Business

3:20pm

Thu January 3, 2013
U.S.

The Phantom Tax That Made The Deficit Look Better

The alternative minimum tax created a "useful fiction," as one analyst says, by appearing to shrink budget deficits.
Tim Boyle Getty Images

As Americans continue to sort out the contents of the fiscal cliff legislative package passed by Congress Tuesday, they are finding elements they like and some they hate.

There's one exception. Everyone is glad Congress finally found a permanent fix for the alternative minimum tax.

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3:06pm

Thu January 3, 2013
The Two-Way

Transocean To Pay $1.4 Billion In Gulf Oil Spill Settlement

Originally published on Thu January 3, 2013 6:10 pm

The Transocean Discoverer Enterprise drill ship collects oil from the site of the Deepwater Horizon oil well as workers try to stem the flow of the spill in the Gulf of Mexico, June 12, 2010.
Saul Loeb AFP/Getty Images

Transocean, the owner of the Deepwater Horizon rig where 11 men died in April 2010, has agreed to pay $1.4 billion in criminal and civil penalties to resolve Justice Department allegations over its role in the Gulf of Mexico oil spill.

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2:35pm

Thu January 3, 2013
The Salt

Hold That Mini-Burger: Restaurants Forecast Food For 2013

Originally published on Tue January 8, 2013 9:42 am

Sliders. We're over them, the National Restaurant Association says.
Bob Ingelhart iStockphoto.com

Still ordering gazpacho and sliders at your favorite restaurant? Not pre-screening restaurant menus before you make a reservation? Well, hop in the DeLorean and set the chronometer to 2013: You're really behind the times.

Technology is in and bacon-flavored chocolate is out, says a recent survey of 1,800 chefs across the nation.

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1:47pm

Thu January 3, 2013
The Two-Way

FTC Closes Google Inquiry; Tech Giant Makes Changes And Avoids Antitrust Charges

Originally published on Thu January 3, 2013 2:25 pm

Google has agreed to change some of its business practices, in an agreement made with the Federal Trade Commission that will end the U.S. agency's antitrust probe of the search and technology company.

In the terms of the deal, Google agrees not to appropriate content such as users' reviews from other sites for use in its search and mobile offerings. The company also pledged to make it easier for advertisers to compare the value of running ad campaigns through Google compared to advertising on rivals Yahoo and Microsoft.

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11:52am

Thu January 3, 2013
NPR Story

Will Congress Get Along in 2013?

Originally published on Thu January 3, 2013 12:05 pm

A new Congress takes office today, after a nail-biting end to the last term. There were reports of choice words from House Speaker John Boehner to Senate Majority Leader Harry Reid, but Congress came together on a budget agreement. Guest host Celeste Headlee asks how congressional deals are made, and what to expect from the freshman class.

8:13am

Thu January 3, 2013
The Two-Way

Layoffs Have Slowed, Hiring Has Picked Up, But Jobless Claims Are Higher

Originally published on Thu January 3, 2013 8:46 am

The scene at a career fair in New York City last fall.
Mike Segar Reuters /Landov

Update at 8:40 a.m. ET. Jobless Claims Went Up; So Two Out Of Three Reports Were Positive:

There were 372,000 first-time claims for unemployment insurance last week, up by 10,000 from the week before, the Employment and Training Administration says. What's more, that previous week's total was revised up from the previous estimate of 350,000.

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6:45am

Thu January 3, 2013
It's All Politics

Was Boehner's Fiscal Cliff End Run Past GOP The New Normal?

House Speaker John Boehner, R-Ohio (right), and Majority Leader Eric Cantor, R-Va., enter a Republican caucus meeting at the U.S. Capitol on Tuesday.
Jacquelyn Martin AP

By letting the House take up the Senate's fiscal cliff-dodging legislation that raises income tax rates on the wealthiest earners, Speaker John Boehner answered affirmatively a question that had been on many minds: Would he allow an up-or-down floor vote on a bill opposed by most fellow House Republicans?

Until the New Year's Day vote, Boehner had generally operated the House under what was known as the Hastert Rule. Named for former Speaker Dennis Hastert, it required a "majority of the majority" to support legislation before the speaker approved a floor vote.

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6:27am

Thu January 3, 2013
Around the Nation

Mackinac Island Worries About Preserving Main St.

Originally published on Thu January 3, 2013 6:47 am

Michigan's Mackinac Island was fought over by France, England and the United States. The 200-year-old city in northern Lake Huron is a popular tourist destination. But the demolition of old buildings has raised a fierce debate about how to hold onto the past while profiting from it.

5:30am

Thu January 3, 2013
Television

Al Gore's Current TV Sold To Al Jazeera

Originally published on Thu January 3, 2013 6:49 am

The acquisition gives Al Jazeera, which is financed by the Qatari government, access to an American TV audience. The new channel, Al Jazeera America, will be based in New York. Current TV was founded in 2004 by former Vice President Al Gore.

5:30am

Thu January 3, 2013
Business

Business News

Originally published on Thu January 3, 2013 7:28 am

The credit-ratings agency Moody's said this weeks' deficit reduction deal did not produce "meaningful improvement" to the issue at hand. That issue: the debt burden and economic output. Moody's warned that if improvements were not made, the agency could downgrade the U.S. credit rating.

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