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General Electric is cutting its stock dividend for only the second time since the Great Depression.The company announced Monday that it will cut the dividend from 24 cents to 12 cents per share.GE is one of America's most widely held stocks, and countless shareholders, including retirees, rely on the dividend payments. But the company is under enormous pressure to restore investor confidence. The stock has lost a third of its value this year.The company also cut its dividend in 2009, during the Great Recession. But dividend cuts are rare these days. Many companies are increasing them because the U.S. economy is healthy and the stock market is booming.GE plans an update for investors Monday morning and is expected to detail a strategy to stabilize the company by slashing costs and selling more businesses.It has already gotten rid of its real estate portfolio, its dishwasher and appliance business, and media properties NBC and Universal Studios. More recently, it unloaded its water business and a unit that makes electrical equipment for utilities.Even the light bulb division is up for sale as part of GE's mission to focus on being a modern industrial company that sells things like jet engines, power plants and MRI machines.GE confirmed on Friday that job cuts, some of which have begun, are part of a previously announced plan to cut costs by billion.  1386

Hackers stole information for more than 5 million credit and debit cards used at Saks Fifth Avenue, Saks Off 5th and Lord & Taylor stores.Hudson's Bay Company, which owns the retail chains, confirmed the breach Sunday, and said it has "identified the issue, and has taken steps to contain it.""Once the Company has more clarity around the facts, it will notify customers quickly and will offer those impacted free identity protection services, including credit and web monitoring," Hudson's Bay said in a press release.The company added that the cards were used for in-store purchases, and there is "no indication" online purchases were affected. Hudson's Bay said it's cooperating with law enforcement in an ongoing investigation.A cybersecurity firm called Gemini Advisory identified the breach and posted a blog post detailing its scope. The "attack is amongst the biggest and most damaging to ever hit retail companies," according to the firm.Gemini Advisory said a hacking syndicate put credit and debit card information it obtained from the hack up for sale on the dark web last week.A "preliminary analysis" found credit card data was obtained for sales dating back to May 2017, according to the post. The breach likely impacted more than 130 Saks and Lord & Taylor locations across the country, but the "majority of stolen credit cards were obtained from New York and New Jersey locations."The hackers were also behind notorious data breaches that affected companies including Whole Foods, Chipotle, Omni Hotels & Resorts and Trump Hotels, Gemini Advisory said. 1589

HOLLYWOOD, Calif. (KGTV) -- Los Angeles Police Thursday released body-camera videos that show what happened leading up to the moment police shot and killed a machete-wielding man, KABC reports. The incident happened on November 26, 2019 on a street in Hollywood. The event began to unfold when the suspect, Nathaniel Pinnock, reportedly robbed a store near the intersection of Sunset Boulevard and Highland Avenue. Pinnock allegedly used a knife in the robbery. The body-cam video shows the 22-year-old stealing a vehicle at a fast-food restaurant before crashing it into several police cruisers. RELATED: Machete-wielding man shot, killed by police in HollywoodAfter officers chase the suspect, he is seen turning around and chasing officers, threatening them with the machete. Several shots were fired by an officer before he begins to back away. After the officer falls to the ground, video shows the suspect continue to run toward the officer before another officer shoots the suspect. Watch the video in the player below: WARNING: The video contains graphic content. 1080

GENEVA (AP) — The U.N. humanitarian office says needs for assistance have ballooned to unprecedented levels this year because of COVID-19, projecting that a staggering 235 million people will require help in 2021.This comes as a result of the coronavirus pandemic and global challenges, including conflicts, forced migration, and the impact of global warming.“The humanitarian system again proved its worth in 2020, delivering food, medicines, shelter, education, and other essentials to tens of millions of people,” said UN Secretary-General António Guterres in a press release. “But the crisis is far from over. Humanitarian aid budgets face dire shortfalls as the impact of the global pandemic continues to worsen. Together, we must mobilize resources and stand in solidarity with people in their darkest hour of need.”The U.N. Office for the Coordination of Humanitarian Affairs, or OCHA, expects a 40% increase in the number of people in need of such assistance in 2021 compared to this year.OCHA made the projections in its latest annual Global Humanitarian Overview on Tuesday, saying its hopes to reach 160 million of those people in need will cost billion. Still, OCHA says they’ve only raised billion thus far.UN humanitarian chief Mark Lowcock told a U.N. briefing that the U.N. appeal could raise billion by the end of the year, which according to the Associated Press, is billion more than last year.“We can let 2021 be the year of the grand reversal – the unraveling of 40 years of progress – or we can work together to make sure we all find a way out of this pandemic,” Lowcock said. 1621

Here's what's happening in the world of politics Saturday, March 3, 2018.WaPo: Stormy Daniels almost called off hush-money payment-- Porn actress Stormy Daniels reportedly threatened to call off a non-disclosure agreement with President Donald Trump's lawyer weeks before the 2016 election, the Washington Post reported.Trump's legal counsel, Michael Cohen, agreed to pay the woman, whose real name is Stephanie Clifford, reportedly in exchange for silence over an alleged affair with Trump.The Post reported an email obtained from Clifford's lawyer, Keith Davidson, on Oct. 17, 2016, threatened to call off the agreement saying, "please be advised that my client deems her settlement agreement canceled and void."Read more.Trump concerns with Kushner entanglements, sources say-- The FBI's investigation by special counsel Robert Mueller into senior White House advisor Jared Kushner is becoming a source of concern for President Trump, sources tell ABC News.Advisors in the West Wing told ABC News privately the president has raised questions about Kushner's role and potential business ties and the impact it could have legally and on his presidency.In public, President Trump has remained vocal about his support for Kushner.Read more.Scaramucci say's he's banned from the White House-- Former White House communications director Anthony Scaramucci says he's been placed on the "banned" list for the White House.Scaramucci says he's now on the "administrative exclusion list," which prevents certain former staffers from entering without special permission, CNN reported.The White House reportedly first denied Scaramucci had been banned, but later confirmed the report.Read more. 1712

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