Equifax settlement includes $425 million fund for consumers affected by data breach

Equifax reached a settlement agreement to resolve a nationwide lawsuit filed by the Federal Trade Commission (FTC), the Consumer Financial Protection Bureau (CFPB), and 50 U.S. states and territories. The complaint was related to the 2017 massive data breach that affected approximately 147 million consumers. Details of the settlement agreement Under the settlement agreement, Equifax will pay up to $700 million to resolve the lawsuit as part of the comprehensive settlement with the FTC, CFPB and 50 U.S. states and territories. The settlement includes $425 million fund for consumers affected…

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AbbVie Shares Dive after California Sues Company over Alleged Kickbacks

Abbvie

The shares of AbbVie (NYSE: ABBV) declined almost three percent after the California Department of Insurance (CDI) filed a lawsuit against it. The state regulator alleged the pharmaceutical company gave illegal kickbacks to health care providers for prescribing Humira. Abbvie’s stock price closed at $92.61 per share, down from its opening price of $95.35 per share on Tuesday. Abbvie violated the Insurance Frauds Prevention Act In the lawsuit, Insurance Commissioner Dave Jones accused Abbvie of “systematically and repeatedly violated the Insurance Frauds Prevention Act.” The pharmaceutical company allegedly “engaged in…

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Califonia Gov. Brown Signs Bill Legalizing Side Walk Vending Statewide

Gov. Brown Signs Safe Side Walk Vending Act

California Governor Jerry Brown signed into law a legislation legalizing side walk vending across the state.  Next year, side walk vendors will be able to sell food or other products legally and contribute to the state’s economy. Democratic State Senator Ricardo Lara introduced Senate Bill 946—the Safe Side Walk Vending Act. The newly signed legislation will take effect on January 1, 2019. Under Senate Bill 946, local government cannot prohibit sidewalk vending. It allows municipalities to establish permit programs for side walk vendors and require them to obtain a business…

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California Attorney General Sued Care Home Owners for Human Trafficking, Labor Abuses

California Attorney General Sued Care Home Owner Human Trafficking Labor Abue

California Attorney General Xavier Becerra sued the owners of two care homes and a child day care facility in the Bay Area for human trafficking, labor abuse, rape, and other criminal activities. The defendants identified as Gerlen, Noel, Joshua, and Carlina Gamos own and operate Rainbow Bright, an adult residential and child care company. They committed the crimes while operating their facilities in Daly City, Pacifica, and South San Francisco. While serving arrest warrants, authorities sequestered 14 illegal assault weapons including three “ghost guns” without serial numbers from the defendants.…

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Democrats Likely to Gain Seat in Senate; Arizona Voters Prefer Democrat Kyrsten Sinema over GOP Candidates

Kyrsten Sinema

Registered voters in Arizona prefer Democratic Representative Kyrsten Sinema over Republican candidates for the U.S. Senate. On Tuesday, the latest NBC News-Marist poll in Arizona showed that Sinema has double-digit leads against her three Republican contenders. Sinema is ahead by 10% against Dr. Kelli Ward, a former member of the Arizona State Senate. Forty-eight percent (48%) of registered voters support Sinema while 38% prefer Ward. The survey also showed that Sinema has 11% lead over Rep. Martha McSally. Forty-nine percent (49%) of regstered voters favor the Democrat compared to 38%…

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California Primary: Schwarzenegger Will Not Vote for Republican John Cox

Arnold Schwarzenegger

Arnold Schwarzenegger, the movie actor and former California Governor is encouraging Californians to exercise their rights to vote. The state is conducting its primary election today. In a tweet, Schwarzenegger said, “Californians, whether you are to the left of me, to the right of me, or in the center, get out and vote. This is your day to flex your power.” Californians, whether you are to the left of me, to the right of me, or in the center, get out and vote. This is your day to flex your…

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Amazon to build 2nd headquarters with up to 50,000 workers

Amazon Fulfillment Center

Amazon announced its plan to build a second headquarters in North America that will be equivalent to its current campus in Seattle, Washington. The e-commerce giant will invest more than $5 billion for the construction and growth of its HQ2, which is expected to add as much as 50,000 high-paying jobs. Amazon also expected its HQ2 to create tens of thousands of additional jobs and tens of billions of dollars in additional investments in communities that surround it. The company estimated that its additional investments in Seattle from 2010 to…

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Tesla Motors (TSLA) Q3 Earnings Top Estimates, Shares Soar

The stock price of Tesla Motors (NASDAQ: TSLA) surged during the extended trading hours after the electric car manufacturer reported third-quarter financial results that beat the estimates of Wall Street analysts. TSLA stock climbed more than 4% to $211.10 per share during the extended trading on Wednesday. Tesla Q3 financial results Tesla reported that its adjusted earnings were $111 million or $0.71 per share for the third quarter, higher than the $0.54 per share expected by analysts. The company’s total GAAP revenue was $2.3 billion, an increase of 152% from…

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Half Billion Yahoo Users’ Accounts Hacked

Yahoo

Yahoo confirmed that at least half billion of its users’ accounts were hacked by a state-sponsored hacker, who perpetrated a cyber attack on its network in late 2014. According to the company the hacker stole a copy of certain user information that may have included users’ names, birthdates, e-mail addresses, and hashed passwords. The hacker may also have taken encrypted or unencrypted security questions and answers in some cases. Yahoo’s ongoing investigation indicated that the hacker failed to access unprotected passwords, bank account information or payment data during the data…

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