MARKETS / FINANCE

Former longtime AIG chief Maurice Hank Greenberg and another former executive will get $60 million from the company's insurers to cover legal and other costs as part of a proposed settlement of investor lawsuits, court papers show.

U.S. Federal Reserve Chairman Ben Bernanke said on Friday the economic recovery has softened more than expected and the Fed is ready to take further steps if needed to spur the stumbling economy.

South Africa's largest union threatened Friday to bring gold and platinum mining and other industries to a halt next week in a strike to support a stoppage by 1.3 million state workers.

U.S. economic growth was revised down to a sluggish 1.6 percent annual rate in the second quarter, dampened by the largest increase in imports in 26 years, the government said on Friday.

U.S. economic growth slowed more sharply than initially thought in the second quarter, held back by the largest increase in imports in 26 years, a government report showed on Friday.

Economic growth was revised down Friday to a 1.6 percent annual rate in the second quarter, pointing to an even softer performance in the third quarter.

U.S. consumer sentiment pulled back in late August from earlier in the month but still improved from late July in the face of dismal labor and housing conditions, a private survey released on Friday showed.

Britain's economy grew at its fastest pace for nine years in the second quarter, an unexpected revision to official data showed on Friday, but economists said a sharp slowdown was still on the cards.

The U.S. economy hit a soft patch in the second quarter but is not likely to fall back into recession and will pick up speed in the first half of 2011, St. Louis Federal Reserve President James Bullard said on Friday.

The top share index was up by midday on Friday, off a seven-week low earlier this week, after the UK's second-quarter gross domestic product was unexpectedly revised upwards and ahead of a speech from U.S. Federal Reserve Chairman Ben Bernanke.

U.S. economic growth slowed more sharply than initially thought in the second quarter, held back by the largest increase in imports in 26 years.

U.S. stocks rose in volatile trading on Friday, shrugging off initial losses after the Federal Reserve chairman said the recovery has softened more than expected and Intel Corp warned about revenue.

American International Group Inc has scrapped plans to sell a strategic stake in its Asian life insurance business, AIA, ahead of its initial public offering, a source familiar with the process said on Friday.

Japan's prime minister said on Friday he will take firm measures on currencies when needed and will meet the Bank of Japan governor, increasing the possibility the central bank will ease policy soon as it confronts a surging yen.

Economic growth was revised down to a sluggish 1.6 percent annual rate in the second quarter, dampened by the largest increase in imports in 26 years, the government said on Friday.

Britain's economy grew faster than originally thought in the second quarter of the year, with growth hitting a nine-year high, official data showed on Friday, but analysts doubt the pace of recovery can be sustained.

Stock index futures pointed to a higher open on Friday as a better-than-expected reading on second-quarter economic growth relieved investors ahead of a speech from Federal Reserve Chairman Ben Bernanke.

Federal Reserve Chairman Ben Bernanke will have to address a number of pressing issues in a speech on Friday as investors search for more clarity on how close the U.S. central bank might be to another asset-buying spree to support the flagging recovery.

The top share index fell marginally early on Friday, as investors waited on the sidelines ahead of the second release of second-quarter GDP and a major speech by U.S. Federal Reserve Chairman Ben Bernanke.

Stock index futures rose slightly on Friday ahead of a speech from Federal Reserve Chairman Ben Bernanke and an estimate on second-quarter economic growth, which may offer clarity on how strongly a recovery is taking hold.

Stock index futures rose slightly on Friday ahead of a speech from Federal Reserve Chairman Ben Bernanke and an estimate on second-quarter economic growth, which may offer clarity on how strongly a recovery is taking hold.

U.S. economic growth likely was much weaker than initially thought between April and June, hurt by surging imports and as rebuilding of business inventories softened, a government report is expected to show on Friday.

Australia's opposition leader denied on Friday he was manoeuvring to force the country back to the ballot box after a weekend election delivered a hung parliament, with independents holding the balance of power.

Stock index futures were slightly higher on Friday ahead of a speech from Federal Reserve Chairman Ben Bernanke and an estimate on second-quarter economic growth, which may offer clarity on how strongly the recovery is taking hold.

Marketing group Aegis reported a 19 percent increase in first-half operating profit, in line with expectations, as its market-research unit returned to profit, reaping the benefits of past cost cuts.

European shares edged lower in early trade on Friday and were on track for a third straight week of losses as investors remained concerned about the pace of economic recovery after recent grim macroeconomic data.

American International Group Inc has scrapped plans to sell a strategic stake in its Asian life insurance business, AIA, ahead of its initial public offering, a source familiar with the process said on Friday.

Rightmove , the country's most visited property website, posted 40 percent higher first-half profit, beating analysts' expectations, as more homebuyers and sellers used its site to navigate what remains a challenging market.

Malaysia has lowered the crude palm oil production forecast to 17.8 million tons from 18.1 million tons due to the La Nina weather that is disrupting harvesting cycles.