Report: Target says vendor breach led to data theft
Minneapolis – Target reportedly said a data breach at an unidentified vendor led to hackers obtaining phony credentials that allowed them to gain access to Target’s systems and steal the information for 40 million credit and debit cards, as well as the personal data of about 70 million consumers. According to the Associated Press, Target did not offer any specific details on who the vendor was or how hackers obtained the credentials.
A Target spokesperson did say the retailer has taken steps to help make data breaches more difficult in the future, such as restricting or updating outside access to some of its platforms.
NRF: Minimum wage hike would bring ‘minimum opportunities’
Washington, D.C. — President Obama in his State of the Union address last night said he plans to sign an executive order increasing the federal minimum wage from $7.25 to $10.10 per hour for workers on new government contracts and asked Congress to approve the same increase for all workers — and the National Retail Federation is not happy.
NRF president and CEO Matthew Shay issued a response ahead of the president’s address.
“If you want to create minimum opportunities, then raise the minimum wage. We welcome the president’s focus on the economy and jobs, but a minimum wage hike runs counter to that goal. Raising the minimum wage would place a new burden on employers at a time when national policy should be focused on removing barriers to job creation, not creating new regulations or mandates. It’s simple math — if the cost of hiring goes up, hiring goes down.”
According to Shay, fewer than 5% of hourly workers are paid the minimum wage. The NRF believes that it’s really a starting wage allowing teenagers or others with little job experience to enter the workforce.
“A mandated hike in labor costs would negatively impact businesses that employ people in entry-level jobs and ultimately hurt the people it is intended to help. This isn’t economic theory — when the minimum wage went up in 2009, half a million part-time workers lost their jobs. That’s a risk our economy can’t afford to take,” Shay added.
U.S. attorney general confirms probe of Target breach
New York — Testifying Wednesday before the Senate Judiciary Committee, U.S. Attorney General Eric Holder confirmed that the Justice Department is investigating the consumer data breach at Target Corp.
"While we generally do not discuss specific matters under investigation, I can confirm the Department is investigating the breach involving the U.S. retailer, Target," Holder said in his statement to senators,.”
Holder said the department is committed not only to finding the perpetrators of these sorts of data breaches, but also “any individuals and groups who exploit that data via credit card fraud.”