Business briefs

Tech firms to fight ‘phishing’ scams


NEW YORK — Google, Facebook and other big tech companies are jointly designing a system for combating e-mail scams known as phishing.

Such scams try to trick people into giving away passwords and other personal information by sending emails that look as if they come from a legitimate bank, retailer or other business. When Bank of America customers see e-mails that appear to come from the bank, they might click on a link that takes them to a fake site mimicking the real Bank of America’s. There, they might enter personal details, which scam artists can capture and use for fraud.

To combat that, 15 major technology and financial companies have formed an organization to design a system for authenticating emails from legitimate senders and weeding out fakes. The new system is called DMARC – short for Domain-based Message Authentication, Reporting and Conformance.

Starbucks to open 50 stores in India

MUMBAI, INDIA — Starbucks aims to open 50 outlets in India by year’s end, through a 50-50 joint venture with Tata Global Beverages.

Tata Starbucks Ltd., as their venture is known, hopes to capitalize on the rising aspirations – and fattening wallets – of many Indians, who are eager to partake of the global latte life. The first outlet will open in Mumbai or New Delhi by September.

In other news

WENDY’S NEW CEO on Monday called the dour results of the past few years “self-inflicted wounds” and vowed to do better, laying out plans that included hiring top-tier workers and reclaiming market share from higher-end competitors like Five Guys and Smashburger.

THE WORLD Trade Organization ruled Monday that China unfairly limited exports of nine raw materials to protect domestic manufacturers.