Sequestration: Surrender is in the Air

The budget ax is about to fall, and there's little lawmakers in Washington are doing to stop it.Despite a parade of dire warnings from the White House, an $85 billion package of deep automatic spending cuts appears poised to take effect at the stroke of midnight on Friday.The cuts – known in Washington-speak as the sequester – will hit every federal budget, from defense to education,...

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Low-key departure as pope steps down and hides away

VATICAN CITY (Reuters) - Pope Benedict slips quietly from the world stage on Thursday after a private last goodbye to his cardinals and a short flight to a country palace to enter the final phase of his life "hidden from the world". In keeping with his shy and modest ways, there will be no public ceremony to mark the first papal resignation in six centuries and no solemn declaration ending...

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Japan scrambles fighters to meet China plane

TOKYO: Japan scrambled fighter jets on Thursday to head off a Chinese government plane flying towards disputed islands in the East China Sea, the defence ministry said.It said the Y-12 propeller plane did not enter airspace around the Tokyo-controlled islands known as the Senkakus, which Beijing claims as the Diaoyus.The aircraft headed back towards China after Japan's military planes...

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Left retains Tripura,ruling parties ahead in Meghalaya, Nagaland

AGARTALA: The Left Front retained its bastion Tripura while the Naga People's Front in Nagaland and Congress in Meghalaya are set to return to power in the northeast states where counting of votes was taken up today.The Left Front government in Tripura is poised for a fifth straight term since 1993, securing absolute majority by winning 31 seats in the 60-member Assembly (CPI-M 30 and CPI-1) and...

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Medicare paid $5.1B for poor nursing home care

SAN FRANCISCO (AP) — Medicare paid billions in taxpayer dollars to nursing homes nationwide that were not meeting basic requirements to look after their residents, government investigators have found.The report, released Thursday by the Department of Health and Human Services' inspector general, said Medicare paid about $5.1 billion for patients to stay in skilled nursing facilities that failed to...

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Benedict XVI Begins Final Day as Pope

Pope Benedict XVI, the first pontiff to resign in 600 years, will step down today to lead a secluded life of prayer, far from the grueling demands of the papacy and the scandals that have recently plagued the church.Benedict, 85, will spend a quiet final day as pope bidding farewell to his colleagues that have gathered in Vatican City to see him depart. His first order of business...

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Hong Kong unveils budget, warns on global risks

HONG KONG: Hong Kong's finance chief on Wednesday unveiled a budget to kickstart growth in the city and temper property prices but warned the world economy could face headwinds from possible trade and currency battles.During a speech interrupted by protests, Financial Secretary John Tsang also set out a series of measures to support the middle class and alleviate poverty in the first budget...

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Ruckus in Rajya Sabha over alleged tapping of Arun Jaitley's phone

NEW DELHI: The issue of the alleged tapping of the phone of Rajya Sabha leader of opposition Arun Jaitley created a ruckus in the upper House on Wednesday morning. Rajya Sabha chairman M Hamid Ansari was forced to adjourn the House briefly. As soon as the House met for the day, Samajwadi Party leader Naresh Agarwal stood up and raised the issue. "It is a matter of concern that the leader of opposition's...

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What's Next for Pope Benedict XVI?

The party for the world's most prominent soon-to-be retiree began today when Pope Benedict XVI hosted his final audience as pontiff in St. Peter's Square.More than 50,000 tickets were requested for the event, according to the Vatican, while the city of Rome planned for 250,000 people to flood the streets.FULL COVERAGE: Pope Benedict XVI ResignationWith his belongings packed...

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Italy faces post-vote stalemate, spooking investors

ROME (Reuters) - The Italian stock market fell and state borrowing costs rose on Tuesday as investors took fright at political deadlock after a stunning election that saw a protest party lead the poll and no group had a clear majority in parliament. "The winner is: Ingovernability" ran the headline in Rome newspaper Il Messaggero, reflecting the stalemate the country would have to confront...

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