| | Ambac sues Bank of America over Countrywide mortgage bonds | NEW YORK (Reuters) - Ambac Assurance Corp sued Bank of America Corp to recoup hundreds of millions of dollars of losses from insuring roughly $1.68 billion of securities backed at least in part by risky mortgages from the bank's Countrywide Home Loans unit. | | | | | | Fed forecasting tool calls for immediate rate hike, Plosser says | (Reuters) - A forecasting tool developed by the Federal Reserve recommends that U.S. interest rates should be hiked immediately to keep pace with the improving economy, according to a paper by the soon-to-retire Philadelphia Fed President Charles Plosser. | | | | | | U.S. pending home sales rise modestly in November | WASHINGTON (Reuters) - Contracts to buy previously owned U.S. homes rose only modestly in November, pointing to a still-sluggish housing market despite several months of stronger economic growth and hiring. | | | | | | U.S. opening of oil export tap widens battle for global market | WASHINGTON/NEW YORK (Reuters) - The Obama administration has opened a new front in the global battle for oil market share, effectively clearing the way for the shipment of as much as a million barrels per day of ultra-light U.S. crude to the rest of the world. | | | | | | | | A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today | | | | | | | The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today | | | | | » MORE NEWSLETTERS | |