Economy & Business

Business news

FBI warns of sophisticated attack on ATMs

Aug 14, 2018

The website Krebs on Security reports that on Friday, the FBI sent banks around the country an alert. It said cyber criminals were preparing to a launch a global fraud scheme known as an “ATM cashout.” Small- and medium-sized banks appear most vulnerable to these kind of ATM attacks.

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Tinder's co-founders, along with eight other current and former executives, have slapped the popular dating app's owners with a massive lawsuit. In the suit filed Tuesday in New York, the Tinder employees past and present say the companies that own the app deliberately undervalued it to swindle them out of the money they were owed.

"Crazy Rich Asians" hits theaters Aug. 15 and is the first Hollywood studio film in 25 years to feature an all-Asian cast. It's based on the book by the same by Kevin Kwan and stars Constance Wu, Awkwafina, Henry Golding and Michelle Yeoh. In anticipation of the cultural significance of this moment, director Jon M. Chu felt that it was important to release it with a studio that could put it in theaters. He turned down a big offer from Nexflix and went with Warner Bros. instead.

No one knows for sure how many Americans have been convicted of a crime. But the number is in the millions, making the formerly incarcerated a significant portion of the population. Once these men and women have served their time, they find their troubles aren't over. It's exceptionally hard for former convicts to get a job, which is bad news for those individuals, for society and for the economy.

Next Monday, Aug. 20, is a red-letter day for the European Union. It’s Bailout Exit Day for Greece. The eurozone’s most heavily indebted member state will formally leave the program of financial support set up initially in 2012 when the cash-strapped country found itself unable to borrow in the markets at reasonable rates of interest.

International investors were shunning Greek government bonds for fear the country would default.

In Wisconsin, some agricultural officials are playing the role of matchmaker. They're bringing together the state's cheesemakers with prospective international buyers for a unique speed-dating event, hoping, in part, to ease the tariff pain affecting Wisconsin cheesemakers. They are specifically targeting new markets in countries they don't usually sell to. It's especially timely because of retaliatory tariffs on dairy products from the U.S. by Mexico and China.

Can Greece finally finance itself?

Aug 14, 2018

The Greek government is declaring the end of its financial crisis and will celebrate Bailout Exit Day on Aug. 20. But how do the Greek people really feel about their economy? We went to Greece to find out. Meanwhile, in America, banks have been warned by the FBI that ATM hacks are on rise. We tell you what you need to know. Also on today's show: Slavery is an ugly part of America’s business history, one often ignored. A new book, “Accounting for Slavery: Masters and Management,” examines this and the connections between slavery and capitalism.

Historian Caitlin Rosenthal extensively researched the morally reprehensible business of slavery for her new book, "Accounting for Slavery: Masters and Management." In the book, she lays out the case that slaveholding “planters” employed accounting and management techniques that are still in use by businesses today

Slavery in the United States was a business. A morally reprehensible — and very profitable business. Much of the research around the business history of slavery focuses on the horrors of the trans-Atlantic slave trade and the business interests that fueled it. The common narrative is that today's modern management techniques were developed in the factories in England and the industrialized North of the United States, not the plantations of the Caribbean and the American South.

According to a new book by historian Caitlin Rosenthal, that narrative is wrong.

There was a time when the chugging of fax machines was heard in every office. No longer since e-mail and instant messaging services took over our lives. Even so, many of those big, industrial scanner/printer/copiers in offices also have built in fax machines. And a new study says those machines can be very easily hacked. 

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The dam finally burst last week as many of the internet's largest platforms, like Facebook, YouTube and Apple Podcasts, banned conspiracy theorist Alex Jones. His site, InfoWars, has gained legitimacy from President Donald Trump in recent years, even as it spews hate speech and tars Sandy Hook victims as government-employed "crisis actors." Notably, Twitter didn't join other Silicon Valley titans in banning Jones. We talked with St.

The Turkish lira found some footing Tuesday morning, with its downward slide stopping for the time being. Still, the currency is down nearly 40 percent this month, and Turkish President Recep Tayyip Erdoğan, who sees Turkey as under economic attack, has declared that the country will boycott American electronic goods, singling out iPhones as an example.

(Markets Edition) The Turkish lira actually stopped falling for a change, actually rising about 5 percent today. But, plenty of damage still remains as it's still lost a third of its value in the past month. Businesses and Turkish citizens are still reeling from the drop, and the country's economic model is under scrutiny. We talk to a global economist from Wells Fargo Securities to get a clearer picture. Then, we'll get an update on American debt when the Federal Reserve Bank of New York releases calculations for the spring to early summer quarter.

In the days before streaming video and mail-order movies, the blue and orange sign proclaiming a Blockbuster video was the draw for millions of Americans settling into their living rooms for weekend movies. But competition and technology have now rendered the once giant chain to just one U.S. store in Bend, Oregon. And its manager says they plan to stay open, even as the others have closed.

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For people who make too much money to qualify for health insurance subsidies on the individual market, there may be no Goldilocks moment when shopping for a plan. No choice is just right.

A policy with an affordable premium may come with a deductible that's too high. If the copayments for physician visits are reasonable, the plan may not include their preferred doctors.

These consumers need better options, and in early August federal officials offered a strategy to help bring down costs for them.

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