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The Week Ahead: The cyber assault on financial info

Business / Business News /

If the Equifax security breach didn't get investors' attention -- and it should have -- the hack of Edgar will.

Edgar stands for Electronic Data Gathering, Analysis and Retrieval system. It is the Securities and Exchange Commission's online filing system for all kinds of financial data by publicly traded companies. Most of that data becomes ...Read more

Mark Phelan: GMC adds luxury, new looks to buff brand's image and boost sales

Business / Business News /

General Motors is feeding its golden goose.

The automaker, which once behaved as if "brand strategy" were another term for wringing every penny from its brands today with little thought of the future, is investing in new vehicles and features to strengthen its low profile but hot-selling and highly profitable GMC brand.

"We have huge ambitions...Read more

Toys R Us plans to hire thousands of seasonal workers despite bankruptcy

Business / Business News /

Toys R Us Inc. said Thursday it plans to again hire thousands of part-time workers nationwide for the holiday shopping season despite the toy chain's bankruptcy filing this week.

The company did not specify the number of additional hires for this year's holidays but in recent years it's added about 40,000 seasonal employees.

Toys R Us operates...Read more

Calgon Carbon's stock spikes on news of $1.3 billion deal to be acquired by Japanese firm

Business / Business News /

PITTSBURGH -- In an announcement destined to produce a collective swoon among shareholders, Pittsburgh-based Calgon Carbon said Thursday it agreed to be acquired by a much larger Japanese company for about $1.1 billion in cash.

The offer by Kuraray Co. Ltd. at $21.50 per share represented a 63 percent premium over Calgon Carbon's closing price ...Read more

Amazon plans to double staff in New York City

Business / Business News /

SEATTLE -- It's not a second headquarters, but Amazon.com says it will add about 2,000 employees in New York City during the next three years, more than doubling an outpost focused on the online retailer's advertising business.

Seattle-based Amazon already employs about 1,800 people in the Big Apple, spread across advertising roles, a fashion ...Read more

Facebook to provide ads bought by Russian company to congressional committees

Business / Business News /

WASHINGTON -- Facebook said Thursday that it would turn over to Congress copies of more than 3,000 ads linked to a shadowy Russian company, for House and Senate committees' investigations of Kremlin interference in the 2016 election.

The move is an about-face for Facebook, which earlier this month said it had given the ads and other information...Read more

SEC reveals 2016 hack that may have been used for illegal trades

Business / Business News /

WASHINGTON -- The nation's top financial markets regulator has revealed that its computer system was hacked last year and that private information might have been used to make "illicit gains" through stock trades.

Jay Clayton, the chairman of the Securities and Exchange Commission, said in a statement posted on the agency's website Wednesday ...Read more

Profit dispute over 'The Walking Dead' rages for four years

Business / Business News /

Since it began airing in 2010, "The Walking Dead" has resurrected far more than just the dearly departed.

With its through-the-roof ratings, the series breathed new life into the zombie genre, resuscitated the career of show developer Frank Darabont and revived the fortunes of AMC Networks by helping to turn its namesake cable station into a ...Read more

Q&A: Iraq's Kurds seek independence. What will the impact be on oil markets?

Business / Business News /

LONDON -- Iraq's Kurdish provinces plan to vote in a referendum on independence on Sept. 25, a poll that regional and Western powers, not to mention the central government in Baghdad, have decried as a catalyst for greater instability in a region gutted by war. At stake are the petrodollars that have helped sustain the Kurdish Regional ...Read more

Real estate Q&A: Hurricane delays home closing — Now what?

Business / Business News /

Q: We were in the middle of buying our new home when Hurricane Irma arrived. We still want to buy the home. What happens now? -- Joan

A: When a hurricane is approaching, it becomes impossible to get homeowner's insurance, causing most closings to be delayed.

