FT.com - US stocks pared earlier losses but remained in negative territory in mid-morning trade on Monday, the last trading day of the year, as investors digested fresh data on the housing market.

FT.com - Wall Street was poised for back-to-back weekly gains on Friday. Investors are hoping that another Federal Reserve rate cut, and a White House plan to resolve some of the pain afflicting holders of subprime mortgages, can prevent the credit squeeze

FT.com - At least two of the bidders for Northern Rock believe the stricken mortgage lender will need a substantial injection of new cash to shore up its capital base and allow it to carry on making new loans.