Supervalu gets hacked ... again

NEW YORK (CNNMoney)

The company said on Monday that a hacker installed malware, in either late August or early September, into the part of its computer network that processes card purchases at some of its Shop n' Save, Shopper Food & Pharmacy and Cub Foods stores, as well as liquor stores.

Supervalu (SVU) said it hasn't determined whether any customer data was stolen as a result.

This is the second time the company has been hacked in as many months.

Supervalu said previously that a different "criminal intrusion" occurred on August 14, targeting the part of the computer network that processes card purchases at some liquor stores and grocery stores.

The company believes that its "enhanced protective technology" safeguarded most customers from getting their data ripped off.

But at the time of the hack, the company had yet to install the safeguards at four checkout lanes at four Cub Foods stores in the Minneapolis suburbs of Hastings, Shakopee, Roseville and White Bear Lake.

Supervalu said it hasn't determined whether customers at those checkout lanes had been victimized. It is offering free identity protection services to customers who shopped there.

Cybersecurity: How safe are you?

This is the latest incident in an ongoing trend that started in the holiday shopping season last year.

Hacking has ramped up this year, without about half of all Americans suffering some sort of data breach.

Some of the biggest hacking incidents involved Target (TGT), Michaels (MIK) and Neiman Marcus, where hackers installed malware to access customer information.

Cyber-predators also went after computer systems at Adobe (ADBE), AOL (AOL, Tech30), eBay (EBAY, Tech30) and Snapchat. The restaurant chain P.F. Chang's also said that customer IDs got hacked.

Why Home Depot is not the next Target

Simple tools to avoid getting hacked

First Published: September 30, 2014: 7:50 AM ET

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EBay spinning off PayPal as separate company

PayPal will become a separate company after separating from eBay.

NEW YORK (CNNMoney)

The move, which has long been urged by some Wall Street analysts, was announced Tuesday. It is expected to take place in the second half of 2015.

The news sent shares of eBay (EBAY, Tech30) soaring more than 10% in premarket trading.

"This is the best path for delivering sustainable shareholder value," the company said in its announcement.

EBay also announced a new executive team for both companies, with current CEO John Donahoe and chief financial officer Bob Swan planning to leave the company after the split.

Devin Wenig, currently president of eBay Marketplaces, will become CEO of the new eBay. The company also announced the appointment of Dan Schulman, an executive of American Express (AXP), to be the president of the PayPal unit until the split, and to be CEO of the independent PayPal. PayPal had lost its former chief to Facebook in June.

Earlier this year, activist investor Carl Icahn urged eBay to spin off PayPal, and was ready to put it up for a vote of shareholders. He also was proposing two of his own candidates for the eBay board.

At the time Donahoe urged against a split, arguing that "eBay is a big contributor to PayPal's growth and expansion." He also said the split would be a "distraction" for the companies.

Icahn dropped his proxy fight after eBay agreed to appoint David Dorman, founding partner of venture capital firm Centerview Capital Technology, to the board. Dorman was chairman of Motorola (MSI) when it split into two separate businesses.

Related: Will Apple kill PayPal?

PayPal started out as an independent company. Its founders included Peter Thiel, now a billionaire investor who was subsequently an early backer of Facebook (FB, Tech30) and Elon Musk, who has gone to fame and success as CEO of electric car maker Tesla Motors (TSLA) and private space exploration business Space X.

EBay bought PayPal for $1.5 billion in 2002. In a sector littered with failed big dollar purchases, the eBay purchase of PayPal is widely seen as one of the most successful tech acquisitions ever. Last year, it accounted for about 40% of eBay's total revenue. It facilitates one in every six dollars spent online today, and total payment volume grew 26% in the last six months to $203 billion.

The business could grow even more as consumers start making more mobile online payments. But the company also faces increased competition in that space. Earlier this month, Apple (AAPL, Tech30) announced Apple Pay, a new way to make payments with your iPhone.

First Published: September 30, 2014: 7:24 AM ET

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Wine in a can, a keg, a carton...and it's not bad

NEW YORK (CNNMoney)

Kivelstadt was working on a bottling line in California and one day in 2008, things didn't go well. Bottling is a precise process, one wrong move and production can come to a shattering halt.

"I had a bad bottling day and I sulked back into the winery and kicked the keg we stored some of the wine in. Then I realized: why can't I sell wine in this?"

So he did. And he's not the only one getting innovative: Glass bottles are facing increased competition on wine shelves.

Kivelstadt launched Free Flow Wines in 2009 as a wine-in-a-keg producer and the company has since begun working with more than 200 brands to put their products in kegs to distribute to restaurants. He said there are more than 80,000 of his kegs floating around the country and that the majority of the wines sell for $8-$15 a glass, with a couple climbing to $20.

The argument for keeping wine in a glass bottle is that it helps a wine age properly. However, according to Kevin Zraly, founder of the Windows on the World Wine School, 90% of wine is meant to be consumed within one year. "That means any of those can be put out in vessels outside the glass bottle and still be good wine."

Many of the bottle replacements are more cost effective because they reduce shipping and operational costs for winemakers.

But these alternatives aren't your grandmother's boxed wine. "It's quality...it's not that sweet, sickly, manufactured wine that we saw our grandparents drink," said Gwendolyn Osborn, director of education at Wine.com. "You can find quality red blends that aren't going to give you a headache within five minutes."

"The structural presentation of wine is changing, that's for sure," said Andrew Streeter, a specialist in consumer packaging. He pointed to aluminum cans, pouches, paper bottles, plastic bag-lined boxes and polyethylene terephthalate (PET) bottles as leading contenders for disrupting wine packaging.

Streeter expects wine to become so portable in 10 years that it will be "much more like [carrying] a stick of gum."

Bandit wines, which come in Tetra Pak cartons made mainly from paper and come in 1 liter and 500mL sizes, have been around since 2004 and according to Bob Torkelson, president of Trinchero Family Estates, the brand sells a quarter of a million cases per year.

The Union Wine Co. in Oregon offers 375-mL cans with pinot noir and pinot gris. It's the same wine packaged into the company's bottles, and the suggested retail price is $6 a can or $24 for a four pack. There are around two glasses of wine per can, and the company asks that you "keep your pinkie down" when drinking it.

Demand for more eco-friendly options has also spurred new bottles to hit wine shelves.

Sonoma County-Calif. based Truett-Hurst launched Paperboy and California Square last year. Paperboy's bottle is made from recycled cardboard with a plastic liner and is 85% lighter than a glass bottle, according to its winemaker Virginia Lambirx. It retails for around $12-$14 a bottle. Despite being described as "good- quality wine" by Lambirx she said, "it's not going to appeal to the super wine snobs [because] it doesn't have a cork closure or come in a glass bottle."

Knowing this, the company also introduced California Square, which has the shape of a typical olive oil bottle. It's still made out of glass, but Lambirx said the square shape uses less material to store and ship. The line features a Russian River Valley Chardonnay, Paso Robles Three Red Blend and Paso Robles Cabernet.

When it comes to innovation, Kivelstadt said the wine industry is its own worst enemy. After all, it took nearly 10 years for the industry to accept a screw top.

But Zraly said consumers also have to play a role to embracing innovation. "It's time to take wine off its pedestal; that wine is sacred liquid that can only be consumed by few and involve a big production."

First Published: September 30, 2014: 8:00 AM ET

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Stocks: 5 things to know before the open

LONDON (CNNMoney)

Here are the five things you need to know before the opening bell rings in New York:

1. Protests in Hong Kong: Pro-democracy protests in Hong Kong have rattled investors, pushing the Hang Seng index down by nearly 2%. The index is now at its lowest point since July.

The protesters -- who are facing a forceful crackdown by police -- are calling for free and open elections in the Chinese territory. Beijing wants to screen candidates for the city's top office. Some protesters say they also want to draw attention to rising inequality in one of the world's most expensive cities.

HSBC (HSBC) shares were down about 1.5% in London.

2. Another dip?: U.S. stock futures were broadly negative and a few key companies were dipping lower premarket.

Both Apple (AAPL, Tech30) and Starbucks (SBUX) were among the main decliners ahead of the open. The European Union is reported to be close to revealing the first results of an investigation into both companies' tax affairs, and could force them to repay billions of dollars.

U.S. stocks moved up on Friday, but were still in the red for the week. The Dow, Nasdaq and S&P 500 all fell by between 1% to 1.5% over the week.

Related: Fear & Greed Index

3. Am I dreaming?: Japan's Softbank (SFTBF) is reported to be considering a bid for Dreamworks Animation (DWA), the studio behind 'Shrek' and 'How to Train Your Dragon.' Keep an eye on the shares when they open.

4. Flying high: Shares in Air France-KLM (AFLYY) were rising by about 1.7% in Paris after its pilots returned to work after a lengthy strike. However, negotiations between the airline and the pilots' union will continue over issues related to the airline's plans for a low-cost European air carrier.

Related: CNNMoney's Tech30

5. Economics: The U.S. Bureau of Economic Analysis will report monthly personal income and spending numbers, as well as its price index, at 8:30 a.m. ET.

First Published: September 29, 2014: 5:03 AM ET

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Instagram blocked in China as protests sweep Hong Kong

HONG KONG (CNNMoney)

Users in Hong Kong had been uploading images that showed massive pro-democracy protests, and a forceful response from police that included using tear gas and pepper spray on the crowds.