The standard real estate contract used in most closings will contain a clause dealing ...Read more

Equifax breach could shake consumer confidence

Business / Business News /

ATLANTA -- It's too early to know if Equifax's massive data breach will have a significant impact on the U.S. economy, but it's not too soon to worry, economists say.

The Atlanta-based company recently acknowledged that information on 143 million people was commandeered by hackers. That's not the largest such breach -- information from more ...Read more

Tech Q&A: Fixing a PC that shuts off by itself

Business / Business News /

Q: My desktop PC has started turning itself off less than five minutes after I turn it on. But when I restart the PC, it stays on with no problem. I run anti-malware software daily. What's wrong?

-- Maggie Freese, Plymouth, Minn.

A: If your PC has an electrical short circuit that's causing it to shut off, fixing it will be a job for a repair ...Read more

Is that computer security company loyal to you, or collaborating with the government?

Business / Business News /

WASHINGTON -- The Trump administration's ban on the use of a Russian cybersecurity firm's software is heightening suspicion worldwide that private internet firms might be in league with their home governments, an industry leader said Wednesday.

The Trump administration last week told U.S. government agencies to remove Kaspersky Lab products ...Read more

Hearing offers peek at what Uber stands to lose in Waymo trial

Business / Business News /

SAN JOSE, Calif. -- With three weeks to go until the explosive Waymo v. Uber trial begins, court-watchers got a peek Wednesday at the hefty price tag Uber could face if it loses.

Waymo is seeking $2.6 billion in damages for just one of the nine self-driving car trade secrets it claims Uber misappropriated, lawyers disclosed at a hearing in ...Read more

Facebook moves to block offensive terms from targeted advertising campaigns

Business / Business News /

Advertisers on Facebook no longer can use offensive search terms such as "Jew hater" and "how to burn Jews" to target specific audiences, the company said Wednesday.

The new policy comes a week after ProPublica published a story demonstrating how advertisers could reach thousands of Facebook users by entering hateful search terms on the social ...Read more

General Mills has chocolate peanut butter Cheerios on the horizon

Business / Business News /

MINNEAPOLIS -- General Mills Inc.'s latest results disappointed investors, but executives said the company is on track to meet financial goals for its new fiscal year and revealed a potential hit product -- chocolate peanut butter Cheerios.

Recalibrating a financial model gone slightly awry, General Mills executives and staffers are now trying ...Read more

Federal Reserve will start reducing stockpile of bonds it bought to stimulate the economy

Business / Business News /

WASHINGTON -- The Federal Reserve announced Wednesday that it would start slowly reducing the trillions of dollars in bonds it bought to try to stimulate the economy, another milestone in the central bank's efforts to return to a normal monetary policy after the Great Recession.

The long-awaited reduction in the Fed's $4.5 trillion balance ...Read more

Concerns over Fox News prompt further scrutiny of Murdoch bid for Sky

Business / Business News /

LOS ANGELES -- Britain's secretary of state on Wednesday ruled that the bid by Rupert Murdoch's media company to control the European satellite TV service Sky must undergo more rigorous regulatory scrutiny.

Karen Bradley, Britain's secretary of state for culture and media, formally referred 21st Century Fox's bid to consolidate the Sky service ...Read more

Bitcoin's likely to split again in November as debate rages on

Business / Business News /

HONG KONG -- Bitcoin is looking increasingly likely to splinter off again in November, creating a third version of the world's largest cryptocurrency as miners and developers pursue separate visions to scale its rapidly growing marketplace.

Major industry players, including the bitcoin investor Roger Ver, known as "Bitcoin Jesus" for ...Read more

Trump threats loom as China weighs opening to Wall Street, Tesla

Business / Business News /

Coincidence or not, China appears set to ease restrictions on foreign automakers and banks amid sustained pressure from U.S. President Donald Trump to open up its economy.

China's central bank is said to be drafting a package of reforms that could include allowing foreign firms to take control of local joint-ventures in the nation's $40 ...Read more