Dec
23

Hundreds honor Ravi Shankar at California memorial

Hundreds of friends and family on Thursday remembered sitar virtuoso Ravi Shankar as an unfailingly generous teacher with a gentle spirit and sense of humor whose music fostered understanding between East and West. Olivia Harrison said Shankar helped her late husband George Harrison achieve a more meaningful life when he was a young Beatle. "They were like father and son as well as brothers," Harrison...
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New Miss Universe says win shows confidence is all

The 20-year-old Rhode Islander who brought the Miss Universe crown back to the U.S. for the first time in 15 years is hoping that her quick rise through the beauty contest ranks and an onstage stumble will show women that anything is possible. Perched high above the Las Vegas Strip in the Planet Hollywood winner's suite Thursday, Olivia Culpo told The Associated Press that her yearlong transformation...
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Dec
22

Wall Street dealers lose edge in U.S. Treasury auctions as investor clout grows

NEW YORK (Reuters) - A dramatic increase in the amount of government bonds that investors purchase directly from the U.S. Treasury Department in its regular debt auctions is reducing the advantage large dealers have traditionally held in the sale process. The Treasury will not disclose the names of investors who can purchase directly from the government in its auctions but speculation is rife that...
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S&P downgrades Cyprus on default fears

NICOSIA, Cyprus (AP) — The Cyprus government has vowed to do what is needed to finalize a bailout agreement with international lenders after ratings agency Standard & Poor's downgraded Cyprus further into junk status amid concerns that the country could default on its debts. The U.S. agency said Friday that the two-notch downgrade to CCC+ was due to a "considerable and rising" risk that the country,...
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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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How the Dow Jones industrial average fared

Investors sent Washington a reminder Friday that Wall Street is a power player in talks to avoid the "fiscal cliff." Stocks fell sharply after House Republicans called off a vote on tax rates and left federal budget talks in disarray 10 days before sweeping tax increases and government spending cuts take effect. The Dow Jones industrial average was down as much as 189 points before recouping some...
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Wall Street falls on fiscal cliff setback

NEW YORK (Reuters) - U.S. stocks finished lower on Friday after a Republican plan to avoid the "fiscal cliff" failed to gain sufficient support on Thursday night, draining hopes that a deal would be reached before 2013. Still, stocks managed to rebound from the day's lows near the end of the session, and for the week, major averages still ended higher, with the S&P 500 gaining 1.2 percent. Trading...
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