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Apr 17, 2014

The Economist | Weekly Digest - April 17, 2014: Are you ready to deal with a cyber incident?.

The Economist

The Economist
Weekly Digest
Issue #23
This week we examine how prepared companies are to deal with data-related incidents. We also bring you the results of our first ever EIU Flash Poll - we asked executives around the world about the effects of climate change. Finally, join us in London to debate the UK’s energy agenda.
Analysis
The frequency of cyber incidents is on the rise, but hackers are not always to blame Cyber incident response, a new Economist Intelligence Unit report sponsored by Arbor Networks, examines the level of corporate preparedness for data-related incidents and the response plans businesses are putting in place.

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Fraud report2014 CFO Outlook Asia
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report imageTime to start worrying. The implications of an ageing workforce in The Netherlands
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report imageValue-based healthcare: The implications for pharma strategy
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report imageThe challenge of speed: Government in Europe
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View all analysis >>

YouTube | RT has uploaded Putin's annual Q&A session 2014 (FULL VIDEO).



RT has uploaded Putin's annual Q&A session 2014 (FULL VIDEO)
Putin's annual Q&A session 2014 (FULL VIDEO)
RT
Russian President Vladimir Putin is holding his annual televised question and answer session in which he is expected to speak about Crimean integration into Russia and the current crisis in Ukraine. LATEST QUOTES: http://on.rt.com/w70nuc
Follow us on Instagram http://instagram.com/rt
Follow us on Google+ http://plus.google.com/+RT

RT (Russia Today) is a global news network broadcasting from Moscow and Washington studios. RT is the first news channel to break the 1 billion YouTube views benchmark.

YouTube | RT has uploaded Keiser Report: Chained American Dream (E590).



RT has uploaded Keiser Report: Chained American Dream (E590)
Keiser Report: Chained American Dream (E590)
RT
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the American Dream as being chained to the booth in the waffle house as cogs in the wheels generating income for Wall Street sharpies and the poverty of this century in which the beggar is a reminder of nothing. In the second half, Max interviews Alasdair Macleod of Goldmoney.com about the geopolitical situation in Ukraine and its impact on gold and the dollar as the reserve currency. They also talk about the true size of China's gold reserves.

WATCH all Keiser Report shows here:

FTC | Statement - April 17, 2014: Statement of FTC Bureau of Competition Director Deborah Feinstein On Jostens’ Decision to Drop its Proposed Acquisition of American Achievement Corp.

Following today’s announcement by Jostens, Inc. (“Jostens”) that it will drop plans to acquire Acquisition of American Achievement Corp. (“AAC”), the Director of the Federal Trade Commission’s Bureau of Competition, Deborah Feinstein, said:
“The parties’ abandonment of the transaction preserves competition for consumers in the markets for class rings, which are an important memento for millions of high school and college graduates across the country.  A combination of two of the three leading manufacturers would have led to higher prices and lower quality for the students and their parents who purchase these rings.”
Earlier today the FTC voted to seek a preliminary injunction in federal court to stop Jostens, one of the nation’s largest sellers of high school and college class rings, from proceeding with the approximately $500 million proposed acquisition of its close rival, AAC.
The FTC charged that the proposed combination of Jostens and AAC would likely have been anticompetitive and led to higher prices and reduced service for both high school and college students who buy class rings.
The FTC also approved an administrative complaint, alleging that a combined Jostens/AAC would control an unduly high percentage of the high school and college rings markets, making it a dominant firm with only one smaller meaningful competitor in both markets.  Jostens’ acquisition of AAC would have eliminated head-to-head competition between the two companies, allowing the combined firm to raise prices, while reducing the incentives to provide better quality and service to students and make it easier for the two remaining competitors to coordinate, the complaint alleged.
The Commission vote to file both the administrative complaint and federal district court complaint seeking a preliminary injunction was 4-0.
NOTE:  The Commission files a complaint when it has “reason to believe” that the law has been or is being violated and it appears to the Commission that a proceeding is in the public interest. The complaint is not a finding or ruling that the defendant has actually violated the law. The cases will be decided by the court.
The FTC’s Bureau of Competition works with the Bureau of Economics to investigate alleged anticompetitive business practices and, when appropriate, recommends that the Commission take law enforcement action. To inform the Bureau about particular business practices, call 202-326-3300, send an e-mail to antitrust{at}ftc{dot}gov, or write to the Office of Policy and Coordination, Bureau of Competition, Federal Trade Commission, 601 New Jersey Ave., N.W., Room 7117, Washington, DC 20001. To learn more about the Bureau of Competition, read Competition Counts. Like the FTC on Facebook, follow us onTwitter, and subscribe to press releases for the latest FTC news and resources.