Talk of the protests had been blocked on other social media in China -- and censors widened their crackdown on Sunday to include the photo-sharing service owned by Facebook.

Instagram had been one of the few non-Chinese social media apps still accessible in the mainland, but observers had long speculated that the app's days were numbered in China.

Photos: Police use tear gas as 'Occupy' comes to Hong Kong

Facebook (FB, Tech30), YouTube and Twitter (TWTR, Tech30) are all blocked in China, and Google (GOOG) has fought a running battle with authorities over censorship for years.

Instagram representatives did not immediately respond for comment, but data from monitoring services blockedinchina.net and GreatFire.org showed the app is blocked.

Related: LinkedIn draws fire for China censorship

Even on Weibo, the Chinese equivalent of Twitter, a search for "Instagram" was not permitted. "In accordance with relevant laws, regulations and policies, search results of 'Instagram' could not be displayed," the service said.

Instagram will remain accessible in Hong Kong, which is beyond the reach of Beijing's censors.

-- CNN's Zhang Dayu contributed reporting.

First Published: September 29, 2014: 3:50 AM ET

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Why everybody is moving to Texas

In towns like Austin, there's lots of new Texans moving in from more expensive markets.

NEW YORK (CNNMoney)

Jobs is the No. 1 reason for population moves, with affordable housing a close second.

"It take two things to draw people inland in big numbers: jobs and housing affordability," said Nela Richardson, chief economist for the real estate broker Redfin.

Texas and other heartland states have two advantages that translate into affordable housing: Plenty of cheap land around cities and easy regulations that enable developers to build quickly.

Related: Best cities for Millennial buyers

Nine of the top 10 fastest growing U.S. metro areas last year were ones where homes were more affordable than the U.S. average, according to Redfin. Many were in Texas, Oklahoma, Utah and other heartland states.

Five Texas cities -- Austin, Houston, San Antonio, Dallas and Fort Worth -- were among the top 20 fastest growing large metro areas.

Some smaller Texas metro areas grew even faster. In oil-rich Odessa, the population grew 3.3% and nearby Midland recorded a 3% gain.

Jobs was the main driver in Austin, where population rose by 2.6% between 2012 and 2013. That's nearly four times faster growth than the United States as a whole.

Jobs are plentiful in Austin, where the unemployment rate is just 4.6%. Moody's Analytics projects job growth to average 4% a year through 2015.

Just as important, many jobs there are well paid: The median income of more than $75,000 is nearly 20% higher than the national median. The median home price is $243,000, higher than the U.S. norm, but a price level that income can support.

Related: Mansions for under $1 million

During the boom years, population actually grew faster in high-priced markets like New York and San Francisco.

Rapid price gains made buyers less concerned about overpaying for homes. Plus, they had banks lining up to lend them money.

Once rapid home price jumps were taken out of the equation, affordable housing markets with strong economies became even more attractive to people looking to relocate.

First Published: September 29, 2014: 8:20 AM ET

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Hello Ello (Peace out, Facebook!)

Ello doesn't require your picture or your name to sign up.

NEW YORK (CNNMoney)

Earlier this month, the social media giant made headlines for suspending the accounts of several gay and transgender entertainers. The rationale? The accounts weren't in the holders' "real" names.

"The more they know about you, the more money they make," said Ello co-founder Paul Budnitz regarding Facebook. "I, quite frankly, don't care."

The platform, which is still in beta, launched just over a month ago with roughly 90 people and is still invite-only. This week, the site has seen an incredible surge in the amount of invite requests. He didn't specify the total number, but said that requests and approvals together often totaled 40,000 an hour.

Budnitz said they didn't expect the site to grow so quickly and are still developing its features. (He acknowledged this could mean a little bit of downtime).

Related: Free startup advice from Silicon Valley's best

According to Budnitz, Ello has "really been embraced by the LBGT community," as well as artists and performers.

Ello wants its users to feel more like people and less like data points. Users are free to be whoever they want so long as they abide by basic rules, like no bestiality or impersonation of public figures, according to Budnitz.

To join, all you need is an invite from a friend and an email address.

"We're not geo-locating, we're stripping IP addresses, we don't ask your name, your gender or sexual orientation. All I care about is that you obey the rules of Ello," said Budnitz, who is one of its seven founders.

About a year ago, they started the platform as a private social network for friends of friends to share their artwork and communicate. Eventually, they had 1,000 friends of friends who wanted in to the network, so they decided to open up the circle.

Related: 6 designers shaking up fashion

They received a $435,000 seed investment from FreshTracks Capital, a Vermont-based VC firm. (Budnitz also lives in Vermont, but other founders are located in Colorado.)

But how does a non-ad supported platform survive once the funding runs dry?

"Isn't it just so sad? Rather than cheering on a new model that actually makes things better, people have to say, 'You can't change things,'" said Budnitz. "Our business model is really simple, and proven. It's like an app store."

By that, Budnitz means they'll upsell users on special features to customize their Ello experience -- and he's confident that he'll be able to monetize the platform this way.

"We literally have thousands of people writing to us with feature suggestions, saying: these are the things I'd pay for."

The top request so far? People wanting to control a professional and personal profile with one log-in. Budnitz says they're likely to roll that out in the future and charge a one-time fee of $2.

First Published: September 26, 2014: 6:43 PM ET

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PayPal now lets shops accept Bitcoin

NEW YORK (CNNMoney)

This week, the payment processing company PayPal took its first venture into the world of all-digital money.

Merchants that work with eBay's (EBAY, Tech30) PayPal can now easily start accepting payments from customers that use Bitcoin (XBT), an independent, government-less currency.

PayPal struck a deal with three Bitcoin payment-processing companies: BitPay, Coinbase and GoCoin.

Related: What is Bitcoin?

Bitcoin is an Internet-based system of money specifically designed to cut out middlemen, like banks and governments. So, it sounds odd to have Bitcoin processors. But they make it easier for everyday, non-tech-savvy businesses to accept bitcoins -- and immediately convert them to cash.

But why take bitcoins -- which have fluctuated in price from $1,100 and $400 in the last year -- instead of proven government money?

The system offers much lower transaction fees, which cost businesses a huge amount of money. The 2%-3% that shops pay in credit card swiping fees can obliterate their profits.

Consider this PayPal's first -- but not last -- foray into the world of Bitcoin. The company has made clear that its interest in Bitcoin runs more than skin deep.

In the last year, eBay's two top executives -- CEO John Donahoe and former president David Marcus -- have expressed interest in Bitcoin's technology.

Related: Here's why Bitcoin matters

PayPal's senior director of corporate strategy, Scott Ellison, told CNNMoney the company is most intrigued by the potential to harness the technology that lies at the heart of the Bitcoin system, a public ledger called a blockchain. It's a totally new way of thinking about transactions. It keeps records that are decentralized and keeps users semi-anonymous while making their transactions public.

"We think Bitcoin has tremendous opportunities going forward," Ellison said. "If you really want to understand how a technology works, you need to actually be in that technological space yourself."

Ellison said the move integrating Bitcoin into PayPal is a continuation of the company's view of itself as "the original payment disruptors."

Jose Pagliery is the author of Bitcoin - And the Future of Money (Triumph Books, Chicago).

First Published: September 26, 2014: 6:15 PM ET

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3 lessons investors can learn from Derek Jeter

NEW YORK (CNNMoney)

As the curtain goes down on the illustrious 20-year career of the New York Yankees shortstop, here are three lessons investors should remember as they navigate the turbulent stock market.

1. Don't swing for the fences: Chicks dig the long ball, but Jeter's career shows there's more to baseball -- and investing -- than just hitting home runs.

The Yankee great is a sure bet to make the Hall of Fame despite the fact that he averaged just 13 home runs a year. In fact, Jeter had just one grand slam in his career.

But Jeter made a pretty solid living by hitting singles and doubles on a very consistent basis.

While it's tough to be as consistent as Jeter, investors should try to mirror his career by avoiding the temptation of trying to find a grand slam stock.

Related: Hot ticket sales for Jeter's last NY game

Speculative stock picking can turn into a big win every now and then, but it can also really backfire.

For example, in late 2011 some courageous investors bought shares of RadioShack (RSH) as it tumbled below $10, a rare event in its history.

Unfortunately for those investors, RadioShack kept crumbling. Today it's barely trading above $1, as the company fights off persistent bankruptcy talk.

Investors who played it safe by betting on the retail industry more broadly fared far better. The S&P Retail ETF (XRT) -- which has never had to deal with a bankruptcy rumor -- has surged 63% since late 2011. Not bad for playing it safe.

Related: Zero Hedge - Wall Street's daily dose of doom

2. Don't panic in the fall: Late September and October can be a stressful time for baseball players and investors alike.

MLB players are dealing with the bright lights of the playoffs, where a single pitch can make or break 162 regular season games. Investors too are grappling with a historically turbulent period that has in the past featured the collapse of Lehman Brothers and the Black Monday crash of 1987.

Jeter thrived under the pressure of the fall, winning five World Series championships and the nickname of "Mr. November" for his stellar performance in the 9/11-extended 2001 postseason.

He succeeded in part by not panicking. That's something investors should remember during times of turbulence -- in the fall or otherwise.

Staying calm would be wise during the current market turbulence, which caused the Dow to plummet 264 points on Thursday amid a selloff led by the tech sector.

More turbulence could be ahead this week as investors get their hands on a wave of economic data, highlighted by key manufacturing numbers and the September jobs report.

