Zynga Inc. shares rose less than 1% in the extended session Wednesday after the company brought in more revenue than consensus estimates.

The company reported second-quarter net losses of $56 million, or 6 cents a share, compared with losses of $911,000, or zero cents a share, in the year-ago period. Revenue rose to $306.5 million from $265.4 million in the year-ago period.

Zynga reported bookings rose 61% to $376 million. Bookings is a common financial term used by videogame companies that reflects changes in deferred revenue.

Analysts surveyed by FactSet had estimated losses of 6 cents a share on bookings of $365 million.

For the third quarter, analysts model adjusted earnings of 5 cents a share on bookings of $368 million.

Zynga said it expects third-quarter revenue of $325 million and bookings of $380 million. It expects net income of $250 million, including a one time gain of $305 million from the sale of its headquarters in San Francisco.

Zynga

ZNGA, -0.93%

 stock has gained 62% this year, with the S&P 500 index

SPX, -1.09%

  rising 20.2%.

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The Federal Reserve, as was widely expected, cut benchmark borrowing costs for the first time in more than a decade Wednesday afternoon — but the cut appears unlikely to improve Jerome Powell’s less-than-stellar stock-market record?

The 66-year-old Fed boss has a losing record on Wall Street as it pertains to the market’s reaction to Fed’s statements and his words. He has had two winning days out of the past 11 meetings, with the only positive gains for the market coming in January when policy makers paused a string of rate increases, MarketWatch’s William Watts has noted, and last month when Powell & Co. set the stage for Wednesday’s move.

Live blog: Fed decision and Jerome Powell press conference

The Dow Jones Industrial Average

DJIA, -1.23%

 fell more than 300 points at its low and lost 1.2% on the day, while the S&P 500

SPX, -1.09%

 shed 1.1% after Powell said the Wednesday move wasn’t the beginning of a lengthy cycle of rate cuts and described the move as a “midcycle” adjustment. The lack of urgency appeared to disappoint investors looking for a more sustained drop.

Near-term reaction aside, how does the market tend to perform in a rate-cut regime?

First the good news: Markets, as would be expected, tend to rally after rate cuts, because those policy actions translate into lower borrowing costs for individuals and corporations and tend to support higher moves for stocks.


S&P 500 usually pops after cuts

In fact, since 1990, the S&P 500 has gained on average 0.16% on the day of a 25-basis-point cut. One-month later, the broad-market benchmark is 0.57% higher. Double that cut and the market is 0.34% higher on the of the decision day and 1.25% higher a month later. A 75-basis-point reduction has resulted in a powerful 2.76% rally on average but 0.27% gain in the following 30-day period.

That brings us to the bad news (and partly good news), the greater the magnitude of the rate cut, the weaker the returns over the coming three and six months. However, a quarter-of-percentage point has tended to be a Goldilocks number, resulting in an average return of 3.67% three months later and 5.64% in six months.

Cuts of 50-basis points and greater all resulted in losses in the coming quarter and half-year period, as the following table shows:

Rate cuts Day of One month later 3 months later 6 months later
25-basis-point cut 0.16% 0.57% 3.67% 5.64%
50-basis-point cut 0.34% 1.25% -1.36% -3.58%
75-basis-point cut 2.76% 0.27% -3.97% -4.01%

Part of that may be that sizable cuts also have coincided with economies that were in need of help. This rate cut is one that is being billed as a so-called insurance cut, with the Fed hoping to mitigate the harm of a longstanding trade dispute between China and the U.S. that Powell has described as creating “cross-currents” in markets and the economy.

The fact that a more modest cut has had a more lasting impact on markets may be worth noting, given the degree to which investors, including President Donald Trump, have been clamoring for sizable monetary-easing measures.

Check out: Goldman raises its 2019 target for S&P 500, projects another 10% rise in 2020

—Ken Jimenez contributed to this article

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U.S. stocks fell in the wake of the Federal Reserve’s decision to cut interest rates by just 25 basis points, and the selloff gathered steam during Chairman Jerome Powell’s subsequent press conference, where he gave the impression that Wednesday’s cut was a “mid-cycle adjustment to policy” rather than the first in a series of actions to lower interest rates.