Contact Information

MEDIA CONTACT:            
Peter Kaplan,
Office of Public Affairs
202-326-2334
STAFF CONTACT:             
Stelios Xenakis,
Bureau of Competition
202-326-2821
More news from the FTC >>

FTC | Tech@FTC - Technology .Consumers.Innovation. -April 17, 2014-.

Tech@FTC Banner
Save the World 

By Latanya Sweeney
Chief Technologist
April 17, 2014
The Federal Trade Commission (FTC) is launching a new program, Summer Research Fellowships in Technology and Data Governance. Spend your summer exploring ways to design, create, assess, and analyze technology at its intersection with business, society and policy. This 10-week program gives students hands on experience with work relevant to the FTC by assisting the FTC's Chief Technologist and others with real-work exploratory projects of interest to the FTC. Additionally, the FTC seeks to use this program to broaden its ability to understand and respond to current topics in technology.
The mission of the FTC is to prevent business practices that are anti-competitive or deceptive or unfair to consumers; to enhance informed consumer choice and public understanding of the competitive process; and to accomplish this without unduly burdening legitimate business activity.
For more details about FTC's Summer Research Fellowships in Technology and Data Governance, see http://www.ftc.gov/summerfellows.
My next blog post discusses technology governance.

FTC | Enforcement Actions - April 17, 2014: Marketer of Robocalling Services Banned from Telemarketing

The head of an operation that enabled telemarketers to make illegal robocalls, call phone numbers on the National Do Not Call Registry, and mask Caller ID information, is permanently banned from telemarketing and robocalling under a settlement with the federal government.
In November 2011, on the Federal Trade Commission’s behalf, the Department of Justice filed a complaint alleging that Joseph Turpel sold services to telemarketers who were violating the FTC's Telemarketing Sales Rule.  The complaint alleged that Turpel knew, or consciously avoided knowing, that clients used his services while calling numbers on the National Do Not Call Registry, transmitting inaccurate caller ID information, and making illegal prerecorded telemarketing solicitations (robocalls).
According to the complaint, Turpel’s clients offered credit card services, home security systems, and grant procurement programs. He allegedly gave clients the means to hide their identity by transmitting inaccurate caller names, such as “SERVICE MESSAGE” or “SERVICE ANNOUNCEMENT,” on caller ID displays.
In addition to banning Turpel from telemarketing and robocalling, the settlement order imposes a $395,000 civil penalty that is suspended based on his inability to pay. The full penalty will become due immediately if Turpel is found to have misrepresented his financial condition.
The Commission vote authorizing DOJ staff to file the proposed  stipulated final order was 4-0. The final order was entered by the U.S. District Court for the Central District of California on April 15, 2014.
The Federal Trade Commission works for consumers to prevent fraudulent, deceptive, and unfair business practices and to provide information to help spot, stop, and avoid them. To file a complaint in English or Spanish, visit the FTC’s online Complaint Assistant or call 1-877-FTC-HELP (1-877-382-4357). The FTC enters complaints into Consumer Sentinel, a secure, online database available to more than 2,000 civil and criminal law enforcement agencies in the U.S. and abroad. The FTC’s website providesfree information on a variety of consumer topics. Like the FTC on Facebook, follow us on Twitter, andsubscribe to press releases for the latest FTC news and resources.

