Adele's "21" is top-selling U.S. iTunes album of 2012

 British singer Adele notched another accolade on Thursday as iTunes announced that her Grammy-winning album "21" was the top-selling record of 2012 in its U.S. store, extending the disc's successful run almost two years after it was released.
Adele, 24, who last year became the first artist to secure three iTunes milestones with top-selling album, single and artist of the year, came in ahead of country-pop star Taylor Swift's "Red" and British folk band Mumford & Sons' "Babel."
ITunes did not reveal its sales or download figures.
British boy band One Direction's debut album "Up All Night" and current Grammy nominees fun.'s debut "Some Nights" rounded out the five top-selling albums on iTunes in the United States.
"21," released in February 2011, has performed strongly in the U.S. music charts this year following the singer's Grammy-sweeping win in six categories in February 2012.
Adele also landed Screen Actors Guild and Golden Globe nominations for her sultry James Bond theme song "Skyfall" this week, becoming a strong contender in the best song category for Hollywood's awards season.
"Thank you so much for the honor of being included in something as brilliant as the Golden Globes! Never in a million years did I ever think I'd come close to such a thing! Truly wonderful ... thank you to the Bond family for giving me the opportunity," the singer said in a statement on Thursday.
ITunes U.S. compiled their Best of 2012 list by looking at the most downloaded items from the Apple iTunes store.
Canadian pop star Carly Rae Jepsen had the top-selling track for her infectious breakthrough summer single "Call Me Maybe."
Post-apocalyptic action film "The Hunger Games" was the best-selling movie while the second season of British aristocratic period drama "Downton Abbey," another Hollywood awards favorite, was iTunes' top-selling television series.

Read More..

One Direction, Rihanna, Adele lead Billboard 2012 charts

Newcomer British boy band One Direction joined R&B diva Rihanna and British singer Adele to top Billboard's year-end music charts, released on Friday.
One Direction, who topped the Billboard 200 album chart twice this year with their debut, "Up All Night" in March and their sophomore album "Take Me Home" in November, were named Billboard's top new artist/group, rounding off a stellar year of U.S. success for the band.
Adele, 24, who became the first woman top score No. 1 single, album and artist on Billboard's 2011 year-end charts, continued her reign in 2012, when her Grammy-winning record "21" was the top-selling album in the U.S. and she was once again named artist of the year.
"21" has sold more than 10 million copies in the U.S. since its release in February 2011, becoming a fixture on the Billboard 200, especially after Adele's six wins at the Grammy Awards earlier this year.
She is the only act to be named both top artist and have the top album in Billboard's charts for two years in a row.
Adele was also named the No. 1 female artist while R&B rapper-singer Drake was named No. 1 male artist and pop-rock band Maroon 5 were named No. 1 group.
Rihanna, also 24, was named the top Hot 100 artist after a year of chart-topping hit singles such as "We Found Love" and "Diamonds" on the Hot 100 chart, which measures top-selling singles each week.
But Australia's Gotye picked up the Hot 100 single of the year, with his heartbreak hit "Somebody That I Used To Know."
Billboard compile their end-of-year lists based on chart performances between December 3 2011 and November 24 2012, tallying data including album sales and streaming figures.

Read More..

Pop star Kelly Clarkson announces engagement

Kelly Clarkson, who became the first contestant to win "American Idol" a decade ago and went on to several chart-topping successes, has gotten engaged to her boyfriend, the singer said in a Twitter message on Saturday.
Clarkson, 30, previously revealed she had been dating talent manager Brandon Blackstock since early this year. Blackstock is the stepson of country singer Reba McEntire.
"I'M ENGAGED!" Clarkson said on Twitter. "I wanted y'all to know!! Happiest night of my life last night!"
She then followed that by posting a link to a photo of her canary yellow diamond engagement ring on a website. She wrote that her boyfriend helped design it and that she "can't wait to make Brandon's ring."
Clarkson's album "Stronger" hit No. 2 last year on the Billboard 200 sales chart, and she in previous years topped pop charts with her songs "My Life Would Suck Without You" and "A Moment Like This."
The Texas-born singer won the Fox television singing contest "American Idol" in the show's debut year in 2002, and has had more success than many of the show's stars from following years.
Clarkson has burnished an image as an artist willing to speak her mind, even confessing to feelings of loneliness.
Last month, in an appearance on the "Ellen DeGeneres Show," Clarkson said she had been dating Blackstock since earlier this year and was thankful to have him.
"I am not alone for the first time for Thanksgiving and Christmas and I'm very happy," she said on the show.
In the same November appearance, Clarkson said she expected to get engaged to Blackstock. "We will totally, probably elope," she told DeGeneres.

