Want Beyoncé tickets? Wait till the last minute

Beyoncé and Jay-Z will be kicking off their tour at Sun Life Stadium in Miami in June. Last year, she played smaller arenas.

NEW YORK (CNNMoney)

The reason: Unlike last year, some of the hottest concerts -- Beyoncé, Rihanna, and One Direction -- are all playing at big stadiums.

Larger venues mean more tickets.

"As we get closer to the shows, ticket brokers who hold big blocks of seats will start to release their inventory, and there will be plenty of inventory this year," said Chris Matcovich, who runs data and communications for ticket search engine TiqIQ.

Matcovich says chances are, people will be able to get tickets the day before and even on the day of the event, especially if they don't care where they sit. However, he advises discerning concert goers who want choice seats not to wait till the day before. To be on the safe side, they should buy tickets a week or two before the performance.

Related: Apple buying Beats for $3 billion

Usually, when concert tickets are first released, only a few lucky fans are able to snag seats through Ticketmaster or parent Live Nation (LYV, Fortune 500). The rest are left to find tickets that are resold via StubHub, TicketNetwork, SeatGeek, or even eBay.

That's because ticket brokers, credit card companies, venue owners, and even fan clubs tend to snatch up large blocks of tickets as soon as they are sold. While brokers hope to sell at higher prices, companies use them as a special currency for VIP's.

But this year, they might end up holding on to more seats than they can fill until it's too late.

And that usually leads to last-minute discounts.

Consider this: The British boy band One Direction, a rage among American tweens and teenagers, will be playing this summer at 70,000- to 80,000-seat football fields. Last year, they played at 20,000-seat arenas.

The same holds true for Beyoncé and Jay-Z, who'll be kicking off their tour at Sun Life Stadium in Miami in June. Last year, the Queen B played smaller arenas.

Tickets are already selling at lower prices this year, according to TiqIQ.

In 2013, the average price of a One Direction ticket was selling for $433. This year, it's selling for $236, according to TiqIQ.

Similarly, tickets for Beyoncé's show last year cost $399. This year they're selling around $274.

And if Matcovich is right, chances are they could go even lower.

First Published: May 30, 2014: 3:03 PM ET

21.29 | 0 komentar | Read More

Hot stocks: 5 sizzling performers in May

NEW YORK (CNNMoney)

While there were many winners this month (sorry Whole Foods (WFM, Fortune 500) -- you definitely didn't make the cut), check out the rankings of the five hottest companies in the S&P 500 in May.

1. Netflix: Binge watching is the new black

Netflix (NFLX) was hammered by the risk aversion on Wall Street in recent months. The streaming movie rental service saw its shares slump 26% in March and April.

But investors quickly realized that lovers of "Breaking Bad" and "House of Cards" aren't abandoning Netflix any time soon. Shares spiked 30% in May, making it easily the best performer in both the S&P 500 and Nasdaq 100.

Netflix also announced a price increase for new members and plans to expand services to six more European countries: France, Germany, Austria, Switzerland, Belgium and Luxembourg.

Related: CNNMoney's Tech 30 Index

2. Electronic Arts: The World Cup effect?

The second hottest S&P 500 stock this month can trace its sparkling performance to a single day: May 6.

That was the day Electronic Arts (EA) blew Wall Street's socks off with earnings that crushed expectations. Buoyed by sales of games for PlayStation 4 and Xbox One, the video game maker also sounded a very positive tone for the rest of the year and unleashed a $750 million stock buyback.

The company, known as EA, also highlighted how strong its sports titles are, especially the blockbuster FIFA game ahead of this summer's World Cup. EA is one of the few non-apparel companies to serve as a major sponsor of top soccer stars.

Other video game makers have also enjoyed success this year, including France's Ubisoft (UBSFF), Activision Blizzard (ATVI) and Take-Two Interactive (TTWO).

After EA's 23% surge in May, the company has spiked 52% so far this year, good for No. 3 in the S&P 500 in 2014.

Related: Three tech stocks worth buying

3. Green Mountain juiced by Coke (again)

It's been a wild ride this year for investors of the company formerly known as Green Mountain Coffee Roasters.

Keurig Green Mountain (GMCR) spiked 36% in February after Coca-Cola (KO, Fortune 500) acquired a 10% stake in the company for $1.25 billion. But the coffee maker slumped 11% in April and continued to face skepticism from short sellers like hedge fund giant David Einhorn.

Coke came to the rescue once again, announcing plans on May 13 to boost its stake to 16%, adding more than $1 billion more. Green Mountain also impressed Wall Street wtih a 22% jump in profits.

The final result for Green Mountain is a heavily caffeinated 21% return for the month.

4. TripAdvisor charts an upward course

The online travel site finished April a hefty 26% below its all-time high, which was just the month before. But TripAdviso (TRIP)didn't stay home and pout.

The company unveiled a flurry of acquisitions during the month, including European restaurant service Lafourchette, travel guide site Tripbod and Vacation Home Rentals.

TripAdvisor also pleased investors by posting bullish results on May 6 that revealed a 22% jump in revenue and a 44% boost to traffic.

The stock is up 20% in May.

5. SanDisk by a nose

SanDisk (SNDK, Fortune 500), which makes flash memory, benefited from an overall rebound in tech stocks this month.

The company ended May with a 13.7% rally, narrowly besting Tiffany (TIF) for the No. 5 spot amongst S&P 500 stocks.

SanDisk pleased investors by hiking its quarterly dividend by 33% on May 7 after posting a 62% jump in earnings in April.

Related: The wealthy are spending again, baby. Luxury stocks are back

Honorable mention: Tiffany soared 13.6% during May and was easily the month's best performing retailer in the S&P 500. The company has sparkle, but not quite enough for the top 5.

Correction: An earlier version of this article incorrectly reported that investor Carl Icahn increased his stake in Netflix during the month.

First Published: May 30, 2014: 3:05 PM ET

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Sonic & Chili's: Leave guns at home

Chili's told guests Friday to "refrain from openly carrying firearms into our restaurants."

NEW YORK (CNNMoney)

Chili's, which is owned by Brinker International (EAT), said Friday, "We kindly ask that guests refrain from openly carrying firearms into our restaurants and we will continue to follow state and local laws on this issue."

Sonic (SONC) said, "We're asking that customers refrain from bringing guns onto our patios or into our indoor dining areas."

Related: Chipotle: Guns not welcome here

In recent months, gun enthusiasts have held rallies and openly carried firearms, including large automatic weapons, into restaurants. It's alarmed customers and led to campaigns against guns in restaurants from advocacy groups like "Moms Demand Action for Gun Sense in America."

Earlier this month, Chipotle (CMG)said it did not want customers to bring guns into its restaurants "unless they are authorized law enforcement personnel."

Last year, Starbucks (SBUX, Fortune 500) also told customers they shouldn't bring guns into its stores. The company said the debate about whether people should openly carry guns had become increasingly uncivil and that the chain did not want its stores to be used as a political stage.

First Published: May 30, 2014: 5:52 PM ET

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Sonic & Chili's: Leave guns at home

Chili's told guests Friday to "refrain from openly carrying firearms into our restaurants."

NEW YORK (CNNMoney)

Chili's, which is owned by Brinker International (EAT), said Friday, "We kindly ask that guests refrain from openly carrying firearms into our restaurants and we will continue to follow state and local laws on this issue."

Sonic (SONC) said, "We're asking that customers refrain from bringing guns onto our patios or into our indoor dining areas."

Related: Chipotle: Guns not welcome here

In recent months, gun enthusiasts have held rallies and openly carried firearms, including large automatic weapons, into restaurants. It's alarmed customers and led to campaigns against guns in restaurants from advocacy groups like "Moms Demand Action for Gun Sense in America."

Earlier this month, Chipotle (CMG)said it did not want customers to bring guns into its restaurants "unless they are authorized law enforcement personnel."

Last year, Starbucks (SBUX, Fortune 500) also told customers they shouldn't bring guns into its stores. The company said the debate about whether people should openly carry guns had become increasingly uncivil and that the chain did not want its stores to be used as a political stage.

First Published: May 30, 2014: 5:52 PM ET

19.33 | 0 komentar | Read More

Hot stocks: 5 sizzling performers in May

NEW YORK (CNNMoney)

While there were many winners this month (sorry Whole Foods (WFM, Fortune 500) -- you definitely didn't make the cut), check out the rankings of the five hottest companies in the S&P 500 in May.

