Summary of business headlines: 1.3 million Sega customers impacted by hack; Supreme court backs Wal-Mart in sex-bias case; Wall Street rallies, but Europe down on Greek debt concerns.
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Sega is the latest corporation to suffer a data breach. The Japanese video game company confirms information for 1.3 million of its customers was stolen from its database. Names, birth dates, email addresses, and even encrypted passwords for Sega Pass online network were taken, but credit card numbers were not.
The service has been shut since June 16 and the company is unsure when it will be back up again. Other companies recently hacked: Sony and Citigroup.
In other corporate news, the Supreme Court has ruled in Wal-Mart’s favor in the largest ever sex-discrimination lawsuit. The High Court overturned a lower court ruling that gave class-action status for female employees seeking billions of dollars. The women accuse Wal-Mart of paying women less and giving fewer promotions to females.
On Wall Street, with no economic data to trade on investors turned to technicals after the Dow snapped a six-week losing streak last week. Markets finished higher on the day.
Euro zone finance ministers ended talks in Luxembourg after warning Greece to approve an austerity package or say bye-bye to the next installment of the $155 billion bailout.
Meanwhile, Greek Prime Minister George Papandreou was in Brussels making his case to the EU Council.
“I’d like to say that we are determined as a country and as a government to be on track with the program, to move forward, to do what is necessary in order to put our country into a fiscally much better, viable position.”
Papandreou, however, did little to soothe concerns of a possible debt restructuring. European markets finished lower across the board.