| 'We were expecting the worst'
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| In an incredible tale of survival, three men have beaten the odds and survived a horror helicopter crash off the coast of New Zealand.
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| The Chipotle Hack And The Troubling Trend Of Credential Stuffing
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 The news out of Chipotle feels a bit like déjà vu, as it's a story we've all heard before. Reports have appeared all over social media, particularly via Reddit and Twitter, about Chipotle user accounts being pirated, with hundreds of dollars' worth of food ordered to customer cards that those customers never saw. In many cases, according to reports, the delivery addresses on the fraudulent orders were to states different from the home addresses on the accounts. There is a bit of a twist in this often-told tale of breached consumer data: Chipotle maintains that the company itself has not been breached. Consumers often repeat passwords across sites, the firm noted, and fraudsters use a technique known as credential stuffing — wherein they've taken email addresses and passwords gleaned in other attacks, and used them to brute force their way into customers' Chipotle accounts. Chipotle customers, incidentally, beg to differ, with many swearing that their Chipotle passwords were used solely on that site, and ...
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| Funding Could Bring The RealReal To $1B Valuation
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 The RealReal, an online retailer for authenticated luxury consignment, has authorized the sale of up to $70 million in new shares that could put its valuation at $1.06 billion. A Delaware stock authorization filing was discovered by the Prime Unicorn Index. However, there is no guarantee that The RealReal will sell the full amount of shares, and the company declined to comment. Led by Founder and CEO Julie Wainwright, the RealReal has raised a total of $288 million in funding from venture capital and private equity backers, including Great Hill Partners, Sandbridge Capital, PWP Growth Equity, Industry Ventures, Greycroft and Canaan. In July, the company, which was founded in 2011, raised $115 million in funding, led by Perella Weinberg Partners, with participation from Sandbridge Capital and Great Hill Partners. "Over the last seven years, we have re-envisioned the experience of buying and selling luxury goods, and become a leader in the circular economy for luxury goods," Wainwright said at the time. ...
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| Hecklers Taunt Wells CEO During Annual Meeting
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 Wells Fargo's interim CEO faced critics at the company's annual meeting in Dallas. C. Allen Parker was interrupted more than a dozen times during his opening remarks, with hecklers shouting "frauds" and "criminals" as he tried to speak. "Wells Fargo, you cannot be trusted," one person yelled, according to Bloomberg. "One of the wonderful things about shareholder democracy in this country is that we have meetings like this," Parker said. However, as hecklers voiced their displeasure with the bank's lenders, investors showed their support by approving Chair Betsy Duke and the rest of Wells Fargo's board, with an approval of at least 95 percent support — the highest rate since 2016. In the meantime, Parker is temporarily leading the San Francisco-based company after former CEO Tim Sloan stepped down, following the firm's many scandals. The search for a permanent replacement is still underway, and the company said it won't give additional updates until a final decision has been made. The meeting served as a ...
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| SoftBank Mulls Stake In Wirecard
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 SoftBank is considering investing in German financial company Wirecard, according to Bloomberg. The Japanese company could get as much as a 5 percent stake in Wirecard, and American depositary receipts reacted positively to the news. SoftBank has added financial advisors, and is putting together a deal to get bonds that can be changed into Wirecard shares. If the deal goes through, it could be announced as early as this month. An injection of capital by SoftBank could help to restore confidence in Wirecard after a series of reports alleging financial malfeasance. Wirecard's market cap was cut 25 percent, or about $17 billion, following the news. Wirecard denied that it committed any of the alleged accusations, and said an internal investigation by a law firm proved that it was innocent. The accusations centered around an accounting exec in the Singapore office, but Wirecard said that individual left the company. German financial regulator BaFin banned Wirecard from trading for two months, and only lifted ...
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| CFPB Updates Policy For Civil Investigative Demands
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 The Consumer Financial Protection Bureau (CFPB) has announced changes to policies on Civil Investigative Demands (CIDs), which are investigational subpoenas issued by the CFPB. The Consumer Financial Protection Act of 2010 authorizes the CFPB to issue CIDs when looking into potential violations of the law. As a result of the policy changes, CIDs will now provide more information about the laws that might have been violated, as well as specify the activities subject to the CFPB's authority. When the extent of the CFPB's authority is one of the main reasons for the investigation, staff will be able to include that issue in the CID for further transparency. "The new policy takes into account recent court decisions about notifications of purpose, and is consistent with a 2017 report by the Bureau's Office of Inspector General that emphasized the importance of updating Office of Enforcement policies to reflect such developments," the CFPB explained in a press release. "The new policy is also consistent with ...
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, all countries ( USA, Great Britain, India, Australia, New Zealand ) (sources)
