Business

Business

Member-nations of OPEC discuss the possibility of crude oil freeze

The ongoing oil crisis over the past 20 months has forced two major oil-producing countries to strike a deal that could freeze crude oil output in the international market. As of this week, Russia and Saudi Arabia have called for cooperative efforts from smaller oil-producing nations that could eventually stabilize output and bolster the price…

Business

Cameron renegotiates UK membership in the European Union

Following two days of talks with European leaders, U.K. Prime Minister David Cameron proudly announced a renegotiation deal that would reform the relationship between the European Union and the United Kingdom. If one was to believe the pro-Brexit group—people who support the British exit from the EU—the issues that the United Kingdom deals with stem…

Strong sales growth in 2015 promises future success for Tesla
Business

Strong sales growth in 2015 promises future success for Tesla

In a fourth quarter update released on Feb. 10, Tesla CEO Elon Musk predicted a bright future for Tesla, with projections of increased production rates and a growth in sales and profits. Tesla finished 2015 with a $179 million positive cash flow from its fourth quarter core operations—a welcoming change after three quarters of negative…

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…

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