2013 Economy & Business Events — Verified Historical Highlights

2013 Economy & Business Events — Verified Historical Highlights | TakeMeBack.to

02 Jan Obama Signs American Taxpayer Relief Act: On January 2, 2013, President Obama signed the American Taxpayer Relief Act into law, averting the fiscal cliff by extending tax cuts for middle-class families and addressing other fiscal issues. source: vnf.com
04 Jan Swiss bank Wegelin closes after tax evasion plea: Wegelin & Co, Switzerland's oldest private bank, announced its closure after pleading guilty in U.S. District Court to charges of assisting wealthy Americans in evading taxes through secret accounts. The bank agreed to pay $57.8 million in restitution and fines. source: cnbc.com
08 Jan AIG Considers Lawsuit Against U.S. Government: AIG, the insurance company that recently repaid its 2008 bailout funds, is contemplating joining a lawsuit challenging the allegedly harsh terms of its government rescue.
09 Jan Death of Nobel laureate James M. Buchanan: James M. Buchanan, an American economist and Nobel laureate, passed away on January 9, 2013. He was renowned for his work in public choice theory, which applied economic principles to political processes. source: nobelprize.org
13 Jan EU Plans Telecommunications Market Consolidation: European Commissioner for Digital Agenda, Neelie Kroes, revealed in a Financial Times interview that the European Union intends to implement regulatory changes later in the year to facilitate telecommunications market consolidation across national borders.
23 Jan World Economic Forum in Davos: The annual World Economic Forum took place in Davos, Switzerland, gathering global leaders to discuss economic and political issues. source: weforum.org
28 Jan Warren Buffett's NYSE Acquisition Attempt: Anonymous sources revealed that U.S. billionaire Warren Buffett attempted to acquire NYSE Euronext in November 2012 but was ultimately outbid by IntercontinentalExchange.
01 Feb Dow Jones surpasses 14,000: The Dow Jones Industrial Average surpassed the 14,000 mark for the first time since the financial crisis, signaling a recovery in the U.S. economy. This milestone was seen as a positive indicator for investors and the market. source: bbc.com
05 Feb Dell Goes Private: After a $24 billion leveraged buyout agreement led by Michael Dell, the computer company announced its intention to transition to a private ownership structure, marking a significant shift in its corporate strategy.
06 Feb Major banking scandal: RBS fined for LIBOR manipulation: On February 6, 2013, the Royal Bank of Scotland (RBS) was fined £390 million for its role in the LIBOR interest rate manipulation scandal. This case highlighted significant issues in banking practices and regulatory oversight. source: bbc.com
07 Feb Department of Energy Credits Project: The Department of Energy announces an initial round of $2.3 billion in credits distributed across 183 projects nationwide, supporting innovation and infrastructure development.
09 Feb UK Horse Meat Scandal Summit: Owen Paterson, UK Secretary of State for Environment, Food and Rural Affairs, convenes an emergency summit with retailers and the Food Standards Agency to address the controversial sale of beef products containing horse meat.
13 Feb Apple's iPhone Trademark Dispute in Brazil: Brazilian regulators denied Apple Inc.'s request to sell phones under the "iPhone" name, maintaining IGB Electronica's trademark rights which were originally granted in 2008. This legal dispute highlights international trademark complexities.
14 Feb Eurozone and Global Economic Challenges: The eurozone experienced its most challenging economic period, with 2012 marking the first year without growth in any quarter since tracking began in 1995. Japan's economy also declined by 0.4%. Notable business developments included a merger between US Airways and American Airlines, and Warren Buffett and Jorge Paulo Lemann's alliance to purchase H. J. Heinz Company for $28 billion.
15 Feb Horse Meat Scandal in British Food Industry: Major British companies Compass Group and Whitbread acknowledge the presence of horse meat in products marketed as beef, highlighting significant supply chain and food labeling issues.
16 Feb G20 Finance Ministers Meet in Moscow: Finance ministers from the G20 nations convened in Moscow, Russia, with a primary focus on discussing and addressing potential currency wars and international monetary policies.
