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U.S. President Barack Obama is pictured alongside a tax law count down clock in the White House Briefing Room

Obama Ready for Showdown, Demands House Extend Tax Cut

President Barack Obama demanded Tuesday that House Republicans pass a short-term extension of a payroll tax cut, showing an unwillingness to back down in a fight that could result in higher taxes for 160 million Americans.

BOJ keeps policy steady, offers bleaker view on economy

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The Bank of Japan kept monetary settings unchanged on Wednesday but offered a bleaker view on the economy than last month on mounting evidence of the pain Europe's debt crisis is inflicting on global growth and Japan's recovery prospects.
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Asian stocks on upbeat data, firm Spanish auction

Asian stocks and the euro rose on Wednesday after upbeat U.S. and German data and strong demand for Spanish debt, with investors' focus turning to a European Central Bank's tender as a gauge for euro zone funding strains.
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China Premier says banks must ease pain for business: reports

China's Premier Wen Jiabao has told the nation's banks to clean up lending policies that have left some businesses struggling with excessive borrowing costs as slowing export growth and other pressures eat into profits, state newspapers said on Wednesday.
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The new Miramax: $325 million in new business

In the year since buying the most valuable contemporary film library on the market, the new owners of Miramax have closed $325 million in new licensing agreements while resisting the urge to start making movies, according to Miramax executives.
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Man charged with shooting at China consulate

A 67-year-old man from Las Vegas was charged on Monday with shooting at the Chinese consulate in Los Angeles in a violent outburst that left no one injured, authorities said.
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Oracle sales miss forecasts, shares plunge

Oracle Corp's profit missed Wall Street's forecasts for the first time in a decade after new software sales sputtered, hammering its shares and stoking fears that a global economic slowdown is hurting tech spending.
Chanukah

Chanukah 2011: How to Light Candles and Win a Free Trip to Israel

In honor of Chanukah, the Israel Ministry of Tourism, in cooperation with El Al Israel Airlines, has re-launched its popular Chanukah microsite where visitors can log on and light virtual candles for each night of the holiday with the chance of winning a trip to Israel.
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Iran moves websites to guard against cyber attacks

Iran has moved most of its government websites from foreign-based hosting companies to new computer facilities inside the country, to protect them against cyber attacks, a senior official said on Tuesday.
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DJIA Soars, Banks Have Big Trading Day

U.S. stocks soared on Tuesday. The Dow Jones Industrial Average (DJIA) ended up 337 points, or 2.9 percent, to close at 12,103. The S&P 500 Index rose 36 points, or 3 percent, to 1,241, while the NASDAQ rose 80 points, or 3.2 percent, to 2,604.

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