The Dow Jones Industrial Average

DJIA, -1.23%

, S&P 500 index

SPX, -1.09%

 and the Nasdaq Composite index

COMP, -1.19%

 all closed down more than 1.1%, after trading flat for most of the day. But the market’s initial reaction could give way to healthy returns in the coming weeks, as investors focus more on the Fed’s confidence in the health of the U.S. economy in the context of historically low interest rates that make equities a relatively attractive bet, analysts and investors tell MarketWatch.

The selloff in the final hours of trade Wednesday “was a bit bigger than I anticipated,” said Brad McMillan, chief investment officer for Commonwealth Financial Network, in an interview.

“I think this is going to be fairly short term,” he added. “We’re seeing a gut reaction as investors recalibrate their expectations for future rate cuts, but when you get back to the fundamentals, a healthy economy with a bit of stimulus is not the worst thing in the world.”

Yousef Abbasi, director of U.S. institutional equities and global market strategist at INTL FCStone, told MarketWatch that the decision “could give you more volatility in the coming days, but as we settle into August you’ll see equities start to perk again.”

“My assumption is that we could start to see a buy-the-dip mentality, created by the easy money move and the need to chase returns,” he added.

“The biggest surprise here is what’s not being said,” wrote Mike Loewengart, vice president of investment strategy at E-Trade, in an email. “There is nothing in the statement about growth cooling here at home.” Despite the market’s short-term disappointment with the magnitude of the easing action, he added, “investors should consider low rates the new normal for the considerable future.”

Low rates will continue to support a higher-than-average valuations for the S&P 500, McMillan said, at the same time that corporations are growing revenue at a healthy clip and appear set to avoid the earnings recession that many investors had been fearing this year.

Of course, any further deterioration in U.S. economic data could throw this logic out the window. John Vail, chief global strategist at Nikko Asset Management, wrote in an email that he expects “further global economic deceleration to levels that are moderately below current consensus forecasts,” due in part to additional U.S. tariffs on Chinese imports and, more broadly, a worsening of global trade conflicts.

For this reason, he expects the Fed to cut rates three times this year, a move that will ‘help soften the blow” of a weaker economy, but not protect equity markets entirely from the uncertainty that a significant slowdown will sow.

But even Vail’s more dour scenario — he predicts weakness in equity markets for the next 12 months — will not completely derail the argument for stocks in the coming quarters. “For long-term investors,” he wrote, “our forecasted declines, especially after dividend income, will not bad enough to make a major shift in allocations out from equities, but certainly counsels cautious investment behavior.”

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Akamai Technologies CEO Tom Leighton told CNBC on Wednesday there’s more need than ever for what he calls “zero trust” solutions for enterprise cloud security.

“Big entities [are] out there trying to cause harm. You’ve got nation states, organized crime operating on a massive scale,” said Leighton on “Squawk Alley. ” “It is hard today for an enterprise to keep up with that.”

Leighton addressed the Capital One breach, which was revealed this week, involving the exposure of more than 100 million customer records. “It speaks about the need for zero trust architectures for enterprise security.”

Akamai offers cloud security services, in addition to its traditional business of speeding up media content delivery through the web.

The CEO explained that traditional models for companies are to have a firewalls around their cloud data, but once authentication happens users are free to roam. For example, he said, “It’s easy to get malware on employee devices and they bring them inside the perimeter and then you’ve got a big problem.” Akamai aims to address those issues, he added.

Leighton spoke to CNBC a day after Akamai reported second-quarter earnings and revenue that beat analyst estimates. The cloud services provider’s revenue rose 6.4% to $705 million. The company also reported an adjusted $1.07 per-share profit.

Meanwhile, Akamai’s content delivery network has surged as more people are connecting online and streaming media. “We’re seeing a very large increase in video traffic on our platform and it could be that it increases more next year as you get more OTT services coming online,” said Leighton. OTT refers to over-the-top offerings over the internet instead of cable TV and satellites.

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William Thomas Cain | Bloomberg | Getty Images

A group of Nordstrom family members that own 31.2% of Nordstrom have been working on a proposal to increase their stake in the department store to more than half, The Wall Street Journal reported on Thursday.

The family last year aborted talks to take the retailer private after an initial offer of $50 a share was rejected as too low. Shares of the retailer have in recent weeks slipped nearly $20 below that offer.

Shares of Nordstrom were up more than 8% on Thursday, giving it a market capitalization of $5 billion, according to Factset. Year to date its shares are down nearly 30%.

