Author: Money Mechanics

LG Uplus, one of the largest telecom operators in South Korea, has confirmed to TechCrunch that it has reported a suspected data breach to Korea’s national cybersecurity watchdog KISA, but did not say when the results of its investigation would be available. All three major South Korean telecom providers, SK Telecom, KT Telecom, and now LG Uplus, have reported cybersecurity incidents over the past six months, pending confirmation from the Korean government. South Korea’s Ministry of Science and ICT told TechCrunch that its investigation into KT and LG Uplus, launched last month, is still ongoing, amid a report that the…

Key Takeaways PayPal’s stock took off after the payment processor announced it was partnering with OpenAI on facilitating transactions within ChatGPT.Meanwhile, PayPal reported better third-quarter results than expected and increased its outlook for the fiscal year. PayPal shares shot higher Tuesday after the company announced a partnership with ChatGPT operator OpenAI and released strong third-quarter results. PayPal Holdings (PYPL) will extend its services to ChatGPT users, bringing the number of AI chat operators it’s helping handle e-commerce transactions to at least three. Those shopping via ChatGPT will be able to tap into PayPal’s consumer protection service, while merchants will be…

Key Takeaways Inflation, measured by the consumer price index (CPI) that older Americans actually face, has often been higher than Social Security’s annual cost of living adjustment (COLA). This is creating a gap, which stems from the inflation measure the feds use, that erodes purchasing power. Those on Social Security will be getting bigger checks this January—2.8% bigger. But groceries, medicine, and housing might be rising faster for older adults, about 3.1%, according to the inflation measure favored by many experts. That mismatch is perhaps why only 22% of Americans 50+ told AARP the cost of living adjustment (COLA) would be…

Key Takeaways Warren Buffett has pointed out that book value can significantly misstate the intrinsic value of a business. He prefers using intrinsic value, “the discounted value of the cash that can be taken out of a business during its remaining life.” Buffett goes so far as to say, “In all cases, what is clear is that book value is meaningless as an indicator of intrinsic value.” Warren Buffett has repeatedly reminded investors that book value is often a poor measure of a business. The calculation itself is simple: take the total assets minus liabilities. But book value, Buffett says,…

Key Takeaways Weekly prediction market trading volume hit a record high of over $2 billion last week, according to research platform Dune.This month alone, two of the largest events contracts operators were eying valuations above $10 billion. Digital prediction markets are drawing in throngs of users—and investors. The markets have become increasingly popular, sparking a rush of new and rumored capital into them. Just this month, New York Stock Exchange parent Intercontinental Exchange (ICE) announced a $2 billion investment in Polymarket, recently said to be in discussions to raise money at a valuation as high as $15 billion. (Polymarket did…

Key Takeaways Warren Buffett’s success comes from sticking to a simple investing strategy: buy and hold investments you understand.Patience and emotional discipline are important when investing like Buffett.Buffett doesn’t believe in chasing the hype and often advises investors to keep things simple with low-cost index funds. Warren Buffett is one of the most trusted voices in investing for good reason. Nicknamed the “Oracle of Omaha,” he’s built incredible wealth by sticking to a straightforward, value-investing approach. He doesn’t chase fads or overcomplicate things. Rather, his success comes from keeping it simple and investing with a buy-and-hold path. The good news…

Key Takeaways Shares of Amazon, which reports quarterly results after markets close on Thursday, are expected to move 6% in either direction by the end of the week.Amazon is contending with increased tariff costs and wary consumers, while it makes massive investments in cloud computing infrastructure to meet AI demand.The stock is up about 5% since the start of the year, making it the worst-performing member of the Magnificent Seven. Amazon (AMZN) is slated to report third-quarter earnings after the closing bell on Thursday, and some traders are betting the results can give the stock, the laggard of the Magnificent…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is professor of global history at the University of OxfordWhen US President Donald Trump recently called off a proposed meeting with Vladimir Putin in Budapest, he did so because he feared it would be “a waste of time”. Showing his frustration, Trump said that “every time I speak with Vladimir, I have good conversations, and then they don’t go anywhere”.Trump only needed to think back to his meeting with the Russian leader in August to remember how difficult it is…

Key Takeaways The average 30-something contributes about 11% to 13% of their income to retirement accounts in 2025, compared with the financial experts’ suggested target of 15%. Median 401(k) balances for people in their 30s are about $25,000–$40,000, while the average, which skews higher, is over $100,000. If you’re in your 30s, chances are you’ve asked yourself: “Am I saving enough for retirement?” Between mortgages, child care, and student loans, it can be hard to find enough to take care of your future self. Yet, this decade is pivotal: the earlier you save, the more compounding returns work in your…

Private sector employers added an average 14,250 jobs per week over the past four weeks, according to new preliminary data being released by ADP, a turnaround from the negative September numbers.Stepping into the void created by the government shutdown, ADP will now release a four-week average weekly change in employment with a two-week lag every Tuesday. Today’s number is the four-week average ended Oct. 11.”ADP’s near real-time employment data, released weekly, will now provide an even clearer picture of the labor market at this critical time for the economy … providing a dynamic view of job creation and loss at…