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...moving closer to extending the so-called tax loss carryback provision to five years, instead of two. Senate majority leader Harry Reid recently threw his support behind the extension of the tax refund, adding it to a bill that would extend unemployment benefits. On Nov. 2, the Senate voted to close debate on the bill, which means a final vote to approve the bill would come later this week. It is expected to pass both houses of Congress easily...

Author: /time Magazine | Title: Recession Dividend: A Boom in Corporate Tax Credits | 11/5/2009 | See Source »

...presidential election is over. Former Foreign Minister Abdullah Abdullah withdrew from a runoff scheduled for Nov. 7, prompting the Independent Election Commission to declare incumbent Hamid Karzai the winner by default. But it's by no means an unalloyed victory for Karzai. Allegations of fraud in the Aug. 20 vote, coupled with long-standing concerns over corruption in his administration, have undermined his credibility. Abdullah, Karzai's closest challenger, said the election process was so flawed that it wasn't worth participating in. He later said he had no intention of joining a coalition with Karzai, calling his re-election...

Author: /time Magazine | Title: The World | 11/5/2009 | See Source »

...leader Roberto Micheletti signed a U.S.-brokered accord on Oct. 30, resolution of their long-running standoff was delayed again. Under the deal, the Honduran congress must decide whether to reinstate Zelaya for the remainder of his term; a legislative committee declined to call a special session for the vote, opting to await an opinion from the Supreme Court on the matter...

Author: /time Magazine | Title: The World | 11/5/2009 | See Source »

Usually only a couple hundred ballots cannot be processed electronically because they contain a vote for a write-in candidate, a stray mark, or some other error, according to City Council candidate Thomas Stohlman, Jr.—but this year’s commissioners must hand-count 3,590 such ballots...

Author: By Julie M. Zauzmer, CONTRIBUTING WRITER | Title: City Council Race Nears Conclusion | 11/5/2009 | See Source »

...BoJo" by London's admiring tabloids, has won over political opponents. His 2008 victory relied not just on the Conservative Party's mobilization of support for their candidate in the city's leafy suburbs but also on traditional Labour supporters who overcame their antipathy to his party to vote for him. Armstrong resisted Johnson at the polls but has succumbed to the gallantry of her rescuer, who cycled after her attackers - a gang of girls - before returning to escort her safely to her front door. (See pictures of Boris Johnson...

Author: /time Magazine | Title: London Mayor Saves Filmmaker from Mugging | 11/4/2009 | See Source »

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