Category Economics

Angry S. Koreans flood banks after data leak

[digtaljournal.com] The panic has its roots in the arrest earlier this month of an employee from personal credit ratings firm Korea Credit Bureau, on charges of stealing and selling data from customers of three credit card firms while working as a temporary consultant.On Sunday financial regulators announced that at least 20 million people — in […]

NSA reportedly intercepting laptops purchased online to install spy malware | The Verge

While the report does not indicate the scope of the program, or who the NSA is targeting with such wiretaps, it\’s a unique look at the agency\’s collaborative efforts with the broader intelligence community to gain hard access to communications equipment. One of the products the NSA appears to use to compromise target electronics is […]

HSBC Gets Small Fine For Terrorist Transactions

Concluding that HSBCs actions \”were not the result of willful or reckless conduct,\” Treasurys Office of Foreign Assets Control accepted a $32,400 settlement from the bank. Treasury noted, as did HSBC in a statement to HuffPost, that the violations were voluntarily reported.Everett Stern, a former HSBC compliance officer who complained to his supervisors about the […]

How Debtors’ Prisons are Making a Comeback in America | A Lightning War for Liberty

  As if out of a Charles Dickens novel, people struggling to pay overdue fines and fees associated with court costs for even the simplest traffic infractions are being thrown in jail across the United States.Critics are calling the practice the new “debtors’ prison” — referring to the jails that flourished in the U.S. and […]

Bitcoin price halves as China clampdown escalates

\”The wealthy in China have always found ways, ether legally or illegally, to move their money out of the country,\” he told CNBC via telephone. He said that hints from the central bank that bitcoin exchanges were still legal meant there were \”mixed messages\” from the government. Chinese curbs may have hit the price of […]

First Nations schools need a bigger boost, economist to warn chiefs – The Globe and Mail

The chiefs, on the other hand, insist that assurances of increased long-term funding must be provided before any education legislation will get their approval. For years they have argued that a cap on core funding for First Nations education, which restricts federal increases to 2 per cent annually, has left their schools falling further and […]

ALEC Members Refuse to Sign a Pledge Supporting Democracy

Last Thursday while ALEC was holding its annual meeting in Washington D.C., a group of working family activists, AFSCME, the Postal Workers union APWU, AFT, and Jobs with Justice appeared at the meeting and asked ALEC members to sign a pledge “upholding the will of the people and support democracy, or leave their states.” The […]

NSA uses Google cookies to pinpoint targets for hacking

The agency\’s internal presentation slides, provided by former NSA contractor Edward Snowden, show that when companies follow consumers on the Internet to better serve them advertising, the technique opens the door for similar tracking by the government. The slides also suggest that the agency is using these tracking techniques to help identify targets for offensive […]

How NSA Mass Surveillance is Hurting the US Economy | Electronic Frontier Foundation

In September, analysts at Cisco Systems reported that the fallout “reached another level,” when the National Institute of Standards and Technology NIST told companies not to use cryptographic standards that may have been undermined by the NSA’s BULLRUN program. The C isco analysts said that if cryptography was compromised “it would be a critical blow […]

Margaret Thatcher tax shock: £12m mansion where she saw out her days registered in TAX HAVEN – Mirror Online

  But the £12million Central London mansion where the Iron Lady spent the last years of her life is owned by an anonymous trust registered in the British Virgin Islands – a ­notorious tax haven.Through this arrangement she could have avoided up to £5million in inheritance tax – the 40% that would have been due […]

Spies Land Wall Street Gigs – Business Insider

They get a pretty nice housing allowance and all that, but youve got an officer who, as part of his portfolio, hes supposed to be meeting with Joe Blow at Morgan Stanley or Goldman Sachs. And after a year or two of this, it begins to fray. And youve got these people at Goldman Sachs […]

Bosses May Use Social Media to Discriminate – WSJ.com

The study, a Carnegie Mellon University experiment involving dummy résumés and social-media profiles, found that between 10% and a third of U.S. firms searched social networks for job applicants\’ information early in the hiring process. In those cases, candidates whose public Facebook FB +0.58% Facebook Inc. Cl A U.S.: Nasdaq $46.70 +0.27 +0.58% Nov. 21, […]

Seattle City Councilmember-elect shares radical idea with… | www.kirotv.com

On Monday night, she spoke to supporters of Boeing Machinists, six days after they rejected a contract guaranteeing jobs in Everett building the new 777X airliner for eight years, in exchange for new workers giving up their guaranteed company pensions.Now Boeing is threatening to take those jobs to other states. “That will be nothing short […]

Google Takes Its Tracking Into The Real World | Digiday

Google is beta-testing a program that uses smartphone location data to determine when consumers visit stores, according to agency executives briefed on the program by Google employees. Google then connects these store visits to Google searches conducted on smartphones in an attempt to prove that its mobile ads do, in fact, work.Google declined multiple requests […]

Australian bitcoin user TradeFortress says site hacked, $1 million in virtual currency stolen – ABC News Australian Broadcasting Corporation

Unlike old currencies bitcoin is digital, traded computer-to-computer, and often used to pay for goods and services on the internet.But it has no central authority or government-based backing, and the alleged theft – one of the largest in the currencys four-year history – raises questions about digital money and if it can ever be regulated.A […]

Credit Suisse: Risk On – Business Insider

But there’s the hitch: “momentary.” Indeed, the current rally could start to fade as early as the beginning of 2014, says James Sweeney, a global fixed income strategist at Credit Suisse. While he and his colleagues predict a soft landing in most markets, rather than a crash, they are predicting a landing nonetheless. Which will […]

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