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
Steve Dowling, the head of Apple's public relations department, announced he will be leaving this week.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
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
Powell said on Wednesday that the Fed may have to resume regular balance sheet growth to help ease money markets.The Fedread more
Representatives from four of the big five tech companies — Apple, Amazon, Google and Facebook — will appear before the House Antitrust Subcommittee on July 16 for a hearing on "dominant platforms and innovation," the subcommittee announced Tuesday.
The four big tech companies are each sending policy executives to testify before the subcommittee. They include:
In a release announcing the hearing, the subcommittee said it would "examine the impact of market power of online platforms on innovation and entrepreneurship." Experts such as Columbia Law School professor Tim Wu will also be in attendance.
The hearing comes as the Federal Trade Commission and and Department of Justice are said to be looking into large tech companies as they build a potential antitrust case. Shares of Amazon, Facebook and Google's parent company Alphabet all dropped earlier last month following a string of reports that said the agencies were preparing antitrust probes into the companies.
Meanwhile, regulation and a potential breakup of the largest tech companies has turned into a campaign issue for the 2020 presidential election. Most notably, Sen. Elizabeth Warren has called for Apple, Alphabet, Amazon and Facebook to all be broken up.