Central African Republic rebels halt advance, agree to peace talks

DAMARA, Central African Republic (Reuters) - Rebels in Central African Republic said they had halted their advance on the capital on Wednesday and agreed to start peace talks, averting a clash with regionally backed troops.

The Seleka rebels had pushed to within striking distance of Bangui after a three-week onslaught and threatened to oust President Francois Bozize, accusing him of reneging on a previous peace deal and cracking down on dissidents.

Their announcement on Wednesday gave the leader only a limited reprieve as the fighters told Reuters they might insist on his removal in the negotiations.

"I have asked our forces not to move their positions starting today because we want to enter talks in (Gabon's capital) Libreville for a political solution," said Seleka spokesman Eric Massi, speaking by telephone from Paris.

"I am in discussion with our partners to come up with proposals to end the crisis, but one solution could be a political transition that excludes Bozize," he said.

Bozize on Wednesday sacked his Army Chief of Staff and took over the defense minister's role from his son, Jean Francis Bozize, according to a decree read on national radio, a day after publicly criticizing the military for failing to repel the rebels.

The advance by Seleka, an alliance of mostly northeastern rebel groups, was the latest in a series of revolts in a country at the heart of one of Africa's most turbulent regions - and the most serious since the Chad-backed insurgency that swept Bozize to power in 2003.

Diplomatic sources have said talks organized by central African regional bloc ECCAS could start on January 10. The United States, the European Union and France have called on both sides to negotiate and spare civilians.

Central African Republic is one of the least developed countries in the world despite its deposits of gold, diamonds and other minerals. French nuclear energy group Areva mines the country's Bakouma uranium deposit - France's biggest commercial interest in its former colony.

RELIEF IN BANGUI

News of the rebel halt eased tension in Bangui, where residents had been stockpiling food and water and staying indoors after dark.

"They say they are no longer going to attack Bangui, and that's great news for us," said Jaqueline Loza in the crumbling riverside city.

ECCAS members Chad, Congo Republic, Gabon and Cameroon have sent hundreds of soldiers to reinforce CAR's army after a string of rebel victories since early December.

Gabonese General Jean Felix Akaga, commander of the regional force, said his troops were defending the town of Damara, 75 km (45 miles) north of Bangui and close to the rebel front.

"Damara is a red line not to be crossed ... Damara is in our control and Bangui is secure," he told Reuters. "If the rebellion decides to approach Damara, they know they will encounter a force that will react."

Soldiers armed with Kalashnikovs, rocket propelled grenade launchers and truck-mounted machineguns had taken up positions across the town, which was otherwise nearly-abandoned.

Some of the fighters wore turbans that covered their faces and had charms strung around their necks and arms meant to protect them against enemy bullets.

Chad's President Idriss Deby, one of Bozize's closest allies, had warned the rebels the regional force would confront them if they approached the town.

Chad provided training and equipment to the rebellion that brought Bozize to power by ousting then-president Ange Felix Patasse, who Chad accused of supporting Chadian dissidents.

Chad is also keen to keep a lid on instability in the territory close to its main oil export pipeline and has stepped in to defend Bozize against insurgents in the past.

A CAR government minister told Reuters the foreign troop presence strengthened Bozize's bargaining position ahead of the Libreville peace talks.

"The rebels are now in a position of weakness," the minister said, asking not to be named. "They should therefore stop imposing conditions like the departure of the president."

Central African Republic is one of a number of countries in the region where U.S. Special Forces are helping local soldiers track down the Lord's Resistance Army, a rebel group which has killed thousands of civilians across four nations.

France has a 600-strong force in CAR to defend about 1,200 of its citizens who live there.

Paris used air strikes to defend Bozize against a rebellion in 2006. But French President Francois Hollande turned down a request for more help, saying the days of intervening in other countries' affairs were over.

(Additional reporting by Paul-Marin Ngoupana in Bangui and Jon Herskovitz in Johannesburg; Writing by Richard Valdmanis; Editing by Andrew Heavens and Janet Lawrence)

Read More..