1. Netflix: Binge watching is the new black

Netflix (NFLX) was hammered by the risk aversion on Wall Street in recent months. The streaming movie rental service saw its shares slump 26% in March and April.

But investors quickly realized that lovers of "Breaking Bad" and "House of Cards" aren't abandoning Netflix any time soon. Shares spiked 30% in May, making it easily the best performer in both the S&P 500 and Nasdaq 100.

Netflix also announced a price increase for new members and plans to expand services to six more European countries: France, Germany, Austria, Switzerland, Belgium and Luxembourg.

Related: CNNMoney's Tech 30 Index

2. Electronic Arts: The World Cup effect?

The second hottest S&P 500 stock this month can trace its sparkling performance to a single day: May 6.

That was the day Electronic Arts (EA) blew Wall Street's socks off with earnings that crushed expectations. Buoyed by sales of games for PlayStation 4 and Xbox One, the video game maker also sounded a very positive tone for the rest of the year and unleashed a $750 million stock buyback.

The company, known as EA, also highlighted how strong its sports titles are, especially the blockbuster FIFA game ahead of this summer's World Cup. EA is one of the few non-apparel companies to serve as a major sponsor of top soccer stars.

Other video game makers have also enjoyed success this year, including France's Ubisoft (UBSFF), Activision Blizzard (ATVI) and Take-Two Interactive (TTWO).

After EA's 23% surge in May, the company has spiked 52% so far this year, good for No. 3 in the S&P 500 in 2014.

Related: Three tech stocks worth buying

3. Green Mountain juiced by Coke (again)

It's been a wild ride this year for investors of the company formerly known as Green Mountain Coffee Roasters.

Keurig Green Mountain (GMCR) spiked 36% in February after Coca-Cola (KO, Fortune 500) acquired a 10% stake in the company for $1.25 billion. But the coffee maker slumped 11% in April and continued to face skepticism from short sellers like hedge fund giant David Einhorn.

Coke came to the rescue once again, announcing plans on May 13 to boost its stake to 16%, adding more than $1 billion more. Green Mountain also impressed Wall Street wtih a 22% jump in profits.

The final result for Green Mountain is a heavily caffeinated 21% return for the month.

4. TripAdvisor charts an upward course

The online travel site finished April a hefty 26% below its all-time high, which was just the month before. But TripAdviso (TRIP)didn't stay home and pout.

The company unveiled a flurry of acquisitions during the month, including European restaurant service Lafourchette, travel guide site Tripbod and Vacation Home Rentals.

TripAdvisor also pleased investors by posting bullish results on May 6 that revealed a 22% jump in revenue and a 44% boost to traffic.

The stock is up 20% in May.

5. SanDisk by a nose

SanDisk (SNDK, Fortune 500), which makes flash memory, benefited from an overall rebound in tech stocks this month.

The company ended May with a 13.7% rally, narrowly besting Tiffany (TIF) for the No. 5 spot amongst S&P 500 stocks.

SanDisk pleased investors by hiking its quarterly dividend by 33% on May 7 after posting a 62% jump in earnings in April.

Related: The wealthy are spending again, baby. Luxury stocks are back

Honorable mention: Tiffany soared 13.6% during May and was easily the month's best performing retailer in the S&P 500. The company has sparkle, but not quite enough for the top 5.

Correction: An earlier version of this article incorrectly reported that investor Carl Icahn increased his stake in Netflix during the month.

First Published: May 30, 2014: 3:05 PM ET

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Want Beyoncé tickets? Wait till the last minute

Beyoncé and Jay-Z will be kicking off their tour at Sun Life Stadium in Miami in June. Last year, she played smaller arenas.

NEW YORK (CNNMoney)

The reason: Unlike last year, some of the hottest concerts -- Beyoncé, Rihanna, and One Direction -- are all playing at big stadiums.

Larger venues mean more tickets.

"As we get closer to the shows, ticket brokers who hold big blocks of seats will start to release their inventory, and there will be plenty of inventory this year," said Chris Matcovich, who runs data and communications for ticket search engine TiqIQ.

Matcovich says chances are, people will be able to get tickets the day before and even on the day of the event, especially if they don't care where they sit. However, he advises discerning concert goers who want choice seats not to wait till the day before. To be on the safe side, they should buy tickets a week or two before the performance.

Related: Apple buying Beats for $3 billion

Usually, when concert tickets are first released, only a few lucky fans are able to snag seats through Ticketmaster or parent Live Nation (LYV, Fortune 500). The rest are left to find tickets that are resold via StubHub, TicketNetwork, SeatGeek, or even eBay.

That's because ticket brokers, credit card companies, venue owners, and even fan clubs tend to snatch up large blocks of tickets as soon as they are sold. While brokers hope to sell at higher prices, companies use them as a special currency for VIP's.

But this year, they might end up holding on to more seats than they can fill until it's too late.

And that usually leads to last-minute discounts.

Consider this: The British boy band One Direction, a rage among American tweens and teenagers, will be playing this summer at 70,000- to 80,000-seat football fields. Last year, they played at 20,000-seat arenas.

The same holds true for Beyoncé and Jay-Z, who'll be kicking off their tour at Sun Life Stadium in Miami in June. Last year, the Queen B played smaller arenas.

Tickets are already selling at lower prices this year, according to TiqIQ.

In 2013, the average price of a One Direction ticket was selling for $433. This year, it's selling for $236, according to TiqIQ.

Similarly, tickets for Beyoncé's show last year cost $399. This year they're selling around $274.

And if Matcovich is right, chances are they could go even lower.

First Published: May 30, 2014: 3:03 PM ET

19.33 | 0 komentar | Read More

Stocks down slightly, but on track for great May

NEW YORK (CNNMoney)

Here's what you should know:

1. Strong month, but sluggish start to Friday trading: The Dow, S&P 500, and Nasdaq were down modestly Friday, but are holding onto sizable monthly gains.

On Thursday, the S&P 500 closed at 1,920, surpassing its previous record high from earlier this week. So far this month, the index has surged by nearly 2%. The Nasdaq is undergoing an even more dramatic rebound after two months in the red, adding more than 3% in May.

All three indexes are now positive for the year. In another telling sign of a rebound, the CNNMoney Fear & Greed index is in neutral territory.

Related: Fear & Greed Index stalls in neutral

2. Market movers: Salesforce, Big Lots, Ann Taylor, Ford -- Salesforce (CRM) shares were flat the company announced a partnership with Microsoft (MSFT, Fortune 500). The stock was one of the big moves pre-market, but the overall slip in stocks early Friday seems to have carried over to Salesforce.

Big Lots (BIG, Fortune 500) soared 11% after the retailer topped analyst earnings expectations and raised its outlook for the rest of the year.

Shares of Ann Taylor (ANN)popped over 4% after the women's apparel company beat earnings estimates, boosted by sales increases in its more casual LOFT brand.

Ford (F, Fortune 500) stock was under pressure after the automaker announced four recalls affecting at least 1.4 million vehicles. The stock slipped modestly in early trading.

Related: CNNMoney's Tech30

3. International action: European markets were mostly lower in morning trading, with shares of BNP Paribas (BNPQF) off by roughly 4.5%. The Wall Street Journal reported that U.S. authorities were pushing the bank to pay more than $10 billion to settle a criminal probe of alleged sanctions violations.

Asian markets ended with mixed results.

First Published: May 30, 2014: 9:49 AM ET

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India's economy still underwhelms

People are hoping that India's newly-installed Prime Minister Narendra Modi will help the country's economy grow.

HONG KONG AND LONDON (CNNMoney)

The disappointing number, released Friday, underscores the challenge facing India's newly-installed Prime Minister Narendra Modi as he takes over Asia's third biggest economy.

Meanwhile, investors have been optimistic that Modi will be able to pull India through its malaise.

The Indian rupee has strengthened almost 5% so far this year. The benchmark Mumbai Sensex index has increased by nearly 15% over the same period.

Related: Can Modi make India the new China?

India's growth potential was once mentioned in the same breath as that of China. But the world's biggest democracy has failed to deliver, and its economy is just a fifth the size of its Asian rival. China's economy grew by 7.7% in the first quarter of 2014.

In India, structural reforms have fallen foul of political gridlock. Analysts say India needs to simplify its tax code, encourage foreign investment and streamline agricultural production. Modi will have to move fast.

