Sabtu, 03 Agustus 2019

Class action lawsuit launched in Vancouver over Capital One data breach - CTV News

VANCOUVER - A Vancouver law firm says a class action lawsuit has been launched on behalf of six million Canadians whose personal information was compromised by a data breach at Capital One Financial Corp.

Ted Charney, lead counsel of Charney Lawyers, says the breach may turn out to be “extremely serious.”

In addition to credit card application data such as phone numbers, email addresses, dates of birth and self-reported income, the hacker was also able to access credit scores, credit limits and balances, as well as fragments of transaction information from a total of 23 days in 2016, 2017 and 2018.

Charney says the account information is highly sensitive and in the wrong hands could be used to commit identity fraud or to cause damage to credit reputations.

The hacker is alleged to have been in possession of the data since March, but it remains unclear to what extent the hacker sold or distributed the data online.

The Office of the Privacy Commissioner of Canada says it is investigating the hack, which included one million social insurance numbers that had been accessed without authorization.



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August 03, 2019 at 11:02PM

Beyond Meat sandwiches help drive traffic to Tim Hortons, says parent RBI - Yahoo Canada Finance

Canadian law firm launches class action lawsuit after Capital One data breach - CBC.ca

Capital One data breach: here’s what Canadians need to know - Global News

A Capital One Financial data breach left the personal information of six million Canadians compromised, the company revealed Monday.The company provides Mastercard credit cards for Costco Wholesale’s Canadian retail network and the Hudson’s Bay Company.The FBI has arrested the alleged hacker, who also reportedly accessed the information of 100 million United States residents, the company said in a press release.READ MORE: Capital One data breach hits about 6 million people in Canada, 100 million in U.S.It also apologized over the incident.“While I am grateful that the perpetrator has been caught, I am deeply sorry for what has happened,” Capital One chairman and CEO Richard Fairbank said.WATCH: How to keep your personal data safe from hackers


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August 02, 2019 at 03:49AM

Warren Buffett is lying in wait. Berkshire Hathaway has $122 billion in cash - CNN

Warren Buffett's industrial and insurance conglomerate ended the second quarter with a record $122 billion in cash, according to an earnings report released on Saturday.
Buffett has said he wants to make a big acquisition, but in a letter to shareholders this year said prices "are sky-high for businesses possessing decent long-term prospects." Buffett said last year that his investment philosophy is to stick with "big, 'easy' decisions and eschew activity."
The lack of spending might also indicate Buffett is still optimistic in the current economy. After all, the billionaire's Berkshire famously invested in Goldman Sachs during the 2008 financial crisis, at a tumultuous time when few besides the government were willing to lay dollars down.
"Due to the diversity of its businesses, Berkshire is a wonderful bellwether for what is going on in the economy," said Trip Miller, managing partner at Gullane Capital. "Hopefully, cash will serve him and his partners well when the market suffers a pullback."
The company posted operating earnings that are slightly down year over year, due in part to lower income from insurance underwriting. In the quarter ending in June, it posted $6.14 billion in operating earnings, compared with $6.89 billion in the same quarter last year.
Net earnings were $14 billion.
Berkshire (BERK) also disclosed that it did not receive financial statements for Q1 and Q2 from Kraft Heinz, which the company regards as its most "significant investment." Kraft did provide its 2018 10-K filing with the US Securities and Exchange Commission, which led Berkshire to reduce the carrying value of its Kraft investment by $34 million.
Kraft is set to release earnings on August 8, its first since it disclosed last year a more than $15 billion writedown on its Kraft and Oscar Mayer brands.
In May, Buffett called the news about Kraft not disclosing any financial documents "very unusual" and suggested that it could have been due to a dispute the company was having with its auditor, PricewaterhouseCoopers.
Berkshire also bought back about $442 million in stock last quarter, a down tick from the $1.7 billion purchased in the first quarter.
Previously, the company did not allow stock buybacks. The board changed a rule last year to allow the company to begin purchasing back billions of dollars worth of stock, a practice that has been criticized by some analysts as inflating share prices. In the first six months of this year, the company has bought back $2.1 billion.
Warren Buffet is well known as an investing guru who recommends diversification, and Berkshire certainly doesn't have its eggs all in one basket. As of June 30, Berkshire had a $18.7 billion stake in equity securities in American Express, $50.5 billion in Apple, $27.6 billion in Bank of America, $20.4 billion in Coca-Cola and $20.5 billion in Wells Fargo.

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https://www.cnn.com/2019/08/03/business/berkshire-hathaway-q2-earnings/index.html

2019-08-03 15:48:00Z
52780344291294

Stocks To Watch: Trading Tariff Turbulence - American Airlines Group Inc. (NASDAQ:AAL) - Seeking Alpha

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Stocks To Watch: Trading Tariff Turbulence - American Airlines Group Inc. (NASDAQ:AAL)  Seeking Alpha

Welcome to Seeking Alpha's Stocks to Watch - a preview of key events scheduled for the next week. Follow this account and turn the e-mail alert on to receive th.


https://seekingalpha.com/article/4281172-stocks-watch-trading-tariff-turbulence

2019-08-03 12:35:00Z
CAIiEM48HnbS7A0MN9eQr5kzCSkqFQgEKg0IACoGCAowkqEGMJBZMPCxAw

Berkshire Hathaway profit falls as insurance underwriting declines - Yahoo Finance

Buffett, chairman and CEO of Berkshire Hathaway, takes his seat to speak at the Fortune's Most Powerful Women's Summit in Washington

By Jonathan Stempel

(Reuters) - Berkshire Hathaway Inc <BRKa.N> on Saturday said its quarterly operating profit fell more than analysts expected, as weaker results from insurance underwriting and a slowing economy weighed on the conglomerate run by billionaire Warren Buffett.

The auto insurer Geico suffered larger accident gains, while cargo volumes for consumer and agricultural products declined at the BNSF railroad. Earnings barely budged in Berkshire's manufacturing and its service and retailing lines of business.

Second-quarter operating profit declined 11% to $6.14 billion, or roughly $3,757 per Class A share, from $6.89 billion, or roughly $4,190 per Class A share, a year earlier.

Analysts on average expected operating profit of $3,851.28 per share, according to Refinitiv IBES.

Berkshire also said quarterly net income rose 17% to $14.07 billion, or $8,608 per Class A share, from $12.01 billion, or $7,301 per Class A share, a year earlier, reflecting higher unrealized gains on Berkshire's investments.

A U.S. accounting rule requires Berkshire to report such gains with earnings. That rule adds volatility to Berkshire's net results, and Buffett says it can mislead investors.

The U.S. economy's annualized growth rate slowed to 2.1% in the second quarter from 3.1% in the first quarter, as an acceleration in consumer spending was partially offset by declining exports, manufacturing and business investment, reflecting the U.S.-China trade war.

Berkshire ended June with $122.4 billion of cash and equivalents, though it spent $2.1 billion in the quarter to repurchase its own stock.

The cash hoard reflects Buffett's 3-1/2-year drought in finding major acquisitions. He committed $10 billion in April to help Occidental Petroleum Corp <OXY.N> buy rival Anardako Petroleum Corp <APC.N>.

Berkshire operates more than 90 businesses that also include Dairy Queen ice cream, Fruit of the Loom underwear, and its namesake energy company and real estate brokerage.


(Reporting by Jonathan Stempel in New York; Editing by Hugh Lawson)

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https://finance.yahoo.com/news/berkshire-hathaway-profit-falls-insurance-122102592.html

2019-08-03 12:21:00Z
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