The company has been swept up in a wave of investor doubt that has also hit peers Macy’s, J.C. Penney and Kohl’s. Investors have questioned whether there is a continued need for department stores, as more shoppers head online or buy from brands directly.

But Nordstrom — with its affordable luxury price-point and high-touch customer service — has long been viewed as the darling among department stores. It has fewer stores than competitors like Macy’s, which is a benefit as shoppers increasingly head online. It continues to have strong relations with brands, as others struggle to lure them into their stores.

Its off-price retail concept, Nordstrom Rack, is a roughly $5 billion business that has recently slowed, but benefits from the same bargain shopping trends that have sent shares of TJ Maxx parent TJX up nearly 23% year-to-date.

With the family holding a larger stake in the company, it would be less subject to investor whims as it focuses on transforming its business to match today’s shopping habits. Those endeavors include include a New York flagship set to open in October, which it reportedly spent north of $500 million to build.

Earlier this year, one of the controlling family members, 58-year-old Blake Nordstrom, unexpectedly passed away. He had been working as co-president and was active in its day-to-day operations, people familiar have told CNBC.

A spokesperson for Nordstrom declined to comment on the report.

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DeepMind CEO Demis Hassabis at a 2017 event in China.

Source: Alphabet

Five years after Google acquired DeepMind, the health and artificial intelligence group is unveiling its biggest breakthrough yet in health care. Its technology is able to predict if a patient has potentially fatal kidney injuries 48 hours before many symptoms can be recognized by doctors.

In a paper published on Wednesday in the journal Nature, DeepMind researchers said their algorithms correctly predicted 90 percent of acute kidney injuries that would end up requiring dialysis. The work was the result of a project with the U.S. Department of Veteran Affairs to help doctors get a head start on treatment.

“We’ve been really excited for the potential of using AI to support clinicians moving care from reactive to proactive and preventative,” said Dominic King, DeepMind’s co-founder and clinical lead, in an interview.

About 2 million people die every year across the globe from acute kidney injury, according to researchers from the University of Pittsburgh School of Medicine. The condition, which involves a sudden episode of kidney failure or damage, can be tricky for doctors to diagnose because there aren’t always immediate and clear symptoms. Studies have shown that catching it early can decrease the likelihood of serious injury or death.

In 2014, Google acquired DeepMind for a reported $500 million as it looked to expand in AI and bring in top industry experts to work on hard problems involving machine learning. As Alphabet and its various units have stepped into the health-care space in the past few years, much of the focus has been on using its technology to predict serious health outcomes before they happen.

DeepMind’s health projects will soon be folded into Google Health, led by David Feinberg. The group hasn’t said much publicly beyond its website, which says it’s studying how AI can be used to assist in “diagnosing cancer, predicting patient outcomes, preventing blindness, and much more.” Much of its team remains based in the U.K., although its health unit is expected to relocate to Google’s Silicon Valley headquarters.

Even in its early days, the company’s work in health care has been criticized for not adequately protecting user privacy. In a recent case, a patient sued Google and the University of Chicago Medical Center for not removing doctors’ notes and date stamps from personal medical records. And a U.K. government privacy watchdog said a hospital had illegally sent 1.6 million records to Google DeepMind for a new health-care app.

The research on kidney injuries came from two separate joint studies with the VA and the Royal Free Hospital in London. DeepMind said it analyzed data stored electronically from more than 100 VA hospitals, reviewing information on hundreds of thousands of patients. Personal details like names and social security numbers were stripped from the data.

In addition to predicting acute kidney disease two days early, the company is also researching how to deliver these alerts in emergency situations so doctors properly recognize and act on them.

DeepMind’s King said there’s still work to be done to create a regulatory framework for bringing predictive tools to medicine and to better understand how they can be delivered in real time.

DeepMind’s breakthroughs might eventually augment the mobile app Streams, which is mostly used in the U.K. as a communications tool by doctors and nurses. It doesn’t currently use AI, but DeepMind has long stressed its vision of someday building an “an AI-powered assistant for nurses and doctors everywhere.”

WATCH: DeepMind’s CEO on machine learning

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Asian markets fell in early trading Wednesday, after President Donald Trump poured cold water over optimism for a trade deal as negotiations between the U.S. and China resumed.

