Spain’s Chinese Immigrants Thrive in Tough Economy







BARCELONA, Spain — When Jiajia Wang’s parents first moved to Barcelona from China in the 1990s, they had no working papers and spoke no Spanish. The family ate eggs to survive. Her mother and father worked 12-hour days at a Chinese restaurant.




After five years, they bought a restaurant of their own with money borrowed from relatives, interest-free. She and her brother washed the dishes. Her parents slept on a mattress in the bathroom of their cramped apartment so that the children could study at night in the other room.


Today, while Spanish youth unemployment hovers around 50 percent, Ms. Wang, 24, who studied economics at Harvard on a one-year fellowship, juggles four jobs: teaching Mandarin, advising Chinese investors in Spain, running a publishing house and writing romantic novels. She sends home €1,000, or about $1,300, a month to support her parents, who retired last year.


Her family’s story is telling of the ways many of Spain’s 170,000 Chinese immigrants have managed not only to weather a tough economy but even to thrive, aided by intense labor and a strong Confucian model of family loyalty, while joblessness and cuts to government services have left other Spaniards struggling.


“The Chinese family is less dependent on the government because the family is the welfare state, the bank and social services, all wrapped in one,” Ms. Wang said.


“For Chinese people who lived through hardship back home,” she added, “working 16-hour days is nothing, and that has made us more resilient during the crisis.”


The Spanish government itself seems to have recognized the importance of this success. So determined is it to attract Chinese immigrants that in November it passed a law offering residency permits to foreigners who buy homes worth more than €160,000, with the specific aim of drawing Chinese and Russian investment, lawmakers said.


As hard-hit Spaniards struggle to keep both their jobs and their homes, Spain’s Chinese immigrants in Barcelona and Madrid are starting businesses and buying distressed properties from the bursting of Spain’s housing bubble.


Of the 8,613 foreigners who started businesses in the past 10 months, 30 percent, or 2,569 were Chinese, according to the National Federation of Self-Employed Workers.


InfoChina Gestión, a real estate company based in Madrid that focuses on Chinese investors, said the number of houses sold for €70,000 to €100,000 to Chinese nearly doubled last year, to 813. Mr. House, a real estate company in Madrid, said it was selling at least 10 houses a month to Chinese, a majority of whom paid at least 80 percent in cash.


The types of work many Chinese immigrants gravitate toward helps explain their success as much as their work ethic. In a time of economic crisis, ubiquitous low-margin Chinese-owned bazaars, hairdressers and supermarkets have become a lure for cost-conscious Spanish consumers.


“If it wasn’t for the Chinese shops, it would be harder to scrape by,” said Ester Maduerga, 30, a saleswoman at a sports shoe store, as she scanned the notepads, leather belts and plastic alligators at One Hundred and More, a Chinese-owned bazaar here.


Xi Li He, 26, the bazaar’s manager and cashier, said the business was flourishing, in part because he had reduced prices by importing inexpensive goods from China. When Mr. Xi, fresh from business school, tried to take a job at a large Spanish retailer, he said his mother doubled his salary.


That kind of success by Chinese immigrants has provided a beachhead of sorts for further investment from China that has pumped some life into an otherwise moribund Spanish economy.


Before Spain’s crisis exploded in 2008, Chinese foreign investment in Spain was negligible. By last year, it had grown to €70 million, according to ICEX, a government investment agency.


Ivana Casaburi, a professor of international marketing at Esade business school in Barcelona, said Chinese companies were being drawn to Spain because it offered a low-cost gateway to the European Union, the world’s biggest trading bloc.


Isla Ramos Chaves, an executive at the Chinese computer maker Lenovo, said that even with the crisis, Spain — the fourth-largest economy in the euro zone — remained a market that Chinese companies were eager to tap. She added that Chinese multinationals in Spain were proving robust, in part because they were anchored by a huge domestic market back home.


