By Suzanne McGee (Reuters) – Assets in actively managed exchange-traded funds (ETFs) worldwide hit a record $1 trillion at the end of August, according to data provider ETFGI, boosted by easier regulations and a wave of product innovation. Active ETFs seek to outperform the indexes they are benchmarked to, including the S&P 500, the Nasdaq…
SHANGHAI (Reuters) – Chinese Foreign Minister Wang Yi said the U.S. deployment of intermediate-range missiles in the Philippines “undermines regional peace and stability”, the foreign ministry said on Sunday. Speaking to South Korean Foreign Minister Cho Tae-yul in New York on Saturday, Wang also called for avoiding “war or chaos on the Korean Peninsula”, the…
FRANKFURT (Reuters) – Thyssenkrupp’s 27,000 steel workers must brace for deep cuts, the new head of the conglomerate’s steel division told a German newspaper, setting the stage for significant layoffs. “Tough cuts are necessary. We have to become more profitable,” Dennis Grimm, spokesperson for Thyssenkrupp Steel Europe’s (TKSE) executive board, told Westdeutsche Allgemeine Zeitung (WAZ)…
(Reuters) – TD Bank is close to a possible guilty plea to criminal charges that its U.S. retail bank failed to curb money laundering tied to Chinese crime groups and illicit fentanyl sales, the Wall Street Journal reported on Friday. Canada’s second-largest lender is in talks with U.S. federal prosecutors and its U.S. retail arm…
(Reuters) – Apple has left negotiations to participate in an OpenAI funding round expected to raise about $6.5 billion, the Wall Street Journal said on Friday. The tech giant recently fell out of the talks for the round, set to close next week, the newspaper said, citing a person familiar with the matter. Other firms,…
By Jasper Ward WASHINGTON (Reuters) – U.S. Representative Alexandria Ocasio-Cortez on Wednesday called on New York City Mayor Eric Adams to resign “for the good of the city” as senior city administration officials have become entangled in multiple federal corruption investigations. “I do not see how Mayor Adams can continue governing New York City,” Ocasio-Cortez,…
By Jasper Ward and Kanishka Singh WASHINGTON (Reuters) -Former U.S. President Donald Trump, who is the Republican presidential candidate, said on Friday he will seek the prosecution of Google if he wins the Nov. 5 election, claiming that the company only displays “bad stories” about him. Trump, in his post on Truth Social, gave no…
(Reuters) – Toyota Motor Corp is recalling over 42,000 U.S. vehicles over loss of power brake assist that can extend the distance required to stop, the National Highway Traffic Safety Administration said on Friday. The recall affects certain 2023-2024 Corolla Cross Hybrid vehicles. The agency flagged a software error in the electronic control unit that…
MEXICO CITY (Reuters) -Chinese automaker BYD is seeking an extension of tariff relief for electric vehicle imports from Mexico’s government, an executive told newspaper Reforma in an interview published on Friday, as the company aims to build a plant in the country. A decree exempting some 15% to 20% of tariff payments on EVs imported…
(Reuters) – St. Louis Federal Reserve Bank President Alberto Musalem on Friday said the U.S. central bank should cut interest rates “gradually” after what he called the “strong and clear message” of a half-point interest-rate cut last week, which he said he supported. “For me, it’s about easing off the brake at this stage. It’s…
