Wall Street set for higher open after jobs report

NEW YORK (Reuters) - Wall Street was set for a higher open on Friday after a key U.S. jobs report showed the pace of hiring by employers had eased sightly in December but gave signals of some momentum in the labor market's recovery since the 2007-09 recession.Though the data showed lackluster economic growth was unable to make a dent in the still-high U.S. unemployment rate, it calmed fears about...

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Stocks inch higher following jobs report

NEW YORK (AP) — Stocks are mostly edging higher on Wall Street in early trading after the U.S. government reported that hiring held up last month.The Dow Jones industrial average rose 11 points to 13,403 shortly after the opening bell Friday. The Standard & Poor's 500 index rose two to 1,461 and the Nasdaq fell a point to 3,099.The Labor Department said U.S. employers added 155,000 jobs in December....

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Sensex edges up to two-year high on oil, earnings

MUMBAI (Reuters) - The BSE Sensex edged higher on Friday to touch two-year high, posting its strongest weekly performance since the end of November, as oil companies such as ONGC rose on hopes a proposed change in the government's pricing formula would boost gas prices.Software services exporters such as Tata Consultancy Services also rose on expectations upcoming October-December earnings results...

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Israeli undercover raid sets off violent protests

RAMALLAH, West Bank (AP) — Israeli undercover troops broke into a West Bank apartment building in a failed arrest raid Thursday, igniting a violent protest and signaling that Israeli-Palestinian security coordination may be in trouble, officials said.Thursday's raid targeted a suspected Islamic militant and marked the second time this week an army operation sparked clashes. Palestinians accused Israel...

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Israeli library unveils ancient Afghan manuscripts

JERUSALEM (AP) — A trove of ancient manuscripts in Hebrew characters rescued from caves in a Taliban stronghold in northern Afghanistan is providing the first physical evidence of a Jewish community that thrived there a thousand years ago.On Thursday Israel's National Library unveiled the cache of recently purchased documents that run the gamut of life experiences, including biblical commentaries,...

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Brotherhood official urges Egypt's Jews to return

CAIRO (AP) — A leading Muslim Brotherhood member and adviser to Islamist President Mohammed Morsi created a stir in Egypt when he called on Egyptian Jews in Israel to return home because Egypt is now a democracy and because the Jewish state won't survive.Essam el-Erian's remarks in a TV appearance put the Brotherhood, which holds power in Egypt, on the spot as opponents — and some allies — jumped...

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Activists: At least 9 killed by Damascus car bomb

BEIRUT (AP) — A car bomb blew up late Thursday in a Damascus gas station, killing at least nine people, a Syrian activist group said.The Britain-based Syrian Observatory for Human Rights said the death toll in the blast in the capital's Masakin Barzeh neighborhood is expected to rise because many of the wounded were in critical condition.Syria's state news service also reported the blast but did not...

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Rebel area shows limits of rebel push for Damascus

Twin airstrikes by government jets on a large, rebel-held suburb of Damascus on Thursday sheered the sides off apartment towers and left residents digging through rubble for the dead and wounded.The bombing of Douma came amid a wave of attacks on rebellious districts of the Syrian capital, part of the government's efforts to keep rebel fighters out of President Bashar Assad's seat of power. Late Thursday,...

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Fiscal-cliff deal no recipe for a robust economy

Housing is rebounding. Families are shrinking debts. Europe has avoided a financial crackup. And the fiscal cliff deal has removed the most urgent threat to the U.S. economy.So why don't economists foresee stronger growth and hiring in 2013?Part of the answer is what Congress' agreement did (raise Social Security taxes for most of us). And part is what it didn't do (prevent the likelihood of more...

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Auto industry posts best U.S. sales year since 2007

U.S. auto sales rose 9 percent in December, led by foreign manufacturers, capping off the best year for the industry since before the recession.The year's sales were driven by a slowly recovering economy, more available credit and the need for consumers and businesses to replace aging cars and trucks.General Motors Co posted December U.S. sales growth of 5 percent compared with the year-earlier month,...

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Economy, year-end sales help auto industry in 2012

DETROIT (AP) — A steadily improving economy and strong December sales lifted the American auto industry to its best performance in five years in 2012, especially for Volkswagen and Japanese-brand vehicles, and experts say the next year should be even better.Carmakers on Thursday announced their final figures, which totaled 14.5 million — 13 percent better than 2011.More than three years after the...

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Fracking can be done safely in New York state: dept report

The natural gas drilling process known as fracking would not be a danger to public health in New York state so long as proper safeguards were put into place, according to a health department report that environmentalists fear could help lift a moratorium on the controversial technique.Governor Andrew Cuomo is weighing the economic benefits of hydraulic fracturing - commonly known as fracking - against...