17 Feb Venezuela Launches Granite Processing Facility: The Venezuelan government inaugurated a new granite processing facility in Bolivar state, with an ambitious goal of producing approximately 25% of the country's granite requirements, signaling efforts to develop domestic industrial capabilities.
20 Feb Japan's Record Trade Deficit: Japan experienced a record-breaking trade deficit of 1.63 trillion Japanese yen (approximately $17.4 billion USD) in January 2013, highlighting significant economic challenges for the country.
22 Feb UK Credit Rating Downgrade: Moody's Investors Service downgraded the United Kingdom's bond rating from AAA to AA+, signaling potential economic challenges and reduced investor confidence in the UK's financial stability.
25 Feb BT Expands Sports Broadcasting: Telecommunications giant BT increases its investment in sports broadcasting by acquiring ESPN channels in Britain and Ireland.
27 Feb JPMorgan Announces Significant Job Cuts: JPMorgan Chase plans to eliminate approximately 17,000 jobs over the next two years, with the majority of cuts focused on its mortgage division, reflecting ongoing restructuring in the banking sector.
01 Mar China's economic slowdown indicator released: On March 1, 2013, indicators suggested a slowdown in China's economic growth, raising concerns among global markets. The data indicated a decline in manufacturing activity, which could impact international trade and economic stability. source: reuters.com
03 Mar Swiss Referendum on Executive Compensation: Swiss voters approved significant measures to limit CEO pay and ban golden parachutes, demonstrating a progressive approach to corporate governance and income inequality.
04 Mar Latvia Seeks Eurozone Membership: Latvia applied to join the eurozone in 2014, potentially becoming the 18th member state.
05 Mar Dow Jones reaches pre-crisis levels: On March 5, 2013, the Dow Jones Industrial Average closed at 14,253.77, surpassing its previous record high of 14,164.53 set in October 2007, marking a return to pre-financial crisis levels. source: wsj.com
06 Mar UK payday loan regulation intervention: On March 6, 2013, the UK government intervened in the payday loan market, capping the total cost of credit and introducing stricter regulations to protect consumers from high-interest loans. source: bbc.com
08 Mar Bob Diamond to Receive Controversial Compensation: Bob Diamond, former chief executive of Barclays who resigned following the Libor interest rate fixing scandal, is set to receive approximately £2 million ($3 million) in July.
11 Mar Italian Economic Downturn: Fitch Ratings downgraded Italy's creditworthiness, causing a significant drop in Italian stock market values and highlighting ongoing economic challenges.
16 Mar Cypriot financial crisis bailout agreement reached: On March 16, 2013, Cyprus secured a bailout agreement with international lenders to address its financial crisis, involving significant economic reforms and austerity measures. source: bbc.com
19 Mar Cyprus rejects bank deposit tax plan: On March 19, 2013, the Cypriot parliament rejected a proposed tax on bank deposits, a key condition for receiving a bailout from the European Union and the International Monetary Fund. The decision led to concerns about the country's financial stability. source: bbc.com
20 Mar Cyprus Financial Crisis Bailout: Cypriot President Nicos Anastasiades presented a critical bailout package to address the nation's severe liquidity crisis, signaling a pivotal moment in the country's economic challenges during the European financial instability.
22 Mar Cyprus Financial Crisis Deepens: On March 22, 2013, Cyprus's financial crisis intensified as the government announced plans to seize a portion of bank deposits to secure a bailout from the European Union and the International Monetary Fund. This decision led to widespread protests and concerns about the stability of the banking system. source: reuters.com
23 Mar Cyprus Financial Crisis Developments: On March 23, 2013, Cyprus's financial crisis continued to unfold as the government implemented capital controls to prevent a run on banks following the controversial decision to seize a portion of bank deposits. The European Union and the International Monetary Fund continued to negotiate bailout terms. source: bbc.com
24 Mar Cyprus Financial Crisis Negotiations: Cyprus President Nicos Anastasiades initiated emergency meetings in Brussels in a last-ditch effort to secure a financial bailout for the country.
