On Monday, Equifax Inc. announced it struck a $700 million settlement deal to resolve investigations and lawsuits stemming from its 2017 data breach which exposed the personal data of nearly 150 million Americans. The credit-reporting company settled with the Consumer Financial Protection Bureau, the Federal Trade Commission, 48 states, the District of Columbia and Puerto Rico. If approved by the federal district court in the Northern District of Georgia, the agreement would require Equifax to establish a $425 million fund for monetary relief to consumers and pay the CFPB a $100 million civil penalty, among other relief, the agencies and states. Consumers can file claims online or by mail to a settlement administration and could be eligible for as much as $20,000 for lost time and money, such as $25 an hour for as much as 20 hours spent on protecting personal information or addressing identity theft after the breach. Affected consumers are also eligible to receive at least 10 years of free credit-monitoring and at least seven years of free identity-restoration services. They will also be able to request as many as six free copies of their Equifax credit report during any 12-month period starting Dec. 31 The deal clears a cloud that has hung over Equifax since it revealed in September 2017 that hackers had penetrated its systems and gained access to consumers’ personal information.
Rumor has it Apple is in advanced talks to buy assets from Intel’s modem chip business, potentially acquiring patents and staff valued at $1 billion or more. A deal could be announced as soon as next week. Intel currently provides LTE modem chips for Apple’s latest generation of iPhones. The possible deal would give Apple access to engineering work and talent behind Intel’s year long push to create chips that will move the world toward 5G technology, potentially saving years of development. According to analysts 5G is a critical technology for Apple and could spur major increase in upgrades when the technology is integrated into iPhones.
Asia: Asian stocks edged up on Tuesday, as investors await closely-watched central bank meetings in the coming days.
Europe: European stocks closed mixed Monday afternoon as investors digested a fresh batch of corporate results.
U.S: U.S. markets closed higher stocks inched higher, as investors prepared for a week filled with fresh economic data and more corporate earnings reports. DJIA: +17.70 27,171.90 NASDAQ: +57.65 8,204.14 S&P: +8.42 2,985.03
Word of The Day:
Exchange Traded Funds (ETF)
A security that tracks an index, a commodity or a basket of assets like an index fund, however it trades like a stock on an exchange. ETFs experience price changes throughout the day as they are bought and sold just like their bff stocks.
1 part Pinnacle® Peach Vodka
2 parts Lemon-Lime Soda
Mix and serve over ice. Garnish with peach slices.