LONDON (Reuters) - British bank Barclays Plc said profits fell in the first quarter and refused to rule out a rights issue as it took a 1 billion pound ($2 billion) hit for the impact of the credit crunch.

WASHINGTON (Reuters) - The U.S. House of Representatives on Thursday approved a bill to create a $300 billion mortgage-insurance fund and provide billions more in homeowner aid to stabilize a housing market shaken by a wave of foreclosures and a credit crunch.

WASHINGTON (Reuters) - The U.S. House of Representatives on Thursday approved a bill to create a $300 billion mortgage-insurance fund and provide billions more in homeowner aid to stabilize a housing market shaken by a wave of foreclosures and a credit crunch.

NEW YORK (Reuters) - The U.S. service sector grew in April for the first time in four months, according to a report on Monday that was overshadowed by a dour Federal Reserve survey showing the banking sector remained in the grips of a credit crunch.

OMAHA, Neb. -- Billionaires Warren Buffett and Charlie Munger say the pain many financial institutions are feeling because of the credit crunch is well deserved.

The billionaire investor says firms that wrote and bought the risky mortgages don't merit much sympathy. Billionaires Warren E. Buffett and Charles T. Munger say the pain many financial institutions are feeling because of the credit crunch is well deserved.

WASHINGTON (Reuters) - The Federal Reserve lowered U.S. interest rates by a modest quarter percentage point on Wednesday and hinted the move could be the last in a series meant to buffer the economy from a credit crunch and housing downturn.

Many U.S. homeowners continue to weather the current credit crunch and real estate market conditions, as the number of severely delinquent mortgage accounts increased 15 percent in one year, according to a National Score Index® study conducted by Experian Consumer Direct, the leading provider of online direct-to-consumer credit reports, scores and monitoring products.

WASHINGTON -- The Federal Reserve, which began the year aggressively fighting a severe credit crunch and economic weakness, may push the pause button after delivering perhaps one more quarter-point cut in interest rates.

LONDON/FRANKFURT (Reuters) - Britain's biggest mortgage lender begged for new funding on Tuesday and Germany's top bank suffered its first quarterly loss in years as the credit crunch sapped financial industry strength.