Target breach costs banks millions
Financial institutions’ expenses related to Target’s holiday data breach now exceed $200 million. Almost 22 million of the 40 million credit and debit cards compromised in the breach have been replaced, an effort that trade groups say has cost banks $172 million and credit unions another $30.6 million.
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Better returns with index funds
Almost 80 percent of actively managed funds fail to deliver better returns than simple index funds. An investor putting $3,000 a year for 40 years into a managed 401(k) fund with annual fees of 1.33 percent will have almost $160,000 less at age 65 than one getting equivalent returns on a low-cost index fund charging 0.08 percent.
TheAtlantic.com
Signet to buy Zale Corp.
Signet Jewelers, which operates stores in the U.S. and the U.K. under the brands Kay, Jared, H. Samuel, and Ernest Jones, said this week it plans to buy rival Zale Corp. and assume its debt for a total of $1.4 billion.
USA Today
China's risk to the global economy
Forty-six percent of portfolio managers say China’s slowing economy is the biggest risk to the global economy, according to a survey of 222 fund managers by Bank of America Merrill Lynch. That’s up from 37 percent in January and 26 percent in December.
WSJ.com
Expats renounce citizenship
Three thousand Americans turned in their passports last year, most of them expats renouncing their citizenship to avoid complicated tax filings. Experts blame new regulations—such as the Foreign Account Tax Compliance Act—which require Americans to report foreign assets over $50,000 and foreign bank holdings that exceed $10,000.
CNN.com
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Israel: Losing the American publicFeature A recent poll finds American support for Israel's military action in Gaza has fallen from 50% to 32%
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Unmaking AmericansFeature Trump is threatening to revoke the citizenship of foreign-born Americans. Could he do that?
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EPA: A bonfire of climate change regulationsFeature The Environmental Protection Agency wants to roll back its 'endangerment finding,' a ruling that lets the agency regulate carbon emissions
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The news at a glance...Internationalfeature International
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The bottom line
feature Youthful startup founders; High salaries for anesthesiologists; The myth of too much homework; More mothers stay a home; Audiences are down, but box office revenue rises
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The week at a glance...Americas
feature Americas
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The news at a glance...United States
feature United States
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The news at a glance
feature Comcast defends planned TWC merger; Toyota recalls 6.39 million vehicles; Takeda faces $6 billion in damages; American updates loyalty program; Regulators hike leverage ratio
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The bottom line
feature The rising cost of graduate degrees; NSA surveillance affects tech profits; A glass ceiling for female chefs?; Bonding to a brand name; Generous Wall Street bonuses
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The news at a glance
feature GM chief faces Congress; FBI targets high-frequency trading; Yellen confirms continued low rates; BofA settles mortgage claims for $9.3B; Apple and Samsung duke it out
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The week at a glance...International
feature International