The daily business briefing: September 23, 2016

1. Hackers access data from 500 million Yahoo accounts

Hackers stole information from at least 500 million Yahoo accounts in 2014, the company said Thursday. The breach appears to be the biggest in history. Yahoo said a state-sponsored actor appeared to have been responsible for the cyberattack. Yahoo recommended that users change their passwords if they haven't done so since 2014. Hackers could have accessed names, email addresses, birthdates, and possibly even security question answers. In August, reports surfaced that a hacker using the name "Peace" was offering Yahoo users' usernames, passwords, and birthdates for sale online.

USA Today CNET

2. Marriott completes its $13 billion acquisition of Starwood

Marriott International on Friday closed its $13 billion acquisition of Starwood Hotels & Resorts Worldwide, becoming the largest hotel chain in the world with more than 5,800 properties in more than 110 countries. The deal brings together Marriott's Courtyard, Fairfield Inn, Ritz Carlton, and other brands with Starwood's Sheraton, Westin, W, and St. Regis hotels. Marriott now has more than 1.1 million rooms, beating out Hilton Worldwide's 773,000 rooms and Intercontinental Hotel Group's 766,000 rooms. That gives Marriott one out of every 15 hotel rooms in the world.

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The Associated Press

3. U.K. to start formal E.U. exit in early 2017

The United Kingdom will start formal talks on its exit from the European Union, known as "Brexit," in early 2017, said Foreign Secretary Boris Johnson on Thursday. The nation voted to leave the EU in a contentious referendum in June, triggering a tremendous political shakeup, including the resignation of Prime Minister David Cameron. Earlier on Thursday, President of the European Parliament Martin Schultz called for the U.K. to leave the EU by early 2019 in order to avoid British voters participating in EU Parliament elections.

AFP The Independent

4. New jobless claims fall to two-month low

The number of Americans making first-time claims of unemployment benefits unexpectedly fell to a two-month low last week. The data marked the latest in a series of indications of solid jobs gains, and provided fresh support for the Federal Reserve's Wednesday decision to hold interest rates where they are for now. "The economy is stronger than we thought with another turn tighter of the screw for the labor market," said Chris Rupkey, chief economist at MUFG Union Bank in New York. "If Fed officials are waiting for the economy to improve further before raising rates, they are just too late."

Reuters

5. Facebook overstates video views to advertisers

Facebook disclosed that it gave advertisers inflated metrics on the time users spent watching videos over two years. Facebook only counts a video as viewed if it is seen for more than three seconds. It left out videos it didn't count as viewed when it calculated average video view times for advertising, resulting in higher marketer spending on one of the social network's most popular ad products. Facebook shares fell by more than 1.5 percent in extended trading after The Wall Street Journal broke the news about the miscalculation.

Bloomberg The Wall Street Journal