Investors largely expected the FOMC to cut rates by a quarter point.The Fedread 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
Federal Reserve Chairman Jerome Powell said the he does not see the Fed using negative interest rates in the future.The Fedread more
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
Steve Dowling, the head of Apple's public relations department, announced he will be leaving this week.Technologyread more
Tracy Britt Cool is leaving the firm after a decade to start a company that replicates Warren Buffett's business model, the Wall Street Journal reported.Marketsread more
Stocks closed little changed after the Federal Reserve failed to signal it will cut rates again in 2019, disappointing traders.US Marketsread more
A New York-based blockchain consulting firm allegedly extorted a Seattle-based crypto start-up with threats to hijack its initial coin offering, in a case announced Wednesday...Technologyread more
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
Powell said on Wednesday that the Fed may have to resume regular balance sheet growth to help ease money markets.The Fedread more
Facebook CEO and founder Mark Zuckerberg lost $6.06 billion in Facebook stock value on Monday, amid a flurry of bad news.
Shares of the social media giant plunged as much as 8 percent after reports emerged over the weekend that data analytics firm Cambridge Analytica used the data of over 50 million users of the social network without their permission.
Zuckerberg, together with his affiliated organizations, like the Chan Zuckerberg Initiative, has more than 403 million shares of Facebook stock — 9,347,183 Class A common shares and 393,938,853 Class B common shares, according to Courtney Yu, director of research at compensation data firm Equilar.
Those shares are still worth about $68.5 billion.
Despite his losses, Zuckerberg is still the fourth richest person in the world, behind Jeff Bezos, Bill Gates and Warren Buffet, according to Bloomberg.
With Monday's plunge, Facebook shares are down about 2.6 percent year-to-date. The stock pared losses slightly during Monday trading.
Cambridge Analytica made headlines as the political data analytics firm that worked on Facebook ads for President Donald Trump during the 2016 presidential election. Facebook blocked the firm's data harvesting app in 2015, and announced on Friday it suspended the firm for lying about deleting user data.
Despite Facebook's insistence it has done what it can to protect users' data, the scuffle has stirred up discussion over tech regulations. Virginia Democratic Senator Mark Warner, one of the most prominent voices in the debate about online political advertising, said the Cambridge Analytica-Facebook spat indicative of a market that's "essentially the Wild West" of advertising.