|     |     |    |  |     | 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 |  |