Gunmen kidnap seven Pakistani soldiers

ISLAMABAD (Reuters) - Gunmen kidnapped seven soldiers from a bus in Pakistan on Wednesday, military officials said, just days after Taliban forces executed 21 pro-government paramilitaries they had seized.The gunmen took the seven soldiers and let go a sweeper on the bus with them, one military official said. The gunmen were wearing military uniforms, other sources said.The men were travelling between...

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Former Chilean military officials held in singer's 1973 slaying

At least four former military officials were detained in Chile on Wednesday for their alleged role in the slaying of singer-songwriter Victor Jara during the dictatorship of General Augusto Pinochet.Jara was killed days after the coup that ousted left-leaning President Salvador Allende, and his death became a symbol of the political violence and human rights abuses that ravaged Latin America in the...

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Stocks struggle for direction as 'cliff' nears

 With the "fiscal cliff" just hours away and politicians yet to reach a solution, the stock market struggled to decide which way to go.The Dow Jones industrial average hopped between small gains and losses in morning trading. The Standard & Poor's 500 index and the Nasdaq composite dipped into the red but spent most of the morning holding onto small gains.Many investors are unsure of what...

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CIBC to pay $149.5 million to Lehman, ending dispute

Canadian Imperial Bank of Commerce has agreed to pay $149.5 million to the estate of Lehman Brothers Holdings Inc to resolve litigation over a collateralized debt obligation tied to the bankruptcy of the former Wall Street bank.The settlement announced Monday resolves litigation that began on September 14, 2010, when Lehman sued CIBC and dozens of others to recover more than $3 billion it said it...

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Stocks turn up on hints of 'fiscal cliff' deal

 The stock market shot higher on Monday afternoon, in the year's final hour of trading, signaling that investors believe the politicians in Washington will work out a budget compromise to avoid the "fiscal cliff."The Dow was up 137 to 13,075 in the late afternoon, more than 1 percent. The Standard & Poor's 500 and the Nasdaq composite were up by more, with the Nasdaq rising nearly 2 percent.It...

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Global shares up on hopes U.S. to avoid 'fiscal cliff'

 Wall Street rallied on Monday and global equities headed for their best year in the last three as U.S. lawmakers closed in on a deal to avoid a budget crisis that many fear could cripple the world economy in 2013.U.S. President Barack Obama said Congress was close to an agreement that would start chipping away at the deficit without raising middle class taxes.Senate Republican leader Mitch McConnell...

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Equities rally as U.S. 'cliff' deal nears; oil up

 Wall Street rallied on Monday and global equities finished their best year in the last three as U.S. lawmakers closed in on a deal to avoid a budget crisis that many fear could cripple the world economy in 2013.U.S. President Barack Obama said Congress was close to an agreement that would start chipping away at the deficit without raising middle-class taxes.Senate Republican leader Mitch McConnell...

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