Reuters - Republican U.S. presidential candidate John McCain on Tuesday said that if elected president he would order the Treasury Department to buy bad home mortgages and renegotiate them to help homeowners in trouble.

Reuters - U.S. life insurance company MetLife Inc on Tuesday said it expects to report income from continuing operations of $1.38 to $1.58 per share and premiums, fees and other revenues of $8.6 billion in the third quarter.

AP - The jammed credit markets barely budged Monday as governments around the world scrambled to prop up their failing banks and investors waited for details on how, exactly, the Treasury will go about buying $700 billion of U.S. banks' mortgage assets.

AFP - A global recession can be avoided with a coordinated plan to restore market confidence shattered by the US sub-prime mortgage crisis, the former International Monetary Fund chief said Tuesday.

AP - Facing a lawsuit over deceptive mortgage practices, Bank of America Corp. is agreeing to pay more than $8 billion to modify hundreds of thousands of loans to keep people from losing their homes.

AFP - Bank of America said Monday it was ready to spend up to 8.4 billion dollars to restructure the loan portfolio of mortgage giant Countrywide following settlement of a lawsuit targeting the firm's "predatory" lending practices.

Reuters - American International Group Inc , crippled by losses on bad mortgage bets, said on Friday it will focus on its main insurance operations and put the rest of its businesses up for sale to repay up to $85 billion borrowed from the U.S. government.

AP - The Treasury Department has picked two financial institutions to manage a program it unveiled last month to provide support for beleaguered mortgage-backed securities.