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
Argentina is asking the International Monetary Fund for early release of funds from the country's $50 billion standby financing deal, President Mauricio Macri said in a televised address on Wednesday, a move aimed at calming turbulent markets.
The country's currency has weakened 40.79 percent in 2018. Investors are concerned that with high inflation, a weak economy and fallout from a global selloff in emerging markets, Argentina may have problems meeting its dollar debt obligation in 2019.
"We have agreed with the International Monetary Fund to advance all the necessary funds to guarantee compliance with the financial program next year," Macri said. "This decision aims to eliminate any uncertainty."
The Argentine peso dropped to trade more than 6 percent lower against the dollar on the news.
Argentina's central bank sold a total of $200 million of its reserves in two currency auctions on Tuesday after the peso hit new lows. The currency weakened to a record close of 31.50 per dollar after touching an all-time low of 31.60 to the greenback earlier in the day.
Central bank shows it has sold $12.881 billion in the foreign exchange market this year as monetary policymakers try to stabilize the currency. The government says it expects the country's economy to contract 1 percent in 2018 but grow by at least 1.5 percent next year.