Staff and wire reports

Economic indicators reason for optimism

Evidence is accumulating that the nation's economic recovery is gaining momentum.

On Thursday, the Conference Board reported that its closely watched Composite Index of Leading Economic Indicators rose 0.4 percent in October, suggesting stronger economic activity in the coming year.

Meanwhile, the Labor Department said that fewer U.S. workers filed new applications for unemployment benefits last week.

The department said that for the week ending Nov. 15, new claims for jobless benefits declined by a seasonally adjusted 15,000 to 355,000.

Settlement means payday for lawyers

DAYTON, Ohio - Shareholders' lawyers could receive as much as $50.9 million of the $145.5 million that DPL Inc. has agreed to pay in settlement of 11 state and federal lawsuits accusing the company of mismanaging investments.

Shareholders' lead counsel Stanley Chesley said notification of the settlement will be mailed to shareholders today.

Dayton Power & Light serves about 500,000 customers, with some in parts of Butler and Warren counties.

AFG completes conversion, merger

American Financial Group Inc. has completed the previously announced merger with its subsidiary, American Financial Corp. In the deal, approved by shareholders Thursday, AFG paid holders of a series of AFC preferred stock $26 per share for their shares. About $72 million in AFC preferred stock was converted into about 3.3 million shares of AFG common stock. The deal simplifies the corporate structure of AFG, which is the holding company for the financial interests of Reds owner Carl Lindner.

Thirty-year home loan rate 5.83%

The average interest rate on a 30-year fixed mortgage fell for the first time in three weeks to the lowest level since early October, Freddie Mac said.

The 5.83 percent rate for this week is down from 6.03 percent the week before, according to Freddie Mac, the No. 2 purchaser of U.S. mortgages. This week's rate is the lowest since 5.77 percent during the week ended Oct. 3.