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Freddie Mac posts $6b loss

07 Nov 2009, 4:10PM

The troubled US mortgage finance giant Freddie Mac has lost $A6.9 billion for shareholders but is not seeking further government bailout funds.

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Fannie Mae posts $18.9 billion Q3 loss

US home loan provider Fannie Mae has posted an US$18.9bn quarterly loss. (Getty)

06 Nov 2009, 9:18AM

Fannie Mae, the largest provider of funding for U.S. home loans, has said it will be asking for another US$15bn in taxpayer funds. Read more

Super help for small businesses

06 Nov 2009, 8:51AM

Small business operators will have access to a free superannuation clearing house service from July 2010. Read more

Ericsson to close Nortel deal 'very soon'

06 Nov 2009, 7:29AM

Telecom equipment maker Ericsson expects to close its acquisition of key assets of bankrupt Nortel Networks Corp shortly, a senior company executive said. Read more

RBA chief backs govt's stimulus action

06 Nov 2009, 9:10AM

The Reserve Bank of Australia chief has given his full backing to the stimulus actions taken by the Rudd government. Read more

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Corruption costs poorer states up to $40 billion a year

08 Nov 2009, 4:47AM

DOHA (Reuters) - Corruption costs developing nations $20 to $40 billion each year, while emerging markets and financial centers are increasingly havens for stolen assets, a top World Bank official said Saturday. Read more

UK gives ground on global tax on banks

07 Nov 2009, 11:14PM

ST ANDREWS, Scotland (Reuters) - World governments should consider urgently a levy on banks to fund future bailouts, British Prime Minister Gordon Brown said on Saturday, departing from London's longstanding resistance to a global tax. Read more

Stocks eye retailers as jobless ranks swell

07 Nov 2009, 10:59AM

NEW YORK (Reuters) - As unemployment in the United States edges above 10 percent, anxious investors will look to earnings reports from major retailers for signs of life in the beaten-up consumer. Read more

Freddie Mac posts $5 billion loss

07 Nov 2009, 9:57AM

NEW YORK (Reuters) - Freddie Mac , the second largest provider of U.S. residential mortgage funding, said on Friday it lost $5 billion in the third quarter and predicted it would require further support from the Treasury amid a "prolonged deterioration" in housing. Read more

Sun Micro sales fall, Oracle deal delay stings

07 Nov 2009, 8:57AM

NEW YORK (Reuters) - Computer maker Sun Microsystems Inc suffered a 25 percent fall in quarterly revenue, as uncertainty over its delayed sale to Oracle Corp hurt its business. Read more

SEC sees evolution in insider trading

07 Nov 2009, 6:21AM

NEW YORK (Reuters) - A top U.S. securities regulator said some funds may now view insider trading as a central tenet of their business models, rather than as a one-time opportunity for big rewards as sometimes happened in the 1980s. Read more

Blackstone posts profit; sees more deals ahead

07 Nov 2009, 1:14AM

NEW YORK (Reuters) - Private equity firm Blackstone Group LP posted a quarterly profit, topping expectations and reversing a year-earlier loss, and said it expects to do more deals following an improvement in the lending markets. Read more

AIG posts second consecutive quarterly profit

06 Nov 2009, 11:26PM

NEW YORK (Reuters) - American International Group Inc , the insurer bailed out by the U.S. government, posted its second-straight quarterly profit on Friday, helped by recovery in the value of its investments. Read more

G20 finmins to pledge stimulus stays, look at growth

06 Nov 2009, 10:28PM

ST ANDREWS, Scotland (Reuters) - The Group of 20 leading nations will agree this weekend it is too early to pull the plug on emergency support for the global economy and launch a new system of checks to help rebalance world growth and prevent future crises. Read more

RBS's Q3 loss halves but more bad debts to come

06 Nov 2009, 7:18PM

LONDON (Reuters) - Royal Bank of Scotland more than halved its operating losses to 1.5 billion pounds ($2.5 billion) in the third quarter as impairments fell, but less favorable trading battered investment banking profits. Read more