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Stocks higher ... AG Holder wants Congress to act on data breaches ... EBay says it's sticking with PayPal

Monday - 2/24/2014, 11:40am  ET

NEW YORK (AP) -- Stocks are higher in early trading today, putting the Standard & Poor's 500 index back into record territory. At 10:30 a.m. EST, the S&P 500 rose 14 points to 1,850. The Dow Jones industrial average rose 126 points to 16,229 and the Nasdaq composite rose 31 points to 4,294.

WASHINGTON (AP) -- Attorney General Eric Holder wants Congress to require businesses to quickly alert consumers and law enforcement agencies when there's a big data breach like the ones at Target and Neiman Marcus. Holder says action by Congress would enable law enforcement agencies to investigate such crimes thoroughly and would hold companies accountable when they fail to keep sensitive information safe.

FREMONT, Calif. (AP) -- Men's Wearhouse is stepping up its pursuit of Jos. (Joseph) A. Bank, boosting the takeover offer for its rival by 10 percent to about $1.78 billion. The move comes 10 days after Jos. A Bank announced that it was planning to buy the parent company of Eddie Bauer in a cash-and-stock deal valued at $825 million. But at the time Jos. A. Bank left the door open, saying that it may end the Eddie Bauer deal if it receives an acquisition offer that is superior.

NEW YORK (AP) -- EBay says it's sticking with PayPal, whether minority shareholder Carl Icahn (EYE'-kahn) likes it or not. The online auction site says it continues to believe stockholders are best served by keeping PayPal as part of the company. EBay was responding to a blistering letter from Icahn that pressed for the San Jose, Calif., company to shed the payments business. Last month eBay said Icahn was seeking a non-binding shareholder resolution to spin off PayPal.

RICHMOND, Va. (AP) -- A federal judge in Virginia has given preliminary approval to a $265 million settlement with former Massey Energy investors who say they were deliberately misled about the company's safety record. Alpha Natural Resources, which bought Massey in 2011, says there'll be a hearing in June to discuss the settlement. Investors say Massey repeatedly lied about its long history of violations and artificially inflated stock prices between 2008 and 2010.


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