The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 on Wednesday — breaching a key psychological level.Bondsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Powell said policymakers are concerned about some of the recent economic developments and see a growing case for easier policy.The Fedread more
Amazon and Blue Origin founder Jeff Bezos gave more insight into his space company's lunar plans on Wednesday.Technologyread more
Sundar Pichai's note reads like a response to growing scrutiny from regulators, press and employees, and echoes a consistent theme of how Google helps people.Technologyread more
Delta warned travelers that a technical problem could delay flights on Wednesday.Airlinesread more
The Fed chief said that despite reports that Trump was looking to demote or fire him, he doesn't plan on leaving anytime soon.The Fedread more
If the Trump administration and Congress fail to reach a spending agreement, the White House will offer to keep the government funded at its current levels for a year, Mnuchin...Politicsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
Passengers using Uber or Lyft are now able to buy drinks, snacks and even phone chargers while they are on their way from A to B.
The initiative comes from tech company Cargo, which has installed boxes of products including protein bar RXBAR, Sour Patch Kids sweets and hangover cure tablets into cars in U.S. cities including New York, Chicago and Baltimore.
Passengers can use their smartphone to choose from a menu on the Cargo mobile site while in transit, tap in their driver's code and choose and pay for their products. Drivers then unlock the display box when the car comes to a stop.
Cargo announced Wednesday that Coca-Cola is now a partner, with the brand providing its Smartwater drink to riders. On Wednesday, the company added Atlanta, home of Coke's global headquarters, to its list of cities where taxis will offer products for sale.
Drivers will earn $1 for each product sold, plus 25 percent commission per sale. They can also earn a weekly $10 bonus when at least 10 items are sold, and Cargo claims that drivers can earn up to $500 a month. Some products, including Smartwater, are free to passengers and therefore won't provide the 25 percent commission (although drivers will still earn the $1 fee). Cargo will ship products to drivers who must agree to keep their display boxes fully stocked at all times, according to the company's online terms and conditions.
Uber and Lyft now represent a new retail outlet, said John Carroll, vice president and general manager for eCommerce at Coca-Cola. "We're very excited to enter this new distribution channel in rideshare with Cargo. Cargo offers an innovative solution to helping Coca-Cola deliver refreshment to consumers in their moment of need in a space that was previously hard to reach at scale," he said in an emailed statement.
Passengers who sign up to Cargo can expect to be sent promotions and content if they opt into marketing, while the tech company will be able to analyze data on what people purchase and how often, as well as where they buy.
Cargo plans to expand to West Coast cities during 2018 and hopes that international expansion will follow. It said it will reach more than 25 million passengers in 20,000 vehicles this year.