VENTURE CAPITAL POST

Retailers in the US are feeling the pressure to increase their cybersecurity spending as they compete against online rivals and strive to meet the October 2015 deadline by Visa and MasterCard to be able to use chip-enabled payment cards, Reuters reported.

Dallas, Texas-based luxury specialty department store Neiman Marcus confirmed that 1.1 million debit and credit cards could have been compromised during a malware attack from July 16 to October 30, 2013.

Dallas-based Neiman Marcus Group Ltd was given two weeks by Florida Attorney General Pam Bondi to answer questions about the cyber breach that happened during the holiday rush, Bloomberg reported.

Private equity-owned luxury retailer Neiman Marcus Group Inc said a cyber breach in the middle of December may have compromised some of its customer cards, Bloomberg reported.

Target Corp said the cyber breach of its payment cards during the holiday shopping season was more extensive than what it had initially believed, Reuters reported.

California-based early stage investment platform TPG Growth is in advanced talks to acquire New York-based beauty company e.l.f. Cosmetics, according to three sources familiar with the matter.

After a cyber attack of its systems, Target Corp now has to deal with angry customers venting on social media, customer lawsuits and probes from state attorneys general, the Los Angeles Times reported.

Investigators think that overseas hackers were responsible for the cyber attack that compromised 40 million payment cards of Target Corp, a US retailer, Reuters reported.

Bank of America CEO Brian Moynihan and Federal Reserve Board Governor Jerome Powell will be among bank executives and regulators speaking at an industry conference in New York hosted by The Clearing House Association, which represents interests of the biggest commercial banks.

Investors remain inclined to take markets higher in the absence of anything that would suggest equities should fall. The market seems to have hit a stage where strong data helps and weak data affirms the Fed's intentions to keep policy accommodative, which also helps stocks.