Business

Business

Apple loses $626 million lawsuit over multiple patent violations

Apple Inc. is now required to pay the VirnetX Holding Corporation over $600 million for patent infringements. A Texas Federal court ruled during a retrial this year that the tech-giant illegally used VirnetX’s technology in its popular FaceTime video chat service and virtual private networks’ on-demand services. The trial marks one of the largest patent…

Credit Suisse posts 2015 loss, makes move to wealth management
Business

Credit Suisse posts 2015 loss, makes move to wealth management

After long-standing steady growth, the multinational credit services firm Credit Suisse reported significant losses for the fourth quarter of 2015, capping-off an already sub-par annual report for the year. While the firm’s chief executive Tidjane Thiam strictly downplayed the losses, the company acknowledged a volatile market with liquidity issues, as well as the significant drop…

Shkreli, former Baruch student, faces multiple fraud charges
Business

Shkreli, former Baruch student, faces multiple fraud charges

Following the controversial 5,000 percent price jump of Daraprim, Martin Shkreli continues to make headlines with his fraud-related arrest and a congressional hearing set for Feb. 4. Before delving into the events that unfolded two weeks ago, one must ask: Who is Martin Shkreli? According to BBC, Shkreli is the child of working-class immigrants who…

Business

Roomi provides those seeking roommate a comfortable experience

The trending, mobile-first application Roomi has successfully paired potential roommates through over 200,000 user downloads at a month-over-month growth rate of 30 percent. Developed by founder and CEO Ajay Yadav, the free mobile app was created to give users a medium through which they could post available spaces, connect with potential roommates on securely-searched platforms…

Apple first quarter report falls short on sales, share price drops
Business

Apple first quarter report falls short on sales, share price drops

On Jan. 26, 2016 Apple Inc. issued a press release that addressed its first 2016 quarterly report. While the response of the company itself remained positive, its projections for the following quarter were more reserved. This, along with performance results under market expectations, was enough to make investors’ outlooks less optimistic, causing the company’s shares…

Business

All-day breakfast boosts McDonald’s Q4

March 2015 was the beginning of a revamped business structure for McDonald’s as former CEO Donald Thompson retired and Steve Easterbrook replaced him as president and CEO of McDonald’s. Easterbrook worked to reorganize McDonald’s into four separate markets by July 2015 so the company could be better managed. This change in combination with the introduction…

Business

Bankers leave Goldman Sachs for Uber

Three bankers have left their positions in the technology investment banking group of Goldman Sachs Group Inc. in San Francisco in favor of positions at Uber Technologies Inc. According to reports, the mid-level bankers, Ian Kleinfield, Prabir Adarkar and Chris Lapointe, are three of many to leave Wall Street for opportunities in successful startups launched…

Business

Nordstrom earnings per share falls in Q3

Nordstrom shares tanked as it missed on earnings this quarter. The clothing store reported adjusted earnings per share of $0.57 and revenue of $3.33 billion. Wall Street analysts were expecting earnings per share of $0.72 and revenue of $3.37 billion. The company reported that it will take a deduction of $0.15 per share due to…

Business

Barclays fined $109 million for improper security procedures

The Financial Conduct Authority announced that Barclays, the universal bank, has been fined 72 million pounds, or $109 million, for its elaborate plan to hide transactions worth 1.88 billion pounds, or $2.83 billion. The notice appeared on the website of the U.K. regulator on Nov. 26. Based in the United Kingdom, Barclays is a global…

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