Details Emerge on Global Bank Heists by Hackers
“I remain concerned that there are critical security gaps in the international payment system,” Ms. Maloney said in a statement.She also released correspondence between her office and the Federal Reserve Bank of New York, in which the bank’s general counsel, Thomas C. Baxter Jr., assured her that “there is no evidence that any Federal Reserve systems were compromised.”Investigators briefed on the investigation at the Bangladesh central bank say that they had uncovered the presence of three grou..>> view originalAnti-Counterfeit Group Suspends Alibaba After a Month
An anti-counterfeit group suspended the membership of Alibaba Group Holding Ltd., one month after the Chinese Internet giant joined, after questions were raised about conflicts of interest involving the coalition’s president and complaints from some members.The International AntiCounterfeiting Coalition, a nonprofit global organization that fights counterfeit products and piracy, created a new membership category in April that allowed Alibaba to join. Alibaba is trying to shed its image as a ha..>> view originalDay after old post office deal done, longtime owner is dead
Just a day after City Hall announced that Bill Davies' company relinquished control of Chicago's massive old main post office building, a representative for the 82-year-old Brit said the eccentric entrepreneur has died. Davies — who touted several proposals to redevelop the crumbling building on the western entrance to downtown Chicago after buying the property at auction for $24 million in 2009 — died after "a short illness," according to Sue Sadler, who acts as a spokeswoman for Davies' compa..>> view originalWarren Buffett supports bid for Yahoo assets
Berkshire Hathaway CEO Warren Buffett, 85, has yet to announce a successor.(Photo: Nati Harnik, AP)SAN FRANCISCO — Billionaire investor Warren Buffett is throwing his considerable clout behind a consortium bidding for Yahoo's Internet assets that includes Dan Gilbert, Quicken Loans' founder and owner of the NBA's Cleveland Cavaliers, a person familiar with the situation told USA TODAY.The report sent Yahoo (YHOO) shares up 1.4% to $37 per share in after-hours trading. Berkshire Hathaway's B clas..>> view originalPfizer moves to block its drugs from being used in lethal injections
Drugs used in executions are no longer available through "the normal pharmaceutical market," said Robert Dunham, executive director of the Death Penalty Information Center. Every U.S. drug maker with products that have been used in executions has gone on record to say they don't want that to happen any more, he said."States at this point have decisions to make," Dunham said.Lethal injection is the primary means of execution in all 31 death-penalty states. Since 1976, 1,436 people have been execu..>> view originalChina's Economy Grinds Down a Gear as Heavy Industry Drags
China’s economy resumed its grind toward slower growth in April, weighed by overcapacity industries such as steel and coal.Industrial production climbed 6 percent in April from a year earlier, down from 6.8 percent in March and missing economists’ estimates for 6.5 percent. Retail sales also missed analyst forecasts, rising 10.1 percent, while fixed-asset investment increased 10.5 percent in the January-April period versus economists’ expectation for 11 percent.After a rocky start to 2016 marke..>> view originalInvestors could yank as much as $500B from hedge funds in 2016
LAS VEGAS — The $3.2 trillion hedge fund industry, reeling from its worst quarter for withdrawals since the financial crisis, is bracing for more pain. Hedge funds, which watched in horror as investors yanked $15 billion from the funds in the first three months of the year, could see that figure climb to $500 billion by the end of the year, one pension investor said. “We have all the leverage,” one investor said, echoing a familiar refrain at this year’s SkyBridge Alternative, or SALT, conferen..>> view originalHonda expands Takata air bag recall - San Antonio Express
Honda expands Takata air bag recall Takata air bag recall taking toll on its biggest client By Jonathan Soble, New York Times May 13, 2016 Updated: May 13, 2016 5:36pm Photo: Dario Pignatelli /Bloomberg News Honda reported a rare quarterly loss Friday because of expenses stemming from the air bag recall. The ..>> view originalRetailers Stifle U.S. Stocks in Week as Growth Worries Mount
The weakness plaguing consumer companies proved contagious and pushed U.S. stocks to the longest streak of weekly declines since January’s market meltdown.The S&P 500 Index dropped for a third week after disastrous reports from Macy’s Inc. to Nordstrom Inc. sent retail shares tumbling. While apparel makers led the decline, falling to a three-month low, the selling affected a swath of industries that rely on consumer spending. Airlines, media companies and real-estate firms all sank at least 1.8..>> view originalStrong US retail sales, consumer sentiment data buoy economic outlook
Customers shop at a Bed Bath & Beyond in New York. The jump in sales reported by the Commerce Department on Friday is a boost for the sector that has been hit by sluggish demand. (Mark Lennihan/AP) By Lucia Mutikani May 13 at 4:19 PM U.S. retail sales in April recorded their biggest increase in a year as Americans stepped up purchases of automobiles and a range of other goods, suggesting the economy was regaining momentum after growth almost stalled in the first quarter. The jump in sale..>> view original
Saturday, May 14, 2016
Details Emerge on Global Bank Heists by Hackers and other top stories.
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