Jumaat, 30 November 2012

NST Online Business Times : latest

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US stocks eke out last-minute gains

Posted: 30 Nov 2012 05:10 PM PST

NEW YORK: US stocks took a jump in the last 15 minutes of trade Friday to end mostly in the black, with little hard news to direct trade as talks in Washington over a fix to the fiscal cliff continued.

After trading under water for most of the session, the Dow Jones Industrial Average finished the day up 3.76 points (0.03 percent) at 13,025.58.

The S&P 500 gained 0.23 (0.02 percent) to 1,416.18.

The Nasdaq Composite slipped a bare 1.79 (0.06 percent) at 3,010.24.

The markets continued to brush off political sparring over the cliff talks, with traders seeming to presume that the deep divide between Democrats and Republicans will be overcome before the January 1 deadline for implementation of harsh tax hikes and spending cuts.

Utilities and non-cyclical consumer goods were generally higher while resource stocks and health companies fell.

Trade was strong in discount chain Dollar General amid analyst chatter over whether it was undervalued, but the shares ended just 0.3 percent higher at $50.00.

Yum Brands, the global KFC and Pizza Hut owner, plunged 9.9 percent as it cautioned that China sales would be soft in the fourth quarter and it cut its 2013 profit forecast.

Zynga fell 6.1 percent after announcing a change in its relationship with Facebook, the host of many of its web games, that will allow it to move to other online platforms but also allow Facebook to develop its own games.

Internet registry VeriSign sank 13.2 percent as regulators limited its ability to raise prices for domain names.

Groupon shares sank 8.7 percent after three days of gains, still managing to end a week surrounded by rumors of management infighting with a 4.9 percent rise. -- AFP

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Obama says not acceptable for "handful of Republicans" to block fiscal deal - Reuters

Posted: 30 Nov 2012 09:37 AM PST

U.S. President Barack Obama waves from Air Force One at Andrews Air Force Base near Washington, November 30, 2012. REUTERS/Jason Reed

HATFIELD, Pennsylvania | Fri Nov 30, 2012 12:35pm EST

(Reuters) - President Barack Obama accused a "handful of Republicans" in the House of Representatives on Friday of holding up legislation to extend tax cuts for middle-class Americans in order to try to preserve them for the wealthy.

Facing a year-end fiscal crunch, Obama used a visit to a toy factory to try to drum up support among Americans and pressure Republicans in Congress to agree to his proposal to let the tax cuts expire for Americans who make more than $250,000 a year.

Obama blamed Republicans who control the House of holding up a deal.

"It's not acceptable to me and I don't think it's acceptable to you for just a handful of Republicans in Congress to hold middle-class tax cuts hostage simply because they don't want tax rates on upper income folks to go up," Obama said.

(Reporting By Mark Felsenthal, Writing by Steve Holland and Matt Spetalnick)

Powerball winning ticketholders named in Mo. - CBS News

Posted: 30 Nov 2012 09:38 AM PST

Updated at 12:29 p.m. ET

DEARBORN, Mo. A 52-year-old Missouri mechanic and his wife claimed their share Friday of the record $588 million Powerball jackpot.

Lottery officials revealed Friday that Mark and Cindy Hill, of Dearborn, held one of two winning tickets for the nation's biggest Powerball jackpot.

The Hills will split the nearly $588 million prize with whoever holds a winning ticket sold at a convenience store in suburban Phoenix. No one has come forward yet with the Arizona ticket, lottery officials said.

"I think I was having a heart attack," Cindy Hill told reporters Friday.

Once lottery officials learned the Hills' identities Thursday, they were whisked away from their home and kept hidden until Friday's press conference. At a hotel, Mark Hill realized he left some sundries at home and needed to pick up some items.

"I found myself at the store looking at the prices of stuff," he told reporters. "Old habits are hard to break."

The $587.5 million payout, which represents the second-largest jackpot in U.S. history, set off a nationwide buying frenzy, with tickets at one point selling at nearly 130,000 per minute. Before Wednesday's winners, the jackpot had rolled over 16 consecutive times without someone hitting the jackpot.

The winning ticket sold in Arizona was purchased at a 4 Sons Food Store in Fountain Hills near Phoenix, state lottery officials said.

It might be in the hands of a man in Maryland, who may have been caught on tape when he found out he hit the jackpot, reports CBS News correspondent Dean Reynolds.

Lottery officials' announcement that the Hills had won only confirmed what many residents in Dearborn, a town of about 500 about 40 miles north of Kansas City, already knew. Lottery officials said Thursday that one winning ticket had been sold at a Trex Mart gas station and convenience store on the edge of town, and Mark Hill's name circulated quickly. While he and his wife did not speak to reporters, friends and relatives identified Mark Hill as the winner.

Myron Anderson, pastor of the Baptist Church in nearby Camden Point, said he heard Thursday that the Hills had won the huge lottery prize. Anderson said he has known Mark Hill since they attended high school together and that the couple have older children and a younger elementary school-age daughter.

"He's a really nice guy, and I know his wife, and they have this nice little adopted daughter that they went out of their way to adopt," Anderson said. Funeral services for Hill's father were at the Baptist church, but the family attends church elsewhere, he said.

"I hope it's good news for them," Anderson said. "I've heard awful horror stories about people who get all that money in their lap and how everybody treats them, and if you don't mind me saying, I mean just the fact that the press is going to be after them."

Kevin Bryan, a lifelong Dearborn resident, said the only other local lottery winner he could remember was a farmer who won about $100,000 in scratch-off game years ago "and bought himself a combine."

In a Mega Millions drawing in March, three ticket buyers shared a $656 million jackpot, the largest lottery payout of all time.

Hill and the holder of the Arizona winning ticket have numerous decisions ahead, including how to accept their new wealth. The cash payout from the overall jackpot has been estimated at about $385 million, or about $192.5 million for each ticket. The winners can take their jackpots in lump sums or annual payments.

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