President Barack Obama says an effort to change the nation's tax code that is too skewed toward the wealthy has been achieved with the "fiscal cliff" deal approved in Congress.
The president said in an appearance late on Tuesday in the White House that the House vote to prevent a mix of tax increases and spending cuts avoids a problem that could have sent the economy back into recession.
Obama says the deficit is "still too high" and warns that he will not negotiate with Congress over another increase in the nation's debt ceiling.
The House approved Senate-backed legislation preventing middle-class tax increases and spending cuts that technically took effect with the new year. It represented a triumph for Obama after he campaigned for re-election on higher taxes on the wealthy.
Coca Cola, the world's largest soft drink maker, today said it won't slow down its USD 5 billion investment plans in India.
The resilient Indian IT industry is building next generation enterprises to leverage the emerging opportunities in cloud computing and mobility space worldwide.
Nissan unveiled a revamped version of its sports utility vehicle- Terrano in Mumbai on Tuesday.
Maruti has launched an upmarket looking Wagon R, called the Stingray (no relevance to Corvette Stingray or any other legendary car with that name plate) in India at Rs 4.09 lakh, ex-Delhi.
Luxury automobile makers Rolls Royce launched their latest offering - the Rolls Royce Wraith - in India on Monday
To summarise the collective commentary on why the rupee is falling, the immediate triggers are the imposition of capital controls and the hike in import duties on 'non-essentials' like gold and flat screen TVs.
Reserve Bank of India (RBI) on Tuesday announced a slew of measures, including Rs 8,000 crore bond buyback, to ease liquidity and ensure adequate credit flow to the productive sectors of the economy.