Executives at Haier, the Chinese-owned appliance maker, said the economic crisis, rather than being a deterrent, had provided an opportunity, as Spaniards were willing to consider competitively priced washing machines and air-conditioners, even if their brands were less well known.


“I am not sure we would have been as successful if the market was stable and growing,” said Santiago Belenguer, the general manager of Haier’s Spanish operations.


The success of Chinese newcomers to Spain has not spawned the kind of anti-immigrant backlash seen in some hard-pressed parts of Europe like Greece. Immigration experts said Spain’s relatively welcoming attitude reflected its new openness after the repression of the Franco years, when the country was a nation of emigration. Since the crisis, the return of thousands of Latin American immigrants to their home countries from Spain has also relieved pressure on the work force.


That does not mean everyone has championed the success of the Chinese, and some complain of stereotyping and being targeted by law enforcement.


In October, the police arrested 80 people in a nationwide crackdown on Chinese criminal gangs engaged in money-laundering and tax evasion. The police said the low price of Chinese products was being abetted by some importers not declaring shipments from China, thereby avoiding taxes.


Here in Barcelona, José Rodríguez, the owner of A Porta Galega, a traditional tapas cafe in the hip neighborhood of Eixample, said cut-rate prices for everything from beer to shampoo at Chinese-owned shops made it impossible for Spaniards to compete. At least a dozen Chinese-owned tapas bars are scattered along his block.


Still, he added, he would sell his own restaurant to Chinese buyers, “for the right price.”


Silvia Taulés contributed reporting.


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Judge rejects part of Apple App Store suit vs Amazon






SAN FRANCISCO (Reuters) – A U.S. judge on Wednesday rejected part of Apple Inc‘s lawsuit against Amazon.com Inc‘s use of the term App Store, ruling Apple cannot bring a false advertising claim against the online retailer.


U.S. District Judge Phyllis Hamilton in Oakland, California, granted Amazon‘s motion for partial summary judgment, which only challenged Apple’s false advertising allegations. Apple leveled other claims against Amazon, including trademark infringement.






An Apple spokeswoman declined to comment, and an Amazon representative could not be reached immediately.


Amazon has stepped up competition against Apple in recent years, launching its cheaper Kindle tablet computer to go after the dominant iPad and trying to lure mobile application developers to its Kindle platform.


One of the first public clashes in their tussle was Apple’s 2011 lawsuit.


Apple accused Amazon of misusing what it calls its APP STORE to solicit developers for a mobile software download service. However, Amazon said its so-called Appstore has become so generic that its use could not constitute false advertising.


In a legal filing last year, Amazon added that even Apple Chief Executive Tim Cook and his predecessor, Steve Jobs, used the term to discuss rivals. Cook commented on “the number of app stores out there” and Jobs referred to the “four app stores on Android.”


In her ruling on Wednesday, Hamilton wrote that the mere use of “Appstore” by Amazon cannot be taken as a representation that its service is the same as Apple’s.


“Apple has failed to establish that Amazon made any false statement (express or implied) of fact that actually deceived or had the tendency to deceive a substantial segment of its audience,” Hamilton wrote.


A trial on Apple’s remaining claims is scheduled for August.


The case is Apple Inc v. Amazon.com Inc et al, U.S. District Court, Northern District of California, No. 11-01327.


(Additional reporting by Alistair Barr in San Francisco; Editing by Tim Dobbyn and Jeffrey Benkoe)


Internet News Headlines – Yahoo! News





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Jennie Garth Wants to Date a Man with 'Positive Energy'















01/02/2013 at 07:10 PM EST



When it comes to her current love life, Jennie Garth has a new mantra.

"I'm learning to date again," the actress, who split from husband Peter Facinelli in March 2012, tells Health in its January issue, "[and] looks aren't important to me anymore. ... I like positive energy."

The actress, who dropped 30 lbs. last year, plans to keep her health a priority in 2013.

"Every day, I just renew my healthy choices," she says. "I feel really good about myself now, and I don't want to do anything to change that."

