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U.S. Top News Early Edition: Taxes still a stumbling block in debt talks

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07/11/2011
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Taxes still a stumbling block in debt talks
WASHINGTON (Reuters) - After months of effort, President Barack Obama and congressional Republicans are right back where they started as they try to avert a looming debt default: arguing over taxes. | Full Article
Murdoch under pressure to reconsider British bid
July 11, 2011 09:06 AM ET
LONDON (Reuters) - Britain was looking for a way out of approving media baron Rupert Murdoch's multi-billion dollar deal to buy broadcaster BSkyB amid a phone-hacking scandal that has damaged the prime minister and raised broader questions about politicians' relations with the media. | Full Article
Greece, Italy top agenda at EU finance chiefs meeting
July 11, 2011 09:30 AM ET
BRUSSELS (Reuters) - EU finance officials will discuss a range of options for Greece's intractable debt crisis on Monday, galvanized by the growing threat of contagion to Italy, the euro zone's third-largest economy. | Full Article
AIG may replace banks in next share offer
July 11, 2011 08:06 AM ET
PHILADELPHIA (Reuters) - American International Group plans to replace one or more Wall Street banks in its next sale of shares from the U.S. government, The Wall Street Journal reported on Sunday. | Full Article
China raps U.S. over military drills in disputed seas
July 11, 2011 07:09 AM ET
BEIJING (Reuters) - China's military sharply criticized the United States on Monday for holding military drills in contested waters of the South China Sea, a dispute Beijing has warned Washington not to meddle in. | Full Article
BUSINESS NEWS
Wall Street to open lower on global financial fears
July 11, 2011 08:57 AM ET
NEW YORK (Reuters) - Wall Street was set to skid more than 1 percent at the open on Monday as renewed jitters about Europe's debt crisis and the global economy overshadowed the start of earnings season. | Full Article
TRW receives subpoena from Department of Justice
July 11, 2011 09:26 AM ET
Bangalore (Reuters) - Auto parts maker TRW Automotive Holdings Corp said it received a subpoena from the U.S. Department of Justice regarding an antitrust investigation. | Full Article
Airbus, Boeing compete over American Airlines order: report
July 11, 2011 06:29 AM ET
BANGALORE (Reuters) - European aircraft builder Airbus aims to win a large plane order from AMR Corp's American Airlines by offering $6 billion in preferential financing to woo the American carrier away from rival Boeing , according to the Wall Street Journal. | Full Article
German watchdog would examine any Gazprom-RWE deal
July 11, 2011 08:47 AM ET
FRANKFURT/DUESSELDORF (Reuters) - Germany's cartel office said on Monday it would "closely" examine any investment by Gazprom in RWE after reports the weakened German utility was open to an investment by the Russian gas monopoly. | Full Article
Nelnet buys residual interest in federal student loan
July 11, 2011 08:38 AM ET
(Reuters) - Nelnet said it bought a residual interest in $1.9 billion of federal student loan from an affiliate of Greystone & Co Inc. | Full Article
HEALTH NEWS
Scientists find first superbug strain of gonorrhea
Folic acid tied to better grades in Swedish teens
Officials confirm Arizona death tied to E. coli epidemic
Ketamine abuse may lead to bladder damage, pain
Vitamin D may improve pancreas function
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Debt Talks Still Deadlocked; Glenn Beck in Israel; Radicals Target US Military


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Obama Faces United GOP Front as Debt Talks Stall

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Politics News & Analysis: Debt talks at a stalemate

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The Washington PostMonday, July 11, 2011
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WASHINGTON - JULY 10:  From left House Minority Leader Nancy Pelosi (D-CA), Speaker of the House John Boehner (R-OH), President Barack Obama, Senate Majority Leader Senator Harry Reid (D-NV) and Senate Minority Leader Senator Mitch McConnell (R-KY) sit before a meeting in the Cabinet Room of the White House July 10, 2011 in Washington, DC.  President Obama met with Speaker of the House John Boehner (R-OH), Senate Majority Leader Senator Harry Reid (D-NV)  and other Congressional leaders to negotiate increasing the United States's debt ceiling in order to avoid the nation defaulting on its debt.  (Photo by Brendan Smialowski/Getty Images)

Debt talks at a stalemate

Both sides appeared Sunday to dig further into their positions, leaving the talks deadlocked, a historic default looming and a fragile economy increasingly vulnerable to the consequences of Washington's entrenched partisanship and ideological divide over taxes and entitlements.

Behind the showdown

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