Uber acknowledged on Tuesday it covered up a year-old hacking attack that compromised the personal information of more than 57 million riders and drivers. So far there is no evidence that the data was misused, according to ride-hailing service’s CEO, Dara Khosrowshahi, in a posting on Uber’s website. The hackers took the names, email addresses, and mobile phone numbers of riders and drivers from around the world, and the driver’s license numbers of at least 600,000 U.S. drivers.
President Donald Trump is expected to name Federal Reserve board member Jerome Powell to succeed Chairwoman Janet Yellen when her term expires in 2018. Powell, 64, has supported Yellen’s cautious approach to raising interest rates. He spent years working at investment firms, but unlike the past three Fed leaders doesn’t have a doctorate degree in economics. Investment strategist Mona Mahajan of Allianz Global Investors said Powell, like Trump, might be more inclined than Yellen to relax some of the stricter regulations that were imposed on banks after the 2008 financial crisis.
Richard Thaler of the University of Chicago won the Nobel Prize in economics Monday for research showing people’s financial choices often don’t follow rational economic theory. His work brought greater understanding of the psychology of economics, Swedish Academy of Sciences Secretary-General Goran Hansson said.
Business | About 1.4 million people signed a pledge to boycott Target stores over the company’s transgender bathroom and fitting room policy. Target’s same-store sales during the same quarter were down for the first time in two years.