Modi likes to emphasize his management credentials. He campaigned on a record of low unemployment and high foreign investment in Gujarat, the state he led since 2001.

He has promised to end policy paralysis, reduce inflation and tackle corruption. He also pledged to establish manufacturing hubs and industrial corridors, improve the tax code and reform the banking sector.

The campaign was so successful that voters gave his Bharatiya Janata Party a majority in the lower house of parliament, sparing Modi the hassle of a coalition. Still, the BJP will face opposition from the Congress Party and other rivals in the upper house.

First Published: May 30, 2014: 9:33 AM ET

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Google spells out how to be 'forgotten' in search

Google is legally required to delete search results in Europe that are deemed inappropriate or irrelevant.

LONDON (CNNMoney)

The new form has been made available to people in 28 European Union countries and four neighboring nations after the European Union's top court ruled that people have the "right to be forgotten."

The ruling means that search engines like Google (GOOGL) must remove certain unwanted links from search results if requested.

"We will assess each individual request and attempt to balance the privacy rights of the individual with the public's right to know and distribute information," Google says on the form.

A Google spokesman said people from outside Europe could make requests too, but that it was not legally obligated to take them up. It was not immediately clear why Google included countries on the form that are outside the European Union.

In deciding whether content would be removed from its search results, Google said it would consider "whether there's a public interest in the information -- for example, information about financial scams, professional malpractice, criminal convictions, or public conduct of government officials."

At the same time, Google said it would continue refining the online request form.

The company is also creating an advisory committee to review difficult requests and ethical issues. The committee will be headed by Google's chairman, Eric Schmidt, and the company's chief legal officer, David Drummond. Members will reportedly include Wikipedia founder Jimmy Wales.

Related: Google fielding 'take-down requests' after privacy ruling

In mid-May, the European Court of Justice ruled that search engines were responsible for removing certain unwanted links if requested. The decision came as a surprise to the industry and legal experts.

Google is used to handling take-down requests. It has received more than 25 million requests from companies claiming Google results linked to material that infringes on copyrights. Google also receives thousands of requests from governments to take down links. Google complies with fewer than half of the government take-down requests but does not specify its compliance rate for copyright-related requests.

But copyright and many other laws are considerably clearer-cut that the test of "relevance to public interest" that Google must now abide by in Europe.

First Published: May 30, 2014: 8:28 AM ET

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Halal butcher promises 'honest to God' burgers

Russell Khan, Sulman Afridi, and Khalid Latif (left to right) at New York City's Honest Chops, the country's first halal whole animal butchery.

NEW YORK (CNNMoney)

Not only is the shop committed to selling humanely raised meat, it's all slaughtered in the Islamic tradition, which involves a prayer and quick death using a sharp knife.

Khalid Latif, who founded the butchery in March, spoke to Muslim students and working professionals in his community who wanted a higher quality of meat than their neighborhood markets offered.

Initially, he and his partners Anas Hassan and Bassam Tariq were just interested in opening a halal butchery. But after learning about the unnatural feed that commercial cattle and chickens are raised on, they opted to source their meat from small producers in upstate New York, Maryland and Massachusetts.

"When there's not a certain kind of purity to the food that we're consuming, that becomes problematic from the spiritual standpoint," said Latif, who has rigorous standards for the meat he sources.

Related: From farmers' markets to mass market

Everything at the shop, from its seasoned hamburger patties to whole chickens, is humanely raised on a vegetarian diet, free of hormones and GMOs. They call it their "Honest-to God" guarantee.

While the concept appeals to the pious, the shop's locally grown focus has also attracted secular people, who make up 60% of its customers.

"We were understanding of the demographics," said Latif, whose storefront neighbors several college campuses and a string of retail boutiques. "We tell our community members that they shouldn't look at their faith solely as something that brings benefit to them. Really, it's ensuring good quality meat to people who need meat."

Related: Beer, grilled cheese and really clean clothes

Unlike conventional butcheries that source mainly boxed cuts, Honest Chops' head butcher Rex Workman carves chuck roasts, sirloins and flank steaks from the whole cow. He grinds the odd bits into sausages and seasoned patties.

"Committing to use whole animal poses challenges, but these can also be opportunities," said Workman. His unique sausages, with names like The Patham and Ninth Degree, generate a profit on what would otherwise be wasted.

Reeducating customers about the cost of their product has been a challenge. Hand-slaughtered chickens run $3.50 per pound, nearly double that of their industrially grown counterparts, and beef sells for about 30% more.

"People don't understand the entire process," said Zaid Kurdieh, the owner of Norwich Meadows Meats, one of the shop's suppliers. "We sell food that is raised correctly, and that costs a lot of money."

Still, their prices are competitive with other artisanal butcheries. The business currently breaks about even, with slower periods during the week and steady foot traffic over the weekend, when the shop regularly sells an entire cow's worth of meat (which is about a third of their inventory).

Related: Hot businesses to start now

The business opened with $200,000 in capital, which came from individual investors in the Muslim community. Khalid hopes to increase their customer base and make the business profitable by offering delivery to Manhattan and the outer boroughs. He said he has 700 potential customers interested in the service.

With increased sales though, he is concerned about sourcing from his suppliers' limited stock.

"Many hadn't anticipated raising that much livestock this year," said Latif. "We're essentially in a place where if someone has a cow or a chicken, we ask to take it from them."

Over the next two years, Latif and his partners plan to add a slaughter facility to their operation to speed up production. They are also exploring sourcing from Australia and New Zealand, where farming practices are typically humane and comply with Islamic law.

Over time, they hope to donate a percentage of the revenue back to the Islamic Center to fund social services for the Muslim community.

"It's really about bringing benefit to the society around us," said Latif. "We want to ensure from start to finish everything is transparent and you can really trust where the meat is coming from."

First Published: May 30, 2014: 7:15 AM ET

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Stocks: 4 things to know before the open

Click on chart to track premarkets

LONDON (CNNMoney)

Here are four things you need to know before the opening bell:

1. Stock markets have a spring in their step: So far this month, the S&P 500 has surged by nearly 2% to hit new record highs. The Dow Jones industrial average has gained 0.7% and the Nasdaq has posted a dramatic rebound after two months in the red, adding more than 3%.

But will the gains continue on the final day of trading in May?

U.S. stock futures were lower, indicating stocks could retreat from recent record-setting levels. The CNNMoney Fear & Greed index is in neutral territory.

On Thursday, the S&P 500 closed at 1,920, surpassing its previous record high from earlier this week. The Dow Jones industrial average closed 0.4% higher and the Nasdaq ended up 0.5%.

Related: Fear & Greed Index stalls in neutral

2. Market movers -- BNP Paribas, Salesforce, Ford: Shares in BNP Paribas (BNPQF) declined by roughly 5% in Europe after the Wall Street Journal reported that U.S. authorities were pushing the bank to pay more than $10 billion to settle a criminal probe of alleged sanctions violations.

Salesforce (CRM) shares were up in extended trading after the company announced a partnership with Microsoft (MSFT, Fortune 500).

Ford (F, Fortune 500) stock was under a bit of pressure after the automaker announced four recalls affecting at least 1.4 million vehicles.

3. Data, data, data!: The U.S. government will release personal income and spending numbers for April at 8:30 a.m. ET. The University of Michigan will publish a final reading of its May consumer sentiment index at 9:55 a.m.

Related: CNNMoney's Tech30

4. International action: European markets were lower in morning trading, led by declines in the mining sector.

"A fresh record high for the S&P 500 has failed to enthuse London markets, as some worrying news from China sent miners lower," wrote IG analyst Chris Beauchamp in a market report, where he also mentioned concerns about weak manufacturing. "Warnings seem to be coming through with disturbing regularity, and the sharp drops in share prices that follow suggest that investor sentiment is far from being rock solid."

Asian markets ended with mixed results.

Investors in India are waiting for the latest report on quarterly GDP, which will be released at 8 a.m. ET. The Mumbai Sensex was little changed.

First Published: May 30, 2014: 5:10 AM ET

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I work in fast food and I'm not a teenager

Dre Finley, 24, has a college degree and works at Arby's for $8.78 an hour. He has a 5-year-old daughter and another baby coming soon.

NEW YORK (CNNMoney)

This is the face of today's fast food workers -- 70% of whom are over the age of 20, nearly 40% have children and a third of them have spent some time in college, according to U.S. census data.

It wasn't always this way.

