Daily News 9/19/14

September 19, 2014

Friday – September 19

Headlines out of Europe today saw that the Scottish people voting no on independence, remaining under the rule of the United Kingdom, which it has been under for 307 years. The no vote put to rest the mechanics of which currency Scotland would use if the vote was yes. The news pushed global Stock markets a bit higher.

The credit card breach at Home Depot just recently has taken a turn for the worse this week. The security breach has now reached 56 million credit and debit cards, much worse than the breach at Target last year. The recent breaches signal that large retailers are particularly vulnerable to cyber-attacks. Home Depot currently says that the breach is costing the company $62 million, which could grow larger by the end of the year.

In what could be largest Initial Public Offering (IPO) in the U.S. and the biggest IPO ever, today Chinese e-commerce firm Alibaba will debut its shares on the New York Stock Exchange under the ticker symbol, BABA. The shares were priced at $68 last night, with indications that the first trade could be in the mid-$80 range. The price of $68 raised $21.8 billion, the largest sum for a company listed on a U.S. exchange and values the company at $168 billion, larger than Walt Disney and Coca Cola.