House to vote on debt-ceiling deal Wednesday: lawmaker

Washington (AFP) - US lawmakers were poised Wednesday to vote to raise the country's debt limit and re-open the federal government, after an eleventh-hour deal to save Washington from a historic default.

Republican and Democratic senators announced a deal that would stave off the most pressing crisis by extending the US Treasury's borrowing authority until February 7.

After several chaotic days running up to Thursday's deadline, the agreement would also immediately open shuttered federal agencies, bringing hundreds of thousands of furloughed employees back to work, and fund government through January 15.

"The compromise we reached will provide our economy with the stability it desperately needs," Senate Majority Leader Harry Reid said, after working behind closed doors with his Republican rival Senator Mitch McConnell.

According to the White House, President Barack Obama hailed the agreement and urged Congress to act swiftly to ensure that "the government reopens and the threat of default is removed."

The hard-won compromise still needs to pass both chambers of Congress -- including an unpredictable House of Representatives -- before it reaches Obama's desk.

After the deal was unveiled, House speaker John Boehner bowed to the inevitable and admitted there were "no reasons for our members to vote no today," while maintaining that Republicans didn't like the deal.

"We fought the good fight, we did everything we could. They just kept saying no, no, no," Boehner said of lawmakers in President Barack Obama's Democratic Party.

"Our drive to stop the train wreck that is the president's health care law will continue," Boehner added, apparently seeking to placate hard-right Tea Party-backed members of the Republican Party who have opposed Obama's health care reform.

Lawmakers said they believed the legislation could pass Congress Wednesday, allowing the government to borrow beyond its current $16.7 trillion debt ceiling to meet its obligations.

The US economy was faced with entering unchartered waters, with the Treasury saying that from Thursday it would no longer be able to borrow more money to meet its obligations and avert a devastating debt default.

In a sign of the confusion, the White House insisted that the final deadline was midnight Thursday -- 24 hours later than expected by many as the end point for raising the debt limit.

Ratings firm Standard & Poor's said Wednesday that the government shutdown had already taken $24 billion out of the economy and will cut growth in the fourth quarter significantly.

While the deal was welcomed on Wall Street, with the Dow Jones Industrial Average and the broader S&P 500 index up almost 1.4 percent, the signs of a close to humiliating, rushed last-minute deal were plain to see.

"I hope that we're nearing the end of this ordeal, this impasse which never should have happened in the first place," said Senator Susan Collins, a Republican who has led efforts to broker a compromise.

Senate leaders hammered out their compromise after previous efforts in the Republican-led House collapsed in chaos Tuesday.

"The American people are tired of where we are," Senator Kelly Ayotte, a Republican, said. "They're tired of the brinksmanship, and so they want us to get this resolved now for them -- today, hopefully."

Republican Senators Ted Cruz and Rand Paul, two vocal opponents to the deal, said they would not attempt to delay it further.

"I have no objection to the timing of this vote," Cruz told reporters.

House conservatives backed by the Tea Party movement have thus far thwarted votes on the debt ceiling and on passing a budget, demanding concessions from Obama.

Obama's Democrats have refused to allow Republicans to hold those issues to "ransom" with attempts to slash spending or dismantle the president's landmark health insurance reform.

But the Senate deal includes a mechanism that forces lawmakers into entering long-term budget negotiations, with recommendations due by December 13.

The stand-off forced the US federal government into a partial shutdown from October 1, and if it continues it would put the United States in a position where it might not be able to pay its debts.

Markets have been watching the mess carefully, but have not panicked, most traders assuming that Washington will scrape together a deal before triggering global financial calamity.

The Fitch ratings agency on Tuesday had underlined the seriousness of the situation by putting the US government's AAA credit rating on a downgrade warning, and European markets slid in morning trade.

The Senate has a Democratic majority and would back a straight vote to raise the debt ceiling.

Major world powers have been left looking on in dismay, unable to do anything to protect their own economic interests, with many deeply invested in US Treasuries -- hitherto seen as a safe haven.

China and Japan, which between them hold $2.4 trillion in US Treasuries, have expressed alarm and annoyance at the bitter political partisanship that has caused the weeks-long crisis.

Source: http://news.yahoo.com/senate-leaders-strike-deal-end-us-debt-impasse-153327956.html
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Syria disarmament boss Kaag: idealist on dangerous mission

The Hague (AFP) - The Dutchwoman named Wednesday to head the vast operation to destroy Syria's chemical arsenal is a brilliant organiser and lover of the Middle East set to embark on her most dangerous mission yet.

Sigrid Kaag's life will change radically when she moves from UN headquarters in New York to strife-torn Damascus, leaving her Palestinian diplomat husband and their four children behind, to head the unprecedented disarmament mission in a country at war.

With high-level contacts from UN headquarters in New York to Arab leaders and the cultural experience necessary to get the job done, fluent Arabic-speaker Kaag, 52, was chosen for the skills she has honed over almost 20 years in various UN bodies.

