Investors largely expected the FOMC to cut rates by a quarter point.The Fedread 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
Federal Reserve Chairman Jerome Powell said the he does not see the Fed using negative interest rates in the future.The Fedread more
The decision to cut rates followed a monthslong pressure campaign by Trump, who often criticized Chairman Jerome Powell by name as he called for lower interest rates.Politicsread more
President Barack Obama spoke at an event in San Francisco on Wednesday hosted by software company Splunk and addressed how tech can help solve problems.Technologyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle, Washington. While there, he's scheduled to meet with Boeing executives and...Airlinesread more
Steve Dowling, the head of Apple's public relations department, announced he will be leaving this week.Technologyread more
Tracy Britt Cool is leaving the firm after a decade to start a company that replicates Warren Buffett's business model, the Wall Street Journal reported.Marketsread more
Stocks closed little changed after the Federal Reserve failed to signal it will cut rates again in 2019, disappointing traders.US Marketsread more
A New York-based blockchain consulting firm allegedly extorted a Seattle-based crypto start-up with threats to hijack its initial coin offering, in a case announced Wednesday...Technologyread more
According to a report in the Wall Street Journal, WeWork co-founder Adam Neumann has floated the idea of becoming Israel's prime minister or leader of the world.Technologyread more
Ford said Wednesday its 2020 Mustang Shelby GT500 will have 760 horsepower and 625 foot-pounds of torque.
The Detroit automaker debuted the car in January, saying it would be the carmaker's most powerful street-legal car yet, capable of reaching 60 mph in the "mid-3 second range." The GT500 features a 5.2 liter V-8 engine and is projected to be able to complete a quarter mile in under 11 seconds.
The new Mustang is not available for order yet, but it will be in dealerships this fall, according to spokesperson Daniel Barbossa. The third-generation GT500 also has a carbon fiber track package without a rear seat to reduce weight.
The GT500 will likely be seen as a competitor to Dodge's Challenger Hellcat, which Fiat Chrysler said also surpasses 700 horsepower. The 2019 Mustang GT350 features 526 horsepower, according to Ford's website.
Ford announced last year it would reduce its car lineup in North America, but its iconic Mustang remains part of the auto giant's plans.