A federal judge has ruled that Stockton, California, may enter into bankruptcy proceedings. That opens the way for Stockton to become America's largest bankrupt city. The population there is 300,000, bigger than Cincinnati, Newark, New Jersey or St. Paul, Minnesota. NPR's Richard Gonzalez reports that others cities share Stockton's problems.
When it comes to claiming Social Security benefits, there is no magic age. Today's boomers can begin collecting full benefits at 66, tap in early for a modified benefit at 62 or delay receiving benefits until 70.
But the importance of making a smart decision on how and when benefits are claimed can't be underestimated, says Mary Beth Franklin of Investment News.
Two startup automakers with big ambitions for electric vehicles appear to be headed in different directions. Luxury plug-in hybrid maker Fisker has hired a law firm to advise it on a possible bankruptcy, according to multiple published reports. Electric car maker Tesla announced on Monday that it expects to turn its first ever profit in the first quarter.
A decision by India's Supreme Court to reject Novartis AG's bid to patent a version of one cancer drug could lead to more exports of cheap medicine from that country to "poor people across the developing world," the BBC writes.
NPR's Julie McCarthy tells our Newscast Desk that the ruling, announced Monday, ends a six-year legal battle that has been closely watched by pharmaceutical firms, humanitarian aid organizations and generic drug manufacturers.
And today's last word in business is one of this year's contenders for highest profile April Fools joke.
The video-sharing website YouTube announced yesterday it's shutting down.
DAVID GREENE, HOST:
In a video message, YouTube executives said that the whole site was actually designed as an eight-year contest to find the best video on the web. Well, eight years are up. And now panel of experts, the company said, will spend the next decade watching everything uploaded on the site to choose a winner.
The U.S. Environmental Protection Agency could soon issue a final ruling that aims to force oil companies to replace E10, gasoline mixed with 10 percent ethanol, with E15.
This move could come just as widespread support for ethanol, which is made from corn, appears to be eroding.
Mike Mitchell was once a true believer in ethanol as a homegrown solution to foreign oil imports. He owns gas stations, and he went further than most, installing expensive blender pumps that let customers choose E15, E20 and all the way up to E85.
The fashion industry is sometimes criticized for unrealistic portrayals of young women. But if you're a woman older than 60, there are almost no portrayals, realistic or otherwise. Fashion may be something you have to inventmore than follow. A blog called Advanced Style focuses on women who've done just that.