Pelosi: "Not enough" revenue in "fiscal cliff" deal

House Minority Leader Nancy Pelosi, D-Calif., argued that additional revenue must be included in upcoming deficit reduction deals, calling the revenue secured by the "fiscal cliff" deal "significant" but "not enough."

"The President had originally said he wanted $1.6 trillion in revenue," she said on "Face the Nation." "He took it down to 1.2 as a compromise in this legislation. We get $620 billion dollars, very significant, high-end tax, changing the high-end tax rate to 39.6 percent, but that is not enough on the revenue side."

Pelosi declined to go into particulars, saying she was "fairly agnostic" about how to secure more revenue, but implied that closing loopholes and deductions was more likely than revisiting tax rates.

"Put it all on the table and see what is working," she said, identifying the carried interest loophole and oil subsidies as two examples of dubious tax expenditures that may be targeted.

Asked if Democrats are ready to significantly reform entitlement programs to address the deficit, Pelosi said, "We already have," pointing to the Affordable Care Act's $716 billion in Medicare provider cuts.

She replied with a quick "no" when asked whether she supports raising the Medicare eligibility age but signaled that she would be open to additional means testing to reduce Medicare payments to wealthy beneficiaries.

She also seemed disinclined to consider any cost of living adjustment that could reduce Social Security benefit payments, saying, "I do not think we should do anything to Social Security that reduces benefits to the beneficiaries." Tossed around during the "fiscal cliff" negotiations was the idea of "chained" CPI, which would have tied the cost of living adjustment for Social Security to the inflation rate. It ultimately was not included in the final deal.

Asked to respond to House Speaker John Boehner's proposal that Congress should match a debt ceiling hike with commensurate spending cuts, Pelosi said "I don't think these two things should be related."

"I think that we should subject what we spend, every taxpayer dollar, whether it be defense or domestic, to the harshest scrutiny," she said, but argued that has nothing to do with "whether the full faith and credit of the United States of America should be placed in jeopardy."

"The debt ceiling is about spending that has already occurred," Pelosi pointed out. "Right now, we have to pay the bills that have been incurred. And if you want to say 'cut spending for what we do next,' fine, but don't tie it to the debt ceiling."

If Pelosi were president, she said she'd invoke the 14th Amendment, which says the validity of the public debt of the United States "shall not be questioned," to raise the debt ceiling unilaterally.

And she lamented the state of the modern GOP, arguing that Democrats' record of cooperation with President George W. Bush during his two terms was not matched by today's "over-the-edge" GOP.

"I keep saying to my Republican friends, 'Take back your party'," Pelosi said. "This isn't the Grand Old Party that did so many things for America, that commanded so much respect."

"This is really an over-the-edge crowd, that's the way I see it," she said. "The fact is that it is dominated by an element that are anti-government ideologues, and are committed to not cooperating with this president, and it is hard to understand."

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Assad Calls On Syrians to Defend the Country

President Bashar Assad called on Syrians to defend their country against religious extremists seeking to destroy the nation, dismissing any prospect of dialogue with the "murderous criminals" he says are behind the uprising even as he outlined his vision for a peaceful settlement to the civil war.

In a one-hour speech to the nation in which he appeared confident and relaxed, Assad struck a defiant tone, ignoring international demands for him to step down and saying he is ready to hold a dialogue but only with those "who have not betrayed Syria."

He offered a national reconciliation conference, elections and a new constitution but demanded regional and Western countries stop funding and arming rebels trying to overthrow him first.

Syria's opposition swiftly rejected the proposal. Those fighting to topple the regime, including rebels on the ground, have repeatedly said they will accept nothing less than the president's departure, dismissing any kind of settlement that leaves him in the picture.

"It is an excellent initiative that is only missing one crucial thing: His resignation," said Kamal Labwani, a veteran secular dissident and member of the opposition's Syrian National Coalition umbrella group.

