Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
The lack of clarity surrounding the U.S.-China trade war is what's really hitting global growth, says ex- Deputy Treasury Secretary Sarah Bloom Raskin.World Economyread more
China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.China Economyread 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
New crash tests show the Tesla Model 3 and the Audi e-tron, are among the safest models out on the road. The results bolster the theory electric vehicles may be better...Autosread more
U.S. consumers and growth in sectors such as technology have offset declines in other American industries, says Tom Finke, chairman and CEO of investment management firm...US 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
Last weekend's attacks on oil facilities — and the spike in crude prices that followed — should show that the world needs to stop relying on oil, says Helen Clark.Energyread 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
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread 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
Facebook "instituted its biggest executive shakeup in its 15-year history this week," Recode reported on Tuesday, a reorganization that will include a new blockchain effort and aims to address privacy concerns.
Facebook confirmed the details of the reorganization.
The experimental blockchain group will be led by David Marcus, the executive most recently in charge of Facebook's Messenger group. Marcus sits on the board of directors of Coinbase, an exchange for cryptocurrency (which uses the blockchain as its underlying technology), and joined Facebook from PayPal in 2014.
Marcus confirmed his new role in a tweet:
Facebook will now operate under three divisions: a "family of apps" group (including Facebook, Instagram, WhatsApp and Messenger), a new platforms division (including a blockchain technology team, augmented and virtual reality, enterprise technology and artificial intelligence) and a "central product services" team, which covers shared resources like ads, data analytics and security.
The report comes as Facebook has faced fallout over data privacy and "fake news," amid revelations of data sales to outside firms like Cambridge Analytica, and evidence of Russian election interference. Meanhwhile, Facebook has tried to keep its ad revenue growing through newer, younger platforms like WhatsApp and Instagram.
WhatsApp co-founder Jan Koum announced last month he was leaving the company. As part of this week's reorganization, most Facebook apps are getting new leaders, save Instagram, which will continue to be run by Instagram CEO Kevin Systrom.
Facebook separately announced on Tuesday that it added Jeff Zients, the CEO of Cranemere, to the board. Zients will join the audit committee, Facebook said, as will another recently added board member, Kenneth Chenault. Venture capitalist Marc Andreessen will also be on the committee but will no longer be on the compensation and governance committee.
—CNBC's Michelle Castillo contributed to this report.