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The two sides dug in their heels. Protesters asked President Mohammed Morsi to walk back his power grab and rethink the new draft of the constitution and Morsi simply declined.

If Congress fails to reach an agreement on tax increases and spending cuts this year, it will mean sharp reductions in a broad swath of federal spending, from defense and Medicare to education and unemployment benefits. Economists say the cuts would be a serious setback for the economy as a whole.

During a luncheon, industry insiders warned that if spending cuts go into effect on January 1, they could face huge layoffs.

The way Texans speak, from using words like "y'all" to that old Texas twang, is iconic in American culture. But linguists say the twang is fading — and that, in a few decades, "talking Texan" may sound quite different than it does today.

As President Obama and lawmakers try to find a formula for spending cuts and tax increases, they might look across the Atlantic for insights from those who have been wrestling with budget problems. The first lesson from Europe's "fiscal consolidation" experiences: It will hurt.

Phoenix suburbs are becoming a magnet for small universities. Five schools — Benedictine, Albright, Wilkes, Upper Iowa and Westminster — have announced plans for satellite campuses in downtown Mesa. And at least three more are coming to Peoria.

Michael Forbes lives next to Donald Trump's new golf course in Scotland. He has refused to sell his property to Trump, and what's ensued has been a war of words. The latest flare-up involves an award given by the Scottish company that makes Glenfiddich whisky.

Standard Chartered says it expects to pay around $330 million to the U.S. to settle a case with regulators who accuse the bank of failing to comply with sanctions against Iran. Standard Chartered has already paid out $340 million to the state of New York on the same claims.

The defense secretary says the U.S. intelligence community has information that raises "serious concerns" because it indicates the Assad regime is prepared to use chemical weapons in his fight against rebel forces.