Apple reportedly considering Waze acquisition to help fix iOS Maps app

Title Post: Apple reportedly considering Waze acquisition to help fix iOS Maps app
Url Post: http://www.news.fluser.com/apple-reportedly-considering-waze-acquisition-to-help-fix-ios-maps-app/
Link To Post : Apple reportedly considering Waze acquisition to help fix iOS Maps app
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Prince Charles Beats Prince William on Best Dressed List

By Simon Perry

01/02/2013 at 02:15 PM EST

Princes Charles, William and Harry

Getty (2), REX USA

Move over, Prince William and Prince Harry. Prince Charles is first in line for the throne, and can unofficially be crowned the "King of good tailoring."

The 64-year-old soon-to-be grandfather reigns at No. 8 on GQ 's annual best dressed list – well ahead of dashing William, who came in at 37.

Natalie Massenet of Net-a-Porter and head of the British Fashion Council calls Charles always "on trend." His method being simple: "This is a man who knows what he likes, knows how to wear it, and sticks with it whatever the prevailing fashions," she says in the February issue of the magazine out Thursday in the U.K. and next week in the U.S.

Since marrying Kate, 30-year-old William is noted to have improved sartorially, donning suits by Richard James and Spencer Hart.

And despite coming in far down the list, the debonair prince still get some raves and is said by the men's magazine to epitomize "true British style." 

Meanwhile, guess who topped the list of 50: Downton Abbey's Dan Stevens beat Robert Pattinson, Homeland's Damian Lewis and Idris Alba for the No. 1 spot. He is "always a class act," the magazine says.

Read More..

Brain image study: Fructose may spur overeating

This is your brain on sugar — for real. Scientists have used imaging tests to show for the first time that fructose, a sugar that saturates the American diet, can trigger brain changes that may lead to overeating.

After drinking a fructose beverage, the brain doesn't register the feeling of being full as it does when simple glucose is consumed, researchers found.

It's a small study and does not prove that fructose or its relative, high-fructose corn syrup, can cause obesity, but experts say it adds evidence they may play a role. These sugars often are added to processed foods and beverages, and consumption has risen dramatically since the 1970s along with obesity. A third of U.S. children and teens and more than two-thirds of adults are obese or overweight.

All sugars are not equal — even though they contain the same amount of calories — because they are metabolized differently in the body. Table sugar is sucrose, which is half fructose, half glucose. High-fructose corn syrup is 55 percent fructose and 45 percent glucose. Some nutrition experts say this sweetener may pose special risks, but others and the industry reject that claim. And doctors say we eat too much sugar in all forms.

For the study, scientists used magnetic resonance imaging, or MRI, scans to track blood flow in the brain in 20 young, normal-weight people before and after they had drinks containing glucose or fructose in two sessions several weeks apart.

Scans showed that drinking glucose "turns off or suppresses the activity of areas of the brain that are critical for reward and desire for food," said one study leader, Yale University endocrinologist Dr. Robert Sherwin. With fructose, "we don't see those changes," he said. "As a result, the desire to eat continues — it isn't turned off."

What's convincing, said Dr. Jonathan Purnell, an endocrinologist at Oregon Health & Science University, is that the imaging results mirrored how hungry the people said they felt, as well as what earlier studies found in animals.

"It implies that fructose, at least with regards to promoting food intake and weight gain, is a bad actor compared to glucose," said Purnell. He wrote a commentary that appears with the federally funded study in Wednesday's Journal of the American Medical Association.

Researchers now are testing obese people to see if they react the same way to fructose and glucose as the normal-weight people in this study did.

What to do? Cook more at home and limit processed foods containing fructose and high-fructose corn syrup, Purnell suggested. "Try to avoid the sugar-sweetened beverages. It doesn't mean you can't ever have them," but control their size and how often they are consumed, he said.

A second study in the journal suggests that only severe obesity carries a high death risk — and that a few extra pounds might even provide a survival advantage. However, independent experts say the methods are too flawed to make those claims.