In a series of tweets Tuesday morning, Trump criticized China for not buying more American agricultural products, and took credit for its slowing economy. He also said China was hoping to wait until after the 2020 election to make a trade deal, but vowed that terms of any such deal would be much tougher after he is re-elected. Even before Trump’s comments, there had been modest expectations for the new trade talks, with little chance seen of a breakthrough.

Meanwhile, investors were expecting the U.S. Federal Reserve to cut interest rates for the first time since 2008 later Wednesday.

Japan’s Nikkei slid 1%

NIK, -0.86%

  and Hong Kong’s Hang Seng Index

HSI, -1.31%

  fell 1.3%. The Shanghai Composite

SHCOMP, -0.67%

  retreated 0.8% while the smaller-cap Shenzhen Composite

399106, -0.68%

  lost 0.5%. South Korea’s Kospi

180721, -0.69%

  fell 1% as North Korea tested more short-range ballistic missiles, and benchmark indexes in Taiwan

Y9999, -0.07%

 , Singapore

STI, -1.31%

  and Indonesia

JAKIDX, +0.07%

  all fell. Australia’s S&P/ASX 200

XJO, -0.47%

  slipped 0.2%.

Among individual stocks, Samsung

005930, -2.58%

  fell in South Korea after reporting a steep decline in second-quarter net profit. Fast Retailing

9983, -1.96%

  and SoftBank

9984, -0.92%

  fell in Tokyo trading, while Sony

6758, +5.31%

  surged after beating earnings expectations. In Hong Kong, insurer AIA Group

1299, -2.00%

  dropped, as did property developer Country Garden

2007, -1.84%

 , and iPhone component makers AAC

2018, -1.61%

  and Sunny Optical

2382, -1.39%

 after Apple posted slower iPhone sales. Apple

AAPL, -0.43%

  manufacturer Foxconn

2354, +0.00%

  fell in Taiwan. In Australia, Beach Energy

BPT, +1.43%

  rose.

On Wall Street, a mixed batch of corporate earnings helped drag indexes slightly lower Tuesday, pulling the market farther from its recent record highs for the second straight day.

The S&P 500 index

SPX, -0.26%

  fell 7.79 points, or 0.3%, to 3,013.18. Despite its two-day slide, the benchmark index remains within 0.4% of its all-time high set on Friday. The Dow Jones Industrial Average

DJIA, -0.09%

  dropped 23.33 points, or 0.1%, to 27,198.02. The Nasdaq composite

COMP, -0.24%

  slid 19.71 points, or 0.2%, to 8,273.61.

The Fed is widely expected to cut its benchmark interest rate for the first time in a decade. The Fed has decided that a rate cut now — and possibly one or more additional cuts to follow — could help inoculate the economy against a potential downturn.

“It’s Fed day and I honestly can’t bring myself to repeat what was already said on Monday and Tuesday other than ‘Yes, the Fed will cut but it won’t be enough,’ “ according to RaboResearch.

Also weighing on investor sentiments is the ongoing trade spat between South Korea and Japan. Japan has decided to deprive South Korea of so-called “white country” preferential trade status.

Benchmark crude oil

CLU19, +0.45%

  added 36 cents to $58.41 a barrel. It rose $1.18 to $58.05 a barrel Tuesday. Brent crude oil

BRNV19, +0.68%

 , the international standard, gained 53 cents to $65.16 a barrel.

The dollar

USDJPY, -0.03%

  inched down to 108.52 Japanese yen from 108.59 yen Tuesday.

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Getty Images

Democratic presidential candidate Marianne Williamson (L) speaks while Rep. Tim Ryan (D-OH) listens during the Democratic Presidential Debate at the Fox Theatre.

Spiritual guru Marianne Williamson seemed to be channeling Elaine Benes during the Democratic primary debate Tuesday when she unleashed a “yada yada yada” on the crowd.

The self-help book author uttered the phrase, made famous by Julia Louis-Dreyfus’ character on TV’s “Seinfeld,” while answering a question about gun control — raging against politicians who take money from big companies and lobbying groups, like the National Rifle Association.

“For politicians, including my fellow candidates, who themselves have taken tens of thousands — and in some cases, hundreds of thousands — of dollars from these same corporate donors to think that they now have the moral authority to say we’re going to take them on, I don’t think the Democratic Party should be surprised that so many Americans believe yada, yada, yada,” said Williamson, 67.

