Reuters - Mortgage finance giant Fannie Mae will pay a $400 million fine after a U.S. probe of its $11 billion accounting scandal blamed management, the board and an "arrogant and unethical" culture for massive profit manipulation.

Reuters - Internet phone service provider Vonage Holdings Corp. is set to price its nearly $500 million initial public offering later on Tuesday in a test of investors' willingness to accept risk amid growing market volatility.

Reuters - Euronext shareholders gave the pan-European exchange operator freedom to seek a better offer from suitors The New York Stock Exchange and Deutsche Boerse (DB1Gn.DE), after rejecting for now the latest proposal from the Frankfurt-based exchange.

Reuters - U.S. stocks turned negative in the last half hour of trading on Tuesday, with the Nasdaq dropping for the 10th day in 11, amid fears the Fed may need to raise interest rates to fight inflation even as economic growth slows.

Reuters - Microsoft Corp. on Tuesday launched its second major test version of the Windows Vista operating system as a senior executive said he was "confident" the company will meet its targeted release date.