Higher rates or fewer tax breaks -- what's worse?

WASHINGTON (AP) — In the fiscal cliff wars, a pivotal battle is raging between Democrats demanding to raise revenue by boosting tax rates on the nation's highest earners and Republicans insisting on eliminating deductions and other tax breaks instead. Which is better for the economy? Analysts say it depends. Economists generally agree that a simpler tax code with lower rates and fewer deductions,...

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Instant View: November nonfarm payrolls rose by 146,000

NEW YORK (Reuters) - Nonfarm employment increased by 146,000 jobs last month, the Labor Department said on Friday, defying expectations of a sharp pull back related to superstorm Sandy. However, job gains for both September and October were revised to show 49,000 fewer jobs created in those months than earlier reported. The jobless rate fell to 7.7 percent last month, the lowest since December...

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ECB warns Hungary again over central bank independence

BUDAPEST (Reuters) - ECB President Mario Draghi said on Friday that Hungary's central bank must retain its independence to be credible - a rare public warning about undue political influence ahead of a change in the bank's leadership. Draghi's remarks coincided with the latest in a string of calls by ministers for closer co-ordination between Prime Minister Viktor Orban's government and the National...

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Oil price slips as investors await US jobs data

The price of oil eased to near $86 a barrel Friday as investors awaited the release of the monthly U.S. jobs report, a key indicator for the world's largest economy. By early afternoon in Europe, benchmark oil for January delivery was down 24 cents to $86.02 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $1.62, or 1.8 percent, to finish at $86.26 per barrel...

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TPSA sees Polish telco market tumbling further in 2013

WARSAW (Reuters) - France Telecom's Polish unit TPSA expects its home telecoms market, which it dominates, to shrink by over seven percent next year because of economic woes and further regulatory cuts in mobile charges, its top executive said. TPSA, the former state monopolist, already slashed its 2012 outlook and future dividend payout last month due to economic factors and aggressive competitors,...

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