (Reuters) - Michigan's Republican-led Legislature approved a ban on mandatory union membership on Tuesday, dealing a stunning blow to organized labor in the state that is home to U.S. automakers and the symbol of industrial labor in the United States. As more than 12,000 unionized workers and supporters protested at the Capitol in Lansing, the state House of Representatives gave final approval to a pair of "right-to-work" bills covering public- and private-sector unions. ...

Republicans, White House exchange fresh fiscal cliff offers Posted: 11 Dec 2012 02:48 PM PST WASHINGTON (Reuters) - Congressional Republicans sent the White House a new fiscal cliff counter offer in response to an administration proposal a day earlier, congressional aides said on Tuesday. "We sent the White House a counter-offer that would achieve tax and entitlement reform to solve our looming debt crisis and create more American jobs," said Michael Steel, a spokesman for House of Representatives Speaker John Boehner. "We're still waiting for the White House to identify what spending cuts the president is willing to make," Steel added. ...

White House Asks GOP: Where Are Your Specifics? Posted: 11 Dec 2012 02:48 PM PST The White House today pushed back against House Speaker John Boehner's demand that President Obama outline spending cuts, insisting that he has offered specific cuts he's willing to make to avoid going over the "fiscal cliff" and urging Republicans to do the same. "There is...

Is South Korea ready for "Madam President"? Posted: 11 Dec 2012 02:46 PM PST SEOUL (Reuters) - If Park Geun-hye wins South Korea's presidential election this month, as looks increasingly likely, she will become the first woman to hold the country's top office, challenging stereotypes in a nation that is largely run by men in blue suits. A conservative who has 15 years experience as a top legislator and who has been dubbed "The Queen of Elections" for turning around the fortunes of her political party in a series of polls, Park says she took to politics to help save her country from the devastating Asian financial crisis of 1997-98. ...

NKorea launch likely delayed 10 days: US institute Posted: 11 Dec 2012 02:44 PM PST North Korea's planned launch of a long-range rocket could be delayed for 10 days or more after it reported technical delays, a U.S. academic institute said Tuesday.

Toothy prehistoric lizard named Obamadon after smiling president Posted: 11 Dec 2012 02:43 PM PST (Reuters) - Researchers have named a newly discovered, prehistoric lizard "Obamadon gracilis" in honor of the 44th president's toothy grin. The small, insect-eating lizard was first discovered in eastern Montana in 1974, but a recent re-examination showed the fossil had been wrongly classified as a Leptochamops denticulatus and was in fact a new species, researchers told Reuters on Tuesday. Obamadon gracilis was one of nine newly discovered species reported on Monday in the Proceedings of the National Academy of Sciences. ...

Fiscal cliff: Private bargaining, public wrangling Posted: 11 Dec 2012 02:35 PM PST In a test of divided government, the White House and congressional Republicans bargained in secret and sparred in public Tuesday over a deal to prevent year-end tax increases for middle class millions and spending cuts to the military as well as other federal programs.

Obama administration defends policy on Congo Posted: 11 Dec 2012 02:30 PM PST The Obama administration is defending its policy in dealing with the crisis in the Congo, rejecting criticism from Congress and human rights groups.

Schools in 11 states win nearly $400M in grants Posted: 11 Dec 2012 02:19 PM PST Schools from 55 districts in 11 states plus the District of Columbia have won nearly $400 million in federal grants to promote school reform.

Brazil's Lula knew about vote buying scheme: newspaper Posted: 11 Dec 2012 02:19 PM PST RIO DE JANEIRO (Reuters) - Former Brazilian President Luiz Inacio Lula da Silva knew about and used funds from a far-reaching vote-buying scheme to pay for personal expenses, according to testimony by a convicted former consultant to the ruling Workers' Party. The testimony, reported on Tuesday by the Estado de S.Paulo newspaper, was given in September to the Brazilian attorney general's office by Marcos Valerio, an advertising executive recently convicted as a bagman in the scheme. ...

U.S. Senate will debate extending crisis-era deposit insurance Posted: 11 Dec 2012 02:15 PM PST WASHINGTON (Reuters) - The U.S. Senate voted on Tuesday to begin debating a bill that would keep a financial crisis-era deposit insurance program in place for two more years, but it will likely face strong opposition from the Republican-controlled House of Representatives. The Transaction Account Guarantee (TAG) program insures bank deposits above $250,000, the amount the Federal Deposit Insurance Corp normally covers, in checking accounts that do not collect interest. It is due to expire at the end of the year. Bank lobbyists have said that letting the program end could lead U.S. ...

U.S. Treasury exits AIG as markets await rebound Posted: 11 Dec 2012 02:09 PM PST (Reuters) - The U.S. Treasury's sale of its remaining stake in American International Group Inc will leave taxpayers with a profit of nearly $23 billion - more than the next three most successful bailouts combined. The government's profit on the deal is a turnabout from what was one of the most reviled bailouts of the financial crisis. The 2008 rescue later spurred a senator to suggest top executives at the insurer consider suicide. The Government Accountability Office at one point suggested there was a real chance taxpayers would never be repaid in full. Yet they were, with $22. ...

