While you were sleeping Budget talks turn frosty

Thu, 20 Dec 2012

By Margreet Dietz Dec 21 (BusinessDesk) - Momentum stalled on Wall Street as did budget talks between Democrats and Republicans aimed at preventing the US from falling over a fiscal cliff at the end of the month. Today Republicans in Congress will vote on House Speaker John Boehner’s plan to raise taxes on incomes over US$1 million, a plan President Barack Obama would veto as he's now seeking a US$400,000 threshold. Officials from Obama’s administration told leaders of US business and financial-services groups that negotiations with Boehner...

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