CNN Money: Top business headlines for May 24

    6:02 AM, May 24, 2013   |    comments
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    NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Friday, May 24.

    4 federal agencies to shut Friday
    Got a question about tax refunds, polluters or subsidized housing? Don't expect an answer this Friday. That's because four federal government agencies will be closed on Friday, including the Internal Revenue Service, the Department of Housing and Urban Development, the Environmental Protection Agency and the White House Office of Management and Budget. Employees at all four agencies will be on furlough that day. They include nearly 115,000 workers -- or more than 5% of the 2 million-strong federal workforce -- who are being forced to spend Friday at home without pay. It was triggered by the sequester, or the March 1 federal spending cuts that shaved $85 billion from government agencies and programs through Sept. 30.

    New startups prime targets for cyberattacks
    Startups take note: Cybercriminals are onto you. Cyberattackers can sniff out new businesses to target as quickly as two months after they come into existence, according to a new report from cybersecurity firm Symantec. By the time a startup is five months old, it has already been targeted by hundreds of spam messages and malware. Once a new business sets up a website and its first emails and instant messages are exchanged, cyberattacks are triggered almost immediately, the report said.

    AT&T imposes new 61-cent monthly wireless fee
    AT&T Inc. has added a new monthly administrative fee of 61 cents to the bills of all of its contract wireless lines as of May 1, a move that could bring in more than a half-billion dollars in annual revenue to the telecom giant. Other carriers also have so-called "below-the-line" fees, named that because they frequently appear at the bottom of the phone bill after the service charges. Such fees help boost revenue growth in a massive organization, but consumer groups criticize them because they are less likely to be noticed by users and allow carriers to advertise lower prices than they actually charge.

    UA, ASU boards approve tuition hikes
    Two of the state's biggest universities on Thursday approved tuition increases for their flagship campuses. The University of Arkansas System Board of Trustees approved a 3.5 percent increase in tuition and fees for its Fayetteville campus beginning with the fall 2013 semester. Meeting on the same day, Arkansas State University's board approved a 3.3 percent increase for its main campus in Jonesboro. At UA, the move brings the average price of undergraduate in-state tuition and fees to $7,818 for two full semesters (30 credit hours). The UA calls the increase the "second smallest percentage hike in at least 18 years" and said it represents an average increase of $246 per student. At ASU, the increase represents an average increase of $165.



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