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.