A federal judge in Manhattan on
Thursday partially dismissed a lawsuit by investors in General
Electric Co that accused the company of concealing $24
billion in insurance liabilities and using fraudulent accounting
to prop up its power business.
China's central bank set its
official yuan midpoint at its weakest in 11-1/2 years on Friday,
though for a fourth straight day it was stronger than the market
had expected, signalling the central bank's intention to slow
the Chinese currency's decline.
The United States on Thursday
sanctioned Lebanon-based Jammal Trust Bank SAL and its
subsidiaries for allegedly facilitating the financial activities
of Hezbollah, according to the Treasury Department, which said
the bank funnels money to the families of suicide bombers.
An Illinois judge on Thursday
ruled that a petition by taxpayers aiming to challenge the
constitutionality of $16 billion of the state's general
obligation bonds was political in nature and cannot proceed in
Australian shares looked set to rise on
Friday, in line with Wall Street peers, as China's optimistic
comments about trade negotiations with the United States buoyed
U.S. stocks jumped more than 1% overnight after China's
Commerce Ministry said Beijing and Washington were discussing