As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
Activists with Black Lives Matter, who met privately with Buttigieg in the weeks after police shot and killed Eric Logan, say the 37-year-old mayor brushed off their concerns...2020 Electionsread more
Trump said he "is revoking" a federal waiver that allowed the state to craft its own rules on greenhouse gas emissions from vehicles.Politicsread more
Wall Street economists think the Fed will cut rates by 25 basis points at its September meeting but have differing views about what will happen in the future.Marketsread more
The Business Roundtable said its members forecast that growth this year will clock in at 2.3%, down from last quarter's estimate of 2.6%.Politicsread more
The unspecified action comes after the U.S. accused Iran of carrying out the weekend attacks on critical Saudi oil installations.Politicsread more
Drone and missile debris recovered by investigators at the Saudi Aramco attack site is proof of Iranian culpability, a Saudi defense ministry representative told media on...World Politicsread more
Four Wall Street firms downgraded FedEx after the company's poor earnings report.Marketsread more
Some worry the regulators will squander an opportunity to crack down on potentially monopolistic behavior due to their own infighting.Technologyread more
FedEx CEO Fred Smith is "basically implying that we're going to import" a global slowdown, says CNBC's Jim Cramer.Investingread more
Oil prices retreated after President Donald Trump said he ordered the Treasury Department to "substantially increase" sanctions on Iran.Energy Commoditiesread more
Overstock shares jumped as much as 21 percent in after-hours trading on Thursday after the e-commerce retailer announced that Hong Kong private-equity firm GSR Capital will invest up to $270 million into Overstock's blockchain subsidiary tZero.
The investment by GSR Capital will be made at a valuation of $1.5 billion, giving the private equity firm an 18 percent stake in tZero. GSR Capital will also purchase $30 million worth of tZero security tokens from Overstock.
The stock rose 4.47 percent during the trading day and closed at $38.60 per share.
"We are honored to have GSR Capital as a strategic investor," said tZERO CEO Saum Noursalehi in a statement. "The tokenization of securities has the potential to disrupt global capital markets responsible for moving hundreds of trillions of dollars. Together with our partners, we will globalize our blockchain-based platform, bringing more efficiency, liquidity, and trust to capital markets."
Overstock launched the tZero cryptocurrency via an initial coin offering on Dec. 18 of last year.