(Adds detail and context)
WASHINGTON, Jan 14 (Reuters) - The U.S. Treasury Department said Thursday it was altering its stake in Fannie Mae and Freddie Mac, charting a course for the housing finance giants to move away from government control, while acknowledging numerous issues will have to be solved by President-elect Joe Biden’s administration.
The changes, agreed with their regulator the Federal Housing Finance Agency (FHFA), would allow the pair to retain profits in exchange for increasing the Treasury’s stakes. But the plan implies it will still take years for the pair to build enough capital to be able to pay dividends to investors or exit government control.
JPMorgan Chase & Co reported a much better-than- expected jump in fourth-quarter profit on Friday as it released some of the cash it had built up against coronavirus-driven loan losses and benefited from continued strength in its trading and investment banking units.
By Reuters Staff
Jan 15 (Reuters) - Canada’s Procurement Minister Anita Anand says: PFIZER WILL TEMPORARILY SLOW DELIVERIES OF VACCINE DUE TO PRODUCTION PROBLEMS FOR ALL COUNTRIES SUPPLIED BY ITS EUROPEAN FACTORY CANADA STILL WILL BE ABLE TO REACH GOAL TO OFFER VACCINATIONS TO ALL CANADIANS BY END OF SEPT PFIZER PRODUCTION DELAY IS DUE TO WORK EXPANDING MANUFACTURING CAPACITY AND IS TO BE EXPECTED WHEN GLOBAL SUPPLY CHAINS ARE STRETCHED WELL BEYOND LIMITS (Reporting by Steve Scherer)