Obama urges smart government spending cuts

The uncertainty caused by the government spending cuts is already having an effect on US economy, Obama said in his remarks Monday to the National Governors Association at the White House, reported Xinhua.

Global investors bullish as economy on growth path: BofA-ML

Global investors are assigning more funds to equities in the New Year as the global economy has regained the growth path, says a BofA Merrill Lynch Fund Manager Survey.

Reduced US Fed easing likely to help India: BofA Merrill Lynch

The minutes of the Fed's December meeting, however, revealed some "worries" about continued quantitative easing.

'No compromise' on Congress lifting the federal debt ceiling: Obama

Obama stated that the fiscal cliff deal would raise taxes on the wealthiest Americans while preventing a middle-class tax hike.

IMF welcomes steps taken by US Congress to avoid fiscal cliff

Welcoming the measures taken by the US Congress to avoid the country hitting fiscal cliff, which would have had an adverse impact on global economy, the International Monetary Fund (IMF) has said more remains to be done to put the US public finances back on sustainable path.

Obama hails passage of "fiscal cliff" deal by Congress

As the Congress passed the "fiscal cliff" deal ending fears of tax hikes among a vast majority of Americans, US President Barack Obama on Wednesday said this would avert possibility of recession in the economy and he would sign the bill into a law.

US 'fiscal cliff' crisis averted as House approves deal

Had not passed, fiscal cliff would have resulted in increased tax rates for more than 98 percent of Americans.

US Senate approves bill to avoid fiscal cliff

The proposal would extend tax rates on annual household income under USD 4,50,000 and postpone automatic spending cuts for two months.

Immigration reform and stabilising economy tops agenda: Obama

In an interview to the 'Meet the Press' of the NBC news, Obama, however, reiterated that his immediate priority is to ensure that the taxes of the middle class do not go up from January 1.

America’s plunge over fiscal cliff can be averted

According to the Telegraph, an exasperated President Barack Obama has set a deadline of Sunday for congressional leaders to reach an agreement to pull back from the so-called ‘fiscal cliff’.

US fiscal cliff talks to keep stock markets volatile: Experts

Domestic stock market investors will be closely tracking US fiscal cliff talks as lawmakers are expected to come out with a budget to prevent at least a portion of over USD 600 billion in tax hikes and spending cuts from taking effect in January.

Barack Obama 'optimistic' on plan to avert fiscal cliff

President Barack Obama held out hope for a last-minute agreement to avoid the "fiscal cliff" before a looming year-end deadline to avoid tax increases and spending cuts.

US consumer confidence tumbles amid looming fiscal cliff

US consumer confidence fell sharply in December, as the looming "fiscal cliff" imposed a negative effect on consumer sentiment, the Conference Board said.

Obama calls lawmakers for talks in effort to reach fiscal cliff breakthrough

The House Minority Leader, Nancy Pelosi, in a statement called on the House Republican leadership to call the House back into session to get to work.

US fiscal cliff: Obama cuts short his Hawaii vacation

US President Barack Obama Thursday cut short his vacation in Hawaii and arrived in Washington to address the fiscal cliff of automatic tax hikes and spending cuts.

Obama to end holiday early as 'fiscal cliff' looms

US President Barack Obama plans an early return to Washington, leaving his family in Hawaii for rest of the holiday vacation, the White House said.

Sluggish global economy stares at fiscal cliff

If emerging markets such as India and China grappled with spiralling inflation and risks of asset bubbles, the US and Europe remained almost stagnant despite record low interest rates in 2012.

Obama calls on Congress to salvage a fiscal cliff deal

In the absence of a resolution to the fiscal cliff, the United States could plunge into a deep economic crisis.

Obama asks Republicans to compromise to avert fiscal cliff

US President Barack Obama has asked Republicans to move beyond partisan objections to compromise with him on averting the year-end fiscal cliff.

UN report warns of second recession on EU, US conditions

The United Nations has lowered global economic growth forecast for the coming two years even as it warned of a new global recession due to the US fiscal cliff situation and EU debt crisis.