Reuters - Shares in Asian banks soared on Monday after the U.S. government took over Fannie Mae and Freddie Mac , reassuring investors worried about exposure to the mortgage giants' bonds and the value of other risky debt assets.

Reuters - The U.S. government on Sunday seized control of mortgage finance companies Fannie Mae and Freddie Mac launching what could be its biggest bailout ever to support the U.S. housing market and ward off more global financial market turbulence.

Reuters - Shares in Asian banks soared on Monday after the U.S. government took over Fannie Mae and Freddie Mac , reassuring investors worried about exposure to the troubled mortgage giants' bonds and the value of other risky debt assets.

Reuters - Washington Mutual Inc , the largest U.S. savings and loan, is replacing Chief Executive Kerry Killinger, making him the latest high-profile casualty of the credit crisis, the Wall Street Journal reported on its website on Sunday.

Reuters - Boeing Co's 27,000 machinists prepared for a third day of strike action, halting production at the plane maker's Seattle-area plants in protest at Boeing's contract offer and what they see as plans to shift more jobs to non-union and foreign companies.

Reuters - The U.S. government on Sunday seized control of mortgage finance companies Fannie Mae and Freddie Mac , launching what could be its biggest bailout ever in a bid to support the U.S. housing market and ward off more global financial market turbulence.

Reuters - Lehman Brothers Holdings Inc said on Sunday it has named Eric Felder and Hyung Soon Lee as global co-heads of fixed income, following the departure of current global head Andrew Morton.

Reuters - Standard & Poor's and Fitch Ratings on Sunday cut the ratings on preferred stock of troubled housing finance companies Fannie Mae and Freddie Mac to junk status after dividends were eliminated in a takeover by the U.S. government.

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.

Reuters - The U.S. government on Sunday seized control of mortgage finance companies Fannie Mae and Freddie Mac in an aggressive move to help the distressed U.S. housing market and economy.