In 1979, teenagers held 26% of all low-wage jobs, while adults aged 25-64 made up less than half of such workers, according to the Center for Economic and Policy Research, which analyzed the low wage workforce over a 30-year span.

Today, only 12% of low paying jobs are held by teenagers, while adults make up 60% of them. Also, only 20% of such workers had attended some college in 1979. Today, it's 33%.

In essence, people working at a McDonald's (MCD, Fortune 500), Burger King (BKW) or Wendy's (WEN) are older and more educated, but earning some of the lowest wages in the economy.

Related: Workers willing to be arrested for $15 minimum wage

They look more and more like Dre Finley, who earns $8.78 an hour at Arby's in Tampa, Fla. He is 24, has a five-year-old daughter and another child on the way. Finley also holds an associates degree from a community college.

"Some customers think you're stupid because you're behind the counter, but I have an education," said Finley.

And Finley is not alone in not being able to convert his degree to a better-paying job. Job choices have become limited -- 44% of American jobs created in the past four years have been in low wage industries like fast food, according to the National Employment Labor Project, a liberal labor rights advocacy group.

"There's a classic mismatch. Fast-food jobs don't require high degrees," said Christopher Flynn, an economics professor at New York University.

A key argument behind the latest wave of strikes to raise wages to $15 an hour is that fast food workers these days are no longer just teenagers looking for pocket change. They are mothers and fathers struggling to raise children on wages that are too low, in most cases below poverty level.

Research also shows that fast food companies haven't shared their profits equally among their workers. While the lowest paid have not seen a raise in a long time, the industry's top management are not only being paid handsomely but have given themselves hefty raises.

Related: "My boss doesn't rule my destiny"

Public policy group Demos says CEO compensation in the industry just since 2000 quadrupled to $24 million, while average fast food worker's wage only increased 0.3%.

Fast food CEOs also make 1,000 times more than the average worker in the industry.

"The idea that you can work hard and play by the rules and get ahead is disappearing for a large number of American workers," said Catherine Ruetschlin, an analyst at Demos. "As for the American Dream, it's not as easy as people think to leverage into upward mobility from low wage jobs."

Tanika Smith, a 25-year-old with a college degree, says her $8.75 hourly wage has barely budged since she started seven years ago at a McDonald's in Chicago.

"I never imagined working at a fast food place with a B.A. I imagined I'd be working downtown at a law firm making major bucks," says Smith, who hopes to earn a master's degree and aspires to be a judge.

Tanika Smith, a McDonald's worker, has a B.A.

"The people I work with now are not comfortable doing what they are doing. It's not what they want - but that's where the jobs are," Smith says.

First Published: May 30, 2014: 7:29 AM ET

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Joe Biden is wrong. China does innovate

Joe Biden chats with his Chinese counterpart Li Yuanchao in Beijing.

HONG KONG (CNNMoney)

"I challenge you: Name me one innovative project, one innovative change, one innovative product that has come out of China," the vice president dared cadets at Wednesday's Air Force Academy graduation.

In fact, innovation is a key driver of China's economy. It has been for years, and the government is putting money behind it.

Chinese companies are increasing research and development spending by up to 20% a year. Meanwhile, R&D spending in the United States is growing at about 1% to 4%.

The investment is paying off for China. The country is now home to some of the world's most innovative companies -- particularly in fields of mobile technology, biotech and medical devices.

Here are a few examples:

Smartphone maker Xiaomi: Founded just four years ago in Beijing, this company is now valued at more than $10 billion and sells just as many phones in China as Apple (AAPL, Fortune 500). It pumps out an updated operating system once a week. Its founder is frequently compared to Steve Jobs.

Tech company Tencent: This firm owns a web of mobile, telecom and online retail businesses that rank among the largest in the world. Tencent has a bigger market cap than Cisco (CSCO, Fortune 500) or Hewlett-Packard (HPQ, Fortune 500), more users than Twitter (TWTR) and more sales than Facebook (FB, Fortune 500). Its messaging app, WeChat, has more features than many of its Western competitors and is sweeping markets from Asia to Africa.

Network maker Huawei: The networks built to carry all that smartphone data? Huawei, a telecom equipment supplier, is second globally only to Ericsson (ERIC). Huawei employs more than 70,000 R&D employees. It's a leading proponent of 5G technology, and it is starting to make cell phones, too.

Biotech firm B.G.I.: This company sequences more DNA than any other institution on earth -- more than Harvard, more than the National Institutes of Health. It's an industry leader with nearly limitless ambition.

There are plenty more. The computer chips made by Fuzhou Rockchip Electronics. The desktops and phones made by Lenovo. The business model that led Alibaba to retail domination.

Related: Meet 4 kings of Alibaba's online retail empire

"Biden is playing to an outdated idea of China," said Shaun Rein, author of the forthcoming book "The End of Copycat China." "He is underestimating the rise of innovation in China."

Other experts agree. When McKinsey analysts examined China's economic trajectory in 2011, the country's innovation credentials "seemed like yesterday's question."

The McKinsey researchers said they found innovation "every day in areas such as renewable energy, consumer electronics, instant messaging, and mobile gaming, both at domestic players and at multinationals with significant research and product-development presences."

Of course, in absolute terms, China is not going to replace the United States as the world's top innovator anytime soon. And the country must work to overcome related problems, including a lack of intellectual property protections. The government is, in some sectors, still much too controlling.

But Rein sees the current innovation drive as a sea change.

"Chinese companies are now focused on innovation because they recognize there is so much profit to be made," Rein said.

American firms should be on notice. China is dreaming up new ideas everyday. And the country has been perfecting its ability to execute complex production and manufacturing plans for decades.

"By saying this stuff, Biden is not preparing American firms, or really preparing America, for the threat of Chinese innovation," Rein said.

First Published: May 29, 2014: 10:09 AM ET

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Tyson starts a bidding war for Hillshire

NEW YORK (CNNMoney)

Meat processor Tyson (TSN, Fortune 500) announced Thursday that it's offering $50 a share for Hillshire Brands (HSH, Fortune 500), exceeding the bid from chicken producer Pilgrim's Pride (PPC) of $45 a share totaling $6.4 billion, which was announced earlier this week.

"Our proposed price reflects the considerable value we see in such a combination, providing your shareholders with a higher return on their Hillshire investment than we believe can be attained in the near term by the Company either on a standalone basis or in combination with any other food processing company," wrote Tyson Chief Executive Officer Donnie Smith, in an open letter to Hillshire CEO Sean Connolly.

Hillshire shares surged 16% in early trading. Tyson shares were also higher.

Related: Pilgrim's bids to buy Hillshire

Hillshire is pursuing a deal of its own. The meat processor has agreed to buy Pinnacle Foods (PF), the maker of Birds Eye frozen vegetables and Duncan Hines cake mix.

Hillshire said earlier this week that it will stick to its plan to buy Pinnacle, even as its faces a potential takeover from Tyson or Pilgrim's.

Tyson, in a press release, said that its offer to buy Hillshire "constitutes a significantly superior alternative to Hillshire's previously announced agreement to acquire Pinnacle Foods."

First Published: May 29, 2014: 9:33 AM ET

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Stocks up. Investors shrug off weak GDP

NEW YORK (CNNMoney)

The Dow Jones industrial average, the S&P 500 and the Nasdaq were all higher in early trading. The S&P 500 shot to nearly 1,916 after the opening bell, another intraday trading record for the index.

The U.S. economy shrank at a 1% annual rate in the first three months of the year, according to revised data released Thursday. That was much worse than the initial 0.1% reading, and reflected a sharp drop in inventory spending by businesses.

But economists downplayed the report, saying more recent indicators suggest the economy has improved in the current quarter. For example, the latest report on weekly jobless claims showed a sharp drop in the number of people filing for unemployment benefits.

Here are the top moving stocks today:

A game of chicken? Shares of Hillshire Brands (HSH, Fortune 500) surged 15% after Tyson Foods (TSN, Fortune 500) unveiled a $6.8 billion buyout offer. The move comes days after Pilgrim's Pride (PPC) launched a bid to buy Hillshire for $6.4 billion. The packaged food companies are hungry to form one of the world's largest producers of meat, chicken and pork products.

Stock Beats: Apple (AAPL, Fortune 500) shares were modestly higher after the technology giant announced that it was buying headphone-maker Beats for $3 billion. News of the deal had been circulating for nearly three weeks.

