Business

Business

Pressure builds up in Athens to fix deal

Despite showing promising signs of a recovery in its economy, Greece was unable to finalize the terms for its third bailout program in a recent meeting with its creditors. Talks between the two sides fell apart after Europe’s most indebted country reported that only one-third of the prerequisites required for the bailout were implemented. In…

Business

Trump takes aim at US trade policies

After his first full week in the Oval Office, President Donald Trump has shown that his time in office will be unlike any other in recent history. Over the last 18 months, Trump voiced his disapproval with the previous administrations’ trade deals, which, in his opinion, hurt the U.S. economy. The Trans-Pacific Partnership and North…

Starbucks CEO steps down
Business

Starbucks CEO steps down

Starbucks shares fell roughly three percent in premarket trading percent following the announcement of the resignation of its CEO, Howard Schultz, on Dec 1. Schultz, who has worked for Starbucks as CEO over the last eight years and also served in the position between 1987 and 2000, will now shift his focus in the company to…

Business

RBS shares fall after failed stress test

The Royal Bank of Scotland has failed the Bank of England’s annual stress test, which measures a bank’s ability to endure financial crises, such as recessions. Ordinarily, the BOE uses this test to identify any weaknesses in a major bank’s system. The uncovered issues point to Britain’s lingering inability to fully bounce back from the…

Business

Pressure builds up in EU following Italy’s shocking referendum loss

After a defeat in a constitutional reform referendum, Italian Prime Minster Matteo Renzi has resigned as he previously promised in case of a “no” vote to the constitutional revision plan. This referendum was meant to strengthen Renzi’s hand by stripping the Senate of its many legislative powers and speeding up the decision-making process. With 59.1…

System-wide investigation uncovers fund misuse in CUNY colleges
Business

System-wide investigation uncovers fund misuse in CUNY colleges

After the former president of City College of New York resigned without an explanation earlier this year, it was suggested that CUNY funds were not being allocated appropriately. As a result, the CUNY board of trustees requested a system-wide probe to identify and reverse the misuse of funds in every school. Lisa Staiano-Coico graduated from…

Business

Facebook plans expansion to China

Facebook recently developed software to censor posts on its news feed in an attempt to appeal to China, a market where the social network has previously been blocked. The software will prevent content from entering feeds altogether, instead of blocking content the way Facebook does in countries such as Pakistan, Russia and Turkey. Facebook itself…

Business

Federal courts block Obama’s expansion of overtime pay rule

A federal judge has issued a nationwide preliminary injunction to President Barack Obama’s overhaul of the Fair Labor Standards Act, which would have created new standards for overtime pay. The Department of Labor claims that in its first year of existence, Obama’s plan, referred to as the Final Rule, would have extended overtime eligibility to…

Business

Pilot strike disrupts thousands of flights

Chaos broke out in major German airports after pilots of Deutsche Lufthansa AG entered their 14th strike since early 2014. More than 350,000 passengers who planned to travel for the Thanksgiving holiday were affected by the labor action. The walkout puts further earnings pressure on Germany’s flagship carrier, which has had to contend with weaker…

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