Caved: House Republicans have agreed to a two-month extension of the payroll tax holiday, caving under pressure from party leaders, The New York Times reports. The House Republicans' stand divided the party. One Republican strategist said President Obama won a "nice tactical victory to end the year." Congress is expected to vote on the tax cut today.
Approved: The Federal Communications Commission has approved AT&T's $1.9 billion purchase of wireless airwaves from Qualcomm. The Washington Post said the FCC voted 3-1 to approve the deal. The lone commissioner against the purchase said the deal gives Verizon and AT&T too much dominance in the market.
Rejected: The U.S. Court of Appeals for the 9th Circuit has rejected claims brought by plaintiffs who are challenging Barack Obama's eligibility to serve as president, The Recorder reports. A three-judge panel unanimously said the plaintiffs, who include 2008 presidential candidate Alan Keyes, lack legal standing to sue.
Alleged: Prosecutors contend Pfc. Bradley Manning collaborated with WikiLeaks founder Julian Assange to steal hundreds of thousands of documents from classified computer systems. Manning's defense attorney, David Coombs, said prosecutors overcharged Manning in the hope to convince him to accept a plea.
Attracted: The New York Times reports Turkey's political stability and economic growth is attracting cash-rich companies that are eager to make deals. Deal volume has topped more than $10.6 billion so far this year.