RSA clients angry after security breachThe nation's biggest banks and large technology companies like SAP rushed Tuesday to accept RSA Security's offer to replace their ubiquitous SecurID tokens as many computer security experts voiced frustration with the company. The company's admission Monday of the RSA tokens' vulnerability was a shock to many customers because it came so long after a hacking attack on RSA in March and one on Lockheed Martin last month. RSA is a unit of the tech giant EMC. Bank of America, J.P. Morgan Chase, Wells Fargo and Citigroup said they planned to replace the tokens as soon as possible. The banks declined to say how many customers would be affected, although SAP said that most of its 50,000 employees used RSA's tokens and that it was seeking to replace them all.
RSA clients angry after security breach
151,000 fewer job openings in AprilJob openings decreased in April for the first time in three months, showing companies started to lose confidence in the expansion's durability even before hiring slumped in May. The number of positions waiting to be filled fell by 151,000 to 2.97 million, the fewest since January, the Labor Department said.
California insurer to cap profit, refund excessNonprofit insurer Blue Shield of California, criticized in January for requesting a 59 percent premium increase for some customers, said it will cap net income to 2 percent of revenue and refund any excess to policyholders. The San Francisco-based company said it will be returning $167 million this year to policyholders as part of the new program.
HSBC will pay $62.5M to Madoff investorsHSBC agreed Tuesday to pay $62.5 million to settle class-action claims by investors in a fund that had invested with Bernard L. Madoff Securities. HSBC, a defendant in several lawsuits, serviced several funds outside the United States, including the Thema International Fund in Ireland, which invested assets with Madoff's firm. The settlement with the Thema fund investors is "without any admission of wrongdoing or liability," said HSBC, one of Europe's largest banks. In 2009, Madoff pleaded guilty to running a huge Ponzi scheme and is now serving a 150-year prison term.
Sony investigates new hack attacksSony Corp., targeted since April by hacker attacks that have compromised more than 100 million customer accounts, is investigating two new possible intrusions. The company suspended its Brazilian music entertainment website while it looks into a possible breach, it said Tuesday. Sony also is investigating a hacker group's claim that it stole data related to the company's game operation.
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But participants in the annual Investors Roundtable also believe markets will end the year with growth, as President-elect Donald Trump’s policies come into focus and trends like AI continue.
