Russia slashing vodka prices as economy reels

LONDON (CNNMoney)

The state agency that regulates the alcohol market said this month that it will slash vodka prices in February by about 16%.

The price cut marks a reversal for Russian policy makers, who have tried to discourage excessive drinking by hiking alcohol taxes, banning advertising and introducing new, restrictive regulations over the past few years.

But now inflation in Russia is near 10%, the ruble has fallen by more than 40% this year and the economy is shrinking -- and cheaper vodka just might take the edge off.

The country is getting hit hard by a sharp drop in oil prices as well as Western sanctions, and the situation is expected to get much worse before it gets better.

Related: Wealthy Russians aren't buying U.S. homes anymore

News of the vodka price cut comes after Russian President Vladimir Putin told government officials in Moscow last week that he was concerned that expensive vodka was driving consumers to drink cheaper bootlegged substitutes, which are not fully taxed or regulated.

The latest estimates suggest that up to one-third of vodka in Russia is bought through the black market.

Alcohol prices in Russia have risen much faster than other items in recent years due to targeted government regulations. In 2013, alcohol prices shot up by about 15%, according to data from Euromonitor International.

Rising prices have helped curb consumption, and vodka sales have been hit particularly hard.

Russians consumed nearly 1.2 billion liters of vodka drinks in 2013, according to research from Mintel, down 13% compared to 2012.

Alcoholism in Russia is considered a major problem. It's believed to cause nearly 500,000 deaths per year and is responsible for one-third of crimes, according to Euromonitor.

"Alcohol consumption patterns in Russia are amongst the riskiest in the world as consumers frequently prefer to drink excessively," Euromonitor stated in a report.

First Published: December 31, 2014: 7:10 AM ET

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4 New Year's resolutions for investors

NEW YORK (CNNMoney)

Keeping tabs on your investment portfolio can be just as important when it comes time for retirement.

Here's CNNMoney's suggested list of New Year's resolutions for investors:

1. Find your password and log on! Many investors who have their portfolios in cruise-control mode. While you don't need to trade daily, it's important to at least do an annual checkup on your accounts. Log in or call your 401(k) or brokerage account provider and see whether you should make any changes.

At your annual physical, you get your blood pressure checked. The equivalent to that in investing is looking at your asset allocation -- how much you have in stocks versus bonds versus cash and commodities.

Is your asset mix still appropriate based on your age and risk tolerance? It could be time to make a change.

Just 10% of people who have a 401k plan at Fidelity made any changes to their portfolio in the 12-month period ending in September.

While it's good that most investors aren't tinkering too much with their portfolio, the passage of time and six-year bull market may have thrown intended asset allocations out of whack.

If you started with a 60% stocks/40% bonds portfolio mix five years ago and you haven't touched it, you now have about a 70% stocks/30% bonds portfolio, according to a CNNMoney analysis.

Related: 2015 could be the year the bull run slows to a trot

2. Stop hating on the economy: Being pessimistic about the outlook for U.S. growth is so 2013. After years of mediocre economic gains, things are finally looking up.

The U.S. added 321,000 jobs in November, putting an exclamation point on the best year for employment gains since the Dot-com days of 1999.

Meanwhile, the economy grew at a brisk 4.6% pace in the second quarter and then accelerated to very strong 5% growth in the third quarter. That was the best quarter of economic growth since 2003.

Signs point to continued strength in the economy in 2015, especially compared with weakness in Europe, headwinds in emerging markets and a slowdown in China. America still looks like the best place to invest your money.

Related: 7 top stocks to buy for 2015

3. Don't overreact to geopolitical headlines: From ISIS and the Middle East to Russia and China, there are plenty of geopolitical hotspots on investors' radar for 2015.

These conflicts often create turbulence in the stock market, spooking retail investors into hitting the exits.

But time and again geopolitical headlines have proven to be just short-term blips for the stock market. The rule of thumb is if the incident doesn't appear likely to alter the fundamentals for U.S. companies, it probably doesn't warrant freaking out over.

Related: Beyond Russia: Geopolitical hotspots in 2015

4. Keep retirement goals in sight: The start of a new year is a great time to take the pulse of your retirement planning.

Consider ramping up your 401k contributions if you're behind in meeting your targets. You're probably not alone. Scared off by the financial crisis, many Americans have missed out on part or all of the bull market in stocks.

One easy fix: toss some of the $550 in gas money consumers are expected to save this year toward your retirement account. That may not sound like a ton of money, but it works out to about 1% of U.S. median income.

Related: You're $550 in gas savings. Save it or spend it?

First Published: December 31, 2014: 9:57 AM ET

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Eurozone's newest member: Lithuania

Lithuania is set to become the 19th eurozone member on January 1.

LONDON (CNNMoney)

As of January 1, Lithuanians will begin swapping their old currency -- litas -- in exchange for euros. It will be the 19th country to join the currency union.

Bank branches are increasing staff levels across the country to accommodate for an influx of people who will be coming in to change their cash.

The small former Soviet nation has been preparing for the currency switch since European Union finance ministers formally announced in July that the country could adopt the euro.

An official Lithuanian website includes a live countdown showing when the currency switch will be official. A map on the site directs people to banks and post offices where they conduct the cash swaps.

The exchange rate is set at one euro for 3.45 litas.

The Lithuanian central bank forecasts that adopting the euro will be positive for the nation's economy. It's expecting a big jump in trade and a rise in employment levels at the outset.

Lithuania has a population of 3 million people and is expected to be among the fastest growing economies in the eurozone. In 2014, the economy grew by about 2.7%, according to official estimates.

The majority of Lithuanians view the euro switch as positive, with many saying closer integration with Europe will be beneficial.

However, others worry that the currency swap will lead companies to jack up prices on consumer goods. Officials have warned firms to keep prices level.

Lithuania gained its independence from the Soviet Union in the early 1990s and joined the European Union and NATO in 2004.

Its Baltic neighbor, Latvia, joined the eurozone at the beginning of 2014.

January marks the 15th anniversary of the euro currency union, which is used by nearly 340 million Europeans.

First Published: December 31, 2014: 9:47 AM ET

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The Great Firewall of China is nearly complete

HONG KONG (CNNMoney)

Other Google (GOOG) products, including Search, Sites and Picasa, have been similarly targeted by Chinese government agencies that govern Internet and social media content.

With Gmail access now severely restricted, Google's suite of services are largely blacked out in China.

The outcry over the latest blockage was swift and angry. Business travelers complained they will no longer be able to access email while in China without jumping through hoops. Their Chinese counterparts complained that it will now be more difficult to conduct business internationally.

And Google is hardly alone.

Related: Banned! 8 things you won't find in China

Access to Twitter (TWTR, Tech30), Facebook (FB, Tech30) and YouTube is blocked in China. During recent pro-democracy protests in Hong Kong, the Facebook-owned photo sharing app Instagram was blacked out on the Mainland.

Taken together, the restrictions constitute the world's largest -- and most effective -- state-sponsored censorship program. The effort, officially called "Golden Shield," is more than a decade old.

The program allows Beijing to restrict content it deems sensitive (on democracy, Tibet or the Uighur ethnic group, for example). Thousands of websites are blocked outright, and Chinese citizens that offend authorities can face judicial consequences.

Related: China lifts ban on Facebook for select few

The effort has left Chinese Internet users with a World Wide Web that bears little resemblance to the uncensored Internet.

Instead of using Google to perform searches, most Chinese use a homegrown alternative called Baidu (BIDU, Tech30). Instead of posting messages on Facebook or Twitter, Chinese users are pushed to Weibo.

And these domestic services are in turn heavily censored.

Offensive content -- even a joke about the Communist Party -- will quickly be removed from circulation. Censors monitor activity 24/7, forcing Chinese users to deploy homophones and puns in an effort to mask their intent. Among the most popular of these is "Grass Mud Horse," a homophone for an obscenity involving one's mother that doubles as an anti-censorship meme.

Related: Chinese smartphone maker valued at $45 billion

For U.S. companies hoping to do business in the world's second largest economy, Beijing's approach presents a series of tough choices.

Companies that resist Beijing's censorship -- as Google has done -- are often punished as a result. Of major U.S. social media platforms, only LinkedIn (LNKD, Tech30) has been allowed to operate in China -- and only after it agreed to block content. For example, it took down posts earlier this year related to the 1989 Tiananmen Square crackdown.

China is unlikely to ease its restrictions in the near-term. Beijing often describes what is known colloquially as the "Great Firewall" as a critical national security tool.

"I can choose who will be a guest in my home," China's top Internet regulator Lu Wei said earlier this year.

The nationalist-leaning Global Times offered the security justification in an editorial published Tuesday.

"If the China side indeed blocked Gmail, the decision must have been prompted by newly emerged security reasons," the paper said. "If that is the case, Gmail users need to accept the reality of Gmail being suspended in China."

Related: Top U.S. TV shows face uncertain fate in China

First Published: December 30, 2014: 8:36 AM ET

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Up close with the New Year's Eve ball

Behold the official Waterford Crystal New Year's Eve ball at its home atop One Times Square in New York City.

NEW YORK (CNNMoney)

Over the last few days, engineers have been hard at work preparing for showtime. Electrical lines have been hooked up, lights have been tested and new crystal panels have been attached to its exterior. On New Year's Eve, one very special button will release the ball and it will fall down a 120-foot pole for 60 seconds, marking the beginning of 2015.

