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
President Donald Trump on Thursday declared the nation's opioid epidemic a public health emergency, the first time since 2010 that the federal government has designated such an emergency nationwide.
But the president stopped short of officially labeling the crisis -- which claimed the lives of 64,000 Americans in 2016 -- a state of national emergency.
"I'm officially declaring the opioid crisis a national public health emergency under federal law," Trump said at a White House event. Ending the epidemic "will require the resolve of our entire country," he said.
Calling the crisis a "national shame and a human tragedy," Trump vowed to crack down on heroin imports from Mexico and fentanyl imports from China. He also pledged to use evidence-based addiction treatment, and to reduce drug use among young people through a national advertising campaign.
The president also discussed his personal experience with addiction: Trump's brother, Fred Trump, died of complications from alcoholism. "Fred was a great guy, and he would tell me, 'don't drink, don't drink.' He would constantly tell me this, over and over." Trump credits his brother's example with convincing him to never drink alcohol or smoke cigarettes.
Trump singled out China, which exports an incredibly strong opioid, fentanyl, which officials believe is responsible for thousands of deaths. Trump also said he would raise the issue of fentanyl exports with Chinese President Xi Jinping during his visit to the country early next week.
He also pledged to go after companies that produce and distribute certain opioids wholesale to "pill mill" medical practices. "We will be bringing some very major lawsuits against people and against companies that have been hurting our communities," he said.
In a move reminiscent of the war on drugs in the 1980s, Trump also said clever advertising could play a major role in discouraging young people from using drugs. "Our most important thing is going to be really, really great advertising, so people don't start and don't have to go through these problems," he said.
The designation of a public health emergency would expand the ways that individuals can get treatment for opioid addiction, which could particularly benefit people in rural areas.
The emergency declaration would also free up public health emergency funds at the Department of Health and Human Services, and grant individual states more flexibility in how they use federal dollars, and allow them to direct more funds toward addiction treatment and prevention.
Labor Department grants known as National Dislocated Worker Grants would also be available to workers who cite opiate addiction as the reason they're applying for the grants. Those grants are typically only available to victims of natural disasters like hurricanes and wildfires.