China cuts interest rates for the 3rd time in 6 months. The rate cut comes amid a worse than expected economic slowdown. The Wall Street Journal reports that senior Chinese officials are growing more fearful that the mountain of debt from the rapid expansion of credit over the past few years is weighing on efforts to pick up the world’s second largest economy. Amazon (AMZN) wants its drones to track the location of the person receiving a package via the person’s smartphone. According to a patent filing, the drones would also be able to communicate with each other on weather and traffic. Conoco Phillips is fined in California for environmental law violations.
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