"It's a gift to the world," said Regan Iglesia, the global brand director for Waterford, the crystal company that has been outfitting the ball since 1999.

Watched live by a million people in New York and on TV by over a billion around the world, the ball has been doing its yearly descent since 1907. And while the latest ball is covered in Waterford crystal, the first one was smaller, made of iron and had just 100 light bulbs on it. This one is much fancier and represents a year's worth of planning and work by Waterford.

Related: Prosecco: No longer the 'poor man's Champagne'?

The ball, which is 12 feet in diameter, has 2,688 crystal panels. Every year, some of them are switched out with a new design; this year there are 288 new panels, which are about the size of a large coaster. This year's theme is the "Gift of Fortitude," which Iglesia said signifies the strength of the human spirit.

About 32,000 LED lights adorn the ball. They randomly change color every few minutes and can make 16 million different combinations. The lights aren't pre-programmed, so nobody knows for sure what the ball will look like at midnight on New Year's Eve.

During a preview, I watched the ball change from blue and white to rainbow to red and green stars to a red and white kaleidoscope pattern. (I also saw a rather excited guest lick one of the panels. 'Tis the season!)

"It looks like a large, breathing orb," Iglesia said.

Related: Why cook a gourmet meal when you can defrost it?

The ball sits on top of a building that houses a Walgreens drugstore. It isn't much to look at, but don't let that fool you -- it has been specially reinforced to bear the ball's 12,000 pounds. There's a clear view of the city from the top, which Iglesia compared to the view of Moses parting the Red Sea.

He said he couldn't put a price on the ball's worth or how much it costs the company every year. Given that a pair of Waterford wine glasses can cost $150, we're betting it isn't cheap.

"We just say it's priceless," he said.

First Published: December 30, 2014: 6:32 AM ET

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Hackers recreate fingerprints using public photos

Hackers recreated the thumbprint of German Minister of Defense Ursula von der Leyen using several news photos.

NEW YORK (CNNMoney)

At a cybersecurity convention in Hamburg last week, the "Chaos Computer Club" demonstrated how it can mimic a fingerprint just by analyzing photographs.

Fingerprints have been recreated from smudges on windows and other smooth surfaces. In the past, forgers have used tape, a scanner, some plastic material and glue to build a gummy fingerprint that can fool scanners.

But the Chaos Computer Club says this is the first time fingerprints have been spoofed from afar. The group's leader, known as "Starbug," said he was able to recreate the thumbprint of the German Minister of Defense Ursula von der Leyen, from several news photos.

The hack isn't terribly complicated, but it's also not something most people would have the patience or ability to pull off. Starbug printed the fingerprint from the photos onto tracing paper, copied it onto a plastic board, covered it in graphite and made a dummy print by coating the plastic in wood glue.

Not easy. Still he made a dummy fingerprint from a photo. Impressive.

Related: iPhone encryption stops FBI, but not this 7-year old

In one demonstration, the dummy print was able to trick Apple's (AAPL, Tech30) TouchID (which controls Apple Pay).

"There will be no need to steal objects carrying the fingerprints anymore," the group said in a preview of the event. "After this talk, politicians will presumably wear gloves when talking in public."

The Club said the presentation calls into question the validity of fingerprint security systems. It would be difficult to do anything useful with the German Defense Minister's fingerprints, but you could use the hacking method to get into your friend's iPhone.

Related: Researchers claim to hack fingerprint sensor on Samsung Galaxy S5

Related: iPhone fingerprint scanner will start security revolution

First Published: December 30, 2014: 8:00 AM ET

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Get ready for a new Greek drama

Polls show the anti-austerity party Syriza could win the most voter support during upcoming elections in Greece.

LONDON (CNNMoney)

The need for snap elections was triggered Monday after Greece's parliament was unable to secure enough votes to install a new president.

The main Greek stock market index plunged by as much as 11% after the voting results came out, but then recovered slightly. The main indexes in Spain and Italy also dipped by about 2%.

The yield on Greek 10-year government bonds jumped by one percentage point to 9.3%, reflecting growing concern that Greece may be heading for another debt crisis.

Opinion polls indicate the popular anti-austerity party -- Syriza -- could win the most voter support at the upcoming elections. This is a party that wants to renegotiate the terms of Greece's 240 billion euro ($293 billion) bailout package with the International Monetary Fund, European Commission and European Central Bank.

The party has also vowed to reverse many of the reforms that have helped Greece return to economic growth, and said it plans to introduce billions in spending programs that would hike wages and increase pensions.

While Syriza's plans are popular among Greeks who have been hurting from high unemployment and years of recession, experts say they are unrealistic and irresponsible and could trigger a crisis that would ultimately lead to Greece leaving the eurozone.

However, Syriza has been softening its tone recently and says it wants to stay in the eurozone.

Greece's massive bailouts from 2010 and 2012 kept the country afloat and within the eurozone, but left it saddled with a mountain of debt worth about 170% of GDP.

Despite the risks presented by the current situation in Greece, experts think the eurozone is now better placed to cope with another Greek crisis.

"The eurozone could probably handle an unlikely but not impossible Greek accident with no more than very limited and temporary damage," said Berenberg economist Holger Schmieding in a research note written earlier this month.

James Shugg, a senior economist at Westpac in London, echoed this sentiment.

European leaders are much better prepared to deal with a potential Greek fallout, said Shugg.

"This is not the beginning of [another] euro sovereign debt crisis," he said.

The upcoming Greek elections are expected to be held on January 25.

-- CNN's Elinda Labropoulou in Athens contributed to this report.

First Published: December 29, 2014: 6:35 AM ET

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Did China pull the plug on Gmail?

Gmail activity has flatlined in China. Is the Great Firewall to blame?

NEW YORK (CNNMoney)

Gmail traffic in China tumbled to near zero on Dec. 26 and hasn't budged since, according to Google's transparency report.

Dyn Research, a group of scientists that reports on Internet issues, tweeted that the Chinese government had deliberately blocked Gmail in China, according to its analysis. The research group also said that "blocks" of Google served from Hong Kong have shut down throughout the country.

Google (GOOGL, Tech30) and China have had a testy relationship since 2010, when Google pulled its business out of the country. Google's websites are no longer served in China; instead, its servers reside in Hong Kong, which is not subject to the same censorship laws that the rest of China is.

Google's move to Hong Kong forces China to actively censor or block Google content for its citizens -- something Google said it was no longer willing to do four years ago. Google search, YouTube, photos and maps have all experienced major outages and service disruptions this year, according to Google's transparency report.

This could be latest sign of China's ruling Communist Party exerting its influence on Hong Kong. In recent months, Hong Kong erupted into violent pro-democracy protests.

Related: Why North Korea's economy can't live without China

China's ruling Communist Party has for decades operated a massive censorship project called the Great Firewall of China. Social media platforms including Facebook (FB, Tech30) and Twitter (TWTR, Tech30) are banned, and thousands of websites cannot be accessed from inside China.

Internet stability in the region has been a bit shaky. China's neighbor North Korea lost its Internet connection and went dark on Dec. 22. It was unclear whether the country suffered a massive power outage, or got unplugged by an outside entity.

That came after the FBI accused the North Korean government of hacking Sony Pictures for revenge over its movie "The Interview," which depicts the fictional assassination of Kim Jong Un. The North Korean government denied the allegations.

First Published: December 29, 2014: 7:55 AM ET

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Smartphone maker you never heard of valued at $45 billion

NEW YORK (CNNMoney)

Lenovo? LG? Nokia? Sony (SNE)? No, no, no and no. It's a Chinese company called Xiaomi.

If you've never heard of Xiaomi, you will soon.

Xiaomi just raised $1.1 billion in funding from some of the tech industry's most powerful players. That values the company at $45 billion -- bigger than LG, Motorola and Sony (SNE) put together. Xiaomi is currently the world's most valuable startup -- worth more than than Uber, Airbnb or Pinterest.

Xiaomi is also the fastest-growing smartphone maker. Its sales soared 211% to more than 17 million smartphones in the third quarter -- just less than half the number of iPhones that Apple (AAPL, Tech30) sold, according to IDC.

Xiaomi's share of the market more than doubled to just over 5%. A year ago, it commanded just 2% of the market.

Related: Chinese smugglers make big bucks on iPhone 6

The Chinese smartphone maker rose to such prominence so quickly by focusing on China and a few nearby high-growth countries. Xiaomi is now the No. 2 smartphone brand in China (behind only Samsung), and it recently began selling phones in Indonesia, Mexico, Russia, Thailand and Turkey.

Xiaomi has taken the growth markets by storm by offering super-low price phones with online-only sales. The company's gorgeous Mi4 smartphone debuted in August, designed to be that country's "iPhone killer." It helps that the Mi4 looks almost exactly like the iPhone.

The company has a unique business model: It doesn't even try to make money on its $130 phones, which it sells at cost. Instead, most profits come from selling add-ons and apps.

Xiaomi has also has a knack for marketing, and its advertising campaigns have attracted a massive group of extremely loyal fans in China.

"We will strive to continue bringing innovation to everyone, with a goal of producing high-quality, high-performance devices with great user experience," said Bin Lin, co-founder of Xiaomi, in a Facebook message on Monday. "In January 2015, we will be unveiling our next flagship device."

Related: Xiaomi just took over China -- is the U.S. next?

