The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
Investors bought bank stocks because there's a chance the Federal Reserve's interest rate cut may "put an end to this artificially inverted yield curve," Jim Cramer says.Mad Money with Jim Cramerread more
AT&T is considering selling DirecTV, according to a report in the Wall Street Journal.Technologyread more
The Facebook CEO will talk to policymakers "about future internet regulation," according to a spokesperson.Technologyread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
Disney CEO Bob Iger writes in his autobiography that he believes he would have discussed combining Disney with Apple had Steve Jobs lived.Technologyread more
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
Microsoft shares rose 1% after hours as it announced plans to raise its dividend and authorized as much as $40 billion to buy back shares.Technologyread more
The Fed cut interest rates by a quarter point, but it also reaffirmed its rate cut was meant to serve as insurance for the economy.Market Insiderread more
State-owned Postal Savings Bank of China (PSBC) priced its Hong Kong initial public offering near the bottom of expectations, valuing the deal at HK$57.6 billion ($7.4 billion), IFR reported on Wednesday.
PSBC priced the 12.1 billion new shares at HK$4.76 each, after marketing the IPO in an indicative range of HK$4.68 to HK$5.18 per share, the Thomson Reuters publication said, citing people close to the deal.
It is the world's biggest IPO since e-commerce company Alibaba Group Holding went public in 2014 in a record $25 billion deal.
The bank said in the offering prospectus it plans to use the funds to bolster its balance sheet and fund future lending growth.
PSBC declined to comment on its IPO pricing.