CAPITAL MARKETS

Clock ticking on fiscal cliff deal

AUSTRALIAN stocks are set to close down on the last day of 2012 as United States policymakers struggle to reach a deal to avoid the fiscal cliff.

Kristie Batten

US Senate Republican leader Mitch McConnell said he was concerned about the lack of urgency in negotiations and reached out to Vice-President Joe Biden to see if he could “jump-start” talks among the Democrats....

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