Rally to wall street. Awaiting president obamas signature tonight is an agreement not to raise taxes on most americans. Even though hard decisions on Government Spending cuts were put off, the deal over tax rates ushered in a 308 point rally for the Dow Jones Industrial average. But as sylvia hall reports, the new session of Congress Beginning tomorrow faces some Big Decisions very soon. Reporter as americans return to work from the holidays, they might breathe a little easier knowing the fiscal cliff isnt happening. But the deal on the president s te. In fact, it sets the stage for a bitter First Quarter fight. The bill does add some certainty to this years tax rates, by permanently extending bushera tax cuts for people making less than 400,000 per year and couples making less than 450,000. It also staves off the sequester that package of sharp federal spending cuts for two months. But lets look at what the deal doesnt do. It doesnt take the sequester off the table completely, and it
Day break. New members of the 113th congress were sworn in today, including 100 freshmen. They face huge challenges fights over the sequester and the debt ceiling coming around march first. And as sylvia hall reports, there are low expectations lawmakers can get the job done peacefully. Reporter returning lawmakers didnt get much of a break after that bruising fiscal cliff battle. Theyre back in washington today, swearing in the new congress. Demographically, its the most Diverse Group ever sworn in. But politically, this congress is expected to deliver the same gridlock as the last one. The problem is that the congress is very divided, not only are the two houses divided, but each party is further away from the middle than has been in the past, and the public the American Public itself, is very divided. Reporter theyll start the year by tackling some big issues left over from last session. First in the house, a bill to help victims of superstorm sandy. House Speaker John Boehner nixed
Susie investors soured on apple tonight the stock tumbled as much as 2 , dipping below 600 in afterhours trading. A rare earnings miss was the reason. The lower than expected numbers came just days after all the hoopla over apples launch of the new ipad mini. Apple earned 8. 67 a share, eight cents below estimates. Revenues came in higher than expected, almost 36 billion. On top of that earnings disappointment, the company gave a less rosy forecast for the future. Suzanne pratt takes a closer look. Reporter wall street called this a throwaway quarter for apple. After all, the iphone 5 was only available for one week during the period, and the newly launched ipad mini has yet to hit stores. Still, apple sold nearly 27 million iphones during june throughseptember quarter, well more than expected. Experts say apples biggest problem was that it couldnt make enough iphones. Iphone 5 is going to continue to be an absolutely huge product. One thing iphone 5 has that the tablets dont is subsid
Captioning sponsored by wpbt this is n. B. R. Susie good evening everyone. Im susie gharib. The new congress is sworn in, and john boehner keeps his job as house speaker. Coming up, a 2013 legislative preview. Tom im tom hudson, auto sales end 2012 with their best sales year since the great recession, helping drive the u. S. Economic recovery. Susie and a win for google. The webs 800 pound gorilla is cleared of antitrust charges when it comes to its Online Search business. Tom that and more tonight on n. B. R. susie congress is back to work in washington, after a one day break. New members of the 113th congress were sworn in today, including 100 freshmen. They face huge challenges fights over the sequester and the debt ceiling coming around march first. And as sylvia hall reports, there are low expectations lawmakers can get the job done peacefully. Reporter returning lawmakers didnt get much of a break after that bruising fiscal cliff battle. Theyre back in washington today, swearing
Captioning sponsored by wpbt this is n. B. R. Tom good evening. Im tom hudson. Susie is off tonight. The nations biggest banks move to put the housing crisis behind them, paying billions of dollars to settle claims of foreclosure abuse. With the fiscal cliff drama over for now, investors look to the markets next hurdle earnings season. Coming up what to expect from Corporate Americas bottom lines. And we kick off a new series, n. B. R. U. , our partnership with some of the nations top universities. Tonight does maximizing shareholder value hurt the economy . That and more tonight on n. B. R. the nations largest banks announced two big settlements today over the housing crisis. 10 of them are settling with federal regulators over allegations they mishandled foreclosures. And in a separate deal, bank of america and governmentowned mortgage giant fannie mae settled the score over trillions of dollars worth of bad home loans. In all, the deals cost the Banking Industry billions of dollars,