25 Mar Cyprus reaches bank bailout agreement: On March 25, 2013, Cyprus finalized a bailout agreement with the European Union and the International Monetary Fund to address its financial crisis. The deal included significant measures to restructure the banking sector and implement austerity measures. source: bbc.com
26 Mar Cyprus financial crisis escalates: On March 26, 2013, the financial crisis in Cyprus escalated as banks remained closed and public anxiety grew over the bailout terms. The situation prompted widespread protests and discussions about the future of the economy. source: bbc.com
29 Mar Cyprus Financial Crisis Response: Cypriot President Nicos Anastasiades affirmed the country's commitment to the euro, despite harsh conditions imposed by the 10 billion euro bailout agreement with the European Union and International Monetary Fund, signaling economic resilience.
30 Mar Libor scandal lawsuit partially dismissed: On March 30, 2013, a judge partially dismissed a lawsuit related to the Libor scandal, which involved allegations of interest rate manipulation by major banks. The ruling was a significant development in ongoing legal proceedings surrounding the scandal. source: reuters.com
05 Apr Japan's Nikkei 225 reaches five-year high: On April 5, 2013, following a stimulus plan by the Bank of Japan, the Nikkei 225 stock exchange index reached its highest level in nearly five years. This surge was attributed to investor optimism about the potential economic revival in Japan. source: upi.com
08 Apr Xi Jinping Addresses Boao Forum: Chinese President Xi Jinping opens the Boao Forum for Asia, calling for entrepreneurial unity and shared development across the continent.
11 Apr Major vehicle recall due to airbag defects: On April 11, 2013, a major vehicle recall was announced due to defects in airbags manufactured by a leading automotive supplier. This recall affected millions of vehicles and raised concerns about safety standards in the automotive industry. source: reuters.com
18 Apr Australia-China Trade Negotiations Stall: Australian Trade Minister Craig Emerson reported that free trade negotiations between Australia and China have been suspended due to disagreements over investment restrictions for state-owned enterprises.
25 Apr French Unemployment Crisis: French unemployment reached a record high of 3.22 million people, indicating significant economic challenges.
26 Apr Mexico's Central Bank Maintains Interest Rate: Mexico's central bank decided to maintain its benchmark interest rate at 4.4%, consistent with the previous month's reduction. The decision was made amid rising consumer prices, reflecting careful monetary policy management.
30 Apr Apple's Record Bond Offering: Apple launched the largest non-bank bond offering in history, valued at $17 billion. This significant financial move demonstrated the company's strong market position and financial strategy.
01 May T-Mobile US Stock Market Debut: T-Mobile US made its initial public offering by debuting on the New York Stock Exchange under the ticker symbol 'TMUS', marking a significant moment in the telecommunications industry.
02 May Deadly Gold Mine Collapse in Sudan: A catastrophic collapse at a newly reopened gold mine in Jebel Amir, North Darfur results in the tragic death of over 60 miners.
06 May Walmart Tops Fortune 500: ExxonMobil was displaced by Walmart as the largest revenue company on the annual Fortune 500 List, signaling a significant shift in corporate rankings and economic dynamics.
07 May Bank of China cuts ties with North Korea: On May 7, 2013, the state-run Bank of China announced it had halted business with North Korea's Foreign Trade Bank, which was accused by the United States of financing Pyongyang's missile and nuclear programs. This move signaled Beijing's growing frustration with North Korea's actions. source: washingtonpost.com
11 May G7 Coordinates Efforts Against Tax Evasion: On May 11, 2013, G7 finance ministers met in London to discuss coordinated efforts to combat tax evasion and improve tax transparency. This meeting was part of a broader initiative to address global tax avoidance and ensure fair taxation practices among multinational corporations. source: reuters.com
13 May Emergency Financial Manager Appointed for Detroit: On May 13, 2013, Michigan Governor Rick Snyder appointed an emergency financial manager for Detroit to address the city's financial crisis. This decision was part of a broader effort to manage the city's debts and improve its financial stability. source: bbc.com
14 May Tunnel Collapse at Grasberg Mine in Indonesia: Approximately thirty workers were trapped when a tunnel collapsed at the Freeport-McMoRan Grasberg mine in Papua, Indonesia, highlighting the ongoing safety challenges in the mining industry.