Related: Fear & Greed Index still languishing in fear

Retail in focus again. Costco (COST, Fortune 500) has issued its latest quarterly results, showing that sales increased but profit came in slightly below expectations. The stock is up modestly in early trading.

Abercrombie & Fitch (ANF) shares surged more than 5% in early trading, even though the clothing retailer reported a quarterly loss

. "In what remains a difficult teen retail environment, we are pleased that earnings for the quarter were in line with our expectations," said Chief Executive Officer Mike Jeffries.

Retailers Guess (GES) and Pacific Sunwear (PSUN) will report after the close. Despite a 27% drop in share price yesterday, DSW stock stabilized today.

Related: CNNMoney's Tech30

European markets posted small declines in morning trading, though the FTSE 100 index in London was higher.

Asian markets mostly closed in the red Thursday.

Japan's Nikkei index bucked the trend and edged up by 0.1%. Japanese investors shrugged off retail sales data from April showing consumers were cutting back on their shopping after a sales tax hike.

First Published: May 29, 2014: 9:59 AM ET

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S&P slaps junk bond rating on Tesla debt

Tesla Motors CEO Elon Musk.

NEW YORK (CNNMoney)

S&P said late Tuesday that the electric car company's $2.2 billion in debt, due over the course of the next four to seven years, is a risky bet.

Its reasoning: "Tesla's narrow product focus, concentrated production footprint, small scale relative to its larger automotive peers, limited visibility on the long-term demand for its products, and limited track record in handling execution risks."

Tesla spokespeople did not immediately respond to a request for comment on the rating.

Related: Tesla sales may be cooling off

Tesla (TSLA) shares are up more than 40% this year, although they are off 20% from a record high in February.

Shares tumbled 11% the day after after the company reported improved sales but lower earnings for the first quarter. The stock has recaptured that lost ground since then.

CEO Elon Musk has announced plans for the company to raise $1.6 billion to build a huge new lithium battery plant, known as the Gigafactory.

The facility will be the key to the company's plans to produce a mass-market electric car.

Right now Tesla's only car is the Model S, a well-reviewed car with a price starting at about $69,000.

First Published: May 28, 2014: 8:20 AM ET

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Square's cash advance: Don't call it a loan

NEW YORK (CNNMoney)

On Wednesday, the company announced Square Capital. The new service will provide small businesses quick access to cash.

Square, a brainchild of Twitter (TWTR) co-founder Jack Dorsey, is not calling the program a lending service. Dorsey told CNNMoney that he wants Square to make it easier for its core group of small business customers to expand without having to take out a loan. He said the current lending process is "too complicated."

"It can take anyone six months to a year to get a loan or an advance," he said.

So how does the program work? Square will use data collected from stores that use its technology to work with customers that are interested in getting more capital and figure out how much they need.

"We now have this deeper understanding of our merchants because they're running their business on Square Register," Dorsey said. "We can actually advance them working capital, and we made it very easy by doing their business."

Caroline Bell, owner of a coffee chain in New York City called Cafe Grumpy, accepted money from Square Capital as part of its pilot program. She says she received the capital within days -- and that helped her open a sixth location at Grand Central.

Bell told CNNMoney that her company has used Square technology for years. So she felt comfortable getting cash from the company instead of applying (and waiting) for a loan to be approved.

"The time it takes, you can be writing, filling out applications for six months," Bell said. "With Square Capital, you're already in a relationship with Square. They already have your bank account information, they know how the business is doing, so the funding comes automatically."

How will Square get its money back if it isn't technically lending money like a bank?

Companies that accept money via Square Capital pay a percentage back of their credit card sales to Square every day. That percentage would not change.

The amount Square makes from each deal may vary, but Square will not collect interest. Small businesses also aren't required to pay back Square in any specific time table.

For example, Square may agree to advance a customer $10,000 in exchange for $11,000 in future sales. Square could take 10% of the company's daily credit card sales until the money is paid back.

"The way you pay that back is just by swiping your customers' credit cards," Dorsey explains. "So during the course of the business day, you're actually paying back your business capital."

Dorsey says five years down the road, he imagines the cash register will live in the cloud. The entrepreneur envisions a payment environment where a countertop cash register is complimented by a mobile register and businesses have easier access to their data.

First Published: May 28, 2014: 9:46 AM ET

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Stocks open lower after Tuesday's record highs

NEW YORK (CNNMoney)

Here are the key things to keep your eye on throughout the trading day:

Not looking good for more record highs today: The S&P 500 hit a record high on Tuesday, and investors are watching to see if the five-year bull market can continue its steady march upward.

"We continue to see a market that feeds on upward momentum," said Peter Cardillo, chief market economist at Rockwell Global Capital.

But after a strong performance at the close of May, he projected that the market will hit a "short term top" in June and trade "sideways" until a new catalyst comes along. "The market needs to take a breather," he said.

Retail stocks on the move: Sometimes the shoe really doesn't fit. DSW (DSW), a discount shoe outlet, lost a quarter of its market cap in early trading, as earnings came in at the lower end of expectations and same-store sales growth fell 3.7% from the year before.

Michael Kors (KORS) reported results before the opening bell, and profits were a bit better than expected. The stock is flat in early trading. Kors shares are up more than 17% since the start of the year as the brand seems to be winning the battle for upper middle class purse consumers.

Related: Coach is going out of fashion among investors

Homebuilder stocks picking up: Toll Brothers (TOL) reported surprisingly strong earnings before the open, bouncing back from a disappointing start to the year because of the winter weather. Revenue was closer in line with expectations. Shares were up 3% in early trading, before falling back.

A handful of other homebuilder stocks are also seeing some small gains as well, including D.R. Horton (DHI), Lennar (LEN) and PulteGroup (PHM).

Related: CNNMoney's Tech30

International movement

European markets were tipping lower towards the end of trading, while Asian markets ended mostly higher. The Shanghai Composite led the way with a 0.8% jump.

First Published: May 28, 2014: 10:07 AM ET

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Home prices rose in March

NEW YORK (CNNMoney)

For the quarter, home prices across the country rose 10.3% on an annual basis, the S&P/Case-Shiller report said. That was, however, a slower gain than the previous two quarters, when prices rose more than 11% each. Prices rose just 0.2% from the final three months of 2013.

In March, an index of 20 large housing markets gained 12.4% year-over-year. The monthly rise of 0.9% was relatively robust. In February, prices were flat.

Related: I'm priced out of downtown Detroit

"The year-over-year changes suggest that prices are rising more slowly," according to David Blitzer, chairman of the index committee at S&P.

Trends in the housing market have been mixed, with a bounce back for housing starts in April and better new home sales. Buyers have been able to take advantage of very low mortgage interest rates, but tight loan underwriting still keeps many potential homebuyers out of the market.

Related: Buy vs. rent -- what you'll pay in the 10 biggest cities

Even though price gains have moderated, all the cities in the 20-city index recorded gains year-over-year led by Las Vegas at 21.2%. Prices in San Francisco, San Diego and Los Angeles also rose faster than average.

On a monthly basis, New York was the only city with a decline in March.

Prices remain about 18% below their peak, which was reached in the summer of 2006.

First Published: May 27, 2014: 9:17 AM ET

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Stocks surge to new records

NEW YORK (CNNMoney)

Stocks raced to fresh record highs at Tuesday's opening bell, powered by solid U.S. economic indicators and positive momentum following elections in Europe.

The Dow Jones industrial average, S&P 500 and Nasdaq all posted steady gains in early trading. U.S. stocks were closed on Monday in observance of Memorial Day.

Here are four things you need to know today:

1. Another day, another record: The early buying carried the S&P 500 into record territory and above the psychologically-important 1,900 level. The broad average closed at an all-time high of 1,900.5 on Friday.

The Dow is within striking distance of its record closing high of 16,715.4 that was set earlier this month.

This week should feature a lot of "catch up" as traders return from the long weekend and realize "they need to hop on or underneath the train before it leaves the station," Michael Block, chief strategist at Rhino Trading Partners, said in a note.

2. Movers & shakers -- Hillshire Brands, InterContinental Hotels, AstraZeneca, Bank of America: It's quite the meat market this morning. Shares of Hillshire Brands (HSH, Fortune 500) popped 21% in early trading after Pilgrim's Pride (PPC) offered to acquire the food maker for about $6.4 billion. That offer complicates Hillshire's $4.3 billion proposed buyout of Pinnacle Foods (PF).

