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GRE Business Report: January 16th

A look at the top business headlines.
JC Penney is closing 33 stores that the company say are "underperforming." That means more than 2,000 jobs will be cut. JC Penney says the move will save them $65 million a year. The store closings are expected to be completed by early May. No word if it will impact any locations in the Rochester area. 

People who use the Starbucks mobile app should be on alert. The app leaves customers' passwords open to attack. A hacker could pick up a left-behind phone, plug it into a laptop and easily recover a Starbucks customer's password without even knowing the smartphone's pin code. Starbucks officials acknowledge the vulnerability, but he did say no customers have claimed to have been hacked as a result. 

Apple will refund customers at least $32.5 million to settle a case with the government involving apps. Apple is accused of not adequately notifying customers about a feature that lets kids buy items inside mobile apps without parental consent. In some cases, kids charged thousands of dollars in unauthorized charges to their parents' accounts. 
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