Contact Information

MEDIA CONTACT: 
Frank Dorman
Office of Public Affairs 
202-326-2674

STAFF CONTACT:
James Davis
FTC’s Midwest Region 
312-960-5611

For Businesses

More news from the FTC >>

DealBook P.M. Edition -April 17, 2014: Officials Zero In on Allegations of Kickbacks in Luxury Car Sales

For the latest updates, go to dealbook.nytimes.com »
THURSDAY, APRIL 17, 2014
TOP STORY
A Range Rover vehicle on display at the Luxury China 2012 exhibition in Beijing.
Officials Zero In on Allegations of Kickbacks in Luxury Car Sales An investigation by New York authorities is part of a broad national crackdown on businesses seeking to turn a quick profit by exporting luxury cars from the United States to China.
For the latest updates, go to dealbook.nytimes.com »
DEALBOOK HIGHLIGHTS
Lloyd C. Blankfein, chairman and chief of Goldman Sachs, in Davos.
Profit and Revenue Drop at Goldman Sachs Goldman Sachs reported on Thursday that first-quarter profit declined to $2.03 billion, reflecting a drop in its fixed-income unit and overall revenue, but its results exceeded expectations.
Harvey Schwartz is the chief financial officer of Goldman Sachs.
Goldman Says It Has No Plans to Exit Dark Pool Business Harvey Schwartz, the chief financial officer of Goldman Sachs, told analysts that he had "no strategic plans" to close the bank's dark pool trading business known as Sigma X.
James P. Gorman, the chairman and chief executive of Morgan Stanley.
Morgan Stanley's Earnings Increase 18% Morgan Stanley's results were driven in part by surprisingly strong performance in the bank's fixed-income division, which trades bonds, derivatives and commodities.
Morgan Stanley had strong earnings performance in several divisions.
Reuters Breakingviews: Morgan Stanley Gets Most Relief From First-Quarter Earnings Morgan Stanley's chief executive, James P. Gorman, presided over a far better start to the year than in 2013, and momentum seems to be building toward increasing the firm's return on equity, writes Antony Currie.
Charles Chao, right, chairman of Weibo, with the singer Wong Lee Hom.
Weibo and Sabre Rise in Market Debut, After Shrinking I.P.O.s The rise in shares in both Weibo, A Chinese microblogging service, and Sabre, a technology services provider, came after they scaled back the sizes of their offerings.
Paul Flowers, formerly a chairman of the Co-operative Bank, was charged this week with possession of cocaine, methamphetamine and ketamine.
Why Sugarcoat? British Conglomerate's Chief Labels 2013 a Disaster Richard Pennycook, the interim chief executive of the Co-operative Group in Britain, said 2013 was "a disastrous year" and that the conglomerate's results "highlight fundamental failings in management and governance."
Laurence Fink, chairman and chief of BlackRock.
BlackRock Profit Rises as It Attracts More Money From Investors The giant asset management firm BlackRock said its profit rose 20 percent to $756 million in the first quarter, as it attracted more money to its mutual fund products.
Bain Capital Raises $7.3 Billion for Buyout Fund The fund, which will focus on investments in North America, attracted $6.5 billion from outside investors, exceeding its target of $6 billion, a person briefed on the matter said.
Stephen Schwarzman, the chairman and chief of the Blackstone Group.
Blackstone Profit Rose 30% in First Quarter The Blackstone Group's results soar as the firm and the industry take advantage of buoyant stock markets to sell their investments and collect performance fees.
Jason N. Ader is the chief investment officer of SpringOwl.
U.S. Activist Investor Turns Eyes Toward EuropeJason N. Ader, the chief investment officer of SpringOwl, is using a proxy battle to bring change to Bwin.Party, the British online gambling company.
LOOKING AHEAD
Good Friday The stock market will be closed to observe Good Friday. There will be no morning or afternoon emails from DealBook.
For the latest updates, go to dealbook.nytimes.com »

WSJ | Most Actives Closing April 17, 2014.

