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Stock Market & Financial Investment News

News Breaks
March 27, 2014
06:13 EDTTGT, VTarget and Visa say fraud limited following data breach, WSJ reports
Target (TGT) and Visa (V) said fraud has been limited following the the massive data breach over the holidays, reports the Wall Street Journal. Speaking at a Senate Commerce Committee hearing, Target CFO John Mulligan said there has been $2M in fraud on the Visa credit cards it issued and none on the store-issued debit cards. Visa said the breach that has been used for fraud is much lower than the 2%-5% rate the card issuer normally sees in comparable circumstances. Reference Link
News For TGT;V From The Last 14 Days
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September 30, 2014
10:01 EDTVBank of America begins rollout of chip debit cards
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September 24, 2014
11:19 EDTVVisa creates 2K technologists positions, new India technology center
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September 22, 2014
07:14 EDTVGSM Association to hold a conference
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September 18, 2014
11:01 EDTTGTTarget to hire 70,000 seasonal workers in 2014, CNBC reports
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05:31 EDTVVisa to undertake assessment of stake in Monitise
Visa (V) and Monitise entered into an alliance agreement in 2009. At the same time, Visa began investing in Monitise. Given the maturation of Monitise as a company, Visa is considering its options with respect to the investment and has engaged J.P. Morgan Securities (JPM) to assist. Visa will also be lessening its dependence on external mobile development resources. In 2009, in conjunction with its commercial partnership, Visa invested in Monitise as a 14.4% owner of the company in order to provide capital support to a leader in the evolution of the mobile payments sector. Over time, Visa’s holdings have been reduced to its current 5.5% stake in the company. This reduction in ownership and associated influence is consistent with Visa’s investment practice to seed emerging players and, over time, taper that influence as the partner company grows. Under their agreement, Monitise will provide Visa with mobile platform development services through 2016. As both Visa and the payments industry evolve at a rapid pace, Visa intends to continue increasing its investment in its own in-house capabilities and, as a result, reducing its use of external resources.

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