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Obama breaks off vacation to deal with fiscal cliff

President Barack Obama was to cut his holiday short and head back to Washington on Wednesday to try to address the "fiscal cliff," a set of tax hikes and spending cuts to take effect next year.
27 December 2012 12:25

Thousands flee Malaysia floods

Floods triggered by torrential monsoon rains in Malaysia forced almost 14,000 people to flee their homes and seek shelter at relief centres.
27 December 2012 11:44

Netanyahu launches re-election bid centred on Iran

Israeli Prime Minister Benjamin Netanyahu on Tuesday put Iran at the top of on his re-election campaign, pledging that halting Tehran's nuclear programme would be his first priority as premier.
27 December 2012 11:02

S. Korea's KT bids for Vivendi stake in Maroc

South Korean mobile operator KT said Wednesday it has submitted a preliminary bid for French group Vivendi's stake in Moroccan carrier Maroc in a deal estimated to be worth more than $7 billion.
27 December 2012 10:42

China and emerging powers to pay more for UN

China, Brazil, India and other emerging powers agreed to major increases in their United Nations payments as the global body hammered out a new budget deal this week to avoid its own fiscal cliff.
26 December 2012 18:16

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