Briefs: Fannie Mae under scrutiny

WASHINGTON -- Three years after an accounting scandal forced Fannie Mae to restate earnings by $6.3 billion, the government-backed home-loan finance company is on the defensive again, this time over a change in how it calculates potential losses from the growing mortgage crisis.

Chip maker stake sold to Abu Dhabi

SAN FRANCISCO -- The Abu Dhabi government bought an 8.1 percent stake in chipmaker Advanced Micro Devices Inc. for $622 million as a surge in oil prices drives a flurry of purchases by Middle Eastern investors.

Wireless carrier goes private

LITTLE ROCK, Ark. -- Alltel Corp., the nation's fifth-largest wireless carrier based in Little Rock, was taken private Friday to complete a $24.7 billion buyout by two private equity groups. The deal earlier won approval of shareholders and was cleared by the Federal Communications Commission.

FedEx reduces profit expectations

NASHVILLE, Tenn. -- FedEx Corp. reduced its quarterly and yearly earnings expectations Friday. The Memphis-based shipper blamed soaring fuel costs and a troubled U.S. freight market.

Blunder reveals closed OPEC talks

RIYADH, Saudi Arabia -- The accidental airing of a closed OPEC session Friday provided a surprise glimpse into a sensitive debate over the weakening U.S. dollar with Saudi Arabia's foreign minister warning that even talking publicly about the currency's decline could further hurt its value. Iran attempted to convince other member countries to express concern over dollar depreciation in the meeting's final declaration. Oil is priced in dollars on the world market and its depreciation has concerned oil producers because it has contributed to rising crude prices and eroded the value of their dollar reserves.