April 6, 2014 |
SACRAMENTO - The recent hacking of customer data from Target Corp. computers is roiling the California Legislature. Last week, two members of the Assembly touted a bill to strengthen consumer safeguards and limit the type of information collected and retained by retailers. The measure, AB 1710, may trigger one of the year's biggest disputes over business-related legislation. "It'll be a big fight, a tough fight," said Bill Dombrowski, president of the California Retailers Assn.
April 3, 2014 |
Sounding alarm over an especially sinister new wave of cybercrime, regulators are warning bankers that hackers have succeeded in changing the controls on automated teller machines to allow thieves to make nearly unlimited withdrawals. The hackers often schedule the withdrawals for holidays and weekends, when extra dollars are loaded into ATMs and monitoring by the banks drops off, an umbrella group for financial regulators said Wednesday. The U.S. Secret Service is calling the scam Unlimited Operations because it circumvents the usual caps on ATM withdrawals, enabling the criminals at times to extract far more than depositors have in their accounts.
March 3, 2014 |
A headline Monday in Politics Now, the L.A. Times' blog on national politics, distilled the challenge facing Rep. Paul D. Ryan (R-Wis.) as he tries to broaden his party's appeal. The story by Lisa Mascaro was about a report the House Budget Committee (which Ryan chairs) released Monday on Washington's "duplicative and complex" array of benefits for the poor. Declared the headline: "Paul Ryan calls for cuts to anti-poverty programs. " The report didn't actually call for cuts, however.
February 26, 2014 |
The massive theft of Target Corp. customer data contributed to a huge drop in fourth-quarter profit as the retailer scrambled to win back the trust of consumers and shore up its hobbled payments system. The Minneapolis-based chain reported that profit was nearly halved from a year earlier to $520 million and revenue slid 5% to $21.5 billion. Target also racked up $61 million in expenses related to the hack, though it expects all but $17 million of that to be covered by insurance.
February 26, 2014 |
The holiday season was never going to be easy for Target Corp. as it tried to lift foot traffic and keep up with competitors' discounts. But it was the vast data breach at the Minneapolis retailer in the heat of Christmas shopping season that really knocked the Minneapolis-based chain off its feet. And, the company said Wednesday, the hack may continue to have financial repercussions for months to come. Target's net income for the fourth quarter ended Feb. 1 slumped 46% to $520 million, or 81 cents a share, from $961 million, or $1.47 a share a year earlier.
February 25, 2014 |
LONDON - Former British tabloid editor Rebekah Brooks testified in court Tuesday that she was unaware phone hacking was illegal but was shocked to discover someone at her newspaper had tapped into the voicemails of a kidnapped teenager who was later found slain. Brooks, onetime editor of the Rupert Murdoch-owned News of the World, said the first time she'd heard that the cellphone of 13-year-old Milly Dowler had been hacked was in July 2011, nearly a decade after the event. The revelation that the tabloid had accessed the missing girl's voicemail messages in search of a scoop mushroomed into a national scandal in Britain, resulting in a wave of public revulsion, the shutdown of the News of the World, the end of Brooks' journalistic career, the resignation of the head of Scotland Yard and the arrests of dozens of people in an investigation that is still underway.