AFP – US retail sales rose in May, for the first time in three months, fueled mostly by higher gasoline prices, the government said Thursday amid signs a prolonged recession is easing.

AP – Rates for 30-year home loans jumped to the highest level in seven months this week, leading to a slowdown in refinancing activity, Freddie Mac said Thursday.

Reuters – U.S. Senate Banking Committee Chairman Christopher Dodd on Thursday called for creation of an independent consumer protection agency as part of wider reforms to the U.S. financial regulatory structure.

AFP – Japanese share prices have briefly topped the 10,000 level for the first time since October amid growing hopes of an economic recovery.

Reuters – Qualcomm Inc raised its current-quarter profit and revenue targets on stronger sales of mobile phone chips, but its warning that shipments would fall next quarter dampened investor enthusiasm.

Reuters – Oil prices extended a three-day rally to above $73 a barrel on Thursday on hopes for a recovery in world energy demand and worries refinery shutdowns could tighten U.S. gasoline supplies before summer driving season.

Reuters – U.S retail sales rose for the first time in three months in May and the number of workers filing new claims for jobless benefits last week hit the lowest level since January, fostering hope the recession was abating.

Reuters – U.S. lawmakers accused the Treasury and Federal Reserve on Thursday of using threats and intimidation to force Bank of America to take over Merrill Lynch, a charge Bank of America Chief Executive Ken Lewis denied.

Reuters – Stocks rose on Thursday as rising oil and other commodity prices lifted energy stocks, while retail sales and weekly jobless claims data bolstered optimism for an economic recovery.