Financial
Government to track down thieves in Target breach PDF  | Print |  E-mail
Written by Associated Press   
Wednesday, 29 January 2014 12:10

WASHINGTON (AP) — Attorney General Eric Holder says the Justice Department is committed to tracking down the thieves who stole information from millions of customers of Target Corp.

In an appearance Wednesday before the Senate Judiciary Committee, Holder said that the government also will hunt down any people and groups that exploit the stolen data through credit card fraud.

Hackers stole about 40 million debit and credit card numbers in the pre-Christmas data heist. They also took personal information — including email addresses, phone numbers, names and home addresses — of another 70 million people.

Minneapolis-based Target says it is working with the Secret Service and the Justice Department in response to the data breach.


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
Emerging economies hike rates to defend currencies PDF  | Print |  E-mail
Written by PAN PYLAS, Associated Press   
Wednesday, 29 January 2014 10:50

LONDON (AP) — It's proving contagious.

First it was the central bank of India. A day later, on Wednesday, its counterparts in Turkey and South Africa followed suit in raising interest rates. But any hopes they had in supporting their currencies were dashed as markets continued to fall.

Currencies in emerging economies have been battered in recent days by a number of factors, including concern over global growth and the U.S. Federal Reserve's decision to rein in its money-creating stimulus.

A lower currency has the potential to stoke inflation by raising import prices — controlling inflation is the primary responsibility of central banks around the world.

India's central bank got the ball rolling with its surprise decision Tuesday to raise its main interest rate by a quarter of a percentage point to 8 percent. Though it justified the move in terms of keeping a lid on inflation pressures, protecting the rupee is widely considered to have been a key motive.

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Ohio plants contribute to Honda's export benchmark PDF  | Print |  E-mail
Written by Hal Brown/Sentinel-Tribune   
Wednesday, 29 January 2014 11:28

MARYSVILLE, Ohio (AP) — Japanese car company Honda is now exporting more cars than it imports — and many of them are assembled at two Ohio plants.

The Columbus Dispatch (http://bit.ly/1gqinJq ) reports that the assembly plants in Marysville and East Liberty — both northwest of Columbus — also broke annual production records last year.

The automaker exported 108,705 vehicles in 2013 and imported 88,537.

Of the total exports, nearly two-thirds — 69,680 vehicles — were assembled in the Ohio plants. They went to 40 countries.

The Honda Accord is assembled at Marysville, and its top crossover, the CR-V, is assembled at East Liberty.

Honda has about 13,700 employees in Ohio. In addition to the assembly plants, it has an engine plant in Anna, a transmission plant in Russells Point and other offices.

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Information from: The Columbus Dispatch, http://www.dispatch.com


Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 
Senate may delay flood insurance rate hike PDF  | Print |  E-mail
Written by ANDREW TAYLOR, Associated Press   
Wednesday, 29 January 2014 07:31

WASHINGTON (AP) — Flood insurance rate increases for hundreds of thousands of people would be put off under a bill on track to pass the Senate. Its future remains uncertain in the House, where a more modest plan is under consideration.

The legislation, which could pass the Senate as early as Wednesday, would delay for up to four years premium increases set to phase in next year on homeowners facing whopping premium increases under new flood maps. It also would allow homeowners with subsidized insurance policies to pass them on to people who buy their homes.

Other changes, including higher premiums for frequently flooded properties and on 1.7 million second homes, would remain in place. The White House is cool to the measure, but it has not threatened a veto.

A sweeping overhaul passed in 2012 was designed to make the federal flood insurance program more financially stable and bring insurance rates more in line with the real risk of flooding.

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