Wall St clings to hopes for budget deal, but market risks rising

NEW YORK (Reuters) - If the United States sails over the fiscal cliff in less than two weeks, it probably will not mean disaster for the stock market, investors said on Friday, but the margin for error is getting dangerously thin. At heart are fears over how long the U.S. economy, the world's largest, can hold up under the brunt of higher taxes and big spending cuts that would be triggered by the...

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Signs suggest better economy if 'cliff' is averted

WASHINGTON (AP) — Fresh signs of a strengthening U.S. economy on Friday suggested that if Congress and the White House can avert the "fiscal cliff," the economic recovery might finally accelerate in 2013. Consumers spent and earned more in November. And for a second straight month, U.S. companies increased their orders for a category of manufactured goods that reflects investment plans. In light of...

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Scenarios: Seven ways the US 'fiscal cliff' crisis could end

WASHINGTON (Reuters) - So what now? The U.S. House of Representatives' rejection of a bill to raise taxes on just 0.18 percent of Americans - those making more than $1 million a year - has raised questions about the Republican-led chamber's ability to approve any plan to avert the looming "fiscal cliff." Unless President Barack Obama and the U.S. Congress can forge a deal during the Christmas and...

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Wall Street Week Ahead: A lump of coal for "Fiscal Cliff-mas"

NEW YORK (Reuters) - Wall Street traders are going to have to pack their tablets and work computers in their holiday luggage after all. A traditionally quiet week could become hellish for traders as politicians in Washington are likely to fall short of an agreement to deal with $600 billion in tax hikes and spending cuts due to kick in early next year. Many economists forecast that this "fiscal cliff"...

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U.S. judge approves settlement in BP class action suit

(Reuters) - A U.S. judge on Friday gave final approval to BP Plc's settlement with individuals and businesses who lost money and property in the 2010 Gulf of Mexico oil spill. The order only addressed the settlement of economic and property damage claims, not a separate medical benefits settlement for cleanup workers and others who say the spill made them sick. BP has estimated that it will pay $7.8...

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Canadian Football Hall of Famer Eagle Keys dies at 89; won three Grey Cups

VANCOUVER - Canadian Football Hall of Fame inductee Eagle Keys has died at the age of 89.Keys played centre and linebacker for five years with the Montreal Alouettes (1949-51) and with the Edmonton Eskimos (1952-54), being named to three CFL all-star teams.He became a coach after retiring as a player, starting as an assistant in Edmonton in 1955. He became the Eskimos' head coach in 1959, a job he...

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Vikings still wowed by Peterson's rapid recovery

EDEN PRAIRIE, Minn. (AP) — Most days, Adrian Peterson went through rehab drills looking as if he were never injured.No one could've foreseen the rapid recovery Peterson has made since that bionic left knee of his was severely damaged near the end of a lost 2011 season for Minnesota. No one could have predicted these weekly gallops down the field and through the NFL record book.With two games to go,...

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YEARENDER-NFL-New generation of QBs emerge but league faces threats

MIAMI, Dec 21 (Reuters) - A new generation of talented quarterbacks emerged in 2012 but a refereeing fiasco, worries over concussions and player behavior all left their mark on the National Football League (NFL).The year was also a tantalizing tale of the Mannings with New York Giants quarterback Eli Manning winning his second Super Bowl title in four years with a win over New England in the same...

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New generation of QBs emerge but league faces threats

MIAMI (Reuters) - A new generation of talented quarterbacks emerged in 2012 but a refereeing fiasco, worries over concussions and player behavior all left their mark on the National Football League (NFL).The year was also a tantalizing tale of the Mannings with New York Giants quarterback Eli Manning winning his second Super Bowl title in four years with a win over New England in the same stadium...

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BYU LB Van Noy scores 2 TDs in Poinsettia Bowl win

SAN DIEGO (AP) — Linebacker Kyle Van Noy forced a fumble in the end zone and recovered it for a touchdown, and scored on a 17-yard interception return, both in the fourth quarter, to lead BYU to a 23-6 victory over San Diego State in the Poinsettia Bowl on Thursday night.The big plays swung the momentum for the Cougars (8-5) in what had been a tedious defensive struggle. San Diego State (9-4), playing...

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Fiscal cliff efforts ongoing, Boehner offers plan

WASHINGTON (AP) — President Barack Obama and House Speaker John Boehner pushed ahead on negotiating a broad deal to avert the "fiscal cliff," even as the GOP leader readied a backup plan Tuesday to pressure the White House with little time left to avoid a double hit on the economy.With exactly two weeks to automatic tax hikes and spending cuts, Boehner offered a measure, dubbed "plan B," that would...

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ECB'S Praet says France must cut spending and reform

PARIS (Reuters) - France must cut spending to meet its budget deficit target and undertake structural reforms to boost competitiveness, European Central Bank Executive Board Member Peter Praet said on Tuesday.President Francois Hollande has pledged to slash the public deficit to 3 percent of economic output next year from an estimated 4.5 percent this year, but has so far shied away from deep-reaching...

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Wall Street climbs on economy bets as it looks past "cliff"

NEW YORK (Reuters) - U.S.  stocks rallied on strong volume on Tuesday, capping off the S&P 500's best two-day run in a month, on confidence that a deal would be struck in Washington to avoid painful spending cuts and tax hikes that could hurt the economy.Banks, energy and technology - sectors that would benefit during economic expansion - led gains as investors remain confident that lawmakers...

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Analysis: U.S. policy gridlock holding back economy? Maybe not

(Reuters) - Washington thinks a resolution of the tense debate over the national debt will unlock a burst of economic growth by lifting uncertainty that has stymied investment.It is a widely held view on Wall Street as well, derived from the glaring signs of weak business confidence over the last year as America struggles to get its fiscal house in order.However, evidence for this belief is far from...

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South Africa's Zuma boosted by Ramaphosa return in ANC win

BLOEMFONTEIN, South Africa (Reuters) - South Africa's ruling African National Congress (ANC) re-elected President Jacob Zuma as its leader on Tuesday, setting him up for seven more years as head of state of Africa's biggest economy.Nelson Mandela's 100-year-old liberation movement also chose respected businessman Cyril Ramaphosa as his deputy, seeking to repair the image of a Zuma administration battered...

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