The big question for Xiaomi is whether it can grow beyond the countries in which it currently sells phones. For instance, could Xiaomi shake up the U.S. smartphone market, which is dominated by Samsung and Apple?

Chinese smartphone makers haven't exactly been welcome in the United States. None of Xiaomi's biggest national competitors -- Lenovo, Yulong and Huawei -- have made any headway in America. For the better part of the past decade, Nokia was the worldwide leader in cell phone sales without any significant presence in the United States. LG, Sony, and many others have found international success but have failed to gain traction here.

Xiaomi has made no plans to sell its phones in the United States. But if and when that day comes, it will face its biggest challenge yet.

First Published: December 29, 2014: 9:23 AM ET

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Time travel with Cuba's Frankenstein cars

NEW YORK (CNNMoney)

But she doesn't work for any government. Instead, she sells her photos of cars and trucks -- usually vehicles that have not yet been revealed to the public -- to car magazines and auto enthusiast web sites hungry for even a camouflaged glimpse of an upcoming model.

Generally speaking, automakers don't appreciate what she does.

But lately she's found a friendlier place to indulge her passion for automotive photography, a place where the cars are ancient and often decrepit but people are eager to show them off: Cuba.

New cars, in this communist country, which has been under a U.S. trade embargo since the early 1960s, are difficult and expensive to acquire. But passionate -- and largely impoverished -- owners have kept the now ancient American cars that were on the road before the embargo still rolling with a mixture of grit, ingenuity and whatever parts they can gather.

The cars are often hard to recognize after decades of repainting and modification, but there are some classics under all that body work.

"It might have 10 coats of house paint on it to keep the rust from spreading," Priddy said.

A lot of old American cars in Cuba, like this 1957 Ford Fairlane, are now used as taxi cabs.

In most cases these automobiles are, literally, a mere shell of what they used to be. While the body might be that of a 1957 Ford, the engine is more likely from a Mercedes-Benz (DDAIY) or a Peugeot. Even the body itself might even have been significantly changed. Cars are stretched for new roles as taxicabs. Roofs might have been cut off to turn hardtops into a convertibles.

Often, cars like this 1957 Chevrolet Bel Aire, have engines taken from later European cars.

Priddy went to Cuba in 2013 as part of a cultural exchange program and quickly became drawn to the island's time-warp car culture. She then organized a car-focused cultural exchange trip of her own earlier this year taking with her, among others, auto company executives, an automotive museum curator and a retired car magazine art director.

The emphasis is on keeping cars like this 1952 Chevrolet running not on keeping them in original condition.

The group visited Cuba's national car museum in Havana and spent a couple of days with members of the city's biggest car club.

Cars like this 1952 Buick are often passed down through families.

"They're so happy for people to have an interest in their cars," she said.

There are Russian, French and Asian cars on the roads of Havana, she said, and they're usually much newer than and in better shape than these American models, but it's clearly General Motors (GM), Ford (F) and Chrysler (FCAM) products for which people have the most affection.

This is a 1952 Plymouth but little of the original car may remain underneath.

"They love their American cars," she said.

This 1958 Ford Prefect was a model not sold in the United States.

Even though these cars are hardly in original condition, their owners are proud of the machines and the lengths to which they've gone to keep them running.

This 1951 Chevrolet has clearly been through some changes.

For the relative few who have real money to spend, American car parts can be had through couriers who buy the parts in the United States and simply bring them in their luggage on trips to Cuba.

In her normal professional life, Brenda Priddy takes photographs like this one of a Chevrolet Silverado being tested in the desert before it had been unveiled to the public.

So far, Priddy has taken over 50,000 photos of Cuba's cars and is planning another Cuban car tour later this year.

Related: Criminal's muscle car collection auctioned for $2.5 million

Related: 10 most expensive cars sold at Pebble Beach

Related: Most powerful American cars

Experts from Hagerty Insurance assisted with identifying the cars shown in these photographs.

First Published: December 26, 2014: 3:07 PM ET

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Jim Beam born to Jack Daniels

Jim Beam Leathers was born on November 14, to Jack Daniels Leathers and Lydia Leathers.

NEW YORK (CNNMoney)

But for one Louisiana family, baby Jim Beam will fit in quite well. His father, Jack Daniels Leathers, 31, is also named after a stiff drink.

It's somewhat of a tradition for the family, he told the Houma Courier in Houma, Louisiana, earlier this week.

The day Leathers was born, his father happened to be drinking a glass of the well-known whiskey and suggested the name, Leathers told CNNMoney. His mother agreed, after calling a local store to double check the correct spelling. (His birth certificate actually reads: Jack Daniel's Leathers.)

And when Jack's own son was born on November 14, he wanted to keep booze in the family name.

"It builds character to be a little different," he said.

Fortunately his wife, Lydia Leathers, 23, thought it was a good idea. In fact, the couple discussed naming a son Jim Beam on their very first date.

And if more children come along, they already have some names on tap. Evan Williams, after the bourbon, for a boy, and Sherry if it's a girl.

Related: Why this whiskey costs $38,000 a bottle

Related: There's a black market for beer. And it's bad for drinkers

First Published: December 26, 2014: 4:41 PM ET

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New York City may ban Styrofoam cups

At issue in NYC is whether polystyrene, commonly known as Styrofoam, can be effectively recycled in a way that doesn't cost too much.

NEW YORK (CNNMoney)

Currently, most Styrofoam products used in the city end up in landfills.

At issue now is whether polystyrene, commonly known as Styrofoam, can be effectively recycled in a way that doesn't cost too much.

New York passed a law last year restricting the sale and use of cups, food containers and packing materials made out of polystyrene. It will apply to restaurants, coffee shops, food carts and various other establishments.

But the ban was put on hold to first give manufacturers and the city time to see if they can come up with a way to recycle the material.

If the city deems polystyrene recyclable, it will begin processing it at a recycling facility in Brooklyn.

If it decides it cannot be recycled, the ban is expected to go into effect in July.

A decision is expected soon.

A ban would put New York City in the same league as San Francisco, Seattle, San Jose and Portland, all of which have restrictions on Styrofoam containers.

Related: California bans plastic grocery bags

Dart Container, one of the leading makers of foam cups, counters that polystyrene can be recycled in an economically feasible and environmentally effective way.

Dart has proposed a plan that would guarantee that all of New York's foam products will be recycled for the next five years -- at no cost to city, according to a statement from Michael Westerfield, the company's director of recycling.

Westerfield added that businesses stand to gain "millions in revenue" by recycling polystyrene, though he did not elaborate on how the proposal would be funded.

Related: How green is your state?

However, critics disagree that recycling is a good option.

A study by the Natural Resources Defense Council found that there is no safe and cost-effective way to recycle polystyrene and that a ban is the only option.

In 2013, San Jose, California, found that polystyrene cannot be recycled because of its low market value and the risk of food contamination.

In pointing out the possibility of the upcoming ban, a recent Goldman Sachs (GS) report said it would be good news for Berry Plastics Group (BERY), which makes cups out of a material similar to polystyrene that is recyclable.

Dunkin' Donuts, the coffee and donut chain with many locations in the city, will likely be a big buyer of Berry's Versalite hot and cold cups, the report says.

Goldman estimates that Versalite could generate an additional $10 million in revenue next year for Berry Plastics.

The investment bank said its sources suggest that New York is likely to ban the use of foam containers sometime over the next 12 months.

First Published: December 27, 2014: 10:00 AM ET

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JetBlue offers to fly police to NYPD funeral

NEW YORK (CNNMoney)

The New York-based airline is also working with its partners to have family members of one of the slain officers, Wenjian Liu, flown in from overseas.

Liu and a second NYPD officer, Rafael Ramos, were sitting in their patrol car when they were shot and killed by Ismaaiyl Brinsley, a Georgia man with a long criminal record.

Ramos's funeral is being held on Dec. 27, whereas Liu's funeral hasn't been scheduled, pending the arrival of relatives from China.

JetBlue said in a statement that its flights are available "to law enforcement agencies across our route network who wish to send representatives to New York to support their brethren ... We are accepting up to two officers from each department (space permitting)."

A spokeswoman said JetBlue has provided similar support in the past, but did not immediately provide any details.

The gesture was a positive one at a time when tensions have been running high nationwide in the wake of two recent incidents involving the death of unarmed black men at the hands of police in Missouri and New York.

The NYPD's 25th Precinct in Manhattan thanked JetBlue on Twitter for "offering free flights to NYC for any police officer in America who wants to attend Officer Ramos' funeral on Saturday."

First Published: December 24, 2014: 2:48 PM ET

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Watching 'The Interview' online: absurdly amusing

NEW YORK (CNNMoney)

Sony Pictures created an unprecedented event on Wednesday by releasing the controversial comedy on the Internet ahead of its Christmas arrival in theaters.

Partly out of patriotic duty, partly out of fan-boy curiosity, I rented the movie on YouTube for $5.99 right after it came online at 1 p.m. ET.

Truth be told, I was a bit hesitant to hand over my credit card, given the cyber-attack against Sony and persistent threats from hackers. (There was no real reason to worry, however.)

Renting the movie was a snap -- YouTube made "The Interview" easy to find, and moments after I paid, a receipt was sent to me via email.

Fifteen minutes in, the movie was streaming without any incident. There was no choppiness, no sluggishness, and it felt just like watching a movie on Netflix or HBO.

As for the experience itself, I've never seen anything like it.