The study comes from a federal researcher who drew controversy in 2005 with a report that found thin and normal-weight people had a slightly higher risk of death than those who were overweight. Many experts criticized that work, saying the researcher — Katherine Flegal of the Centers for Disease Control and Prevention — painted a misleading picture by including smokers and people with health problems ranging from cancer to heart disease. Those people tend to weigh less and therefore make pudgy people look healthy by comparison.

Flegal's new analysis bolsters her original one, by assessing nearly 100 other studies covering almost 2.9 million people around the world. She again concludes that very obese people had the highest risk of death but that overweight people had a 6 percent lower mortality rate than thinner people. She also concludes that mildly obese people had a death risk similar to that of normal-weight people.

Critics again have focused on her methods. This time, she included people too thin to fit what some consider to be normal weight, which could have taken in people emaciated by cancer or other diseases, as well as smokers with elevated risks of heart disease and cancer.

"Some portion of those thin people are actually sick, and sick people tend to die sooner," said Donald Berry, a biostatistician at the University of Texas MD Anderson Cancer Center in Houston.

The problems created by the study's inclusion of smokers and people with pre-existing illness "cannot be ignored," said Susan Gapstur, vice president of epidemiology for the American Cancer Society.

A third critic, Dr. Walter Willett of the Harvard School of Public Health, was blunter: "This is an even greater pile of rubbish" than the 2005 study, he said. Willett and others have done research since the 2005 study that found higher death risks from being overweight or obese.

Flegal defended her work. She noted that she used standard categories for weight classes. She said statistical adjustments were made for smokers, who were included to give a more real-world sample. She also said study participants were not in hospitals or hospices, making it unlikely that large numbers of sick people skewed the results.

"We still have to learn about obesity, including how best to measure it," Flegal's boss, CDC Director Dr. Thomas Frieden, said in a written statement. "However, it's clear that being obese is not healthy - it increases the risk of diabetes, heart disease, cancer, and many other health problems. Small, sustainable increases in physical activity and improvements in nutrition can lead to significant health improvements."

___

Online:

Obesity info: http://www.cdc.gov/obesity/data/trends.html

___

Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP

Mike Stobbe can be followed at http://twitter.com/MikeStobbe

Read More..

Wall Street extends gains on "cliff" deal

NEW YORK (Reuters) - U.S. stocks jumped on the year's first day of trading, after Washington lawmakers cut a last-minute deal to avert automatic tax hikes that threatened to stunt economic growth.

With the gains, the S&P 500 was on target for its highest close since October 19.

The rally was broad-based, with nine stocks rising for every one falling on the New York Stock Exchange. All 10 S&P 500 industry sector indexes rose at least 1 percent, led by the S&P financial index <.gspf>, up 2.2 percent.

The S&P Information Technology index <.gspt> gained 2.1 percent. Among the strongest names in the sector was Hewlett-Packard , which climbed nearly 5 percent to $14.95. HP's gain followed a miserable 2012, when the stock fell nearly 45 percent.

On New Year's Day, while the U.S. stock market was closed, Congress passed a bill to raise taxes on wealthy individuals and families, and preserve certain benefits, while avoiding immediate austerity measures. The combination of mandatory tax hikes and reduced federal spending, which had been set to go into effect on January 1, had been known as the "fiscal cliff.

"We had three choices: We were going to be off the cliff, we were going to be on the cliff, or we were going to avoid the cliff, and we avoided it," said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago.

"There's a relief rally, some progress because we raised revenue, but I think it's going to be short-lived because the relief rally today was created by politics, and the next cliff is going to be created by politics."

The vote avoided income-tax hikes for all U.S. households, but failed to resolve other political budget showdowns. Spending cuts of $109 billion in military and domestic programs were delayed for just two months, as another fight over the U.S. debt limit also looms then.

The market's surge was due to "the concrete news as opposed to a lack of specific news" that was common during the negotiations, said Stephen Carl, head of U.S. equity trading at The Williams Capital Group in New York.

U.S. stocks ended 2012 with the S&P 500 up 13.4 percent for the year, as investors largely shrugged off worries about the fiscal cliff. For the year, the Dow gained 7.3 percent and the Nasdaq jumped 15.9 percent.