Stocks could be headed for a pullback or even their first correction since October 2011, but the S&P 500 is barely 2% away from all-time highs. That's hardly a panic-worthy drop.

Related: There's a 'death cross' in the stock market. Should you worry?

3. Strike a balance: One of the things that made Jeter a great hitter is the fact that defenses and pitchers couldn't rely on one tactic to consistently get him out.

If they pitched him inside, he was strong enough to pull the ball down the line. If they tried to get him out away, he'd drive the ball to the opposite field. That's a much more balanced approach than many sluggers who have predictable swings, no matter how strong.

Investors should try to take a similarly balanced and diversified strategy.

Just because technology stocks like GoPro (GPRO), Tesla (TSLA) and Facebook (FB, Tech30) might get all the hype, doesn't mean they should make up your entire portfolio.

Likewise, investors need to balance out their U.S. stock market holdings with shares of funds that track overseas markets. They also need to have exposure to less the sexy, but more consistent performing, corporate and government bonds.

First Published: September 28, 2014: 8:23 AM ET

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How iPhone apps could impact your insurance

Apple's new Health app in action.

NEW YORK (CNNMoney)

As part of Apple's (AAPL, Tech30) new mobile operating system, developers can build apps that measure things like heart rate, sleep, weight and blood pressure. If users choose to do so, they can then send that information to doctors for medical advice.

Health insurers, which are barred by Obamacare from denying coverage based on pre-existing conditions, can't base their decisions on this kind of information. But the situation is different for life insurers, who use medical records to make decisions about the relative risks of prospective customers.

"If I'm an insurance company, I'd want access to everything, all the data points, so I can make an informed business decision," said Bradley Shear, a lawyer who works on digital privacy issues.

Related: Apple fixes software bug in iPhone 6

Life insurers take all kinds of information into account as they make policy decisions: age, medical history, occupation, and whether you're a smoker, just to name a few. Whether and how health app data might figure into these decisions remains an open question.

"We don't traffic in hypotheticals," said Jack Dolan, a spokesman for the American Council of Life Insurers. "We have to underwrite using reliable information and sound actuarial principles."

But it's not hard to imagine how data like weight and blood pressure could figure into these calculations.

"If you lose a lot of weight in a short period of time, that may be an indication that you've got a health condition," Shear said.

Apple did not respond to requests for comment.

The insurance industry has already found ways of using tracking data in other contexts.

So-called "usage-based insurance," for example, is a fast-growing segment of the auto insurance market. With UBI, drivers agree to install devices from insurers that measure things like location, speed, miles driven and airbag deployment to help calculate rates.

There's also the possibility of health information being sought by plaintiffs in civil cases. Location data from toll tags like E-ZPass, for example, has previously been used in divorce proceedings.

Related: 6 things to love -- and hate -- about the iPhone 6

Of course, none of this means that you shouldn't share digital health information with your doctor, or that the information will be shared without your consent. But it's one more issue to be mindful of as more and more of our lives are tracked online.

"Doctors want this information, patients want this information and we're seeing safeguards put in place to show consumers how and when that information becomes part of your medical record," said Gerard Stegmaier, a privacy expert with the law firm Goodwin Procter. "It's a brave new world where we're going to have to figure things out as we go along."

First Published: September 26, 2014: 6:11 PM ET

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Hello Ello (Peace out, Facebook!)

Ello doesn't require your picture or your name to sign up.

NEW YORK (CNNMoney)

Earlier this month, the social media giant made headlines for suspending the accounts of several gay and transgender entertainers. The rationale? The accounts weren't in the holders' "real" names.

"The more they know about you, the more money they make," said Ello co-founder Paul Budnitz regarding Facebook. "I, quite frankly, don't care."

The platform, which is still in beta, launched just over a month ago with roughly 90 people and is still invite-only. This week, the site has seen an incredible surge in the amount of invite requests. He didn't specify the total number, but said that requests and approvals together often totaled 40,000 an hour.

Budnitz said they didn't expect the site to grow so quickly and are still developing its features. (He acknowledged this could mean a little bit of downtime).

Related: Free startup advice from Silicon Valley's best

According to Budnitz, Ello has "really been embraced by the LBGT community," as well as artists and performers.

Ello wants its users to feel more like people and less like data points. Users are free to be whoever they want so long as they abide by basic rules, like no bestiality or impersonation of public figures, according to Budnitz.

To join, all you need is an invite from a friend and an email address.

"We're not geo-locating, we're stripping IP addresses, we don't ask your name, your gender or sexual orientation. All I care about is that you obey the rules of Ello," said Budnitz, who is one of its seven founders.

About a year ago, they started the platform as a private social network for friends of friends to share their artwork and communicate. Eventually, they had 1,000 friends of friends who wanted in to the network, so they decided to open up the circle.

Related: 6 designers shaking up fashion

They received a $435,000 seed investment from FreshTracks Capital, a Vermont-based VC firm. (Budnitz also lives in Vermont, but other founders are located in Colorado.)

But how does a non-ad supported platform survive once the funding runs dry?

"Isn't it just so sad? Rather than cheering on a new model that actually makes things better, people have to say, 'You can't change things,'" said Budnitz. "Our business model is really simple, and proven. It's like an app store."

By that, Budnitz means they'll upsell users on special features to customize their Ello experience -- and he's confident that he'll be able to monetize the platform this way.

"We literally have thousands of people writing to us with feature suggestions, saying: these are the things I'd pay for."

The top request so far? People wanting to control a professional and personal profile with one log-in. Budnitz says they're likely to roll that out in the future and charge a one-time fee of $2.

First Published: September 26, 2014: 6:43 PM ET

05.32 | 0 komentar | Read More

PayPal now lets shops accept Bitcoin

NEW YORK (CNNMoney)

This week, the payment processing company PayPal took its first venture into the world of all-digital money.

Merchants that work with eBay's (EBAY, Tech30) PayPal can now easily start accepting payments from customers that use Bitcoin (XBT), an independent, government-less currency.

PayPal struck a deal with three Bitcoin payment-processing companies: BitPay, Coinbase and GoCoin.

Related: What is Bitcoin?

Bitcoin is an Internet-based system of money specifically designed to cut out middlemen, like banks and governments. So, it sounds odd to have Bitcoin processors. But they make it easier for everyday, non-tech-savvy businesses to accept bitcoins -- and immediately convert them to cash.

But why take bitcoins -- which have fluctuated in price from $1,100 and $400 in the last year -- instead of proven government money?

The system offers much lower transaction fees, which cost businesses a huge amount of money. The 2%-3% that shops pay in credit card swiping fees can obliterate their profits.

Consider this PayPal's first -- but not last -- foray into the world of Bitcoin. The company has made clear that its interest in Bitcoin runs more than skin deep.

In the last year, eBay's two top executives -- CEO John Donahoe and former president David Marcus -- have expressed interest in Bitcoin's technology.

Related: Here's why Bitcoin matters

PayPal's senior director of corporate strategy, Scott Ellison, told CNNMoney the company is most intrigued by the potential to harness the technology that lies at the heart of the Bitcoin system, a public ledger called a blockchain. It's a totally new way of thinking about transactions. It keeps records that are decentralized and keeps users semi-anonymous while making their transactions public.

"We think Bitcoin has tremendous opportunities going forward," Ellison said. "If you really want to understand how a technology works, you need to actually be in that technological space yourself."

Ellison said the move integrating Bitcoin into PayPal is a continuation of the company's view of itself as "the original payment disruptors."

Jose Pagliery is the author of Bitcoin - And the Future of Money (Triumph Books, Chicago).

First Published: September 26, 2014: 6:15 PM ET

05.32 | 0 komentar | Read More

Return of CrackBerry? Not so fast

NEW YORK (CNNMoney)

Shares of BlackBerry (BBRY, Tech30) were down 3% in volatile premarket trading. The stock, which was pummeled Thursday along with the rest of the tech sector, had surged shortly after the company's results were released Friday morning.

But there was some good news. The Canadian smartphone maker said Friday its cash level rose slightly from its last quarter to $3.1 billion.

That's very encouraging considering that many investors have been worried about whether or not the company would run out of money at some point in the next few years.

And even though BlackBerry reported red ink again, the loss was smaller than what Wall Street analysts expected. The company also said that it shipped 2.4 million phones in the quarter. That was also a pleasant surprise to analysts.

The financial results cap a busy week for the company. BlackBerry just released the new square-shaped Passport phone on Wednesday.

The Passport is being viewed by some as BlackBerry's last chance to remain relevant in the mobile device market.

During a conference call with analysts, BlackBerry CEO John Chen the Passport will be profitable for the company at its price of $599. He added that demand for the Passport was strong on BlackBerry's site and on Amazon (AMZN, Tech30).

Related: A BlackBerry ... designed by Porsche

The company has lost millions of subscribers during the past few years as It struggled to keep up with Apple (AAPL, Tech30) and companies such as Samsung (SSNLF) and LG that sell phones and tablets running on Google's (GOOGL, Tech30) Android. Microsoft (MSFT, Tech30)has also emerged as a tougher competitor.

BlackBerry's core market of corporate customers and governments has been aggressively targeted by Apple, which announced a partnership with IBM (IBM, Tech30) earlier this year. Big Blue will sell customized iPhones and iPads to businesses.

