BUSINESS NEWS MARCH 16TH, 2016
FED TO KEEP INTEREST RATES STEADY
Amid concerns over a slowing global economy and domestic inflation, the Federal Reserve is expected to hold interest rates steady. In December, the Fed raised interest rates for the first time in over a decade. However, during a meeting about weaker oil prices, it became clear that there was still some caution when it comes to the state of the United States economy. Despite these concerns, recent data has shown that domestic inflation is starting to ease, and there is little danger that the slowing of the global economy could derail United States markets.
STARTUP AIDS LATINO SMALL BUSINESSES
Sean and Kenny Salas founded Camino Financial, a website that connects first time business owners in need of a loan with those who can provide that loan. The brothers came up with this idea while they were at Harvard Business School. They remembered how their mother had to close her restaurant due to a lack of funding. As a result, the family had to move away from their hometown back to Mexico. Sean Salas said that this kind of story is increasingly common among Latino entrepreneurs. They lack financing and access to capital in order to keep their business growing.
FITBIT CORPORATE ESPIONAGE TAKES STRANGE TURN
Jawbone, a consumer technology and wearable products company, has said that Fitbit employees stole over 335,000 of its files. In a case that has been dragging on since May 2015, Jawbone first said that Fitbit stole five of its employees, who then stole Jawbone files while transferring to their new jobs. A forensic analysis of Fitbit’s computer storage revealed evidence of the numerous files that Jawbone claimed Fitbit stole.
LARGEST U.S. COAL COMPANY MAY GO OUT OF BUSINESS
The coal industry is battered, and on the brink of collapse. Peabody Energy, the world’s largest private sector coal producer, warned that it might go out of business. Last year, the coal company recorded a loss of $2 billion. As coal prices fell, the shares of Peabody tumbled nearly 17%. In the last two years, the coal producer shares tumbled nearly 98%. While Hillary Clinton has said that she will do everything possible to fight the coal industry, it might be for naught, as the coal industry is already dying.