"All what he is proposing will happen automatically, but only after he steps down," Lawani told The Associated Press by telephone from Sweden.

Remy de la Mauviniere/AP Photo

On top of that, Assad's new initiative is reminiscent of symbolic changes and concessions that his government made earlier in the uprising, which were rejected at the time as too little too late.

Speaking at the Opera House in central Damascus, Assad told the hall packed with supporters — who frequently broke out in cheers and applause — that "we are in a state of war."

"We are fighting an external aggression that is more dangerous than any others, because they use us to kill each other," he said. "It is a war between the nation and its enemies, between the people and the murderous criminals."

Assad has rarely spoken since the uprising against his rule began in March 2011, and Sunday's speech was his first since June. His last public comments came in an interview in November to Russian TV in which he vowed to die in Syria.

On Sunday, he seemed equally confident in his troops' ability to crush the rebels fighting his rule, even as they edge in closer than ever to his seat of power, Damascus.

British Foreign Secretary William Hague said Assad's speech was "beyond hypocritical." In a message posted on his official Twitter feed, Hague said "empty promises of reform fool no one."

EU foreign policy chief Catherine Ashton's office said in a statement that the bloc will "look carefully if there is anything new in the speech but we maintain our position that Assad has to step aside and allow for a political transition."

Wearing a suit and tie, Assad spoke before a collage of pictures of what appeared to be Syrians who have been killed since March 2011. At the end of his speech and as he was leaving the hall, he was mobbed by a group of loyalists shouting: "With our blood and souls we redeem you, Bashar!"

The president waved and blew kisses to the crowd on his way out.

Assad acknowledged the enormous impact of the conflict, which the United Nations recently estimated had killed more than 60,000 people.

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Chavez swearing-in can be delayed: Venezuelan VP

CARACAS (Reuters) - President Hugo Chavez's formal swearing-in for a new six-year term scheduled for January 10 can be postponed if he is unable to attend due to his battle to recover from cancer surgery, Venezuela's vice president said on Friday.

Nicolas Maduro's comments were the clearest indication yet that the Venezuelan government is preparing to delay the swearing-in while avoiding naming a replacement for Chavez or calling a new election in the South American OPEC nation.

In power since 1999, the 58-year-old socialist leader has not been seen in public for more than three weeks. Allies say he is in delicate condition after a fourth operation in two years for an undisclosed form of cancer in his pelvic area.

The political opposition argues that Chavez's presence on January 10 in Cuba - where there are rumors he may be dying - is tantamount to the president's stepping down.

But Maduro, waving a copy of the constitution during an interview with state TV, said there was no problem if Chavez was sworn in at a later date by the nation's top court.

"The interpretation being given is that the 2013-2019 constitutional period starts on January 10. In the case of President Chavez, he is a re-elected president and continues in his functions," he said.

"The formality of his swearing-in can be resolved in the Supreme Court at the time the court deems appropriate in coordination with the head of state."

In the increasing "Kremlinology"-style analysis of Venezuela's extraordinary political situation, that could be interpreted in different ways: that Maduro and other allies trust Chavez will recover eventually, or that they are buying time to cement succession plans before going into an election.

Despite his serious medical condition, there was no reason to declare Chavez's "complete absence" from office, Maduro said. Such a declaration would trigger a new vote within 30 days, according to Venezuela's charter.

RECOVERY POSSIBLE?

Chavez was conscious and fighting to recover, said Maduro, who traveled to Havana to see his boss this week.

"We will have the Commander well again," he said.

Maduro, 50, whom Chavez named as his preferred successor should he be forced to leave office, said Venezuela's opposition had no right to go against the will of the people as expressed in the October 7 vote to re-elect the president.

"The president right now is president ... Don't mess with the people. Respect democracy."

Despite insisting Chavez remains president and there is hope for recovery, the government has acknowledged the gravity of his condition, saying he is having trouble breathing due to a "severe" respiratory infection.

Social networks are abuzz with rumors he is on life support or facing uncontrollable metastasis of his cancer.