But under Chen, BlackBerry has taken steps to focus more on software. It has ambitious plans to be a big player in the connected devices market, the so-called Internet of Things.

The company's QNX software is already used by several automotive makers to power mapping, entertainment and communication technology in cars.

Investors have applauded Chen's turnaround efforts. The stock has surged more than 30% this year. Chen took over at BlackBerry in November 2013.

BlackBerry also got a boost after Facebook (FB, Tech30) bought messaging service WhatsApp this year for nearly $20 billion.

The purchase reminded many investors and consumers that Blackberry's own BBM messaging platform could be a valuable asset. The company said Friday that it had 91 million monthly active BBM users at the end of the quarter, up from 85 million in the prior quarter.

BlackBerry has even conceded that many of its customers are no longer addicted to a device that they used to refer to fondly as their CrackBerry.

Related: BlackBerry says it's not just about phones anymore

The company recently bought a startup that allows people to set up separate billing for personal and business uses on their smartphone -- and it works for Android and Apple's iOS as well as BlackBerry.

Still, BlackBerry isn't completely giving up on the hardware market. It continues to tout its stellar reputation for security.

After several celebrities had nude photos published online because their Apple iCloud accounts were hacked, several BlackBerry fans gleefully pointed out on Twitter that Jennifer Lawrence and others would not have had this problem if they had BlackBerries instead of iPhones.

But BlackBerry still faces an uphill battle.

Chen said that the company is still in the first half of a recovery effort that could take up to eight quarters. He added that sales may be close to bottoming.

And While Chen did reiterate that he expects the company to break even on a cash flow basis by the end of its current fiscal year, that's not the same thing as a real profit. Analysts still expect the company to report net losses this year and in fiscal 2016.

First Published: September 26, 2014: 7:30 AM ET

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Marc Andreessen: Spendthrift startups will "vaporize"

Marc Andreessen is worried about high burn rates at Silicon Valley startups.

HONG KONG (CNNMoney)

Andreessen has long insisted that Silicon Valley's tech boom is not a bubble, but he is now worried that startups are spending too much cash on flashy offices or excessive numbers of employees.

Andreessen's comments, made on Twitter, make him the latest in a series of investors to warn about high "burn rates" at tech startups. Burn rate measures how quickly a company uses capital.

"When the market turns, and it will turn, we will find out who has been swimming without trunks on: many high burn rate [companies] will VAPORIZE," Andreessen said.

Related: The billionaire Silicon Valley exec with the shiniest toys

Andreessen is not the only worried investor. Bill Gurley, another venture capitalist, told the Wall Street Journal last week that "no one's fearful, everyone's greedy, and it will eventually end." Fred Wilson, a partner at Union Square Ventures, is also sounding the alarm over high burn rates.

Andreessen's 18 tweets on the topic warn that in the event of a downturn, companies will find it much harder to raise cash, merge or be acquired by a larger firm.

When that happens, startups will be forced to adapt quickly, and bloated firms will fail.

"When market turns, M&A mostly stops. Nobody will want to buy your cash-incinerating startup. There will be no Plan B. VAPORIZE," he said.

Related: Have we reached a 'messaging' bubble?

Andreessen said that while some companies with high burn rates will survive, they will be "few and far between."

Andreessen's conclusion? "Worry," he said.

First Published: September 25, 2014: 11:33 PM ET

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Stocks: 4 things to know before the open

Click chart for in-depth premarket data.

LONDON (CNNMoney)

Here are the four things you need to know before the opening bell rings in New York:

1. Calmer waters?: U.S. stock futures were little changed, which may be a welcome sight for investors after stocks fell deep into the red the previous day.

Apple (AAPL, Tech30) and other tech stocks tumbled, driving the Nasdaq down nearly 2%. The S&P 500 fell by 1.6%, and the Dow Jones industrial average lost 264 points.

"Following a strong summer rally, September is proving to be a more difficult month as some of the best performing trades are reversed," said Tom Beevers, CEO at StockViews.

Gold prices were rising and the U.S. dollar was firming. These kinds of moves tend to occur when investors are nervous and looking for safe haven assets.

The latest reading of the CNNMoney Fear & Greed index shows markets are feeling extremely fearful.

Related: Fear & Greed Index

2. Just do it: Shares in Nike (NKE) were surging by about 7% premarket after the company reported a 70% jump in online sales in the past quarter.

Shares in Micron Technology (MU) were also rising -- up by about 5% -- after the firm reported better than expected results.

3. Earnings and economics: BlackBerry (BBRY, Tech30) and the Finish Line (FINL) will report earnings before the opening bell.

The U.S. government will post its third estimate of second quarter GDP at 8:30 a.m. ET. The University of Michigan will publish its consumer sentiment index at 9:55 a.m.

Related: CNNMoney's Tech30

4. International markets overview: Most European and Asian markets were in the red Friday, though the losses weren't dramatic.

Australian markets took the biggest hit, with the ASX All Ordinaries index dropping by 1.2%.

First Published: September 26, 2014: 4:58 AM ET

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India's $74 million Mars mission cost less than 'Gravity' movie

HONG KONG (CNNMoney)

But the mission's shoestring budget was perhaps its most notable distinction: At a cost of just $74 million, India's space agency put the satellite into orbit for a fraction of what other nations have spent.

The U.S. Maven satellite, for example, arrived in orbit on Sunday in a mission that cost taxpayers $671 million. The European Space Agency's 2003 mission to Mars had an initial budget of nearly $200 million.

Prime Minister Narendra Modi has noted that even the Hollywood thriller "Gravity" had a larger budget at $100 million.

"Our scientists have shown the world, a new paradigm of frugal engineering, and the power of Imagination," Modi said in June. "This success of ours has deep historical roots."

While some critics take issue with the government's use of public funds on space exploration instead of social problems, Modi now has yet another space triumph to tout. Only the U.S., Russia and Europe have successfully executed Mars missions; China and Japan have failed.

It's difficult to overstate just how little money the Indian Space Research Organization (ISRO) has to work with. The agency's annual budget for this fiscal year is only $1.2 billion, while NASA has a budget of around $17.5 billion.

Related: Boeing, Space X land NASA contracts

ISRO is able to save money by using short development cycles, and taking advantage of India's cheap labor market. Highly-skilled aerospace engineers in the country might receive a salary of $1,000 per month, a fraction of what the same workers would be paid in Europe or the U.S.

Despite the large disparity in total spending, India actually devotes a similar share of its total budget to its space agency -- around 0.4% --- as the U.S.

The glory days for NASA, however, are long gone. As the space race reached a fever pitch in 1966, the agency was allotted an incredible 4.4% of the U.S. budget, a share that today's explorers can only dream of.

First Published: September 25, 2014: 12:38 AM ET

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Stocks: 4 things to know before the open

Click chart for in-depth premarket data.

LONDON (CNNMoney)

Here are four things you need to know before the opening bell rings in New York:

1. Strong dollar: The U.S. dollar was strengthening versus other global currencies, and gold prices were declining by about 1%.

Simon Smith, an economist at FxPro, said the dollar's strength against other currencies is now at a level "last seen in mid-2010 when the euro was getting hammered in the early stages of the eurozone crisis."

The dollar was 0.4% firmer against the euro, continuing a recent trend driven by growing divergence in monetary policy between the U.S. and the eurozone, where the economy has stalled.

Related: Fear & Greed Index

2. Bad Apple: Shares in Apple (AAPL, Tech30) were showing signs of weakness premarket after the company withdrew its latest software update following widely reported technical problems. Social media is also buzzing over customer reports that the new iPhone 6 Plus is bendable.

Apple's popular products frequently face a backlash soon after their release, but then complaints from die-hard consumers tend to calm down.

Related: CNNMoney's Tech30

3. Mixed signals: U.S. stock futures were barely budging Thursday after posting a solid rebound over the previous session. On Wednesday, the Dow Jones industrial average gained 154 points, the S&P 500 rose 0.8%, and the Nasdaq closed 1% higher.

European stock markets were broadly firmer in early trading, tracking Wall Street's gains and helped by the dollar's strength.

But shares in retail chain H&M (HNNMY) fell by 4% in Sweden after the company warned of weak September sales because of unusually warm weather.

Asian markets ended with mixed results. The Nikkei was a stand-out performer with a 1.3% gain.

4. Earnings and economics: Nike (NKE) will report quarterly earnings after the closing bell.

The U.S. government will report weekly jobless claims at 8:30 a.m. ET.

First Published: September 25, 2014: 4:52 AM ET

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Zero Hedge: Wall Street's daily dose of doom and gloom

Zero Hedge posts are submitted under the pseudonym "Tyler Durden," the fictional character played by Brad Pitt in the 1999 film "Fight Club."

NEW YORK (CNNMoney)

Zero Hedge, a financial blog, offers a deeply conspiratorial, anti-establishment and pessimistic view of the world.

Even though stocks have zoomed to record highs since Zero Hedge launched in 2009, the site continues to hold serious sway among hedge funds, traders and others in finance. That's because Zero Hedge's dark perspective has struck a chord with the sizable portion of the public who remain deeply skeptical of the stock market and economy.

Sometimes the site gets it right before everyone else. Zero Hedge is credited with flagging financial issues like high-frequency trading before they became sexy mainstream stories.

"It's extremely influential in the New York, London and global hedge fund community. I meet clients in London and they mention it, and I meet regulators in Washington and they mention it," said Nicholas Colas, chief market strategist at ConvergEx Group, a brokerage firm.

