Business news briefs Jan. 5: Scope of Marriott data breach narrows - Akron Beacon Journal

HOTELS

Marriott says data breach

smaller than first feared

Fewer Marriott guest records than previously feared were compromised in a massive data breach, but the largest hotel chain in the world confirmed Friday that about 5.25 million unencrypted passport numbers were accessed.

The compromise of those passport numbers has raised alarms among security experts because of their value to state intelligence agencies.

The FBI is leading the investigation of the data theft and investigators suspect the hackers were working on behalf of the Chinese Ministry of State Security, the rough equivalent of the CIA.

The hackers accessed about 20.3 million encrypted passport numbers. There is no evidence that they were able to use the master encryption key required to gain access to that data.

WALL STREET

Stocks erase big declines

with another wild swing

Global stocks soared Friday and reversed the big losses they suffered just a day earlier. The Dow Jones Industrial Average rallied 746 points in the latest twist in a wild three months for markets.

The S&P 500 index rocketed 84.05 points, or 3.4 percent, to 2,531.94. The Dow Jones Industrial Average gained 746.94 points, or 3.3 percent, to 23,433.16. The Nasdaq composite rallied 275.35 points, or 4.3 percent, to 6,738.86. The Russell 2000 index of smaller-company stocks leaped 49.92 points, or 3.8 percent, to 1,380.75.

AUTOS

953,000 Ford vehicles

recalled over air bags

Ford is recalling more than 953,000 vehicles worldwide to replace Takata passenger air bag inflators that can explode and hurl shrapnel.

The move includes over 782,000 vehicles in the U.S. and is part of the largest series of recalls in U.S. history.

Included are the 2010 Ford Edge and Lincoln MKX, the 2010 and 2011 Ford Ranger, the 2010 to 2012 Ford Fusion and Lincoln MKZ, the 2010 and 2011 Mercury Milan, and the 2010 to 2014 Ford Mustang.

GM surpasses sales mark

for electric vehicle credits

Customers have until the end of March to buy a Chevrolet Bolt electric vehicle and some other EV models to receive a full tax credit.

That's because General Motors has surpassed 200,000 cumulative electric vehicle sales, the ceiling set per manufacturer by the federal government to offer buyers a $7,500 tax rebate. A GM spokesman confirmed that the company hit 200,000 EV sales in the fourth quarter. By law, in April, the rebate drops to $3,750. That will be sliced in half again in October and the buyer-rebate will be eliminated in April 2020.

The rebate is a reduction to a buyer's tax liability, it is not an incentive that comes off the sticker price. The government created the incentive to help offset the higher price of an electric vehicle compared with a gasoline-powered vehicle.

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