That means avoiding trendy diets or weight-loss gimmicks.

"My biggest regret is putting my body through fad diets: Atkins, cleanses, the hCG diet," Garth, 40, says. "I lost like 18 lbs., but it came right back. The worst was fasting with colonics for three or four days. It was the most horrifying experience ever."

In addition to her body, Garth says she's trying to maintain a positive outlook, even when times are tough.

"When I'm in excruciating pain, like with what I've been through with my breakup and that grief and loss that's just immobilizing, it helps to remember that it only lasts for 13 to 15 minutes, max," she tells Health. "And then it's over."

"Your mind is ready to go to something else," Garth continues. "You might come back to it, but it helps to just know that that pain is not going to last forever."

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Brain image study: Fructose may spur overeating


This is your brain on sugar — for real. Scientists have used imaging tests to show for the first time that fructose, a sugar that saturates the American diet, can trigger brain changes that may lead to overeating.


After drinking a fructose beverage, the brain doesn't register the feeling of being full as it does when simple glucose is consumed, researchers found.


It's a small study and does not prove that fructose or its relative, high-fructose corn syrup, can cause obesity, but experts say it adds evidence they may play a role. These sugars often are added to processed foods and beverages, and consumption has risen dramatically since the 1970s along with obesity. A third of U.S. children and teens and more than two-thirds of adults are obese or overweight.


All sugars are not equal — even though they contain the same amount of calories — because they are metabolized differently in the body. Table sugar is sucrose, which is half fructose, half glucose. High-fructose corn syrup is 55 percent fructose and 45 percent glucose. Some nutrition experts say this sweetener may pose special risks, but others and the industry reject that claim. And doctors say we eat too much sugar in all forms.


For the study, scientists used magnetic resonance imaging, or MRI, scans to track blood flow in the brain in 20 young, normal-weight people before and after they had drinks containing glucose or fructose in two sessions several weeks apart.


Scans showed that drinking glucose "turns off or suppresses the activity of areas of the brain that are critical for reward and desire for food," said one study leader, Yale University endocrinologist Dr. Robert Sherwin. With fructose, "we don't see those changes," he said. "As a result, the desire to eat continues — it isn't turned off."


What's convincing, said Dr. Jonathan Purnell, an endocrinologist at Oregon Health & Science University, is that the imaging results mirrored how hungry the people said they felt, as well as what earlier studies found in animals.


"It implies that fructose, at least with regards to promoting food intake and weight gain, is a bad actor compared to glucose," said Purnell. He wrote a commentary that appears with the federally funded study in Wednesday's Journal of the American Medical Association.


Researchers now are testing obese people to see if they react the same way to fructose and glucose as the normal-weight people in this study did.


What to do? Cook more at home and limit processed foods containing fructose and high-fructose corn syrup, Purnell suggested. "Try to avoid the sugar-sweetened beverages. It doesn't mean you can't ever have them," but control their size and how often they are consumed, he said.


A second study in the journal suggests that only severe obesity carries a high death risk — and that a few extra pounds might even provide a survival advantage. However, independent experts say the methods are too flawed to make those claims.


The study comes from a federal researcher who drew controversy in 2005 with a report that found thin and normal-weight people had a slightly higher risk of death than those who were overweight. Many experts criticized that work, saying the researcher — Katherine Flegal of the Centers for Disease Control and Prevention — painted a misleading picture by including smokers and people with health problems ranging from cancer to heart disease. Those people tend to weigh less and therefore make pudgy people look healthy by comparison.


Flegal's new analysis bolsters her original one, by assessing nearly 100 other studies covering almost 2.9 million people around the world. She again concludes that very obese people had the highest risk of death but that overweight people had a 6 percent lower mortality rate than thinner people. She also concludes that mildly obese people had a death risk similar to that of normal-weight people.


Critics again have focused on her methods. This time, she included people too thin to fit what some consider to be normal weight, which could have taken in people emaciated by cancer or other diseases, as well as smokers with elevated risks of heart disease and cancer.


