Myanmar: Evolution, not revolution

Tourists walk around the Shwedagon Pagoda in Yangon in April. The tourism industry is set for expansion.STORY HIGHLIGHTSMyanmar is undergoing incremental change, welcomed by all, says Parag KhannaBut he says people still tread lightly, careful not to overstep or demand too muchMyanmar has survived succession of natural and man-made ravages, Khanna addsWith sanctions lifted, foreign investment is now...

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Actor Dempsey: Coffee chain bid appears successful

SEATTLE (AP) — Actor Patrick Dempsey said it appears his bid to buy a small coffee chain has prevailed in a bankruptcy auction that included Starbucks Corp.Late Thursday night, Dempsey announced that his company, Global Baristas LLC, made the winning bid for Tully’s Coffee. He noted in a KOMO-TV interview that a bankruptcy judge will have the final say on Jan. 11. Still, Dempsey tweeted “We got it!...

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The Millionaire Tax Is Becoming a Headache for France

François Hollande’s promise of a 75 percent income tax rate on millionaires was a winner on the campaign trail, with polls showing that six in ten voters supported it. But now that Hollande is President of France, the plan has caused so many headaches that even some leftists are saying it should be scrapped.At a Jan. 3 press briefing, Hollande’s spokeswoman said the government would modify and reintroduce...

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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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