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Mortgage giants Fannie Mae and Freddie Mac _ despite their robust cadre of economists and mortgage experts _ failed to heed warnings that the most dramatic housing bubble in U.S. history would burst.

The companies _ particularly Freddie Mac _ didn't raise enough cash to reassure Wall Street that they would be able to withstand a severe downturn in U.S. home prices.

As their losses started rising at alarming rates, investors simply lost confidence, forcing the government's historic takeover of the two companies, which could be announced as soon as Sunday.

Fresh indicators from the Organisation for Economic Cooperation and Development Friday pointed to a weakening of the economic outlook for the G7 group of industrialised countries but a boost for some big ...

Bank of America Corp. said Friday it is ready to settle federal and state investigations into sales of risky auction-rate securities, joining eight other big investment banks that have agreed to buy back a ...

Stocks that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market: NYSE Merrill Lynch & Co., up 52 cents at $26.73 Merrill Lynch rebounded to end the day higher as ...

Wall Street may be poised for a rally Monday as rumors swirled Friday about a possible weekend rescue plan for troubled mortgage finance giants Fannie Mae and Freddie Mac.

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 ...

HOME > NEWS / SHOWBIZ > UK NEWS > FTSE hit by worst week in six years UK NEWS FTSE 100 Index suffers worst week for over six years The UK's biggest companies have slid to more stock market losses in the worst ...

Nomura Holdings Inc., Japan's largest brokerage group, is considering buying a stake in U.S. investment bank Lehman Brothers, a Japanese newspaper reported Saturday.

Nomura has funds exceeding more than $1.87 billion (200 billion yen) for investment or acquisition of U.S. and European financial institutions, and considering Lehman as 'one of investment candidates,' the Japanese newspaper Yomiuri said, quoting Nomura president Kenichi Watanabe as saying.

Nomura plans to confirm Lehman's earnings results for the latest quarter, expected as early as next week, and studying subsequent share price movements before making a final decision of whether to make an offer, the Yomiuri said.

A pedestrian walks by sale signs in downtown Seoul, South Korea, Friday, Sept. 5, 2008.

WASHINGTON (Reuters) - Regulators closed Silver State Bank on Friday, the 11th U.S. bank to fail this year as the struggling economy and falling home prices take their toll on financial institutions.

The Federal Deposit Insurance Corp said the Henderson, Nevada bank had $2 billion in assets and $1.7 billion in deposits as of June 30. The failure is expected to cost the FDIC deposit insurance fund between $450 million and $550 million.

Nevada State Bank, which is based in Las Vegas, has agreed to assume the insured deposits, which do not include about $700 million in volatile, high-cost funds called brokered deposits.