Wall Street Week Ahead: Cliff may be a fear, but debt ceiling much scarier

(Reuters) - Investors fearing a stock market plunge - if the United States tumbles off the "fiscal cliff" next week - may want to relax. But they should be scared if a few weeks later, Washington fails to reach a deal to increase the nation's debt ceiling because that raises the threat of a default, another credit downgrade and a panic in the financial markets. Market strategists...

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Body of India rape victim arrives home in New Delhi

NEW DELHI (Reuters) - The body of a woman whose gang rape provoked protests and rare national debate about violence against women in India arrived back in New Delhi early on Sunday and was quickly cremated at a private ceremony. The unidentified 23-year-old medical student died from her injuries on Saturday, prompting promises of action from a government that has struggled to respond...

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iPad mini met with ‘insatiable’ demand in China

Despite a “soft” launch with few lines and seemingly abundant availability, China is going crazy for the iPad mini according Topeka Capital Markets analyst Brian White. His checks in China and Hong Kong reveal consumers are snapping up iPad minis at rapid rates, causing short supply, even with Apple (AAPL) opening two new retail stores in Hong Kong and three in China. White wrote in a research note...

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Matthew McConaughey & Wife Camila Welcome Baby No. 3

By Elizabeth Leonard 12/28/2012 at 06:10 PM EST Camila and Matthew McConaughey Gary Miller/FilmMagic It's a very merry holiday week for Matthew McConaughey and his wife Camila.The couple welcomed their third child together in Austin, Texas, on Friday, sources...

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Kenya hospital imprisons new mothers with no money

NAIROBI, Kenya (AP) — The director of the Pumwani Maternity Hospital, located in a hardscrabble neighborhood of downtown Nairobi, freely acknowledges what he's accused of: detaining mothers who can't pay their bills. Lazarus Omondi says it's the only way he can keep his medical center running.Two mothers who live in a mud-wall and tin-roof slum a short walk from the maternity hospital, which is affiliated...

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Wall Street ends sour week with fifth straight decline

NEW YORK (Reuters) - Stocks fell for a fifth straight day on Friday, dropping 1 percent and marking the S&P 500's longest losing streak in three months as the federal government edged closer to the "fiscal cliff" with no solution in sight. President Barack Obama and top congressional leaders met at the White House to work on a solution for the draconian debt-reduction measures set...

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Indian gang rape victim dies; protesters defy lock-down

NEW DELHI/SINGAPORE (Reuters) - A woman whose gang rape sparked protests and a national debate about violence against women in India died of her injuries on Saturday, prompting a security lockdown in New Delhi and an acknowledgement from India's prime minister that social change is needed. The six suspects held in connection with the December 16 attack on the 23-year-old medical student...

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Apple loses another copyright lawsuit in China: Xinhua

SHANGHAI (Reuters) – A Chinese court has fined Apple Inc 1 million yuan ($ 160,400) for hosting third-party applications on its App Store that were selling pirated electronic books, the official Xinhua news agency reported on Friday.Apple is to pay compensation to eight Chinese writers and two companies for violating their copyrights, the Beijing No.2 Intermediate People’s Court ruled on Thursday,...

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Gen. Norman Schwarzkopf, Commander in Persian Gulf War, Dies at 78

By Mike Fleeman 12/27/2012 at 08:10 PM EST H. Norman Schwarzkopf, the Army general who commanded coalition forces in the Persian Gulf War against Saddam Hussein, died Thursday in Tampa, Fla., at age 78.The cause of death was not immediately known. His death was confirmed to the Associated Press by a source. Known...

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Kenya hospital imprisons new mothers with no money

NAIROBI, Kenya (AP) — The director of the Pumwani Maternity Hospital, located in a hardscrabble neighborhood of downtown Nairobi, freely acknowledges what he's accused of: detaining mothers who can't pay their bills. Lazarus Omondi says it's the only way he can keep his medical center running.Two mothers who live in a mud-wall and tin-roof slum a short walk from the maternity hospital, which is affiliated...

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