Tax Tangle

Employees of Indian software company Infosys walk past Infosys logos at their campus in the Electronic City area in Bangalore September 4, 2012. REUTERS/Vivek Prakash/Files

Infosys to challenge new tax demand

Infosys Ltd, India's No. 2 software services exporter, said on Monday it would challenge a 5.77 billion rupees income tax demand raised by Indian authorities earlier this month.  Full Article 

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Obama to meet congressional leaders on Friday - aide

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U.S. President Barack Obama returns from Christmas visit in Hawaii to the White House in Washington, December 27, 2012. REUTERS/Jonathan Ernst

U.S. President Barack Obama returns from Christmas visit in Hawaii to the White House in Washington, December 27, 2012.

Credit: Reuters/Jonathan Ernst

WASHINGTON | Fri Dec 28, 2012 5:51am IST

WASHINGTON (Reuters) - President Barack Obama will host a meeting on Friday with the four top congressional leaders, a White House aide said on Thursday, as the president and lawmakers rush to break a deadlock over the so-called fiscal cliff days before a year-end deadline.

The president will meet with Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell, House of Representatives Speaker John Boehner and House Minority Leader Nancy Pelosi, White House spokeswoman Amy Brundage said.

Obama returned to Washington on Thursday after a truncated Hawaii vacation in an effort to restart stalled efforts aimed at averting tax increases and sharp spending cuts that economists say would push the economy into recession. The Senate also reconvened Thursday and the House of Representatives is due to go back into session on Sunday.

(Reporting By Mark Felsenthal; editing by Stacey Joyce)
Economy
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