Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
This is a comparison of Wednesday's FOMC statement with the one issued on July 31 after the Fed's previous policymaking meeting.The Fedread more
Ahead of the Fed's 2 p.m. announcement, many economists were forecasting one further cut in 2019, but some investors were hoping for two more this year.The Fedread more
The Fed has become increasingly divided with three officials voting against the Fed's quarter point cut to the fed funds target rate range.Market Insiderread more
The interest on excess reserves now stands at 1.8%, a 30 basis point cut compared to the 25 basis point reduction for the benchmark funds rate.The Fedread more
Stocks traded lower on Wednesday as traders digested the Federal Reserve's latest decision on U.S. monetary policy.US Marketsread more
For consumers, lower rates do mean cheaper loans, which can impact your mortgage, home equity loan, credit card, student loan tab and car payment. n the flip side, you'll earn...Personal Financeread more
Gold edged lower on Wednesday but held about the key $1,500 per ounce level after the U.S. Federal Reserve decided to cut interest rates.Futures & Commoditiesread more
As the Federal Reserve lowers rates, some banks are pulling back their offerings on their savings accounts and certificates of deposit. Even so, they are still pretty good by...Personal Financeread 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
EBay is closing in on a settlement with activist hedge funds Starboard and Elliott Management that could be announced as soon as Friday, according to people familiar with the matter.
EBay may announce separate settlements with Starboard and Elliott, who aren't working together but who have both pushed management to explore breaking up the company, said the people, who asked not to be named because the discussions are private.
As part of the settlement, eBay plans on doing a full strategic and operational review of the company and would name several new board members, said the people. EBay plans to consider either spinning off or selling both its classifieds business and StubHub, two of the people said. EBay could also sell its marketplace business, which could fetch well north of $15 billion, one of the people said. Elliott had projected the Classifieds Group could sell for between $8 billion and $12 billion and estimates StubHub could fetch between $3.5 billion and $4.5 billion, CNBC reported last month.
Elliott believes Google, Walmart or several private equity firms may be interested in buying the marketplace business, CNBC also reported last month.
Talks between EBay and the activist funds are still ongoing and could fall apart, the person said. Both Elliott and Starboard have until March 1 to nominate a slate of board members through a potential proxy fight.
EBay told CNBC no deal is in place and it has nothing to announce. A spokesman for Elliott declined to comment. A spokesperson at Starboard couldn't immediately be reached for comment.