Related: Hillshire shares surge after Pilgrim's takeover bid

Bank of America (BAC, Fortune 500) bounced 3% higher after saying it resubmitted a capital plan to the Federal Reserve after a calculation mistake scuttled the prior one. BofA said the new request is smaller than the previous one.

Shares of InterContinental Hotels (IHG) rose 4% after Sky News reported the hotel chain rejected a secret £6 billion ($10 billion) bid by a U.S. suitor. The company declined to comment on the report.

AstraZeneca (AZN) retreated 2% as investors reacted to Pfizer's (PFE, Fortune 500) confirmation that it would no longer pursue a mega-takeover of the British drugmaker.

Related: Fear & Greed Index sinks into extreme fear

3. Economic indicators positive: The government said U.S. orders for big ticket items like appliances grew 0.8% in April, slowing down from March's healthy pace but beating expectations for a narrow decline in durable goods orders.

U.S. home prices in 20 cities rose 0.9% in March from February, according to S&P/Case Shiller. That trumped forecasts for a more modest increase.

The Conference Board is scheduled to release its latest consumer confidence index at 10 a.m.

Related: Tech stocks are back

4. International movement: European markets had an eventful session Monday -- with some key markets up by over 1% -- but they were less enthusiastic Tuesday.

Investors brushed off European Union election results that showed far-right and far-left parties had gained additional traction. A majority of voters still supported traditional parties in the European Parliament.

Investors were also pleased that Ukrainian elections were completed without too many complications.

European markets have also been boosted by dovish hints emerging from the European Central Bank, which may be poised to inject new stimulus measures when it meets next month.

Asian markets were mixed Tuesday.

First Published: May 27, 2014: 9:52 AM ET

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Mail delivery to your door at risk

Mail delivery to your door could be going away, if a panel of House Republicans gets its way.

WASHINGTON (CNNMoney)

Currently, 37 million American homes and businesses get mail delivered to their doors. Now, about 15 million of them are at risk of losing home delivery if House Republicans have their way.

Already, the U.S. Postal Service has been moving residents and businesses away from doorstep deliveries to cheaper options.

Last year, the postal service stopped giving new housing developments the choice of at-home delivery and instead gave them mail boxes clustered in a common area, where residents could collect their mail.

Related: Worst cities for postal worker dog bites

The agency has also been trying to end door delivery for companies, said postal spokeswoman Sue Brennan.

However, the postal service can't just stop delivering mail to a homeowner's door, unless there's a problem, such as a dog biting a postal worker or a route is unsafe for other reasons.

But Congress can give the agency broader power to reduce such deliveries. Republicans want to do just that -- a House panel passed a bill last week that will end delivery to 15 million doorsteps and companies over the next 10 years.

Even though President Obama has endorsed a similar idea, the bill's fate is uncertain because it may not have support in the Senate.

Related: Amazon expands Sunday deliveries

Delivering mail is the agency's largest fixed cost -- $30 billion. Ending all door deliveries would save $4.5 billion a year. That's more than the agency would save from ending Saturday mail service, according to government reports.

Ending door deliveries is also controversial because postal letter carriers could have their hours cut, be forced into retirement or even laid off.

That's a big reason why unions are no fans of these moves to cheaper delivery. The National Association of Letter Carriers said this week the House bill degrades the quality of mail service and will push customers away.

Unions oppose most efforts to cut mail service, saying the agency should focus on attracting more customers not turning off more people.

First Published: May 27, 2014: 9:54 AM ET

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How celebrity hacker 'Sabu' helped feds thwart 300 cyber-attacks

NEW YORK (CNNMoney)

That's according to new U.S. government documents that for the first time provide extensive detail about what they call the "extremely valuable and productive" undercover cooperation of Hector Monsegur.

Monsegur used the Sabu moniker online, where he was a member of the hacking collectives Anonymous and LulzSec.

He pleaded guilty to charges including identity theft and credit card fraud and is set to be sentenced on Tuesday.

He would face up to 26 years in prison for the $2.5 million in losses connected to his hacks, but the government is seeking leniency -- perhaps no additional prison time beyond seven months he already served.

Prosecutors said his work on behalf of the FBI helped thwart attacks on websites belonging to the U.S. military, NASA and media companies, among others. The FBI relocated him and his family because he received threats for his cooperation, the court documents say.

Related: How the FBI made a global hacker bust

Monsegur was part of a group of hackers that became notorious in 2011 for breaking into or disabling U.S. government and corporate websites. The Anonymous-affiliated groups LulzSec and Internet Feds targeted sites including PBS, Fox Television, Nintendo and Sony Pictures. Their public boasts on Twitter and elsewhere on the Internet drew them instant celebrity as so-called hacktivists, because they often claimed to make a political point in their activities.

The documents show that in June 2011, FBI agents visited Monsegur's apartment in a public housing project in Manhattan's lower east side. They confronted him about his activities and he immediately agreed to become an informant.

He agreed to a guilty plea, returned to his apartment and was back online in hours -- this time, working for the FBI.

His assistance helped the FBI investigate and net LulzSec and Internet Feds members, including the FBI's most-wanted cybercriminal, Jeremy Hammond, who is serving a 10-year prison sentence, prosecutors said in court documents.

Related:6 most dangerous cyberattacks

"Working sometimes literally around the clock, at the direction of law enforcement, Monsegur engaged his co-conspirators in online chats that were critical to confirming their identities and whereabouts," prosecutors said. "During some of the online chats, at the direction of law enforcement, Monsegur convinced LulzSec members to provide him digital evidence of the hacking activities they claimed to have previously engaged in, such as logs regarding particular criminal hacks."

His quick cooperation was key, according to the documents, because LulzSec had established a protocol to destroy computer evidence if any of their members went missing or was arrested.

"Monsegur admitted to engaging in hacking activities about which the government had not previously developed evidence," prosecutors said. He hacked thousands of computers, at first in a bid to build a legitimate computer security company and then to steal and pay his bills, prosecutors said.

Monsegur's cooperation with the FBI became public when he was arrested in 2012 for making unauthorized online postings, violating his cooperation agreement.

Upon the news, Anonymous members hacked a computer-security website and posted an open letter to Sabu. It read: "Sabu snitched on us. As usually happens FBI menaced him to take his sons away. We understand, but we were your family too (remember what you liked to say?) It's sad and we can't imagine how it feels having to look at the mirror each morning and see there the guy who shopped their friends to [the] police."

First Published: May 25, 2014: 3:12 PM ET

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Production halt for India's iconic Ambassador

An Ambassador taxi on the streets during monsoon rain in Kolkata.

HONG KONG (CNNMoney)

Once the vehicle of choice for Indian politicians and bureaucrats, the Ambassador's design was borrowed from Britain's Morris Oxford. The car's look hasn't changed much since the 1950's, making it one of the most enduring sights on India's streets.

While the car's popularity has diminished greatly in recent years, the Ambassador is still used today as a taxi in several Indian cities including Kolkata. Last year, the Ambassador was named world's best taxi by the popular BBC show Top Gear.

The suspension of work at Hindustan Motors' Uttarpara production facility, where the Ambassador is built, has thrown the model's future into doubt. Only a few thousand of the cars are sold each year.

The company said in a stock market filing that it was working to fix substantial problems at the factory located near Kolkata.

"The Company has been transparent in sharing updates about the worsening conditions at its Uttarpara Plant which include very low productivity, growing indiscipline, critical shortage of funds, lack of demand for its core product, the Ambassador, and large accumulation of liabilities," the statement said.

Related: Inside Nissan's 'Taxi of Tomorrow'

Rajiv Saxena, a company spokesman, said that the suspension of work at the factory did not mean permanent closure.

"We have suspended operations to set things right for revival," he said.

-- CNN's Ravi Agrawal contributed reporting from New Delhi.

First Published: May 26, 2014: 2:47 AM ET

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Stocks rise as EU election results come in

Alexis Tsipras leads the far-left Syriza party in Greece. His anti-austerity party that has received roughly 27% of the vote.

LONDON (CNNMoney)

Germany's DAX index led the way with a 0.9% rise. Spain's IBEX gained 0.8%, while France's CAC 40 added 0.2%. The euro continued its decline against the dollar.

European Parliament election results show voters are increasingly turning their backs on the European Union, with many 'euroskeptic' parties gaining significant support in countries such as France, the U.K. and Greece.