15 May Eurozone economic stagnation: The Eurozone experienced economic stagnation, with growth rates remaining flat and unemployment rates remaining high. This period of stagnation raised concerns about the region's economic recovery and future prospects. source: reuters.com
16 May Bill Gates reclaims title of world's richest person: Bill Gates, co-founder of Microsoft, reclaimed the title of the world's richest person, surpassing Mexican billionaire Carlos Slim. Gates' wealth was attributed to the strong performance of Microsoft's stock. source: forbes.com
20 May Yahoo Acquires Tumblr: Yahoo purchased the social media platform Tumblr for $1.1 billion, representing a significant strategic move in the digital media landscape.
22 May Dutch Tax Authorities Raid Spyker Cars: The Dutch tax authorities conducted a raid on Spyker Cars' headquarters, seizing documents as part of an apparent investigation into the company's financial practices.
27 May Liberty Reserve founder arrested: On May 27, 2013, the founder of Liberty Reserve, Arthur Budovsky, was arrested in Spain. The arrest was part of a crackdown on the digital currency platform accused of facilitating money laundering and other illegal activities. source: bbc.com
29 May Chinese Firm Acquires Major US Meat Processor: Shuanghui, a Chinese meat processing company, purchased Smithfield Foods, the world's largest meat processor, for $4.72 billion in a significant cross-border business transaction.
31 May President Obama lifts trade embargo on Iranian communications sector: On May 31, 2013, U.S. President Barack Obama announced the lifting of trade restrictions on Iran's communications sector, allowing the export of certain technologies to facilitate communication among the Iranian people. This move aimed to support the free flow of information within Iran. source: reuters.com
02 Jun US Sanctions Against Iran: The United States extends economic sanctions against Iran, targeting the automotive industry and currency sectors.
04 Jun IBM Acquires SoftLayer Technologies: IBM strategically expanded its cloud computing capabilities by acquiring SoftLayer Technologies for US$2 billion, signaling the company's commitment to growing its presence in the rapidly evolving cloud services market.
09 Jun Major Fire Destroys Stores in Lagos: A significant fire in Lagos, Nigeria, destroyed 150 stores, causing substantial economic and property damage.
10 Jun Energy Information Administration Shale Resources Report: The Department of Energy's Energy Information Administration released a comprehensive report on Technically Recoverable Shale Oil and Shale Gas Resources, providing insights into potential energy reserves.
12 Jun US Dollar Value Decline: The United States Dollar experiences a significant depreciation against multiple international currencies, signaling potential economic volatility.
20 Jun Stock Market Experiences Sharp Decline: Financial markets experienced significant volatility, with the S&P 500 and Dow Jones Industrial Average recording their worst trading day in 2013. The Dow Jones dropped 353 points (2.3%), while the S&P 500 fell 2.5 percent.
21 Jun People's Bank of China Addresses Cash Crunch: The People's Bank of China intervened to reduce excessive financial leverage and alleviate a cash crunch in the country.
22 Jun Mass Unemployment Protest in Rome: Approximately 100,000 workers and unemployed individuals marched in Rome, staging the first major protest since Enrico Letta's government took power, highlighting Italy's severe unemployment crisis.
24 Jun Lionel Messi's Tax Settlement in Spain: Catalonia reported that football star Lionel Messi paid €10 million in Spanish back taxes for 2010 and 2011, with an ongoing investigation into a potential €4.1 million tax claim for the period 2007-2009.
