It’s that time of year we’ve all been looking forward to. That time when you leave the office with good intentions and a pile of papers. All that stuff you’ve been meaning to read for ages that there just hasn’t been time for. And, of course, you try to use the office printer because the one at home is just so damn slow and the cartridges are so expensive (can’t just be us).

There are also dreams of clearing up the inbox, replying to friends who messaged ages ago (we’re so sorry!), and maybe fixing some things around the flat.

So. Much. Ambition.

Also we hear some family members expect to see us when taking breaks from reading? Could just be a rumour.

From all of us at FT Alphaville, we wish you an enjoyable and relaxing crossover to 2013. We ♥ you guys for making the site what it is. Read more

The influence of pop stars is leveraged by their fame. It’s not only about the music, but also about the lifestyle. Unfortunately, what that sometimes includes is substance abuse, which can in extreme cases lead to premature death.

While that in itself is tragic, the effects of leverage and inter-linkages with the star’s substantial fanbase can lead to system-wide shock, e.g. Kurt Cobain. Read more

Fiscal Cliff ‘Plan B’ collapses || ICE to buy NYSE Euronext || Bolder UK bank reforms encouraged || Ex-banker arrested in US over Olympus fraud || US planning Whale sanctions || US banks may face rise in bad loan provisions || Khuzami to leave SEC || Research in Motion shares slump Read more

Elsewhere on the end of the world,

- Flash, aha, we’ve only got 14 hours to save the S&P 500.

- A definition of full employment.

- Playing Taxes Hold ‘Em.  Read more

‘Plan B’ collapse draws fiscal cliff nearer: Republican House leaders failed to get a vote held on a ‘Plan B’. The failure has led to increased pessimism over whether a deal can be struck, and “marks a serious miscalculation on the part of Mr Boehner, who hoped the measure’s passage would increase his leverage in talks with Barack Obama”. It was unclear how efforts to reach agreement would proceed, with the House adjourned until December 27 and the Senate, apart from meeting for a few hours this afternoon, effectively doing the same. (Financial Times)(Washington Post)

Asian shares and US futures slumped on news of the ‘Plan B’ collapse, while the Yen rose. (Bloomberg)(Financial Times) Read more