The 1 p.m. release had the feel of a communal event, with other reporters live-tweeting and live-blogging the whole thing -- an instance of the "social TV" phenomenon applied to film.

"BuzzFeed newsroom at a standstill, transfixed, watching 'The Interview,'" BuzzFeedBiz deputy editor Tom Gara tweeted, tongue at least partly in cheek. "This is our moon landing."

Knowing that some of the cast and crew members were also participating also added a whole new level to the viewing.

"Take a picture of yourself watching it and I'll "LIKE IT," one of the film's stars James Franco tweeted during the early afternoon.

Truth be told, it was hard to separate "The Interview" the movie from the hacking news and freedom of expression issues surrounding it.

Would I have cared about the movie at all, were it not for the cyber-attack, the hackers' threats, the resulting cancellation last week, and then its resurrection this week?

Maybe not.

In the end, "The Interview" turned out to be what it was originally intended to be: a so-so gross-out comedy by Rogen and Franco.

However, the absurdity of the moment, along with the feel of a new viewing experience coming together, made it something quite memorable.

First Published: December 24, 2014: 4:13 PM ET

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Google fights Marriott's plan to block Wi-Fi hotspots

Marriott's plan to block Wi-Fi hotspots in its hotels is being opposed by Google and Microsoft.

NEW YORK (CNNMoney)

Marriott (MAR) and the hotel lobby American Hospitality & Lodging Association asked the FCC this summer to allow hotels to deploy equipment that prevents people from turning their phones into Wi-Fi hotspots.

In order to avoid pricey hotel Wi-Fi charges, many guests opt to use their data allotment from their cell phone provider, connecting their laptops to the Internet via their smartphones.

At Marriott connection rates start at $14.95 per day. For $19.95, guests get "enhanced high speed Internet" which includes video chatting, downloading large files and streaming video.

In its petition to the FCC, Marriott and the hotel lobby argued that guests can use their smartphones or Mi-Fi devices to launch an attack against a hotel's Wi-Fi network or threaten other guests' privacy (by stealing their credit card data or other personal information). They also said that those gadgets can interfere with the hotel's Wi-Fi, slowing down speeds for other customers.

"If a hotel is powerless to address such activities to ensure the security and reliability of its Wi-Fi network on its premises, both the hotel and its guests would suffer," Marriott said in its filing.

Related: 5 ways to make your Wi-Fi faster

Most of the 21 responses to Marriott's request basically boil down to this: The hotel industry simply wants to keep charging people exorbitant rates for Wi-Fi.

"If a customer arrives at a hotel with her own Mi-Fi device and the hotel interferes with the customer's connection to that personal hotspot, the hotel can effectively force the customer to purchase the hotel's Wi-Fi services to gain access, even though the customer has already paid her mobile operator for personal hotspot capability," said Microsoft (MSFT, Tech30) in a filing to the FCC opposing Marriott's request.

Google (GOOGL, Tech30) agreed. In its filing the search giant said blocking access to personal Wi-Fi hotspots "would undermine the public interest."

The wireless industry lobby and other wireless providers have also asked the FCC not to accept Marriott's request.

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Related: Verizon is killing off 3G

First Published: December 25, 2014: 8:37 AM ET

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How middle class Christmas has changed

The Schultheis family spends a little more on Christmas these days.

NEW YORK (CNNMoney)

Nowadays, the Putnam Valley, N.Y., resident finds those small gifts won't cut it.

Though he now only buys gifts for one niece and one nephew, both his godchildren, it's all about tech. That means he's spending $1,300, or nearly 60% more in inflation-adjusted dollars. That's not easy for the assistant high school principal to afford.

Even the cost of his dogs' Christmas gifts are rising faster than inflation. In 2003, he bought his late Golden Retriever, Carmine, a Jolly ball for $7. To buy the same gift this year for his German Shepherd, Memphis, cost him $22.

"Middle class wages are not keeping up with the cost of gifts," said Oliverio, 61, who is divorced and doesn't have children. "It's much tougher to buy gifts that really awe the recipient."

Overall, Americans plan to spend $861 on Christmas gifts this year, according to American Research Group, a polling firm. That's up 35% from 1985. Median income, meanwhile, is only up 6.5% over that time.

(Christmas spending was higher than now for the decade preceding the economic downturn in 2007, but it was likely fueled by the tech and housing booms.)

CNNMoney readers wrote to us about how their Christmas giving -- and receiving -- has changed over the past 30 years. The responses varied, but many said they are spending more ... and not all could afford it.

Related: All I want for Christmas: Boobs

Technology plays a big role in boosting both cost and expectations, said Jeanne Etling, 63, a librarian in Schaumburg, Illinois, with two grown children. Three decades ago, when her kids were young, she bought them Transformers and Legos. Now, FitBits and printers will be under the tree.

Lisa Schultheis is spending a bit more on Christmas these days on her six children, who range in age from 20 to 28. But she and her husband, who consider themselves middle class, try to focus on fulfilling "needs instead of wants." For instance, she's buying her daughters comforters for their beds.

While many blame the run-up on Millennials for feeling entitled, Schultheis takes their parents to task.

"Part of the problem with Christmas is the parents today. They seem to be the ones who need to give the expensive gifts," said Schultheis, 52, who lives in Tinton Falls, N.J. "It's the parents who are playing the "Let's keep up with the Jones'" game."

Related: Are you really middle class?

First Published: December 24, 2014: 9:03 AM ET

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Here's where all the Jews are hanging out on Xmas eve

A growing number of savvy entrepreneurs are hosting events geared towards Jewish singles on Christmas Eve, and clubs are cashing in.

NEW YORK (CNNMoney)

And we're not talking Chinese restaurants and movie theaters. There's a growing number of "ball" events popping up at clubs -- from New York City's Tao Downtown Lounge to Miami's Fontainebleau -- all catering to Jewish singles on Christmas Eve.

"It has become Valentine's Day on Christmas Eve -- for Jews," said Andrew Rudnick, who has been organizing the MatzoBall for 28 years.

Rudnick partners with hot spots like Fontainebleau Miami Beach's LIV night club, charging from $30 to $50 for access to the club. (Beverages aren't included.)

"It's the only night of the year we can take on a fantastic venue that would normally be closed and deliver it almost exclusively to the young urban [Jewish] community," said Rudnick.

He's renting 21 venues this year across the country (up from seven in 2013), including one called "Christmas is Canceled" hosted by Instagram sensation The Fat Jew.

For clubs -- it makes business sense. Entrepreneurs and event planners like Rudnick take care of the marketing, and they just staff and throw a party, like any other night of the year.

"It's a great opportunity on a night that's typically very quiet," said Jeff Klein, vice president of operations at Fontainebleau Miami Beach. "We've taken advantage of a niche market."

Klein declined to disclose revenue generated by the club as a result of the event, but said it's on par with a normal Wednesday or Thursday night (also evenings when many other venues are closed).

Related: 7 lifehacks to eliminate your holiday hassle

This year, Fontainebleau partnered with Rudnick to extend the activities beyond just Christmas Eve. An overnight package -- which costs $249 -- will buy a ticket to the MatzoBall at LIV, hotel accommodations, brunch, and access to a MatzoSplash Pool Party on Christmas Day. According to Rudnick, he wants to ramp up his business in 2015 by hosting monthly meetups and launching a membership-based network.

As the longest running of the events, the MatzoBall faces fierce competition. Rudnick says he's issued cease-and-desist letters over the years to those who've copied the MatzoBall name. And several of his rivals are already hosting events year-round -- like event producers Jeff Kashi (who hosts NYC's Official Xmas Eve Party) and Eli Lunzer (who runs a similarly titled The Official Xmas Eve Bash for Young Jewish Professionals in NYC).

Lunzer has been offering his MatzoBall alternative for seven years now. Ticket prices to the Bash cost half the amount of some competitors -- between $18 and $25 -- and part of the proceeds go to charity.

"It's much more economically reasonable," said Lunzer, of his event held at the Ainsworth Park this year.

Like Klein, Lunzer has found this time of year to be a tremendous business opportunity -- he expects up to 900 people to attend this year (up from 100 when he first started hosting the event).

"I've had venues beg me for my business," said Lunzer, which he credits to the fact that he runs events year-round, including New Year's Eve, President's Day, and Hanukkah, all catering to young Jewish professionals.

Related: Sony will release 'The Interview' at limited number of theaters on Christmas

Creating a loyal base of customers is essential to attracting attendees as the number of events grows -- and they compete with dating sites offering up singles to mingle with (at least digitally speaking).

Let My People Go -- which also hosts events year-round -- has been organizing "The Ball," on Christmas Eve for 20 years. In Los Angeles, it's a one-venue destination. But in New York City, they have a foothold on the Tao/Strategic Group -- the parent company for nightlife destinations including PH-D, Marquee, and LAVO. The Ball is a multi-venue extravaganza event lets party-goers club hop to five different clubs (and provides free SUV limo transportation to and from the venues) for $35 to $45.

According to Michael Marinoff, director of nightlife at Dream in Meatpacking District, the event brings in 65% of a typical night's revenue -- and manages to keep the club packed. PH-D has a capacity of 400 so over the course of the night, they see three times that amount on Christmas Eve. (They're also the host of The Ball Afterparty on Christmas.)

But what keeps people popping into these events year after year? The promise of becoming another statistic.

