Dollar hits low vs. euro

The dollar reached a new all-time low against the euro Friday for the fourth straight day, briefly pushing the European currency above $1.33 before recovering slightly, amid concerns about the twin U.S. deficits and the lack of any central bank action to stop the dollar’s decline.

The dollar also dipped to a nearly five-year low against the yen, but later regained ground.

On Friday, the euro rose to $1.3329 in early trading before dipping back to $1.3290 later in New York. The euro topped $1.32 for the first time the day before in European trading. U.S. markets were closed Thursday for the Thanksgiving holiday.

The dollar also traded near its lowest levels since December 1999 against the Japanese yen on Friday, slipping to 102.56 yen, down from 102.81 late Wednesday in New York.

Aviation

General Electric deal to help US Airways

US Airways Group Inc. said Friday it had reached agreement with General Electric Co. on aircraft leasing and financing terms that would help the airline lower costs and reduce debt as it seeks to avoid liquidation. The airline also will have to do more cost cutting on its own.

The deal will provide the Arlington, Va.-based airline, now operating under bankruptcy protection, with $140 million in short-term liquidity and the deferral of aircraft debt and lease payments due during the next six months.

The agreement was filed Friday in U.S. Bankruptcy Court in Alexandria, Va. If approved, it is expected to provide the airline with more than $80 million in annual cash savings and aircraft-ownership and engine-maintenance costs.

Court

Music industry ready to challenge Kazaa

The next chapter in the global legal battle between the recording industry and file-sharing services is due to unfold Monday in Sydney, Australia, when the owners of the hugely popular Kazaa software stand trial on civil copyright infringement charges.

Kazaa’s owners, Sharman Networks Ltd., insist that while they urge users not to commit music piracy, they have no control over what people do with the popular “peer-to-peer” software they provide. With Kazaa, songs, movies and television programs are freely exchanged without paying royalties to the copyright owners.

Industry lawyers say they will try to prove in the federal court case that Sharman can control the illegal use.

Wall street

Investors await results of retail, jobs reports

Stocks finished mixed in post-holiday trading Friday as Wall Street meandered through a shortened session. The major indexes ended the week higher as investors looked forward to the results of the first weekend of holiday shopping and a key jobs report next week.

Wall Street struggled to continue its bullish streak, albeit in very light trading, as continued weakness in the dollar weighed on stocks.

The Dow Jones industrial average rose 1.92, or 0.02 percent, to 10,522.23. Broader stock indicators were narrowly mixed.