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Newspaper
Lawrence Journal World
Location
Lawrence, Kansas, United States of America
Date
Oct 02, 2015
Page
11
ConAgra announced a restructuring that will cut about 1,500 office-based jobs, roughly 30 percent, and relocate its headquarters from Omaha to Chicago. The plan aims to save about 200 million dollars plus 100 million in cost efficiencies, with shares closing up to 40.91 dollars.
Apple adds James Bell, longtime Boeing executive and former 2005 CEO, to its board. Bell brings 38 years at Boeing and manufacturing know how as Tim Cook pursues greater diversification across Apple. He praised Apple and its innovation.
After a late year swoon and a global growth scare, Wall Street strategists cut 2015 S&P 500 targets from an average 8.1 percent gain to about 5 percent. Nine of 17 firms lowered targets as the index trades near 1921 amid faded optimism and rapid downgrades by Morgan Stanley Bank of America Canaccord ABC and Goldman Sachs. Tony Dwyer and Jonathan Golub also trimmed their calls from 2340 and 2325 to 2150 and 2100 respectively.
Volkswagen brand U.S. sales rose only 1 percent in September as the scandal over defeat devices dampered demand and consumer trust. Audi gained 16 percent while VW faces a damaged image with 64 percent of owners not trusting the brand. CEO replacement and a corporate shakeup followed.
As the US rolls out EMV chip cards, many cards will not require a PIN. Instead a signature suffices for most credit card transactions, especially small purchases. Banks note chip technology creates a unique code per purchase, reducing fraud, while the US lags behind other nations in adopting PIN verification.
Card holders will learn by mail if their new chip card requires a PIN and may request a PIN option with some banks. Visa began requiring unattended terminals to allow PINless transactions in July, raising consumer caution. Erickson notes, if no PIN is supported the transaction still proceeds. Brewer urges contacting banks before overseas travel to confirm PIN availability.
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