The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday — breaching a key psychological level.Bondsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread more
Sundar Pichai's note reads like a response to growing scrutiny from regulators, press and employees, and echoes a consistent theme of how Google helps people.Technologyread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
PayPal is buying Xoom for $25 a share, in an all-cash deal, the companies said Wednesday. Xoom operates as an international money-transfer player.
Following a trading halt, Xoom shares resumed extended hours trading around 6 p.m. ET and spiked as much as 25 percent.
At $25 per share, PayPal would shell out about $975 million in the deal. The price represents a premium of about one-third over Xoom's three-month volume-weighted average.
"Acquiring Xoom allows PayPal to offer a broader range of services to our global customer base, increase customer engagement and enter an important and growing adjacent marketplace," said PayPal President Dan Schulman in a statement.
PayPal, which is currently owned by eBay, will become an independent public company this month.