WASHINGTON (Reuters) - The Federal Reserve was unsure last month whether lower borrowing costs were needed to cushion the U.S. economy from a housing slump and credit market woes but, in a "close call," decided to cut interest rates as an insurance policy, minutes of the meeting released on Tuesday show.
WASHINGTON (Reuters) - Freddie Mac , the second-largest U.S. mortgage finance company, on Tuesday posted a wider third-quarter loss and said it may slash its dividend and raise new capital as it works through what it called an "extremely difficult year" for housing and credit markets.
NEW YORK (Reuters) -U.S. stock indexes turned positive again late on Tuesday, as energy companies such as Exxon Mobil rallied sharply on rising oil prices.
NEW YORK (Reuters) - Countrywide Financial Corp shares plummeted as much as 22 percent on Tuesday to their lowest level in more than seven years on speculation that the largest U.S. mortgage lender was running short of cash.
DETROIT (Reuters) - United Auto Workers President Ron Gettelfinger on Tuesday said the union expects to begin talks with the Detroit automakers next year on buyouts and early retirement offers for union-represented factory workers.
NEW YORK (Reuters) - H&R Block Inc replaced Chairman and Chief Executive Mark Ernst on Tuesday following mounting subprime mortgage losses and criticism that the largest U.S. tax preparer had strayed far beyond its roots.
WASHINGTON (Reuters) - Groundbreaking for U.S. housing rebounded in October but permits for future building hit a 14-year low, indicating the grim market for home construction will likely continue to worsen.
NEW YORK (Reuters) - Target Corp posted a surprise drop in quarterly earnings on Tuesday, hurt by weak sales of higher-profit items like clothes and home goods, and said it expects "quite modest" earnings growth for the crucial holiday fourth quarter.
NEW YORK (Reuters) - D.R. Horton Inc , the largest U.S. home builder, reported a quarterly loss on Tuesday on charges related to lower land value, and its stock sank after dire comments from one of the biggest mortgage buyers.
NEW YORK (Reuters) - Office Depot Inc , the world's second-largest office supplies retailer, reported a lower quarterly profit on Tuesday as U.S. same-store sales fell and promotions pressured margins.
