Market participants were concerned an additional second Tuesday would cause havoc, but it passed relatively smoothly. Some exchanges avoided the leap second, set at midnight Greenwich Mean Time, by opening late or closing early. Others, including exchanges in Japan and Australia, traded through the extra second and saw few issues.
Insufficient government debt due to massive bond buying by the European Central Bank and the Bank of Japan might hobble efforts by the Federal Reserve to raise long-term rates. The Fed could start raising short-term rates this year, with long-term Treasury yields also moving up.
Struggling companies often hire an outsider as CEO, but the track record of hiring based on reputation is not good. Worse, the need to bring in an outsider, even a successful one, "is the result of a critical failure to nurture and develop new leaders within one's own organization," Noel Tichy writes.
U.S. companies added 223,000 jobs to nonfarm payrolls last month, and the unemployment rate dropped to 5.3% from 5.5%, Labor Department data show. Professional and business services, retail and health care sectors posted some of the largest employment gains.
Despite one survey that says most chief information officers want to hire chief data officers, there are indications the position might be on the decline. Rather than hiring dedicated data chiefs, companies might choose to combine their duties with those of other executives. Still, having a chief data officer can be valuable, particularly as the Internet of Things continues to emerge and unstructured data become more common.
Many Internet-enabled devices that people increasingly depend on might be vulnerable to attack. Weak spots have been found in all sorts of devices, which might suffer from vulnerabilities such as default passwords and exposed ports. Vendors might not be adequately vetting security features in devices, and the potential for damage is exacerbated if one device is widely used in a particular area.
Mobile applications can be valuable for busy CPAs, especially when the apps are free. Greg LaFollette, CPA/CITP, CGMA, reviews two options: Coinbase, which stores and sends bitcoin, and IRS2Go, which tracks tax refunds. Both are available for Apple iOS and Google Android.
Reports of countries spying on one another and hackers accessing retailers' data are not rare. But a recent breach of the Houston Astros baseball team could be a wake-up call about the potential for industrial cyberespionage. It's also a reminder about a need to create strong passwords that contain numbers and symbols and to avoid using the same password for multiple accounts.
Robo-advisers are here to stay, but clients like to talk to human advisers as well, HighTower CEO Elliot Weissbluth writes. The "robo disruption" might make life hard for below-average advisers, but sophisticated advisers who embrace technology will succeed. Meanwhile, startups will continue to battle established companies to see which robo-advisers come out on top.