DAI: House passes symbolic tax-cut renewal

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Good evening Pan, THU 02 Dec 2010    House passes symbolic tax-cut renewal Deficit-cutting plan advances in uphill climb Wall Street rallies as euro concerns ease, data eyed Data shows fresh signs of improving economy QE2 will be regularly reviewed: Fed officials Barry Diller steps down as IAC CEO, buys out Malone ECB reported buying bonds in euro zone debt crisis JPMorgan countersues Lehman in battle over billions Shareholders open attack on WaMu's bankruptcy plan Pepsi to buy Russia's WBD in biggest foreign foray Russia and Qatar to host World Cups Da Vinci's modern models ECB sticks with old rescue plan House passes symbolic tax-cut renewal December 02, 2010 04:12 PM ET WASHINGTON (Reuters) - The House of Representatives on Thursday voted to extend Bush-era tax cuts on individual income up to $200,000 a year and $250,000 for families, letting extra cuts for the wealthiest to expire. Full Article Deficit-cutting plan advances in uphill climb December 02, 2010 04:28 PM ET WASHINGTON (Reuters) - Two more lawmakers pledged on Thursday to support a plan to slash the U.S. budget deficit drawn up by the co-chairmen of a presidential commission, but the plan still faced long odds of moving to Congress. Full Article Wall Street rallies as euro concerns ease, data eyed December 02, 2010 04:31 PM ET NEW YORK (Reuters) - Wall Street rallied for a second day on Thursday as concerns about Europe's sovereign debt crisis waned, giving investors the chance to add to positions in winners among banks and retailers. Full Article Data shows fresh signs of improving economy December 02, 2010 01:30 PM ET WASHINGTON (Reuters) - Fresh signs the U.S. economy has broken out of its summer soft patch emerged on Thursday as data showed a gauge of jobless benefits hit a new two-year low last week and pending home sales unexpectedly rose in October. Full Article QE2 will be regularly reviewed: Fed officials December 02, 2010 04:03 PM ET ROCHESTER, N.Y./WASHINGTON (Reuters) - The Federal Reserve's controversial $600 billion bond buying program is subject to regular review and can be adjusted if needed, two Fed officials said on Thursday. Full Article Barry Diller steps down as IAC CEO, buys out Malone December 02, 2010 01:28 PM ET NEW YORK (Reuters) - Barry Diller is stepping down as chief executive of IAC/InterActiveCorp, the company said, adding it had bought out one of its largest shareholders, John Malone's Liberty Media Corp. Full Article ECB reported buying bonds in euro zone debt crisis December 02, 2010 11:42 AM ET FRANKFURT (Reuters) - The European Central Bank resisted pressure on Thursday to commit to a major bond-buying program to contain the euro zone debt crisis, but traders said the ECB had been quietly buying bonds anyway. Full Article JPMorgan countersues Lehman in battle over billions December 02, 2010 10:48 AM ET NEW YORK/BANGALORE (Reuters) - JPMorgan Chase & Co countersued Lehman Brothers Holding Inc, accusing the bankrupt investment bank of sticking it with tens of billions of dollars of loans that might never be repaid. Full Article Shareholders open attack on WaMu's bankruptcy plan December 02, 2010 01:10 PM ET WILMINGTON, Delaware (Reuters) - Washington Mutual Inc defended on Thursday its plan to repay creditors, while an attorney for disgruntled shareholders attacked the proposal because it leaves them with nothing. Full Article Pepsi to buy Russia's WBD in biggest foreign foray December 02, 2010 12:55 PM ET MOSCOW/NEW YORK (Reuters) - PepsiCo Inc will buy control of Russian juice and dairy company Wimm-Bill-Dann for $3.8 billion, its most ambitious overseas purchase, making it Russia's largest food and beverage maker. Full Article

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