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September 26th, 2013

The Federal Reserve announced this past Monday that the economy has not improved enough to taper quantitative easing. The Federal Open Market Committee has decided that it will maintain its current policy of buying mortgage-backed securities at a pace of $40 billion per month, and longer-term Treasury securities at a pace of $45 billion per month.

BlackBerry Ltd. has been in the news recently after their stock price plunged 20 percent, representing their failure to compete with Apple Inc. and Google Inc. BlackBerry Ltd. will be cutting 4,500 jobs as it prepares to absorb nearly $1 billion in losses related to unsold device inventory. They have also recently signed a tentative agreement to be purchased by a group led by Canadian holding company Fairfax Financial in a $4.7 billion deal. This transaction will make BlackBerry Ltd. a private company.