#DetroitWater campaign wants you to pay residents' past-due bills

Detroit's looming water shutoffs spark a social media campaign and an app to connect donors with residents behind on their bills.

NEW YORK (CNNMoney)

The Detroit Water Project connects donors with Detroit residents who are delinquent on their water payments. The website lets donors submit direct payments to the Detroit Water and Sewerage Department.

The campaign's #DetroitWater hashtag is helping to spread the word about the initiative, and it has been tweeted thousands of times. More than 300 Detroit residents have registered for the Detroit Water Project, and the campaign has received contributions from 2,400 donors.

The city's ongoing practice of shutting off the water of Detroiters who have bills over 60 days past due or owe at least $150 has sparked controversy. Last week, on the one-year anniversary of Detroit's historic bankruptcy filing, residents took to the streets to protest the city's water shutoffs.

Related: Why Detroit filed for bankruptcy

In June, the United Nations released a statement calling Detroit's disconnection of water services to thousands of customers an affront to human rights. Citing the struggling city's high poverty and unemployment rates, the UN said the shutoffs for Detroiters who genuinely can't afford to pay off their bills a is violation of the right to water.

On Monday, the water shutoffs were temporarily suspended for a 15-day grace period.

Related: How Detroit's bankruptcy impacts my life

The founders of the Detroit Water Project met and conceived of the project over Twitter. Engineer and Code for America fellow Tiffani Bell, and Kristy Tillman, a design director for a start up, collaborated remotely from Oakland and Boston. Three days after their initial tweet back and forth, Bell and Tillman had their first donor on the site.

"We wanted a way to make immediate impact to provide relief to Detroit residents," said Tillman, noting that many existing crowdfunding options require recipients to wait until the end of a campaign to receive the donations. "Technology is merely a tool. How it's used depends on who's wielding it."

First Published: July 25, 2014: 7:04 AM ET

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Murdoch shoring up his war chest

LONDON (CNNMoney)

21st Century Fox (FOXA), home to Murdoch's film and TV businesses, is merging its satellite TV operators in Italy, Germany and the U.K., creating a European market leader and pocketing £4.9 billion ($8.3 billion) of cash.

BSkyB (BSYBF), in which 21st Century Fox owns a 39% stake, is buying Sky Italia and Sky Deutschland.

In addition to the cash payment, the U.K. firm will transfer its 21% stake in the National Geographic Channel to Fox.

Just four years ago, Murdoch was hoping to launch a full takeover of BSkyB but dropped the plans after a phone hacking scandal at his newspaper group.

Since then, competition in U.K. TV distribution has intensified. Telecom operator BT (BT) is mounting a challenge in sports -- the backbone of Sky's service -- and Amazon (AMZN, Tech30) and Netflix (NFLX, Tech30) pose a growing threat in streaming movies.

Murdoch now seems more interested in gaining a bigger slice of content production. Just last month, 21st Century Fox made an offer to buy Time Warner Inc (TWX) -- owner of CNN and CNNMoney -- worth about $80 billion at the time.

Related: For size, sports and ego -- why Murdoch wants Time Warner

Time Warner rejected the approach but media analysts believe Murdoch won't give up easily.

Once the European deals close -- and they're both subject to regulatory and shareholder approval -- Sky will be the leading pay TV provider in three of Europe's four biggest markets with potential access to nearly 100 million homes.

Related: The future of media

BSkyB will gain 8.5 million existing customers and expects the merger to generate £200 million ($339 million) in annual cost savings by the end of the year.

The company will issue new shares to help pay for the deal. BSkyB shares fell by more than 4% in London trading.

First Published: July 25, 2014: 7:14 AM ET

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Target sent victims to Experian, which has sold your data to criminals

Target hack victims were directed to Experian for protection. But that company has leaked your data too.

NEW YORK (CNNMoney)

When Target lost data on some 110 million customers, it recommended them to credit bureau Experian for "identity theft protection," offering to cover the cost for a year.

