Business

Business

SEC charges billionaire fund manager

Following a lengthy investigation, the U.S. Securities and Exchange Commission has filed charges against hedge fund manager Leon Cooperman for insider trading on behalf of himself and his company Omega Advisors. The alleged unlawful trading occurred in July 2010, after Cooperman received word of an asset sale by Atlas Pipeline Partners, a company in which…

Business

Deutsche Bank shares plummet to record lows

Deutsche Bank has been the latest bank to have settlement talks with the U.S. Department of Justice over pre-crisis mortgage-related probes. Following the announcement of the DOJ’s $14 billion settlement offer, the bank’s shares tumbled to a record low, as investors worried that Germany’s largest lender will barely make do with its thin capital position….

Baruch college invites WeWork’s CEO to discuss entrepreneurship
Business

Baruch college invites WeWork’s CEO to discuss entrepreneurship

Co-founder and CEO of WeWork Adam Neumann hosted the Russell Banks CEO Leadership Lecture on Thursday, Sept. 22, in the Newman Vertical Campus. Neumann, an alumnus of Baruch College from the class of 2006, was invited to share his entrepreneurial experience with his alma mater. Students and faculty members interested in learning more about the…

Wells Fargo employees open two million unauthorized accounts
Business

Wells Fargo employees open two million unauthorized accounts

Wells Fargo & Co., which was the biggest U.S. bank by market capitalization up until just a few weeks ago, has found itself at the center of a scandal. Following its $185 million settlement with the Consumer Finance Protection Bureau, the San Francisco-based bank has been under scrutiny for fraudulent sales practices over the last…

Business

FOMC leaves rates unchanged following mixed economic reports

At the conclusion of the Federal Open Market Committee’s September meeting, the Federal Reserve decided not to increase the federal funds rate. The FOMC consists of seven members of the Board of Governors and five Reserve Bank presidents. The committee meets eight times each calendar year to assess the health of the economy. If the…

Business

Samsung under duress as battery fires set off Galaxy Note7 recalls

The U.S. Consumer Product Safety Commission has officially mandated that tech giant Samsung recall over one million Galaxy Note7 devices from the market following reports regarding fire damage caused by the phone’s battery. The report mentioned 92 separate incidents in which the phone’s battery overheated while charging. Of the 92 reports, 26 resulted in burns…

Ribbon cutting ceremony unveils renovated Subotnick Center
Business

Ribbon cutting ceremony unveils renovated Subotnick Center

After 16 years of providing valuable resources and state-of-the-art technology to thousands of Baruch students and faculty members, the Subotnick Financial Services Center received a major upgrade through the contribution of the office of the Manhattan Borough President. The generous donation by Gale Brewer, Manhattan’s borough president, helped make substantial upgrades including LED tickers, LED…

Business

ECB decides to keep rates unchanged despite market uncertainty

Amid recent events surrounding the U.K. referendum vote to leave the European Union, many people are wondering how the vote will affect the economy. On Thursday, Sept. 8, the European Central Bank conducted a conference addressing various economic concerns and plans in regard to the eurozone’s current economic climate. After much anticipation, ECB President Mario…

Business

Disaster ensues as retailers scramble amid Hanjin’s collapse

Weaker global trade and stiffer competition have fueled the downfall for many companies tied to the ailing shipping industry, the most recent downfall being Hanjin Shipping Co. Ltd. The South Korean shipping line, which is the seventh largest in the world, filed for Chapter 11 bankruptcy protection in its home country on Aug. 31 in…

College social media app expands to 30 new campuses in NYC
Business

College social media app expands to 30 new campuses in NYC

Baruch College graduate Andi Muskaj, along with a handle of friends and developers, created an app called “Tapt” that has become successful on several college campuses. Tapt is advertised as a platform for students only, meaning that professors and administrators cannot partake in the app. Tapt administrators work hard to ensure that the app is…

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