Microsoft manager, friend accused of insider trading

Bloomberg: A former Microsoft Corp. executive and his friend made insider trades before company announcements, using disposable "burner phones" and stacks of cash to secretly reap more than $393,000, U.S. investigators said. Brian Jorgenson, a manager in Microsoft's corporate finance and investments division, tipped off Sean Stokke, a friend who allegedly traded on the information, the U.S. attorney's office in Seattle said yesterday in a criminal complaint charging them with insider trading. The scheme ran from April 2012 through October of this year, prosecutors said.

 

Spain fines Google for breaking data law

CNNMoney:  Spain has ordered Google Inc. to pay a fine of 900,000 euros ($1.23 million) over privacy violations. The Spanish government's data protection agency accused Google of three breaches of a national law protecting personal data. The company didn't give users enough information about what data was collected, and how it would be used, according to a government statement. "Google unlawfully collects and processes personal information," the agency said.

 

Target cyberbreach hits 40 million payment cards at holiday peak

Reuters: Target Corp said hackers have stolen data from up to 40 million credit and debit cards of shoppers who visited its stores during the first three weeks of the holiday season in the second-largest such breach reported by a U.S. retailer. The hackers worked at unprecedented speed, carrying out their operation from the day before Thanksgiving to this past Sunday, 19 days that are the heart of the crucial Christmas holiday sales season.