25 Jun Deadly Gold Mine Collapse in Central African Republic: A catastrophic gold mine collapse in the Central African Republic results in 37 confirmed fatalities, underscoring the dangerous working conditions in artisanal mining.
29 Jun Australian Dollar Hits 2010 Low: The Australian Dollar plummeted to its lowest level against the US Dollar since 2010, reflecting significant currency market volatility.
02 Jul Obama Administration delays Affordable Care Act employer mandate until 2015: The Obama Administration announced a one-year delay in implementing the Affordable Care Act's employer mandate, which required businesses with over 50 employees to provide health insurance or face penalties. The decision was made to address concerns from employers about the complexity of the requirements and to allow more time for effective implementation. source: washingtonpost.com
04 Jul South Korea proposes reopening Kaesong joint factory complex: South Korea proposed reopening the Kaesong Industrial Complex, a joint factory park in North Korea, after it was closed in April due to rising tensions. The proposal aimed to resume economic cooperation and improve inter-Korean relations. source: bbc.com
05 Jul Samsung Electronics Misses Quarterly Forecast: Samsung Electronics announced second-quarter results that disappointed investors by missing financial forecasts, indicating potential challenges in the tech market.
06 Jul Nathula Pass Trading Post Reopens: The historic Nathula Pass, a trading post connecting Tibet with the Indian state of Sikkim, reopened for business after being closed since the Sino-Indian War of 1962. This strategic location is part of the ancient Silk Road trade route.
09 Jul Greece Receives Additional EU Funding: Greece received an additional 6.2 million euros from the European Commission and European Central Bank, despite ongoing concerns about the country's slow reform pace.
10 Jul Apple eBook Price Fixing Ruling: A U.S. District Court ruled that Apple Inc. had conspired to fix eBook prices, potentially exposing the company to substantial financial damages and legal consequences.
12 Jul Record-Breaking Stock Market Performance: The S&P 500 and Dow Jones Industrial Average closed at record highs, with the NASDAQ reaching its highest level in ten decades, signaling strong economic performance.
15 Jul Major Canadian Retail Acquisition: Loblaw Companies Limited agreed to purchase Shoppers Drug Mart, Canada's largest pharmacy retailer, for $12.4 billion, signaling significant consolidation in the Canadian retail market.
16 Jul Greek General Strike Against Austerity: Greek labor unions organized a nationwide general strike to protest new austerity measures, demonstrating widespread public discontent with economic policies.
22 Jul GlaxoSmithKline Bribery Scandal in China: British pharmaceutical company GlaxoSmithKline admitted that senior executives in China had violated laws, revealing a significant corporate ethics and international business compliance issue.
24 Jul Wells Fargo Becomes World's Largest Bank: During China's economic slowdown, Wells Fargo of the United States became the world's largest bank by market capitalization, replacing the Industrial and Commercial Bank of China.
25 Jul China's Economic Growth Strategies: China implemented major economic initiatives, including export liberalization and business tax breaks, to stimulate growth amid an industrial slowdown.
26 Jul UBS settles mortgage-backed securities lawsuit: On July 26, 2013, Swiss bank UBS agreed to pay $885 million to settle a lawsuit filed by the U.S. Federal Housing Finance Agency (FHFA). The FHFA had accused UBS of providing false information about the risk of mortgage-backed securities sold to Fannie Mae and Freddie Mac, leading to significant losses during the 2008 financial crisis. source: upi.com
01 Aug Stock Market Reaches Record Highs: The Dow Jones Industrial Average (DJIA) and S&P 500 achieved record high levels, signaling strong performance and investor confidence in the financial markets.
05 Aug Jeff Bezos acquires The Washington Post: On August 5, 2013, Amazon founder and CEO Jeff Bezos agreed to purchase The Washington Post for $250 million in cash. The deal marked the end of the Graham family's stewardship of the newspaper after four generations. Bezos stated that he would own the paper privately, with no involvement from Amazon. source: washingtonpost.com
08 Aug First WhatsApp Business Group: Yasser Yihia created the first WhatsApp group specifically designed for business management, potentially marking an early milestone in digital business communication.
