NEW YORK (AP) — Stocks are higher as strong reports on durable goods and pending home sales outweigh concerns over Europe's financial crisis. European leaders will begin a two-day summit tomorrow aimed at defusing the lingering debt crisis.
WASHINGTON (AP) — Businesses are showing more confidence in the economy. The Commerce Department says companies placed more orders with U.S. factories for long-lasting manufactured goods last month. The 1.1 percent increase followed two months of declines.
WASHINGTON (AP) — For the third day this week, there's news that the housing industry is improving. Americans signed more contracts to buy previously occupied homes in May, matching the fastest pace in two years. Reports earlier this week showed home prices are rising as are new home sales.
MIAMI (AP) — PNC Bank is agreeing to settle a class-action suit over excessive overdraft fees for $90 million. JP Morgan Chase, Bank of America, TD Bank and others have reached similar agreements. The deal still has to be approved by a federal judge.
NEW YORK (AP) — Barclays PLC and its subsidiaries will pay more than $400 million to settle charges that it tried to manipulate and made false reports related to setting key global interest rates. The rates affect the costs of hundreds of trillions of dollars in loans and investments such as bonds, auto loans and derivatives.