Financial news on July 2nd, 2011

Business and Financial news
An Accordion Epicenter Shrinks and Thrives

An Italian town that has been the home of high-end accordion makers for decades has survived by focusing on quality. Read more..


A New Type of Student Loan, but Still a Risk

Fixed-rate student loans from banks are a welcome innovation, but they should serve as a reminder of the hazards of this kind of debt. Read more..

By RON LIEBER - The New York Times

Bayer Settles With Farmers Over Modified Rice Seeds

A Bayer AG unit will pay $750 million to farmers who said a strain of the company’s genetically modified rice tainted crops in 2006. Read more..

By BLOOMBERG NEWS - The New York Times

Budget Needs Let Fireworks Fly Lawfully

As elected officials try to cash in on fireworks sales in cities and counties where they have long been banned, consumers will find it easier to buy fireworks. Read more..

By ANDREW MARTIN - The New York Times

Comparing Yourself to Others: It’s Not All Bad

We’re often told to avoid comparing, but this is both difficult and not necessarily wise advice in all situations. Read more..

By ALINA TUGEND - The New York Times

In Car Sales, Good Month for Detroit, Not Japan

Sales across the industry were higher last month compared to a year earlier, but the annualized selling rate fell. Read more..

By NICK BUNKLEY - The New York Times

Making a Portfolio, and More, at Money Camp

Summer camps where children learn skills like investing and developing a business plan are one way to increase young people’s financial literacy. Read more..

By PAUL SULLIVAN - The New York Times

New York Times Co. Sells Part of Its Stake in the Boston Red Sox

The company sold more than half its minority ownership to three separate buyers for $117 million. Read more..

By JEREMY W. PETERS - The New York Times

Regulators Provide $14 Billion Bailout for Bank of Moscow

The bailout, worth $14.1 billion, raised the specter of balance sheet problems at other Russian banks, which had a tendency during the recession to roll over loans to struggling companies. Read more..

By ANDREW E. KRAMER - The New York Times

What’s Inside the Bun?

Manufacturers of processed meats like frankfurters are pushing for more accurate labeling rules when it comes to cancer-causing nitrite and nitrate. Read more..

By WILLIAM NEUMAN - The New York Times

See what else happened on July 2nd, 2011