According to Rudnick, the MatzoBall has resulted in 20 marriages (including his own) over the years. And Lunzer said his Xmas Bash has resulted in 23.

Happy holidays -- and happy hunting!

First Published: December 24, 2014: 8:59 AM ET

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Why cook a gourmet meal when you can defrost it?

Gourmet frozen food from Babeth's Feast

NEW YORK (CNNMoney)

Or you can just defrost the whole thing.

Say goodbye to the TV dinners of yesterday with mystery meat and frozen carrots. Walk down a frozen food aisle today, and you'll find the ready-to-eat meals of the past have gone gourmet, with options like beef bourguignon and sesame ginger wild salmon.

Sales of frozen food for the last year are over $47.9 billion, according to Nielsen. The market is heating up, and the holiday season is a great time to outsource meal preparation.

"One of the trends we're seeing is that frozen foods are evolving; it's similar to what happened with craft beer," said Phil Lempert, a grocery expert and consumer behavior analyst.

Related: Guess who's expecting a holiday tip this year...

He said more companies are investing in unique, artisanal frozen products that have recognizable, transparent ingredients list and focus on an authentic taste.

Last year, the National Frozen and Refrigerated Foods Association launched an ad campaign with the lines, "Real food. Frozen," which includes videos on how foods in the freezer case come to be.

"They're chef-inspired recipes," said Skip Shaw, president of the association. "Basically we're doing something everyone would do at home, but freezing it."

While traditional food companies have expanded the offerings, one business has upped the ante and opened a store completely dedicated to gourmet frozen food -- the first in the nation.

"Frozen is the new fresh," reads the writing on the wall at Babeth's Feast, which opened this summer in New York City's Upper East Side neighborhood. Owner Elisabeth de Kergorlay, a French-born food entrepreneur, said increasing her sales isn't just about taste. It's about changing the way people think.

"You wouldn't think, 'I'm going to buy a good pre-made meal so I'm going to go to the frozen section.' You think the deli or a specialty store," de Kergorlay said.

At her store, a kitchen in the back churns out samples all day long, starting with pastries in the morning and moving on to hearty meals into the evening. The samples range from lobster risotto on the half shell to paprika braised lamb with turnips.

Related: Amazon's last minute shoppers get more time

"There's the idea that it's going to taste bad, or that it's going to be salty," she said. She called the moment a customer tries her product "the element of surprise" because it tastes better than expected.

Babeth's Feast offers 400 products. The newest items were created especially for the holidays, like turkey roulade with cranberry and apple stuffing, and a Brussels sprout dish that comes topped with a cheddar cheese crumble.

If frozen food doesn't taste good, it's not because it was frozen, de Kergorlay said.

"The truth is, it wasn't good before it got frozen. That's really the hurdle."

First Published: December 24, 2014: 9:30 AM ET

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Could this mean the end of tipping?

Kicking the habit: Some restaurants say no more tips.

NEW YORK (CNNMoney)

Sound like a case of rude customers or poor service? It could just be the future of dining out, as more restaurants implement no-tipping policies, and use alternative menu pricing to compensate employees.

"There is a growing movement to change the way tipped workers are paid," said Jay Holland, government affairs coordinator at the New York State Restaurant Association.

Starting Jan. 1, patrons of Bar Agricole and its sister restaurant Trou Normand in San Francisco will not be expected to leave a tip.

Instead, owner Thad Vogler has decided to increase his menu prices by 20% to pay the staff and eliminate any end-of-dinner math calculations.

"It's time for the restaurant business to be more like every other industry and charge what's appropriate rather than relying on other people to compensate its workers," said Vogler.

These 10 food trends could dominate 2015

Nearly 2,400 miles away in Newport, K.Y., customers of meatball shop Packhouse are also not expected to leave a tip at the end of their meal.

"We are in a competitive industry and we thought this could be a point of differentiation and originality," said owner Bob Conway. "The customer won't feel the whammy at the end of their experience."

He built tax and gratuity into his menu prices when he opened the restaurant at the start of 2014. The wait staff makes either $10 an hour or 20% of sales (whichever is higher) and Conway said his servers average about $16.50 an hour.

These restaurateurs aren't alone in their move to end tipping.

And while it isn't yet widespread, the movement is particularly catching on in many restaurants in major metropolitan areas.

How much should you tip housekeeping? A travel tipping guide

But no-tip policies are still far from the norm, and have a long way to go before becoming widely accepted.

"This will be the most controversial and most discussed movement of the next year," predicted Andrew Freeman, president of restaurant consulting firm AF&Co.

Part of the controversy relates to whether workers will get shorted.

Federal law requires employers to pay tipped workers $2.13 an hour as long as their total compensation (including tips) equals the federal minimum wage of $7.25 an hour. And some states have issued their own minimum wage laws specific to tipped workers.

Holland said getting rid of tips could be bad for some servers. "The workers who are earning more than minimum wage could actually be getting a decrease in their take-home pay if they weren't allowed to get tips," he said.

Another issue is whether customers will feel the level of service could decline if waitstaff aren't working for tips.

"Most people complaining tend to not like the perceived control they are losing over customer service," Volger said.

But most diners don't tend to give tips based solely on service, according to Martin O'Neill, Hotel and Restaurant Management program director at Auburn. "People tip regardless. It's more societal pressure that weighs on the decision."

Guess who's expecting a holiday tip this year...

Getting rid of tipping is easier said than done since it's a practice that's become so engrained in our culture.

In Packhouse, despite a sign on the floor when you come in the front door and a note in the menu about the policy, Conway said some of his customers can't walk away without leaving something.

"It's usually just a few dollars, and that's fine, but we try to explain that our servers are very well compensated."

First Published: December 23, 2014: 9:57 AM ET

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Keurig recalls 6.6 million home brewing machines

NEW YORK (CNNMoney)

"Hot liquid could escape from certain MINI Plus Brewing System units during use," the company said Tuesday. That is more likely "if the brewer is used to brew more than two cups in quick succession."

The coffee makers are stamped with the model number K10 and were made between December 2009 and July 2014. They may have been purchased at a Kmart, Kohl's (KSS), Target (TGT) or Walmart (WMT), or directly from Keurig Green Mountain (GMCR).

Keurig told customers to visit its website to see if theirs is among those recalled. If it is, the company will ship a free repair kit. The kit will likely include "a brewer handle attachment and a replacement K-Cup holder which prevent hot water from escaping," spokeswoman Suzanne DuLong said.

Additional information is available from its call center, though it will be closed on Christmas and New Year's Day.

Related: Hacking Keurigs for cheaper coffee

"In the meantime, you can continue to use your brewer," Keurig said. "We recommend you avoid brewing more than two cups in rapid succession and maintain an arm's length distance from the brewer during the brewing process."

Its brewers make single servings of coffee by pumping hot water through small plastic cups of grounds.

The company said it is currently working on providing retailers with safe models.

Related: The top money stories of 2014

First Published: December 23, 2014: 9:25 AM ET

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Dow hits 18,000 for first time ever

Time to break out the champagne, the Dow is on fire.

NEW YORK (CNNMoney)

The Dow hit the 18,000 milestone for the first time ever Tuesday, putting an exclamation point on a stellar year. Not to be outdone, the S&P 500 is also trading at an all-time high. The two indexes are now up nearly 9% and 13% in 2014, respectively.

The market jump came as investors learned that the U.S. economy grew at an incredible 5% in third quarter. It was the strongest quarter of growth since 2003.

Related: You're saving $550 on gas. Save or spend it?

"The economic recovery seems to stay on track while gradually improving and increasing its rate of growth," wrote David Kotok of Cumberland Advisors, in a note Tuesday morning. "That's good for stocks."

He also credited low interest rates and inflation, as well as corporate profitability, as catalysts for the market's big run.

The so-called "Santa Claus rally" is typical for this time of year, as institutional fund managers load up on winning stocks in an attempt to show investors that they hold the year's top performers in their portfolio.

"It's Beginning to Look a Lot Like Christmas," said Tom Stringfellow, President and Chief Investment Officer of Frost Investment Advisors.

The S&P 500 experienced its 50th record finish of the year Monday, while the Dow closed at its 35th record.

Related: What's wrong with Google?

Even more, investors "have no reason to sell any of their biggest winners and incur a 2014 tax liability in the last few days of the year," said Tim Anderson of MND Partners.

But it the month didn't start out looking like a December to remember. Investors had an early holiday scare as worries began to mount that tumbling oil prices would do real damage to the American energy renaissance. The industry has been a big driver of growth since the recession.

But an overall healthy economic picture and a Federal Reserve determined to keep the market happy by vowing to be "patient" when considering interest rate increases seemed to put an energy fears to bed.

First Published: December 23, 2014: 9:54 AM ET

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Will hedge fund fees come down to earth in 2015?

NEW YORK (CNNMoney)

At the moment, investors typically pay 2% just for the privilege of letting a hedge fund manage their millions.

Even if the fund performs horribly, the manager gets to keep 2%.

And that's not all. On top of that, there's a "performance fee" where 20% of all profits go to the manager.

It's like one big bonus, and it's a key reason that top hedge fund managers make billions and land on lists of America's super rich.

Related: The 10 highest paid hedge fund managers

But sophisticated investors have had enough. They are bargaining more aggressively on fees now.

Paul Pagnato of High Tower, which manages money for about 80 high-net worth families, told CNNMoney his firm has moved to a "success fee only" format with two hedge funds. That means they only have to pay the fund manager if he or she delivers performance above zero.

