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Saudi Arabia’s $750 Billion Gamble Drives Oil Below $54 per barrel

With oil prices falling on January 6, 2015 below $54 a barrel, the decision by Saudi Arabia not to cut oil production despite its record $38.6 billion deficit has bewildered oil markets. The Kingdom is said to have accumulated $750 billion in foreign currency reserves which it is reportedly willing to put on the line in its global campaign of not being the only swing state responsible for stabilizing oil prices.

Sony Hack: A Wakeup Call for the Private Industry against Cyberattacks

Sanjeev Relia writes:On November 24, 2014, personal information about Sony Pictures Entertainment employees and their dependents, e-mails between employees, information about executive salaries at the company, copies of unreleased Sony films, and other information were obtained and released by a hacker group going under the nickname “Guardians of Peace” (GoP).