Related: Delaney blasts ‘fairy-tale economics’ as he challenges Warren, Sanders

She continued: “It is time for us to start over with people who have not taken donations from any of these corporations and can say with real moral authority, that is over, we are going to establish public funding for federal campaigns, that is what we need to stand up to.”

The Oprah Winfrey pal quickly began trending on Twitter, with people applauding her answer — or posting “Seinfeld” memes.

Williamson also drew cheers from the crowd for her comments about race.

“This is the dark underbelly of American society — the racism, the bigotry,” she warned at one point. “The entire conversation that we’re having here tonight – if you think any of this wonkiness is going to deal with this dark psychic force of the collectivized hatred that this president is bringing up in this country, then I’m afraid the Democrats are going to see some very dark days.”

The statement came after Williamson was asked about the Flint, Mich., water crisis, but answered broadly, saying the government gets away with second-rate environmental standards when it impacts poorer communities and communities of color.

“I assure you, I lived in Grosse Pointe. What happened in Flint would not have happened in Grosse Pointe,” Williamson said, name-dropping a tony suburb of Detroit.

“It’s bigger than Flint,” she went on. “If the Democrats aren’t saying it, then why would those people think they are there for us, and if those people don’t feel it, they won’t vote for us, and Donald Trump will win.”

At one point, Williamson, who spoke for a total of about 8 minutes and 53 seconds, according to CNN, grumbled about coming up against the answer time limit.

“I hope they’ll come back to me next time,” she said.

Williamson also pitched a $500 billion slave reparations plan.

“We need to recognize that when it comes to the economic gap between blacks and whites in America it does come from a great injustice that has never been dealt with,” she said.

When a moderator asked how she came up with her figure of $250-$500 billion for the cost — she said she’d done the math.

“If you did the math of 40 acres and a mule,” she said, explaining that’s what slave families were promised back then. “If you did the math today it would be trillions of dollars. And I believe anything less than $100 billion is an insult.”

Williamson was the breakout social media star of the first Democratic debate in Miami last month, especially for saying she would “harness love for political purposes” in her closing statement.

For her final answer on Tuesday, she said she was running for president because: “I want a politics that goes much deeper, I want a politics that speaks to the heart.”

“Because the only way to fight … is with new voices, voices with energy that only come from the fact that America has been willing to live up to our own mistakes,” Williamson continued.

“Atone for our own mistakes, make amends for our mistakes, love each other, love our democracy, love future generations, something emotional and psychological that will not be, be, be emerging from anything on this stage, it will merge from something – I am the one qualified to bring forth.”

This story originally appeared at NYPost.com

More from MarketWatch

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The type of personal information compromised in thefts like Capital One’s

COF, -5.89%

  data hack could hold the “keys to the kingdom” for a bad actor, experts say — and she or he can do far more than open a credit card in your name.

The financial company revealed Monday night that it had learned of a hack impacting about 100 million U.S. customers and 6 million people in Canada. Authorities charged 33-year-old software engineer Paige Thompson, a former Amazon Web Services

AMZN, -0.73%

  employee, with one count of computer fraud and abuse, an offense that carries up to five years in prison.

Though Capital One stressed in a statement that “no credit-card account numbers or log-in credentials were compromised and over 99% of Social Security numbers were not compromised,” it conceded that some 140,000 Social Security numbers and 80,000 linked bank-account numbers had indeed been compromised. Other compromised information included names, dates of birth, self-reported income, addresses, zip codes, email addresses and phone numbers, the company said.

‘The Social Security number basically is a password.’

“Based on our analysis to date, we believe it is unlikely that the information was used for fraud or disseminated by this individual,” Capital One said. “However, we will continue to investigate.” The company said it would notify impacted customers “through a variety of channels” and provide them with free identity protection and credit monitoring.

The Social Security numbers from credit-card applications had been “tokenized or encrypted,” according to a Justice Department complaint, while information like names, dates of birth, addresses and credit-history information had not. But security experts warn that in general, Social Security numbers and other personal details can be exploited for purposes well beyond taking out a line of credit — including medical, employment and criminal identity theft.

“That [Social Security number] is connected to so many credit-driven and governmental services, and what most people don’t realize is that the Social Security number basically is a password,” Robert Siciliano, a security and privacy expert at the online security resource Safr.Me, told MarketWatch. “It shouldn’t be that easy, but that’s what our credit system, banks, lenders, retailers and our government has designed — and they didn’t really think that one through.”