Chavez's abrupt exit from the political scene would be a huge shock for Venezuela. His oil-financed socialism has made him a hero to the poor, while critics call him a dictator seeking to impose Cuban-style communism on Venezuelans.

Should Chavez leave office, a new election is likely to pitch former bus driver and union activist Maduro against opposition leader Henrique Capriles, the 40-year-old governor of Miranda state.

Capriles lost to Chavez in the October presidential election, but won an impressive 44 percent of the vote. Though past polls have shown him to be more popular than all of Chavez's allies, the equation is now different given Maduro has received the president's personal blessing - a factor likely to fire up Chavez's fanatical supporters.

His condition is being watched closely by Latin American allies that have benefited from his help, as well as investors attracted by Venezuela's lucrative and widely traded debt.

"The odds are growing that the country will soon undergo a possibly tumultuous transition," the U.S.-based think tank Stratfor said this week.

(Additional reporting by Marianna Parraga; editing by Christopher Wilson)

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British team flies to Myanmar for buried Spitfire planes

LONDON: A team hunting for a rumoured hoard of World War II Spitfire planes in Myanmar left Britain on Saturday to start the dig, comparing the excitement to the discovery of Tutankhamun's tomb.

The 21-strong team believe there could be 36 of the iconic single-seat British fighter aircraft buried in sealed crates up to 10 metres (33 feet) beneath Yangon airport, a wartime airfield, with more at two other sites in Myanmar.

Britain, the former colonial power in what was then Burma, is thought to have buried the brand new planes in 1945 as they were surplus by the time they arrived by sea.

The dig, set to start at Yangon airport on Monday, has excited military history and aviation enthusiasts around the world.

There are thought to be fewer than 50 airworthy Spitfires left in the world and the digs could potentially double their number if they remain in pristine condition.

Project leader David Cundall told AFP that getting a first glimpse of Spitfire would be like the 1922 discovery of Egyptian pharaoh Tutankhamun's tomb.

"It's similar to the Tutankhamun find in Egypt many years ago and Lord Carnarvon said to Howard Carter when he was looking through the hole 'can you see anything?' , and he said, 'yes, wonderful things', and I'm going to say the same thing," he said.

Cundall, a farmer and aircraft enthusiast, has been on a long chase for the rumoured lost Spitfires.

"We've interviewed eight eyewitnesses pointing to the exact spot," he said.

"Some have told us in great detail how they were buried, the depth and the configuration all fits correctly the location.

"After 17 years you do get a little bit weary but there's now enough energy left in me to finish the project, and I'd like to do it as soon as possible: get the airplanes back to the UK, have them restored and see them flying at airshows."

Speaking at London Heathrow Airport before flying out, lead archeologist Andy Brockman said: "The evidence so far takes us to a particular part of former RAF Mingaladon. What our job is now is to follow those strands of evidence and turn all the rumour and speculation and hypothesis into facts in the ground from the archaeology that we discover."

Cundall's share of any planes found will be 30 per cent, his agents will have 20 per cent, while the Myanmar government will keep 50 per cent, according to agreements they have signed.

"There are very few Spitfires that you can actually say are 100 per cent original; these are brand new Mark XIV Spitfires," he said.

"The fuselages were wrapped in brown paper, grease paper to preserve them, the wooden joints were tarred to keep the water out.

"They did go to an awful lot of trouble to bury these.

"It was a tool of war, yes, but I'm trying to make it a tool of friendship to bring Burma and Britain closer together."

- AFP/xq

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Bigger is better: Wharfedale Diamond 10.5 speakers

Wharfedale Diamond 10.5 speakers

(Credit:
Wharfedale)

Wharfedale is an 80-year-old speaker company, not to mention one of the oldest names in British audio. They make high-end and affordable speakers with prices starting at around $300 a pair. I recently checked out the Wharfedale Diamond 10.5 towers; their curvy cabinets cut a nice figure in the sound room at the In Living Stereo store in NYC. I listened to a few LPs on the stunning new Rega RP8 turntable. The tower speakers sell for $950 a pair.

The Diamond 10.5 is a three-way design with a 6.5-inch woofer, a 2-inch dome midrange, and a 1-inch dome tweeter. It's 33.5 inches high, 8.78 inches wide, and 11.85 inches deep; and it weighs 38 pounds.

The 10.5's sound "fast;" highly detailed, very live, and lifelike. Guitarist Ry Cooder's LPs sounded tonally rich and inviting. I also listened to Kraftwerk's "Computer World" and liked the deep bass textures and the way the stereo image filled the front wall of the room. For the money, it's a very audiophile-oriented sound, but these speakers may not be the best choice for buyers looking for maximum bass punch. The 10.5 is a detail- and clarity-oriented design.

Rega RP8 turntable

(Credit:
Rega)

If you're lucky enough to have a brick-and-mortar hi-fi store in your area, drop by sometime. Better yet, call in advance and talk with a salesperson, and maybe they'll set something up just for you. When it comes to buying audio, listening beforehand and comparing a range of products against each other is a smart strategy.

Wharfedale also offers five less-expensive Diamond series speakers, plus two more-expensive ones, along with home theater models.

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Obama: Not raising debt ceiling could be "catastrophic"

President Obama sternly warned congressional Republicans today that if they don't agree to raise the debt ceiling next month, the consequences could be "catastrophic."

"If Congress refuses to give the United States the ability to pay its bills on time, the consequences for the entire global economy could be catastrophic," the president said in his weekly address. "The last time Congress threatened this course of action, our entire economy suffered for it. Our families and our businesses cannot afford that dangerous game again."

House Ways and Means Committee chairman Rep. Dave Camp, R- Mich., in the Republicans' address suggested simply raising the debt ceiling isn't the answer - major spending cuts are.

"Many of our Democrat colleagues just don't seem to get it," Camp said. "Throughout the fiscal cliff discussions, the President and the Democrats who control Washington repeatedly refused to take any meaningful steps to make Washington live within its means. That position is irresponsible and fails to acknowledge what every family in America already knows - when you have no more money in your account and your credit cards are maxed out, then the spending must stop."

The president also fired a shot across the bow of Republicans who would like to believe that this week's "fiscal cliff" agreement put the tax issue to rest, signaling that any further deficit reduction efforts must again include tax reform that asks the wealthy to pay more. "Spending cuts must be balanced with more reforms to our tax code," said the president. "The wealthiest individuals and biggest corporations shouldn't be able to take advantage of loopholes and deductions that aren't available to most Americans."

It seems this is an issue in which Mr. Obama and congressional Republicans can at least begin to have a conversation. Camp echoed the president on tax reform saying, "we have to start to work on real solutions to return accountability to our tax code by eliminating special interest loopholes."

"I believe in a simple principle," Camp continued. "When it comes to the tax code, everyone should play by the same rules. Your tax rate should be determined by what's fair, not who you know in Washington."

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Debt Limit Negotiating Tactic? No Negotiating

President Barack Obama and Vice President Joe Biden walk away from the podium after Obama made a statement regarding the passage of the fiscal cliff bill in the Brady Press Briefing Room at the White House in Washington, Tuesday, Jan. 1, 2013. (AP Photo/Charles Dharapak)

Analysis

New for 2013: In the Washington, D.C. fiscal wars we’ve gone from everything must be on the table to politicians declaring they won’t debate.

The fiscal cliff deal either averted disaster or compounded the problem, depending on who you ask. It certainly created new mini-cliffs in a few months as Congress and the president square off on the debt ceiling, spending cuts and government funding. But it also made sure the vast majority of Americans won’t see as big a tax hike as they might have.

President Obama was pretty clear late on New Year’s night as he reacted to Congress’s passage of a bill to take a turn away from the fiscal cliff. He won’t negotiate with Republicans about the debt ceiling.

