A statue of the United States first President, George Washington, is seen under the Capitol dome in Washington January 2, 2013. REUTERS/Gary Cameron

Bigger fights loom after U.S. "fiscal cliff" deal

WASHINGTON - U.S. President Barack Obama and congressional Republicans face even bigger budget battles in the next two months after a hard-fought "fiscal cliff" deal narrowly averted devastating tax increases and spending cuts.  Full Article 

House prices edge down in December - Nationwide 7:12am GMT

LONDON - House prices edged lower in December, prolonging stagnation in the market, and a pick-up in the new year is unlikely, data from mortgage lender Nationwide showed on Thursday.

A worker from Italy's radical metalworkers union Fiom holds up a flare during an eight hour strike in Rome March 9, 2012. REUTERS/Max Rossi
Italy

Monti's labour reform has little impact

ROME - Overhauling Italy's rigid labour rules was supposed to be Prime Minister Mario Monti's flagship reform, but six months after their approval the measures seem to be having little effect on hiring, firing or the labour market in general.  Full Article 

Syrian refugees and local residents carry the bodies of Syrian refugees, Emara al-Zoabi, 7 months old, Moath al-Rawashdeh, 30, and Ahmed al-Natoor, 62, during a funeral service in Ramtha, near the Syrian border December 2, 2012. REUTERS/Muhammad Hamed
Syria

U.N. raises Syria death toll to 60,000

AMMAN/GENEVA - More than 60,000 people have died in the Syrian uprising and civil war, the United Nations said, dramatically raising the death toll in a struggle that shows no sign of ending.  Full Article 

A man walks past a branch of Barclays bank in Leicester, central England, August 30, 2012. REUTERS/Darren Staples
Funds

Cash payouts to fall as banks squeeze bonuses

Many European banks are likely to limit the cash portion of staff bonuses as rocky markets, tighter capital rules and costly scandals take their toll, and total bonuses for 2012 could be down by as much as 30 percent, senior managers believe.  Full Article 

A farmer carries collected gum arabic from an Acacia tree in the western Sudanese town of En Nahud that lies in the main farming state of North Kordofan December 18, 2012. REUTERS/Mohamed Nureldin Abdallah
Africa

West's sweet tooth proves a boon for Sudan

EN NAHUD, Sudan - Rising global demand for gum arabic, a natural and edible gum taken from acacia trees, has created a rare export success story for Sudan, a country plagued by ethnic conflicts, poverty and poor economic infrastructure.  Full Article 

Ultra-Orthodox Jews work in the trading room of Israel's diamond exchange in Ramat Gan near Tel Aviv October 30, 2012. REUTERS/Nir Elias
Israel

Israel's diamond industry seeks pious polishers

RAMAT GAN, Israel - In order to revive a dwindling diamond manufacturing industry, Israel plans to recruit a legion of ultra-Orthodox Jews, who because of their dedication to prayer and study, have been unable or unwilling to join the work force.   Full Article 

Opinion

Edward Hadas

Global relief on fiscal cliff misses the point

By Edward Hadas

The unnecessary fight over the U.S. budget ended with another messy and inadequate compromise. Other equally silly clashes loom. Investors may cheer, but their nail-biting was symptomatic of the world’s excessive dependence on dysfunctional American politics. That hasn’t changed.  Commentary 

Opinion

Dominic Elliott

Bank CEO survivors’ club may shrink again in 2013

By Dominic Elliott

Of the major bank chiefs who had their jobs before the crisis, three remain: Goldman’s Lloyd Blankfein, JPMorgan’s Jamie Dimon and Brady Dougan at Credit Suisse. Each has had setbacks. The two U.S. bank heads appear to have shrugged them off, but Dougan looks more vulnerable.  Commentary 

Opinion

John Lloyd

India tries to move beyond its rape culture

By John Lloyd

Outrage over a recent gang rape in India has subjected Indian society to the most cauterising of examinations, in which everything – government, political parties, the police and traditional attitudes – is held up through the prism of violated women.  Commentary 

Opinion

Ian Bremmer

The three 2012 themes that matter most

By Ian Bremmer

It's clear that 2012 was a busy and a terribly volatile year. But which stories will actually matter five years from now? By my count, three: China rising, the Middle East in turmoil, and Europe muddling along.  Full Article 

Opinion

John C Abell

Three tech predictions for 2013

By John C Abell

Sometimes the most important ideas in tech are hiding in plain sight. In that spirit, here are three predictions for 2013 that are just waiting to happen. No 3D TVs, wearable computers or jet packs for me - at least not this year. Instead: cheap Kindles, the return of netbooks, and a useful Siri.  Commentary 

Insight

People walk past a HSBC bank branch in midtown Manhattan in New York City, December 11, 2012. REUTERS/Mike Segar

How Colombian drug traffickers used HSBC to launder money

What looked like an ordinary case against small-time drug traffickers helped expose large-scale money laundering at one of the world's biggest banks and was one of the most important leads for U.S. investigators pursuing a case against HSBC that eventually led to a $1.9 billion settlement.  Full Article 

Reuters TV

The remnants of a roller coaster sit in the surf three days after Hurricane Sandy came ashore in Seaside Heights, New Jersey. REUTERS/Steve Nesius

The year in 60 seconds

A multimedia showcase of some of 2012's top stories, including the war in Syria, austerity protests across Europe, the Israel-Gaza conflict, Superstorm Sandy, the U.S. election and the London Olympics.  Video