An enterprising identity thief might pose as you using your Social Security number to get a job.

Plus, “combined with other major breaches, like Equifax

EFX, -0.92%

 , the SSNs can still be used to steal identities when correlated with other personally identifying data in those other public data dumps,” said Katie Moussouris, the founder and CEO of Luta Security.

In the wake of a large data breach like this one, consumers should check if their accounts have been affected, sign up for additional fraud protection and understand the difference between a credit freeze and a credit lock. But they should also consider several other ways in which a bad actor could exploit their personal data.

Here are five more worst-case scenarios to watch out for — and how best to protect yourself:

An imposter gets a job under your name. An enterprising identity thief might pose as you using your Social Security number (along with an easily obtainable fake ID) to get a job, Siciliano said. The imposter’s wages could then be reported in your name, sticking you with an Internal Revenue Service tax bill you shouldn’t owe.

While there isn’t much you can do to prevent this from happening, identity-theft and privacy expert Carrie Kerskie said, you can freeze your Social Security number in E-Verify, the government tool used by some employers to verify employment eligibility.

An imposter using your name and personal identity to access health care can be costly to resolve and potentially dangerous to your health.

E-Verify lets users “Self Lock” their Social Security number and unlock it whenever a new employer needs to vet them. “If your locked SSN is entered in E-Verify to confirm employment authorization, it will result in an E-Verify mismatch, called a tentative non-confirmation,” E-Verify’s site says. “By using Self Lock, you can block someone from committing this fraud if they gain employment with an E-Verify employer.” But “this isn’t 100%,” Kerskie said, as not every employer uses this system.

Someone claims your Social Security benefits or files taxes under your name. Though this reportedly isn’t a foolproof approach, you should create a MySSA account with the Social Security Administration, Kerskie said. “If you don’t set it up, you leave it wide open for a bad guy to do it on your behalf,” she said. “So by setting it up, you’re marking your territory.” Anyone over age 18 with the required information can create an online account.

As for fraud related to tax returns, you may be eligible to use an IRS Identity Protection PIN (IP PIN) — which bars another person from filing tax returns using your Social Security Number — on your federal income tax returns. Eligible parties will have received a CP01A notice from the IRS; received a letter from the IRS inviting them to get an IP PIN; or filed their federal return last year as a California, Delaware, Florida, Georgia, Illinois, Maryland, Michigan, Nevada, Rhode Island or Washington, D.C. resident.

In some cases, like if the IRS rejects your tax return because someone has already filed a return using your Social Security number, you may be able to fill out an identity-theft affidavit (Form 14039).

Someone uses your identity to obtain medical services or prescription drugs. An imposter using your name and personal identity to access health care can be costly to resolve and potentially dangerous to your health. After all, Kerskie said, this person’s test results and symptoms could wind up on your medical record. “When you go to the doctor and they’re trying to make a diagnosis, are they looking at only your symptoms and your test results, or are they commingled with your imposter’s?” Kerskie said. “There have been situations where it’s led to misdiagnosis.”

A bad actor gaining access to your calls and text messages also spells bad news for two-factor authentication that uses SMS codes.

Your best defense against medical identity theft is monitoring, Kerskie said. Scrutinize any explanation of benefits you receive from your insurance company, noting dates, names of providers and summaries of services rendered, she said — and call your insurance company to report any discrepancies. Ask your health-care provider for a copy of your medical file, Kerskie added, and speak up if a provider mentions any medications or tests you haven’t received. “You can’t err on the side of caution,” she said. “You have to ask questions.”

A thief hijacks your cell phone — and is now receiving all of your calls and texts. They can achieve this by transferring your phone account to another carrier, Kerskie said, or by using your personal information to call your carrier and switch your SIM card to a new device. And while many mobile carriers allow customers to create a PIN or passcode as an extra layer of security beyond their name, address, date of birth and Social Security number, Kerskie says many people lean on lazy, easy-to-guess passwords using their birthday or the last four digits of their Social.

A bad actor gaining access to your calls and text messages also spells bad news for two-factor authentication that uses SMS codes. “The bad guys know this — so once they steal your number, they will go to major financial institutions and they will initiate a password reset for your account,” Kerskie said.

