As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
Activists with Black Lives Matter, who met privately with Buttigieg in the weeks after police shot and killed Eric Logan, say the 37-year-old mayor brushed off their concerns...2020 Electionsread more
Trump said he "is revoking" a federal waiver that allowed the state to craft its own rules on greenhouse gas emissions from vehicles.Politicsread more
Wall Street economists think the Fed will cut rates by 25 basis points at its September meeting but have differing views about what will happen in the future.Marketsread more
J.P. Morgan Chase chief Dimon says he doesn't think the U.S. is close to recession and called the Fed's Powell "a quality human."Marketsread more
The unspecified action comes after the U.S. accused Iran of carrying out the weekend attacks on critical Saudi oil installations.Politicsread more
Drone and missile debris recovered by investigators at the Saudi Aramco attack site is proof of Iranian culpability, a Saudi defense ministry representative told media on...World Politicsread more
Four Wall Street firms downgraded FedEx after the company's poor earnings report.Marketsread more
The Business Roundtable said its members forecast that growth this year will clock in at 2.3%, down from last quarter's estimate of 2.6%.Politicsread more
Some worry the regulators will squander an opportunity to crack down on potentially monopolistic behavior due to their own infighting.Technologyread more
FedEx CEO Fred Smith is "basically implying that we're going to import" a global slowdown, says CNBC's Jim Cramer.Investingread more
Instagram on Tuesday launched a product designed to directly take on emerging rival Snapchat. The product, called "Stories" appears directly inside Instagram's app.
Snapchat, which was recently valued at $22.7 billion in May, is increasingly seen as a viable threat by Facebook — which owns Instagram — because of how the start-up is increasingly dominating the attention of younger users.
The social media giant tried to buy Snapchat more than three years ago for $3 billion, which CEO Evan Spiegel turned down.
That hasn't ended Facebook's attempts to imitate the company, whose app has become extraordinarily popular among young people for its ephemeral videos.
Among Facebook's efforts to imitate Snapchat include "Poke," launched in 2012, which featured disappearing chats an video -- essentially the same sort of experience. Poke didn't take off, and Facebook CEO Mark Zuckerberg later dismissed as "a joke."
Instagram also launched a Snapchat imitator called "Bolt" in 2014. It too was not a success, and the app was later pulled.
"Our mission has always been to capture and share the world's moments, not just the world's most beautiful moments," Instagram CEO Kevin Systrom told The New York Times. "Stories will alleviate a ton of the pressure people have to post their absolute best stuff."
Stories launches Tuesday on both iOS and Android platforms.