Reuters - Top U.S. lender Bank of America , raising cash to weather a dismal market at home, is selling a $2.83 billion chunk of its holding in China Construction Bank (0939.HK) at a 12 percent discount on Wednesday, according to a term sheet obtained by Reuters.
Fed and other agencies to join U.S. fraud task force (Reuters)
Reuters - The U.S. government is beefing up a task force to fight mortgage crimes and safeguard federal financial bailouts, the U.S. Justice Department said on Tuesday.
Leading Democrat offers mortgage aid bill (Reuters)
Reuters - The second-ranking Democrat of the U.S. Senate on Tuesday introduced legislation that would let bankruptcy judges erase some mortgage debt in an effort to stem foreclosures.
US service sector improves slightly in Dec. (AP)
AP - A measure of the U.S. services sector improved slightly in December, beating analysts' estimates, but pending home sales and factory orders both fell more than expected and the overall economic outlook remains grim.

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