Think you're in better hands? Think again.

Sometime before the Target (TGT) hack, Experian had its own data leak -- via a subsidiary. It unknowingly sold the personal data of millions of Americans -- including Social Security numbers -- to a fraudster in Vietnam. That guy then sold the personal information to identity thieves around the globe.

It wasn't until U.S. Secret Service agents alerted Experian that the company stopped.

That data leak got plugged before Target sent victims to Experian. But it shows that even those entrusted with our most sensitive data don't know how to protect it.

Related story: Why retailers aren't protecting you from hackers

Hieu Minh Ngo, now 25, was caught and admitted to posing as a private investigator in Singapore to get exclusive access to data via Court Ventures, an Experian subsidiary. Ngo then said he sold access to fellow criminals.

Federal investigators say that let criminals reach databases with 200 million Americans' personal data, including:

• names
• addresses
• Social Security numbers
• birthdays
• work history
• driver's license numbers
• email addresses
• banking information

yup

Criminals tapped that database 3.1 million times, investigators said. Surprised you haven't heard this? It's because Experian is staying quiet about it.

It's been more than a year since Experian was notified of the leak. Yet the company still won't say how many Americans were affected. CNNMoney asked Experian to detail the scope of the breach. The company refused.

"As we've said consistently, it is an unfortunate and isolated issue," Experian spokesman Gerry Tschopp said.

Target and Experian insist that the credit monitoring service is unrelated to the incident involving Experian's data-selling business.

But Barry Kouns, a security professional who maintains a database of major data breaches, said Target victims remain at risk -- just in a different way. According to his company's Cyber Risk Analytics database, Experian's databases have been involved in 97 breaches of personal information.

"Based on our research, it appears that data brokers place a high value on collecting and using our information but not so much on protecting it," Kouns said.

First Published: July 25, 2014: 7:29 AM ET

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What it really takes to be a great boss

NEW YORK (CNNMoney)

That's because being one takes a seriously deft touch. You have to inspire people to succeed and give them the tools they need - all while meeting company dictates.

Most of us assess how great a boss is by how he or she manages employees.

But in order to manage employees really well, a leader actually needs to master two other things first, said Harvard Business School Professor Linda Hill, the coauthor of two leadership books, "Being the Boss" and "Collective Genius."

One, Hill said, is to develop self-awareness, to know how others feel when they're with you. Are they scared of you? Do they trust you? Do they feel you trust them?

"It's always about the emotional connection," she said. "Being scared around you doesn't lead to your being respected."

The second is to successfully manage your network of colleagues and bosses over whom you have no authority but whose support you and your team will need to excel.

Think about it this way: Even if your employees love you, they'll become very frustrated if you're powerless to sell their ideas up the food chain.

CNNMoney asked readers to weigh in on what they think characterizes the best bosses. Three traits came up again and again in their comments.

Great leaders, they said:

1) Respect and appreciate their employees

They respect what you do, they respect your expertise and they respect the fact that you may have your own work style.

"Great bosses earn respect by giving respect," said one reader.

Bosses who say "thank you" came up a lot, too, as did bosses who publicly give credit where it's due, who welcome employees' input and feedback, and who recognize that employees are humans, not just "resources," as another reader put it.

2) Create trust and support

An excellent boss trusts you to do your job, has faith in your team, encourages your success, goes to bat for you and is always approachable.

"I would gladly follow [a wonderful boss] to another company if they left because working for them is a great experience. And you want to take on new challenges and risk because you know they have your back," said Colin Adams of Somerville, Mass.

Great bosses are also consistently ethical and fair, and they hire good people, readers said.

3) Give employees the backing and resources to do their jobs

A great boss provides clear guidance, coaching and structure but also the leeway to develop a sense ownership over your work.

And when something goes wrong, readers said, great bosses assess what happened and help you fix the situation rather than assign blame.

"[They'll] allow you to make mistakes and learn from those mistakes without throwing you under the bus," said Jim Langseth of Minnetrista, Minn.

