The Panama Papers: Big Names Involved in Big Leaks

The world-wide scandal, which began on April 12th, caused by the leaking of 11 million documents from the Panamanian law firm, Mossack Fonseca, has affected numerous famous authorities, politicians, businessmen, and country leaders. The Panama Papers were leaked by an anonymous source to a German newspaper, and then quickly spread around the globe. The documents revealed that more than fourteen thousand companies and hundreds of country leaders were using offshore companies to avoid taxes. The Panama Papers would be the largest “legalized corruption” case ever. Mossack Fonseca, the fourth largest law firm in Panama, claimed that the information exposed was inaccurate, but many believe that the firm is involved in providing shell companies to hide individuals’ corruption.

iPhone sales drop for the first time in 13 years

On Tuesday, April 26th, Apple reported a 13 percent drop in its second quarter revenue due to the fall of iPhone sales. Among all Apple’s markets, China was a particular weak spot where the sales of iPhone dropped by 26 percent. It is indicated that the slowing economy of China is one of the major factors that made the iPhone market suffer. The drop in sales suggests that the golden age of Apple phones may be coming to an end after more than a decade of it dominating the smartphone market. However, Timothy D. Cook, Apple’s Chief Executive Officer, declared that the drop was only a “pause” instead of a fundamental change in the industry.

Donald Trump and Hillary Clinton celebrated victorious nights

This Tuesday, April 26th, the two front-runners in the U.S. presidential election, Donald Trump and Hillary Clinton each celebrated a victorious night. Trump had a clean sweep of the five states where voters went to the polls: Connecticut, Delaware, Maryland, Pennsylvania, and Rhode Island. Clinton defeated her rival Bernie Sanders in each state except Rhode Island. Both candidates are nearing the required delegates to become their respective party nominees.