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Treasury near GSE bailout plan: report (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. Treasury Department is close to finalizing a plan to buttress mortgage finance companies Fannie Mae and Freddie Mac , The Wall Street Journal reported on Friday.


Jobless rate at 5-year high (Reuters)

The U.S. unemployment rate unexpectedly shot up to 6.1 percent in August, its highest in more than 4-1/2 years, as employers cut payrolls for an eighth straight month and labor markets showed signs of accelerating decline. (Graphic/Reuters)Reuters - An unexpectedly steep 84,000 U.S. jobs were lost in August and the unemployment rate hit a five-year high of 6.1 percent, fanning worry ahead of November's presidential vote that the economy was near recession.


Boeing workers prepare to strike as deadline nears (Reuters)

Boeing machinist Jim Anderson prepares strike signs at machinists union headquarters in Seattle, Washington, September 3, 2008. (Robert Sorbo/Reuters)Reuters - Boeing Co's 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 contract.


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.Dow, S&P end higher on financials, down for week (Reuters)

Traders work on the floor of the New York Stock Exchange, June 24, 2008. (Brendan McDermid/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.
 
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