Today's Intel

Wednesday, Dec. 7, 2011

BLOOMBERG

Congressional leaders are trying to put together a package of year-end tax and spending provisions that can be enacted, including an extension of the payroll tax cut.

Sixty-eight large U.S. corporations paid no state income tax in at least one of the past three years and 20 had an average tax rate of zero or less in that period, according to a report by the Institute on Taxation and Economic Policy.

German industrial production rose more than economists forecast in October as factories weathered debt turmoil that hurt output in other countries across the region and threatens to push it into a recession.

The $589 billion European Financial Stability Facility announced a funding program that will focus on three-, six- and 12-month bills.

Most international investors predict at least one nation will eventually dump the euro and they say greater fiscal ties or a smaller currency area are the best fixes for the region's debt crisis.

The U.S. Consumer Financial Protection Bureau announced plans for a simplified credit-card agreement that spells out the cost of using credit cards in easy-to-understand English.

Warren Buffett's MidAmerican Energy Holdings utility agreed to buy the $2 billion Topaz project in southern California, branching into solar power after the industry was battered by stock markets around the world.

India suspended its decision to allow overseas retailers including Wal-Mart to open supermarkets, dealing a blow to Prime Minister Singh's efforts to boost foreign investment.

Singapore imposed additional taxes on private residential property purchases by foreigners and existing homeowners, saying it aims to curb excessive investment that may stoke risks in the banking system and economy.

The International Maritime Organization, the United Nations' shipping agency, will next year consider how to set a price on greenhouse-gas emissions from ships that contribute to climate change.

Citigroup will cut about 4,500 jobs in coming quarters as he seeks to reduce costs amid slumping revenue and "unprecedented" market conditions.

AP Top Stories

Russian authorities should annul the results of the parliamentary vote and hold a new one, former Soviet leader Mikhail Gorbachev urged Wednesday as popular indignation grew over widespread allegations of election fraud.

The American stealth drone that fell into the hands of the Iranian military late last week was on a mission for the CIA when it went down, U.S. officials told ABC News today.

A subset of Occupy Wall Street protesters across the country are bringing their fight indoors with plans to stay in foreclosed homes for months. The group launched a national campaign on Tuesday called Occupy Our Homes -- literally living in the homes of foreclosed homeowners, giving temporary reprieve from the bitter cold.

The House Financial Services Committee launched a hearing on legislation that would explicitly ban members of Congress from insider trading.

France will lose its AAA credit rating early next year regardless of last-ditch efforts by President Nicolas Sarkozy to resolve the euro zone crisis.

Airlines worldwide face over $8 billion in losses next year if Europe's politicians fail to get to grips with the region's debt crisis, the industry's leading trade group warned.

U.S. banks want regulators to give them more time to liquidate investments in certain private equity funds under the Volcker rule, arguing that without more leeway they will have to hold "fire sales."

BBC

Syrian President Bashar al-Assad says he feels no guilt about his government's ongoing crackdown, despite reports of brutality by its forces.

China's navy should speed up its development and prepare for warfare, President Hu Jintao has said. He told military personnel they should "make extended preparations for warfare".

The US vows to fight for homosexual rights abroad by using foreign aid and diplomacy, declaring gay rights an inalienable human right.

The Muslim Brotherhood says its political party has won a majority of run-off contests in the first round of Egypt's parliamentary election.

A roadside bomb kills at least 19 civilians in Afghanistan's Helmand province, an official says - a day after bombs killed 59, many at a Shia shrine.

WorldNetDaily

The Dec. 7, 1941, bombing of Pearl Harbor and those who lost their lives that day are being remembered Wednesday on the 70th anniversary of the Japanese attack that brought the U.S. into World War II. About 120 survivors will join Navy Secretary Ray Mabus, military leaders and civilians and observed a moment of silence in Pearl Harbor at 7:55 a.m. Hawaii time - the moment the attack began seven decades ago.

NBC-owned television stations in cities across the nation just teamed up with ProPublica,, a nonprofit "journalism" group funded by a billionaire husband-and-wife team who not only spent millions campaigning for President Obama but also topped donor lists to groups such as ACORN and MoveOn.org.

GOP presidential hopeful Rep. Michele Bachmann, R-Minn., says the move that has begun in the Democrat-dominated U.S. Senate to make bestiality in the military legal is "absolutely abhorrent, reprehensible."

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