Read More..

Sirius XM to pay higher music royalty fees

Sirius XM Radio Inc will pay a bigger percentage of revenue toward music royalties for sound recordings, following a decision made by the U.S. Copyright Royalty Board, the satellite radio provider said on Monday.
Judges at the U.S. Copyright Royalty Board determined last Friday that Sirius should pay higher royalty rates over the next five years to SoundExchange, the non-profit group that collects royalties from Sirius as well as Internet radio and cable TV companies on behalf of recording artists and record labels.
Sirius currently pays 8 percent of a portion of its gross revenue to SoundExchange, but after Friday's ruling, the rate will rise each year until 2017, when the agreement expires.
ISI analyst Vijay Jayant estimated the company paid about $250 million to SoundExchange in 2012, and will pay $324 million next year.
Analysts, on average, expect Sirius to generate $3.41 billion in revenue in 2012, according to Thomson Reuters I/B/E/S.
The royalty will increase to 9 percent in 2013, 9.5 percent in 2014, 10 percent in 2015, 10.5 percent for 2016, and 11 percent for 2017, Sirius said in a filing with the U.S. Securities and Exchange Commission.
Sirius XM and SoundExchange were involved in lawsuits over the fees.
The new rates were better than expected and will be "modestly positive" for Sirius' earnings before interest, taxes, depreciation and amortization," according to ISI, an investment research firm.
Last Friday, when the Copyright Royalty Board issued its decision, Sirius XM shares rose 6 percent.
"With increased clarity on the royalty fee front, we now expect there could be upside" to the company's earnings forecast next year, said Macquarie analyst Amy Yong said.
The board oversees copyright licenses and royalty payments in the United States.
Sirius, the largest U.S. satellite radio provider with more than 23 million subscribers, approved a $2 billion stock repurchase program on December 6 and issued a special dividend.
Its shares dipped 2 cents to $2.89 on Monday.

Read More..

The top 10 songs and albums on the iTunes Store

iTunes' Official Music Charts for the week ending Dec. 17, 2012
Top Songs:
1. "Locked Out of Heaven," Bruno Mars
2. "I Knew You Were Trouble," Taylor Swift
3. "Ho Hey," The Lumineers
4. "Stupid Boy," Cassadee Pope
5. "Scream & Shout (feat. Britney Spears)," will.i.am
6. "Diamonds," Rihanna
7. "Beauty and a Beat (feat. Nicki Minaj)," Justin Bieber
8. "Thrift Shop (feat. Wanz)," Ryan Lewis,Macklemore
9. "Gangnam Style," PSY
10. "Die Young," Ke$ha
Top Albums:
1. "12-12-12 The Concert for Sandy Relief," Various Artists
2. "Unorthodox Jukebox," Bruno Mars
3. "Jesus Piece," Game
4. "Christmas," Michael Buble
5. "Glee: The Music, The Christmas Album, Vol. 3," Glee Cast
6. "Red," Taylor Swift
7. "The Hobbit: An Unexpected Journey (Original Motion Picture Soundtrack)," Howard Shore
8. "O.N.I.F.C. " Wiz Khalifa
9. "The Lumineers," The Lumineers
10. "Babel," Mumford & Sons

Read More..

Existing home sales rise to fastest pace in three years

WASHINGTON (Reuters) - Home resales rose sharply in November to their fastest pace in three years, a sign the recovery in the housing market is gaining steam.

The National Association of Realtors said on Thursday that existing home sales climbed 5.9 percent last month to a seasonally adjusted annual rate of 5.04 million units.

That was the fastest since November 2009, when a federal tax credit for home buyers was due to expire. Sales were well above the median forecast of a 4.87 million-unit rate in a Reuters poll.

The U.S. housing market tanked on the eve of the 2007-09 recession and has yet to fully recover, but steady job creation has helped the housing sector this year, when it is expected to add to economic growth for the first time since 2005.

NAR economist Lawrence Yun said superstorm Sandy, which slammed in the U.S. East Coast in late October and disrupted the regional economy for weeks, had only a slight negative impact on home resales.

The NAR expects some purchases delayed by the storm to add a slight boost to resales over the next few months, Yun said.

Nationwide, the median price for a home resale was $180,600 in November, up 10.1 percent from a year earlier as fewer people sold their homes under distressed conditions compared to the same period in 2011. Distressed sales include foreclosures.

The nation's inventory of existing homes for sale fell 3.8 percent during the month to 2.03 million, the lowest level since December 2001.

At the current pace of sales, inventories would be exhausted in 4.8 months, the lowest rate since September 2005.

Distressed sales fell to 22 percent of total sales from 29 percent a year ago.

