US Senate passes bill to avert 'fiscal cliff'

The US Senate has passed a bill to avert 'fiscal cliff' tax hikes and spending cuts, according to the Associated Press.

Read: What is the 'Fiscal Cliff'.


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.