Currently UN Assistant Secretary-General within the UN Development Programme (UNDP), Kaag is to head a team of around 100 people, including UN workers and a team from the Organisation for the Prohibition of Chemical Weapons, based in Damascus and Cyprus.

A former colleague in The Hague who asked not to be named told AFP that Kaag, who also speaks Dutch, English, French and German, is "exceedingly professional and well prepared."

"She has proved in a number of functions that she's a leader and a modern manager," the former colleague said: "She is not an authoritarian person."

"They were looking for somebody well versed in laying political contacts and making sure the mission is expertly managed, with neighbouring countries as well as the UN Security Council," the former colleague said.

She has experience of Syria, having worked for the UN Relief and Works Agency (UNRWA) in Jerusalem, which looks after the plight of Palestinian refugees in Lebanon, Jordan, the occupied Palestinian territories as well as Syria.

Kaag worked in the Dutch foreign ministry's UN Political Affairs Department in The Hague, before entering the UN system in 1994. She also has private sector experience, having worked for two years as analyst for Anglo-Dutch oil giant Shell in London.

Dutch newspaper AD reported that Kaag had met Syrian President Bashar al-Assad's wife Asma at least once, in 2008, when she worked for UNICEF.

She went to school in Zeist, in the central Netherlands, and left to do Middle Eastern studies in Cairo, according to Dutch press reports.

Since then she has lived in glamorous cities such as Beirut, New York, London and Vienna, but also dustier destinations from Khartoum to Amman.

She holds two masters in international relations, from Exeter and Oxford universities in Britain, according to the UNDP website.

When Kaag talks to the press she would rather discuss her work than herself, but past interviews shed light on her typically Dutch ideals.

"I think that everyone has to make a contribution to peace and security," Kaag was quoted as saying by Dutch media.

"Be bent on it. Make sure that you get experience. Travel. Do your bit. There are so many ways to have an important role. If it doesn't work the first time, do it again," she said.

In an interview with a Jordanian website in 2010, she discussed her husband, Anis al-Qaq, a former Palestinian ambassador to Switzerland, their two daughters Jana and Inas and sons Makram and Adam.

"My husband Anis, whom I met while working in Palestine and who was working at the time as a shadow minister, plays a pivotal role in keeping our family together," she explained.

“I like my work environment to be organised and systematic and I look forward to seeing my home in order as well,” she said.

In the interview, she listed her interests as hiking, skiing, yoga, music and "taking lessons".

Source: http://news.yahoo.com/syria-disarmament-boss-kaag-idealist-dangerous-mission-172549203.html
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Walmart U.S. to use supercenters as distribution hubs

By Jessica Wohl

(Reuters) - Wal-Mart Stores Inc plans to use some of its large U.S. stores as distribution centers for nearby smaller stores, a move that could help the chain keep goods in stock and cut costs, Walmart U.S. Chief Executive Bill Simon said on Tuesday.

The plan is being tested and will roll out in the first of three unnamed markets in March, Simon said at the company's meeting with investors and analysts in Arkansas on Tuesday. The meeting was also webcast.

The world's largest retailer sees the economy as "tough" and "unpredictable" around the world, Chief Executive Officer Mike Duke said.

In the United States, the government shutdown is on the minds of the company's customers, Duke said. While Wal-Mart has not yet given specific details of how the shutdown is affecting its business, it was blunt that it is seeing an impact.

If people are not getting paid, they are not shopping as much, Simon said.

But Duke added, "No matter what environment we are in, Wal-Mart will win."

Wal-Mart has already felt pressure from the economy. Same-store sales at Walmart U.S., its largest business, unexpectedly fell 0.3 percent in the second quarter.

Walmart U.S. feels pretty good about its profit but is not satisfied with its sales, said Simon.

Same-store sales at the bottom 10 percent of its large U.S. supercenters were down 7.5 percent last quarter, he said.

Shares of Wal-Mart were up 48 cents, or 0.6 percent, at $75.16 as the meeting continued Tuesday morning. Through Monday, the shares were up 10 percent this year, underperforming the 19.7 percent gain in the S&P 500 <.spx>.

SUPERCENTERS AS DISTRIBUTION HUBS

Walmart U.S. said it is testing using its supercenter stores as "cross docks" to supply nearby smaller stores.

The company's supercenters are the backbone of its business, selling a mix of groceries and general merchandise in stores that are each roughly 182,000 square feet.

Walmart U.S. has also been building smaller Neighborhood Market stores, which are about 38,000 square feet each and operate more like traditional grocery stores. It also has about 20 Walmart Express stores, which are roughly 15,000 square feet.

Walmart U.S. can use the back room of a supercenter as a holding area for goods to be sold at the supercenter and also as a "little mini warehouse" where workers can get items ready for daily deliveries to smaller stores, Simon said.

That would eliminate the need to send 53-foot trucks from distribution centers to the smaller stores, and therefore reduce transportation costs.

