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.

Reuters - U.S. Treasury Secretary Henry Paulson and Federal Housing Finance Agency Director James Lockhart will hold a news conference at 11 a.m. on Sunday, the Treasury Department said.

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.

Reuters - The U.S. government plans to take over Fannie Mae and Freddie Mac and all shareholders of the two mortgage giants will take a hit, an influential lawmaker said on Saturday.

Reuters - The boards of mortgage finance companies Fannie Mae and Freddie Mac were set to meet on Saturday to discuss a government plan to place the companies under federal control, sources said.

Reuters - Fannie Mae and Freddie Mac shareholders, including preferred stockholders, will not fair well under a proposed U.S. Treasury takeover of the two housing finance companies, House Financial Services Committee Chairman Barney Frank told Reuters on Saturday.

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.

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 - 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 - 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.