Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
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
The photo depicts Canadian leader Justin Trudeau wearing a turban and robe, with dark makeup on his hands, face and neck. Liberal Party spokesman confirms the photo is of...Electionsread 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
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
The U.S. Federal Reserve on Wednesday cut its overnight rate by 25 basis points to a range of 1.75% to 2%, a move that was widely expected. The central bank, however, appeared...Asia Marketsread 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
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 United Airlines PR fail is one that has prompted the question of whether CEO Oscar Munoz (pictured) should himself be re-accommodated after a passenger was dragged off an overbooked plane and resulted in a stock price fall for parent company United Continental. But it's not the first time a major corporation has found itself in the middle of a publicity nightmare.
The sinking of oil platform Deepwater Horizon was the worst oil spill ever to hit the U.S. It killed 11, and the share price sank 26 percent between the explosion on April 20 2010 and the same time in 2011. During the crisis, then chief executive Tony Hayward (pictured, center) told reporters: "I want my life back," for which he subsequently apologized.
When Gerald Ratner addressed the U.K.'s Institute of Directors Annual Convention in 1991, he spoke of a retail recession that his jewelry company seemed to be avoiding, with profits of £120 million ($150 million). He told the audience to go ahead and use his tips for success, as long as they didn't try to compete with him.
But he then went on to describe a sherry decanter with glasses and a tray, on sale for £4.95 at his Ratners jewelry shop.
"People say to me, 'how can you sell this for such a low price? I say, 'because it's total crap,'" he went on to state. His comments wiped an estimated £500 million off the value of the business, and Ratner left the following year. The video of his speech is here and the comment comes at three minutes 30.
In February, Uber Chief Executive Travis Kalanick had an argument while in the back of…an Uber, telling the driver: "Some people don't like to take responsibility for their own s---. They blame everything in their life on somebody else. Good luck."
Then he apologized, saying on the company's website: "It's clear this video is a reflection of me—and the criticism we've received is a stark reminder that I must fundamentally change as a leader and grow up. This is the first time I've been willing to admit that I need leadership help and I intend to get it."
In 2009, a Domino's worker pulled a prank: He put cheese up his nose and waved salami by his butt, with some of the cheese ending up in a sandwich. This was all filmed by a colleague who was encouraging him, and ended up on YouTube.
Not great for Domino's at the time, but both workers were fired and Chief Executive Patrick Doyle had to post a video in response, saying: "We're re-examining all our hiring practices to make sure that people like this don't make it into our stores."
The car manufacturer admitted it had used software to manipulate emissions in September 2015, which forced Chief Executive Martin Winterkorn , wiped billions of euros from its market value and saw sales fall 5 percent that year and 8 percent in 2016. VW has had to spend up to $25 billion in the US on claims from owners, dealers and regulators and is now trying to convince Americans to buy its cars with a six-year warranty.
A franchise store in Hull, U.K. advertised an event called "KKK Wednesday," in February 2015. It was meant to stand for Krispy Kreme Klub, but understandably it evoked comparisons to the white supremacist organization. It quickly removed the promotion, apologized, and a spokesperson said: "We do believe this was a completely unintentional oversight on the part of our longtime franchise partners in the U.K."
Twelve-time Olympic medalist Ryan Lochte was in bonuses and was banned from competitions until June 2017 after he lied about the extent of a robbery in Rio last year. Local police accused him of making it up as a cover story for the vandalism of a gas station, and the incident caused speculation that he could lose sponsorship deals.