"Some portion of those thin people are actually sick, and sick people tend to die sooner," said Donald Berry, a biostatistician at the University of Texas MD Anderson Cancer Center in Houston.


The problems created by the study's inclusion of smokers and people with pre-existing illness "cannot be ignored," said Susan Gapstur, vice president of epidemiology for the American Cancer Society.


A third critic, Dr. Walter Willett of the Harvard School of Public Health, was blunter: "This is an even greater pile of rubbish" than the 2005 study, he said. Willett and others have done research since the 2005 study that found higher death risks from being overweight or obese.


Flegal defended her work. She noted that she used standard categories for weight classes. She said statistical adjustments were made for smokers, who were included to give a more real-world sample. She also said study participants were not in hospitals or hospices, making it unlikely that large numbers of sick people skewed the results.


"We still have to learn about obesity, including how best to measure it," Flegal's boss, CDC Director Dr. Thomas Frieden, said in a written statement. "However, it's clear that being obese is not healthy - it increases the risk of diabetes, heart disease, cancer, and many other health problems. Small, sustainable increases in physical activity and improvements in nutrition can lead to significant health improvements."


___


Online:


Obesity info: http://www.cdc.gov/obesity/data/trends.html


___


Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP


Mike Stobbe can be followed at http://twitter.com/MikeStobbe


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Asia stocks at five-month high as fiscal cliff crisis ends

HONG KONG (Reuters) - Asian stocks hit a five-month high and the dollar fell as a last-minute deal ended the U.S. "fiscal cliff" crisis that threatened a U.S. recession and roiled world financial markets.


The U.S. Congress approved a rare tax increase on Tuesday that will hit the nation's wealthiest households in a bipartisan budget deal that stops the world's largest economy from falling into recession.


Early on Tuesday the U.S. Senate passed a bill that aims to avoid the cliff's automatic implementation of $600 billion in spending cuts and tax increases.


The bill's passage in Congress allayed earlier concerns over complaints from a number of Republicans that spending cuts were still not adequately addressed.


Asian stock markets cheered the developments as a major risk for investors, namely a slump in global growth, appeared to have receded for now.


The MSCI Asia Pacific ex-Japan index of stocks <.miapj0000pus> jumped 1.7 percent. Chinese shares in Hong Kong <.hsce> jumped 2.9 percent as last month's rally spilled over into the new year.


"If the fog caused by the fiscal cliff disappears, there will probably be moves toward putting risk back on," said Satoshi Okagawa, senior global markets analyst for Sumitomo Mitsui Banking Corporation in Singapore.


In South Korea, where data showed manufacturing activity rose for the first time in seven months in December, the KOSPI index <.ks11> was up 1.5 percent.


Asian stocks outside Japan rose nearly 20 percent last year as a combination of improving economic data from China, easing worries about a euro zone blow-up, and global central bank easing that encouraged investors back into equity markets.


Sakthi Siva, Asia strategist for Credit Suisse, said in a note to clients that 2013 could see similar returns for Asian equities, given a solution to the fiscal crisis.


"As we move into 2013 we retain our bullish bias, and our theme is whether markets could catch up with earnings," said Siva, adding that markets in China and India could offer the most upside given the mismatch between index levels and earnings expectations.


OIL, EURO UP


Risky assets across the board got a lift with crude oil futures up 0.8 percent and copper futures in London jumping 1.7 percent.


The euro rose to $1.3267 against the U.S. dollar.


The safe-haven U.S. dollar edged lower, falling 0.4 percent against a basket of major currencies <.dxy>.


The Australian dollar, a currency that tends to benefit when optimism about the outlook for the global economy increases, rose to $1.0470.


The Japanese yen continued its slide as investors wagered the Bank of Japan would have to take ever-more aggressive easing steps to support the economy and satisfy the new government.


The yen fell to 87.17 against the dollar to its weakest level since July 2010.


