Skip to main content

Breaking News
  • Bribery trial of F1 boss Bernie Ecclestone gets underway in Munich, according to AFP
  • China passes changes to its environmental protection laws, imposing tougher penalties on polluters, the most sweeping revisions for 25 years (Reuters)
  • A car bomb in central Iraq has killed eight people, according to police, report AFP.
  • Russia’s Lavrov says he expects Geneva deal on Ukraine will soon be implemented in practical actions (Reuters quoting Russian news agencies)
  • At least three foreigners are killed after a security guard opens fire at an international hospital in the Afghan capital, Kabul, on Thursday, Afghan security sources said (Reuters)
|

It was two hours after the midnight deadline but the US Senate finally approved legislation to avoid the “fiscal cliff”.

The overwhelming vote stops most of the tax hikes and across-the-board spending cuts that were due to begin with the new year. No effects will be felt as Tuesday is a US public holiday.

The eleventh-hour deal was negotiated by Vice President Joe Biden and Senate Republicans. The measure now moves to the Republican-controlled House of Representatives which is expected to consider it later on Tuesday where analysts believe it could still face stiff challenges.

Without a deal around 600 billion dollars worth of automatic tax hikes and spending cuts will be triggered in the first days of the new year, threatening a new recession in the United States.

Copyright © 2014 euronews

More about:
|

Log in
Please enter your login details