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Showing posts with the label DealBook | Today's Top Headlines (January 2

DealBook | Today's Top Headlines (January 2, 2013).: Markets Welcome Fiscal Deal | Avis to Buy Zipcar for $500 Million | Highs and Lows of 2012 | White Collar Cases to Come

Wednesday, January 2, 2013 TODAY'S TOP HEADLINES     BY WILLIAM ALDEN MARKETS WELCOME FISCAL DEAL The new year began on an optimistic note on Wednesday after the House of Representatives approved a deal to resolve the fiscal showdown. Major indexes rose in Asia, Australia and Europe in the early hours of trading. But the rally was not expected to last long, with more concerns looming in the months ahead. The fiscal deal, which was approved by the House late Tuesday and was expected to be signed quickly by the president, does not include a long-term solution for getting past the debt ceiling, the borrowing limit that the government reached at the end of the year, The New York Times notes . Spending cuts of $110 billion to the defense budget and other programs were delayed until March. And the deal itself could reduce economic growth by as much as 1 percent in the first quarter of 2013, market strategists said. Under the agreement, only the most