Who says corporate rivalry is a bad thing? Bloomberg report details how the 'competitive fighting spirit' between FedEx and main rival UPS has lead to an Ohio state investigation into FedEx's classification of its 15,000 truck drivers as independent contractors.

Glenn R. Simpson and Evan Perez, Wall Street Journal, report that the Federal Bureau of Investigation is probing subprime lender Countrywide Financial Corp. for possible securities fraud. Another potential issue facing the company is whether it has been candid in its accounting for losses.