“Now, one last point I want to make,” said the president, before wrapping up and hopping on Air Force One for a redeye to Hawaii. “While I will negotiate over many things, I will not have another debate with this Congress over whether or not they should pay the bills that they’ve already racked up through the laws that they passed.”

(Read more here about the Fiscal Cliff)

That’s pretty clear. No debt ceiling negotiation. Then he added for emphasis: ”Let me repeat: We can’t not pay bills that we’ve already incurred. If Congress refuses to give the United States government the ability to pay these bills on time, the consequences for the entire global economy would be catastrophic — far worse than the impact of a fiscal cliff.”

But in Washington, saying you won’t do something these days has almost become like an opening bid. At least, that’s how Republicans are treating the president’s line in the sand.

“The president may not want to have a fight about government spending over the next few months, but it’s the fight he is going to have because it’s a debate the country needs,” wrote Senate Minority Leader Mitch McConnell, the Kentucky Republican, in an op-Ed on Yahoo! News about 36 hours later. “For the sake of our future, the president must show up to this debate early and convince his party to do something that neither he nor they have been willing to do until now.”

“We simply cannot increase the nation’s borrowing limit without committing to long overdue reforms to spending programs that are the very cause of our debt,” McConnell said.

The national debt is soon set to reach $16.4 trillion. That’s not a problem that can be solved with one bill or budget. And the two sides will have to figure out some sort of way to talk about entitlement/social safety net reform – meaning things like Medicare, Medicaid, and Social Security – in addition to cutting spending and, most importantly, hope for an improving economy, to deal with those deficits.

House Speaker John Boehner, who has several times now failed to reach a big, broad fiscal deal with President Obama, told colleagues, according to The Hill newspaper, that he’s done with secret White House negotiations. He wants to stick with the constitutional way of doing things, with hearings and bills that are debated on Capitol Hill rather than hatched by the vice president and Senate Republicans.

Okay. Obama won’t negotiate on the debt ceiling. McConnell won’t not negotiate on the debt ceiling. Boehner doesn’t to do things by the book.

But McConnell won’t negotiate on taxes any more.

“Predictably,” McConnell had written earlier in his post, “the president is already claiming that his tax hike on the ‘rich’ isn’t enough. I have news for him: the moment that he and virtually every elected Democrat in Washington signed off on the terms of the current arrangement, it was the last word on taxes. That debate is over.”

It’s a new chapter in the ongoing fiscal saga in Washington. Back when the two sides were talking about a grand bargain or a big deal – some sort of all-inclusive reform that would right the listing deficit with one flip of the rudder – the popular trope was that “everything must be on the table.” That’s basically how Obama put it back in the summer of 2011 when he and Boehner failed to reach a grand bargain. He wanted higher taxes – they were calling them revenues back then. More recently, after Obama won the election and when he and Boehner were trying to hammer out another grand bargain to avert the fiscal cliff, Boehner wanted entitlements on the table. That means he wanted to find ways to curb future spending.

Both sides are declaring they won’t debate certain points, but this far – a full two months – before the mini-cliffs start, those are easier declarations to make than they will be when the government is in danger of defaulting or shutting down.

Even though they’re trying to take elements off the table, both men hope that coming negotiations can be a little more cordial and a little less down-to-the wire.

“Over the next two months they need to deliver the same kind of bipartisan resolution to the spending problem we have now achieved on revenue — before the 11th hour,” wrote McConnell.

“The one thing that I think, hopefully, in the New Year we’ll focus on is seeing if we can put a package like this together with a little bit less drama, a little less brinksmanship, not scare the heck out of folks quite as much,” said Obama.

That’ll be tough if neither side will talk about what the other side wants to talk about.

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Damascus blames "terrorists" for petrol station blast

BEIRUT (Reuters) - Syria on Friday said a car bomb at a crowded petrol station in Damascus on Thursday night was set off by "terrorists", a term it uses for rebels seeking to topple President Bashar al-Assad.