Most Actives Closing
Most Active Stocks by Volume
4:47 pm ET 04/17/2014
NYSE
ISSUEVOLUMEPRICECHG% CHG
Bank of America (BAC)91,165,886$16.150.020.12
General Electric (GE)69,431,01726.560.441.68
Alcoa (AA)33,969,69813.560.141.04
Petroleo Brasileiro ADS (PBR)31,605,18414.010.523.85
Advanced Micro Devices (AMD)27,657,5273.69-0.07-1.86
Pfizer (PFE)26,339,11430.250.160.53
SandRidge Energy (SD)26,181,5576.750.274.17
Rite Aid (RAD)25,807,2967.160.040.56
AT&T (T)25,224,16336.04-0.06-0.17
EMC (EMC)23,395,83326.62-0.08-0.30
Morgan Stanley (MS)22,853,90530.760.872.91
Verizon Communications (VZ)22,184,52147.600.501.06
Citigroup (C)21,271,28248.220.040.08
Hewlett-Packard (HPQ)21,153,99131.93-0.56-1.72
Taiwan Semiconductor Manufacturing ADS (TSM)20,294,30320.720.572.83
Western Union (WU)19,571,36715.25-0.80-4.98
Wells Fargo (WFC)19,248,99648.93-0.16-0.33
Coca-Cola (KO)18,274,14040.720.130.32
JPMorgan Chase (JPM)17,706,12355.22-0.04-0.07
Ford Motor (F)17,467,11916.00-0.07-0.44
RadioShack (RSH)16,954,4281.41-0.28-16.57
Regions Financial (RF)16,726,03010.22-0.12-1.16
Nokia ADS (NOK)16,450,2187.340.040.55
Exxon Mobil (XOM)15,147,324100.420.480.48
J.C. Penney (JCP)14,716,5097.500.243.31
 
Nasdaq
ISSUEVOLUMEPRICECHG% CHG
Facebook Cl A (FB)68,653,382$58.94-0.78-1.31
PowerShares QQQ Trust Series 1 (QQQ)49,801,22286.200.020.02
Cisco Systems (CSCO)47,571,16923.210.180.78
Micron Technology (MU)45,109,33423.911.436.36
Zynga (ZNGA)39,018,0654.290.184.36
Microsoft (MSFT)36,381,24140.01-0.39-0.97
Intel (INTC)35,689,31927.040.110.41
Sirius XM Holdings (SIRI)34,205,5303.14-0.03-0.95
Weibo ADS (WB)32,658,37120.243.2419.06
Yahoo! (YHOO)28,749,75936.380.030.08
Huntington Bancshares (HBAN)27,822,3129.21-0.10-1.07
Sabre (SABR)18,326,22916.500.503.13
Gilead Sciences (GILD)17,390,01270.000.721.04
Fifth Third Bancorp (FITB)16,932,13420.95-0.90-4.12
Groupon (GRPN)16,715,3727.410.314.37
Comcast Cl A (CMCSA)15,062,46249.10-0.07-0.14
21st Century Fox Cl A (FOXA)14,902,24232.520.240.74
NewLead Holdings (NEWL)14,055,3600.250.012.04
Umpqua Holdings (UMPQ)12,958,45318.58-0.27-1.41
Sina (SINA)12,690,82056.553.566.72
SanDisk (SNDK)12,260,16982.997.149.41
Vodafone Group ADS (VOD)11,821,11035.990.340.95
Frontier Communications (FTR)11,369,3895.890.030.51
VelocityShares Daily 2x VIX Short Term ETN (TVIX)10,900,8486.50-0.19-2.84
SLM (SLM)10,729,57125.930.421.65
 