The Japanese currency also dropped to depths not seen in more than four years against the Australian and New Zealand dollars.


(Additional reporting by Wayne Cole in SYDNEY and Masayuki Kitano in SINGAPORE; Editing by Eric Meijer)



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Used to Hardship, Latvia Accepts Austerity, and Its Pain Eases





RIGA, Latvia — When a credit-fueled economic boom turned to bust in this tiny Baltic nation in 2008, Didzis Krumins, who ran a small architectural company, fired his staff one by one and then shut down the business. He watched in dismay as Latvia’s misery deepened under a harsh austerity drive that scythed wages, jobs and state financing for schools and hospitals.




But instead of taking to the streets to protest the cuts, Mr. Krumins, whose newborn child, in the meantime, needed major surgery, bought a tractor and began hauling wood to heating plants that needed fuel. Then, as Latvia’s economy began to pull out of its nose-dive, he returned to architecture and today employs 15 people — five more than he had before. “We have a different mentality here,” he said.


Latvia, feted by fans of austerity as the country-that-can and an example for countries like Greece that can’t, has provided a rare boost to champions of the proposition that pain pays.


Hardship has long been common here — and still is. But in just four years, the country has gone from the European Union’s worst economic disaster zone to a model of what the International Monetary Fund hails as the healing properties of deep budget cuts. Latvia’s economy, after shriveling by more than 20 percent from its peak, grew by about 5 percent last year, making it the best performer in the 27-nation European Union. Its budget deficit is down sharply and exports are soaring.


“We are here to celebrate your achievements,” Christine Lagarde, the chief of the International Monetary Fund, told a conference in Riga, the capital, this past summer. The fund, which along with the European Union financed a $7.5 billion bailout for the country at the end of 2008, is “proud to have been part of Latvia’s success story,” she said.


When Latvia’s economy first crumbled, it wrestled with many of the same problems faced since by other troubled European nations: a growing hole in government finances, a banking crisis, falling competitiveness and big debts — though most of these were private rather than public as in Greece.


Now its abrupt turn for the better has put a spotlight on a ticklish question for those who look to orthodox economics for a solution to Europe’s wider economic woes: Instead of obeying any universal laws of economic gravity, do different people respond differently to the same forces?


Latvian businessmen applaud the government’s approach but doubt it would work elsewhere.


“Economics is not a science. Most of it is in people’s heads,” said Normunds Bergs, chief executive of SAF Tehnika, a manufacturer that cut management salaries by 30 percent. “Science says that water starts to boil at 100 degrees Celsius; there is no such predictability in economics.”


In Greece and Spain, cuts in salaries, jobs and state services have pushed tempers beyond the boiling point, with angry citizens staging frequent protests and strikes. Britain, Portugal, Italy and also Latvia’s neighbor Lithuania, meanwhile, have bubbled with discontent over austerity.


But in Latvia, where the government laid off a third of its civil servants, slashed wages for the rest and sharply reduced support for hospitals, people mostly accepted the bitter medicine. Prime Minister Valdis Dombrovskis, who presided over the austerity, was re-elected, not thrown out of office, as many of his counterparts elsewhere have been.


The cuts calmed fears on financial markets that the country was about to go bankrupt, and this meant that the government and private companies could again get the loans they needed to stay afloat. At the same time, private businesses followed the government in slashing wages, which made the country’s labor force more competitive by reducing the prices of its goods. As exports grew, companies began to rehire workers.


Economic gains have still left 30.9 percent of Latvia’s population “severely materially deprived,” according to 2011 data released in December by Eurostat, the European Union’s statistics agency, second only to Bulgaria. Unemployment has fallen from more than 20 percent in early 2010, but was still 14.2 percent in the third quarter of 2012, according to Eurostat, and closer to 17 percent if “discouraged workers” are included. This is far below the more than 25 percent jobless rate in Greece and Spain but a serious problem nonetheless.