The bomb killed 11 people and wounded 40 at a station packed with Syrians queuing for fuel, which has become scarce in the 21-month insurgency against Assad, in the second petrol station attack in the capital this week, opposition activists said.

"Terrorists ... blew up an explosive device at Qassioun Petrol Station near Hamish Hospital in Barzeh, Damascus, martyring several civilians," state news agency SANA said.

The United Nations says more than 60,000 people have been killed in the civil war, the longest, bloodiest conflict born from uprisings across the Arab world in the past two years.

Dozens of people were incinerated in an air strike as they waited for fuel at another Damascus petrol station on Wednesday, according to opposition sources.

The semi-official al-Ikhbariya television station aired its own footage from Barzeh, indicating the attack struck a government-held area. Barzeh's residents include members of the Sunni Muslim majority and religious and ethnic minorities.

The rebels hold a crescent of suburbs on the southern and eastern edges of Damascus, which have come under bombardment by government forces. Rebel forces also seized territory in Syria's north and east during advances in the second half of 2012.

The war pits rebels, mainly from the Sunni Muslim majority, against a government supported by members of Assad's Shi'ite-derived Alawite sect and some members of other minorities who fear revenge if he falls. Assad's family has ruled for 42 years since his father seized power in a coup.

Fighting has forced 560,000 Syrians to flee to neighboring countries, according to the U.N.

Lebanon, a country which has so far tried to distance itself from the conflict next door for fear it will inflame sectarian tensions, approved a plan to start registering 170,000 Syrian refugees and ask international donors for $180 million in aid.

"The Lebanese state will register the refugees...and guarantee aid and protection for the actual refugees in Lebanon," Social Affairs Minister Wael Abu Faour said after a six-hour cabinet session on Thursday night.

Most Sunni-ruled Arab states, as well as the West and Turkey have called for Assad to step down. He is supported by Russia and Shi'ite Iran.

ARMY WITHDRAWAL?

A Lebanese citizen who crossed into Syria through a mountainous frontier region said the army appeared to have withdrawn from several border posts and villages in the area.

Rebels controlled a line of border towns and villages north of the capital Damascus, stretching about 40 km (25 miles) from Yabroud south to Rankus, said the man, who did not want to be named and visited Syria on Wednesday and Thursday.

Rebels in the area reported that some of Assad's forces have pulled back to defend the main north-south highway linking Syria's main cities of Damascus, Homs, Hama and Aleppo, while others were sent to reinforce the northern approach to Damascus.

"The border is controlled by the Free Syrian Army rebels," he said on Friday, adding he had crossed through mountainous terrain, covered in parts by more than a meter of snow.

(Additional reporting by Dominic Evans in Beirut and Khaled Yacoub Oweis in Amman; Editing by Jason Webb)

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Primary schools to receive new teachers twice a year

SINGAPORE: From 2015, primary schools will receive a new batch of teachers twice each year - instead of the current arrangement where new teachers are deployed in June - following changes to the timing of the annual intake of the Postgraduate Diploma in Education (PGDE) (Primary) programme.

The PGDE (Primary) programme is a one-year diploma course conducted at the National Institute of Education. Currently, its graduates are deployed along with their counterparts in the Diploma in Education and Bachelor of Arts (Education) or Bachelor of Science (Education) programmes.

With the change, graduates from the PGDE (Primary) will be posted to their schools in January, instead of June.

Responding to TODAY's queries, the Ministry of Education (MOE) said the key reason for the change is to "better support the schools' manpower needs at the primary level".

Its spokesperson said: "This will allow for two batches of trained teachers to graduate from the different programmes in NIE to be posted to the primary schools ... each year, thereby reducing the schools' waiting time to fill vacancies for trained teachers."

To effect the change, the intake for PGDE (Primary) will be shifted from July to January - starting this year.

