The Securities and Exchange Commission has backed a proposal to require top executives to return performance-based bonuses and other incentives if financial results are restated because of errors. The clawback rule is subject to public comment and a second vote before taking effect. The plan aims to implement the Dodd-Frank Act's "objective to recover funds that should not have been paid out in the first place," SEC member Kara Stein said.
The Executive Office of the President has missed important cybersecurity reporting deadlines for three years, say the heads of two Senate committees that oversee cybersecurity compliance. In a letter to the president detailing their concerns, Sens. John Thune, R-S.D., and Ron Johnson, R-Wis., write that the White House last supplied a cybersecurity compliance report to the Office of Management and Budget in fiscal 2008.
To get a loan from Credito Emiliano, an Italian regional bank, small-business owners must put up wheels of Parmigiano-Reggiano as collateral. The cheese is stored in climate-controlled, bank-owned warehouses capable of holding 440,000 80-pound wheels of cheese, as part of a program intended to help dairy farmers who need capital during the cheese's maturation period.
Cyberinsurance is a new market established to provide coverage for businesses -- including contracting firms -- at risk of cybersecurity breaches. In the event of a cybersecurity issue, losses can include payouts to third parties harmed by the disclosure of personal information, as well as the costs associated with following regulations such as notices to possibly affected parties. Although such losses may be covered by general liability, excess or even crime policies, a specific policy may be required in case existing policies don't cover them, three attorneys write.
An exhibit at the Boston's Museum of Science offers a glimpse into what it's like to work for Pixar, Ilan Mochari writes. The company begins the animation process with brainstorming sessions where employees are invited to pitch characters.
The U.S. economy added 223,000 jobs in June and the unemployment rate decreased to 5.3%, the Bureau of Labor Statistics says. "We're seeing companies put money into the back office. They want to hire for permanent positions in areas like marketing, human resources and accounting," said LaSalle Network CEO Tom Gimbel.
Developers in Chicago are building more downtown residential units with three and four bedrooms, and that's encouraging more families to wait longer before moving to the suburbs, says Colin Hebson, real estate agent with Dream Town Realty. Downtown homes are more affordable in Chicago than in other large U.S. cities such as New York and Washington, D.C.
The Supreme Court may have legalized same-sex marriage, but discrimination against gay people by employers and businesses remains legal and largely unrestricted in 31 states. That's despite polling suggesting that more than 75% of people believe such discrimination should be illegal.
Hillary Clinton raised an average of more than $500,000 per day during her campaign's first quarter, for a total of $45 million -- expected to be the largest amount ever raised by a primary candidate during the first quarter. Some 91% of those donations were in amounts of $100 or less, an indicator of the campaign's long-term fundraising potential, according to reports.
Donald Trump's politically incorrect pronouncements about the criminality of Mexican immigrants have propelled him to second place in Republican primary polling -- and Democrats couldn't be happier. Trump's ascendancy could make it harder for other GOP candidates to win over minority voters, analysts say. "I am a person of faith -- and the Donald's entry into this race can only be attributed to the fact that the good Lord is a Democrat with a sense of humor," says Democratic strategist Paul Begala.