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As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
The interest on excess reserves now stands at 1.8%, a 30 basis point cut compared with the 25 basis point reduction for the benchmark funds rate.The Fedread more
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According to a report in the Wall Street Journal, WeWork co-founder Adam Neumann has floated the idea of becoming Israel's prime minister or leader of the world.Technologyread more
Amazon is launching a new feature that allows presidential candidates to receive campaign contributions through the Alexa voice assistant.Technologyread more
The woman says the abuse by Jeffrey Epstein, a former friend of Presidents Donald Trump and Bill Clinton, began when she was just age 14 or younger.Politicsread more
Federal Reserve Chairman Jerome Powell pledged that the central bank would engage in a "sequence" of interest rate cuts if conditions warrant, but he doesn't see that as...The Fedread more
Billionaire Elon Musk's The Boring Company has sold all 20,000 of its flamethrowers in just five days.
The entrepreneur announced Sunday that his tunneling firm had started selling flamethrowers. The devices were available for pre-order at a price of $500 each, and customers were also able to buy an "overpriced" fire extinguisher with a "cool sticker" for $30.
By Monday, the company had sold $3.5 million worth of flamethrowers. Musk's idea to start selling them followed The Boring Company's unusually successful run selling hats. He said last month that, if the company sold 50,000 hats, it would start selling flamethrowers.
The Boring Company's new product officially sold out Thursday, Musk said on Twitter. That means Musk's infrastructure firm has now sold $10 million worth of the devices.
The flamethrower starts shipping in the spring, according to The Boring Company's website. Musk added on Twitter that the flamethrowers would ship with a "complimentary Boring fire extinguisher."
The billionaire, who is also the CEO of car manufacturer Tesla and aerospace company SpaceX, posted a video to his Instagram account Sunday where he was seen wielding one of the devices and charging toward the person filming him.
Musk's idea to sell flamethrowers has not been welcomed by everyone, however. Miguel Santiago, a Californian politician, said he wants to introduce state-wide legislation to prevent The Boring Company from selling the flamethrowers.