13 Aug Antitrust lawsuit against American Airlines-US Airways merger: On August 13, 2013, the U.S. government filed an antitrust lawsuit to block the merger between American Airlines and US Airways. The lawsuit aimed to prevent reduced competition in the airline industry. source: reuters.com
15 Aug Brazil's Oil Royalties Distribution Bill: The Brazilian Chamber of Deputies approved a controversial bill regulating the distribution of oil exploration royalties. The legislation mandates that 75% of the funds will be allocated to education and 25% to healthcare, signaling a significant policy shift in national resource management.
17 Aug Indian Rupee Hits Record Low: The Indian rupee plummeted to a new record low, trading at 62.85 rupees per US dollar, indicating significant economic challenges for India.
19 Aug Colombia's Agrarian Strike for Labor Rights: Colombian workers organized a nationwide agrarian strike to demand improved labor rights and address economic challenges facing agricultural workers, highlighting the ongoing social and economic struggles in the country.
21 Aug JC Penney Financial Decline: DUPE
22 Aug NASDAQ Electronic Trading Shutdown: A significant computer problem caused the NASDAQ stock exchange to cease operations for three hours, potentially impacting global financial markets.
23 Aug Microsoft CEO Steve Ballmer Announces Retirement: Steve Ballmer, long-time CEO of Microsoft, revealed his intention to retire within the next 12 months, marking a significant leadership transition for one of the world's most influential technology companies.
28 Aug Oil Prices Surge Due to Syria Conflict Tensions: With a potential Western military strike against Syria imminent, oil prices surged to a six-month high. Investors are concerned about potential violence spreading across the oil-rich Middle East, causing global stock market declines.
15 Sep Yemeni Oil Pipeline Sabotage: Saboteurs set fire to an oil export pipeline in Yemen, potentially disrupting the country's critical energy infrastructure.
16 Sep Canadian Chocolate Manufacturers Price Fixing Settlement: Major Canadian chocolate manufacturers including Cadbury Adams, Nestle, and Mars, along with distributor ITWAL Limited, agreed to pay over CAD$23 Million to settle a class action lawsuit alleging price fixing in the Canadian market.
18 Sep US Federal Reserve Continues Economic Stimulus: Due to concerns about weakening economic growth, the United States Federal Reserve has announced that it will continue its economic stimulus programs to support the national economy.
19 Sep JPMorgan Chase massive fine: On September 19, 2013, JPMorgan Chase agreed to pay a record $13 billion fine to settle claims related to its role in the mortgage crisis. This settlement was part of a broader effort to hold financial institutions accountable for their actions leading up to the 2008 financial crisis. source: reuters.com
21 Sep Oil Industry Bidding Withdrawal: Major oil companies Exxon Mobil and BP declined to participate in the international bidding for rights to Brazil's strategically important Libra deep-water oil field, signaling potential strategic or economic reservations about the project.
24 Sep Labor strikes in Bangladesh: On September 24, 2013, labor strikes erupted in Bangladesh, with workers demanding better wages and working conditions. The strikes were part of ongoing labor rights movements in the garment industry. source: theguardian.com
30 Sep GlaxoSmithKline Sells Thrombosis Drug Brands: On September 30, 2013, GlaxoSmithKline announced the sale of its thrombosis drug brands to the Swiss pharmaceutical company Novartis. The deal, valued at $1.9 billion, was part of GlaxoSmithKline's strategy to streamline its portfolio and focus on core therapeutic areas. The sale included the brands Arixtra and Fraxiparine. source: reuters.com
03 Oct China's Maritime Silk Road Initiative: On October 3, 2013, China announced its Maritime Silk Road Initiative, aimed at enhancing trade routes and economic ties with countries along the Indian Ocean and beyond. This initiative is part of China's broader Belt and Road Initiative. source: reuters.com
05 Oct US Government Recalls Furloughed Civil Workers: On October 5, 2013, the United States government announced the recall of furloughed civil workers following the partial government shutdown. This decision aimed to resume essential services and operations that had been suspended due to the budget impasse. The move was part of ongoing efforts to address the fiscal challenges and reopen government functions.