As data breaches are only likely to grow more common, you should protect yourself using multi-factor authentication through an app like Google Authenticator

GOOG, -1.15%

GOOGL, -1.11%

 or Microsoft Authenticator

MSFT, -0.48%,

Moussoris said. For additional protection, you could go with a hardware-based security token, she added.

Someone steals your identity and gets charged with a crime. This could negatively impact your own job prospects if you have a criminal record you’re unaware of, Kerskie said, or even affect your car-insurance rates if someone is racking up traffic violations in your name.

Try requesting your criminal background check from your county, your state or some other database, she suggested, or request an Identity History Summary from the FBI. Google your name every now and then to see what turns up, she added. “If there’s anything that seems off,” she said, “you need to take some extra time and some extra steps to look into it.”

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A man using an angle grinder on a steel piece at a metal fabrication company on August 7, 2018 in Orange County, New York.

Waring Abbott | Getty Images

The world’s largest steel corporations are not reducing emissions at the rate required to keep global warming below 2 degrees Celsius, a failure that on average puts 14% of the companies’ potential value at risk, according to a new analysis of corporate earnings profiles.

The 20 companies, which together represent 30% of global steel production, are currently expected to reduce emissions by less than 50% by 2050, falling behind the 65% reduction standard set by the International Energy Agency.

“Steel represents the most emissions-intensive industry — it’s a huge footprint,” said Luke Fletcher, a senior analyst at CDP, the international nonprofit that wrote the new report and works with companies to disclose financial risks of climate change on their bottom line.

The report illustrates the failure of polluting corporations to keep up with climate regulations and the financial losses they could suffer as carbon prices rise and the planet warms.

For decades, the steel sector has produced essential metal for construction, cars and food cans. However, it’s also responsible for 7% to 9% of all direct fossil fuel emissions, according to the World Steel Association, and is currently the largest industrial source of climate pollution.

Polluters face rising carbon prices

Under a 2 degrees Celsius scenario where global carbon prices rise to $100 per metric ton by 2040, the companies on average face a 14% hit risk, ranging from 2.5% to 30% for individual companies, the report shows.

Leaders at the World Bank and International Monetary Fund have pushed governments to implement higher prices on carbon in order to force fossil fuel polluters to pay for the carbon dioxide they emit into the atmosphere. Cutting emissions alone, they say, is not enough to effectively combat climate change.

The EU’s carbon price, for instance, has more than tripled since 2018 and is expected to rise in upcoming years. ArcelorMittal, a multinational steel corporation headquartered in Luxembourg City, cited higher carbon prices in its decision to slash production in May.

Steel companies are not on track to reduce emissions or avoid financial losses from higher carbon prices. According to the report, while 60% of the companies have set emissions reduction targets, only two of them are aligned with a 2 degrees Celsius or below emissions target.

Those companies are SSAB, a Nordic- and U.S.-based steel company that aims to reach carbon neutrality by 2045, and South Korea-based Hyundai Steel, which aims for an 80% reduction in emissions by 2050.

“The pace at which the steel sector is reducing emissions is too slow for the transition to a low-carbon economy,” Fletcher said, “and it needs to deploy and commercialize radical technologies if it is to avoid looming carbon costs and remain competitive.”

There is also a geographic gap between higher and lower performing companies. The report showed that Chinese, Russian and U.S. companies lagged behind European and East Asian companies in developing low-carbon technologies.

“A lot of these regions don’t have stringent carbon pricing regulations,” Fletcher said.

“We found across the board that the companies doing well were setting ambitions and goals to reduce their emissions, looking toward the long term and embracing innovation.”

Cleaner tech means higher costs

Some steel plants are working on steelmaking technology that would reduce carbon dioxide emissions and energy consumption, such as hydrogen steelmaking and electrolysis using clean electricity.

SSAB, for instance, is developing green hydrogen steelmaking technologies. ArcelorMittal is working on technology that uses electricity to reduce iron oxides, as well as technology that separates carbon dioxide from waste gases.

However, innovative technology couldn’t be implemented commercially until the 2030s and would raise the cost of steel production by 20% to 30%. Higher production costs could be a disincentive for companies to embrace new technologies, Fletcher said.

Still, more technologies to reduce carbon emissions are emerging, and the sector has also become a leader in recycling, as steel is now the world’s most recycled material.

“Companies are aware of the risks that these carbon costs represent, and they can reduce these risks by embracing cleaner technology and looking at their earnings profiles,” Fletcher said.

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