MARKETS / FINANCE

Austrian banker Sonja Kohn was a criminal soul mate of Bernard Madoff for 23 years, running an international network of banks and funds to help perpetrate the biggest fraud in financial history, a court-appointed trustee for the Madoff firm said on Friday.

The trustee recovering money for the victims of Bernard Madoff's epic fraud sued Sonja Kohn, founder of Austria's Medici Bank, accusing her of playing a major role in the scheme. The lawsuit seeks $19.6 billion in damages.

A Chinese auto sales company traded up slightly and a Chinese tech company fell in U.S. stock market debuts on Friday, a sign that not every Chinese companies will get a blank check in its initial public offering.

A jury on Friday convicted a former Goldman Sachs computer programer on criminal charges of stealing secret high-frequency trading code from Wall Street's most influential bank.

A rise in U.S. consumer confidence to its highest in six months and a much bigger-than-expected contraction in the country's trade deficit pointed to a firmer economic recovery on Friday.

U.S. stocks rose on Friday, with the S&P 500 at its highest level since the week Lehman Brothers collapsed in 2008, and breaching technical levels that suggest the year-end rally will persist.

U.S. stocks closed higher on Friday, with the S&P 500 at its highest level since the week Lehman Brothers collapsed in 2008, breaching technical levels that suggest the year-end rally will persist.

U.S. authorities could announce a series of arrests in the next phase of a long-running insider trading investigation as early as next week, CNBC said in a report on Friday.

The United States recorded a larger-than-expected $150 billion budget gap last month, the largest shortfall for any November, Treasury Department data showed on Friday.

U.S. consumer sentiment rose more than expected in early December while an index of current conditions jumped to its highest level since January 2008, a survey released on Friday showed.

A jury convicted a former Goldman Sachs computer programer on criminal charges of stealing secret high-frequency trading code from Wall Street's most influential bank.

European Union banking supervisors agreed on finalized mandatory guidelines for awarding bank bonuses on Friday, saying key requirements can be neutralized for less risky firms and staff.

General Electric Co raised its quarterly dividend by 2 cents per share to 14 cents, its second increase in the payout this year and a fresh sign the largest U.S. conglomerate is gaining confidence in the outlook for its finance business.

The International Monetary Fund postponed approving a multi-billion euro loan for Ireland on Friday after Prime Minister Brian Cowen said he would seek parliamentary approval for the bailout.

TJX Companies Inc will shut down its A.J. Wright clothing stores, cutting about 4,400 jobs and taking a charge of $150 million to $170 million, as it focuses on its core off-price retail brands like T.J. Maxx and Marshalls.

Organizations can protect themselves to some degree against cyber attacks like the ones WikiLeaks supporters have carried out against Visa and Mastercard but it's a costly and constant race against time.

The International Monetary Fund postponed approving a multi-billion euro loan for Ireland on Friday after Prime Minister Brian Cowen said he would seek parliamentary approval for the bailout.

A rise in U.S. consumer confidence to its highest level in six months and a much bigger-than-expected contraction in the country's trade deficit pointed to a firmer economic recovery on Friday.

Consumer sentiment rose more than expected in early December while an index of current conditions jumped to its highest level since January 2008, a survey released on Friday showed.

U.S. import prices in November rose at their fastest pace in a year as petroleum and food costs maintained their upward trend, according to a government report on Friday that hinted at a pick up in imported inflation.

U.S. economic data painted a picture of a firming recovery on Friday as consumer confidence rose to its highest level in six months and the country's trade deficit narrowed much more than expected.

(Corrects 8th paragraph to say 9.8 percent unemployment rate was for November, not October)

Stock index futures rose on Friday following encouraging data out of China and as a two-year high in the S&P 500 had investors betting on a year-end rally.

U.S. stocks rose on Friday following encouraging economic data on consumer sentiment and trade, while the S&P 500's break above key levels pointed to further gains.

Cyber activists striking at companies seen as enemies of WikiLeaks sought to block the website of online payment firm Moneybookers on Friday but denied their campaign was intended to damage economic activity.

Higher-than-expected producer price index released Friday morning in London helped GBP/USD break above the key 1.5838 resistance to a 2-week high and is now targeting the 1.5952-1.5996 region.

Changes reserve ratio level in third paragraph to 18.5 percent, not 19 percent

The U.S. trade deficit narrowed much more than expected in October, as exports rose a robust 3.2 percent and imports declined slightly in the face of slackening demand for industrial and petroleum products, a Commerce Department report showed on Friday.

China's central bank on Friday increased the amount of money that lenders must keep on reserve for the third time in one month, a move to mop up excess cash in the economy and rein in inflation.