RusPetro Plc, an oil producer in Siberia, rose as much as 16 percent to lead gains among the 600 companies on the FTSE All-Share Index after OAO Sberbank granted it a loan extension and a “holiday” on interest payments.
House lawmakers say ousted Internal Revenue Service chief Steven Miller failed to fully explain why he didn’t inform them for more than a year that small-government groups seeking tax-exempt status were subject to extra scrutiny.
The brinksmanship in Congress over a payroll tax-cut extension may end up looking like a quaint disagreement by next December, when lawmakers must grapple with a fiscal policy debate at least 25 times more costly.
Business-friendly House Democrats are urging Congress to overhaul the tax code by lowering corporate rates, removing breaks and easing the burden on U.S. companies’ overseas operations, mirroring some Republican goals.
The Senate won’t consider a small- scale bill to avoid an expansion of the alternative minimum tax or a cut in Medicare reimbursements to physicians if no broader budget deal is reached, Senate Majority Leader Harry Reid said.
House Republican leaders have a delicate task as their members gather for an annual retreat: pulling together a caucus that shares in Congress’s low approval ratings and crafting a legislative agenda that unifies the party.