The share of distressed sales, which also include those where the sales price was below the amount owed on the home, was also down from 24 percent in October.

Read More..

New York City should hike taxes on big business-comptroller

(Reuters) - New York City's top financial officer and possible contender for mayor in 2013, John Liu, proposed on Thursday tax hikes for big businesses and an end to Madison Square Garden's $15 million annual property tax exemption.
The proposals by New York City Comptroller John Liu include tax hikes on private equity firms, which would help offset his plan for $500 million in tax breaks and lowered fines for 90 percent of the city's small businesses.
Liu is expected to vie for the Democratic mayoral nomination for the election in November 2013.
The city could end tax breaks for big companies - more than $250 million of which were handed out last year, Liu said.
The city could also eliminate its $15 million annual property tax exemption for Madison Square Garden, the indoor arena in midtown Manhattan that's home to the New York Knicks basketball team. Madison Square Garden has been exempt from paying taxes on real property since 1982 under New York state law.
The arena is owned by The Madison Square Garden Co, which also owns the Knicks and other professional sports teams. The company also owns Radio City Music Hall, the Beacon Theatre and others venues, as well as television networks.
Liu also proposed examining tax breaks for special interests. Insurance companies, for instance, have not paid the general corporation tax since 1974, at a cost of $300 million annually to the city, he said.
Private equity firms could also start paying the unincorporated business tax for carried interest or gains from assets being held for investment. The exemption costs New York City about $200 million a year, Liu said.
Liu's package would use the revenue generated by those measures to offset his plan to ease the tax burden for small businesses.
He proposed ending the city's general corporation tax for all businesses with liabilities under $5,000 -- about 240,000 business in the city, or 85 percent of those that currently pay the tax.
His plan would also reduce some fines, as well as exempt businesses that make less than $250,000 in annual income from the city's unincorporated business tax.
The proposals would have to be approved by the governor and state legislature after a request by the city council.
The city is facing a possible $2.7 billion gap in fiscal 2014 that could grow to $3.8 billion the following year, Liu said.

Read More..

Republicans push own "fiscal cliff" plan; talks frozen

WASHINGTON (Reuters) - Republicans in the Congress pushed ahead on Thursday with a "fiscal cliff" plan that stands no chance of becoming law as time runs short to reach a deal with President Barack Obama to avert a Washington-induced economic recession.
House of Representatives Speaker John Boehner's "Plan B" to limit income-tax increases to the wealthiest sliver of the population appeared likely to pass the House on Thursday evening after it narrowly cleared a procedural hurdle in the afternoon.
However, Obama has vowed to veto the plan, and Senate Majority Leader Harry Reid said he will not bring it up for a vote in the Democratic-controlled chamber. White House spokesman Jay Carney called it a "multi-day exercise in futility."
Still, passage of Plan B could give Boehner the political cover he needs to strike a deal that would break with decades of Republican anti-tax orthodoxy.
"Time's running short. I'm going to do everything I can to protect as many Americans from an increase in taxes as I can," Boehner told a news conference.
Though it does not raise taxes on as many affluent Americans as Obama wants, the bill would put Republicans on record as supporting a tax increase on those who earn more than $1 million per year - a position the party opposed only weeks ago.
That could make it easier eventually to split the difference with Obama, who wants to lower the threshold to households that earn more than $400,000 annually. Obama also faces resistance on his left flank from liberals who oppose cuts to popular benefit programs, which Republicans say must be part of any deal.
Obama and Boehner will need to engage in more political theater to get lawmakers in both parties to sign on to the painful concessions that will have to be part of any deal to avert the cliff and rein in the national debt, analysts say.
"They are now in the mode where they have to demonstrate how hard they're trying to get everything they can," said Joe Minarik, a former Democratic budget official now with the Committee For Economic Development, a centrist think tank.
Even as he pressured Obama and the Democratic Senate to approve his plan, Boehner indicated that he was not willing to walk away from the bargaining table.
"The country faces challenges, and the president and I, in our respective roles, have a responsibility to work together to get them a result," Boehner said.
TIME RUNNING OUT
Obama and Boehner aim to reach a deal before the end of the year, when taxes will automatically rise for nearly all Americans and the government will have to scale back spending on domestic and military programs. The $600 billion hit to the economy could push the U.S. economy into recession, economists say.
Investors so far have assumed the two sides will reach a deal, but concerns over the fiscal cliff have weighed on markets in recent weeks. The S&P 500 index of U.S. stocks was up 0.4 percent in Thursday trading, despite a round of strong data on economic growth and housing.
"The closer we get to the end of the year without a deal, the more optimism is going to evaporate," said Todd Schoenberger, managing partner at LandColt Capital in New York.
Shares crept up after Boehner said he was prepared to work with Obama to prevent the fiscal cliff from kicking in.
Lawmakers are eager to wrap up their work and return home for the Christmas holiday, but congressional leaders kept the door open for last-minute action.
The Senate was expected to leave town on Thursday or Friday, but Reid said it could return next week to vote on any deal.
Boehner indicated the House would stay in session after Thursday's vote, scheduled for 7:45 p.m. EST (0045 GMT on Friday).
Several influential conservative groups have condemned Plan B, and some Republicans are expected to vote against it. But passage appeared likely after the House narrowly voted by 219 to 197 to bring the bill to the floor for debate.
The U.S. Chamber of Commerce, an influential business group that has often tangled with the Obama administration, offered grudging support.
"We are not comfortable allowing tax increases on anyone in this environment. However, we understand that, at times, politics requires compromise," the Chamber's top lobbyist, Bruce Josten, wrote in a letter to lawmakers.
To placate conservatives, Boehner also scheduled a vote on legislation that would shift $55 billion in scheduled defense cuts to cuts in food and health benefits for the poor and other domestic programs.
That measure also would roll back some of the Dodd-Frank financial regulation reforms of 2010. It is not expected to become law.

