Detroit Showdown: In Detroit, government leaders will square off against retired city workers in federal court this week, the Washington Post reports. About half of Detroit’s debt - $9.2 billion - is for retirees' pension and health benefits.
Trouble in China: GlaxoSmithKline, target of a bribery probe in China, said Monday some executives may have broken the law, while rival drug maker AstraZeneca said police are investigating one of its sales representatives, The New York Times reports.
It Could Have Been Worse: In its case against billionaire Steven Cohen, the Securities and Exchange Commission stops short of accusing the owner of SAC Capital Advisors LP of insider trading. While the proceeding may result in his being barred from managing other people’s money, it won’t carry the potential penalties available if the SEC had sued him for insider trading. It also pales in comparison to a grand jury indictment for securities fraud, Bloomberg reports.
Talk About Blaming the Victim: Norwegian interior designer Marte Deborah Dalelv has spoken out after being handed a 16-month prison sentence in Dubai -- after she went to police to report she had been raped by a colleague, CNN reports. She was charged with having sex outside of marriage.
Chump Change: UBS may have shelled out $920 million to settle a Federal Housing Finance Agency lawsuit over soured mortgage investments, but that didn’t stop the Swiss bank from posting a hefty rise in second quarter profits, beating forecasts, Reuters reports.
What is it about Cleveland?: A suspicious odor unearthed one body in a trash bag in a rundown neighborhood here, and then two more were found over the weekend, and police expected Monday to charge a man who indicated he might have been influenced by a serial killer whose home just miles away was found littered with bodies a few years ago, the Associated Press reports.