Economy

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.

The Republican plan to avert the "fiscal cliff" includes a proposal that would change the way inflation is calculated. The change could result in savings of billions, but its getting pushback from Democrats and groups like AARP.

Some top-tier business schools — Duke, UCLA, MIT and Stanford — are teaching improv as a way for students to increase collaboration, creativity and risk taking. An instructor at MIT says success in business, as in improvisation, can hinge on your ability to rebound.

Are the days of "daily deal" coupons about to expire? Shares of email coupon company Groupon are down nearly 80 percent since going public last year. And its smaller rival, Living Social, plans to lay off as many as 400 employees, after reporting a net loss of more than $560 million in the third quarter.

Mitt Romney may have lost the election, but the tax policy he floated is sticking with congressional Republicans. Rather than raising rates, the GOP would prefer to shrink or eliminate deductions. So what would that do to the deficit — and to the middle class?

Forget touch screens and voice recognition. What if you could control your computer just by looking at it? Gaze-based interaction has been around for 20 years, but it may be poised to become more widely available — and affordable.

 This month, Krispy Kreme Doughnuts is celebrating its 75th birthday.