President Barack Obama: U.S.

Economy Dept: WASHINGTON -- A last-minute deal in Congress to avoid the economy-shaking "fiscal cliff" sent world stocks climbing Wednesday but doesn't solve the problem of the massive U.S. deficit, meaning other battles on deep spending cuts and the federal debt limit loom in the coming weeks and months, according to Winnipeg Free Press. A smiling U.S. President Barack Obama said he would sign the law "that raises taxes on the wealthiest two per cent of Americans while preventing tax hikes that could have sent the economy back into recession." Then he left for Hawaii to resume his holiday break and seth Wenig / The Associated Press A trader works on the floor at the New York Stock Exchange on Wednesday. All the major U.S. stock indexes jumped by at least two per cent and the Dow Jones industrial average saw its biggest surge in six months. (www.immigrantscanada.com). As reported in the news.