NEW YORK (Reuters) - Wells Fargo & Co , the second-largest U.S. mortgage lender, said on Tuesday it expects to incur a $1.4 billion pretax charge in the fourth quarter, largely for higher losses related to home equity loans.
NEW YORK/DUBAI (Reuters) - Citigroup Inc is selling up to 4.9 percent of itself for $7.5 billion to the Gulf Arab emirate of Abu Dhabi, giving the largest U.S. bank fresh capital as it wrestles with the subprime mortgage crisis and a search for a new chief executive.
CHICAGO (Reuters) - Two Federal Reserve Bank officials hinted strongly on Tuesday that they would not support an interest rate cut in December, contending that the Fed has provided enough insurance against financial turmoil and would risk opening the door to higher inflation.
WASHINGTON (Reuters) - Housing and credit troubles took more of a toll on the U.S. economy as prices on pre-owned single-family homes tumbled in the third quarter and consumer confidence in November sank to a two-year low, reports on Tuesday showed.
NEW YORK (Reuters) - Freddie Mac , the second biggest provider of money for U.S. home loans, on Tuesday said it cut its dividend by half and will sell $6 billion of preferred stock to buoy capital levels.
NEW YORK (Reuters) - Stocks rose on Tuesday after Abu Dhabi's $7.5 billion purchase of a stake in Citigroup Inc spurred a rebound in financial stocks and a drop in oil prices boosted shares of big manufacturers.
WASHINGTON (Reuters) - Members of the Federal Communications Commission were weighing a possible compromise on Tuesday after balking at a proposal by the agency's chairman that would open the door to tougher regulation of cable television operators.
SANTA MONICA, California (Reuters) - British retailer Tesco's U.S stores have started well, it said on Tuesday, as the chain faced new protests from community groups who fear its marketing promises are not being translated into reality.
NEW YORK (Reuters) - Countrywide Financial Corp , the largest U.S. mortgage lender, moved to reassure investors on Tuesday that it is not borrowing too much and will not be constrained in its ability to provide home loans.