They are saying goodbye to the 2% management fee.

"They liked it and have been very positive," Pagnato said of High Tower's discussions with managers. "They felt good about being innovative. Hopefully, it's something that catches on."

High Tower will now pay a performance fee when a hedge fund returns between 0 and 10% and a higher fee if the manager returns over 10%.

The idea is to incentivize managers to do well -- for themselves and for their investors.

Related: America's largest pension fund is done with hedge funds

Typical hedge fund fees have already come down a notch lately -- to about 1.75% management fee and 18% performance fee, according to David Jallits, head of Global Investment Research at Cambridge Associates, which works with large endowments around the world.

Investors are often able to get discounts when investing in a start up hedge fund. Another growing trend is to get a break on fees if a client is willing to lock up money for a three or five year time horizon.

"Funds want stable money," says Don Steinbrugge of Agecroft Partners, a hedge fund consulting and marketing firm.

But the next phase of fee negotiating is likely to be even more sophisticated. There's increasing awareness among investors over the difference between "alpha" and "beta."

Beta is the returns you derive simply because the market is going up. Think of it as the dumb money. Alpha is the the gain that's truly attributable to the manager's skill at investing.

Related: Is 'smart beta' the next big thing in investing?

"Managers have to truly prove they aren't just scraping beta out of the marketplace. They have to prove they can add alpha," Jallits says.

Soon investors could be able to approach hedge fund managers with data analysis showing that 70% of the return is beta and only 30% is from alpha.

"A manager has to prove the math wrong or be open to lowering their fees," Jallits believes.

2014 has been an interesting year for hedge funds. It's seen the largest number of fund closures since 2009.

But that doesn't mean there's less money flowing in. In fact, hedge funds have the highest amount of assets ever, according to an analysis by Steinbrugge.

Of course, no one is expecting top managers to earn less. The key is to ensure that you're paying for alpha performance.

First Published: December 22, 2014: 7:46 AM ET

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Bruce Willis' favorite Russian bank collapses

LONDON (CNNMoney)

The Hollywood hard man has been promoting Russia's Trust Bank for four years, and recently starred in a TV commercial with the catch phrase "Trust me, Trust Bank."

"In this ad for Trust Bank, I wanted to play a hero rescuing people trapped in a burning elevator. We just wanted to tell you about our terrific loans," says the star of the 'Die Hard' series of movies.

Clearly it's a message that's fallen on deaf ears in Russia, where confidence in the financial system has been rocked by a collapse in the ruble and rocketing interest rates.

Russians have been rushing to withdraw rubles and convert them into dollars, worried about the devaluation and the soaring price of imported goods.

Related: Putin blames the West for Russia's misery

The rates Russian banks lend to each other have more than doubled in the past month -- overnight rates now stand at 25% -- indicating just how serious the funding crisis has become.

Russia's central bank said Monday it would provide an emergency loan of 30 billion rubles ($545 million) to keep Trust Bank afloat and protect customers' deposits while it engineers a longer term bailout involving a bigger Russian bank.

The ruble gained ground Monday, after bouncing off a record low against the dollar last week as Russia drained billions more from reserves to buy its currency, and announced a series of measures aimed at shoring up the banking industry.

They include a plan to pump one trillion rubles ($16 billion) into Russian banks next year, and new deposit insurance that guarantees savings up to 1.4 million rubles ($23,200).

Former finance minister Alexei Kudrin said Monday Russia was entering a full blown economic crisis, with GDP likely to contract by 4% in 2015 if oil prices continue to trade around $60 a barrel.

Russian media quoted Kudrin as saying he expected a series of defaults next year and that the country's credit rating would be cut to junk.

Read next: Saudi Arabia: We'll never cut oil production

First Published: December 22, 2014: 8:45 AM ET

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All Sony wants to Christmas is ...

NEW YORK (CNNMoney)

That's obviously the last thing Sony wants. What the studio wants, instead, is a reprieve from the month-long ordeal that has crippled its operations and captivated the rest of the media world.

If the company had a Christmas list, this is what would be on it:

-- For the leaks to stop

The hackers have been threatening to release more damaging, embarrassing information about Sony (SNE) if "The Interview" is ever released.

That's why some observers interpreted last week's removal of the movie from theaters as an attempt to forestall any more leaks. But now that Sony is reconsidering its release, the studio has to be dreading more surprises.

-- A way to release "The Interview"

After canceling the Christmas theatrical release of Seth Rogen's controversial comedy, Sony is now seeking a new way for the public to see it. "We're still exploring options for distribution," a Sony spokesman said Sunday.

-- Support from other companies

Sony says it can't do it alone. Earlier this month, executives lamented the relative lack of backup from other Hollywood studios. On Friday, the association that represents all the studios weighed in with a strong statement, calling the hacking "a despicable, criminal act."

Now the studio needs backup from distributors. Netflix (NFLX, Tech30), YouTube and the association of major movie theater owners have all declined to comment on the possibility of partnering with Sony to release the movie -- for now.

-- And for the lawsuits to stop

Four lawsuits now claim that Sony was negligent for failing to stop November's cyberattack. One of the suits calls what happened "an epic nightmare, much better suited to a cinematic thriller than to real life."

The lawsuits are a reflection of the anger among past and present Sony employees. The company's bosses will be relieved -- and lucky -- if no more suits are filed.

-- A successful release of "Annie"

The family-friendly movie "Annie" could be the studio's one glimmer of good news this month. It opened in theaters on Friday and made $16 million over the weekend -- a decent but not particularly impressive debut, given its $65 million budget.

Sony is hoping the film will gain some more momentum over the Christmas and New Year's weeks.

First Published: December 22, 2014: 9:40 AM ET

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Republicans to theaters: Don't be 'bullied,' show Sony's 'The Interview'

NEW YORK (CNNMoney)

In a letter obtained first by CNN, RNC chairman Reince Priebus encouraged the CEOs of 10 major theater chains to show the controversial comedy starring Seth Rogen and James Franco.

"I want to speak clearly on behalf of the Republican Party: I urge you to show the movie," he wrote to the CEOs.

"As a sign of my commitment, if you agree to show this movie, I will send a note to the Republican Party's millions of donors and supporters urging them to buy a ticket -- not to support one movie or Hollywood, but to show North Korea we cannot be bullied into giving up our freedom," he added.

The letter continued, "Like many Americans, I'm deeply concerned that we would allow a foreign regime to dictate the movies we can and cannot watch."

The RNC petition underscored the increasingly political nature of the fracas surrounding the film and the devastating cyberattack that was directed at Sony Pictures one month before its scheduled release.

This weekend the embattled movie studio is in active discussions with potential distribution partners, figuring out if there's a way forward for the film that provoked the attack, an FBI investigation and a presidential critique of the company.

Sony representatives declined to comment on the RNC letter.

A spokesman for the association that represents theater owners did not immediately respond to a request for comment.

When debating whether to screen "The Interview" -- if Sony were to reverse its decision -- the owners have to consider a complicated set of factors, including customers' concerns about security, commitments to screen other films, and overall revenue potential.

President Obama calls out Sony: The letter comes one day after President Obama publicly chastised Sony for canceling the movie. Sony "made a mistake," the president said at an afternoon news conference.

Obama's comment led Sony Pictures CEO Michael Lynton to tell CNN's Fareed Zakaria that the president -- and others -- were "mistaken" about what had happened.

"We do not own movie theaters," Lynton said. "We cannot determine whether or not a movie will be played in movie theaters."

Lynton indicated that it was the theater owners that backed away from the film following a Tuesday threat from hackers that invoked 9/11.

Sony then canceled the film's Christmas release. But it is now seeking help to distribute the film in theaters or online.

Issue 'goes far beyond politics': The letter marks a strange bedfellows moment in the controversy over the movie, as the RNC itself acknowledged.

"As you know, the Republican Party and Hollywood have at times been at odds," the letter states. "But we can all agree that the current situation regarding the release of 'The Interview' goes far beyond politics. It is about freedom and free enterprise."

It also suggested to the theater owners and Sony (SNE) that "a share of the profits be donated to the USO or the Yellow Ribbon Fund."

The letter contributed to a feeling of national unity with regard to freedom of expression. Similar sentiments have been heard on television, in newspaper op-eds and on social media.

But at the same time, the letter did include a political shot across the aisle, accusing Obama of sending "mixed messages on this issue."

An RNC spokesman said "mixed messages" referred to the contrast between the president's comments in an ABC interview on Wednesday -- when he passed on an opportunity to criticize Sony -- and Friday, when he did.

However, the ABC interview was taped before Sony pulled the film from Christmas release.

Online reactions to the letter varied on Saturday night: While some people decried it as a publicity stunt, others said it was a necessary statement that might increase public pressure on Sony and the theater owners."

First Published: December 20, 2014: 6:00 PM ET

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Another blackout for Dish customers, this time Fox News

NEW YORK (CNNMoney)

This time it's Fox News, one of the most popular cable channels in the United States. The channel disappeared from Dish (DISH)'s lineup shortly after midnight Eastern time because Dish's contract to carry Fox News expired before it could be renewed.

Early Sunday morning, the two sides traded barbs about the reasons for the blackout, and Fox News urged its fans to switch to another television provider.

Dish replaced Fox News with The Blaze, the relatively new cable channel owned by Glenn Beck. It replaced the much smaller Fox Business Channel, which was also blacked out, with CNBC.

