Business

Business

Fed insinuates it will increase interest rates mid-December

A minutes report published by the Board of Governors of the Federal Reserve System on Nov. 18 describes the discussion of Federal Open Market Committee (FOMC) members regarding what it refers to as “policy normalization” during their meetings on Oct. 27 and Oct. 28. An increase in the federal funds rate has been long anticipated…

Business

Microsoft opens flagship store in NYC

The seemingly endless Apple versus Microsoft war will forever be etched in technology history. One area that Microsoft only recently decided to try and break into is the retail market. Since its first store opened in 2001, the Apple Store has permanently changed the way consumers purchase computers and mobile devices. In 2010, Microsoft finally got around…

Business

Government requests for social media data jump

According to a report released by Facebook, there has been an increase in government requests for Facebook user data throughout the world. The online social networking service has released the number of government requests for users’ data and posts that have violated local laws in their respective countries. Also included in the report is updated information…

Business

Court to go forward with insider trading case against Valeant Pharmaceutical

Following months of allegations, California’s District Judge David Carter ruled that Canadian-based Valeant Pharmaceuticals International Inc. and hedge fund manager Bill Ackman would face an insider-trading lawsuit. Carter disagreed with the arguments made by Valeant, activist hedge fund manager William Ackman and Ackman’s Pershing Square Capital Management. They claimed that the companies’ activities did not…

Business

Netflix boosts total user growth, falls short on new US subscribers

Although Netflix has increased international membership in its third quarter, the company’s user growth in the United States has fallen short of expectations, driving its stock price down on the day of its third quarter report. The media streaming company projected that it would add 1.15 million U.S. members during its third quarter. The prediction…

Business

Square files with SEC for IPO, seeks to raise capital for expansion

In an effort to raise an estimated $275 million, Square, a financial services and mobile payment company, has confirmed its plan to introduce an Initial Public Offering. The company has officially registered with the United States Securities and Exchange Commission. Square, which was founded in 2009, is widely known for its payment solutions, including portable…

Business

Authorities arrest individuals on charges of insider trading

Nine individuals have been charged with security fraud, wire fraud and money laundering, according to the SEC. Five of these individuals have been arrested, and there are international arrest warrants for the remaining four. These individuals, officially charged on Aug. 11, have been involved in a five-year scheme of insider trading and hacking. They supposedly…

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