The Wall Street Journal reports, Global Payments Incorporated, the credit-card processor, reported a significant security breach Friday. Global Payments confirmed that hackers stole account numbers and other key information, from up to 1.5 million accounts in North America. Such information can be used to create counterfeit cards. The company did not say, how the intruders got access to the information. Global Payments also said that the thieves “exported” the information, which is typically more serious, than hackers who are only able to break in and view the data. The company said that, the criminals did not obtain cardholder names, addresses and Social Security numbers. The news, released Sunday night in a statement, came after the company received a fresh blow, over the weekend, when Visa Incorporated, terminated its seal of approval from the company.
The Wall Street Journal also reports, Fragrance maker Coty offered today to acquire Avon Products, in a cash deal that values the struggling door-to-door beauty products seller at roughly $10 billion. Coty, makes fragrances for brands like Calvin Klein, Vera Wang and Stetson. Avon rejected the bid today and said, the offer is opportunistic and substantially undervalues the company, adding it remains confident in its stand-alone prospects and is committed to its previously announced CEO search.
Bloomberg reports, Groupon’s latest restatement, following accounting missteps last year, heightens concern about the reliability of the company’s financial reporting, and raises questions whether auditors gave enough oversight, to the coupon provider’s novel business model. The company reported a “material weakness” in financial controls on March 30th. The announcement added to setbacks for Groupon, which has struggled to get its financial statements in order, since filing for an initial public offering in June.
Finally, Reuters reports, a passenger plane crashed and burst into flames, after takeoff in Siberia this morning, killing 31 people and putting the spotlight on Russia’s poor air-safety record, before Vladimir Putin’s return as president. Thirteen survivors were pulled from the wreckage, but one later died. The crash was the worst in Russia, since a passenger plane slammed into a riverbank, near the city of Yaroslavl after takeoff on September 7th, 2011, killing 44 people and wiping out the Lokomotiv Yaroslavl ice hockey team. President Dmitry Medvedev and Putin, who is prime minister until he takes over as president on May 7th, called for moves to improve Russia’s air safety after that crash, including better training and improved conditions on board. But their opponents are drawing attention to the lack of action since then, and the fact that Transport Minister Igor Levitan remains in office.
The Wall Street Journal reports, Global Payments Incorporated, the credit-card processor, reported a significant security breach Friday. Global Payments confirmed that hackers stole account numbers and other key information, from up to 1.5 million accounts in North America. Such information can be used to create counterfeit cards. The company did not say, how the intruders got access to the information. Global Payments also said that the thieves “exported” the information, which is typically more serious, than hackers who are only able to break in and view the data. The company said that, the criminals did not obtain cardholder names, addresses and Social Security numbers. The news, released Sunday night in a statement, came after the company received a fresh blow, over the weekend, when Visa Incorporated, terminated its seal of approval from the company.
The Wall Street Journal also reports, Fragrance maker Coty offered today to acquire Avon Products, in a cash deal that values the struggling door-to-door beauty products seller at roughly $10 billion. Coty, makes fragrances for brands like Calvin Klein, Vera Wang and Stetson. Avon rejected the bid today and said, the offer is opportunistic and substantially undervalues the company, adding it remains confident in its stand-alone prospects and is committed to its previously announced CEO search.
Bloomberg reports, Groupon’s latest restatement, following accounting missteps last year, heightens concern about the reliability of the company’s financial reporting, and raises questions whether auditors gave enough oversight, to the coupon provider’s novel business model. The company reported a “material weakness” in financial controls on March 30th. The announcement added to setbacks for Groupon, which has struggled to get its financial statements in order, since filing for an initial public offering in June.
Finally, Reuters reports, a passenger plane crashed and burst into flames, after takeoff in Siberia this morning, killing 31 people and putting the spotlight on Russia’s poor air-safety record, before Vladimir Putin’s return as president. Thirteen survivors were pulled from the wreckage, but one later died. The crash was the worst in Russia, since a passenger plane slammed into a riverbank, near the city of Yaroslavl after takeoff on September 7th, 2011, killing 44 people and wiping out the Lokomotiv Yaroslavl ice hockey team. President Dmitry Medvedev and Putin, who is prime minister until he takes over as president on May 7th, called for moves to improve Russia’s air safety after that crash, including better training and improved conditions on board. But their opponents are drawing attention to the lack of action since then, and the fact that Transport Minister Igor Levitan remains in office.