Personal Finance Daily: With Social Security, patience can pay

	Personal Finance Daily JULY 12, 2012 Thursday's Personal Finance Stories By MarketWatch Don't miss these top stories: With rates low, it pays to delay Social Security Goodbye new-car discounts, hello perks Foreclosure starts on the rise Race still a problem in lending More city bankruptcies on California horizon? If you're among those wondering at what age you should claim Social Security, a new report suggests waiting until age 70, if possible, is likely to pay off for you. Check out Robert Powell's column today for more on why delaying is a good bet for most people in today's low-interest-rate environment. Plus, read Jennifer Waters's column to find out why you're not going to see steep discounts on new cars this summer. Car makers, however, are offering some interesting new perks. —Andrea Coombes , Personal Finance editor With rates low, it pays to delay Social Security When interest rates are as low as they are now, most households benefit from waiting to claim Social Security, according to new research. With rates low, it pays to delay Social Security. Goodbye new-car discounts, hello perks Car makers offer money-back guarantees and haggle-free pricing instead of price cuts. Goodbye new-car discounts, hello perks. Foreclosure starts on the rise The number of mortgages entering the foreclosure process in June rose 4% compared with a year ago, according to a RealtyTrac report released Thursday. Foreclosure starts on the rise. Race still a problem in lending A settlement between Wells Fargo and the Justice Department won't and shouldn't end the discussion about why minorities continue to be charged more for banking services in the U.S. Race still a problem in lending. ECONOMY & POLITICS Falling trade gap is in rearview mirror Don't get used to that narrowing trend in the trade deficit, writes Kathleen Madigan. It's unlikely to last. Falling trade gap is in rearview mirror. U.S. posts $60 billion deficit in June The federal government posts a monthly budget deficit of $60 billion in June, pushing the deficit to $904 billion for the first nine months of the fiscal year. U.S. posts $60 billion deficit in June. Wells Fargo to pay $175 mln on fair-lending charge Wells Fargo & Co. on Thursday said it would pay a total of $175 million to settle Justice Department charges that the company violated fair-lending laws for its role in allegedly steering black and Hispanic borrowers into subprime mortgages. Wells Fargo to pay $175 mln on fair-lending charge. More city bankruptcies on California horizon? San Bernardino bankruptcy, on heels of two others, leaves questions about which city in the Golden State might be next. More city bankruptcies on California horizon? U.S. jobless claims drop 26,000 to 350,000 Initial applications for unemployment benefits stand at 350,000, the lowest weekly total in more than four years — but it may well be an anomaly and not an omen of better prospects for job seekers. U.S. jobless claims drop 26,000 to 350,000. Bank of Japan stands pat on rates, sees recovery The Bank of Japan says the economy will chart a path of moderate recovery despite high global economic uncertainty, while leaving its policy interest rate unchanged in the current range of 0% to 0.1% by a unanimous vote. Bank of Japan stands pat on rates, sees recovery. South Korea surprises with quarter point rate cut South Korea's central bank on Thursday unexpectedly lowered interest rates, citing deteriorating conditions in the U.S. and Euro zone, as well as sluggish demand for South Korean goods in emerging markets. South Korea surprises with quarter point rate cut. China's '5 apocalypses' signal global recession America's facing not one but four "fiscal cliffs," writes MarketWatch columnist Paul B. Farrell. Yet China has even bigger problems. China's '5 apocalypses' signal global recession. China coming in for a landing If Britain is the world's laboratory for austerity policies, then China is the laboratory for massive Keynesian stimulus. China coming in for a landing. INVESTING Branson claims space as Virgin territory As executives, investors, "future astronauts," reporters and the Branson family gather at the Farnborough Air Show to wallow in the potential of exploring the outer reaches, our man, Shawn Langlois, draws a line. Branson claims space as Virgin territory. Problems, but no panic Stocks' slide continues, but the bears are still unrampant, and key market timers are sticking with their strategies, Peter Brimelow writes. Problems, but no panic. Canadia pipeline company seen as hapless If you're an oil pipeline company, two terms you generally don't want to see associated with your name are "massive spill" and "Keystone Kops." Canadia pipeline company seen as hapless. Double whammy of gloom for chip stocks Earnings warnings from chip maker Advanced Micro Devices Inc. and equipment firm Applied Materials could be harbinger of more to come, writes Therese Poletti. Double whammy of gloom for chip stocks. Get the latest news on our mobile site: http://www.marketwatch.com/m MarketWatch has sent you this newsletter because you signed up to receive it. To ensure you receive this newsletter in the future, please add marketwatchmail.com to your list of approved senders. Sent to: kumaresan.selva.blogger@gmail.com Unsubscribe | Subscribe Copyright 2012 MarketWatch, Inc. All rights reserved. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. 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