SHANGHAI (Reuters) - Chinese industrial profits dropped 4.2 percent in November to 676.12 billion yuan ($108.85 billion), official data showed on Saturday, the biggest annual decline since August 2012 as the economy hit major unexpected headwinds in ...
... * Finance minister expects GDP drop of 4 pct in 2015. * Recalculates budget based on $60/barrel oil. * Central bank to lend over $2 bln to bailed-out Trust bank.
A host of companies working in and around the oil patch are facing tough times amid a sharp decline in energy prices over the past year.
Credit Suisse Group AG (CSGN) was ordered to face a $10 billion lawsuit by New York's attorney general accusing the Swiss bank of fraud in the sales of mortgage-backed securities before the 2008 financial crisis.
The dollar edged higher against the euro Friday, rising further on the heels of a strong US economic growth report earlier this week.