Avie Schneider

The central bank will "act as appropriate" to sustain the economic expansion as the trade war with China takes a toll on global growth and parts of the U.S. economy, Fed Chairman Jerome Powell says.

President Trump's move came after Beijing announced tariffs on $75 billion worth of autos and other U.S. goods. In a tweet, he also "ordered" U.S. companies to stop doing business with China.

The U.S. economy is slowing down, but it keeps creating jobs at a healthy pace. Employers added 164,000 jobs last month — as analysts had projected — and the unemployment rate held steady at 3.7%.

The White House called the brief talks in Shanghai this week between top U.S. and Chinese officials "constructive" and said negotiations are expected to pick up again in early September.

The U.S. growth rate fell to 2.1% in the second quarter amid a slowdown in exports. The Trump administration has targeted a growth rate of 3% or above, citing the Republican tax cuts passed in 2017.

Under a settlement with the Federal Trade Commission, the company will pay $5 billion and its co-founder could be subject to penalties if Facebook doesn't comply with the agreement.

Four months after its top-selling 737 Max airliner was grounded worldwide, Boeing announced a 35% drop in revenues and a loss of $2.9 billion in the second quarter.

The credit reporting agency will pay up to $700 million in fines and monetary relief to consumers over a 2017 data breach that affected nearly 150 million people.

Lawmakers in the Senate and House are questioning lobbyists and officials from Facebook, Google, Amazon and Apple on an array of issues, including whether they're so big they stifle competition.

FedEx has been caught up in the conflict between the Trump administration and Huawei Technologies. Now, the shipper is suing the government to block it from enforcing export regulations against FedEx.