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Equifax breach has broad consequences, important lessons

Business / Business News /

WASHINGTON -- For as many as 143 million consumers whose personal data was stolen in the breach of the Equifax credit bureau, here's how criminals might take advantage:

They might try to buy a gun in your name. Or get a second mortgage on your house. They could lease a car by impersonating you, and crash it. They might steal your tax refund ...Read more

'Kingsman' hits target, 'Lego Ninjago' disappoints as franchises hit and miss at box office

Business / Business News /

LOS ANGELES -- R-rated thrill rides continue to rule the box office with 20th Century Fox's profane spy sequel "Kingsman: The Golden Circle" and New Line Cinema's horror flick "It" dominating the top spots.

A sequel to the 2015 hit "Kingsman: The Secret Service," the $104 million film debuted just below analysts' predictions of $40 million to $...Read more

'No Progress' in NAFTA talks, Canadian labor leader says

Business / Business News /

OTTAWA, Ontario -- The head of Canada's largest private-sector union said there's been "no progress" in North American Free Trade Agreement talks and that he expects the U.S., Mexico and Canada to eventually abandon them.

The U.S. hasn't presented detailed written proposals at the third round of talks being held in Ottawa, Jerry Dias said ...Read more

Americans should be wary of Cuban humanitarian fund

Business / Business News /

After Hurricane Irma's devastating 72-hour pass through northern Cuba, the Cuban government took a novel approach to storm relief: It posted a Cuban bank account number on social media where donations can be sent.

Even though the Cuban Foreign Ministry provided the code to facilitate donations to an account at the government Banco Financiera ...Read more

Susan Tompor: Cool personal finance apps that just might save you money

Business / Business News /

With many millennials turning to their smartphones to pay up, instead of digging into their wallets for cash, it's little surprise that everyone from startups to big banks want to smack a financial app on all those mobile wallets.

Splitting the cost for tickets for an upcoming football game or concert is super easy with apps like Venmo, Square ...Read more

Latest target of North Korean hackers: bitcoin exchange platforms

Business / Business News /

WASHINGTON -- Broadening their criminal repertoire, North Korean hackers are seeking to loot exchange platforms for bitcoins and other digital currencies, a researcher for the cybersecurity firm FireEye says.

Luke McNamara, a senior cyberthreat intelligence analyst with the Milpitas, Calif., firm, said the hackers targeted three bitcoin ...Read more

SEC hack threatens a bedrock of US capitalism: transparency

Business / Business News /

WASHINGTON ––The U.S. Securities and Exchange Commission says its database of company filings has significantly increased corporate transparency. But a hack that led to the theft of market-moving secrets is the latest sign that technology also brings dangers the SEC is struggling against.

The breach adds to a growing list of SEC ...Read more

Sprint, T-Mobile closing in on merger deal, reports say

Business / Business News /

KANSAS CITY, Mo. -- Sprint and T-Mobile are again reportedly close to agreeing to tentative terms for a merger.

Reuters, citing unnamed sources, reported Friday that SoftBank Group Corp, which controls Sprint, would own 40 percent to 50 percent of the combined new company, which would be dominated by T-Mobile majority owner Deutsche Telekom.

...Read more

Hewlett Packard Enterprise to cut 5,000 jobs, 10 percent of its workforce, report says

Business / Business News /

Hewlett Packard Enterprise Co. is planning to lay off at least 5,000 employees, or about 10 percent of its workforce, according to a business media report.

Bloomberg reported Thursday that the job cuts, which will occur in the U.S. and abroad, are expected to begin before the end of the year. HP Enterprise did not immediately respond to a ...Read more

Trump positioned to slap potentially crushing tariffs on solar industry

Business / Business News /

WASHINGTON -- U.S. trade officials on Friday empowered President Donald Trump to impose tariffs that could cut off the solar energy industry from the cheap foreign-made panels that have driven its explosive growth.

The tariffs under consideration are meant to protect a small number of American solar-panel manufacturers reeling in the face of ...Read more

The Journey: Don't get KO'd by nursing home costs

Business / Business News /

When boxer Mike Tyson famously said, "Everybody has a plan until they get punched in the mouth," he probably wasn't thinking about nursing home costs.

But those costs can decimate a retirement plan in a very ugly fashion, and what's truly frightening is the lack of consensus there is on how to avoid such a fate.

Insurers are offering hybrid ...Read more

Consumer Confidential: Experian's 'free' service really isn't

Business / Business News /

The ad opens with quick cuts of creepy-looking hackers in sinister surroundings. A serious male voice asks: "Is your personal information already being traded on the dark web?"

Then the imagery brightens -- a sunny kitchen, a family playing with a fluffy white dog. "Find out with Experian," says a friendly female voice. "Act now to help keep ...Read more

Gail MarksJarvis: How to build a rich life, even if you aren't a financial genius

Business / Business News /

You don't have to be a genius, a math brain or know anything about the stock market to invest your money well and retire comfortably.

Most people don't think of themselves as investors. But just about anyone with a fourth-grade education can get key money decisions right -- like feeding a 401(k) or IRA regularly -- and retire with a stash that'...Read more

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