News Summary: 30-year mortgage rate at 3.34 pct.

RATES REMAIN LOW: Average U.S. rates on fixed mortgages moved closer to their record lows this week, offering more incentive for consumers to buy homes and helping sustain a housing recovery.THE NUMBERS: Mortgage buyer Freddie Mac says the average rate on the 30-year loan rate slipped to 3.34 percent from 3.35 percent last week. That’s near the 3.31 percent rate reached in November, the lowest on...

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Wall Street rises after post-cliff deal rally

NEW YORK (Reuters) - Stocks edged up on Thursday, adding to Wall Street's biggest single-day rally in a year on Wednesday after a deal in Washington to avert the "fiscal cliff." Investors were more wary than in the previous sessions as they turned their focus to upcoming battles in Congress, including likely bitter fights over spending cuts and raising the federal debt ceiling. ...

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NHL, union to resume talks in hopes to save season

NEW YORK (AP) — After a long night of talks, the NHL and the union are to return to negotiations — but not just yet.The sides were supposed to meet at the league office Thursday at 10 a.m. EST. That, however, did not happen.The Players Association said it was updating its members on negotiations and no time had been set for bargaining to resume.Both sides understand the urgency to save a shortened...

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Why U.S. lives under the shadow of 'W'

Julian Zelizer says former President George W. Bush's key tax and homeland security policies survive in the age of ObamaSTORY HIGHLIGHTSJulian Zelizer: For all the criticism Bush got, two key policies have survivedHe says fiscal cliff pact perpetuates nearly all of Bush's tax cutsObama administration has largely followed Bush's homeland security policy, he saysZelizer: By squeezing revenues, Bush...

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Putin gives tax exile Depardieu Russian citizenship

MOSCOW (Reuters) – Russian President Vladimir Putin has granted citizenship to Gerard Depardieu, the French movie star who is quitting his homeland to avoid a tax hike on the rich, the Kremlin said on Thursday.The “Cyrano de Bergerac” actor bought a house across the border in Belgium last year to avoid a new tax rate for millionaires in France planned by Socialist President Francois Hollande but said...

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Canada says “significant risks” remain in U.S. after fiscal deal

OTTAWA (Reuters) – Canada‘s finance minister on Wednesday welcomed the U.S. “fiscal cliff” agreement, but warned that significant risks remain and urged more action to put the U.S. fiscal situation on a sustainable path.“Canada welcomes the agreement reached between the president and the Congress that protects the U.S. economy in the short term,” Finance Minister Jim Flaherty said in a statement.“That...

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What the “Fiscal Cliff” Bill Means to Taxpayers

The Senate passed a deal to address the so-called “fiscal cliff” 90 minutes after the midnight deadline by a vote of 89 to 8. The bill then moved to the House of Representatives, which passed the measure 257-167 late Tuesday night.In addition to the tax changes, the Senate and House agreed to a two-month delay in addressing $ 110 billion in government spending cuts (aka the “sequester”), which were...

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Wall Street starts 2013 with a rally on "cliff" agreement

NEW YORK (Reuters) - U.S. stocks jumped on the year's first day of trading, after Washington lawmakers cut a last-minute deal to avert automatic tax hikes that threatened to stunt economic growth. With the gains, the S&P 500 was on target for its highest close since October 19. The rally was broad-based, with nine stocks rising for every one falling on the New York Stock...

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Ray Lewis to retire after playoffs

OWINGS MILLS, Md. (AP) — Ray Lewis will end his brilliant 17-year NFL career after the Baltimore Ravens complete their 2013 playoff run.Lewis has been sidelined since Oct. 14 with a torn right triceps. The 13-time Pro Bowl middle linebacker intends to return Sunday to face the Indianapolis Colts in what will almost certainly be his final home game."I talked to my team today," Lewis said Wednesday....

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Time to rebrand in Lincoln's image?

Wade Henderson thinks the modern Republican Party should look to Abraham Lincoln for some inspiration.STORY HIGHLIGHTSWade Henderson: January 1 is 150th anniversary of the Emancipation Proclamation He says GOP should look to Lincoln, a canny politician who led moral fight on civil rightsHe says GOP has history of civil rights support that it has largely abandoned in recent yearsHenderson: In 2012,...

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