08 Oct U.S. Treasury Department warns of approaching debt ceiling crisis: On October 8, 2013, the U.S. Treasury Department issued a warning about the impending debt ceiling crisis, stating that the government would reach its borrowing limit soon. This raised concerns about potential economic consequences, including the risk of a government shutdown and default on federal obligations. source: nytimes.com
09 Oct Janet Yellen nominated as Federal Reserve Chair by President Obama: On October 9, 2013, President Barack Obama nominated Janet Yellen to succeed Ben Bernanke as the Chair of the Federal Reserve. Yellen, known for her expertise in monetary policy, was the first woman to be nominated for this position. source: nytimes.com
10 Oct Delaware Supreme Court Ruling Aids Activision Blizzard: The Delaware Supreme Court overturned a lower court's order, allowing Activision Blizzard to buy back its equity from Vivendi, marking a significant corporate financial maneuver.
14 Oct Nobel Prize in Economic Sciences awarded to three economists: On October 14, 2013, the Nobel Prize in Economic Sciences was awarded to three economists for their work on innovation and economic growth. Joel Mokyr, Philippe Aghion, and Peter Howitt were recognized for their research on how technological progress and 'creative destruction' drive economic development. Their work emphasizes the importance of innovation in sustaining long-term growth and improving global living standards. source: reuters.com
24 Oct Twitter prepares for initial public offering: Twitter announced its plans to go public, filing for an initial public offering (IPO) with the SEC. This move marked a significant step for the social media platform, aiming to raise capital and expand its operations. source: reuters.com
29 Oct NASDAQ Trading Disruption: The Nasdaq Composite and NASDAQ-100 stock indices experienced a technical freeze lasting approximately one hour, resuming trading around 1 PM EST.
01 Nov Smartphone Patent Wars Escalate: The ongoing smartphone patent disputes intensified as Rockstar Consortium, a company owned by Microsoft and Apple, launched comprehensive legal actions against Samsung, Google, and other Android phone manufacturers.
04 Nov Johnson & Johnson pays $2.2 billion in drug probe settlement: Johnson & Johnson agreed to pay $2.2 billion to settle allegations related to the marketing of certain drugs. This settlement was part of a broader investigation into pharmaceutical marketing practices. source: reuters.com
05 Nov SAC Capital insider trading plea: SAC Capital Advisors pleaded guilty to insider trading charges, resulting in significant financial penalties. The case highlighted issues of ethics and legality in hedge fund operations. source: reuters.com
07 Nov Twitter goes public with IPO: On November 7, 2013, Twitter officially went public, offering shares on the New York Stock Exchange. The IPO was highly anticipated and marked a significant moment in the tech industry, reflecting the growing influence of social media. source: nytimes.com
12 Nov U.S. Stock Markets Plan Technical Improvements: Major U.S. stock exchanges announced a collaborative initiative to enhance market technical infrastructure, responding to recent trading disruptions such as the August Nasdaq trading halt. This effort aimed to improve market reliability and investor confidence.
13 Nov 4 World Trade Center Opens: The 72-story 4 World Trade Center officially opened in Lower Manhattan, becoming the first office tower to open on the original World Trade Center site since the 9/11 attacks. The building stands 977 feet tall and is designed by architect Fumihiko Maki. source: amny.com
17 Nov PlayStation 4 Sales Milestone: Sony achieved a remarkable sales milestone by selling 1,000,000 PlayStation 4 units on its first day of release, demonstrating strong consumer demand and the popularity of the gaming console.
26 Nov Ford Recalls Escape Models Due to Fire Risk: Ford Motor Company initiated a significant recall of 140,000 Escape models in the United States and an additional 21,000 internationally after discovering 13 instances of engine fires, prioritizing consumer safety.
