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 - 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.
AP - The U.S. military said Sunday it has new evidence about civilian casualties from an American attack that Afghanistan says killed scores of women and children and it is sending a senior officer to the country to review its initial finding that no more than seven civilians died.
AP - Haitians took to their roofs to escape rising floodwaters for the second time in a week on Sunday as squalls from Hurricane Ike killed 58 people and collapsed a bridge that cut the last land route into the starving city of Gonaives.
AP - The Bush administration said Sunday it sees no wisdom now in ending an economic embargo against Cuba, a longtime demand the Havana government renewed as a way to speed aid after Hurricane Gustav swamped the island.
AP - Hong Kong’s pro-democracy camp has won more than a third of seats in legislative elections, retaining its veto power over major legislation.
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AFP - Andy Murray advanced to his first Grand Slam final by stunning world number one Rafael Nadal in a US Open semi-final, booking a date with reigning champion Roger Federer on Monday.
AP - As of Sunday, Sept. 7, 2008, at least 4,155 members of the U.S. military have died in the Iraq war since it began in March 2003, according to an Associated Press count.