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Armed robbers hit Paris Apple store






PARIS (Reuters) – Armed robbers targeted an Apple Inc store in central Paris on New Year’s Eve, taking thousands of euros (dollars) worth of goods, a police official said on Tuesday.


The robbery took place at about 9 p.m. (1900 GMT) on Monday, three hours after closing time at one of Apple‘s flagship stores behind the Paris Opera which sells products ranging from iPhones and iPads to Mac computers.






The police official declined to comment on reports the thieves walked away with about 1 million euros ($ 1.32 million) of loot, saying the company was still evaluating the loss.


Christophe Crepin from the police union UNSA told reporters four masked and armed individuals forced their way into the shop and afterwards escaped in a van.


“They were well prepared. As the majority of police were busy watching the Champs Elysees (for New Year’s Eve celebrations), the robbers took advantage of this opportunity,” he said.


($ 1 = 0.7585 euros)


(Reporting By Thierry Leveque and John Irish; Editing by Michael Roddy)


Tech News Headlines – Yahoo! News





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Jessica Simpson and Kendall & Kylie Jenner Make Readers Smile - and Frown















01/01/2013 at 07:00 PM EST








Splash News Online; Michael Simon/Startraks


What's on the minds of PEOPLE readers this week? We love getting your feedback, and as always, you weighed in – even while celebrating during the holidays – with plenty of reactions to all of our stories.

From Kelly Osbourne's dramatic weight loss to Jessica Simpson's happy baby news to the tragic death of hero surfer Dylan Smith in Puerto Rico, readers responded to what made them happy, what made them laugh out loud and what made them sad this week.

Check out the articles with the top reactions on the site this week, and keep clicking on the emoticons at the bottom of every story to tell us what you think!

Love Kelly Osbourne says loving herself was the key to her 60-lb. weight loss. She had to get to a place where she respected herself enough to take care of her health – and she emerged a fierce style star who is not afraid to rock a bikini.

Wow Jessica Simpson became a new mom just 8 months ago – so the news that she's expecting baby No. 2 with fiancé Eric Johnson made readers say, "Wow!"

Angry Reality stars Kendall and Kylie Jenner showed off expensive Christmas gifts on Instagram, and their pricey public display turned many readers off. From a pair of Louboutin spike heels to Balenciaga boots with a more than $1,000 price tag, the teens cleaned up with lavish presents that most could only dream about.

Sad Dylan Smith captured our hearts with his heroic efforts during Superstorm Sandy, saving six people on his surfboard. But the Queens, N.Y., lifeguard, 23, who was named one of PEOPLE's Heroes of the Year, drowned on Dec. 24 in a surfing accident off Puerto Rico.

LOL Does the idea of Tom Cruise dating a new woman make you laugh? Maybe. A story that falsely linked the actor romantically to a 26-year-old restaurant manager, had readers clicking LOL. Or maybe the funny part was this quote from a source, who told told PEOPLE: "He's single and will be talking to women – all of whom he won't be instantly dating."

Check back next week for another must-read roundup, and see what readers are reacting to every day here.

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Clinton's blood clot an uncommon complication


The kind of blood clot in the skull that doctors say Hillary Rodham Clinton has is relatively uncommon but can occur after an injury like the fall and concussion the secretary of state was diagnosed with earlier this month.


Doctors said Monday that an MRI scan revealed a clot in a vein in the space between the brain and the skull behind Clinton's right ear.


The clot did not lead to a stroke or neurological damage and is being treated with blood thinners, and she will be released once the proper dose is worked out, her doctors said in a statement.


Clinton has been at New York-Presbyterian Hospital since Sunday, when the clot was diagnosed during what the doctors called a routine follow-up exam. At the time, her spokesman would not say where the clot was located, leading to speculation it was another leg clot like the one she suffered behind her right knee in 1998.


Clinton had been diagnosed with a concussion Dec. 13 after a fall in her home that was blamed on a stomach virus that left her weak and dehydrated.


