Yahoo! News: Business
Government seizes control of GSEs
(Reuters)
Reuters - The U.S. government on Sunday seized
control of mortgage finance companies Fannie Mae and
Freddie Mac , in what could be the biggest federal
bailout in U.S. history in a bid to support the U.S. housing
market and ward off more global financial market turbulence.
Boeing machinists walk off the job as talks fail
(Reuters)
Reuters - Boeing Co`s
27,000-strong machinists` union walked off the job on Saturday
after the plane maker failed to improve its contract offer
following two days of emergency talks.
Prosecutor becomes figure in mortgage mess
(Reuters)
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.
GSE rescue could scare bears
(Reuters)
Reuters - Bears have reigned supreme on Wall
Street so far in September thanks to growing concern about
economies worldwide, but their grip on stocks faces a big
challenge after the U.S. government`s weekend seizure of
control of mortgage finance giants Fannie Mae and Freddie Mac.
Alitalia adviser to meet BA on rescue plan: report
(Reuters)
Reuters - Alitalia`s (AZPIa.MI) adviser will
soon present its rescue plan for the airline to British Airways
, considered by Italy as a possible foreign partner for
the bankrupt airline, an executive told a newspaper.
Dow, S&P end higher on financials, down for week
(Reuters)
Reuters - NEW YORK (Reuters) -The broader U.S. stock market edged
higher on Friday, but still posted its worst week since May, as
a rally in financial stocks helped reverse losses sparked by a
government report showing the U.S. jobless rate rose to a
five-year high.
More Cons Than Pros To 401(k) Loan
(Investor`s Business Daily)
Investor`s Business Daily - 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.
DSG sought bid from Media Markt, but rebuffed: report
(Reuters)
Reuters - Germany`s Media Markt, Europe`s biggest
electrical goods retailer, has rejected a request from DSG
International Plc to consider a bid for its closest
rival, the Financial Times said on its Web site.