UK plans to ban "excessive" credit card surcharges (Reuters)

LONDON (Reuters) ? Britain said Friday it plans to ban companies from making their customers pay excessive credit and debit card surcharges when buying flights and other services.

Firms will be allowed to add just a small charge to cover their actual costs.

Payment surcharges are especially prevalent in the airline sector, where Britain's Office of Fair Trading (OFT) has estimated that British consumers spent 300 million pounds ($470 million) on such fees in 2009.

"We want to make sure that consumers paying by card do not have to pay excessively high surcharges being imposed on them by some airlines and other businesses," consumer minister Edward Davey said in a statement.

The ban will apply to most retail sectors, not just the transport sector.

The European Union Consumer Rights Directive will ban businesses in many sectors, including airlines, from imposing above-cost surcharges on payments from mid-2014.

The British government plans to consult on implementing this provision of the directive early, with the goal of banning above-cost surcharges by the end of 2012.

"We need to consult to get those rules right. We need to make sure the right process is in place to help consumers challenge companies that levy excessive surcharges and we need to give business some time to get their systems ready," Treasury minister Mark Hoban told the BBC.

Irish airline Ryanair (RYA.I) said its 6 pounds booking administration charge did not apply to all cards.

"I would not expect the rules to affect us as we don't impose any debit or credit card fees. Our administration charge can be avoided using certain types of cards," said Ryanair spokesman Stephen McNamara.

In June, the OFT called for the law to be updated to stop surcharges on debit card payments after consumer group Which? asked it to investigate.

Which? said card surcharges were often sprung on the customer at the point of payment and could be much higher than the retailers' costs in processing the transaction.

The consumer group singled out low-cost airlines, such as Ryanair and Britain's Flybe (FLYB.L) and easyJet (EZJ.L), who it said charge fees per passenger, per leg of a journey, even though they only have to process one transaction.

EasyJet declined comment and Flybe did not immediately respond to requests for comment.

Which? said excessive charges were also spreading among cinemas and hotels.

The UK Cards Association, representing the debit and credit card industry, called the government's move "a terrific Christmas gift for consumers."

"The UK Cards Association fully supported Which? on this issue and we're delighted that the Treasury has decided to bring into line those few businesses who have been excessively charging us all for using our cards," it said.

(Reporting by Adrian Croft, Paul Sandle, Sudip Kar-Gupta, Conor Humphries; Editing by Hans-Juergen Peters)

Source: http://us.rd.yahoo.com/dailynews/rss/britain/*http%3A//news.yahoo.com/s/nm/20111223/bs_nm/us_britain_charges

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Where's the spectrum? This map will show you

We'll admit, trying to decipher wireless spectrum can be a frustrating and exhausting process. Who owns what, and where? Fortunately, Anthony Fiti of Spectrum Omega has put together a Rosetta Stone Google Map indicating how much spectrum each carrier owns in the lower 48 states, the frequencies they own and where it's all located. While it's by no means 100 percent accurate due to various complexities in how some spectrum is shared between carriers, and there's no promise of it being continually updated yet, it's still the most comprehensive visual guide we've seen outside of the FCC site. If you're curious as to who's got the spectrum in your neck of the woods, take a peek at the source link below and have a look around.

[Thanks, Jeff]

Where's the spectrum? This map will show you originally appeared on Engadget on Wed, 21 Dec 2011 15:27:00 EDT. Please see our terms for use of feeds.

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Source: http://feeds.engadget.com/~r/weblogsinc/engadget/~3/rYE5PdlOO8Q/

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IMF chief warns Africa about Europe fallout

Many countries in sub-Saharan African are less prepared to deal with an economic shock now than they were during the 2008 food and fuel crisis and the global financial turmoil that followed, IMF chief Christine Lagarde said on Wednesday, urging developing nations to build up their economic defences.

More related to this story

Ms. Lagarde was speaking during a trip to Niger, one of the world?s poorest countries and Africa?s newest crude oil producer, during which she met President Mahamadou Issoufou and praised his development plans.

Ms. Lagarde?s Dec. 18-22 trip to Africa, which also included a visit to OPEC-member Nigeria, comes as concerns grow over the impact on developing countries of Europe?s sovereign debt crisis through a possible drop in global trade, workers? remittances and investment.

