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Asia up on Wall St. rally and China hopes, euro sags on Greece

TOKYO - Asian stocks rose on Tuesday after a rally on Wall Street and steps by China to shore up its economy boosted risk appetite, while Greek debt worries again haunted the sagging euro.

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Fed's Fischer floats shadow bank regulation framework

STONE MOUNTAIN, Ga. - A top U.S. Federal Reserve official on Monday suggested stress tests and certain capital requirements to contain the risks within the non-bank lending sector, while acknowledging there is little the central bank can do to impose such restrictions.

Taiwan to apply to join China-backed AIIB investment bank

TAIPEI - Taiwan will submit an application to join the Beijing-led Asian Infrastructure Investment Bank (AIIB) on Tuesday, a spokesman for the office of the island's president said.

9:53pm EDT

AIG Chairman Steve Miller to step down in July: WSJ

- American International Group Inc Chairman Robert "Steve" Miller intends to step down in July after five years in the role, the Wall Street Journal reported.

4:16pm EDT

U.S. investor lawsuit over Harbinger's LightSquared is dismissed

NEW YORK - A federal judge on Monday dismissed a lawsuit accusing Philip Falcone and his Harbinger Capital Partners LLC of misleading investors by taking a majority stake in wireless company LightSquared Inc without disclosing the investment or its risks.

4:28pm EDT

U.S. not liable for alleged SEC negligence in Stanford fraud: court

- A federal appeals court said on Monday the United States is not liable to victims of Allen Stanford's fraud who claimed that the Securities and Exchange Commission was incompetent for having taken too long to uncover the swindler's $7.2 billion Ponzi scheme.

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