Trade-offs in raising Medicare eligibility age

WASHINGTON (AP) — Americans are living longer, and Republicans want to raise the Medicare eligibility age as part of any deal to reduce the government’s huge deficits.But what sounds like a prudent sacrifice for an aging society that must watch its budget could have some surprising consequences, including higher premiums for people on Medicare.Unlike tax hikes, which spawn hard partisan divisions,...

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Wall Street Week Ahead: “Cliff” worries may drive tax selling

NEW YORK (Reuters) – Investors typically sell stocks to cut their losses at year end. But worries about the “fiscal cliff” – and the possibility of higher taxes in 2013 – may act as the greatest incentive to sell both winners and losers by December 31.The $ 600 billion of automatic tax increases and spending cuts scheduled for the beginning of next year includes higher rates for capital gains, making...

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Toronto mayor to stay in power pending appeal of ouster

TORONTO (Reuters) – Toronto Mayor Rob Ford can stay in power pending an appeal of a conflict of interest ruling that ordered him out of his job as leader of Canada’s biggest city, a court ruled on Wednesday.Madam Justice Gladys Pardu of the Ontario Divisional Court suspended a previous court ruling that said Ford should be ousted. Ford’s appeal of that ruling is set to be heard on January 7, but a...

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Apple to return some Mac production to U.S. in 2013

SAN FRANCISCO/NEW YORK (Reuters) – Apple Inc plans to move some production of Macintosh computers to the United States from China next year, Chief Executive Tim Cook said in remarks published on Thursday, in what could be a important test of the nascent comeback in U.S. electronics manufacturing.Apple makes the majority of its products, from Macs to the iPhone and iPad, in China, the world’s factory...

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Spotify gains more listeners and Metallica

(Reuters) – Digital music service Spotify rolled out new features and said it increased the number of active users at a press event that featured a special musical performance by Frank Ocean.Spotify now has 20 million active users worldwide, up 33 percent in less than six months. The company counts five million people among paying subscribers, a 25 percent increase during the same time period.Spotify...

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Men more likely to die of cancer: study

(Reuters) – Not only are men more likely than women to be diagnosed with cancer, men who get it have a higher chance of dying from the disease, according to a U.S. study.In an analysis of cases of all but sex-specific cancers such as prostate and ovarian cancer, for example, men were more likely than women to die in each of the past ten years, said researchers, whose findings appeared in The Journal...

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Starbucks agrees to pay more tax

6 December 2012 Last updated at 13:49 ETPlease turn on JavaScript. Media requires JavaScript to play. Starbucks UK’s Kris Engkov: “We are going to do what’s required beyond the law”Coffee chain Starbucks has agreed to pay more UK corporation tax, after a public outcry over how little it pays.Kris Engskov, managing director of Starbucks UK, announced that the company would pay “a significant amount...

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Death toll from Philippine typhoon nears 300

NEW BATAAN, Philippines (AP) — Stunned parents searching for missing children examined a row of mud-stained bodies covered with banana leaves while survivors dried their soaked belongings on roadsides Wednesday, a day after a powerful typhoon killed nearly 300 people in the southern Philippines.Officials fear more bodies may be found as rescuers reach hard-hit areas that were isolated by landslides,...

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Apple’s shares swallow biggest loss in four years

NEW YORK/SAN FRANCISCO (Reuters) – Apple Inc shares tumbled more than 6 percent on Wednesday, chalking up their biggest single-day loss in four years as fears grow about intensifying competition in the mobile device market.Investors and analysts blamed the sell-off on a mix of factors, including a forecast by an influential research firm that the iPad maker is continuing to cede ground to rival Google...

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Sean Bean replaces Brendan Fraser in TNT pilot “Legends”

LOS ANGELES (TheWrap.com) – TNT‘s upcoming pilot “Legends” is getting a Stark makeover.Sean Bean, who played ill-fated Lord of Winterfell Eddard Stark in HBO’s “Game of Thrones,” has signed on to replace Brendan Fraser in TNT’s upcoming pilot “Legends.”Fraser dropped out of the pilot last month; the show would have marked his first starring turn on a TV series.Bean will play Martin Odum, a deep-cover...

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