Financial news on June 10th, 2012

Business and Financial news
Affirming Slowdown, China Reports Second Month of Scant Economic Growth

Chinese economy, widely seen until the last few weeks as the strongest remaining locomotive that could drag the global economy back from the brink of recession, shows a second month of anemic growth in May and performed even worse than the already lowered expectations of most economists; growth in industrial production, retail sales and investment in fixed assets like factories and office buildings was little changed from April. Read more..

By KEITH BRADSHER - The New York Times

David M. Helpern, Chief of Joan & David Apparel Brand, Dies at 94

David M Helpern, who led husband-and-wife team Joan & David, dies at age 94. Read more..

By PAUL VITELLO - The New York Times

Forced to Early Social Security, Unemployed Pay a Steep Price

Recession and its protracted aftermath have forced many older unemployed Americans to draw Social Security much earlier than they had planned; early withdrawals have significant economic repercussions that are likely to plague retirees even if the economy revives. Read more..

By MOTOKO RICH - The New York Times

See what else happened on June 10th, 2012