FYI: Business
BY Associated Press
Friday, November 09, 2012
11/09/12 at 4:13 AM
Lawmakers target data-mining firms
A group of congressional lawmakers says data-mining companies that collect and sell personal information about consumers should make their operations more transparent.
Members of the Congressional Bipartisan Privacy Caucus said Thursday that responses they received from nine major data brokers provided only a glimpse of a multibillion-dollar industry "that has operated in the shadows for years."
Data brokers tap a variety of sources for consumer information, including mobile phones and social media sites such as Facebook and LinkedIn. The data is then packaged and sold to advertisers and retailers.
Priceline to acquire Kayak in $1.8 billion deal
Priceline.com Inc. plans to buy online travel-research company Kayak Software Corp. for $1.8 billion to expand its travel business.
Priceline will pay about $500 million in cash and $1.3 billion in stock and assumed options. The deal values Kayak at $40 a share, a 29 percent premium over its closing price Thursday.
Kayak reported a 78 percent jump in third-quarter earnings.
