Wednesday, September 27, 2017

Equifax CEO and chairman Richard Smith has suddenly retired

This comes in the wake of a data breach that impacted as many as 143 million customers and sparked multiple probes at the state and federal level. Board member Mark Feidler will serve as non-executive chairman, while Equifax APAC chief Paulino do Rego Barros, Jr. will take over as interim CEO. Three other executives, including the credit reporting company’s chief financial officer, are under scrutiny for selling $1.8 billion of company stock days after the breach was discovered internally but weeks before it was announced to the public. Equifax’s chief security officer and chief information officer stepped down September 14. (CNBC)

 

Target is raising its minimum hourly wage to $11 next month and to $15 by 2020

October’s dollar increase will affect thousands of the Minneapolis-based retailer’s 323,000 employees, as well as the 100,000 workers it plans to hire for the holiday season. Target’s decision comes just a few months after the Minneapolis City Council voted for a measure requiring large corporations to pay at least $15 an hour by 2022. Target’s new $11 hourly rate is higher than the minimum wage in 48 states and also beats rival Walmart’s $10 minimum. The two retailers have traded wage increases over recent years. (NY Times)

 

Retailers are in for a treat this Halloween

According to the National Retail Federation, spending on the spooky holiday will likely hit a record $9.1 billion this year, up from $8.4 billion in 2016. A record 48% of adults plan to dress up, and some 179 million consumers are expected to shell out cash (not candy corn) for the occasion. Americans will spend some $3.5 billion on costumes, $2.7 billion each for candy and decorations, and $400 million on holiday greeting cards. (National Retail Federation)

 

WhatsApp has been blocked in China

The Facebook-owned messaging service has faced disruptions for the past few months, with users unable to send photos or hold video chats; now text messages appear to be blocked as well. WhatsApp joins Facebook, Instagram, Twitter, Google, and other services that are blocked in the country. (New York Times)

 

80% Of Americans Living Paycheck To Paycheck

According to a new survey, the majority of Americans are caught in a desperate cycle of working just to make ends meet. Researchers say nearly four in five — 78% — U.S. workers are living paycheck to paycheck. (CBS Los Angeles TV)

 

Chopper ride over Puerto Rico shows ‘unprecedented disaster’ after Maria

Puerto Rico is struggling to pick up the pieces after Hurricane Maria hit last week as a Category 4 storm. Power, cell service, and drinking water are in short supply. One of the island’s dams is on the verge of collapse. Farms have been badly damaged, meaning Puerto Rico will have to rely even more on imports than it already does. All this will make the island’s already crippling debt crisis even worse. The other day (9/25), Puerto Rico’s governor urged the US government to approve more aid. (ABC News)

 

Humpin’ Along on this Wednesday because it’s:

*Ancestor Appreciation Day 
*Banned Websites Awareness Day (Last Wednesday)
*Crush A Can Day 
*Gay Men’s HIV/AIDS Awareness Day 
*Google’s Birthday 
*National Women’s Health & Fitness Day (Last Wednesday)
*National Woman Road Warrior Day 
*World Tourism Day 

 

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