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 »

Policymakers in Washington are in a quandary--one that has arisen before at this early, fragile stage in a recovery--over what to do about the federal deficit. Read more »

The U.S. services sector, which represents about 80 percent of U.S. economic activity, grew for the second consecutive month in October, while the labor market also showed signs of improvement in data published on Wednesday. Read more »

U.S. stocks accelerated their losses on Friday with the S&P 500 down 3 percent as investors worried the economy's recovery might not be sustainable and shares of financials tumbled. Read more »

The U.S. economy grew in the third quarter for the first time in more than a year as government stimulus helped lift consumer spending and home building, fueling an unexpectedly strong advance. Read more »

Sales of previously-owned U.S. homes jumped to a two-year high last month, according to data on Friday, though the looming expiry of a tax incentive for first-time home buyers was a major factor spurring sales. Read more »

The Wal-Mart supercenter is getting downsized. Read more »

U.S. retail sales excluding auto purchases rose for a second month in September, raising cautious optimism consumer spending could support the economy's fledgling recovery from the worst recession since the 1930s. Read more »

The U.S. Treasury Department is pushing American International Group to cut big pay incentives it claims were needed to keep staff, but which have stoked a controversy over pay at taxpayer-supported firms. Read more »

State-run Ghana National Petroleum Corp (GNPC) has told Kosmos Energy that it does not recognize a deal to sell its stake in the Jubilee oil field to Exxon Mobil as it was illegal, a GNPC source said. Read more »