She said many African countries were able to weather the 2008 and 2009 economic shocks well, maintaining health, education and infrastructure spending and recovering quickly to growth rates enjoyed in the mid-2000s.

?In short, they built up macroeconomic buffers and put their economies on a fundamentally stronger footing. This enabled most countries to maintain critical social and infrastructure spending when the crisis hit,? Ms. Lagarde said in a speech to Niger?s National Assembly.

?But, for many countries in the region, my main worry is that their capacity to absorb further shocks is less than it was three years ago,? she added. ?This would be even greater cause for concern if the global slowdown turns out to be more pronounced this time around.?

She said a sustained growth slowdown in advanced countries could cut into demand for Africa?s exports.

?It may also inhibit private financing flows, remittances, and possibly aid. This is not a welcome thought for Niger. Aid flows are important and remittances have already been disrupted by the upheaval in Libya,? she said.

Ms. Lagarde said Niger, a top uranium supplier to former colonial master France and which began pumping oil earlier this year, could use its resource revenues to ?promote more broad-based and inclusive growth? but needed to avoid pitfalls suffered by many other countries.

?There is the hard truth that relatively few countries have managed natural resource wealth well. Although, Niger has an advantage. You can benefit from the experiences of others,? said Ms. Lagarde, a former French finance minister.

She said Niger needed to ensure transparency, invest its revenues wisely, and diversify its economy to avoid the shocks associated with volatile commodities markets.

Source: http://www.theglobeandmail.com/report-on-business/international-news/imf-chief-warns-africa-about-europe-fallout/article2279525/?utm_medium=Feeds:%20RSS/Atom&utm_source=Globe%20Investor&utm_content=2279525

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Text Messages Bring Out The Liar In All of Us [Science]

Next time your date cancels by SMS, be suspicious. Because a new study suggests that people lie more often when they communicate by text compared to face-to-face conversations or speaking on the phone. More »


Source: http://feeds.gawker.com/~r/gizmodo/full/~3/yd66Ad52I7U/text-messages-bring-out-the-liar-in-all-of-us

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Unemployment Benefits Extension: Some Would Lose Aid Under Senate's Payroll Tax Deal

WASHINGTON -- A breakthrough deal between the White House and party leaders in the U.S. Senate would preserve federal unemployment insurance programs through February. The agreement would prevent more than 1 million jobless from missing out on federal unemployment compensation in the first two months of 2012, but people in 11 states would nevertheless lose benefits during that time.

The deal would reauthorize two federal programs that provide benefits for people who use up the standard 26 weeks of benefits provided by most states. The first program, called Emergency Unemployment Compensation, lasts for 53 weeks. Then the Extended Benefits program adds in up to 20 additional weeks, but only in states where the unemployment rate has risen significantly over the past three years.

Even though the jobs situation is almost as dire as ever, it hasn't worsened much from three years ago, so Extended Benefits, even if it is reauthorized, would begin to phase out unless Congress changes the way the program is triggered. In November, Democrats in both chambers of Congress introduced bills that would have allowed states to change their "look back" periods to encompass four years instead of three. But as Republicans have pointed out, the White House supports letting the program shrivel up next year.

Due to the timing of increased joblessness, in January, the program will expire in Minnesota, Michigan, Massachusetts, Maine, Oregon and Indiana. In February, Extended Benefits will drop off in Wisconsin, Tennessee, South Carolina, Rhode Island, and Ohio, according to an analysis by worker advocacy group the National Employment Law Project.

"This is a result of the complete unwillingness of Republicans to ask the very wealthy to sacrifice some of their tax breaks to help get our economy back on a more stable footing," Rep. Sander Levin (D-Mich.), top Democrat on the committee that oversees unemployment insurance in the House of Representatives, said in a Saturday statement. "At every turn, whether it is jobs legislation or deficit reduction, the consistent priority of the Republican majority is protecting the tax cuts for millionaires and billionaires."

The House still has to approve the bill that cleared the Senate on Saturday. Sanders did not say in his statement whether he would oppose the measure, and his spokesman did not immediately respond to an inquiry from The Huffington Post.

Initially, the "look back" period for Extended Benefits was just two years. Faced with the same situation last December, Congress stretched it to three years so people would not lose benefits.

