Money Minute: Target IDs Cyberthieves; Advertisers Like Facebook Ads

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Target now thinks it knows how hackers broke into its system.

Target (TGT) says hackers used stolen credentials from an unidentified vendor to invade the software program that controls its payment system. The hackers stole the credit and debit card information of 40 million customers. Separately, the Justice Department has begun a criminal investigation into the cyber break-in.

There have been several reports lately that teens are turning off to Facebook, but advertisers are still "friending" the company. Its net soared eightfold from a year ago, as revenue jumped. Mobile ads now account for more than half of Facebook's revenue. Facebook (FB) shares have jumped 74 percent over the past year, and are set to add to those gains today.

Google is getting out of the business of making smartphones. Just three years after acquiring Motorola Mobility, Google (GOOG) is selling the handset business to Lenovo of China for nearly $3 billion. But Google will retain most of the patents that are connected to its Android software. Google has already sold off other part of Motorola, but it won't recoup most of the $12.5 billion it paid in 2011.

The Dow Jones industrial average (^DJI) tumbled 189 points Wednesday,
the Standard & Poor's 500 index (^GPSC) lost 18 and the Nasdaq composite (^IXIC) slid 46 points. There's concern the S&P has broken below a key technical level that could lead to more selling.

Can the Big Mac co-exist with a veggie burger? The Wall Street Journal says more than 80,000 people have signed a petition for McDonald's (MCD) to add a veggie burger to the menu. But McDonald's veggie burger experiment a decade ago was a flop.

Many of the young analysts and associates on Wall Street are highly paid, but they work unbelievably long hours that can take a heavy physical and mental toll. Well, Citibank (C) is trying to improve working conditions, telling these young employees to take off at least 36 straight hours on the weekend and to use all of their vacation days.

-Produced by Drew Trachtenberg.


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eeverettm

Obama says he will surpass congress to do what he wants. Duh, he's been doing that for the past 5 years. He loves being a puffed up dictator who enjoy all the perks.

January 30 2014 at 3:59 PM Report abuse +1 rate up rate down Reply
betty_brock

Obama says he wants to run the U.S. by himself. What happened to checks and balances?

January 30 2014 at 3:36 PM Report abuse +2 rate up rate down Reply
alfredschrader

Seems like suicide shootings in public places is the trend. Many are blaiming guns. It's not the guns. Americans have always had guns from day one. What it is, is we have taken God out of everything. The devil has come in to take his place where ever this was done.
We need to put God back into it all or it's just going to get worse. May God bless you.

January 30 2014 at 11:07 AM Report abuse +1 rate up rate down Reply
1 reply to alfredschrader's comment
betty_brock

Amen

January 30 2014 at 3:36 PM Report abuse +2 rate up rate down Reply
1 reply to betty_brock's comment
bjay0421

Amen #2

January 30 2014 at 4:13 PM Report abuse +2 rate up rate down