The type of clot she developed, a sinus venous thrombosis, "certainly isn't the most common thing to happen after a concussion" and is one of the few types of blood clots in the skull or head that are treated with blood thinners, said neurologist Dr. Larry Goldstein. He is director of Duke University's stroke center and has no role in Clinton's care or personal knowledge of it.


The area where Clinton's clot developed is "a drainage channel, the equivalent of a big vein inside the skull — it's how the blood gets back to the heart," Goldstein explained.


It should have no long-term consequences if her doctors are saying she has suffered no neurological damage from it, he said.


Dr. Joseph Broderick, chairman of neurology at the University of Cincinnati College of Medicine, also called Clinton's problem "relatively uncommon" after a concussion.


He and Goldstein said the problem often is overdiagnosed. They said scans often show these large "draining pipes" on either side of the head are different sizes, which can mean blood has pooled or can be merely an anatomical difference.


"I'm sure she's got the best doctors in the world looking at her," and if they are saying she has no neurological damage, "I would think it would be a pretty optimistic long-term outcome," Broderick said.


A review article in the New England Journal of Medicine in 2005 describes the condition, which more often occurs in newborns or young people but can occur after a head injury. With modern treatment, more than 80 percent have a good neurologic outcome, the report says.


In the statement, Clinton's doctors said she "is making excellent progress and we are confident she will make a full recovery. She is in good spirits, engaging with her doctors, her family, and her staff."


___


Online:


Medical journal: http://dura.stanford.edu/Articles/Stam_NEJM05.pdf


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Senate to vote on "fiscal cliff" deal as deadline approaches


WASHINGTON (Reuters) - The White House and Senate leaders struck a bipartisan deal on Monday to try to avoid a "fiscal cliff" budget crisis, although the agreement was likely to face stiff challenges in the House of Representatives.


Senators were due to vote on the accord overnight and independent Senator Joe Lieberman said it had strong support from the Democrats who control the chamber.


The agreement came too late for Congress to meet its own deadline of New Year's Eve to pass laws halting $600 billion in tax hikes and spending cuts due to come into force on January 1.


But with Tuesday a holiday, Congress still had time to draw up legislation, approve it and backdate it to avoid the harsh fiscal measures coming into force.


That will need the backing of the House where many of the Republicans who control the chamber complain that President Barack Obama has shown little interest in cutting government spending to try to reduce the U.S. budget deficit.


House Republicans are also likely to balk at planned tax hikes on household incomes over $450,000 a year that was part of the agreement struck between Vice President Joe Biden and Senate Republican Minority Leader Mitch McConnell. The House has convened a session for Tuesday at noon (1700 GMT).


House Speaker John Boehner said the House would consider the deal if it were passed by the Senate.


"The House will honor its commitment to consider the Senate agreement if it is passed. Decisions about whether the House will seek to accept or promptly amend the measure will not be made until House members ... have been able to review the legislation," Boehner and other House Republican leaders said in a statement.


The deal would make permanent the alternative minimum tax "patch" that was set to expire, protecting middle-income Americans from being taxed as if they were rich.


Indiscriminate spending cuts for defense and non-defense spending were simply postponed for two months.


As New Year's Day approached, members were thankful that financial markets were closed, giving them a second chance to return on Tuesday to try to blunt the worst effects of the fiscal mess.


There is no major difference whether a law is passed on Monday night, Tuesday or Wednesday. Legislation can be backdated to January 1, for instance, said law firm K&L Gates partner Mary Burke Baker, who spent decades at the Internal Revenue Service.


"This is sort of like twins and one being born before midnight and one being born after. I think the date that matters is the day president signs the legislation," she said.


Republicans are pushing for savings in the Medicare and Social Security healthcare and retirement programs and threatening to block a increase in the debt limit - which caps how much debt the federal government can hold - in February unless they get their way.


(Additional reporting by Richard Cowan, Mark Felsenthal, Rachelle Younglai and David Lawder; Writing by Alistair Bell, Editing by Peter Cooney)



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