Home prices in 20 US metropolitan areas fell in March by the most in at least seven years, pointing to weakness in the housing market that will constrain economic growth.

Added: 2008-05-27

US house price slump hits consumer confidence

Category: varial news

JP Morgan's Bear Stearns deal reveals poison clauses

JP Morgan Chase brokered a number of "poison pill" clauses in its bargain £236m (£119m) takeover of Bear Stearns that will make it almost impossible for a rival to stage a successful bid.

Mugabe clings on despite election defeat

President blocks release of official results and threatens to treat opposition claim of victory as a coup

FBI checks out the truth of Countrywide's statements on quality of loans

The FBI is investigating whether Countrywide, Americas biggest mortgage lender, lied to shareholders and regulators about the quality of its loan book and finances, amid concern that the credit crunch may be entering a new and dangerous phase. The FBIs move comes as part of an inquiry into the way in which 15 lenders behaved leading up to and during Americas sub-prime mortgage crisis, which has rendered billions of dollars of bonds effectively worthless. The investigation into the veracity of financial statements made to the US Securities and Exchange Commission, Wall Streets regulator, by the mortgage lender has also raised questions about whether Bank of America, which is in the process of buying Countrywide for $4 billion ($