Indeed, in her research, Hill found that people consistently said their best bosses were demanding but also extremely generous in terms of giving them the space to show their talents and giving them the benefit of the doubt when something goes wrong.

First Published: July 24, 2014: 9:34 AM ET

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Dunkin' stock dunked on poor sales

NEW YORK (CNNMoney)

The owner of Dunkin' Donuts said in its latest earnings report Thursday that U.S. sales were weaker than expected and that international consumers weren't enjoying its Baskin-Robbins ice cream as much. Dunkin's Baskin-Robbins joint venture in Japan was hit particularly hard.

The company also played the weather card, blaming "unseasonably cold, rainy start to the spring season," early in the quarter.

Related: McDonald's: People aren't lovin' it anymore

As a result, Dunkin' Brands (DNKN) lowered its sales and profit outlook for the year. The stock plunged more than 5% in early trading. Dunkin's news follows a similarly weak forecast from rival Krispy Kreme (KKD) last month.

Of course, Wall Street can be a tough crowd. Revenue, though lower than analysts forecast, increased 4.6% from the year earlier. Profits were also higher compared to the same period last year.

And many of Dunkin's offerings are loved by consumers. The company reported sales growth in iced coffee, frozen beverages, and espresso. Promotions were also popular, such as when the company rolled out flower shaped donuts for National Donut Day in June.

But Dunkin' faces stiff competition. The breakfast wars are heating up as McDonald's (MCD) and Yum! Brands (YUM)-owned Taco Bell have increased their early morning offerings. And then there's the king of coffee.

Starbucks (SBUX) will report its latest quarterly results after the closing bell Thursday. Wall Street is predicting strong sales and earnings growth.

First Published: July 24, 2014: 9:36 AM ET

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Can the S&P 500 top 2,000?

NEW YORK (CNNMoney)

The Dow Jones industrial average was flat and the Nasdaq moved higher as investors focused on the latest batch of earnings.

Overall, corporate earnings for the second quarter have been strong. Of the 148 members of the S&P 500 that have reported earnings as of Wednesday, 102 have been better than expected, according to S&P Capital IQ.

All-time high for Facebook: Facebook (FB, Tech30) shares soared 7% to a record after posting earnings that blew away expectations.

Qualcomm (QCOM, Tech30)shares plunged due to worries over the company's business in China. Qualcomm is being investigated under China's anti-monopoly law. The tech firm said in its quarterly report that some clients in the country are "not fully complying with their contractual obligations."

AT&T (T, Tech30) slipped after reporting earnings that missed expectations by a penny.

Amazon (AMZN, Tech30) and Pandora (P) will report after the close.

Other notable movers: Caterpillar (CAT) shares fell after the construction equipment maker lowered the mid-point of its 2014 sales outlook, citing weakness in China. 3M (MMM) shares edged higher after the company reported earnings that met analysts' expectations.

General Motors (GM) expects to pay between $400 million and $600 million to compensation victims of its faulty ignition switches, which have been linked to at least 13 deaths. As a result, GM will take a $1.2 billion pre-tax charge. The report comes one day after GM recalled another 718,000 vehicles.

Rival automaker Ford (F) reported a quarterly pre-tax profit of $2.6 billion, including its first profit in Europe in three years. Shares rose 1%.

Dunkin' Donuts (DNKN) shares fell after the company missed sales forecasts, which it blamed on weakness in the U.S. and faltering Japanese sales of Baskin-Robbins ice cream. Under Armor (UA) shares jumped on better-than-expected results.

Related: Fear & Greed Index still shows fear

Shares of United Airlines (UAL) rose after the carrier announced a 51% surge in quarterly net income . The airline also announced a $1 billion share repurchase program.

Starbucks (SBUX) and Visa (V) will report after the close.

Stronger economy: The number of Americans filing first-time claims for unemployment benefits fell to a more than 8-year low, according to the Labor Department's weekly report.

China's factories are motoring again after a dismal start to the year, with a preliminary estimate of manufacturing activity hitting an 18-month high in July.

