Google may now have to monitor some of its content and provide greater privacy to European citizens. Keurig Green Mountain shares jumped today as Coca-Cola increased its ownership. Citizens Financial Group filed for an IPO as British regulators focus on its parent, RBS. Retail sales were flat in April. Researchers may have found Columbus' Santa Maria in a shipwreck off of Haiti.
Google loses landmark case over data privacy in Europe
The Financial Times reports that Google has lost a landmark case over the limits of data privacy in Europe, requiring it to remove personal information appearing on its search engine under certain circumstances. The lawsuit was determining whether Google is simply hosting content or actually controlling personal data that is responsible for the results and information presented to users. The court found that Google is responsible for the material processed on its servers and it must respond to legitimate demands from individuals to delete certain private information that could be harmful. The European courts have findings that imply a European citizen has the “right to be forgotten” on the Internet. The ruling is said to be a “game-changer” for not only Google but also other companies such as Yahoo and Microsoft.
Retail sales flat in April, imports drop
Bloomberg reports that American consumers took a respite from shopping during April causing retail sales to increase only 0.1 percent instead of the 0.4 percent forecast by economists. The April flat-line followed a 1.5 percent increase in March that was the biggest since March 2010. Economists believe, however, that a pickup in hiring, rising home values and higher retail sales from retailers such as the Gap, indicate that the economy is poised to resume growth. Another leading indicator showed that cost of goods imported into the US dropped 0.4 percent in April, the first decrease since November. Eight of thirteen major retail categories showed gains last month, led by clothing stores and sporting-goods outlets. The late Easter holiday boosted demand for apparel with sales increasing 1.2 percent, the most since October. General merchandise outlets also showed a 1.8 percent jump, the biggest since January 2013.
Keurig Green Mountain shares jump
Coca-Cola has raised its stake in Keurig Green Mountain to 16 percent from 10 percent, making it the largest shareholder of the maker of the popular Keurig one-cup coffee brewer. CNBC indicates that shares of Keurig jumped more than 5 percent in pre-market trading based on the news. Coca-Cola has promised to help launch the company’s new cold drink machine. Coke had the option to raise its stake in Keurig through open market purchases. It now owns about 26 million shares of Keurig, up from 16.7 million as of February 27.
Citizens Financial Group files for IPO from RBS
Citizens Financial Group Inc. filed for an initial public offering because its parent, Royal Bank of Scotland PLC, faces continuing pressure from UK regulators to increase capital and focus on British operations. According to the Wall Street Journal, Citizens is on of the largest regional banks in the US, with $122.2 billion in assets, 18,600 employees and 1,370 branches across New England, the Mid-Atlantic and Midwest. In January, RBS announced it was selling about 100 of Citizen’s Chicago-area branches to US Bancorp. The Providence, Rhode Island based company said it plans to raise up to $100 million in the offering.
Researchers may have found Columbus’ Santa Maria
Researchers believe that they have identified the wreck of Christopher Columbus’ Santa Maria more than 520 years after it ran aground off the northern coast of Haiti. Fox News reports that the wreck had been discovered and photographed in 2003 but it is not until recently that researchers have considered the possibility that it might be the largest of the three ships Columbus sailed from Spain in 1492. The evidence of the discovery mirrors the location of that described in Columbus’ diary. The shipwreck occurred on Christmas Day 1492. The hope is that the ship can be recovered, conserved and placed on display in a Haitian museum.
Catherine S. McBreen is President of Millionaire Corner. McBreen plans and develops content for Millionaire Corner. Catherine balances editorial content to meet the informational needs of both new and seasoned investors. She designs special monthly surveys on topical issues affecting the economic environment.
McBreen has a B.S. in speech communications from Northwestern University and a J.D. from DePail University College of Law. She is a member of the American Bar Association, the Illinois Bar Association, and the Chicago Bar Association.
Well-known for her expertise in the affluent and retirement arenas, McBreen is a frequent speaker at industry conferences. She has been quoted widely by the financial media, including The Financial Times, The Wall Street Journal, Research, Private Asset Management, On Wall Street, Reuters, Bloomberg News, The Dow Jones Newswires and Worth. Cathy has appeared as a guest on CNBC Closing Bell, First Business Morning News, Neal Cavuto at Fox Business News, ABC and CBS radio.
McBreen is co-author with Spectrem President George H. Walper, Jr. of the book "Get Rich, Stay Rich, Pass It On: The Wealth-Accumulation Secrets of America's Richest Families" (Portfolio, January 2008)
Catherine is the mother of four and is involved in many school and community events.