Economy

The US Federal Reserve has raised interest rates by 0.25 percentage points - its first increase since 2006. The move takes the range of rates banks offer to lend to each other overnight - the Federal Funds rate - to between 0.25% and 0.5%.

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The US Federal Reserve has cut its growth forecast for 2014 because of the harsh winter weather. The central bank is now predicting growth of between 2.1% and 2.3% for this year, down from its March forecast of 2.8% to 3%. However in its accompanying statement, the bank said that economic activity had "rebounded in recent months".

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(Reuters) - The Bank of England kept interest rates unchanged on Thursday, seeking to give the economy more time to build before removing its stimulus.

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Facebook has bought messaging app WhatsApp in a deal worth a total of $19bn (£11.4bn) in cash and shares. It is the social networking giant's biggest acquisition to date.

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Former Brazilian President Luiz Inacio Lula da Silva has been convicted of corruption charges and sentenced to nine-and-a-half years in prison, court documents show.

AMMAN, Jordan — As next in line to be king of Saudi Arabia, Mohammed bin Nayef was unaccustomed to being told what to do. Then, one night in June, he was summoned to a palace in Mecca, held against his will and pressured for hours to give up his claim to the throne.

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