The Dow Jones industrial average <.dji> gained 223.60 points, or 1.71 percent, to 13,327.74. The Standard & Poor's 500 Index <.spx> advanced 24.61 points, or 1.73 percent, to 1,450.80. The Nasdaq Composite Index <.ixic> climbed 66.87 points, or 2.21 percent, at 3,086.38.

Bank shares rose following news that U.S. regulators are close to securing another multibillion-dollar settlement with the largest banks to resolve allegations that they unlawfully cut corners when foreclosing on delinquent borrowers.

Bank of America Corp rose 3.4 percent to $11.99 and Wells Fargo shares added 2 percent to $34.87. JPMorgan Chase & Co shares rose 1.5 percent to $44.34.

Shares of Zipcar Inc jumped 48.4 percent to $12.23 after Avis Budget Group Inc said it would buy Zipcar for about $500 million in cash to compete with larger rivals Hertz and Enterprise Holdings Inc. Avis rose 4.5 percent to $20.72.

Shares of Apple rose 2.4 percent to $545, boosting technology stocks, following a report that the most valuable tech company has started testing a new iPhone and a new version of its iOS software. Apple stocks struggled in the final weeks of 2012 before a rally to end the year.

U.S. manufacturing expanded slightly in December after an unexpected November contraction, an Institute for Supply Management report showed on Wednesday.

A Commerce Department report showed U.S. construction spending fell in November for the first time in eight months, as an extended bout of weakness in the business sector outweighed modest growth in outlays on residential projects.

The stock market's reaction to both reports was muted.

(Editing by Jan Paschal)

Read More..

At least 61 crushed to death in Ivory Coast stampede

ABIDJAN (Reuters) - At least 61 people were crushed to death in a stampede after a New Year's Eve fireworks display at a stadium in Ivory Coast's main city Abidjan early on Tuesday, officials said.

Witnesses said police had tried to control crowds around the Felix Houphouet Boigny Stadium following the celebrations, triggering a panic in which scores were trampled.

"The estimate we can give right now is 49 people hospitalized ... and 61 people dead," said the chief of staff of Abidjan's fire department Issa Sacko.

Crying women searched for missing family members outside the stadium on Tuesday morning. The area was covered in patches of dried blood and abandoned shoes.

"My two children came here yesterday. I told them not to come but they didn't listen. They came when I was sleeping. What will I do?" said Assetou Toure, a cleaner.

Sanata Zoure, a market vendor injured in the incident, said New Year's revelers going home after watching the fireworks had been stopped by police near the stadium.

"We were walking with our children and we came upon barricades, and people started falling into each other. We were trampled with our children," she said.

Another witness said police arrived to control the crowd after a mob began chasing a pickpocket.

President Alassane Ouattara called the deaths a national tragedy and said an investigation was underway to find out what happened.

The country, once a stable economic hub for West Africa, is struggling to recover from a 2011 civil war in which more than 3,000 people were killed.

Ivory Coast's security forces were once among the best trained in the region, but a decade of political turmoil and the 2011 war has left them in disarray.

At least 18 people were killed in another stampede during a football match in an Abidjan stadium in 2010.

(Reporting by Loucoumane Coulibaly and Alain Amontchi; Writing by Richard Valdmanis; Editing by Andrew Heavens)

Read More..

Four Android productivity apps you should use in 2013

Happy New Year! Like most folks, I am working on some resolutions for 2013. One resolution I have is to be more productive. One way I am going to do this is by using my Android phone better. Now there are apps that I have, but really have not used to their fullest. As I work on this resolution, I might discover even better apps. For now I will focus on these impressive apps that can make anyone more productive.

I use Hootsuite on the computer, but rarely find myself engaging with it on my smartphone. With Hootsuite, you can manage Twitter, Facebook, LinkedIn, and Foursquare accounts. The free version allows for up to five accounts and one member of your team to access the account. There is a pro version with a monthly fee, in which you can have more accounts and team members and helpful analytics tools.

