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Monday Evening Business Brief

December 23, 2013, 5:20 PM

Monday Evening Business Brief

A quiet trading day has seen stocks gain as investors start to close the books on 2013. Apple helped lift technology stocks after it reached a deal to sell the iPhone to China's largest wireless carrier. Apple rose $21.07, or 4 percent, to $570.09.The Dow rose 73 to 16,294. The S&P was up 9.67 points. The Nasdaq rose 44. Both the New York Stock Exchange and the Nasdaq Stock Market will be closed Wednesday for Christmas. Both exchanges will also close at 1 p.m. Eastern for Christmas Eve.

  • PNC Financial Services Group is paying $35 million to resolve government claims of discrimination in residential loans against a Cleveland-based bank that PNC bought in 2009. The agreement addresses claims that more than 75,000 African-American and Latino customers of National City Bank paid more for their residential loans between 2002 and 2008. There is no allegation of discrimination by Pittsburgh-based PNC, which bought National City Bank.
  • Disney is adding Twitter chairman and Square CEO Jack Dorsey to its board of directors. Walt Disney says Dorsey is joining the board effective immediately. He will stand for election to a full term at the company's annual meeting on March 18. Dorsey co-founded Twitter and sent the first Tweet in March 2006.
  • Donald Trump has filed two ethics complaints against state New York Attorney General Eric Schneiderman, accusing him of misconduct. According to the complaints, Trump says the Democratic attorney general solicited campaign donations from Trump's daughter even as Schneiderman's office was investigating the real estate mogul's "Trump University,"  A spokesman for Schneiderman says he hasn't solicited Trump for a campaign contribution since he took office in January 2011 and that Ivanka Trump isn't an official of the school.
  • Headphones, speakers and other audio gear are topping the holiday gift lists of many Americans. Audio equipment is among the top-selling electronics gifts this holiday season, accounting for 13 percent of the $8 billion in consumer electronics sales between Nov. 24 and Dec. 7. The numbers are based on research by NPD Group. Sales of sound bars, long, thin speakers that create surround sound, grew 80 percent. And wireless speaker sales nearly quadrupled.

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