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Reuters - The U.S. government plans
to put government sponsored mortgage finance companies Fannie
Mae and Freddie Mac under federal control, the
New York Times and Washington Post newspapers reported late
Friday, in what could be the largest financial bailout in the
nation's history.
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
after two days of emergency talks.
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.
Reuters - Maurice "Hank" Greenberg, the former
CEO of American International Group Inc , could face a
fine of up to $100 million to settle three-year-old civil fraud
charges brought by New York's attorney general, according to
business news channel CNBC on Friday.
Reuters - General Electric Co 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 for
derivatives and other accounting matters.
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.
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.
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.