Investors largely expected the FOMC to cut rates by a quarter point.The Fedread 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
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
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
The U.S. Federal Reserve on Wednesday cut its overnight rate by 25 basis points to a range of 1.75% to 2%, a move that was widely expected. The central bank, however, appeared...Asia Marketsread more
Investors bought bank stocks because there's a chance the Federal Reserve's interest rate cut may "put an end to this artificially inverted yield curve," Jim Cramer says.Mad Money with Jim Cramerread more
AT&T is considering selling DirecTV, according to a report in the Wall Street Journal.Technologyread more
The Facebook CEO will talk to policymakers "about future internet regulation," according to a spokesperson.Technologyread more
Disney CEO Bob Iger writes in his autobiography that he believes he would have discussed combining Disney with Apple had Steve Jobs lived.Technologyread more
They join at least seven senior Facebook executives who have announced their departures this year.
"Kevin and Mike are extraordinary product leaders and Instagram reflects their combined creative talents," Facebook CEO Mark Zuckerberg said in a statement. "I've learned a lot working with them for the past six years and have really enjoyed it. I wish them all the best and I'm looking forward to seeing what they build next."
The departures come at a tumultuous time for Facebook, as it continues to lose senior executives. The company — which calls its top ranks a family and prides itself on keeping executives around — has been battling privacy scandals and declining trust.
Instagram had become something of Facebook's shining star, so the simultaneous exits of its two founders leave some big shoes to fill.
"I've been blessed to work with such an incredibly small team," Koum said in a statement at the time. "The team is stronger than ever and it'll continue to do amazing things. I'm taking some time off to do things I enjoy outside of technology, such as collecting rare air-cooled Porsches, working on my cars and playing ultimate frisbee."
Koum led WhatsApp for nearly a decade and joined Facebook's leadership team in 2014 when the social media giant bought WhatsApp for $19 billion.
Elliot Schrage, head of communications and public policy, said in June he was leaving Facebook after more than 10 years.
"I've decided it's time to start a new chapter in my life," Schrage said in a post to his Facebook page. "Leading policy and communications for hyper growth technology companies is a joy — but it's also intense and leaves little room for much else."
In July, Colin Stretch, Facebook's top lawyer, announced he'd be leaving the company after more than eight years.
"When my wife Alyse and I made the decision a few years ago to move back to DC from California, we knew it would be difficult for me to remain in this role indefinitely," he said in a Facebook post. "As Facebook embraces the broader responsibility Mark has discussed in recent months, I've concluded that the company and the Legal team need sustained leadership in Menlo Park."
As general counsel, Stretch represented Facebook before Congress to address Russian interference in the 2016 presidential election.
"I often stop myself and ask how I got so lucky to be a part of this," Stretch said in the post announcing his exit.
In the memo — reported by Buzzfeed news — Stamos said a re-organization of his team left him eyeing a transition:
I initiated the discussion of changing the structure of the InfoSec team just before Thanksgiving 2017. This was due to my concerns that organizational issues impaired our election security work in 2016. While the outcome of this discussion was not one I proposed, at the time I committed myself to making the transition as smooth as possible and trying to set the new teams up for success. I am genuinely proud of the capable, diverse security teams we have built and I truly want my colleagues to continue to be successful in their vital work.
The re-org, did, however, leave me with a challenge, in that it created a big mismatch between the responsibilities I felt carrying the Chief Security Officer title and the potential for big impact I could have from my redefined role. This conundrum was pretty obvious to many, and when people internally asked if I was leaving I rather openly told them that I was committed to staying through August.
Stamos had been at Facebook since 2015. He's now teaching at Stanford University.
"For the last three years, I have been proud to work with some of the most skilled and dedicated security professionals in the world in one of the most difficult threat environments faced by any technology company," Stamos said in a Facebook post confirming his departure.
Also in August, Dan Rose, one of Facebook's earliest executives and VP of partnerships, said he was leaving. Rose joined Facebook in 2006, and is leaving to join his family in Hawaii.
"Over the past 12 years, this company has become my second family. When people ask me why I'm still at Facebook after so long, my answer is always simple — I love the people I work with and I believe deeply in our mission," Rose said in a Facebook post.
"Mark and Sheryl changed my life and my career. I would walk through fire for them, or fly across the ocean on a regular basis. But they deserve someone in my role who is present and fully engaged every day in the many opportunities and challenges that lie ahead," he said.
Earlier this month, Netflix announced it had poached Rachel Whetstone, a top communications executive at Facebook.
Whetstone had only been at the company for a year. She is the only executive on this list not to comment on her exit on her personal Facebook account. She follows her boss, Schrage, in leaving.
Also this month Alex Hardiman, head of news products, announced her departure. Hardiman had been at Facebook for what she called "two deeply gratifying years," and will join The Atlantic.
"I've always been a news person. It's my passion during the workday and my guilty pleasure on nights and weekends," Hardiman said on her Facebook page. "It's why I spent a decade at The [New York] Times before coming to Facebook to help tackle some of the company's formidable news challenges, and it's why I'm now joining The Atlantic at a unique moment in its history."
"Facebook has given me so many things for which I'm profoundly grateful: wildly talented colleagues, great relationships with news organizations that are reinventing their future, and deep humility for the difficulty of solving nuanced problems at Facebook's scale," she said.