IRS security upgrades fall short amid taxpayer breach concerns
The IRS failed to implement numerous security upgrades that could have hindered hackers from exploiting its site to access tax data of about 104000 taxpayers, according to a government inspector general testifying to Congress. He cautioned the breach's cause remains uncertain but noted full adoption would have made attacks far harder. Toys R Us names Dave Brandon new CEO effective July 1, succeeding Antonio Arcelay. Brandon brings Domino’s and Valassis leadership experience, guiding strategy through IPOs and major corporate moves. Sikorsky Aircraft to cut 1400 jobs next year amid weak demand for international military products and a downturn in offshore oil platform activity, with reductions across Connecticut, Pennsylvania, and Poland.
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IRS
Congress
J. Russell George
Toys R Us
Dave Brandon
Domino’s Pizza
Brandon
Antonio Arcelay
Domino’s
Valassis
Sikorsky
Sikorsky Aircraft
Connecticut
Pennsylvania
Poland
Internet fees top digital entertainment budget in outlook
PricewaterhouseCoopers projects the 2015 2019 outlook shows consumers will spend more than 220 billion dollars on digital entertainment and media with internet service fees taking the largest share. Total media expenditure is seen rising 5 percent to 595 billion, with all segments except newspapers growing.
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PricewaterhouseCoopers
Entertainment & Media
Out Today
Clock ticking for Greek debt crisis
Greece faces looming IMF payments this summer with 59 billion euros due to the IMF and smaller sums in July August. Barclays Capital outlines four possible paths from a final bailout deal to a default scenario, detailing potential political turmoil, market shocks, and euro currency effects.
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Greece
International Monetary Fund
European Central Bank
European Commission
IMF
Alexis Tsipras
Syriza
Diego Iscaro
IHS Global Insight
Barclays Capital
Syrizn
Tsipras
ECB
U.S
Joe Quinlan
U.S. Trust
Google faced pay backlash as ISS urges votes against three directors
ISS urged Google shareholders to withhold votes from the compensation committee over mega grants to executives including Executive Chairman Eric Schmidt and Omid Kordestani. The panel, led by John Doerr Paul Otellini and Kavitark Ram Shiram, faced scrutiny for $223 million in stock grants and a $6 million discretionary bonus with weak performance ties. The Mountain View meeting will decide these governance concerns amid proxy advisory influence.
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New York
Google
Eric Schmidt
ISS
John Doerr
Kleiner, Perkins, Caufield & Byers
Intel
Paul Otellini
Kavitark Ram Shiram
Sherpalo Ventures
Schmidt
Omid Kordestani
Winnie King
Mountain View
Calif
Glass Lewis
JP Morgan
May auto sales surge on momentum and profits
Automakers reported stronger May sales aided by higher consumer confidence lower unemployment and cheaper gas. Autodata tallies show a 1.6 percent year over year gain with a seasonally adjusted pace near 17.8 million units, the briskest since 2005. GM Fiat Chrysler and Ford posted mixed results while individual buyers rose and fleet sales fell. Millennials account for a quarter of May purchases as industry executives forecast continued growth despite earlier slowdown fears.
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Autodata
Kelley Blue Book
Detroit
Fiat Chrysler
Ford
Eric Lyman
TrueCar
Lyman
Fred Diaz
Nissan
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