Zero Hedge's outlook is nicely summed up by the tagline at the top of its website: "On a long enough timeline the survival rate for everyone drops to zero."

If those words sound familiar, it's because they're from "Fight Club," the 1999 film starring Edward Norton and Brad Pitt.

Related: There's a 'death cross' in the stock market. Should you worry?

Who is Tyler Durden? Each post on Zero Hedge is submitted under the pseudonym "Tyler Durden," the fictional "Fight Club" anarchist played by Pitt who blows up the headquarters of credit card companies.

A typical post on Zero Hedge reads like it would fit in the movie script. "The retail investor is not coming back," the blog posted on Monday, due to a "complete lack of trust in a market that has been revealed to be more rigged than any casino."

Related: Billionaires are hoarding more cash

Just like in the movie, it's not entirely clear who Tyler Durden truly is on the blog. Press reports in 2009 suggest at least some of the posts are written by Daniel Ivandjiiski, a former hedge fund employee who was banned by Wall Street's self regulator for insider trading in 2008.

"He is your archetypal brilliant eastern European dude who is great at mathematics and a very rigorous thinker," said Colas, who frequently trades emails with Ivandjiiski and checks Zero Hedge multiple times a day.

"He is the most consistent source of that totally off the grid or novel approach. You can agree or disagree, but I don't think he honestly cares. Every day he makes you think. That's hard as hell to do," said Colas.

Zero Hedge now has 215,000 Twitter followers. No one from the site responded to CNNMoney's requests for comment.

Related: Mohamed El-Erian says to take some money out of stocks

One-stop shop for bears: Zero Hedge enthusiasts find real value in understanding and debating all the scenarios that could bring down the stock market.

"Sure, it's got one view of things. But isn't it nice to get the other side of the rosy, cheery side of every bullish analyst on the Street?" asked Joe Saluzzi, who co-wrote a book on market structure in 2012 titled Broken Markets. "If you were to follow it religiously, then you're crazy. You have to put it into your own investment philosophy."

If some obscure credit instrument sparks another panic on Wall Street, readers of Zero Hedge will likely be familiar with it.

"If you read Zero Hedge consistently you will have every bear case covered. It's a one-stop shop. You will have everything that could go potentially wrong in the economy and geopolitics," said Colas.

The first rule of Zero Hedge: Zero Hedge itself warns readers that making investment decisions based on information posted on the blog -- or any Internet site -- "is more than unwise, it is folly."

It's safe to say that those who did make investment decisions based on Zero Hedge's bearish views missed or all part of a bull market that has carried the S&P 500 200% higher.

"The contra trade mentality has gotten its [butt] handed to it on a platter for years," said Peter Kenny, chief market strategist at The Clearpool Group. "I turned bullish five years ago. I may have missed 12% of the move -- but I didn't miss 120% of the move."

And yet Zero Hedge's loyal audience doesn't appear to be jumping ship as stocks shatter record after record.

"The people who don't like him will say he was wrong. That's factually correct but misses the point. The fact he's still here and relevant is interesting," said Colas.

First Published: September 25, 2014: 7:06 AM ET

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Walmart offering checking accounts

Walmart will start offering checking accounts to customer in October.

NEW YORK (CNNMoney)

The nation's largest retailer is teaming with Green Dot Bank (GDOT) to offer a low-cost checking account on its shelves.

The account, to be branded GoBank, will include a MasterCard debit card and checking. There will be no minimum balance fees, overdraft charges or monthly fees as long as customers have $500 or more placed in the account through direct deposit.

The accounts will be insured by the FDIC, the federal agency that backs deposits in nearly all of the nation's banks.

The account's starter kit costs $2.95 and will be sold at Walmart stores nationwide by the end of October.

Related: Banks launch checking accounts with no checks

Walmart (WMT) has been interested in getting into banking in the past. In July 2005, it applied for a banking license but in the face of strong opposition from established banks, withdrew the application in 2005.

But it has continued to offer some banking services, including money transfers and prepaid debit cards.

The company owns a stake in Green Dot, which gets more than half of its revenue from the prepaid cards it sells through Walmart, according to filings with the SEC.

First Published: September 24, 2014: 7:29 AM ET

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iPhone 6 has car Bluetooth problems

NEW YORK (CNNMoney)

If you can't connect your iPhone 6 to your car via Bluetooth, you're not alone. A bug is keeping many folks from establishing a connection, according to widespread complaints on Apple's online forums.

Some people have set up specialized discussion boards on the subject and others have taken to Twitter to vent their frustration. They say Bluetooth connections are either not working at all, or only partially. Some iPhone 6 owners say they can play music in their cars but not receive or send phone calls.

It doesn't affect everyone, but complaints are flooding in from people who drive Acura, BMW, Honda (HMC), Jeep, Mercedes-Benz, Nissan, Toyota (TM) and Porsche vehicles.

Related: iPhone 6 or 6 Plus? Which should you buy?

Apple (AAPL, Tech30) did not return calls for comment about the problem.

According to one driver, Arfan Akram, Mercedes-Benz customer service suggested to him that the new iPhone 6 cannot connect because it has not yet been synchronized with the car maker's satellite navigation system. Mercedes-Benz did not immediately confirm that is the case.

The problem seems to be confined to the iPhone 6 alone -- not the new iOS 8 software recently pushed out by Apple. Drivers say their updated iPhone 5's and 5S phones work fine, but their iPhone 6's don't.

For example, one San Francisco woman's iPhone 5 and iPhone 5S worked fine with her 2010 Acura, but her iPhone 6 remains stuck in discovery mode and can't find her car -- even if he's inside it. Resetting the phone to factory settings didn't help.

Related: Apple's annual iPhone snafus

Neither does rebooting the phone, according to several others.

But one tactic worked for Karl Tatgenhorst, a tech consultant in Chesterton, Indiana. He changed the registered name of his new iPhone 6 (easy to do in the phone's settings). His 2015 Honda Accord immediately identified his phone and connected.

Bluetooth woes aren't the only problem facing the new iPhone.

The new, larger iPhone 6 Plus is susceptible to bending after a day crammed into a pants pocket, some users have reported on online forums.

And iOS 8 has caused a rise in crashing apps, according to mobile metrics firm Crittercism. Nearly 3.6% of iPhone apps are crashing with iOS 8, nearly double the crash rate of the previous version of iOS.

Problems with iPhone launches are common, and Apple typically works these issues out eventually.

First Published: September 24, 2014: 7:23 AM ET

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American soda goes on a diet

Coca-Cola is going on a diet. Big Soda has vowed to reduce calories.

NEW YORK (CNNMoney)

A consortium formed by the American Beverage Association, Coca-Cola (KO), Dr. Pepper Snapple Group (DPS) and PepsiCo (PEP), has reached an agreement with the Alliance for a Healthier Generation to reduce beverage calories by 20% by 2025.

To accomplish this, the soda industry plans to offer smaller portions of soda and to promote water and other non-calorie or lower- calorie beverages.

Related: Remember Surge soda? It's back

The industry is also planning to launch an education campaign by posting calorie counts and "promote calorie awareness" on 3 million vending machines as well as self-serve fountain dispensers and coolers in stores and restaurants.

Susan Neely, president of the American Beverage Association, called this "the single largest voluntary effort by an industry to help fight obesity."

The Alliance for a Healthier Generation was founded by the American Heart Association and the Clinton Foundation. Former President Bill Clinton said the soda industry consortium "can be a critical step in our ongoing fight against obesity."

Related: Food stamp soda ban can save children from obesity

More than one-third of all U.S. adults are obese, costing the economy nearly $150 billion per year in medical costs, according to the Centers for Disease Control. Obesity can lead to heart disease, stroke, type 2 diabetes and certain types of cancer.

This summer, a study by Stamford University medical researchers showed that banning soda from food stamps would prevent at least 141,000 from getting fat and another 240,000 from getting diabetes.

First Published: September 24, 2014: 7:58 AM ET

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U.S. move on tax-dodging mergers hits drugs stocks

Mylan's purchase of part of Abbott Laboratories' non-US business is one tax 'inversion' deal now in the spotlight.

LONDON (CNNMoney)

The process, known as inversion, has helped fuel a boom in mergers in the sector this year.

New rules announced by the U.S. Treasury department take effect immediately and cover any future tax inversions. They make it harder for companies to complete an inversion in the first place, and to escape tax on foreign earnings they have already made.

Leading the slide was Shire (SHPG), down 6% in London, as the Treasury move raised the risk that AbbVie (ABBV) may call off a planned $55 billion takeover of the U.K.-listed company.

AbbVie announced the agreed merger in July. The combined company would remain headquartered in Chicago but move its legal home to the U.K., halving its effective tax rate to about 13% by 2016.

AbbVie did not respond immediately to a request for comment. Its shares fell by nearly 5% premarket.

Related: 7 companies that keep more than $50 billion offshore

It's not the only U.S. drugs company under pressure. Shares in Mylan (MYL) and Abbott Laboratories (ABT) could also fall when markets open, due to doubts over Mylan's plan to buy a non-U.S. unit of Abbott.

The deal would allow Mylan to incorporate in the Netherlands, another country with a much lower rate of business tax.

Pfizer (PFE) tried to pull off a tax inversion earlier this year by making a bid for AstraZeneca (AZN). The British company put up fierce opposition to a takeover and Pfizer backed away.

