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Jul 23

Highlights:
How Much…..

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.

More Chips…

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.

Markets:
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.

Peachy Keen

1 part Pinnacle® Peach Vodka
2 parts Lemon-Lime Soda
Peach Slices

Mix and serve over ice. Garnish with peach slices.

Jul 19

Highlights:

Money, Money…

Boeing announced Thursday it will take a $4.9 billion charge in the second quarter due to the worldwide grounding of its 737 Max planes after two fatal crashes that killed 346 people. The charge, which comes to $8.74 a share, will most likely to wipe out profits. Analysts had expected the company to report a per-share profit of $1.80 for the second quarter. According Boeing, the charge will also reduce revenue and pre-tax earnings by $5.6 billion in the quarter. The 737 Max jets have been grounded since mid-March and regulators have not said when they expect to allow the planes to fly again.

What The What???

An apparent glitch in Uber’s systems resulted in some customers of the company being charged 100 times their advertised fares on Wednesday. One customer wrote on Twitter that she was charged $1,308 for her Uber ride, sparking a fraud alert from the credit card company, instead of the advertised fare of $13.08. Uber responded by telling customers that the problem was caused by a “known issue” that created “very high” charges. The company has fixed the problem, but didn’t provide an explaination what caused the issues. It wasn’t immediately clear how many consumers were impacted by the glitch.

Markets:
Asia: Asian stocks closed out the week in the green, as comments from a U.S. Federal Reserve official led to rising expectations the central bank could ease monetary policy more than expected.
Europe: European shares closed lower on Thursday as not so pretty earnings have some investors worried.
U.S.: U.S. markets closed higher on Thursday after a Federal Reserve official said central banks must lower interest rates swiftly on signs of economic weakening. DJIA: +3.12 27,222.97 NASDAQ: +22.04 8,207.24 S&P: +10.69 2,995.11

Word Of The Day:

Quantitative Trading

A trading strategy based on quantitative analysis, which relies on mathematical computations and number crunching to identify trading opportunities. Generally used by financial institutions and hedge funds where the transactions are usually large in size involving the sale of hundreds of thousands of shares.

Dinner or Drink:
Mellon-Berry Mist

1 part Midori® Melon Liqueur
1 part Pinnacle® Original Vodka
1 part Cranberry Juice
3 – 4 Strawberries
1 Cucumber
Muddle a few strawberries and two thick round slices of cucumber well, add the remaining ingredients and shake with ice. Double strain into a chilled cocktail glass and garnish with a strawberry and cucumber wheel.

Like our drink, click here for more.

Have a safe and wonderful weekend, Ya’ll!

 



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