NY approves sweeping gun control package

New York on Tuesday became the first state to approve a comprehensive set of gun control laws in response to last month’s mass shooting at a Connecticut elementary school, amid concerns among gun owners that the spate of changes to local and state gun laws could make them targets of overzealous politicians and prosecutors. 

The New York Assembly gave final approval to the bill late Tuesday afternoon -- Gov. Andrew Cuomo signed it within minutes. 

New York’s new laws will expand the state's ban on assault weapons and include new measures to keep guns away from mentally disturbed individuals. Under the new law, ammunition magazines would also be restricted

US plays down media report that chemical weapons used in Syria

WASHINGTON: The United States on Tuesday poured cold water on a media report that chemical weapons had been used in the Syrian conflict, but reiterated that if the regime of Syrian PresidentBashar al Assad did resort to chemical weapons, it will be held accountable. 

US House approves $50.7 billion in superstorm Sandy aid

WASHINGTON: The Republican-controlledHouse of Representatives approved $50.7 billion in emergency relief for Superstorm Sandyvictims on Tuesday night, ending an episode that exposed painful party divisions more than 10 weeks after the storm brutalized parts of the heavily populated Northeast.

Sandy roared through several states in late October and has been blamed for 140 deaths and billions of dollars in residential and business property damage, much of it in New York, New Jersey and Connecticut.

The vote was 241-180, and officials said the Senate was likely to accept the measure early next week and send it to President Barack Obama for his signature. Democrats supported the aid in large numbers, but there was substantial Republican backing, too, in the Republican-controlled House.

WASHINGTON: The United States has said it favours a democratically elected civilian government in Pakistan and noted it is for the people of the country to determine their future in a just and transparent manner. "Our view is that internal political issues in Pakistan need to be resolved by Pakistanis in a just and transparent manner that accords with the rule of law. "We stand strongly in favour of a democratically elected civilian government in Pakistan," the State Department spokesperson Victoria Nuland told reporters on Tuesday at her daily news conference when asked about the current atmosphere of political instability in that country.

"We're obviously not taking a position with regard to the march and all of those —the various issues —political issues that the marchers are out in the streets for," she said in response to a question.

WASHINGTON: The United States has said it favours a democratically elected civilian government in Pakistan and noted it is for the people of the country to determine their future in a just and transparent manner.

"Our view is that internal political issues inPakistan need to be resolved by Pakistanis in a just and transparent manner that accords with the rule of law.

Nebraska governor is latest to propose ending state income tax

Nebraska Governor Dave Heineman on Tuesday became the second Republican governor in the last week to propose ending his state's income tax, saying he wants to make Nebraska more competitive with its neighbors by eliminating the tax on both individuals and corporations.

Heineman said that if a complete elimination of the two taxes could not be passed, he would push to lower rates on both individuals and corporations. He promised to make up the lost revenue by reducing business exemptions to the sales tax.

Last week, Louisiana Governor Bobby Jindal said he wanted to eliminate all personal and corporate income taxes in his state. Louisiana's personal income tax rate is 3.9 percent.

Shares rebound around the world

NEW YORK: World equity markets pared losses on solid U.S. retail sales data on Tuesday, even as safe-haven Treasury debt rose, spurred by a looming battle in Washington over a limit on the government's borrowing.

The yen was on track for its biggest one-day gain against the dollar in eight months as a warning from a Japanese minister about the disadvantages of excessive yen weakness prompted investors to pare back bearish bets.

Most U.S. stocks rebounded in a late-day rally after data showed retail sales in December increased 0.5 percent, following a 0.4 percent rise the prior month, beating economists' expectations for a gain of only 0.2 percent.

Consumer discretionary stocks led the broad S&P 500 index higher, followed by financial stocks. Technology shares fell, led by a 3.1 percent decline in Apple shares.

"The retail sales numbers were really good, much better than expected this morning and that is helping the whole retail group," said Paul Mendelsohn, chief investment strategist at Windham Financial Services in Charlotte, Vermont.

Woman crashes train into house in Sweden

STOCKHOLM: A cleaning lady stole a train and drove it off the end of the tracks and smashed into a house in Sweden on Tuesday, injuring only herself in an incident police are investigating.

It was not clear how the woman, around 20, got access to the key needed to start the train. She was taken to hospital with serious injuries, but the train was carrying no other passengers as it was in the early hours and no one in the house was hurt.

"The cleaner drove the train at high speed, considerably higher than normal on that stretch, to where the rails end and crashed into a house," said Jesper Pettersson, spokesman at Stockholm Public Transport (SL).