Stocks in Europe were little changed before European Union leaders meet and U.S. data that may show sales of existing homes climbed to a three-year high in April. U.S. futures and Asian stocks were also little changed.
The U.S. Supreme Court bolstered the authority of federal administrative agencies, upholding Federal Communications Commission deadlines for local zoning authorities considering applications for new wireless facilities.
Michael Corbat, hunting for revenue seven months into his tenure as chief executive officer of Citigroup Inc., said the improving U.S. housing market and declining unemployment won’t ignite the nation’s economy unless companies start spending.
Standard Chartered Plc, the U.K. lender that makes most of its profit in emerging markets, has applied for a banking license in Angola and may do the same in Mozambique as it seeks to increase revenue from Africa.
Lloyds Banking Group Plc agreed to sell a portfolio of U.K. real estate loans to Cerberus Capital Management LP for 325 million pounds ($501 million) as the U.K. lender shrinks its balance sheet after its government bailout.