27 Nov Bitcoin reaches $1,000 milestone: On November 27, 2013, Bitcoin, the decentralized digital currency, surpassed the $1,000 mark for the first time, reflecting growing interest and investment in cryptocurrencies. source: coindesk.com
29 Nov Australia Blocks GrainCorp Takeover: Australian Treasurer Joe Hockey rejected a A$3.4 billion takeover offer by American company Archer Daniels Midland for agribusiness GrainCorp, demonstrating governmental oversight in international business transactions.
05 Dec Myanmar-Philippines Trade Agreements: Leaders Thein Sein of Myanmar and Benigno Aquino III of the Philippines signed multiple trade agreements covering renewable energy, mass media, and visa-free travel, signaling improved bilateral relations and economic collaboration.
07 Dec WTO concludes landmark trade agreement in Bali: On December 7, 2013, the World Trade Organization reached a historic agreement in Bali, Indonesia, aimed at streamlining global trade. This agreement was seen as a significant step towards enhancing international trade cooperation. source: bbc.com
09 Dec American Airlines Group Formation: AMR Corporation and US Airways Group completed their merger, creating the new American Airlines Group, which began trading on NASDAQ, marking a significant consolidation in the airline industry.
10 Dec Mary Barra Becomes First Female GM CEO: Mary Barra made history by becoming the first female CEO of General Motors, breaking a significant gender barrier in the automotive industry.
11 Dec General Motors Closes Australian Manufacturing: General Motors announced the closure of its Australian Holden manufacturing affiliate by 2017, marking a significant shift in the automotive industry's global manufacturing strategy.
12 Dec Mexico's Energy Sector Reform: Mexico's Congress passed a landmark bill to allow foreign investment in Pemex, the state-run oil company, marking a significant shift in the country's long-standing energy policy and potentially attracting international investment.
17 Dec Ukraine-Russia gas and bond agreement signed: On December 17, 2013, Ukraine and Russia signed a significant agreement involving gas supplies and a $15 billion bond purchase. This agreement was crucial for Ukraine's economy and aimed to stabilize relations between the two countries amid ongoing tensions. source: reuters.com
18 Dec China Cracks Down on Bitcoin: China's regulatory actions against Bitcoin caused a significant market disruption, leading to a dramatic 35% plunge in the cryptocurrency's value, signaling potential challenges for digital currencies in the global financial landscape.
19 Dec Target Corporation suffers massive data breach: On December 19, 2013, Target Corporation announced a massive data breach affecting millions of customers. The breach raised concerns about cybersecurity and consumer protection, leading to investigations and lawsuits. source: nytimes.com
20 Dec U.S. Economic Growth and Stock Market Performance: The United States experiences robust economic growth, leading to record highs for the Dow Jones Industrial Average and S&P 500.
21 Dec Death of Edgar M. Bronfman: Edgar M. Bronfman, the prominent Canadian-American billionaire who led Seagram from 1994 to 2000, passed away in Manhattan at the age of 84, marking the end of an era for one of North America's most influential business leaders.
22 Dec Target Corporation data breach: Target Corporation announced a significant data breach, compromising the personal and financial information of millions of customers. The breach raised concerns about cybersecurity and data protection practices. source: nbcnews.com
26 Dec Reserve Bank of India Warns About Cryptocurrency Risks: The Reserve Bank of India issued a cautionary statement highlighting potential risks associated with virtual currencies like Bitcoin and Dogecoin, signaling growing regulatory scrutiny of digital financial instruments.
27 Dec Delta Air Lines Website Pricing Error: A website error on Delta Air Lines allowed thousands of customers to purchase tickets at up to 90% below regular prices. Delta took responsibility and honored the tickets and frequent flier miles.
31 Dec Latvia adopts the euro despite public opposition: On December 31, 2013, Latvia officially adopted the euro as its currency, becoming the 18th member of the Eurozone. This decision faced significant public opposition, with many citizens concerned about the economic implications. source: bbc.com

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