Analysts say tougher U.S. tax rules could make a new approach by Pfizer less likely, and shares in AstraZeneca fell 5% in London.

Medical technology maker Smith & Nephew (SNN), another potential takeover target for U.S. companies, slipped 3.5%.

Healthcare has been one of the hottest sectors for mergers and acquisitions this year, driven by low interest rates and swollen corporate treasure chests.

German drug group Merck KGaA (MKGAF) said Tuesday it was buying Sigma-Aldrich (SIAL), based in St Louis, Missouri, for about $17 billion in cash.

First Published: September 23, 2014: 8:16 AM ET

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Jimmy Choo plans London listing

Celebrities and mere mortals alike are known to covet Jimmy Choo shoes.

LONDON (CNNMoney)

The company, which was founded in 1996 by designer Jimmy Choo and former Vogue accessories editor Tamara Mellon, expects to list on the London Stock Exchange in October.

The brand gained international fame for its prominence in films and TV shows, including "Sex and the City" and "The Devil Wears Prada." Jimmy Choo accessories are also frequently flaunted by Hollywood stars on the red carpet.

A pair of Jimmy Choo shoes can cost well over $1,000, and purses are just as expensive.

Related: 6 fashion start-ups to watch

Jimmy Choo reported sales of £282 million ($462 million) in 2013, up 16% from the previous year, though earnings growth was relatively flat.

The company operates about 120 stores around the world, and plans to open 10 to 15 new stores each year. It has its eye on expansion in Asia, where the ranks of the wealthy are growing fast.

Malaysian designer Jimmy Choo co-founded the eponymous luxury retail brand in 1996.

Neither Choo nor Mellon are with the company these days, but Choo's niece -- Sandra Choi -- serves as creative director. She's been involved since its inception.

"Jimmy Choo is a clear success story with strong momentum and I am confident that our future as a public company can only extend our reputation and position in [the luxury] sector," said CEO Pierre Denis.

Related: Forget smartwatches. Solar dresses are the future

Private equity firm JAB Luxury acquired Jimmy Choo in July 2011. It plans to sell at least 25% of the company in the IPO.

JAB also owns high end retail brands Bally, Belstaff and Zagliani.

First Published: September 23, 2014: 7:48 AM ET

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Is the economic recovery real? 3 stats to watch

Workers apply stucco to an under construction at the Toll Brothers Inc. Jupiter Country Club housing development in Jupiter, Florida in August 2014.

NEW YORK (CNNMoney)

There is so much data on the economy now, it is hard to figure out what is most important. Last week alone exemplified the flood of numbers: the Census Bureau, Federal Reserve and Labor Department released a variety of economic data points.

The big news makers -- employment, inflation and gross domestic product -- are always important statistics, but if you really want to know where things are headed, there are a few lesser-known indicators that give a fuller picture of the economy's health.

To make some sense of it all, CNNMoney surveyed numerous economist. According to the experts, keep an eye on these three things.

1. People's spending: Shoppers have a big impact on the economy. Consumption makes up over two-thirds of the America's gross domestic product. The Great Recession made people a lot more cautious about buying things. And when people aren't buying, that also hurts company profits and jobs.

"You can't sustain strong economic growth without the consumer leading the way," said Sal Guatieri, senior economist at BMO Capital Markets in Toronto.

The question is whether buying is back.

The best way to gauge that is the monthly Personal Consumption Expenditures (PCE) index.

Related: Are you a home buying genius?

At the height of the recession in 2009, PCE decreased, and it still is not back to its pre-recession levels.

What most economists -- and businesses -- want to see if steadily increasing spending. But so far in 2014, there have been three months where PCE has dropped, including July. That's worse than 2013 where the PCE increased (or at least remained level) every month.

Bottom line: Not back yet

2. Home buying and building: The housing collapse was at the center of the recession. The slow recovery of the housing market serves as a microcosm of the economy's tepid comeback.

"Home ownership has historically been the single largest trigger to consumer spending," said Diane Swonk, chief economist at Mesirow Financial in Chicago.

People who buy homes tend to buy more of other products than non-buyers, which suggests that home buying can trigger a positive ripple effect on personal spending and jobs, Swonk says.

Economists are watching a data point known as "housing starts."

Single-family housing starts in July numbered 656,000, or about 10% higher than the same time last year, according to the Census Bureau. Still, the number of these housing starts is 50% below a typical level, says Robert Denk, senior economist at the National Association of Home Builders in Washington D.C.

Related: Housing market is a 'crapshoot'

A more normal level of housing starts would be about 1.3 million, the average between 2000 and 2003, Denk says.

"The recovery truly can't be considered complete until housing gets back on track," Denk says. "[Housing] generates jobs and it still really is that sector of the economy that hasn't fully recovered, in fact it's only halfway back."

Bottom line: Not back yet

Related: Private sector jobs are coming back

3. Manufacturing: America might be known for Silicon Valley more than steel these days, but the country still makes a lot of products.

Another indicator that holds implications for the greater economy is the PMI, an acronym for the wonky-sounding Purchasing Managers' Index (that term was actually abandoned in 2001). Created by the Institute for Supply Management, the PMI gauges manufacturing levels across the country, taking several factors into consideration, including employment and inventory levels.

In a positive sign for the recovery, the PMI hit a 12-month high in August at 59%, according to ISM. The average PMI at the recession's peak in 2009 was 46.4%. Thus far in 2014, the PMI has averaged 54.9%, signaling a healthy gain in manufacturing during the recovery.

There are some concerns that the really strong U.S. dollar could hurt manufacturing, since it makes American goods a lot more expensive to people in Europe and other parts of the world, but so far there doesn't seem to be an impact.

Bottom line: Good manufacturing rebound

First Published: September 23, 2014: 8:08 AM ET

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For rich people, mortgages are getting cheaper and easier

NEW YORK (CNNMoney)

Not only are big-pocketed borrowers paying lower average rates on the high dollar value loans known as jumbo mortgages, but lenders are now requiring even smaller down payments -- and, in some cases, they are waiving the mortgage insurance, too.

For months, lenders of jumbo mortgages have been charging interest rates that are lower than what average borrowers pay.

The Mortgage Bankers Association reports that the average rate on jumbo loans -- mortgages of $417,000 or more (or $625,500-plus in high priced markets) -- was 4.24% last week, compared with 4.36% for conventional 30-year, fixed-rate mortgages.

And now some lenders have reduced the required down payments on these loans to as little as 10%, down from 20%, according to Tom Wind, executive vice president of home lending for EverBank.

In some cases, these lenders may not even require jumbo loan borrowers to purchase private mortgage insurance -- a prerequisite for almost anyone who takes out a low down payment loan.

Quiz: How much do you know about mortgages?

Banks have even lowered the credit standards they use to underwrite these jumbo loans, according to John Walsh, owner of lender Total Mortgage Services.

During the past several years, most jumbo borrowers needed at least a 700 credit score to get a loan. But now lenders are giving loans to borrowers with credit scores of as low as 650.

"That was unheard of 12 months ago," said Walsh.

So why are banks cutting these borrowers such a big break?

According to Malcolm Hollensteiner, head of retail lending for TD Bank, banks want jumbo loan customers not so much for the profits the loans generate, but to win new clients for other bank services such as brokerage services or retirement planning.

Keeping jumbo loans on their books is a very "sticky" way to do that, he said.

Related: Mansions for under $1 million

For lenders, giving a loan to someone with a lower credit score, or with less money down, is also a gamble worth taking. Big loan borrowers have better track records when it comes to repaying their loans and they default at a much lower rate, said Wind.

Plus, many of the highest priced housing markets, like San Francisco, Los Angeles, New York and Washington D.C., are going strong. And when home prices are stable or rising in an area, it lowers the risk that a borrower will default.

Even if borrowers stop paying, rising home values mean most or all of the loan balances can be recouped in foreclosure.

First Published: September 21, 2014: 5:02 PM ET

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Stocks: 5 things to know before the open

LONDON (CNNMoney)

Here are the five things you need to know before the opening bell rings in New York:

1. In the red: U.S. stock futures were slipping and most stock markets across Europe and Asia were in negative territory.

This comes after U.S. stocks hit fresh record highs last week.

Market sentiment was buoyed by Alibaba's initial public offering Friday and the Federal Reserve's indication Thursday that it probably won't raise interest rates anytime soon.

The S&P 500 index is up by nearly 9% this year and the Nasdaq has shot up by nearly 10%. The Dow Jones industrial average has advanced by 4.2%.

Related: What will make stocks go even higher?

2. #FloodWallStreet campaign: Hundreds of environmental activists plan to "flood" Wall Street on Monday to protest the role Big Business plays in climate change.

The #FloodWallStreet campaign is part of a series of demonstrations taking place this week as world leaders gather in New York for a climate change summit on Tuesday at the United Nations.

While no specific companies are being targeted, the movement is broadly aimed at "polluters and those profiting from the fossil fuel industry."

Related: Fear & Greed Index

3. Potential market movers -- Sigma-Aldrich, Best Buy, FedEx, Texas Instruments, Yahoo: Expect Sigma-Aldrich (SIAL) shares to surge when trading begins in New York after Germany's Merck (MKGAF) agreed to buy the life sciences group for $17 billion in cash. The price represents a 37% premium to Friday's close.

It's also worth watching shares in Best Buy (BBY) at the open. The stock was rising by about 5% premarket. Analysts at Barclays have reiterated that investors should be "overweight" in the company.