The design of the app is very good. If you sync the web version to mobile, you will have everything automatically downloaded to the phone. When viewing content, you swipe left or right to change columns or streams. If you are in the middle of a stream, simply tap the top menu bar to automatically return to the top. The app allows for multiple profiles and scheduled tweets. My goal is to keep up with my feeds and tweets in real-time rather than waiting until I get to a computer.

Another web service that I started to use, but find myself not using it to the fullest. Producteev is a web-based task management service. With Producteev you can work as an individual or in a team by setting up workspaces and then organize tasks by labels. For each task you can assign a priority, due date, and share with team members, if you have any. Overall, this is a great service, since I like making lists, even though I rarely remember having made them.

The Producteev app is available for all platforms. The app has a very clean interface and is easy to find tasks. Probably the best way to keep up with tasks is to use the different widget for the home screen. Seeing the widgets will help keep those key tasks in the forefront of your mind. The app will work offline and syncs in the background.

I read blogs every single day, especially those related to new apps, Android, or mobile news. The only way I can do that is via my Google Reader. I find myself trying to catch up each day on the computer (just like with Twitter activity) when I would be better off reading a little bit over time during the day. NewsRob is a Google Reader that I have had for years. The interface is very clean and easy to use. The developer created a bunch of customizations options, which really make this reader stand out.

With NewsRob you can set up a notification of new articles, how you synchronize with Google and when, how many articles to keep in your cache, and more. If you set up folders within Google Reader, NewsRob will download the folders, too. This enables you to read the posts by blog or folder. The app provides a very clean blogpost display optimized for smaller screens. With each post you can zoom in or out, mark a post read or unread, view in the browser, and share the link to email or services such as Evernote. There is a free version of the app.

The last task I need to work on to be more productive is to keep up with the calendar. I find myself checking on the computer, after the fact, finding out that I am either late or forgot about a meeting or appointment. Using Google calendar is a good place to start, but I have not found the standard calendar app on my Droid was all that helpful.

Business Calendar is a very capable calendar app that has a ton of features. The app lets you view your calendar in a number of different views, and has search and favorite-calendar features, to name a few. The option of viewing different calendars, color coding and being able to easily add, delete, and edit events is helpful. The ability to use widgets for reminders is important. The pro version has over 10 different sizes and allows for the import or export of calendar files in the iCalendar format. Business Calendar also has a free version.

So my top goal or resolution for 2013 is to be more productive. I think using these apps more will help me accomplish that goal. Are there any apps you have but not using to their fullest? What resolutions do you have for 2013?

Download the Appolicious Android app

Tech News Headlines – Yahoo! News

Title Post: Four Android productivity apps you should use in 2013
Rating:
100%

based on 99998 ratings.
5 user reviews.
Author: Fluser SeoLink
Thanks for visiting the blog, If any criticism and suggestions please leave a comment

Read More..

Len Goodman, Dancing with the Stars Judge, Marries Longtime Girlfriend

TV Watch

By Maggie Coughlan

01/01/2013 at 02:15 PM EST

From the judges' table to the altar!

Len Goodman of Dancing with the Stars tied the knot with his longtime girlfriend Sue Barrett on Sunday in London.

The couple exchanged vows during a surprise ceremony in front of 30 family members and friends.

Goodman, 68, and Barrett, 47, have been together for more than 10 years.

"I've had a marvelous day and now my gorgeous Sue is the new Mrs. Goodman," the ballroom dancing expert tells the Daily Mail.

This is Goodman's third marriage.

Read More..

Clinton receiving blood thinners to dissolve clot

WASHINGTON (AP) — Secretary of State Hillary Rodham Clinton continues to recover in a New York hospital where she's being treated for a blood clot in her head.

Her doctors say blood thinners are being used to dissolve the clot and they are confident she will make a full recovery. Clinton didn't suffer a stroke or neurological damage from the clot that formed after she suffered a concussion during a fainting spell at her home in early December, doctors said in a statement Monday.

