Business Day

Thursday, June 30, 2011 Last Update: 9:40 PM ET

Geithner Staying (for Now)

Treasury Secretary Timothy F. Geithner said Thursday that he planned to stay in his job “for the foreseeable future.”

If Treasury Secretary Timothy F. Geithner does depart, he would be the last member President Obama’s economic brain trust to leave after two-and-a-half years of turmoil.
J. Scott Applewhite/Associated Press

If Treasury Secretary Timothy F. Geithner does depart, he would be the last member President Obama’s economic brain trust to leave after two-and-a-half years of turmoil.

Two Rulings Find Cuts in Public Pensions Permissible

The dismissal of suits by retired public workers in Colorado and Minnesota may embolden other states and cities to use pension reductions as a tool to help balance their budgets.

Western Funds Are Said to Have Managed Libyan Money Poorly

Prominent investment funds managed hundreds of millions of dollars in Qaddafi regime assets, charging tens of millions of dollars in fees and producing low returns, according to a document.

The Big Picture

Local Laws Fighting Fat Under Siege

At the behest of restaurateurs, state legislatures are passing laws that override local antiobesity ordinances.

German Banks Agree to Roll Over Greek Debt

The financing plan is based on a similar agreement with France and its banks and is seen as crucial to securing more aid for Greece.

Strauss-Kahn Case Seen as in Jeopardy

The case against Dominique Strauss-Kahn is on the verge of collapse as investigators have uncovered major holes in the credibility of the housekeeper who charged that he attacked her in a Manhattan hotel in May.

DealBook

Mortgage Executive Receives 30-Year Sentence

Lee B. Farkas, the former chairman of Taylor, Bean & Whitaker, received less than the 385-year penalty sought by federal prosecutors.

Medicare Will Continue to Cover 2 Expensive Cancer Drugs

Drugs for prostate and breast cancer will still be covered by Medicare, despite their high costs and recent debate about the effectiveness of one.

Insight & Analysis

High & Low Finance

Playing Make-Believe With Greece

Treating bad loans as if they were fine landed a commercial banker in legal trouble. But the president of the European Central Bank is doing the same for Greek debt.

State of the Art

Pretty Tablet, Though Late for the Ball

The new TouchPad from Hewlett-Packard looks beautiful, but its app collection is pitifully small.

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Advertising

Diving Into Reeking Squalor to Test an Air Freshener

Febreze from Procter & Gamble is trying a less predictable and harder-hitting approach to promoting its product in commercials.

Economix Blog

The Wageless, Profitable Recovery

A study finds the current recovery unusually skewed in favor of corporate profits and against increased wages for workers.

DealBook

Who Is the Mystery Hamptons Moneybags?

An ATM receipt revealing a balance of $99 million has prompted speculation about its owner.

Economix Blog

Nurturing Small Businesses Around the World

By many measurements, America is friendlier to small businesses than most other developed countries are.

Bucks Blog

Some Tax Refund Checks Still Not in the Mail

Some filers who took the 2008 first-time home buyer credit are still waiting for their 2011 tax refunds.

Gadgetwise Blog

Will Google+ Become a Refuge for the Facebook Weary?

Google's new social-networking site could have an unlikely ally in its corner to convince users to sign up for it.

Bucks Blog

An Online Pawn Shop That Seeks to Go Upscale

An online pawn shop, Pawngo, aims to change the perception of pawn shops being associated with shady dealings.

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