U.S. to take control of Fannie and Freddie: reports (Reuters)

Reuters - The U.S. government plans to put government sponsored mortgage finance companies Fannie Mae and Freddie Mac under federal control, the New York Times and Washington Post newspapers reported late Friday, in what could be the largest financial bailout in the nation's history.

Boeing machinists walk off the job as talks fail (Reuters)

Reuters - Boeing Co's 27,000-strong machinists' union walked off the job on Saturday after the plane maker failed to improve its contract offer following two days of emergency talks.

Alitalia adviser to meet BA on rescue plan: report (Reuters)

Reuters - Alitalia's (AZPIa.MI) adviser will soon present its rescue plan for the airline to British Airways , considered by Italy as a possible foreign partner for the bankrupt airline, an executive told a newspaper.

Greenberg could pay fine of up to $100 million: report (Reuters)

Reuters - Maurice "Hank" Greenberg, the former CEO of American International Group Inc , could face a fine of up to $100 million to settle three-year-old civil fraud charges brought by New York's attorney general, according to business news channel CNBC on Friday.

GE gets "Wells notice" in SEC accounting probe (Reuters)
Reuters - General Electric Co said on Friday it had been notified by U.S. regulators that a civil complaint could be filed against the company following a more than three-year-long probe into its use of hedge accounting for derivatives and other accounting matters.

Wall Street bounces back from dismal jobs report (AFP)

AFP - Wall Street shares recovered from steep early losses and finished mostly higher Friday as the market was able to shake off a jump in unemployment that sparked renewed fears of a US recession.

More Cons Than Pros To 401(k) Loan (Investor's Business Daily)
Investor's Business Daily - In the past year, the credit crunch has spread from mortgages to student loans and other types of debt. Home equity lines of credit have been reeled in.

DSG sought bid from Media Markt, but rebuffed: report (Reuters)
Reuters - Germany's Media Markt, Europe's biggest electrical goods retailer, has rejected a request from DSG International Plc to consider a bid for its closest rival, the Financial Times said on its Web site.