Financial news on July 11, 2009

Business and Financial news
Budget Cuts Eroding Progress in Juvenile Justice

In South Carolina, budget cuts are threatening to erode major improvements in the state’s juvenile justice system. Read more..

By PETER S. GOODMAN - The New York Times

Collect Now, or Later? Timing Your Social Security Benefits

Waiting until full retirement age or even later to collect benefits can result in a larger check — but sometimes collecting early makes more sense. Read more..


Earnings Worries Push Markets Lower

Shares pulled back as traders decided to sell amid the uncertainty about coming earnings reports. Read more..

By GERRY SHIH - The New York Times

EBay Denies Partnership With G.M.

G.M. said it was forging a new partnership with eBay to sell new cars. But the auction site said that no deal had been reached. Read more..

By BRAD STONE - The New York Times

Former Broker Gets 38 Months in Stock Scheme

A former Morgan Stanley broker, Darin DeMizio, was sentenced to 38 months for his part in a stock loan scheme that generated $1.7 million in kickbacks to his family. Read more..

By BLOOMBERG NEWS - The New York Times

Oil Prices Fall Below $60 a Barrel

Traders seemed to focus on speculation the worldwide recession and rising unemployment would keep stifling demand. Read more..


Sleeping With the Enemy (Bed Bugs)

Looking at what consumers can do to avoid being bitten twice — first by the vermin and then by a venal exterminator. Read more..

By WALECIA KONRAD - The New York Times

State Street Buys Warrants Back From the Treasury

The State Street Corporation paid $60 million to repurchase warrants held by the Treasury, becoming the first major financial firm to leave the government’s $700 billion rescue program. State Street, the world’s largest money manager for instituti... Read more..

By BLOOMBERG NEWS - The New York Times

UBS Says a Settlement of Tax Case Is Possible

The bank has refused to hand over the names of 52,000 American clients suspected of offshore tax evasion, saying doing so would violate Swiss law. Read more..

By LYNNLEY BROWNING - The New York Times

Where Iron Is Bigger Than Oil or Gold

Oil, gold and rice are the commodities that often grab headlines. But for countries like China and Australia, it is the price of iron ore that can determine whether economies go boom or bust. Read more..

By BETTINA WASSENER - International Herald Tribune

See what else happened on July 11, 2009