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Durable goods orders point to factory resilience
By Jason Lange WASHINGTON (Reuters) - Orders for long-lasting U.S. manufactured goods rose more than expected in April, a hopeful sign that a sharp slowdown in factory output could soon run its course. New orders for durable goods, which range from toasters to aircraft, increased 3.3 percent last month, the Commerce Department said on Friday. The data was the latest to show the U.S. economy exhibiting surprising resilience in the face of harsh fiscal austerity measures enacted this year. ...
Wall St. slips on Fed stimulus uncertainty; P&G jumps
By Leah Schnurr NEW YORK (Reuters) - Stocks fell for a third day on Friday, putting indexes on track for their first negative week since mid-April, on lingering concern the U.S. central bank may scale back its stimulus measures to support the economy. Still, losses were mild by midday, with a 4 percent gain in Procter &Gamble helping both the Dow and the S&P 500. A jump in April orders for long-lasting manufactured goods, such as refrigerators and toasters, painted an encouraging economic picture. ...
Exclusive: NY attorney general says more evidence banks violated mortgage pact
By Karen Freifeld NEW YORK (Reuters) - New York Attorney General Eric Schneiderman said there is mounting evidence that Bank of America Corp, Wells Fargo and Co and other banks violated the terms of a settlement designed to end mortgage servicing abuses. Schneiderman - who has said he plans to sue Bank of America and Wells Fargo for failing to live up to their obligations under the deal - said other states had found similar problems. ...