Clinton, 65, was admitted to New York-Presbyterian Hospital on Sunday when the clot turned up on a follow-up exam on the concussion, Clinton spokesman Phillipe Reines said. The clot is located in the vein in the space between the brain and the skull behind the right ear. She will be released once the medication dose for the blood thinners has been established, the doctors said.

In their statement, Dr. Lisa Bardack of the Mount Kisco Medical Group and Dr. Gigi El-Bayoumi of George Washington University said Clinton was making excellent progress and was in good spirits.

Clinton's complication "certainly isn't the most common thing to happen after a concussion" and is one of the few types of blood clots in the skull or head that are treated with blood thinners, said Dr. Larry Goldstein, a neurologist who is director of Duke University's stroke center. He is not involved in Clinton's care.

The area where Clinton's clot developed is "a drainage channel, the equivalent of a big vein inside the skull. It's how the blood gets back to the heart," Goldstein said.

Blood thinners usually are enough to treat the clot and it should have no long-term consequences if her doctors are saying she has suffered no neurological damage from it, Goldstein said.

Clinton returned to the U.S. from a trip to Europe, then fell ill with a stomach virus in early December that left her severely dehydrated and forced her to cancel a trip to North Africa and the Middle East. Until then, she had canceled only two scheduled overseas trips, one to Europe after breaking her elbow in June 2009 and one to Asia after the February 2010 earthquake in Haiti.

Her condition worsened when she fainted, fell and suffered a concussion while at home alone in mid-December as she recovered from the virus.

This isn't the first time Clinton has suffered a blood clot. In 1998, midway through her husband's second term as president, Clinton was in New York fundraising for the midterm elections when a swollen right foot led her doctor to diagnose a clot in her knee requiring immediate treatment.

Clinton had planned to step down as secretary of state at the beginning of President Barack Obama's second term. Whether she will return to work before she resigns remains a question.

Democrats are privately if not publicly speculating: How might her illness affect a decision about running for president in 2016?

After decades in politics, Clinton says she plans to spend the next year resting. She has long insisted she had no intention of mounting a second campaign for the White House four years from now. But the door is not entirely closed, and she would almost certainly emerge as the Democrat to beat if she decided to give in to calls by Democratic fans and run again.

Her age — and thereby health — would probably be a factor under consideration, given that Clinton would be 69 when sworn in, if she were elected in 2016. That might become even more of an issue in the early jockeying for 2016 if what started as a bad stomach bug becomes a prolonged, public bout with more serious infirmity.

Not that Democrats are willing to talk openly about the political implications of a long illness, choosing to keep any discussions about her condition behind closed doors. Publicly, Democrats reject the notion that a blood clot could hinder her political prospects.

"Some of those concerns could be borderline sexist," said Basil Smikle, a Democratic strategist who worked for Clinton when she was a senator. "Dick Cheney had significant heart problems when he was vice president, and people joked about it. He took the time he needed to get better, and it wasn't a problem."

It isn't uncommon for presidential candidates' health — and age — to be an issue. Both in 2000 and 2008, Sen. John McCain, R-Ariz., had to rebut concerns he was too old to be commander in chief or that his skin cancer could resurface.

Beyond talk of future politics, Clinton's three-week absence from the State Department has raised eyebrows among some conservative commentators who questioned the seriousness of her ailment after she canceled planned Dec. 20 testimony before Congress on the deadly attack on the U.S. diplomatic mission in Benghazi, Libya.

Clinton had been due to discuss with lawmakers a scathing report she had commissioned on the attack. It found serious failures of leadership and management in two State Department bureaus were to blame for insufficient security at the facility. Clinton took responsibility for the incident before the report was released, but she was not blamed. Four officials cited in the report have either resigned or been reassigned.

Read More..

"Fiscal cliff" moves to House, timing and outcome uncertain

WASHINGTON (Reuters) - Washington's last-minute scramble to step back from a recession-inducing "fiscal cliff" shifted to the Republican-controlled House of Representatives on Tuesday after the Senate approved a bipartisan deal to avoid steep tax hikes and spending cuts.

In a rare late-night show of unity, the Senate voted 89 to 8 to raise some taxes on the wealthy while keeping income taxes low on more moderate earners.