Related: CNNMoney's Tech30

There was good news from Europe too, with a survey of purchasing managers matching a 3-year high seen in April. European markets were mainly firmer, as were most Asian markets, although Japan's Nikkei slipped.

Political risks lurk: The big risk for Europe's recovery remains an escalation in the dispute with Russia over Ukraine. EU officials are due to present options for much tougher sanctions Thursday, including measures that could restrict Russia's access to European financial markets, as well as arms and energy technology. France's Technip (TKPPY) said sanctions may hurt its profit margins this year.

European markets were higher in afternoon trading. Asian markets ended mixed.

First Published: July 24, 2014: 9:51 AM ET

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Stocks: 6 things to know before the open

LONDON (CNNMoney)

U.S. stock futures were edging higher, suggesting the S&P 500 could test 2,000 points. Here are the six things you need to know before the opening bell rings in New York:

1. Stronger economy: China's factories are motoring again after a dismal start to the year, with a preliminary estimate of manufacturing activity hitting an 18-month high in July.

"This is providing some hope that the Chinese government's mini-stimulus efforts to date have helped offset the impact of the property cycle and economic reforms that may be constraining short term growth," wrote Deutsche Bank analyst Jim Reid, in a market report.

There was good news from Europe too, with a survey of purchasing managers matching a 3-year high seen in April. European markets were mainly firmer, as were most Asian markets, although Japan's Nikkei slipped.

The U.S. government will report weekly jobless claims at 8:30 a.m. ET and new home sales made in June at 10 a.m.

2. Political risks lurk: The big risk for Europe's recovery remains an escalation in the dispute with Russia over Ukraine. EU officials are due to present options for much tougher sanctions Thursday, including measures that could restrict Russia's access to European financial markets, as well as arms and energy technology. France's Technip (TKPPY) said sanctions may hurt its profit margins this year.

Related: Fear & Greed Index,still stymied by fear

3. GM earnings: General Motors (GM) said, in its earnings report, that it expects to pay between $400 million and $600 million to compensation victims of its faulty ignition switches, which have been linked to at least 13 deaths. As a result, GM will take a $1.2 billion pre-tax charge.

The report comes one day after GM recalled another 718,000 vehicles.

Other companies also reported early Wednesday.

Dunkin' Donuts (DNKN) shares fell in premarket trading after the company missed sales forecasts, which Dunkin' blamed on faltering Japanese sales of Baskin-Robbins ice cream.

Ford (F) shares moved higher after the automaker reported a quarterly pre-tax profit of $2.6 billion, including its first profit in Europe in three years.

Shares of United Airlines (UAL) rose 2% after the carrier announced a 51% surge in quarterly net income . The airline also announced a $1 billion share repurchase program.

Starbucks (SBUX) and Visa (V) will report after the close.

4. Tech movers -- Facebook, Qualcomm, AT&T: Facebook (FB, Tech30) shares surged nearly 9% after posting earnings that blew away expectations.

Qualcomm (QCOM, Tech30) shares plunged 5% premarket, with worries over the company's business in China keeping investors on edge. Qualcomm is being investigated under China's anti-monopoly law. The tech firm said in its quarterly report that some clients in the country are "not fully complying with their contractual obligations."

AT&T (T, Tech30) slipped premarket after reporting earnings that missed expectations by a penny.

Amazon (AMZN, Tech30) and Pandora (P) will report after the close.

Related: CNNMoney's Tech30

5. Central bank data breach: The European Central Bank said Thursday its public website had been hacked, leading to the theft of 20,000 email addresses and contact data left by people registering for events at the bank. It said the theft was from a database that was separate to its internal systems and no market sensitive data were compromised.

6. Wednesday market recap: U.S. stocks closed mixed Wednesday. The S&P 500 hit another record high, landing at 1,987. That tops its previous closing record, set on July 3. The Nasdaq also ended higher, but the Dow Jones Industrial Average lost about 27 points.

