November 20, 20240 Comments

China funds cut ETF fees, escalating price war in booming market By Reuters

SHANGHAI/HONG KONG (Reuters) – Major Chinese fund companies announced a reduction in fees for a batch of equity exchange-traded funds (ETFs) on Wednesday, intensifying price competition in the rapidly expanding $400 billion sector of the market. The move to cut management and custodian fees came a day after Wu Qing, China’s chief securities regulator, pledged to encourage index investment and fund industry fee reform. ETFs – funds that typically track

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November 19, 20240 Comments

Winter fuel cut to put 50,000 pensioners into relative poverty

An additional 50,000 pensioners will be living in relative poverty next year as a result of cuts to the winter fuel allowance, the government’s own estimates have revealed. Earlier this year, Chancellor Rachel Reeves announced the £300 payment would be restricted to all but the poorest pensioners – those eligible for pension credit. In a bid to soften the impact of the cuts, the government launched a campaign to encourage

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November 19, 20240 Comments

Nestle to cut costs, boost marketing under CEO Freixe By Reuters

VEVEY (Reuters) -Nestle will boost advertising and marketing, trim costs, carve out its water and premium drinks businesses into a standalone global unit, and implement other changes to drive growth under new chief Laurent Freixe, the company said on Tuesday. The Swiss food giant aims to achieve cost savings of at least 2.5 billion Swiss francs ($2.83 billion) by 2027, in addition to ongoing savings of around 1.2 billion Swiss

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November 18, 20240 Comments

Hundreds of Honduran villages cut off by rain

Reuters Many roads and bridges became impassable after days of rain Torrential rain caused by Tropical Storm Sara has cut off more than 1,700 communities in Honduras. The slow-moving storm caused widespread flooding across the Central American nation. So far, Honduran officials have confirmed only one death but said that more than 110,000 people had been affected by the storm. Forecasters say Sara is likely to further weaken on Monday

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November 17, 20240 Comments

Stocks fall after Jerome Powell says Fed in no hurry to cut rates

Breadcrumb Trail Links Investor S&P 500 headed for its worst week in more than two months Author of the article: Bloomberg News Margaryta Kirakosian and Allegra Catelli Published Nov 15, 2024  •  Last updated 1 day ago  •  2 minute read You can save this article by registering for free here. Or sign-in if you have an account. Federal Reserve Chair Jerome Powell speaks to the Dallas Regional Chamber on Thursday.

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November 16, 20240 Comments

30-year-old took a pay cut to work for herself—and doesn’t regret it

In 2023, Anna-Marie Ortiz worked remotely for a fintech startup, where she earned $60,000 a year. She liked the job well enough, but wasn’t sure what her future at the company would look like. “I realized I can’t wait around for other people’s dreams, and that’s when I decided to go all in on mine,” she tells CNBC Make It. That July, Ortiz used the last of her $2,000 in

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November 16, 20240 Comments

Austria says Russia to cut off gas from Saturday By Reuters

By Nina Chestney, Francois Murphy and Dave Graham LONDON/VIENNA (Reuters) -Russia told Austria on Friday it will suspend gas deliveries via Ukraine on Saturday, in a development that signals a fast-approaching end of Moscow’s last gas flows to Europe. Russia’s oldest gas-export route to Europe, a pipeline dating back to Soviet days via Ukraine, is set to shut at the end of this year. Ukraine has said it will not

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November 16, 20240 Comments

Mortgage rates rise despite interest rate cut

Getty Images Mortgage costs are rising – with the average rate on a two-year fixed deal now at 5.5% – despite a recent cut in interest rates. A string of lenders, including Barclays, HSBC, NatWest and Nationwide, have increased the rates charged on new fixed deals in recent days. That has created a headache for borrowers hoping costs were on a consistent downward trend, especially in light of the Bank

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