Business news in brief

Posted: February 21, 2013 at 12:38 a.m.

QUOTE OF THE DAY “The housing market recovery is continuing and will be an important contributor to economic growth. Permits look very solid, and that is a great sign.” Gus Faucher, a PNC Financial Services Group Inc. senior economist Article, 1D Bank of America CEO gets ’12 raise NEW YORK — Bank of America raised Chief Executive Officer Brian Moynihan’s 2012 compensation by more than 70 percent to about $12 million and agreed to increase his base salary for this year.

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Business, Pages 24 on 02/21/2013