In its 18-year history, Fox News has never been blacked out by any major television distributor. This dispute will be particularly interesting to watch because Fox has an extraordinarily loyal audience -- a "base," so to speak, that might be motivated to drop Dish.

That's what Fox says it wants.

"Dish prematurely ceased distribution of Fox News in an attempt to intimidate and sway our negotiations," Fox News executive vice president of distribution Tim Carry said in a statement early Sunday morning.

"It is unfortunate that the millions of Fox News viewers on Dish were used as pawns by their provider. Hopefully they will vote with their hard earned money and seek another one of our other valued distributors immediately."

Encouraging viewers to switch providers is a common channel owner tactic in standoffs like this one. If history is any guide, Fox's parent company Twenty-First Century Fox (FOX) wants Dish to accept higher rates for Fox News and restore the channel as soon as possible.

The blackout comes one month to the day after CNN (the parent of this website) and other channels owned by Turner Broadcasting returned to Dish's lineup. That disruption lasted for one month and weakened CNN's ratings, since Dish beams TV to about one in every seven U.S. households that subscribe to some form of TV package.

More recently, the CBS broadcast network was blacked out for about 12 hours in some major markets due to a separate dispute between Dish and CBS Corporation (CBS).

Related: AMC uses 'The Walking Dead' to pressure DirecTV

Earlier this week, Fox News Channel's parent company 21st Century Fox started to warn that another blackout was looming. On Saturday, Fox ran warnings on-screen that urged its fans to lobby the satellite provider and said "don't let Dish control the news you watch."

After the blackout began on Sunday, Fox's web site about the negotiations echoed that message.

But Dish's point of view is that it is being aggressive on behalf of its customers, attempting to limit price increases for channels that inevitably get passed on through monthly bills.

The company said in a news release that Twenty-First Century Fox "introduced other channels into negotiations despite those channels not being included in the contract up for renewal."

Related: FCC throws out NFL blackout rule

"It's like we're about to close on a house and the realtor is trying to make us buy a new car as well," Warren Schlichting, Dish's senior vice president of programming, said in an early morning statement.

"Fox blacked out two of its news channels, using them as leverage to triple rates on sports and entertainment channels that are not in this contract."

He added, "We regret the service disruption to our customers, and remain committed to reaching an agreement that promptly returns this content to Dish's programming lineup."

First Published: December 21, 2014: 9:46 AM ET

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Is the oil scare over for the stock market?

NEW YORK (CNNMoney)

So is the oil shock over?

It depends. If you're a worker in the energy industry and live in Texas, you could feel some pain. But for everyday Americans, there's no reason to start sweating yet.

The U.S. economy is strengthening, and the Federal Reserve will seemingly will do anything to appease the stock market (you can thank Federal Reserve chair Janet Yellen for the 421-point rise in the Dow last week). These two factors are the main reason that experts are bullish about U.S. stocks in 2015.

While there could still be market wobbles in the coming days, your portfolio's oil troubles may seem like a distant memory soon.

Related: The best thing to do now for your portfolio

Oil stimulus: At its core, the U.S. economy is a consumer-driven one. So cheap gas is never a bad thing.

"Pull up to the pump at any gas station, and all you see are smiling faces," wrote Wells Fargo Advisors Senior Equity Strategist Scott Wren in market commentary last week. "And since these are Americans with dollars to burn, our guess is that this new-found money will indeed be spent - and spent quickly."

Yellen called these low prices a "net positive" for the U.S. economy, despite the headwinds it's creating for the shale oil boom.

It's not just consumers and those that cater to them that stand to benefit. Manufacturers and transportation companies should also feel the good oil vibes, Wren noted. Indeed, airlines have already taken off big time, partially due to inexpensive jet fuel.

Related: The best stocks of 2014

Upbeat economy: Despite some signs of weakening global growth, there are signs that the U.S. economy is revving up for real this time.

Employers added 321,000 jobs in November, making 2014 the strongest year for job growth since 1999. Gross domestic product, meanwhile, grew at an impressive 3.9% last quarter.

"The U.S. economy's role as the dog wagging the global economic tail likely will continue, with the robustness of the U.S. economy allowing it to buffer any global shocks," said strategists from Russell Investments in their 2015 outlook report.

Fed lovefest: Since the financial crisis, the Fed has been the best friend the market could ask for. And that bond doesn't appear to be breaking any time soon.

While investors had been nervously playing the guessing game trying to figure out when interest rates will rise, the Fed signaled earlier this week that it plans to take its sweet time in deciding when to do so.

That helped spark the biggest single-day rally in the Dow in over three years this week.

Related: Yellen: Cheap oil is good for America

"The Fed is clearly cautious about doing anything that could damage the economic recovery," noted USAA Investments in a research report. "Absent any notable increase in inflationary pressures, we believe the Fed will embrace 'lower for longer' when it comes to rates in an effort to solidify economic growth."

There's always a 'but': For all the reasons stock investors shouldn't worry about oil, there are things to keep an eye on. The energy sector, for instance, could be in for a long struggle if oil prices remain depressed. Companies with less than stellar credit that borrowed heavily to finance projects could be in particular trouble, and any defaults could reverberate across the wider high yield debt market.

Even the big guys like Exxon Mobil (XOM) and Chevron (CVX) could feel the pain, asserted Fadel Gheit, an energy analyst at Oppenheimer and Co. Those stocks have the potential to affect the broader market because of their mega market capitalizations. Some large energy producers, like ConocoPhillips, have already said they're cutting back spending due to the drop in oil prices.

Gheit predicts a wave of consolidation in the industry. He argues that as stand-alone entities, it will be almost impossible for energy companies to match the expected earnings' loss through cost cuts alone.

"The industry is ill-prepared to face the current levels of oil prices," he asserted. "The industry became complacent and they dropped their guard."

First Published: December 21, 2014: 9:18 AM ET

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Last-minute Christmas shopping guide

NEW YORK (CNNMoney)

You've already missed the deadline for free shipping from Amazon (AMZN, Tech30), for example. (It was Friday.)

But the online store says gifts ordered as late as Tuesday can still be under the tree on Thursday if you pay for one-day delivery. Some customers in major cities can even place orders by 10 a.m. on Christmas Eve and receive same-day delivery.

Hitting the stores: If you want to do your last-minute shopping the old fashioned way, expect stores to be crowded and lines to be long this weekend.

Many stores like Target (TGT) and J.C. Penney (JCP) will be open for extended hours.

Toys 'R' Us and Kohl's (KSS) will be remain open all hours until Christmas eve.

Shopping online: And you can also shop online at these same stores.

Walmart's (WMT) free shipping deadline passed (last Wednesday), but "rush shipping" is available through Monday for a fee. And if the item is in stock at a nearby store, orders for in-store pickup can be placed even on Christmas Eve.

There's still time for free shipping through Best Buy (BBY). It says orders over $35 placed by 11:30 a.m. ET on Monday qualify for free delivery by Christmas. It also offers free in-store pickup.

The deadline at Kohl's and Target is Saturday. Sears' and Macy's is Monday.

Last call at the Post Office: If you already have a gift you have to mail, that clock is ticking, too. The U.S. Postal Service will accept packages through Tuesday for Priority Mail Express. You can save a few bucks -- and time in line -- by dropping off the package by Saturday and using First Class Mail (for Christmas cards) or Priority Mail (for packages).

The deadline for Thursday delivery from UPS (UPS) and FedEx (FDX) is Tuesday.

Related: Toys 'R' Us extends hours for last-minute shoppers

Related: Mall Santa 101

First Published: December 20, 2014: 7:21 AM ET

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How has middle class Christmas changed?

NEW YORK (CNNMoney)

CNNMoney wants to know what was under your Christmas tree 30 years ago (Think: Trivial Pursuit, Cabbage Patch dolls, Transformers) and what are you wrapping this year (Think: iPhones, Fitbits and PlayStation)?

Do you, your kids or grandkids expect more expensive presents nowadays? Is it more than you gave or received 30 years ago?

Tell us about it.

First Published: December 19, 2014: 7:40 PM ET

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A defiant Sony scrambles to find a way out for 'The Interview'

NEW YORK (CNNMoney)

This weekend the embattled movie studio is in active discussions with potential distribution partners, figuring out if there's a way forward for the film that provoked a crippling cyberattack, an FBI investigation and a presidential critique of the company.

Netflix (NFLX, Tech30), YouTube and major movie theater owners are not commenting.

But CNN's Fareed Zakaria, who interviewed Sony Pictures CEO Michael Lynton on Friday, said later on CNN that he came away with the sense that "Sony intends to release this movie in some form, relatively soon. I don't think we're talking about six months from now. This movie will be seen."

What was just a lousy comedy a few short days ago is now a symbol of two essential American values -- freedom of expression and freedom from fear.

On Tuesday, the hackers that previously stole terabytes of data from Sony's servers explicitly targeted the Christmas release of "The Interview" by issuing a message that invoked 9/11. They warned Americans not to venture to movie theaters playing the film.

Sony then signaled that movie theater owners could back out of plans to screen the film if necessary -- and they did just that, like a series of falling dominoes.

The owners were concerned that families would forgo holiday season trips to the movies due to safety concerns and hurt every big Christmas film release, not just "The Interview."

