Home' Trinidad and Tobago Guardian : August 20th 2015 Contents A30
Guardian www.guardian.co.tt Thursday, August 20, 2015
PRE & PRIMARY TEACHERS
NOTICE OF THE 17TH
ANNUAL GENERAL MEETING
Notice is hereby given that the
SEVENTEENTH (17TH) ANNUAL
LIVING WORD CREDIT UNION
CO-OPERATIVE SOCIETY LIMITED
will be held on
Sunday 23rd August 2015
at 12.00 noon
on the compound of the
Living Word Christian Centre,
53B Circular Road,
To receive the Reports of the various
committees and Statements of Accounts
for the Year ended 31st December 2014.
NEW YORK---Target has reached a deal
to pay up to US$67 million to settle Visa
claims related to a massive 2013 data
breach that resulted in the theft of millions
of debit and credit card numbers.
Both Target Corp. and Visa Inc confirmed
the agreement, but wouldn t put a dollar
amount on the deal. A person familiar with
the situation said the agreement is worth
up to about US$67 million in pre-tax pay-
ments to Visa and the financial institutions
that issued the potentially affected cards.
The breach of Target s computer systems
compromised 40 million credit and debit
card accounts. The hackers also stole the
personal information, including names and
addresses, of as many as 70 million people,
putting them at risk of identity theft.
Unlike a US$19 million agreement
between Target and MasterCard Inc. that
fell apart in May, this deal isn t in danger
of failing due to a lack of support from
affected banks and credit unions.
The Minneapolis retailer said the issuers
of a majority of the cards that were com-
promised in the breach have entered into
direct settlements with Target and Visa,
giving the two companies the green light
to make a larger deal.
Charles Zimmerman, a lawyer for a group
of banks that are suing Target over breach-
related losses, called the settlement another
attempt by the retailer to avoid fully reim-
bursing card issuers. His group is asking
for class-action status and has a hearing
scheduled for September 10.
Target disclosed the breach on December
19, 2013, the peak of the holiday shopping
season. Shoppers, fearing for the security
of their private data, avoided Target stores.
The fallout negatively affected sales for
The breach was a major factor behind
the abrupt departure of its CEO Gregg
Steinhafel last year. (AP)
Target to settle breach claims with Visa
BEIJING---China s volatile stock market is
taking shareholders on a white-knuckle ride,
threatening to drive out the small investors
Beijing hopes will help pay for reforms of
After falling 6.1 per cent on Tuesday, the
market benchmark declined another 5 per
cent yesterday before rebounding in the final
minutes of trading to close up 1.2 per cent.
Beijing s multibillion-dollar intervention
over the past month helped to stop a stock
market slide that knocked down the Shanghai
Composite Index by 30 per cent from its June
12 peak. But the state-owned company charged
with buying stocks to prop up prices by buying
shares has said it will avoid taking action
every day, which could allow wide swings in
a market filled with rumors and anxiety.
Some individual stocks have fluctuated by
much bigger margins than the overall market,
stinging small investors.
Yesterday, the Shanghai index closed up 8
per cent from its July 8 low but still was 26
per cent below its June 12 peak.
The reasons for yesterday s surprise rebound
were unclear, but analyst Bernard Aw of IG
Markets suggested that state-owned China
Securities Finance Corp, a pillar of the price-
support effort, might have stepped in to buy
"Did the plunge protection team bail out
the stocks again? Probably," Aw said in a
report. "This should not come as a surprise,
given the government s commitment to sta-
bilizing Chinese equities."
Analysts warned earlier that even if the
price supports worked, markets would face
aftershocks in the form of occasional bouts
of volatility in coming weeks.
The wild price swings threaten to disrupt
the party s plans to use China s stock markets
to raise billions of dollars for state companies
to pay off debts and modernise. (AP)
China's stock volatility
Links Archive August 19th 2015 August 21st 2015 Navigation Previous Page Next Page