First Published: July 24, 2014: 5:27 AM ET

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ECB hacked: 20,000 e-mail addresses stolen

LONDON (CNNMoney)

The ECB said no financial information or market data had been stolen, and the database affected was separate from all its internal systems.

The database serves parts of the ECB website that gather registrations for events such as conferences and visits. While most of the data were encrypted, e-mail addresses, some street addresses and phone numbers were not.

Related: Russian hackers placed 'digital bomb' in Nasdaq - report

The database also contains data on downloads from the ECB website in encrypted form.

All passwords have been changed as a precaution, and the ECB is contacting people whose e-mail addresses or other data might have been compromised.

A spokesperson for the ECB, which oversees the financial system across 18 eurozone member states, said the bank was alerted to the hack by an anonymous e-mail late Monday, seeking financial compensation for the data.

It has no idea who was responsible. The cybercrime unit of the Frankfurt police is now investigating.

-- CNN's Sweelin Ong contributed to this article.

First Published: July 24, 2014: 7:19 AM ET

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GM to pay victims $400 million to $600 million

GM record 30 million recalls cost it $1.3 billion in the second quarter, including $400 million it set aside to pay victims of the faulty ignition switch, seen being repaired here.

NEW YORK (CNNMoney)

The families of those killed and people injured in crashes involving the ignition switch can start filing for payments next month.

The problem with the ignition switch can cause the car to shut off while driving, disabling safety features such as air bags, anti-lock brakes and power steering. GM has admitted that its employees knew of the problem a decade before recalling 2.6 million cars earlier this year.

The automaker has been under fire from Congressional, Justice Department and federal safety regulators for the delay and could face criminal charges.

GM (GM) said it set aside $400 million in the second quarter to cover victims' payments. But it said Thursday in its quarterly results that because its compensation program does not have a cap, it might have to pay an additional $200 million in future quarters.

The company also set aside an additional $874 million for the cost of repairing the record 30 million cars it has recalled so far this year. The combined $1.3 billion in reductions once again essentially wiped out the company's profit, leaving it with net income of only $33 million in the quarter.

GM hired Kenneth Feinberg, an expert in victim compensation for disasters such as the 9/11 terrorist attacks and the BP (BP) oil spill in the Gulf of Mexico, to come up with a formula for compensating victims of the flawed ignition system. His formula offers the families of those killed more than $1 million each.

In other earnings news, GM rival Ford Motor reported its first profit in Europe in three years in the quarter along with a record profit for the company in North America. Those results lifted the company's net income despite a slight drop in global vehicle sales and revenue.

Shares of Ford (F) were up in premarket trading on the results.

First Published: July 24, 2014: 8:02 AM ET

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Nothing can ground Delta. Earnings fly

NEW YORK (CNNMoney)

Delta (DAL) reported healthy earnings Wednesday that included a 9% jump in revenue from the year earlier, another sign that after years of consolidation and cost cutting the airline business is continuing to cruise to new highs.

Shares of Delta are already up over 35% this year, an impressive feat considering the headwinds of 2014, which included winter weather, economic uncertainty, and lots of geopolitical risk in Ukraine, Venezuela and the Middle East, which sent oil prices higher.

Related: 'Smart' luggage will text you when it gets lost

Despite all that, people were still flying. Passenger revenue for the airline was the strongest in the U.S., with a 15.7% increase from the same period in 2013. Profit from corporate revenue was especially robust, suggesting that companies are feeling confident enough in the economy to send their employees on the road.

Delta's stock climbed by over 2% in pre-market trading Wednesday.

Another winner in the hunt for profit in the skies is Boeing (BA). The aerospace manufacturer also reported solid quarterly earnings, which it said were driven by a 5% bounce in its commercial airplane business as deliveries pick up.

The company is feeling pretty good about the future as well and raised its earnings outlook for the rest of the year.

Shares of Boeing edged higher in premarket trading as well.

First Published: July 23, 2014: 9:05 AM ET

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