Las Vegas paper names interim editor
The Las Vegas Review-Journal has named an interim editor following weeks of uncertainty since its scrutinized sale to billionaire casino-mogul Sheldon Adelson. The largest newspaper in Nevada reported Wednesday that its senior editorial writer Glenn Cook will serve as the top news editor until a new chief is hired. Cook said he's not seeking the permanent job. The announcement came from the publisher, Jason Taylor, who said the permanent job should be filled in the next two months. Cook is standing in for Mike Hengel, who took a buyout in December after the $140 million sale was announced but before the new owner was discovered by the paper's own reporters. The paper's second sale of the year drew scrutiny from journalists, politicians and media-watchers who demanded transparency.
Weekly applications for jobless aid drop
Fewer people sought U.S. unemployment benefits last week, suggesting that the job market remains healthy and insulated from the turmoil abroad in Europe and China. Applications for jobless aid fell 10,000 to a seasonally adjusted 277,000, the Labor Department said Thursday. The less volatile four-week average dipped 1,250 to 275,750. Over the past 12 months, the number of people receiving benefits has fallen 8.3 percent to 2.2 million. U.S. employers appear to be secure, even as the Chinese stock market is collapsing, oil prices are plunging and Europe continues to slowly nurse its way back to financial health. The relatively low level of applications for unemployment aid indicates that job growth should be healthy in the December jobs report being released by the government Friday.
Data breach at Time Warner Cable
Time Warner Cable said the e-mail addresses and passwords of about 320,000 of its customers nationwide may have been stolen by hackers. The company said it was told by the FBI about the possible compromise and has yet to determine how the information was stolen. But the company said there's no evidence of a breach of the Time Warner Cable systems that operate customer e-mail accounts. The New York-based company said it's likely that the e-mails and passwords were previously stolen either through malware downloaded during phishing attacks, or indirectly through data breaches of other companies that stored customer information. Time Warner Cable company is contacting customers who might be affected and asking them to change their e-mail passwords as a precaution.
Shkreli used $45M account to secure bail
Martin Shkreli put up his $45 million E-Trade account to secure $5 million bail after federal authorities arrested him on fraud charges last month, prosecutors said. The youthful founder of hedge funds and pharmaceutical companies attracted national attention in September for increasing the price of a lifesaving drug more than 5,000 percent. Prosecutors said he lied to investors and used money from a company he ran to cover losses at his funds. He pleaded not guilty and was released on bond. A filing Thursday by prosecutors in Brooklyn, N.Y., federal court offered some of the clearest evidence to date of the funds Shkreli has at his disposal. Under the terms of the security arrangement, he can't sell or transfer any of the assets in the account, according to the filing. A lawyer for Shkreli, Marcus Asner, had no immediate comment on the document.
Report: Yahoo planning major layoffs
Yahoo is planning to cut at least 10 percent of its workforce as part of a reorganization aimed at stemming the turmoil at the Internet company, a report said. More than 1,000 employees could be let go as early as this month, sources told Business Insider. The cuts would be companywide, but Yahoo's media business, European operations and platform technology group could take the brunt of the layoffs, the report said. Yahoo declined to comment. The news came a day after hedge fund investor and Yahoo shareholder Starboard called for a shake-up in Yahoo management, including a replacement for embattled Chief Executive Marissa Mayer.