Taxes rising for most people despite fiscal deal

WASHINGTON (AP) — While the tax package that Congress passed New Year's Day will protect 99 percent of Americans from an income tax increase, most of them will still end up paying more federal taxes in 2013.That's because the legislation did nothing to prevent a temporary reduction in the Social Security payroll tax from expiring. In 2012, that 2-percentage-point cut in the payroll tax was worth...

Read More..

Global stocks, commodities rise on U.S. fiscal deal

NEW YORK (Reuters) - Global stocks jumped 2 percent or more and commodities rallied on Wednesday after U.S. legislators struck a deal to halt a round of automatic fiscal tightening that threatened to push the world's largest economy into recession.The deal reached on Tuesday to avert the "fiscal cliff" put off the immediate pain of income tax hikes for almost all U.S. households but did nothing to...

Read More..

Swiss bank to pay $57.8M in US tax evasion plea

NEW YORK (AP) — Switzerland's oldest bank became the first foreign bank to plead guilty in the United States to tax charges when it admitted Thursday that it helped American clients hide more than $1.2 billion from the Internal Revenue Service.Wegelin & Co., founded in 1741, entered the plea in federal court in Manhattan, agreeing to pay $20 million in restitution to the IRS, a $22 million fine...

Read More..

3 Philippine police officers among 13 killed in gunbattle

ATIMONAN, Philippines - At least three police personnel were among 13 suspected criminals who were gunned down in a shootout with Philippine security forces at a highway checkpoint, officials said Monday.Gunmen riding in three black SUVs opened fire on more than 50 army and police troopers who flagged down the vehicles late Sunday in the coastal town of Atimonan in Quezon province, about 140 kilometres...

Read More..

Officials can't rule out casualties after Australian wildfires destroy 100 homes and buildings

HOBART, Australia - Officials are searching for bodies among the charred ruins of more than 100 homes and other buildings destroyed by wildfires in the island state of Tasmania.Acting Police Commissioner Scott Tilyard said Monday no casualties had yet been reported. But it would take time before officials were certain that no one had died in the blazes that have razed 20,000 hectares (50,000 acres)...

Read More..

Sunday's Scoreboard

Sunday's GamesNFLAFC Wild Card GameBaltimore 24 Indianapolis 9NFC Wild Card GameSeattle 24 Washington 14--U.S. College footballGoDaddy.com Bowl at Mobile, AlabamaArkansas State 17 Kent State 13--NBAOklahoma City 104 Toronto 92Miami 99 Washington 71Charlotte 108 Detroit 101 (OT)Memphis 92 Phoenix 81Denver 112 L.A. Lakers 105--AHLCharlotte 2 Norfolk 1Connecticut 2 Wilkes-Barre/Scranton 0Springfield...

Read More..

Sources: Obama to nominate ex-Sen. Chuck Hagel as defence secretary; bumpy path in Senate?

WASHINGTON - President Barack Obama will nominate Chuck Hagel as his next defence secretary, a senior administration official said Sunday, choosing a former Senate colleague and a decorated Vietnam veteran and signalling he's ready for a contentious confirmation fight likely dominated by questions about Hagel's stands on Israel and Iran.Obama, who avoided a Capitol Hill battle by deciding not to nominate...

Read More..

Golf-Players in paradise for PGA Tour season opener

 If winning breeds winning, then the picturesque Hawaiian island of Maui is a paradise in more ways than one for the select group of players competing at this week's $5.7 million Hyundai Tournament of Champions.The only way to qualify for the elite field of 30 in the PGA Tour's season-opening event was through victory on the U.S. circuit last year and, with no cut and a guaranteed check after...

Read More..

McIlroy may turn down chance to play in 2016 Olympics

LONDON (Reuters) - World number one Rory McIlroy may reject the opportunity to compete at the 2016 Olympic Games in Rio de Janeiro to avoid any controversy over which country to represent.Twice major winner McIlroy, 23, said he was mulling whether to play for Britain or Ireland and he told the BBC that he might opt out of playing altogether."I just think being from where we're from, we're placed in...

Read More..

Golf-Clarke, Cabrera to tee off in T20-style Indian league

NEW DELHI, Jan 4 (Reuters) - Darren Clarke and Angel Cabrera will be among four major winners teeing off in a city-based golf league in India next month in a format modelled on the country's Twenty20 cricket league.Masterminded by Indian golfer Shiv Kapur, the league would also feature former US Open champion Michael Campbell, 2002 PGA Championships winner Rich Beem, multiple European Tour winner...

Read More..