Business Briefs – February 28, 2016

CEO Tim Cook Defends Apple’s Resistance in FBI Iphone Case

CUPERTINO, Calif. (AP) – Apple stockholders have given the company’s CEO Tim Cook a standing ovation at his first stockholder’s meeting since the company began its clash with the FBI.

Yesterday, Apple formally challenged a court order that would force it to help the FBI unlock an encrypted iPhone used by one of the San Bernardino, California, shooters.

Federal officials have said they’re only asking for narrow assistance to bypass some of the security features but Apple says the order would require a program that would make other iPhones vulnerable to hacking.

Evenflo Recalls Over 56,000 Child Seats for Harness Problem

DETROIT (AP) – Evenflo is recalling over 56,000 child safety seats because curious children can loosen the internal harness, increasing the risk of injury in a crash.

The recall covers Transitions Three-in-One Combination Booster Seats made from Dec. 18, 2014 through Jan. 29, 2016. The company says in government documents that the central front adjuster button that loosens the harness may be within a child’s reach. If the harness doesn’t fit snugly, that increases the chance of injury.

Evenflo says the problem only affects the seats when they’re used as forward-facing harnessed boosters.

Revlon CEO Lorenzo Delpani To Step Down Next Week

NEW YORK (AP) – Revlon said Friday that CEO Lorenzo Delpani will step down from the job next week for personal reasons.

The announcement comes several weeks after the makeup company’s biggest shareholder said it wanted to seek “strategic alternatives” for the company.

Revlon said Delpani will remain on the board and will also be a paid adviser. The company did not name a replacement.

U.S.: Computer Breach Bigger Than First Thought; 700k Victims

WASHINGTON (AP) – The IRS says the number of taxpayers whose tax information may have been stolen by computer hackers now exceeds 700,000 — more than double the agency’s previous estimate.

The tax collecting agency says 390,000 more taxpayer accounts may have compromised than the 334,000 it warned about a year and a half ago. The breach was first discovered in May 2015.

The sensitive information can be used for identity theft or to claim fraudulent tax refunds.

The thieves accessed a system called “Get Transcript,” where taxpayers can get tax returns and other filings from previous years.