On the other end of the spectrum, shares in FedEx (FDX), Texas Instruments (TXN) and Yahoo (YHOO, Tech30) were all declining premarket.

Related: CNNMoney's Tech30

4. European market movers: Shares in British grocery chain Tesco (TSCDY) plunged by about 8.5% in early London trading after the company said it overstated its latest profits by £250 million ($409 million). The company has brought in independent auditors from Deloitte to review the numbers.

In Germany, shares in Siemens (SIEGY) fell nearly 1% after the firm announced it had agreed to buy New York-listed oil equipment company Dresser-Rand (DRC) for $7.6 billion in cash.

5. Economic announcements: The latest monthly data on existing U.S. home sales will be released Monday at 10 a.m. ET.

This comes on the heels of a new report from the Mortgage Bankers Association showing that it's getting cheaper and easier for rich buyers to get jumbo mortgages.

First Published: September 22, 2014: 5:07 AM ET

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Gen Xers are poorer than their parents

NEW YORK (CNNMoney)

The typical Gen Xer has only $29,100 in wealth, compared to the $65,200 that their parents had socked away at the same age, according to a new report from the Pew Economic Mobility Project. Wealth includes savings, retirement funds, homes and other investments.

"They are on track to be the first in recent history to fall behind previous generations in terms of wealth accumulation, a key indicator of economic security and particularly retirement preparedness," Diana Elliott, research manager, financial security and mobility, at Pew, said of this generation, born between 1965 and 1980. Researchers compared Gen Xers with their own parents.

Only 36% of Gen Xers have exceeded their parents' net worth. That's especially telling since three-quarters of Gen Xers are taking home bigger paychecks than their parents did.

Why are Gen Xers so much poorer? Debt, particularly student loans.

The Molly Ringwald/Kurt Cobain generation have nearly six times the debt levels of their parents, primarily from college. And this debt hampered Gen X's ability to accumulate wealth even two decades after they graduated.

That's not to say college isn't worth it. Degree-holding Gen Xers make $25,000 a year more than their non-educated peers. They also have $26,000 more in home equity and $9,000 more in other wealth, Pew found.

Related: Enough with Millennials. Here's what Gen X thinks

When it comes to mobility, Gen Xers are also a lot less likely to move up the economic ladder ... or fall from their perch. Nearly three-quarters of those raised at the bottom of the income ladder never reach the middle, while nearly 70% of those raised at the top never fall to the middle. That's linked to sharp demographic differences between the ends of income spectrum: Those at the bottom are often single and not college-educated, while those at the top are married with a degree.

Interactive: Are you really middle class?

Gen Xers are also less prepared for retirement, according to an earlier Pew study. They lost 45% of their savings between 2007 and 2010, and only have enough to replace about half of their pre-retirement income.

This lack of savings and wealth have the Pew researchers concerned.

"The findings show that Gen X has bigger hurdles to overcome than previous generations did to achieve financial security," Elliott said.

First Published: September 22, 2014: 7:05 AM ET

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GM recalls 205,000 Cadillacs, Impalas

NEW YORK (CNNMoney)

On Saturday, the automaker announced it was recalling Cadillac XTS and Chevrolet Impalas because of a problem with the electronic parking brake arm in some vehicles.

GM (GM) said it was not aware of any crashes, injuries or fatalities because of the issue.

The affected cars are model year 2013-2014 Cadillac XTS and 2014-2015 Chevrolet Impala sedans. (An additional 16,249 vehicles are being recalled worldwide.)

Related: A decade of guilt over GM crash

It's the latest in a brutal year for the automaker, which has issued more than 65 separate recalls affecting nearly 30 million vehicles.

The largest -- and most tragic -- recall involved a flawed ignition switch in certain small Chevrolet, Pontiac and Saturn cars. The problem went unreported for a decade and has been tied to at least 19 deaths.

GM recalled 2.6 million cars because of the ignition switch problem. It is paying $35 million to the National Highway Traffic Safety Administration for its conduct in that case.

First Published: September 20, 2014: 12:10 PM ET

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The fight against Ebola is grossly underfunded

NEW YORK (CNNMoney)

"Their economies are basically being devastated," said Daniel Epstein, a spokesperson for the World Health Organization. "Economic activity has halted in many areas there. The harvest isn't going on. People can't fly in and fly out."

WHO workers even had difficulty flying into the Ebola-stricken nations of Liberia, Sierra Leone and Guinea, Epstein said.

Related: Ebola patients are buying survivors' blood from the black market

Over 2,600 people have died, according to the latest WHO count. If Ebola is not contained this year, the cost could increase by eight times its current estimate, according to a report published Wednesday by the World Bank Group. Ebola's toll in Liberia alone could affect almost 5% of the country's GDP this year, the World Bank said.

"Our findings make clear that the sooner we get an adequate containment response and decrease the level of fear and uncertainty, the faster we can blunt Ebola's economic impact," said World Bank president Jim Yong Kim in a statement.

Related: History of Ebola outbreaks

In need of aid: The United Nations said this week that $1 billion in aid is needed to contain the Ebola outbreak. But a UN database tally of donations shows that many wealthy Western nations that verbally pledged support have donated paltry sums to fight the disease.

Total donations, including non-binding pledges, to fight Ebola are about $388 million, well under half of the United Nation's estimate, according to data from Financial Tracking Service, a database that tracks humanitarian aid and is managed by the United Nations. The Obama administration announced this week that it hopes to send an additional $500 million in humanitarian aid to the West African nations this fiscal year.

Even with the U.S. government's significant aid proposal, the total number would still fall short of the United Nations' estimate of a billion.

UN Secretary-General Ban Ki-moon went as far as saying "our best estimate is that we need a 20-fold increase in assistance" at a meeting this week.

Related: Despite Ebola, CEOs bullish on parts of Africa

Some private foundations have also stepped in. The Bill and Melinda Gates Foundation has donated over $8 million so far to various organizations to fight Ebola. That is more than the combined donations of Canada, Germany and Spain, according to FTS data.

Overall, the Gates Foundation has pledged $38 million, which eclipses many more countries.

Epstein noted that countries such as Canada contribute to the aid effort in non-monetary ways by sending aid workers and conducting medical research.

"We're also at the stage where people are seeing what the landscape is and figuring out, what's the best way to donate funds?" Epstein said. "In a humanitarian crisis, there are often delays between what people realize what they have to do and what they actually do."

First Published: September 20, 2014: 8:31 AM ET

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What will make stocks go even higher?

Stocks hit fresh records last week and the S&P 500 is up nearly 9% this year.

NEW YORK (CNNMoney)

Stocks hit fresh records last week after the Federal Reserve soothed investors' concerns by indicating that it's probably not going to raise interest rates anytime soon.

With the S&P 500 up nearly 9% this year, traders warning of a market pullback seem wrong, at least for now.

Related: Most loved and hated stocks right now

Here's what needs to happen for stocks to climb even higher:

1. A 'not too hot, not too cold' economy: For stocks to keep going up, the Fed has to cooperate and not hike interest rates before investors expect it to, which right now is the summer of 2015.

The Fed is likely to play along if the economy continues moving at a "not too hot, not too cold" rate, according to Jim Russell, Senior Equities Strategist for U.S. Bank Wealth Management..

"The economic numbers are really coming in right on script," he said.

In Russell's mind, if the economy started to look too weak, investors would start to fret about the prospects for the recovery. On the other hand, if it was looking incredibly robust, there could be some concern that the Fed would need to hike interest rates earlier than most strategists are currently forecasting.

Related: More US families own cats than stocks

2. Real earnings growth: In addition to the Fed, earnings have been the mother's milk of the bull market. Companies are growing their bottom lines, but most of the healthy profits of the past few years have come largely through cost-cutting.

As the overall economic picture gets better, stocks could see a real boost if companies can show that they're actually growing revenue because people are buying more things.

"If the economy continues to improve, I want to see organic top line growth from corporate America," said Robert Landry, a money manager with USAA investments in San Antonio, Texas.

3. Geopolitical stability: Geopolitical risk has been responsible for various market shocks this year, but they have all been short-lived. That trend should continue as long as the these situations don't spin out of control.

The current crises may sound nerve wrecking with the United States getting ready for an extended campaign against ISIS and turmoil between Russia and the West over Ukraine still tense even after the cease-fire. But Landry claims that most times these things blow over quickly as far as the markets are concerned.

"Sometimes there's pretty negative reactions to these events when they occur, but the most typical reaction is that markets tend to rebound fairly quickly," he said.

Related: Why investors remain unfazed by ISIS

What could trigger a market descent? Of course, market drops are never easy to predict, and there are plenty of things that could cause stocks to reverse course.

For one, stock valuations are pretty steep. The S&P 500 is trading at 15.6 times next year's earnings compared to its 10-year price to earnings ratio average of 14.1.

And there's some worry that economic woes in Europe could curtail corporate profits. Russell noted that the market should get a better of idea of what effect Europe is having on business fortunes when companies start to release pre-earnings announcements in the coming weeks.

At the same time, even if stocks were to take a breather, that wouldn't necessarily be a bad thing, according to Landry.

"Pullbacks tend to be healthy, especially when you have some outsize gains within a short period of time," he said.

First Published: September 21, 2014: 7:29 AM ET

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Post-it note eating insider trader pleads guilty

Who's hungry? Insider trader ate his Post-it notes after passing stock tips.

