U.S. News
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Bank of America Corp.’s Countrywide unit was found liable for defrauding Fannie Mae and Freddie Mac by selling them thousands of defective loans.
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Global stocks dropped from a five- year high, with shares in Europe halting the longest rally in 40 months, as oil and copper tumbled after China’s money-market rates jumped. The yen and Treasuries rose and the dollar rebounded from an almost two-year low versus the euro.
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AT&T; Inc., the second-largest U.S. wireless carrier, reported third-quarter profit that exceeded estimates after adding subscribers and generating more revenue from smartphone data plans.
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Evercore Partners Inc., the investment bank founded by former Deputy U.S. Treasury Secretary Roger Altman, raised its dividend and expanded stock buybacks after third-quarter profit more than doubled.
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