Free Financial Today

WASHINGTON (Reuters) – Federal Reserve officials on Tuesday launched a vigorous defense of their dealings with American International Group, calling for a congressional audit and denying any inappropriate action with respect to payments the bailed-out insurer made to banks.

LONDON/CHICAGO (Reuters) – Kraft Foods sealed a friendly deal to buy British candy maker Cadbury for about $19.6 billion (11.9 billion pounds) after frantic last-minute talks broke an impasse over price.