The unemployment extensions are part of a broader package of legislation that would also preserve a payroll tax cut, prevent reduced reimbursement for doctors who see Medicare patients, and force the White House to act on a controversial oil pipeline.

HuffPost readers: Worried you'll stop receiving Extended Benefits in January or February? Tell us about it -- email arthur@huffingtonpost.com. Please include your phone number if you're willing to do an interview.

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Source: http://www.huffingtonpost.com/2011/12/17/unemployment-benefits-extension-payroll-tax-deal_n_1155511.html

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Jimmy Fallon Host?s SNL Tonight Preview Videos

Funnyman Jimmy Fallon is going back to his roots, his Saturday Night Live roots that is. He is set to host tonight?s brand new episode and you can get a glimpse of what to expect right here with a couple of fabulous preview videos, woohoo! There is a very special brand new special of SNL tonight and I don?t just mean because it is the holiday episode. Nope I am talking about the fact that Jimmy Fallon will host the show along with the awesome musical guest Michael Bubl?! It is a given that when Jimmy is around things are going to get funny and I mean that in a good way. Just to give you a little bit of an idea of what I am talking about check out the below promo video. That was just a sneak peek at what fans of the hit show are in for tonight. Doesn?t it just make you super excited for this evening? Something tells me given how much Fallon loves to sing there is going to be a lot of musical numbers in this show. I am all for it. I feel like Michael and Jimmy are the perfect fit for [...]

Source: http://feedproxy.google.com/~r/RightCelebrity/~3/npkvj0wzi1U/

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Is falling US marriage rate a bad thing? Some find positives in the data.

The portion of US adults who are married has hit a record low, barely half, which experts say bodes ill for child-rearing. But many see positives in the latest data and say the institution is not imperiled.

Barely half of US adults are currently married, a record low, and the continuing downward trend will result in less than half being married in just a few years, according to a study released Wednesday by the Pew Research Institute.

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While the study did not examine reasons for the trend, several sociologists, cultural anthropologists, and others caution against judging the statistics superficially. They agree with the findings that many, non-romantic factors are at work ? from economics to education and expanding the definition of marriage to merely delaying it ? but say it would be incorrect to conclude that the institution is completely on the rocks.

Others say the decline of two-parent families with stable relationships bodes ill because it leads children to perform poorly at school, enter lives of drugs and crime, and have trouble with relationships throughout life.

?The Pew data provoke alarmist reactions among the family-values crowd who conclude erroneously that marriage?is imperiled,? says Dr. Ben Agger, director of the Center for Theory at the University of Texas, Arlington?s Sociology department.

What is happening in American households, he says, is that people are delaying marriage until their mid- to late-20s, and there are increasing numbers of elderly people, especially women, who live alone because their spouses have died.

?People delay marriage because they are getting educated and establishing careers and economic independence,? he says.??These facts alone drive down the marriage rate.?But they should not lead to the conclusion that people don?t want to get married or actually get married.?They do.?

Other key findings from the Pew study include:

? The decline in the number of newly married adults ? from 4.4 million in 2009 to 4.2 million in 2010 ? was shared by all age groups but was especially sharp for the youngest adults.

? The decline in the proportion of currently married adults is most dramatic for the young. Only 9 percent of adults ages 18-24 were married in 2010, compared with 45 percent in 1960.

? The proportions currently married diverge notably by racial and ethnic group. More than half (55 percent) of whites are married, a decline from 74 percent in 1960. Among Hispanics 48 percent are married, compared with 72 percent in 1960. Among blacks, only 31 percent are married, compared with 61 percent in 1960.

Shmuley Boteach, a rabbi and television host and author of several books about marriage, says the trend is very troubling. He says it might be the outgrowth of much that is wrong with a capitalist, materialistic society.

Source: http://rss.csmonitor.com/~r/feeds/csm/~3/YCE6GEN75J8/Is-falling-US-marriage-rate-a-bad-thing-Some-find-positives-in-the-data

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Democrats mull dropping millionaire surtax (Reuters)

WASHINGTON (Reuters) ? President Barack Obama and fellow Democrats on Wednesday signaled a willingness to drop a proposed surtax on millionaires, but remained at odds with Republicans in efforts to extend an expiring payroll tax cut for 160 million Americans.

