After the Fed released minutes of its last meeting, the bond market signaled it fears the Fed will not be aggressive enough with its rate cutting.Market Insiderread more
The Fed minutes also note that "a couple" members wanted a 50 basis point cut, based primarily on the weak inflation readings.The Fedread more
Japanese manufacturing activity shrank for a fourth straight month in August as export orders fell at a sharper pace.Asia Marketsread more
Analysts generally doubt how effective the People Bank of China's latest interest rate announcement will be in significantly helping businesses grow.China Economyread more
The Washington governor had centered his campaign around climate change, calling it "the most urgent challenge of our time."Politicsread more
The inversion is seen by many veteran traders as an important recession omen, though the timing on the eventual downturn is less predictable.Bondsread more
Here's what Nordstrom reported for its fiscal second-quarter earnings.Retailread more
The sexy image that once boosted Victoria's Secret has been haunting L Brands more recently, as women are steering clear of the brand's hot pink, lacy and bejeweled lingerie.Retailread more
Ford is one of four automakers that reached a voluntary agreement with California on fuel efficiency rules, defying Trump and his administration's effort to strip the state of...Autosread more
See which stocks are posting big moves after the bell.Market Insiderread more
"I'd love to say that the optimistic universe is most likely to prevail, but the talking heads talk endlessly about how a recession is inevitable," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Japan Post on Wednesday said it will buy 7 percent of U.S. insurer Aflac for about $2.4 billion, as the postal and financial conglomerate seeks new profit-drivers to counter weak growth prospects.
Japan Post, majority-owned by the government, will acquire the stake in Georgia-based Aflac through open market or private block purchases, the companies said in separate statements.
Without buying any additional shares, Japan Post's stake will grow to 20 percent in terms of voting rights after four years in accordance with shareholder rights given by Aflac, the companies said.
In accounting rules, Japan Post would be able to book Aflac's profit as its own in proportion to its stake when it holds 20 percent or more.
"Aflac's growth will contribute to Japan Post's profit," Japan Post Chief Executive Masatsugu Nagato said at a news conference.
Known for the Aflac Duck character, the U.S. company garners 70 percent of its revenue from its Japan business, where it is the oldest and biggest cancer-insurance provider.
The two companies already have a tie-up agreement that allows Aflac to sell its cancer insurance policies at post offices across Japan.
Japan Post, about 57 percent government held, owns Japan Post Bank and Japan Post Insurance, in addition to its mail delivery business with 24,000 post offices nationwide.
With almost all of its profit coming from the financial units, Japan Post has been struggling to find new businesses that can become growth drivers.
The purchase is Japan Post's second multibillion-dollar bet after the $4.9 billion acquisition of Australian logistics company Toll Holdings in 2015. It had to write down the bulk of Toll's value only two years after the deal due to its weak performance.