Business News

U.S. seizes Fannie and Freddie
The U.S. government on Sunday seized control of mortgage finance companies Fannie Mae <FNM.N> and Freddie Mac <FRE.N>, launching what could be its biggest bailout ever to support the U.S. housing market and ward off more global financial market turbulence. Fannie-Freddie bailout whets hunger for risk
HONG KONG (Reuters) - Asian stocks surged 4 percent on Monday after Washington bailed out Fannie Mae and Freddie Mac to salvage the U.S. housing market, spurring investors to buy back risky assets and sell safe havens such as government bonds. FTSE seen opening higher
The FTSE 100 index <.FTSE> is seen opening as much as 3.4 percent higher on Monday, according to financial bookmakers, after the U.S. government on Sunday seized control of mortgage finance companies Fannie Mae <FNM.N> and Freddie Mac <FRE.N>. Nationwide in merger talks with rivals
Nationwide Building Society <NAT.UL>, one of Britain's biggest home-loan leaders, said on Sunday that it was in advanced talks over proposed mergers with both the Derbyshire and the Cheshire Building Societies. S.Korea says may OK HSBC's KEB deal soon
South Korea may give the go-ahead to HSBC's <HSBA.L> $6.3 billion (3.5 billion pounds) offer to buy control of Korea Exchange Bank (KEB) in the near future if it finds no faults with documents submitted by the companies involved, a regulator said on Monday. Altria seen buying UST
(Reuters) - Cigarette maker Altria Group <MO.N> has agreed to buy Skoal and Copenhagen smokeless tobacco maker UST <UST.N> for about $10.3 billion (5.75 billion pounds) in cash, the Wall Street Journal said, citing people familiar with the matter. ConocoPhillips says will not make bid for Origin
ConocoPhillips <COP.N> was not interested in making a takeover bid for Australian energy firm Origin Energy <ORG.AX> even if there was a chance of success, the U.S. energy major said on Monday. Barclaycard sees end of road for plastic cards
The country's biggest credit card provider Barclaycard is to boost its contactless payment system which it believes will mean the physical plastic credit card will die out in the foreseeable future. Boeing strike threatens global aero industry
EVERETT, Washington/NEW YORK (Reuters) - Boeing's <BA.N> 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. Morrison to top growth league
Wm Morrison Supermarkets <MRW.L> is set to post a 19 percent rise in first-half underlying profit on Thursday and confirm it is taking market share from bigger rivals as cash-strapped shoppers flock to its lower price stores.