Most contractors opt out of Air Force chopper bids Posted: 11 Dec 2012 02:09 PM PST WASHINGTON (Reuters) - Five big defense contractors on Tuesday withdrew from the U.S. Air Force's latest attempt to replace its aging fleet of HH-60 Pave Hawk rescue helicopters, leaving just Sikorsky Aircraft in line for a deal whose valued is capped at $6.84 billion. Northrop Grumman Corp, which was teamed with Italy's Finmeccanica SpA; Boeing Co; Textron's Bell Helicopter unit; and the U.S. unit of Europe's EADS all said they would not compete to build 112 new helicopters for the Air Force, raising questions about whether the contest can proceed as planned. ...

Analysis: Japan election points to return of "construction state" Posted: 11 Dec 2012 02:08 PM PST NAGANOHARA, Japan (Reuters) - A big winner from Japan's December 16 national elections may be the country's construction industry and towns such as Naganohara, where a sprawling dam development sits unfinished after more than four decades. Polls show the election is likely to return to power the long-dominant Liberal Democratic Party (LDP), which has promised to boost public works and talks of spending 200 trillion yen ($2.4 trillion) on projects over the next decade -- about 40 percent of Japan's economic output. Many economists are troubled by the plan. ...

Syrian Alawite village attacked, rebels fight around capital Posted: 11 Dec 2012 02:06 PM PST BEIRUT (Reuters) - Up to 200 members of President Bashar al-Assad's Alawite minority were injured or killed in an attack on their central Syrian village on Tuesday, activists said, while to the south rebels and state forces battled for the outskirts of Damascus. With a broad grouping of governments opposed to Assad meeting in Morocco on Wednesday, an official in the Syrian Muslim Brotherhood criticized the United States for designating an Islamist rebel group as a terrorist organization, meaning it would get no American help in the fight against Assad. ...

NKorea launch likely delayed 10 days: institute Posted: 11 Dec 2012 02:05 PM PST A U.S. academic institute says it could be at least 10 days before North Korea is ready to launch a long-range rocket after reporting technical delays.

Up to 200 hurt in attack on Syrian Alawite village: activists Posted: 11 Dec 2012 01:55 PM PST BEIRUT (Reuters) - An attack on a Syrian village on Tuesday killed or injured as many as 200 members of President Bashar al-Assad's Alawite minority sect, activists said, but it was unclear who was behind the assault. Casualty counts varied, but several activists said they could confirm 10 dead. The opposition-linked Syrian Observatory for Human Rights said 125 were hurt or killed in a series of explosions that destroyed several houses in the town of Aqrab. There were no reports on Syria's state media. The circumstances of the attacks were unclear and impossible to verify independently. ...

Venezuela's Chavez undergoes cancer surgery in Cuba Posted: 11 Dec 2012 01:52 PM PST CARACAS (Reuters) - Venezuela's Hugo Chavez underwent surgery in Cuba on Tuesday for a cancer recurrence that has thrown his presidency into jeopardy and upended politics in the South American OPEC nation. "My dear friend and colleague, Comandante Hugo Chavez, is going through the toughest times of his life," said Ecuadorean President Rafael Correa, a fellow leftist. "He is being operated on right now. It's a very delicate operation." The 58-year-old's surgery in political ally Cuba was his fourth since mid-2011. ...

Libyan wartime leader questioned over killing Posted: 11 Dec 2012 01:46 PM PST BENGHAZI, Libya (Reuters) - Libyan military prosecutors told the country's wartime rebel leader not to leave the country on Tuesday after questioning him over the killing of a top field commander during last year's conflict, a military prosecution official said. Mustafa Abdel Jalil led the National Transitional Council (NTC) formed after a revolt against Muammar Gaddafi's four-decade rule broke out in the eastern city of Benghazi. Colonel Abdel Fattah Younes was Gaddafi's interior minister before he defected and joined the rebellion. Gunmen killed Younes in Benghazi in July 2011. ...

Secret Space Plane Back in Orbit Posted: 11 Dec 2012 01:44 PM PST The X-37B, the Air Force's unmanned "mini-space shuttle," has launched into orbit for a third time  and once again what it actually does in space remains a big mystery. One of the few things known about the space plane's classified  missions is that it can...

SEC charges consultant with fraud in Chinese reverse mergers Posted: 11 Dec 2012 01:41 PM PST WASHINGTON (Reuters) - Securities regulators charged a New Jersey-based consultant on Tuesday with defrauding investors in the China-based companies he helped make public through a backdoor method known as a "reverse merger." The Securities and Exchange Commission charges against Huakang "David" Zhou and his firm, Warner Technology and Investment Corporation, is the latest action by the SEC as cracks down following a rash of accounting scandals at U.S.-listed Chinese companies. ...

US defends $1.9B deal with British banking giant Posted: 11 Dec 2012 01:33 PM PST American authorities on Tuesday cited "astonishing" dysfunction at the British bank HSBC and said that it had helped Mexican drug traffickers, Iran, Libya and others under U.S. suspicion or sanction to move money around the world.

Weak exports, imports signal tepid economic growth Posted: 11 Dec 2012 01:28 PM PST WASHINGTON (Reuters) - The U.S. trade deficit widened in October as exports suffered the biggest drop in nearly four years, indicating slowing global demand was spilling over into the already struggling U.S. economy. The Commerce Department said on Tuesday the trade gap increased 4.9 percent to $42.2 billion. In a sign of weak domestic demand, imports hit the lowest level in 1-1/2 years. "The report tells a tale of weakening economic growth momentum both domestically and globally," said Millan Mulraine, a senior economist at TD Securities in New York. ...

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