Obama discussed abandoning the surtax, which Republicans have denounced as a levy on "job creators," at a meeting with Senate Majority Leader Harry Reid and other top Senate Democrats at the White House, party aides said.

One aide said Democrats have not offered to drop the surtax, but have made it clear to Republicans that they are willing to do so to renew the tax cut set to expire on December 31.

"We made a significant step in their direction, but Republicans don't seem to care whether a tax increase for the middle class is prevented -- so we remain at a standoff," the aide said. "They are not negotiating."

The tough talk comes amid an end-of-year rush in Congress to find deals on major initiatives beyond the payroll tax cut extension, including one to extend benefits for millions of long-term jobless Americans. Those government payments would begin expiring early next year.

Democrats and Republicans are also fighting over a nearly $1 trillion spending bill to keep several government agencies operating through the fiscal year that ends on September 30.

Without action by Friday at midnight, agencies that deliver health, education, defense, homeland security and other services would have to close, further eroding sagging public confidence in members of Congress who face re-election next year.

Given the lack of progress, the White House called on Congress to pass a short-term funding measure to avert a shutdown. It was not yet clear if lawmakers will comply.

Without elaborating, House Republican Leader Eric Cantor told reporters, "We intend to act to make sure that we don't allow for there to be a shutdown."

But many lawmakers are frustrated with the political gridlock that has plagued a sharply-divided Congress all year.

"That is the kind of stuff that is driving the American people bat crazy right now," said Democratic Senator Claire McCaskill.

PROGRESS UNCLEAR

Without action by the end of this month, the payroll tax would revert to 6.2 percent from the current 4.2 percent, resulting in an average increase of $1,000 per family. Independent economists have warned that could hurt the country's fragile economic recovery.

Any setback for the economy would hurt Obama's re-election chances next November, as he is already struggling in the polls because of voter frustration with high unemployment.

Many Republicans initially were cool to renewing the payroll tax cut, questioning its effectiveness in stimulating a weak economy. But their leaders eventually embraced it as they also looked for ways to attach new job-creation measures.

Democrats have proposed a 1.9 percent surtax on income over $1 million annually to help cover the $120 billion cost of extending the workers' payroll tax cut for another year. Republicans instead favor extending a pay freeze on federal workers, cutting their pensions and other savings.

Senate Republican Leader Mitch McConnell brushed off the importance of the surtax possibly being dropped.

"They're not giving up a whole lot," McConnell told CNBC, noting that there was no chance the surtax would be approved by the House or Senate.

"So I don't know how far we're down the path toward making an agreement," McConnell said.

Still unclear was whether the payroll tax cut extension can be completed this week as leaders had hoped or if lawmakers would have to delay the start of their holiday break.

A possible tradeoffs for dropping the millionaire surtax could be Republicans backing off their demands to reduce jobless benefits and tighten Medicare eligibility.

The surtax proposal has been seen as the Democrats' main bargaining chip, one they might be willing to give up if Republicans abandoned an effort to speed up a decision by Obama on the Keystone XL oil pipeline project between the United States and Canada.

But there could be other sticking points.

The costs of a compromise payroll tax cut extension and unemployment insurance extension could be covered by cutting pension benefits for federal workers and auctioning more broadcast airwaves controlled by the government.

Lawmakers from both parties also have discussed raising fees investors pay for mortgage transactions involving government sponsored agencies Fannie Mae and Freddie Mac. And there have been discussions about using some savings from winding down the wars in Iraq and Afghanistan.

The Republican-controlled House passed its version of a payroll tax cut bill on Tuesday. It included the provision, opposed by the White House, aimed at accelerating approval of the Keystone project.

Senate Democrats have been trying to vote on the House measure - so it can be defeated and thus clear the way for a new round of negotiations - but Republican leaders have so far blocked that move.

(Additional reporting by Matt Spetalnick, Rachelle Younglai and Caren Bohan; writing by Ross Colvin; editing by Anthony Boadle)

Source: http://us.rd.yahoo.com/dailynews/rss/obama/*http%3A//news.yahoo.com/s/nm/20111215/ts_nm/us_usa_taxes

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