Reuters Money: Job growth steps up, but jobless rate rises to 8.3 percent

	Click to View in Browser 08/3/2012 Job growth steps up, but jobless rate rises to 8.3 percent WASHINGTON (Reuters) - Employers in July hired the most workers in five months, but an increase in the jobless rate to 8.3 percent muddled the near-term outlook for monetary policy. Pension debt overwhelms bankrupt San Bernardino, California LOS ANGELES (Reuters) - San Bernardino, the third California city to seek bankruptcy protection since June, is saddled with huge pension debt and will produce details of those unfunded obligations within 15 days, its mayor said on Thursday. Economic data underscores weakening activity WASHINGTON (Reuters) - The number of Americans filing new claims for jobless benefits rose last week and manufacturers suffered an unexpected drop in orders in June, suggesting the economy is struggling to break out of a soft patch. Knight's future in balance after trading disaster NEW YORK (Reuters) - Knight Capital Group Inc fought for survival on Thursday after a $440 million trading loss caused by a software glitch wiped out much of its capital, forcing Knight to seek new funding as its shares plunged as much as 80 percent in two days. New Jersey pension system earns 2.26 percent in 2012 (Reuters) - New Jersey's $69.9 billion public pension system returned 2.26 percent in fiscal year 2012, falling short of its 7.95 percent assumed rate of return, the state said on Thursday. Supplementary insurance fills new gaps NEW YORK (Reuters) - Dustin Boersma, 25, wanted a health insurance plan that wouldn't break the bank. The Los Angeles-based freelance web developer found a policy for just $70 a month, but it came with a $4,500 deductible. Will U.S. Olympic medalists get a tax break? (Reuters) - When U.S. athletes at the London Olympic Games bow their heads to receive a medal, one would hope they are not thinking about their taxes. But as with much in life, Olympic glory has a price -- a tax price, that is. Bristol-Myers executive charged with insider trading (Reuters) - A Bristol-Myers Squibb Co executive was criminally charged with insider trading, accused of trading options in three companies that the large drugmaker was looking to buy. The Stoker verdict and the Citi settlement: Frankel NEW YORK (Reuters) - If you're the Securities and Exchange Commission, it's tough to find a silver lining in Tuesday's jury verdict for Brian Stoker, a onetime midlevel banker at Citigroup Inc. Not only did the eight jurors in federal court in Manhattan determine that Stoker was not liable for misleading investors in a $1 billion collateralized debt obligation, they also offered a backhanded slap at the SEC. "This verdict should not deter the SEC from continuing to investigate the financial indu The agony of rebalancing (Reuters) - Portfolio rebalancing is one of those things which sounds sensible until you actually have to do it. Related Video Investors hit the hold button Young workers target apprenticeships Business News Wall Street rallies at open after payrolls report Job growth steps up, but jobless rate rises to 8.3 percent The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend