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U.S. to take control of Fannie and Freddie: reports (Reuters)

A combination image showing (clockwise from top L) Treasury Secretary Henry Paulson, Senator Harry Reid, Senator Christopher Dodd and Representative Barney Frank. (Shannon Stapleton - Top L/Joshua Roberts - Top R/Carlos Barria - bottom R/Jonathan Ernst - bottom L/Reuters)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.


Boeing machinists walk off the job as talks fail (Reuters)

Boeing machinist Rebekah LovellFord pickets in front of the company's Renton, Washington plant September 6, 2008. (Robert Sorbo/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.


Alitalia adviser to meet BA on rescue plan: report (Reuters)

A British Airways aircraft taxis past BA tail-fins at Heathrow Airport, west London, July 29, 2008. (Toby Melville/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.


Greenberg could pay fine of up to $100 million: report (Reuters)

Maurice Greenberg speaks at a luncheon on American competitiveness in the global market at the New York Law School in New York April 24, 2006. (Keith Bedford/Reuters)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.


GE gets "Wells notice" in SEC accounting probe (Reuters) 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.
 
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