WASHINGTON (Reuters) - The U.S. government plans to take over Fannie Mae and Freddie Mac and all shareholders of the two mortgage giants will take a hit, an influential lawmaker said on Saturday.
HAVANA (Reuters) - Hurricane Ike barreled toward Cuba as an extremely dangerous Category 4 storm on Sunday and was forecast to sweep into the central Gulf of Mexico as a large and powerful storm echoing Hurricane Gustav.
The US government announces plans for the takeover of failing mortgage giants Freddie Mac and Fannie Mae.
People earning more than£100,000 a year should pay higher tax rates, the Trades Union Congress says.