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40 minutes ago NEW YORK (Reuters) - Standard & Poor's and Fitch Ratings on Sunday cut the ratings on preferred stock of troubled housing finance companies Fannie Mae (FNM.N) and Freddie Mac (FRE.N) to junk status after dividends were eliminated in a tak..
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By Steven C. Johnson Sun Sep 7, 11:57 AM ET NEW YORK (Reuters) - The bears have been in firm control on Wall Street so far in September, and with anxiety about the health of the United States and world economies on the rise, they probably will not choos..
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By Gina Keating Sun Sep 7, 3:32 AM ET LOS ANGELES (Reuters) - Thomas O'Brien, the U.S. Attorney for California's Central District, is emerging as a likely prosecutor in criminal cases expected from the U.S. mortgage meltdown.
In the past, he has faced..
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By Bill Rigby and Daisuke Wakabayashi Sun Sep 7, 4:54 AM ET NEW YORK/EVERETT, Washington (Reuters) - Boeing Co's (BA.N) 27,000-strong machinists' union walked off the job on Saturday after the plane maker failed to improve its contract offer following t..
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By Glenn Somerville 1 hour, 36 minutes ago WASHINGTON (Reuters) - The U.S. government on Sunday seized control of mortgage finance companies Fannie Mae (FNM.N) and Freddie Mac (FRE.N), in what could be the biggest federal bailout in U.S. history in a bi..
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Sat Sep 6, 5:32 AM ET LONDON (Reuters) - Germany's Media Markt, Europe's biggest electrical goods retailer, has rejected a request from DSG International Plc (DSGI.L) to consider a bid for its closest rival, the Financial Times said on its Web site.
Th..
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By Giancarlo Navach 17 minutes ago CERNBOBBIO (Reuters) - Alitalia's (AZPIa.MI) adviser will soon present its rescue plan for the airline to British Airways (BAY.L), considered by Italy as a possible foreign partner for the bankrupt airline, an executiv..
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Donald Jay Korn Fri Sep 5, 6:25 PM ET In the past year, the credit crunch has spread from mortgages to student loans and other types of debt. Home equity lines of credit have been reeled in.
Still, there is one place where you can generally easily get..
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Fri Sep 5, 5:14 PM ET NEW YORK (AFP) - Wall Street shares recovered from steep early losses and finished mostly higher Friday as the market was able to shake off a jump in unemployment that sparked renewed fears of a US recession.
Some analysts said th..
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Fri Sep 5, 11:39 PM ET NEW YORK (Reuters) - Citigroup (C.N) could sell its Primerica financial services unit and its First American banking subsidiary in Texas as the bank continues to restructure its business, Ladenburg Thalmann analyst Richard Bove sa..
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Fri Sep 5, 9:22 PM ET NEW YORK (Reuters) - Maurice "Hank" Greenberg, the former CEO of American International Group Inc (AIG.N), could face a fine of up to $100 million to settle three-year-old civil fraud charges brought by New York's attorney general,..
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By Bill Rigby and Laura Myers 1 hour, 36 minutes ago NEW YORK/EVERETT, Washington (Reuters) - Boeing Co's (BA.N) 27,000-strong machinists' union walked off the job on Saturday after the plane maker failed to improve its contract offer after two days of..
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By Glenn Somerville and Al Yoon Sat Sep 6, 1:04 AM ET WASHINGTON/NEW YORK (Reuters) - The U.S. government plans to put government sponsored mortgage finance companies Fannie Mae (FNM.N) and Freddie Mac (FRE.N) under federal control, the New York Times a..
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By Michael Mackenzie in New York 2 hours, 36 minutes ago One of Wall Street's tenuous beliefs is to sell stocks in May and not to return to the market until late October.
This week, as the major US indices returned to official bear territory, defined a..
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6 minutes ago CHICAGO (Reuters) - General Electric Co (GE.N) said on Friday it had been notified by U.S. regulators that a civil complaint could be filed against the company following a more than three-year-long probe into its use of hedge accounting fo..
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By Bill Rigby and Laura Myers 28 minutes ago NEW YORK/EVERETT, Washington (Reuters) - Boeing Co's (BA.N) machinists prepared for a strike on Friday as the plane-maker and its largest union tried to hammer out a last-ditch deal on their latest three-year..
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38 minutes ago WASHINGTON (Reuters) - The U.S. Treasury Department is close to finalizing a plan to buttress mortgage finance companies Fannie Mae (FNM.N) and Freddie Mac (FRE.N), the Wall Street Journal reported on Friday.
Citing people familiar with..
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By Svea Herbst-Bayliss Fri Sep 5, 11:51 AM ET BOSTON (Reuters) - A Citadel Investment Group LLC executive who ran an unprofitable credit investment group for the large hedge fund company has resigned, a person familiar with the matter said on Friday.
J..
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By ALAN ZIBEL, AP Business Writer 1 hour, 5 minutes ago WASHINGTON - A record 9 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of June, as damage from the housing crisis continues to moun..
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37 minutes ago NEW YORK (Reuters) - Continental Airlines Inc (CAL.N) said on Friday it will charge a $15 service fee for a first checked bag for certain customers who buy economy-class tickets.
The fee applies immediately to tickets bought for destinat..
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