The bill's prospects were less certain in the House, where a vote had not yet been scheduled.

Republicans, unhappy that the bill contained over $600 billion in tax increases but only around $12 billion in spending cuts, said they may change it more to their liking and send it back to the Senate. Party leaders planned to take the temperature of rank-and-file lawmakers over the afternoon before deciding on a course of action.

"My recommendation would be not to take a package put together by a bunch of sleep-deprived octogenarians on New Year's Eve," said Representative Steve LaTourette, a moderate Republican from Ohio who is a close ally of House Speaker John Boehner.

Republicans could face a backlash if they scuttle the deal. Income tax rates technically rose back to 1990s levels for all Americans at midnight, and public opinion polls show Republicans would shoulder the blame if Congress fails to act.

Many conservative Republicans have rejected tax increases on any Americans, no matter how wealthy. Some liberal Democrats were also upset with the complex deal, which they thought gave away too much.

Lingering uncertainty over U.S. tax and spending policy has unnerved investors and depressed business activity for months, and lawmakers had hoped to reach a deal before Tuesday, when a broad range of automatic tax increases and spending cuts would begin to punch a $600 billion hole in the economy.

Financial markets have avoided a steep plunge on the assumption that Washington would ultimately avoid pushing the country off the fiscal cliff into a recession.

With financial markets closed for the New Year's Day holiday, lawmakers have one more day to close the deal.

"My district cannot afford to wait a few days and have the stock market go down 300 points tomorrow if we don't get together and do something," Representative Steve Cohen, a Democrat from Tennessee, said on the House floor.

LATE-NIGHT DRAMA

The bill passed by the Senate at around 2 a.m. would raise income taxes on families earning more than $450,000 per year and limit the amount of deductions they can take to lower their tax bill.

Low temporary rates that have been in place for less affluent taxpayers for the past decade would be made permanent, along with a range of targeted tax breaks put in place by President Barack Obama in the depths of the 2009 recession.

However, workers would see up to $2,000 more taken out of their paychecks annually as a temporary payroll tax cut was set to expire.

The bill would also delay an across-the-board spending cut in domestic and military programs for two months, and extend jobless benefits for 2 million long-term unemployed people who otherwise would see them run out.

The bill would raise taxes on less than 1 percent of the population, according to the nonpartisan Tax Policy Center.

However, that may be too much for conservative Republicans in the House, who last month scuttled an effort by Boehner to limit tax increases to those who earn more than $1 million. He has faced insurrections from his conservative wing in other budget showdowns over the past two years.

Republicans had hoped to include significant spending cuts in the deal to narrow trillion-dollar budget deficits. Conservatives were already looking forward to the next battle over the debt ceiling, in late February, to extract deficit reduction measures from the Democratic president.

The White House has floated $600 billion worth of spending cuts in earlier negotiations, and Obama said he would be willing to tackle deficit reduction over the coming months.

"There's more work to do to reduce our deficits, and I'm willing to do it," he said in a statement urging the House to pass the current bill.

Vice President Joe Biden, who was instrumental in pushing through the Senate measure, addressed a closed-door meeting of House Democrats seeking their support to pass the bill.

The conservative Club for Growth urged a "no" vote on the Senate measure, and warned that Republicans who support it could face a primary challenge when they run for re-election in two years.

Liberal groups also have urged Democrats to reject the deal.

Richard Trumka, head of the AFL-CIO labor union, wrote on Twitter that the deal does not raise taxes enough on the wealthy and "sets the stage for more hostage taking" by Republicans in future budget confrontations.

Obama had originally sought to raise taxes on households making more than $250,000. Even with the higher threshold, the White House said is getting 85 percent of the revenue it wanted.

Republican Representative Tom Cole said his House colleagues should pass the Senate bill rather than try to change it.

"We ought to take this deal right now, and we'll live to fight another day," Cole said on MSNBC.

(Additional reporting by Jeff Mason and Mark Felsenthal, Writing by Andy Sullivan; Editing by Alistair Bell)

Read More..