Meanwhile, Ukrainians seem to be voting in favor of further integration with Europe. Billionaire Petro Poroshenko has declared himself the winner of the Ukrainian presidential elections after getting over 50% of the vote. The seasoned politician has been vocal about his pro-European Union views.

Related: Europe's own 'tea party' risk

The growing popularity of anti-EU protest parties on the far right and far left indicate a severe backlash against pan-European cooperation, European institutions and austerity measures.

In France, the far-right National Front party -- which has rallied against the EU and immigration -- has won a historic victory with 25% of the French vote, beating out more moderate pro-EU parties that dominated the elections five years ago. In the previous European elections, the National Front garnered just 6% of the vote.

In the United Kingdom, an increasingly prominent protest party that has loudly voiced its desire to get out of the EU won roughly 28% of the votes.

In Greece, the far-left Syriza party won roughly 27% of the vote.

The success of these anti-EU fringe parties could make for noisier Parliament debates and could complicate the passing of EU laws and appointments to the EU executive. It could also destabilize pro-EU governments in some countries and weaken the resolve of others to stick to painful economic reforms.

But this doesn't necessarily spell the death of a united European Union. Results show the left-center and right-center parties will still hold a majority of seats in the European Parliament.

"After four years of a wrenching euro crisis, pro-European mainstream parties ... will still have close to 70% of the seats in the EU parliament," said Berenberg chief economist, Holger Schmieding. "Although it will be more difficult to negotiate a trade deal with the U.S., European institutions can function well with that result."

According to European election officials on Monday morning, 85% of the votes across the 28 participating nations have been counted.

First Published: May 26, 2014: 7:23 AM ET

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How celebrity hacker 'Sabu' helped feds thwart 300 cyber-attacks

NEW YORK (CNNMoney)

That's according to new U.S. government documents that for the first time provide extensive detail about what they call the "extremely valuable and productive" undercover cooperation of Hector Monsegur.

Monsegur used the Sabu moniker online, where he was a member of the hacking collectives Anonymous and LulzSec.

He pleaded guilty to charges including identity theft and credit card fraud and is set to be sentenced on Tuesday.

He would face up to 26 years in prison for the $2.5 million in losses connected to his hacks, but the government is seeking leniency -- perhaps no additional prison time beyond seven months he already served.

Prosecutors said his work on behalf of the FBI helped thwart attacks on websites belonging to the U.S. military, NASA and media companies, among others. The FBI relocated him and his family because he received threats for his cooperation, the court documents say.

Related: How the FBI made a global hacker bust

Monsegur was part of a group of hackers that became notorious in 2011 for breaking into or disabling U.S. government and corporate websites. The Anonymous-affiliated groups LulzSec and Internet Feds targeted sites including PBS, Fox Television, Nintendo and Sony Pictures. Their public boasts on Twitter and elsewhere on the Internet drew them instant celebrity as so-called hacktivists, because they often claimed to make a political point in their activities.

The documents show that in June 2011, FBI agents visited Monsegur's apartment in a public housing project in Manhattan's lower east side. They confronted him about his activities and he immediately agreed to become an informant.

He agreed to a guilty plea, returned to his apartment and was back online in hours -- this time, working for the FBI.

His assistance helped the FBI investigate and net LulzSec and Internet Feds members, including the FBI's most-wanted cybercriminal, Jeremy Hammond, who is serving a 10-year prison sentence, prosecutors said in court documents.

Related:6 most dangerous cyberattacks

"Working sometimes literally around the clock, at the direction of law enforcement, Monsegur engaged his co-conspirators in online chats that were critical to confirming their identities and whereabouts," prosecutors said. "During some of the online chats, at the direction of law enforcement, Monsegur convinced LulzSec members to provide him digital evidence of the hacking activities they claimed to have previously engaged in, such as logs regarding particular criminal hacks."

His quick cooperation was key, according to the documents, because LulzSec had established a protocol to destroy computer evidence if any of their members went missing or was arrested.

"Monsegur admitted to engaging in hacking activities about which the government had not previously developed evidence," prosecutors said. He hacked thousands of computers, at first in a bid to build a legitimate computer security company and then to steal and pay his bills, prosecutors said.

Monsegur's cooperation with the FBI became public when he was arrested in 2012 for making unauthorized online postings, violating his cooperation agreement.

Upon the news, Anonymous members hacked a computer-security website and posted an open letter to Sabu. It read: "Sabu snitched on us. As usually happens FBI menaced him to take his sons away. We understand, but we were your family too (remember what you liked to say?) It's sad and we can't imagine how it feels having to look at the mirror each morning and see there the guy who shopped their friends to [the] police."

First Published: May 25, 2014: 3:12 PM ET

19.33 | 0 komentar | Read More

Production halt for India's iconic Ambassador

An Ambassador taxi on the streets during monsoon rain in Kolkata.

HONG KONG (CNNMoney)

Once the vehicle of choice for Indian politicians and bureaucrats, the Ambassador's design was borrowed from Britain's Morris Oxford. The car's look hasn't changed much since the 1950's, making it one of the most enduring sights on India's streets.

While the car's popularity has diminished greatly in recent years, the Ambassador is still used today as a taxi in several Indian cities including Kolkata. Last year, the Ambassador was named world's best taxi by the popular BBC show Top Gear.

The suspension of work at Hindustan Motors' Uttarpara production facility, where the Ambassador is built, has thrown the model's future into doubt. Only a few thousand of the cars are sold each year.

The company said in a stock market filing that it was working to fix substantial problems at the factory located near Kolkata.

"The Company has been transparent in sharing updates about the worsening conditions at its Uttarpara Plant which include very low productivity, growing indiscipline, critical shortage of funds, lack of demand for its core product, the Ambassador, and large accumulation of liabilities," the statement said.

Related: Inside Nissan's 'Taxi of Tomorrow'

Rajiv Saxena, a company spokesman, said that the suspension of work at the factory did not mean permanent closure.

"We have suspended operations to set things right for revival," he said.

-- CNN's Ravi Agrawal contributed reporting from New Delhi.

First Published: May 26, 2014: 2:47 AM ET

19.33 | 0 komentar | Read More

Stocks rise as EU election results come in

Alexis Tsipras leads the far-left Syriza party in Greece. His anti-austerity party that has received roughly 27% of the vote.

LONDON (CNNMoney)

Germany's DAX index led the way with a 0.9% rise. Spain's IBEX gained 0.8%, while France's CAC 40 added 0.2%. The euro continued its decline against the dollar.

European Parliament election results show voters are increasingly turning their backs on the European Union, with many 'euroskeptic' parties gaining significant support in countries such as France, the U.K. and Greece.

Meanwhile, Ukrainians seem to be voting in favor of further integration with Europe. Billionaire Petro Poroshenko has declared himself the winner of the Ukrainian presidential elections after getting over 50% of the vote. The seasoned politician has been vocal about his pro-European Union views.

Related: Europe's own 'tea party' risk

The growing popularity of anti-EU protest parties on the far right and far left indicate a severe backlash against pan-European cooperation, European institutions and austerity measures.

In France, the far-right National Front party -- which has rallied against the EU and immigration -- has won a historic victory with 25% of the French vote, beating out more moderate pro-EU parties that dominated the elections five years ago. In the previous European elections, the National Front garnered just 6% of the vote.

In the United Kingdom, an increasingly prominent protest party that has loudly voiced its desire to get out of the EU won roughly 28% of the votes.

In Greece, the far-left Syriza party won roughly 27% of the vote.

The success of these anti-EU fringe parties could make for noisier Parliament debates and could complicate the passing of EU laws and appointments to the EU executive. It could also destabilize pro-EU governments in some countries and weaken the resolve of others to stick to painful economic reforms.

But this doesn't necessarily spell the death of a united European Union. Results show the left-center and right-center parties will still hold a majority of seats in the European Parliament.

"After four years of a wrenching euro crisis, pro-European mainstream parties ... will still have close to 70% of the seats in the EU parliament," said Berenberg chief economist, Holger Schmieding. "Although it will be more difficult to negotiate a trade deal with the U.S., European institutions can function well with that result."

According to European election officials on Monday morning, 85% of the votes across the 28 participating nations have been counted.

First Published: May 26, 2014: 7:23 AM ET

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Tech stocks are back. Forget that Spring sell-off

The Nasdaq has rebounded in May and is currently up 1.7%. Click the chart for more stock info.

NEW YORK (CNNMoney)

The truncated week will also mark the end of a dramatic month for stocks.

