(In first paragraph, corrects prior quarter's net income to $5.0 billion, not $4.9 billion)
NEW YORK May 5 Fannie Mae, the largest U.S. mortgage guarantor, said on Friday its net income fell to $2.8 billion in the first quarter from $5.0 billion the prior quarter as smaller increases in market interest rates resulted in smaller gains on its derivatives and credit-related income.
The Washington-based agency, which has been under government control since 2008, will pay the U.S. Treasury Department $2.8 billion in dividends in June. (Reporting by Richard Leong; Editing by Chizu Nomiyama)
UPDATE 5-Brazil defends beef after 'system-wide problem' prompts U.S. ban
CHICAGO/BRASILIA, June 23 Brazil scrambled to shore up its beef industry's reputation on Friday after the United States blocked shipments of fresh cuts, saying it found abscesses in the meat and signs of systemic failure of inspections in the world's largest beef exporter.
BRIEF-CalPERS says IAC abandons plan to issue non-voting stock in response to CalPERS Lawsuit
June 23 California Public Employees' Retirement System: