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
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 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
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
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread 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
SoftBank has entered an agreement with Japan's most popular messaging service Line to acquire a majority stake in the company's mobile business.
Line Corp, which is dual-listed in New York and Tokyo, said Wednesday that it would enter into a strategic partnership with the Japanese tech giant to expand the provision of its mobile service.
SoftBank will hold a 51 percent stake in Line Mobile, Line's mobile virtual network operator (MVNO), following the allocation of new shares, while Line will hold 49 percent. Line said it expects the transaction to be completed around March.
Ayano Kado, representative director and president of Line Mobile, said in a statement: "Through this partnership between Line — which brought to light a new form of communication in the smartphone generation — and SoftBank — the first carrier in Japan to carry the iPhone and drove the smartphone market — we will bring together our mutual strengths and strive to further improve users' experiences with Line Mobile and continue to provide an appealing service that builds value in response to users' diverse needs."
Kado will continue in her role as Line Mobile's representative director and president, the company said.
SoftBank was not immediately available for comment when contacted by CNBC.
Line, which has 200 million monthly active users globally, is facing increased competition from the likes of Facebook-owned WhatsApp in its four key markets of Japan, Thailand, Indonesia and Taiwan.
The firm said that its MVNO business "continues to grow steadily" despite a slowdown in growth among the broader MVNO market.
The Japanese company also said that it plans to launch a cryptocurrency exchange, loans and insurance to its offering, in addition to its current in-app money transfer and payment service.