Nasdaq rallies in May

Investors traditionally unload shares before they head off for summer vacation, but sticking it out through May looks like a wise move this year. The Nasdaq is up 1.7% so far this month, shaking off its losses from March and April when there was broad sell-off of so-called "momentum stocks."

Related: Get ready for the summer bummer in the stock market

The Dow and S&P 500 are also on track to end the month higher. On Friday, the S&P 500 closed above 1,900 for the first time ever.

Earnings season is over

Earnings season is nearly over, with 98% of S&P 500 companies having reported quarterly earnings, according to FactSet. To date, 74% of those companies have beaten expectations, but that's partly because the predictions were so low after the harsh winter. Profits are only up 2.1% over the same time last year.

Some of the last firms to report include purse and watchmaker Michael Kors (KORS), due out on Wednesday. Analysts are expecting sales to grow by more than half, but the company wouldn't be the first high-end retailer this quarter to do well.

Related: The 1% drive big gains for luxury brands.

Abercrombie & Fitch (ANF) will report on Thursday, but it is expected to show a decline. Those watching the company think sales are going to fall and profits will turn to losses for the teen retailer.

Lions Gate Entertainment (LGF), the studio behind the popular Divergent film franchise, also reveals performance on Thursday. It is expected to be flat from last quarter, though far better than the same time last year.

Economic data: Consumer confidence

Friday isn't quite the end of June, so investors have to wait another week for much anticipated American jobs report, but there are plenty of other big economic releases to dig through as they plan their summer vacations.

Consumer confidence stats drop Tuesday, along with data on home prices. Both are expected to remain relatively flat from the previous month. Initial jobless claims come out on Thursday, and economists predict they will dip lower, which would be a good sign for those hoping for a stronger labor market.

All three economic measures will be picked over by investors seeking clarity on the strength of the recovery.

Related: 3 reasons interest rates will stay low for years

Geopolitical tensions

There's still plenty of geopolitical risk to potentially spook the markets, including deadly violence in the lead up to Ukraine's elections on Sunday. Unrest also continues in Thailand, with the military shutting down international television networks and banning some politicians from leaving the country following a coup d'etat.

So far, these events have not had a major impact on world markets.

First Published: May 25, 2014: 9:44 AM ET

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I sold my startup to Cisco. Here's why

Dov Yoran, CEO and co-founder of ThreatGRID, talks about why he sold his company to Cisco Systems.

NEW YORK (CNNMoney)

Yoran had grown accustomed to refusing countless tech companies and investors who wanted a piece of his firm's sophisticated threat intelligence platform.

"We've been saying no to people for years. We didn't build a company just to flip it and move on," said Yoran, who co-founded ThreatGRID with Dean De Beer. "We really wanted to experience the whole thing from a startup and having guys sleep on couches and bootstrapping it."

And then Cisco Systems (CSCO, Fortune 500) entered the picture.

Cisco began informal conversations with New York-based ThreatGRID late last year. The talks quickly accelerated this winter and culminated this week with Cisco announcing a deal to acquire ThreatGRID and pair it with its rapidly expanding security platform.

Related: Internet Explorer bug lets hackers control your PC

"They made an incredibly compelling offer -- for not only today but what the vision looks like going forward," said Yoran, who is CEO of ThreatGRID.

Neither Cisco nor ThreatGRID would disclose the value of the deal due to confidentiality agreements.

But Yoran said "it was a fantastic exit for investors, shareholders and employees."

Yoran, who is 38 years old and lives in New York's SoHo neighborhood, said he doesn't plan any major lifestyle changes despite the looming financial windfall.

"It really wasn't about the money. It was about the drive and excitement of what we were building. The money came afterwards, which is pretty cool," said Yoran, who was a pre-med major at Tufts University before changing direction and earning a bachelor's in chemistry. He received his master's at George Washington University.

So why did Yoran decide to sell to Cisco after saying no to many others?

The clincher was the ability of Cisco to help ThreatGRID expand by incorporating the platform with its other products. Cisco plans to marry ThreatGRID with SourceFire, the cyber security company it acquired last year for $2.7 billion. SourceFire and ThreatGRID should be comfortable with each other since they had a previous partnership.

It also helps that the sale won't rock the boat for ThreatGRID's 25 employees, who will be allowed to continue doing what they do now, including working from home.

ThreatGRID crowdsources massive volumes of malware to provide threat intelligence to its clients, which include security subsidiaries of General Dynamics (GD, Fortune 500) and EMC (EMC, Fortune 500).

"We analyze data that are captured by endpoint and network vendors and we make it readable in a way their products can digest and take action," said Yoran.

Related: U.S. wants companies to share security data

Cyber security firms continue to be objects of desire for big tech companies due to the rising threat level.

Consider that the ThreatGRID deal was unveiled during a week headlined by a major hacker crackdown by the FBI, the U.S. accusing Chinese hackers of cyber espionage, eBay (EBAY, Fortune 500) disclosing a cyber attack and Target (TGT, Fortune 500) detailing its struggles to recover from last year's epic breach.

"For cyber attackers, and those who defend against them, the stakes could not be higher than they are right now," said Hilton Romanski, head of business development at Cisco, in a blog post announcing the ThreatGRID acquisition.

ThreatGRID is the first company Yoran co-founded that wound up being acquired, but it's hardly his first rodeo in the merger and acquisitions world.

Over the past two decades, Yoran worked at and invested in companies acquired by Intel's (INTC, Fortune 500) McAfee and Symantec (SYMC, Fortune 500), including a firm co-founded by his two brothers.

He said that experience helped guide him through Cisco's rigorous acquisition process and contemplate other potential options -- such as another round of funding or even an initial public offering.

And he made sure to remember this important lesson.

"You're not selling the company. Someone is buying the company," he said.

First Published: May 24, 2014: 10:58 AM ET

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GM faulty ignition crashes now 47

This is the 57-cent part at the center of GM's recall crisis.

NEW YORK (CNNMoney)

GM (GM, Fortune 500) has raised the number of frontal-impact crashes linked to the problem ignitions to 47 from 32, according to company spokesman Greg Martin.

Because of the flawed ignition, key rings holding more than one key could cause the ignition to suddenly switch to the accessory or off position. That can lead to a loss of power -- disabling power braking and steering and interrupting airbags from deploying in an accident.

GM says the number of deaths tied to front impact crashes stemming from this defect remains at 13.

The National Highway Traffic Safety Administration chided the automaker for the way it handled the recall and said that the number of deaths tied to the problem was likely higher.

"GM knew about the safety defect, but did not act to protect Americans from that defect until this year. The families and friends of those lost in the crashes have the deepest sympathies of everyone at NHTSA. They deserve straight answers about what happened to their loved ones," NHTSA said in a statement.

"The final death toll associated with this safety defect is not known to NHTSA, but we believe it's likely that more than 13 lives were lost," NHTSA said.

GM spokesman Jim Cain said the automaker was aware of the NHTSA statement and that "if necessary we will adjust the number."

Related: Steps to a recall nightmare

GM has come under fire for the way it handled the flawed ignition switch.

Company employees knew about the defect for more than a decade before a recall was initiated in February 2014. So far, the automaker has recalled 2.6 million cars worldwide due to the ignition switch.

CEO Mary Barra has revamped how GM handles safety issues. A new unit charged with quickly uncovering safety defects has begun to aggressively issue recall notices for problems beyond the ignition switch.

The company has initiated 30 separate recalls covering 13.8 million U.S. cars and trucks, and 15.8 million vehicles worldwide, in 2014. That's more cars and trucks than GM sold in the five years since emerging from bankruptcy protection in 2009.

So far GM has agreed to pay the maximum fine of $35 million to NHTSA for the delay in the ignition recall. And it will be subject to closer oversight by the regulator.

The Justice Department is also considering whether to bring criminal charges against the automaker. A similar probe over Toyota's 2009 and 2010 unintended acceleration recalls led to a $1.2 billion fine earlier this year.

The company estimates it will cost $1.7 billion to repair the cars recalled so far in 2014. That expense essentially erased the profit the company would have reported in the first quarter.

GM shares are down 18% this year, lagging behind rivals Toyota (TM) and Ford Motor (F, Fortune 500).

-CNNMoney's Chris Isidore, CNN's Chris Kokenes and Rene Marsh contributed to this report.

First Published: May 24, 2014: 1:05 PM ET

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