The MOE spokesperson said that email notifications were sent in April last year to those who were due to enrol in the programme in July this year - many of whom are currently doing contract teaching - but will now start their course in January next year.

"School leaders with untrained teachers in their schools affected by this change were similarly informed," she said.

While primary school principals whom TODAY spoke to welcomed the change, one untrained teacher who had been due to start the PGDE (Primary) programme this year was upset that he has to wait another six months to begin classes.

The 30-year-old teacher, who wanted to be known only as Mr Tan, said he found out about the change in February last year after MOE replied to his email query on the starting date of his course.

He claimed that he has not received an official notification.

After spending the past year doing contract teaching, Mr Tan said he would have to continue for another year because of the change.

It is not clear how many prospective trainee teachers are affected by the shift in the timing of the intake this year, as the MOE did not reply to queries on the intake size of the PGDE (Primary).

The current teaching force is about 33,000 strong. On average, 2,000 new teachers are recruited each year.

Principals said the change was timely, given how more teachers are taking up MOE initiatives such as the Part-Time Teaching Scheme (PTTS), and the enhanced Professional Development Leave (PDL) scheme which allow teachers with at least six years' service to take leave at half pay to undergo professional development.

Punggol View Primary Principal Kelvin Tay said: "Having two batches would ease issues that come up when teachers are away, such as on maternity leave or professional development, and it would help fill deployment gaps."

As the school calendar begins in January, Nanyang Primary School Principal Lee Hui Feng noted that getting new teachers in the same month will reduce changes to teaching personnel in the middle of the school year.

- TODAY/xq

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Samsung, LG fined $35 million over alleged price fixing

Samsung and LG Display have been fined by the Chinese government over charges that they fixed the prices of LCD panels.

China's National Development and Reform Commission fined Samsung $16.2 million and LG $18.6 million, according to the Yonhap News Agency.

Also included in the fines for price fixing were four Taiwanese firms -- Chi Mei Optoelectronics, AU Optronics, Chunghwa Picture Tubes Ltd., and HannStar Display. The total fine levied against all six companies reached $56 million.

The display makers were accused of fixing prices on LCD panels that they sold to Chinese TV makers from 2001 to 2006. From the total amount of fines, $27 million was paid to nine TV makers as a refund, officials told Yonhap News.

"From 2001 to 2006, six companies involved held a total of 53 rounds of 'Crystal Conferences,' claiming that they exchange information on the global LCD panel market," an official with the National Development and Reform Commission said. "Those involved turned out to have negotiated prices or manipulated prices, hampering the legitimate rights and interests of other parties and consumers."

Samsung, LG, and the other display makers now have to extend the unpaid warranty period for the TV makers and have promised to abide by Chinese law.

A Samsung spokesman declined to comment to Yonhap. But an LG spokesman told the news agency that "to prevent a recurrence of such problems, LG Display has been mending policies and executing them, and remains committed to operating with compliance and transparency."

CNET contacted Samsung and LG for comment and will update the story if we receive any information.

All six display makers have already faced hefty fines in other parts of the world over the same price fixing scheme.

In 2008, LG, Sharp, and Chunghwa Picture Tubes pleaded guilty to the price fixing charges and were forced by the U.S. Department of Justice to pay a fine of $585 million.

In 2010, LG, AU Optronics, Chimei InnoLux, Chunghwa Picture Tubes, and HannStar Display were fined around $856 million by the European Commission, which called them a "price fixing cartel." Samsung was also cited but escaped the fine by providing information about the cartel.

In October 2011, the six companies were fined $176 million in South Korea. In December of that year, Sharp, Samsung, and other LCD makers settled a price-fixing case in the U.S. that cost them almost $400 million.

And just last month, LG, Samsung, and others were fined $1.9 billion by the European Commission over the same charges.

The EC found that the companies had formed two cartels, each designed to fix prices, limit production, or share markets and customers between them. One cartel handled cathode-ray tubes for TVs, while the other took care of computer monitors.

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