NEW YORK (CNNMoney)

Frank Tamayo, a 41-year-old Brooklyn man, surrendered Friday morning to the Federal Bureau of Investigation and pleaded guilty in Federal Court in New Jersey.

Prosecutors say Tamayo received information about upcoming corporate deals from Steven Metro, the head clerk at a corporate law firm in New York.

Tamayo then handed that information over to Vladimir Eydelman, a stock broker at Oppenheimer (OPY) and Morgan Stanley (MS). Eydelman in turn used it to trade stocks for Tamayo and other customers.

Metro and Eydelman were charged separately in March.

The Securities and Exchange Commission has filed civil charges against all three men.

In an awkward attempt to be stealthy, Tamayo would write a stock ticker on a piece of paper, usually a Post-it note or a napkin, which he would show to Eydelman, indicating that the stock was a buy.

Tamayo would then put the paper in his mouth "and chewed it until it was destroyed," according to prosecutors.

Related: Former SAC manager gets 9 years in prison

The information exchange between Tamayo, a mortgage broker, and Eydelman would take place at locations near his office, including a spot near the clock in New York City's Grand Central Station and a midtown coffee shop.

"Tamayo was the firewall between Metro and Eydelman," said Robert Cohen, an official with the Securities and Exchange Commission. "Metro had the information, Eydelman did the trading, and Tamayo kept them apart."

The scheme started in 2009, when Metro met Tamayo at a bar in New York City and started talking stocks over drinks. According to the SEC, Metro told Tamayo about a $500 million investment Liberty Media planned to make in SiriusXM, which prompted Tamayo to call Eydelman.

Over the next five years, Metro divulged information on at least 13 different deals that his firm, Simpson Thacher & Bartlett LLP, was working on, including mergers and acquisitions.

Related: Five famous insider trading cases

Metro found potential inside tips by searching his firm's data base for keywords such as "merger agreement," "bid letter," "engagement letter," and "due diligence."

Eydelman also took steps to cover his tracks. The stock broker would send emails to Tamayo outlining his thoughts on why he recommended buying a particular stock. By sending emails that seemed part of his job and innocuous, prosecutors said, he hoped to leave a paper trail that created the appearance that the trade was based on legitimate research and not inside information.

Tamayo's attorney did not immediately respond to a request for comment.

First Published: September 19, 2014: 4:06 PM ET

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Friday Links

NEW YORK (CNNMoney)

A weekly collection of design, data and interactive links.

Video
Butter Fingers | Items you might not want to let slip through your fingers
The Sound of COS | Experience the sound of COS in a short film by Lernert & Sander

Music and Design
Generative Videos | Reza Ali's six music videos for OK Go
Party Mode | An audio visualizer powered by d3.js and the web audio API
Thru You Too | Collaborative YouTube music video

Design/Data viz
A Disappearing Planet | Interactive look at extinctions around the world
The Bezier Game | A game to help you master the pen tool
Hue Grant | The internet at its finest

See last week's links

Have a nice weekend!
@dubly and @talyellin

First Published: September 19, 2014: 4:15 PM ET

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The fight against Ebola is grossly underfunded

NEW YORK (CNNMoney)

"Their economies are basically being devastated," said Daniel Epstein, a spokesperson for the World Health Organization. "Economic activity has halted in many areas there. The harvest isn't going on. People can't fly in and fly out."

WHO workers even had difficulty flying into the Ebola-stricken nations of Liberia, Sierra Leone and Guinea, Epstein said.

Related: Ebola patients are buying survivors' blood from the black market

Over 2,600 people have died, according to the latest WHO count. If Ebola is not contained this year, the cost could increase by eight times its current estimate, according to a report published Wednesday by the World Bank Group. Ebola's toll in Liberia alone could affect almost 5% of the country's GDP this year, the World Bank said.

"Our findings make clear that the sooner we get an adequate containment response and decrease the level of fear and uncertainty, the faster we can blunt Ebola's economic impact," said WBG president Jim Yong Kim in a statement.

Related: History of Ebola outbreaks

In need of aid: The United Nations said this week that $1 billion in aid is needed to contain the Ebola outbreak. But a UN database tally of donations shows that many wealthy Western nations that verbally pledged support have donated paltry sums to fight the disease.

Total donations, including non-binding pledges, to fight Ebola are about $388 million, well under half of the United Nation's estimate, according to data from Financial Tracking Service, a database that tracks humanitarian aid and is managed by the United Nations. The Obama administration announced this week that it hopes to send an additional $500 million in humanitarian aid to the West African nations this fiscal year.

Even with the U.S. government's significant aid proposal, the total number would still fall short of the United Nations' estimate of a billion.

UN Secretary-General Ban Ki-moon went as far as saying "our best estimate is that we need a 20-fold increase in assistance" at a meeting this week.

Related: Despite Ebola, CEOs bullish on parts of Africa

Some private foundations have also stepped in. The Bill and Melinda Gates Foundation has donated over $8 million so far to various organizations to fight Ebola. That is more than the combined donations of Canada, Germany and Spain, according to FTS data.

Overall, the Gates Foundation has pledged $38 million, which eclipses many more countries.

Epstein noted that countries such as Canada contribute to the aid effort in non-monetary ways by sending aid workers and conducting medical research.

"We're also at the stage where people are seeing what the landscape is and figuring out, what's the best way to donate funds?" Epstein said. "In a humanitarian crisis, there are often delays between what people realize what they have to do and what they actually do."

First Published: September 20, 2014: 8:31 AM ET

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Spending cuts to education and nutrition will hurt kids

As federal spending on the elderly and interest on the debt is set to grow, spending on children will decline in most areas, including for K-12 education and nutrition, a new report from the Urban Institute found.

NEW YORK (CNNMoney)

A new report Thursday found that only 2% of the projected increase in federal spending over the next decade will be dedicated to programs benefiting children.

That works out to $26 billion out of $1.4 trillion.

And that $26 billion will go toward children's health spending, particularly in Medicaid, according to the report, published by the Urban Institute, a public policy think tank.

Meanwhile, spending on most other child-centric categories -- such as education and nutrition -- will fall.

Spending on K-12 education, for instance, will decline from $43 billion in 2013 to $38 billion in 2024. That's due in large part to the forced budget cuts known as the sequester.

Nutrition programs will also see a drop -- from $62 billion in 2013 to $56 billion in 2024.

If not kids, who? So where's the vast bulk of that $1.4 trillion spending increase going instead? Primarily to Medicare, Medicaid and Social Security as well as interest on the debt.

In fact, starting in 2017, Washington will spend more money on interest than on children, the report said.

"Without changes to current law ... we risk not only the well-being of our children, but the well-being of the nation," the report's authors said.

Over the past 50 years, federal money spent on the elderly has been considerably higher than that spent on children.

This despite the fact that the elderly have always made up a smaller share of the population than kids.

In 1960, for instance, Washington spent $4,000 per senior versus $270 per child. By 2011, it was $27,975 per senior versus $4,894 per child.

One explanation might be that seniors need more health care, which is expensive.

But Julia Isaacs, a lead author for the Urban Institute report, said that when you exclude health spending for both elders and children, the gap in spending between the generations is still large.

State funding narrows the gap: It does narrow considerably, though, when state and local spending are factored in since they skew more heavily to children, particularly through public school spending.

With federal, state and local spending combined, money spent per senior ($28,754) was only a little more than twice that spent per child ($12,770) in 2011, the report found.

First Published: September 19, 2014: 6:34 AM ET

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VA hikes top pay for doctors by $20,000 to $35,000

Bob McDonald, the new VA secretary, spoke on Capitol Hill this week.

NEW YORK (CNNMoney)

The maximum pay for new physicians and dentists will be bumped by between $20,000 and $35,000, the scandal-plagued agency announced this week.

That's a significant boost for new hires, who may look at the rigid government pay scales and see less room for growth than in private practice.

Many doctors, like primary care physicians, hired into the VA will still start at $98,967 per year. But their new ceiling will be $215,000, instead of $195,000.

Many anesthesiology positions, among the higher-paid of the 40-plus specialties on the VA payroll, are currently capped at $295,000, but will be eligible for up to $325,000.

The changes do not apply to the department's current doctors and dentists, nor to other VA health care professionals, like nurses and nurse practitioners.

Related: 15 executives with $1 salaries

It's one of the first signs of the new Veterans Affairs secretary's $5 billion effort to recruit new talent and improve infrastructure.

After only about a month on the job, Bob McDonald said last week the department needs "tens of thousands of new doctors, new nurses, new clinicians."

McDonald, the former CEO of Procter & Gamble (PG), has visited medical schools and argued publicly that the VA is a good place to work.

Freezes on VA salary increases and bonuses have kept pay from growing. Many hospitals don't have the latest equipment and are located in less-desirable cities and towns.

And the department's reputation was hurt this year from the revelation of secret waiting lists and excessively long wait times.

Related: Stressful jobs that pay badly

The agency based the increases on several salary surveys, which generally showed VA doctors earning less than professors and those in private practice. The average VA primary care physician earns just shy of $178,000 annually, while the surveys found average salaries ranging between $194,000 and $256,000.

The new rates must go through a 60-day public comment period and will take effect on November 30, said VA spokeswoman Linda West.

Related: Colleges with the highest-paid grads

First Published: September 19, 2014: 8:08 AM ET

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