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
A Dutch tech startup and a construction company on Thursday unveiled a Hyperloop test facility, a steel tube that will be used to help develop the futuristic high-speed transportation system.
It is a first step toward developing the system in the Netherlands, a key European transportation transport hub, and beyond.
"It's our goal to let it be available for the daily commuter," said Tim Houter, CEO of Hardt Global Mobility, which is working on the project with construction company BAM. He described the concept as "a sort of on-demand, high-speed transportation system for everyone."
The Hyperloop was first proposed in 2013 by SpaceX and Tesla Motors co-founder Elon Musk to transport "pods" of people through a tube at speeds of roughly 700 mph (1,126 kph). A Hyperloop has levitating pods powered by electricity and magnetism that hurtle through low-friction pipes.
The new test facility, a 30-meter (100-foot) long, 3.2-meter (10.5-feet) diameter tube, is located at Delft Technical University.
Houter, who was part of a team of students from the university that won a Hyperloop contest organized by Musk in January, said the tube will be used for low-speed testing in a vacuum.
"So there will be a vehicle inside this tube going back and forth with the levitation system we're using, the stabilization system we're using and the safety systems," he said.
Ultimately the startup wants to build a longer high-speed facility for testing cornering and lane switching. Hardt then aims to begin construction of a Hyperloop route between two cities within the next four years.
Dutch Infrastructure and Environment Minister Melanie Schultz van Haegen said a Hyperloop system could help cement the Netherlands' position as a gateway to Europe by transporting freight arriving at Rotterdam's sprawling port.
"If you then can move the goods in a fast way to the rest of Europe, this is very important for competition," she said.