Huawei CEO Ren Zhengfei said in an interview with CNBC the company's business is still strong in China.Technologyread more
The Fed is not likely to make a move on interest rates when it meets this week, but it should clear the way for a rate cut later in the summer.Market Insiderread more
U.S. President Donald Trump officially kicked off his reelection campaign Tuesday at a Florida rally where he exhorted thousands of rollicking supporters to keep advancing his...Politicsread more
BlackRock's global fixed income chief says the European Central Bank just turned up the pressure on the Federal Reserve to more toward easier policy.Market Insiderread more
Global watchdogs and top U.S. Congress members are calling for oversight of a digital asset being launched by Facebook and roughly two dozen other stakeholders.Marketsread more
Facebook's new cryptocurrency project, titled Libra and backed by the likes of Visa and Booking Holdings, is being widely embraced by market watchers.Trading Nationread more
Mortgage applications were down 3.4% from the previous week, but still up 31.6% from a year earlier, according to the Mortgage Bankers Association.Real Estateread more
Trump's remarks came a day before the Fed was set to announce its next decision on interest rates.Politicsread more
Sen. Josh Hawley, a well-known tech critic, introduced legislation on Wednesday that would remove the immunity big technology companies receive for user-posted content under...Technologyread more
Zuckerberg fell out of Glassdoor's top 20 CEO ranking for the first time, although his employee approval rate remains high.Technologyread more
Ford announced that the 2020 Mustang Shelby GT500 has 760 horsepower and 625 lb.-ft of torque, which it says makes this the most powerful street-legal Ford. The car is not yet...Autosread more
Minutes after the FCC , New York Attorney General Eric Schneiderman said he will lead a multistate lawsuit against the "illegal rollback."
"The FCC's vote to rip apart net neutrality is a blow to New York consumers, and to everyone who cares about a free and open internet, " Schneiderman said in a statement.
"The FCC just gave Big Telecom an early Christmas present, by giving internet service providers yet another way to put corporate profits over consumers. Today's rollback will give ISPs new ways to control what we see, what we do, and what we say online. That's a threat to the free exchange of ideas that's made the Internet a valuable asset in our democratic process."
The FCC voted 3-2 on Thursday afternoon to roll back the 2015 Open Internet Order. The change classifies internet service as an information service, rather than a utility, and allows ISPs to treat internet traffic differently depending on its type, origin or destination. For instance, ISPs could create bundles of various internet services at different prices, or slow down video traffic from rival services.
Opponents, including two FCC commissioners, have suggested this will drastically change the way consumers use and pay for the internet.
"Today's new rule would enable ISPs to charge consumers more to access sites like Facebook and Twitter and give them the leverage to degrade high quality of video streaming until and unless somebody pays them more money. Even worse, today's vote would enable ISPs to favor certain viewpoints over others," Schneiderman said.
Schneiderman also said the FCC's "public comment process was deeply corrupted." Instead of holding public hearings, the FCC allowed people to submit millions of comments, some of which were fake.
"The FCC's decision to go ahead with the vote makes a mockery of government integrity and rewards the very perpetrators who scammed the system to advance their own agenda," Schneiderman said.