'Fiscal Cliff' talks to resume at 4pm UK time

The US Congress resumes this morning without a deal to avert the 'fiscal cliff' and only a few hours of actual legislative time scheduled in which to act if an agreement materialises.

Negotiations are due to begin again at 4pm UK time.

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Obama hails US budget deal

Barack Obama has hailed a deal to avoid a "fiscal cliff" of stark tax hikes and spending cuts. The US House of Representatives backed the bill by 257 votes to 167.