So on Wednesday, with virtually nowhere to show the film, Sony canceled the Christmas release. (Lynton told Zakaria that the studio tried and failed to find a digital distributor, so it ruled out an immediate online release, too.)

Backlash to the decision was ferocious.

On Friday, President Obama echoed the feelings of many in Hollywood when he said Sony had made a mistake: "We cannot have a society in which some dictator someplace can start imposing censorship here in the United States."

Obama also openly worried about the possibility of producers and distributors "engaging in self-censorship because they don't want to offend the sensibilities of somebody whose sensibilities probably need to be offended."

Related: Sony exec fires back at President Obama

Speaking to Zakaria shortly after the president weighed in, Lynton said he essentially agreed with the president -- but that Sony (SNE) couldn't go it alone.

"We don't have that direct interface with the American public," Lynton said. "So we need to go through an intermediary to do that."

Theoretical distributors include theater chains like AMC and Regal, if they're willing to reverse their prior decision; cable video-on-demand operators like Comcast (CCV) and Time Warner Cable (TWC); subscription streaming sites like Netflix and Amazon (AMZN, Tech30); and movie rental services like iTunes by Apple (AAPL, Tech30).

Sony Pictures has a video streaming site of its own, Crackle, but it's free for users and doesn't have the capability to charge customers to watch a movie. Charging for "The Interview" would help Sony recoup some of the movie's $44 million budget.

One of the studio's sibling divisions, Sony Computer Entertainment, has another route to consumers: the PlayStation Store, which lets owners of the video game console rent or buy movies via the Internet. The company has declined to comment on whether it might choose to release "The Interview" there.

Of course, Sony -- and any company that helps it release the film in the future -- has to consider the risk of further intrusions by the hackers and further leaks of the stolen data they already have.

In a threatening message to executives on Thursday night, an anonymous hacker said Sony was "very wise" to cancel the film and claimed they would "ensure the security of your data unless you make additional trouble."

Releasing the film in some form would presumably be considered "additional trouble."

Related: Hackers send a new message

But among all the emotions that are spilling forth from Sony's leaders -- anger, fear, frustration -- a new one has emerged: defiance.

Lynton told Zakaria that "we're trying to weigh the options as to how we can get this" released.

Disappointment inside the studio about the lack of support from other major Hollywood players is beginning to subside.

After weeks of almost nothing but silence, The Motion Picture Association of America spoke out forcefully on Friday, following the FBI's statement that North Korea was behind the late November cyberattack.

Lynton, who was in New York on Friday night, awoke on Saturday morning to a front-page New York Times column that expressed "disgust" at the "readiness of theater owners and Sony to cave in to far-fetched threats."

But there was also this call by the New York Daily News editorial board: "Patriotism demands: Show the movie and show it now."

Meantime, the studio released another movie on Friday -- the highly-anticipated "Annie." It had leaked onto illegal film-sharing web sites after the cyberattack, but it is still expected to earn tens of millions of dollars.

"It's a rare bit of good news for Sony," The Hollywood Reporter said, for a studio that needs some.

Related: N. Korea blasts 'childish attempt to frame us'

First Published: December 20, 2014: 9:16 AM ET

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All I want for Christmas: Boobs

A new Christmas tradition: Plastic surgery.

NEW YORK (CNNMoney)

That may be a riff on the original, but it's a tune many are singing this holiday season, as more people are asking Santa to go under the knife.

Holiday gift giving has become a staple at many cosmetic surgery practices, and the popularity has grown over the last several years, according to Tom Seery, Founder and CEO of RealSelf.com, a consumer website for patients considering cosmetic procedures.

Seery said that people are widely more accepting of nips and tucks than they used to be, and the fact that it's become more mainstream makes people more comfortable admitting they want something done.

According to the American Society of Plastic Surgeons, 15.1 million people had cosmetic procedures in the U.S. in 2013, up 104% from 2000.

"Because of that, cosmetic surgery is much less of an awkward conversation to have around the dinner table,"Seery said.

The most common plastic surgery gifts to give are anything involving the face -- from fillers to lifts -- and breast augmentations, according to Dr. Yoel Shahar, a plastic surgeon in New York.

The Christmas season is the busiest time of year for most plastic surgeons, because people have time off to get the procedures and then recover.

Related: Why so many men are obsessed with 'Bro-tox'

This year, Heidi, a mother of three living on Long Island, NY, won't be looking for the jewelry box her husband usually leaves under the tree. Instead, she's getting a new kind of gift -- money toward the facial filler Juvederm, which she'll have injected into the area under her eyes at Marotta Facial Plastic Surgery Center.

"I was so excited when he told me, because I'm always complaining that I look so tired and my husband knows this," said Heidi, who requested that we not use her last name.

Cosmetic surgery is a major splurge, so it's an obvious choice for a gift wish list. The average cost of breast augmentation surgery was $3,678 in 2013, according to the American Society of Plastic Surgeons. The average face lift cost was $6,556 and a tummy tuck was $5,217.

As in Heidi's case, the majority of these gifts come from a significant other. A survey of RealSelf community members found that, of those who had gotten some kind of a procedure as a gift, 75% received it from their romantic partner or spouse.

But this gift idea comes with a caveat: About one third of respondents said they'd be offended if a family member, romantic partner or a friend gifted them a cosmetic procedure.

It could sound downright Grinch-like to give a gift that implies your loved one could use some work, but doctors say that's not generally the case.

Dr. Scot Glasberg, a private practice plastic surgeon based in New York City, and president of the American Society of Plastic Surgeons, said he sees procedures being gifted all the time, but usually the patient has already had a consultation and has independently decided to have work done. The third party is only involved in the payment part, not the decision to do it.

Glasberg recently met with a patient that had come to him solo for a breast augmentation. But the check came from her boyfriend, who paid for the procedure as a Hanukkah gift.

"There are a lot of red flags as a surgeon, once you hear the word gift," he said. "The key is to make sure they're getting it for the right reasons -- to help with body image or self-esteem, not as a way to enhance a relationship."

Related: Mall Santa 101: The making of the perfect Mr. Claus

Heidi thought her husband's gesture meant he had been listening to all her complaining and had gotten her what she really wanted.

"I thought it was very thoughtful that he cared that much, and you know, happy wife, happy life."

First Published: December 19, 2014: 9:51 AM ET

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Why North Korea's attack should leave every company scared stiff

NEW YORK (CNNMoney)

The attack on Sony (SNE) Pictures inflicted crippling damage in a way that past hacks have not. Stolen corporate secrets, customer passwords and credit card numbers from previous cyberattacks haven't left a lasting impact on companies, and they haven't kept their customers away.

By succeeding in its mission to get Sony to pull "The Interview," hackers have provided a blueprint for really hurting American companies: Break into their computers, steal data, erase files, expose private documents, then make a physical threat.

"The problem now is not the hack. It's how Sony responded to it. It's the cave-in," said Peter W. Singer, a renowned author of several books on cyberwar. "They rewarded and incentivized attacks on the rest of us."

Sony's attack was sponsored by North Korea, U.S. government officials are preparing to announce. Unlike most attacks conducted by Russian and Chinese hackers, North Korea's hackers were relentless. They completely embarrassed Sony and made movie theaters afraid to carry its film.

In the past, most U.S. corporations have brushed off cyberattacks levied against themselves or their peers. That means most are just as unprepared for hackers as Sony was.

After seeing what happened to Sony, companies should be shaking in their boots.

"This sort of attack could be reproduced using the same techniques," said Orla Cox, director of security response at Symantec (SYMC, Tech30). "This should be a wake up call for organizations,"

Sony's attack was frightfully easy to pull off. This could have been the work of a tiny team of bright computer programmers -- maybe as small as three people, said Kaspersky Lab security researcher Roel Schouwenberg. In fact, the whole operation could have been outsourced to hackers-for-hire, noted Art Gilliland, general manager of security for HP (HPQ, Tech30).

Now, companies must make a calculated decision every time it gets aggressive with a competitor or makes a controversial move. Hackers could be lurking to take them down.

"Media, pharmaceutical, energy companies. Everybody's got enemies," said Craig Carpenter, president of Resolution1 Security. "This Sony hack shows you can be brought to your knees if you're not capable of shutting something like this down before it gets out of hand."

But stopping cyberattacks takes a big investment -- one that companies so far have been unwilling to make.

The barrage of cyberattacks is nonstop. Computer alarms go off maybe 5,000 times a day at a large company like Sony, Carpenter said. Every time an employee visits a sketchy website or a new app enters the network, an alarm goes off. In many cases, those must be manually checked by a member of the company's security team.

The workload outpaces the number of workers assigned to keep companies safe. That's how hackers slip in unnoticed and start their work. On average, it takes a company 243 days to discover a breach, according to the M-Trends 2013 report by Mandiant, a computer security consultant.

Once upon a time, companies only had to worry about cybercriminals trying to steal credit cards or foreign government spies seeking company secrets to assist competitors.

Now, the list of worries could include the Islamic State -- or any other small, determined group who thinks they've been offended.

"Who should companies fear? Anyone that wants to do harm to a corporation," said Lee Weiner, an executive at Rapid7. "It's very hard to define who that could be. Are they hacktivists? Cybercriminals? Chaotic actors? It's hard to quantify that today."

Related: Activists plan to drop 'Interview' DVDs in North Korea

Related: Movies are the least of Sony's problems

Related: How safe are you? CNN's cybersecurity magazine

First Published: December 19, 2014: 9:29 AM ET

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