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Facebook reported a dip in its quarterly profit Wednesday but said revenues surged on mobile advertising gains, as its user base approaches 1.5 billion. The world's biggest social network said its profit for shareholders dipped nine percent from a year earlier to $715 million, amid higher expenses for investments in new products and apps, and share-based compensation. "This was another strong quarter for our community," said Facebook founder and chief executive Mark Zuckerberg.
CINCINNATI (AP) — A University of Cincinnati officer who shot a motorist during a traffic stop over a missing front license plate was indicted Wednesday on a murder charge, with a prosecutor saying the officer "purposely killed him" and "should never have been a police officer."
The Federal Reserve kept its benchmark federal funds interest rate unchanged at near-zero percent as expected Wednesday, providing no fresh hints on when a long-awaited rate rise might come. The Federal Open Market Committee said the US economy had expanded "moderately" in recent months and the jobs market had strengthened, but noted continued "soft" business investment and exports. It also said that inflation remained softer than monetary policy makers want to see, though noting that much of the weakness is related to the plunge in energy prices over the past year and to cheaper imports, thanks to the strong dollar.