Going through a rough patch

Following Apple's refusal to decrypt data on an iPhone from a dead assassin, the US administration sued the firm.The FBI said it's an isolated case. But it's really about how strong encryption is allowed to be. In the end, the FBI got what it wanted without Apple's help.

The European Central Bank lowered its main refinancing rate to zero to try to crank up growth and hike inflation - to little avail. The ECB continued its ultra-loose monetary policy, and extended its bond-buying program until December 2017.

Google's "Alpha Go" software showcased the strength of artificial intelligence. It beat one of the world's best players at the "Go" board game. South Korea's Leed Sedol won only one of four games against the machine.

In Florida, a man died in a Tesla e-car in autopilot mode. The software ignored a truck trailer crossing the road. The deadly crash triggered a fresh debate about safety requirements for self-driving vehicles.

On June 23, Britons voted to leave the EU. The pound Sterling tanked, but markets digested the shock better than expected. The UK's gross domestic product rose by 0.5 percent in the third quarter, thus beating analysts' expectations. On the other hand, Britain hasn't actually left the EU yet.

The EU executive issued a ruling that Apple's ultra-generous tax deals in Ireland are illegal, and said the tech giant must pay up to $13 billion (12.5 billion euros) in back taxes to the Irish goverment. But Ireland, a tax haven, appealed the Commission's ruling, fearing the fine might drive away investors.

Only weeks after sales started, Samsung recalled its new Galaxy Note 7, after some phones spontaneously caught fire. New battery packs didn't resolve the issue. Samsung completely ended the production and sale of the smartphone worldwide, leaving the South Koreans with billions of dollars in losses.

The German chemicals giant acquired US biotech firm Monsanto for $66 billion - after months of haggling. It was the biggest-ever corporate takeover by a German company, and made Bayer the world leader in agrochemicals.

On the back of its emissions-cheating scandal, VW and the US department of Justice agreed on a deal that saw the German carmaker pay a $14.7-billion fine in the US. To save money, VW announced it would cut up to 30,000 jobs, 23,000 in Germany alone. A total of 11 million vehicles are affected by VW's pollution scam.

Deutsche Bank has also been in the crosshairs of the US Justice Department. The lender stands accused of illegal sub-prime mortgage deals. The case is not yet settled. Deutsche faces a possible fine of up to $14 billion. It would be the largest fine ever levied against a foreign bank in the US.

Negotiations on a transatlantic free trade agreement between the EU and the US (TTIP), and a similar one between the EU and Canada (CETA), have been under negotiation for years. While CETA was eventually signed, TTIP has been put on hold, and US President-elect Donald Trump is no fan. Nor are millions of EU citizens.

Supply, meet demand: OPEC member countries and non-OPEC nations including Russia agreed oil output cuts for the first time in eight years. The deal is meant to cut production by 1.2 million barrels per day, with a view to pushing oil prices up.

The world's oldest lender is fighting for survival. Italy's Monte dei Paschi di Siena is in trouble because of non-performing loans. It needs 5 billion euros by the end of the year to complete its recapitalization program. If the bank fails, the state will have to come to the rescue - or wind down the bank.