NEW YORK -- A late rally pushed the Dow Jones industrial average back above 12,000 Monday as investors reacted to the latest twists in Europe's efforts to control its debt crisis.
Stocks were down much of the day on worries that Italy could become the next country to run into trouble. They turned higher on news that Greece would receive the latest installment of emergency aid as long as the country's two main parties commit to implementing economic reforms.
--The Dow rose 85.15, or 0.7 percent, to close at 12,068.39.
--The S&P 500 rose 7.89, or 0.6 percent, to 1,261.12.
--The Nasdaq composite rose 9.10, or 0.3 percent, to 2,695.25.
Cruise supporters pay for billboard along I-26
A group concerned about Charleston's expanded cruise ship industry put up a billboard in August along U.S. Interstate 26, the main route to the city, calling for "cruise control." Now, a rival group has put up its own billboard on I-26 supporting the business. "Cruise on in ... Welcome and thank you" says the billboard.
The billboard back-and-forth comes as the State Ports Authority plans to build a $35 million passenger cruise terminal in Charleston. Design plans for the terminal will be reviewed Wednesday by the city's Board of Architectural Review.
Settlement OK'd in suit over BofA overdraft fees
MIAMI -- A judge Monday gave final approval to a $410 million settlement in a class-action lawsuit affecting more than 13 million Bank of America customers who had debit card overdrafts during the past decade.
The agreement drew criticism from some customers because they would only receive a fraction of what they paid in overdraft fees. The fees were usually $35 per occurrence.
Bank attorney Laurence Hutt said 13.2 million customers who had debit cards between January 2001 and May 2011 would get some payment. Those who still have accounts would get an automatic credit and the others would get a check mailed to them. No action is required.
Bank of America is the third-largest bank in the Charleston region based on deposits.
Google Plus networking site open to businesses
SAN FRANCISCO -- Google's social networking service is now open for businesses. The expansion announced Monday is the latest feature on Google's Plus service to imitate something already on Facebook, the leading website for sharing with family and friends.
Until now, Plus had only been open to individuals. Google says more than 40 million people have Plus profiles.
GM decision puts sale of ailing Saab in jeopardy
STOCKHOLM -- General Motors on Monday said it won't allow two Chinese companies to use its technology if they go ahead with a planned purchase of Saab, a former GM unit.
The announcement raises doubts about a rescue plan for the ailing Swedish brand, which is being reorganized under bankruptcy protection after running out of cash.
Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. agreed last month to buy Saab from Swedish Automobile for $140 million.
GM, which sold the brand in 2010, said in a statement it would block existing technology licenses and stop supplying the GM-built Saab 9-4X crossover SUV "following the proposed change in ownership as it would not be in the best interests of GM."
Swedish Automobile CEO Victor Muller told the Swedish news agency TT that GM's decision means going "back to the drawing board."