Business Today: Freddie Mac posts second-biggest profit in its history

	Click to View in Browser 05/8/2013 Freddie Mac posts second-biggest profit in its history WASHINGTON (Reuters) - Freddie Mac , the No. 2 provider of U.S. mortgage money, on Wednesday said it reaped its second-largest profit ever in the first quarter, a reflection of housing market gains that have taken the steam out of efforts to revamp the nation's home loan system. News Corp quarterly profit, revenue rise (Reuters) - Rupert Murdoch's News Corp reported higher earnings and revenue for its fiscal third quarter, aided by the purchase of a controlling stake in German pay TV operator Sky Deutschland and growth at cable networks. Wall Street rallies with Dow, S&P at records again NEW YORK (Reuters) - Stocks pushed further into record territory on Wednesday, driving the S&P 500 to an all-time high close for a fifth day, helped by strength in financials and technology. Enron's Skilling reaches deal for shortened sentence (Reuters) - Jeffrey Skilling, the former chief executive of Enron Corp, has reached an agreement with federal prosecutors that could shorten his 24-year prison term in connection with the collapse of the energy company. U.S. can pursue case against Bank of America over mortgages (Reuters) - A federal judge ruled on Wednesday that the United States can pursue parts of a civil lawsuit against Bank of America Corp over its sale of toxic mortgages to Fannie Mae and Freddie Mac , boosting a largely untested legal theory the government used in the case. Microsoft names insider Amy Hood as CFO SEATTLE (Reuters) - Microsoft Corp on Wednesday named Amy Hood, head of finance of its Office division, as its new chief financial officer. Exclusive: Dubai Group aims to close $10 billion debt deal by June 6 - sources DUBAI (Reuters) - Dubai Group, an investment vehicle owned by the emirate's ruler, aims to secure a final agreement with creditors on its $10 billion debt restructuring by June 6, potentially ending marathon negotiations that have dragged on nearly three years. U.S. companies' overseas earnings hit record $1.9 trillion: study NEW YORK (Reuters) - Large U.S. companies boosted their offshore earnings by 15 percent last year to a record $1.9 trillion, avoiding hefty tax bills by keeping the profits abroad, according to a new report. NTSB orders scans of Boeing 787 battery as flights resume NEW YORK (Reuters) - The lithium-ion batteries used in Boeing Co's 787 Dreamliner are getting x-ray scans to help investigators determine what caused them to overheat and in one case catch fire. Boeing warns against U.S. Ex-Im Bank closure LONDON (Reuters) - Closure of the U.S. Export-Import Bank would have very serious consequences for planemaker Boeing Co and hand a competitive advantage to its rival Airbus , a senior executive at Boeing's financing arm said. Related Video Daily Digit: Delta to roll back $1 bln Saft Says: This is not your father's bull market Economic News Fed's credibility tested as inflation drifts below target Problem is not inflation but fiscal stalemate: Fed's Fisher 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 - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend