US stocks dive as 'fiscal cliff' looms

US stock markets have tumbled in early trade after President Barack Obama's re-election victory set up a tough battle with Republicans over a looming "fiscal cliff". In the first six minutes of trade on Wednesday, the Dow Jones Industrial Average...

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US Democrats hold narrow Senate majority

A NEWLY re-elected President Barack Obama will once again deal with a divided Congress as Democrats retain control of the US Senate and Republicans kept their solid majority in the House of Representatives. The results of Tuesday's election mean...

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23 people saved, 50 missing off Bangladesh

FISHING boats have helped rescue 23 people after a boat crowded with illegal migrants capsized off Bangladesh's coast, but about 50 people are missing. About 70 illegal migrants, mostly Rohingya Muslims, were reportedly travelling on the boat...

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Obama wins despite lower turnout

A DROP in US voter turnout failed to keep President Barack Obama from winning a second term. Preliminary figures suggest fewer people voted this year than four years ago, when voters shattered turnout records as they elected Obama as the country's...

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Unemployment expected to rise

OFFICIAL data to be released on Thursday is expected to show a rise in unemployment as the mining boom wanes and the manufacturing and retail sectors struggle. An AAP survey of 16 economists shows that the median unemployment rate is expected...

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Granny Obama celebrates in Kenya

WAVING her walking cane and smiling broadly, the step-grandmother of Barack Obama has celebrated along with her fellow villagers. Kogelo, a tiny town where children play soccer in bare feet, was the home of Obama's father, and claims several relatives...

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World leaders hail Obama victory

WORLD leaders have hailed President Barack Obama's sweeping re-election. Congratulations poured in from across the world, including fellow UN Security Council members Britain, China, France and Russia as well as its Middle East ally Israel and...

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