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Once Again, Thieves Enter Swift Financial Network and Steal

Bottom Line IT
June 1, 2016 6:00 PM

Thieves have again found their way into what was thought to be a the most secure financial messaging system in the world and stolen money from a bank. The crime appears to be part of a broad online attack on global banking. New details about a second attack involving Swift, the messaging system used by thousands of banks and companies to move money around the world, are emerging as investigators are still trying to solve the $81 million heist form the central bank of Bangladesh in February.

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Reports and Announcements for the Week of May 23, 2016

Week in Review
May 30, 2016 12:00 PM

Sales at U.S. retailers and restaurants grew at the fastest pace in more than a year last month, a sign consumers stepped up spending after a slow start to 2016. Retail sales advanced 1.3% in April from the prior month to a seasonally adjusted $453 billion, the Commerce Department said. It was the best monthly gain since March 2015. Compared with a year earlier, retail sales grew 3%.

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Crooks Go Deep With “Deep Insert” Skimmers

Bottom Line IT
May 28, 2016 10:00 AM

ATM maker NCR Corp. says it is seeing a rapid rise in reports of what it calls “deep insert skimmers,” wafer-thin fraud devices made to be hidden inside of the card acceptance slot on a cash machine. NCR says these deep insert skimming devices, usually made of metal or PCB plastic, are unlikely to be affected by most active anti-skimming jamming solutions, and they are unlikely to be detected by most fraudulent device detection solutions.

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Wall Street Wrap Up May 23, 2016

Week in Review
May 27, 2016 12:09 PM

Energy shares climbed as crude oil prices hit a fresh 2016 high, contributing to a broad rally in US stocks on Monday. The Dow rose 175, the S&P advanced 20 and the Nasdaq added 58.  Stocks on Tuesday essentially erased their gains from the day before after a monthly gauge of inflation showed prices increased last month at the fastest pace in three years.  The Dow fell 181, the S&P dropped 19 and the Nasdaq shed 60.  S. stocks finished little-changed late Wednesday following a bumpy session after minutes from the Federal Reserve’s most recent meeting indicated that “most” of its members are ready to lift rates as early as June.  The Dow lost 3, the S&P was flat and the Nasdaq gained 23. The Dow fell for a third straight session and the S&P erased its gains for the year on Thursday.  The Dow fell 91, the S&P lost 8 and the Nasdaq dropped 27.  U.S. stocks closed higher on Friday as fears of an interest-rate hike ebbed with the S&P and the Nasdaq posting weekly gains, but the Dow extended its losing streak for a fourth week.  The Dow gained 66 to 17,501, the S&P rose 12 to 2,052 and the Nasdaq added 57 to 4,770.

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The Moral and Economic Costs of Inflation

Dollars and Sense
May 23, 2016 2:00 PM

Patrick Heller caught up with Steve Horwitz, Economics Professor at St. Lawrence University in Canton, New York who delivered the second annual Hans and Mary Sennholz Memorial Lecture at James Madison College at Michigan State University. The title of his speech was "The Moral and Economic Costs of Inflation". 

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This Week's Market Perspective

Week in Review
May 20, 2016 12:00 PM

Investors yanked a net $4.6 billion from hedge funds in March, according to eVestment, marking the fifth month out of six where redemptions exceeded allocations. The March figures brought the first quarter outflow to $14.35 billion, a rare stretch of extended rejection for a multi-trillion dollar hedge fund industry accustomed to growth. Pension funds, university endowments and insurers have increasingly put hedge funds on the chopping block after years of uneven performance and scrutiny about their fees. 

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"Women Need Government Like a Fish Needs a Bicycle"

Dollars and Sense
May 13, 2016 3:00 PM

Patrick Heller interviewed Sarah Skwire, Senior Editor at Liberty Fund in Indianapolis and Poetry Editor for The Freeman, a monthly magazine issued by the Foundation for Economic Education. She had just delivered a speech in conjunction with the Hans and Mary Sennholz Memorial Lecture at James Madison College at Michigan State University titled "Women Need Government Like a Fish Needs A Bicycle." 

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Dollars and Sense May 2, 2016

Dollars and Sense
May 13, 2016 2:30 PM

In this episode of Dollars and Sense Patrick Heller talks to Steve Horowitz, Economics Professor at St. Lawrence University and Sarah Skwire, Senior Editor at Liberty Fund They had recently both delivered speeches at the Hans and Mary Sennholz Memorial Lecture at James Madison College at Michigan State University. 

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The Importance Of Injecting Creativity In Planning For Business Growth

Michigan Business Beat
May 12, 2016 2:41 PM

Elatia Abate, Coach for Entrepreneurs and Business Leaders, Founder of Dream Job Designs speaking about  entrepreneurs and business leaders: the importance of injecting creativity in planning for business growth / success.

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Wall Street Wrap-up - Stocks Up, Corporate Profits Decline, Year of Defaults

Week in Review
May 12, 2016 2:00 PM

U.S. stocks finished higher Friday, rebounding after spending much of the session in the red, as investors grappled with the jobs report and its ramifications for Federal Reserve’s monetary policy. The Dow rose 80 to 17,741, the S&P tacked on 7 to 2,057 and the Nasdaq gained 19 to 4,736.

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