For the first time, Walmart U.S. plans to open more of its smaller-format stores than supercenters, Simon said.

Walmart U.S. also talked about opening 70,000-square-foot supercenters, which would cost less to build and operate.

(Reporting by Jessica Wohl in Chicago; Editing by Gerald E. McCormick and John Wallace)

Source: http://news.yahoo.com/wal-mart-says-u-government-shutdown-customers-minds-132111163--business.html
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Fox: Irsay's comments on Manning a cheap shot

ENGLEWOOD, Colo. (AP) — Denver Broncos coach John Fox is agitated with Indianapolis Colts owner Jim Irsay for taking what he called a cheap shot at quarterback Peyton Manning.

Fox used his weekly SiriusXM NFL Radio appearance Tuesday to criticize the Colts' owner for sounding ungrateful for all Manning did for his team and city, including winning a Super Bowl in 2007.

Irsay told USA Today in an interview Tuesday that the Colts turned to Andrew Luck two years ago and fired Manning rather than pay him a $28 million roster bonus because they were looking for more playoff success.

Fox normally isn't one to criticize anyone in public, but Irsay's comments clearly struck a nerve.

The Broncos, who have won 19 of 23 games under Manning — but lost to Baltimore in the playoffs — visit the Colts on Sunday night in Manning's first return to Indianapolis as a visiting player.

Source: http://news.yahoo.com/fox-irsays-comments-manning-cheap-shot-063542121--spt.html
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U.S. Senate will not announce fiscal deal on Tuesday: aides

WASHINGTON (Reuters) - U.S. Senate leaders are continuing to negotiate on legislation to raise the nation's borrowing authority and provide temporary government funding but a deal is not expected to be announced on Tuesday, Senate aides said.

Lawmakers said a deal was close but there remained details to be worked out. The Senate and House of Representatives are scheduled to hold sessions on Wednesday and they could debate any deal that Senate leaders ultimately strike.

Congress is racing against a Thursday deadline, when the Treasury Department says it will bump up against its legal borrowing limit.

(Reporting By Richard Cowan; Editing by David Brunnstrom)

Source: http://news.yahoo.com/u-senate-not-announce-fiscal-deal-tuesday-aides-023704527--business.html
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New York Comic Con Cosplay: See The Sexiest And Most Elaborate Costumes

Our friends at Guy Code hit NYCC to find the most amazing costumes on the con floor.


By Alex Zalben, photos by Colin Douglas Ray

Source:
http://www.mtv.com/news/articles/1715601/new-york-comic-con-2013-cosplay-costumes.jhtml

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Ivanka Trump Names Baby Son Joseph Frederick Kushner -- See a Picture!

Finally, a name! Ivanka Trump and husband Jared Kushner welcomed their second child, a baby boy, on Monday, Oct. 14, but waited until the following day to reveal his name.

"With love we welcome our son, Joseph Frederick Kushner," she tweeted on Oct. 15, along with a picture of the bundle of joy's birth announcement. "Visit Tumblr to see some pictures!"

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Baby Joseph, born at 9:54 p.m., was named after his paternal great-grandfathers, whom the new mom describes as "master builders of their generation and inspiring patriarchs of their families."

"Jared's grandfather, Joseph, was a rock," the new mom explained on her Tumblr. "His indomitable spirit, his sense of family, and his work ethic are the values we hope to hand down to our son. My grandfather, Frederick, was a builder not just of tens of thousands of homes throughout this city, but of a tight-knit family that honors to this day the traditions he established."

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She continued: "Both men set the standards that have been passed down through the generations and which we hope to impart upon Joseph and Arabella. They created a legacy for our family that inspires our careers as well as our love and respect for one another. We are honored to name our son after these two distinguished men. We feel so blessed with the newest member of the family!"

Trump, 31, and husband Jared Kushner, who wed in 2009, are already parents to daughter Arabella, 2. She announced the birth of their son on Twitter, writing, "We just welcomed a beautiful & healthy son into the world. Jared, Arabella and I couldn't be happier!"

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Her father and proud grandfather, Donald Trump, also tweeted, "My beautiful daughter Ivanka just had a healthy baby boy. Jared and Ivanka are very proud!" The Apprentice boss, 67, later added, "Thanks to all for the wonderful congratulations sent to me on the birth of Ivanka's little boy -- so nice!"

"Arabella is at home with her grandmother practicing her swaddle before her little brother comes home!" Trump captioned this Instagram photo of her daughter.
Credit: Courtesy of Ivanka Trump

On Tuesday, Trump shared an adorable photo of daughter Arabella waiting to greet her baby brother at home. "Arabella is at home with her grandmother practicing her swaddle before her little brother comes home!" she captioned the photo of her little girl holding a baby doll.

Source: http://www.usmagazine.com/celebrity-moms/news/ivanka-trump-names-baby-son-joseph-frederick-kushner-20131510
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