Tuesday morning headlines

Stocks open higher: The Dow is pulling back to about 30 points on the plus side, perhaps influenced by the lower GDP number.

Slower-than-expected growth: Now the government is saying that the economy grew at a 2.2 percent pace in the third quarter, not the 2.8 percent that was estimated just a month ago (or the initial 3.5 percent estimate). From AP:

The main factors behind the downgrade: consumers didn't spend as much, commercial construction was weaker, business investment in equipment and software was a bit softer and companies cut back more on inventories, according to Tuesday's report.

Hacking at Citi: WSJ reports a major computer-security breach that resulted in a theft of tens of millions of dollars. The hackers appear to be linked to a Russian cyber gang.

The threat was initially detected by U.S. investigators who saw suspicious traffic coming from Internet addresses that had been used by the Russian Business Network, a Russian gang that has sold hacking tools and software for accessing U.S. government systems. The group went silent two years ago, but security experts say its alumni have re-emerged in smaller attack groups. Security officials worry that, beyond stealing money, hackers could try to manipulate or destroy data, wreaking havoc on the banking system. When intruders get into one bank, officials say, they may be able to blaze a trail into others.

Brits back merger: Regulators are signing off on the proposed joining of locally based Ticketmaster and Live Nation, noting that the deal will not result in any lessening of competition. U.S. officials are still reviewing any antitrust issues. (NYT)

Yelp says no: Or was it Google? However it happened, the purchase of the online service by the search giant for upwards of $500 million is off. Just a few days ago, the deal seemed all but certain. (Bits)

Starz hires Albrecht: That would be former HBO chief Chris Albrecht, who is still known for allegedly assaulting a woman in Las Vegas a couple of years back. But he's also known for his skills on the creative end - Albrecht has been named president and CEO. (Deadline.com)

Gas edging downward: Another small dip - average gallon in the L.A. area is $2.949, according to the government's latest survey.

Bruce Willis into vodka: He's taking a 3.3 percent stake in the French company Belvedere, which makes the Sobieski brand (the family name of Polish monarchs). (CNBC)

Lacter on radio: This week's business chat with KPCC's Steve Julian looks at the gloomy mood among most Californians when it comes to the economy. Also on kpcc.org and on podcast.