Target yesterday agreed to pay $18.5 million to 47 states and the District of Columbia for a data breach in November 2013 that allowed hackers to obtain supposedly secure information about millions of its customers, including credit card numbers, expiration dates, CVV codes and encrypted debit PINs.
Patent trolls - entities or individuals who buy up patents with the sole intent of suing someone who invents something similar - were issued travel restrictions yesterday by the Supreme Court that are expected to reduce the amount of nuisance litigation.
Ford CEO Mark Fields will be put to pasture this morning and replaced by former Steelcase CEO Jim Hackett, according to numerous reports. Hackett, 62, has been leading Ford Smart Mobility, the subsidiary that is developing its autonomous capabilities among other endeavors, since March 2016.
After years of floundering while Amazon and other e-commerce innovators ate its lunch, Walmart yesterday reported a 63% spike in online sales for its latest quarter, building out on a 29% improvement in the previous quarter. "We're transforming to become more of a digital enterprise," says CEO Doug McMillon.
Ford Motor Co. yesterday said that it would lay off about 10% of its salaried workforce - a total of about 15,000 white-collar jobs with about 9,600 of them based in the U.S., 1,000 in Mexico, 600 in Canada and 4,141 in the Asia Pacific region. The cuts will include employees working in communications, corporate staffing, finance, government affairs, marketing, purchasing and sales.
Biz Stone, one of the four co-founders of Twitter way back in 2006, is returning to the company "to guide the company culture, that energy, that feeling," as he writes in a post on "Medium," which he also co-founded. "I'm not replacing anyone at Twitter. Somebody mentioned I'm just filling the 'Biz shaped hole' I left. You might even say the job description includes being Biz Stone," he continues.
Brian Duperreault, a protege of deposed American International Group CEO Maurice R. (Hank) Greenberg for 21 years before he embarked on a career of turning around and starting up his own businesses in 1994, is returning to the troubled insurer as president, CEO and a director.
Chief Uber-rival Lyft and Google-parent Alphabet Inc.'s autonomous-driving unit Waymo last night announced that they will be working together to make self-driving technology mainstream, confirming an earlier story yesterday by the New York Times' Mike Isaac.
SoftBank Group has taken a big stake in the virtual future with a very tangible $502 million investment in the five-year-old British VR "gaming" company Improbable Worlds Ltd.
After rumors of talks surfaced from Reuters and in the "Wall Street Journal," Abercrombie & Fitch issued a brief statement last evening to confirm that it is talking with "with several parties regarding a potential transaction with the company." Express and American Eagle Outfitters are said to be among the interested parties.