Read More..

Canada's seven-month budget gap narrows to C$10.6 billion

OTTAWA (Reuters) - Canada's federal budget deficit narrowed in the first seven months of the fiscal year to C$10.57 billion ($10.68 billion) from C$13.90 billion in the same period last year as personal and corporate income tax revenues rose and debt charges were lower.
The monthly shortfall in October was C$1.68 billion, compared with a gap of C$2.13 billion a year earlier, the Department of Finance said in a report on Friday.
The Conservative government in October pushed back by one year, to 2016-17, the date it expects to eliminate the deficit. Most economists believe that if the economy continues to grow, the books could be balanced sooner.
Ottawa has estimated a 2012-13 deficit of C$26 billion, including a C$1 billion cushion for risk.
In the April-October period, revenues increased by 3.6 percent, or C$4.9 billion, from the same period in 2011, pushed up by personal income tax and corporate income tax. Program expenses rose by 2 percent, or C$2.7 billion, on increases in elderly benefits and direct program expenses.
Public debt charges decreased 6.1 percent, or C$1.1 billion, on a lower effective interest rate.

Read More..

"Fiscal cliff" creates waiting game for payrolls firms

WASHINGTON/NEW YORK (Reuters) - At payroll processing businesses across the United States, the "fiscal cliff" stalemate in Washington means uncertainty over tax-withholding tables just days before the start of 2013.
The U.S. Internal Revenue Service still has not issued the tables for next year that show how much money employers should hold back from workers' paychecks to cover federal income taxes.
Payroll processors need the tables to get their systems geared up for the new year. The tables are set by many factors, including tax rates and annual inflation adjustments.
In anticipation of late-breaking developments, Rochester, New York-based Paychex Inc will be serving Buffalo chicken wings for staffers working late on New Year's Eve, said Frank Fiorille, an executive at the payroll processing giant.
"Our systems are flexible enough that we can wait almost up until the last minute and still make changes," he said.
The IRS appreciates of the impact of Congress' inaction.
"Since Congress is still considering changes to the tax law, we continue to closely monitor the situation," IRS spokesman Terry Lemons said in a statement. "We intend to issue guidance by the end of the year on appropriate withholding for 2013."
Tax rates are slated to rise sharply for most Americans if Congress and President Barack Obama fail to reach an agreement that averts the "fiscal cliff" approaching at year-end.
"The political process will determine one way or the other what" the IRS must do, said Scott Hodge, president of the Tax Foundation, a business-oriented tax research group.
For now, he said, from the tax-collection agency's viewpoint, "doing nothing is probably the best course." This would be because withholding tables distributed now might only have to be revised if Congress acts in the next few days.
Some payroll servicers are not waiting for formal IRS guidance. The American Payroll Association, which represents about 23,000 payroll professionals, told members on Friday to rely on 2012 withholding tables until the IRS releases the new forms for 2013.
The association said its decision was based on a statement earlier this month from an IRS official.
The agency would not confirm that policy on Friday.
Tax preparer H&R Block Inc said it will use 2012 tax-withholding tables if the 2013 tables are not issued.
Executives said they were frustrated with the uncertainty in Washington, but were doing their best to cope.
"We are not doctors or surgeons and this is not life threatening," said Rob Basso with Advantaged Payroll Services, an Auburn, Maine-based payroll processor that serves 30,000 businesses. "It is annoying and disruptive to people's lives, but we will get through it."

Read More..