NYSE Arca
ISSUEVOLUMEPRICECHG% CHG
SPDR S&P 500 ETF Trust (SPY)92,913,674$186.390.260.14
iShares MSCI Emerging Markets ETF (EEM)60,008,86342.010.380.91
Select Sector SPDR-Financial (XLF)47,207,63421.860.040.18
iShares Russell 2000 ETF (IWM)47,006,161112.920.560.50
VelocityShares 3x Inverse Natural Gas ETN linked to the S&P GSCI Natural Gas Index Excess Return (DGAZ)31,832,7612.82-0.40-12.42
Barclays Bank iPath S&P 500 VIX Short Term Futures ETN (VXX)30,433,56741.71-0.64-1.51
Market Vectors Russia ETF Trust SBI (RSX)27,038,53323.991.376.06
Direxion Daily Small Cap Bear 3x Shares (TZA)19,727,76716.83-0.26-1.52
iShares MSCI Japan ETF (EWJ)18,844,95411.180.030.27
iShares MSCI Brazil Capped ETF (EWZ)18,098,86747.500.891.91
Select Sector SPDR-Utilities (XLU)17,985,92942.30-0.53-1.24
iShares MSCI EAFE ETF (EFA)17,803,88567.530.350.52
Select Sector SPDR-Energy (XLE)17,577,27792.790.840.91
Market Vectors ETF Trust Market Vectors Gold Miners (GDX)17,232,41123.57-0.23-0.97
iShares U.S. Real Estate ETF (IYR)16,724,74268.71-0.19-0.28
iShares China Large-Cap ETF (FXI)16,572,00335.820.090.25
Select Sector SPDR-Industrial (XLI)12,856,71952.750.410.78
Vanguard FTSE Emerging Markets ETF (VWO)10,108,89641.560.491.19
ProShares UltraShort S&P500 (SDS)8,842,38528.44-0.08-0.27
iShares 20+ Year Treasury Bond ETF (TLT)8,432,714110.05-1.22-1.10
Select Sector SPDR-Health Care (XLV)8,420,78156.89-0.01-0.02
Select Sector SPDR-Technology (XLK)7,876,74636.03-0.05-0.14
Direxion Daily Small Cap Bull 3x Shares (TNA)7,510,69070.691.041.49
SPDR Gold Trust (GLD)5,770,554124.75-0.79-0.63
SPDR S&P Regional Banking ETF (KRE)5,725,10339.850.300.76
 
Composite
ISSUEVOLUMEPRICECHG% CHG
SPDR S&P 500 ETF Trust (SPY)92,913,674$186.390.260.14
Bank of America (BAC)91,138,24316.150.020.12
General Electric (GE)69,405,27626.560.441.68
Facebook Cl A (FB)68,653,38258.94-0.78-1.31
iShares MSCI Emerging Markets ETF (EEM)60,008,86342.010.380.91
PowerShares QQQ Trust Series 1 (QQQ)49,801,22286.200.020.02
Cisco Systems (CSCO)47,571,16923.210.180.78
Select Sector SPDR-Financial (XLF)47,207,63421.860.040.18
iShares Russell 2000 ETF (IWM)47,006,161112.920.560.50
Micron Technology (MU)45,109,33423.911.436.36
Zynga (ZNGA)39,018,0654.290.184.36
Microsoft (MSFT)36,381,24140.01-0.39-0.97
Intel (INTC)35,689,31927.040.110.41
Sirius XM Holdings (SIRI)34,205,5303.14-0.03-0.95
Alcoa (AA)33,969,00613.560.141.04
Weibo ADS (WB)32,658,37120.243.2419.06
VelocityShares 3x Inverse Natural Gas ETN linked to the S&P GSCI Natural Gas Index Excess Return (DGAZ)31,832,7612.82-0.40-12.42
Petroleo Brasileiro ADS (PBR)31,605,18414.010.523.85
Barclays Bank iPath S&P 500 VIX Short Term Futures ETN (VXX)30,433,56741.71-0.64-1.51
Yahoo! (YHOO)28,749,75936.380.030.08
Huntington Bancshares (HBAN)27,822,3129.21-0.10-1.07
Advanced Micro Devices (AMD)27,657,1033.69-0.07-1.86
Market Vectors Russia ETF Trust SBI (RSX)27,038,53323.991.376.06
Pfizer (PFE)26,314,66030.250.160.53
SandRidge Energy (SD)26,181,5576.750.274.17
 
See All Most Actives
 
Footnotes
Includes common, closed end funds, ETFs, ETNs and REITS
x - stock is trading ex-dividend
Source: WSJ Market Data Group