Stocks in the U.S. shook off a steep global selloff that began with a 7.3% plunge in Japan's stock market. Markets around the world were jostled Thursday by a confluence of events that interrupted a monthslong rally in risky assets.

Fewer Americans applied for unemployment benefits last week, and consumer confidence approached a five-year high as the biggest part of the economy benefits from improving job and housing markets.

McDonald's Corp. Chief Executive Don Thompson, presiding over his first annual shareholders meeting since taking the helm of the fast-food chain last summer, defended the company's efforts to market to children.

Home buyers are paying more for newly built homes than they ever have, as U.S. home builders continue pushing up prices and limiting the number of properties hitting the market.

Wed May 22, 2013 10:34pm EDT. * HSBC flash PMI dips to 7-month low on weak demand. * Raises worries on growth outlook this year. * Government may tolerate a slower growth for reforms.

By a vote of 221-198, the U.S. House passed legislation that would reset interest rates on federal student loans and avert a scheduled doubling of rates this summer.

Chrysler Group, which is enjoying a nice rebound in the U.S. market, would be wise to stay focused on the road ahead rather than revisiting the circumstances of its 2009 government bailout.

The week before the Memorial Day holiday has been a busy one for retailers. Here's a sampling of happenings from Mattel, J.C. Penney and Abercrombie & Fitch.

Institutional Shareholder Services Inc., a proxy advisory firm that advises investors on corporate governance matters, agreed to pay a $300,000 penalty to settle charges that an employee leaked confidential information on proxy votes for roughly five years.

The International Monetary Fund's board of directors is backing Managing Director Christine Lagarde, who is being questioned by a French court over a decision she made as finance minister, a fund spokesman said.