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IMF's economist: budget cuts may hurt growth less now

WASHINGTON (Reuters) - Belt-tightening in advanced economies may not be as harmful to growth now as it was during the height of the financial crisis, but governments should still be careful about drastic cuts, an International Monetary Fund research paper found on Thursday.The IMF came under heavy criticism in October when it conceded that austerity programs it recommended during the global economic...

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Purported photo of new BlackBerry phone with QWERTY keyboard leaks

Research In Motion (RIMM) CEO Thorsten Heins recently said during the company’s Q3 earnings call that BlackBerry 7 is still a “strong success” in the Asian-Pacific markets. Despite the company putting most of its weight behind BlackBerry 10 and the Z10 and X10, Heins said RIM will continue supporting BB7 and consumers “might expect us to even build one of the other new products” based on it. Heins...

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Microsoft Surface trampled at the bottom of the tablet pile this Christmas

While it does have drawbacks just like anything else, Microsoft’s (MSFT) Surface is a great slate for those looking for a fresh new take on the modern tablet. Unfortunately, it doesn’t look like very many people were looking for a fresh new take on the modern tablet this holiday season. In a recent note to investors, R.W. Baird analyst William Power recounted recent conversations had at retailers...

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iPad is a Christmas graveyard for ‘Grand Theft Auto’ and ‘Modern Combat’

At the beginning of December, the traditional video game industry attempted another iPad invasion. New versions of “Grand Theft Auto,” “Modern Combat” and “Baldur’s Gate” hit the iOS app market priced between $5 and $10. Over the past years, we have seen repeated attempts by major console and PC industry franchises to tailor their blockbuster games for iPhone and iPad platforms. None have succeeded....

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Apple still can’t build enough iPad minis

A common issue often presents itself when Apple (AAPL) launches new products: it can’t build them fast enough. We’ve seen it time and time again, most recently when Apple launched the iPhone 5 and 150,000 dedicated factory workers still couldn’t keep up with demand. Now, a report has surfaced claiming that Apple’s manufacturing partners in the Far East can’t build units fast enough to keep pace with...

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Lack of low-end BlackBerry 10 phone could be a serious stumbling block in RIM comeback bid

South Africa is one of Research In Motion’s (RIMM) top five markets in the world, and it is a decent proxy for the entire African market. Leading regional carrier Vodacom’s November smartphone statistics illustrate exactly why BlackBerry 10 cannot arrive soon enough… and why RIM badly needs a cheap new BlackBerry 10 model by spring.[More from BGR: Apple CEO Tim Cook sees pay drop 99% in 2012]Vodacom...

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China commentaries demand U.S. responsibility on "fiscal cliff"

 China's official Xinhua news agency demanded on Tuesday that the United States live up to its global economic responsibilities, put political infighting aside and sort out the "fiscal cliff" mess."Being the world's only superpower and the issuer of the dominant global reserve currency, the United States has a unique role and an unshirkable duty to help cure the ailing global economy," one of...

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Analysis: Economy would dodge bullet for now under fiscal deal

 A deal worked out by Senate leaders to avoid the "fiscal cliff" was far from any "grand bargain" of deficit reduction measures.But if approved by the House of Representatives, it could help the country steer clear of recession, although enough austerity would remain in place to likely keep the economy growing at a lackluster pace.The Senate approved a last-minute deal early Tuesday morning to...

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Senate approves "fiscal cliff" deal, crisis eased

 The Senate moved the U.S. economy back from the edge of a "fiscal cliff" on Tuesday, voting to avoid imminent tax hikes and spending cuts in a bipartisan deal that could still face stiff challenges in the House of Representatives.In a rare New Year's session at around 2 a.m. EST (0700 GMT), senators voted 89-8 to raise some taxes on the wealthy while making permanent low tax rates on the middle...

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Political brinksmanship still threatens US economy

Even if U.S. lawmakers prevent the worst of the so-called fiscal cliff, the brinksmanship in Washington over taxes and spending is likely to continue damaging the fragile economy well into 2013.A months-long political standoff over fiscal policy has already taken its toll, adding uncertainty that has discouraged consumers from spending and businesses from hiring and investing.The squabbling seems...

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US may skirt 'fiscal cliff' but faces higher taxes

A last-ditch tax deal in the Senate might let the U.S. economy escape the worst of the so-called fiscal cliff and avoid going back into recession. But even if the House goes along, the tax increases likely coming in 2013 will dent economic growth anyway.In the early hours of the new year, the Senate voted to end a long stalemate and raise taxes on upper-income households, extend long-term unemployment...

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