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Business News for Wednesday February 8, 2012
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The hottest music venue in Europe is set to open its doors to a select group in the United States. Spotify, which makes Internet music-streaming software, plans to launch the much-hyped U.S. version Thursday morning, after delays and years of negotiation. At first, Spotify will only accept new members to its free service who receive invitations from the company, one of its sponsors or a current .. more
Washington A fifth session of talks in five days is set for Thursday to head off a possible government default. Wednesday's session ended on a tense note with House Majority Leader Eric Cantor and President Barack Obama squaring off over the Republican's call for a short-term extension of the federal debt ceiling. At one point, Obama said the political wrangling confirmed what the public conside.. more
Washington A day after a 75-minute session, talks will resume Monday to try to reach a deficit-reduction deal and pave the way for a hike in the nation's $14.3 trillion debt ceiling. White House communications director Dan Pfeiffer said on his Twitter account on Sunday night that congressional leaders will return to the White House for further negotiations on Monday. At 11 a.m. that same morning.. more
Washington Political leaders retreated to hard-line positions Sunday after talks to reach a comprehensive deficit reduction deal sought by President Barack Obama effectively broke down over Republican resistance to tax increases. Obama and congressional leaders will meet Sunday night to continue their negotiations on an agreement intended to bring Republican support for raising the federal debt c.. more
Washington Talks to reach a more ambitious deficit-reduction deal effectively broke down on Saturday, House Speaker John Boehner said, as he and fellow Republicans resisted any White House attempts that could increase taxes. A White House meeting involving a bipartisan group of eight congressional leaders will continue as planned Sunday. However, Boehner said in a statement Saturday that paramet.. more
Washington President Barack Obama is seeking $3 trillion to $4 trillion in deficit cuts over the next decade, a move that would require putting Social Security, Medicare, defense spending and tax reform on the table as part of a balanced approach to cuts, Democratic officials familiar with the negotiations told CNN. The officials, speaking on condition of anonymity, did not say what types of cuts.. more
Palo Alto, California Facebook announced a video-calling feature on Wednesday in partnership with Skype, the popular Internet video-chat provider. The move comes a week after Google launched a competing social network, called Google+, which also includes a video-chatting program. Facebook's new chat feature will show up on the site as a "call" button at the top of users' profile pages. By clicki.. more
New York Days after presenting evidence questioning the accuser's credibility, New York prosecutors are still working to determine exactly what happened between Dominique Strauss-Kahn and the hotel maid that originally led to the financier's arrest on sexual assault charges. A source close to the investigation told CNN on Sunday that it is unclear whether the former International Monetary Fund ch.. more
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New York Prosecutors will notify the court Friday of troubling believability issues with the woman once called extremely credible in her sexual assault allegations against former International Monetary Fund Director Dominique Strauss-Kahn, a source familiar with the case told CNN. The issues were disclosed Thursday by prosecutors in a meeting with Strauss-Kahn's defense, the official said. The cr.. more
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