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
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
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
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
Investors need to be cautious because the economy will get hurt the longer the trade war drags on, Jim Cramer says.Mad Money with Jim Cramerread more
Slack Technologies' reference price was set at $26 per share, the New York Stock Exchange announced Wednesday evening.Technologyread more
Starbucks may dominate the ready-to-drink coffee scene, but there's another restaurant hoping to caffeinate consumers on the go — and it's not another coffee chain.
McDonald's said Wednesday that it is partnering with Coca-Cola to launch a line of bottled McCafe Frappe beverages in the U.S. in 2018. Financial terms of the agreement were not disclosed.
This is the burger giant's first foray into the nearly $2 billion ready-to-drink coffee category, a move that Dunkin Donuts also made earlier this year. The space has predominately been ruled by the North American Coffee Partnership — a venture between Starbucks and PepsiCo.
The Starbucks-Pepsi partnership, which was founded in 1994, has allowed the two companies to gain a majority share in the market by volume and by dollars, according to Beverage Digest.
McDonald's already has whole bean, ground and single-serve coffee products available in retail stores, but this will be the company's first bottled product. The McCafe Frappe lineup will include caramel, vanilla and mocha flavors.
"This is just the start of our McCafé commitment," Chris Kempczinski, president of McDonald's USA, said in a statement Wednesday. "We understand how important the coffee culture is for consumers and we are committed to meeting that demand at the taste, convenience and value only McDonald's can offer."
Since jumping into the coffee fray, McDonald's has benefited from pricing its beverages far lower than its direct coffee competitors like Starbucks and Dunkin. The chain has doubled down on its value offerings, serving up $1 soft drinks and $2 McCafe beverages that include coffee, frappes and lattes.
The Golden Arches has already made a dent in the industry, stealing away sales from its competitors, especially in the afternoon.
The company did not specify what its new bottled beverages will cost at retail.