November 20, 20240 Comments

Trump to interview Warsh, Rowan for Treasury job on Wednesday, Bloomberg News reports By Reuters

(Reuters) – U.S. President-elect Donald Trump is scheduled to interview former Federal Reserve Governor Kevin Warsh and Apollo Global Management (NYSE:) CEO Marc Rowan on Wednesday for the post of Treasury Secretary, Bloomberg News reported on Tuesday, citing people familiar with the matter. The Financial Times separately reported on Tuesday that Rowan has emerged as a top contender for the Treasury job, citing several people familiar with the matter. The

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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 20, 20240 Comments

Kadokawa shares jump 16% after news of Sony talks By Reuters

By Sam Nussey TOKYO (Reuters) – Kadokawa’s shares jumped 16% in early Tokyo trading on Wednesday, a day after Reuters reported Sony (NYSE:) was in talks to acquire the publishing, anime and gaming powerhouse. Shares in Kadokawa, which controls “Elden Ring” developer FromSoftware, closed up 23% at their daily limit on Tuesday after the news. The deal would bolster Sony’s entertainment portfolio which spans games, movies, music and anime. “Anime

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November 19, 20240 Comments

Senator says Trump cannot ignore law requiring ByteDance to divest TikTok by next year By Reuters

WASHINGTON (Reuters) – The chair of a U.S. Senate Judiciary subcommittee said on Tuesday that President-elect Donald Trump cannot ignore a law requiring Chinese-based TikTok to divest the short video app used by 170 million Americans by early next year. Senator Richard Blumenthal, a Democrat who is holding a hearing on Chinese hacking incidents, noted that Congress passed a law in April requiring divestiture of the app by Jan. 19,

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November 19, 20240 Comments

Factbox-What new taxes could help raise money to fight climate change? By Reuters

BAKU (Reuters) – The COP29 climate talks in Azerbaijan aim to agree an annual finance target of $1 trillion or more a year to help poorer countries respond to global warming. Some see new taxes as one way to get there. The Global Solidarity Levies Task Force (GSLT), led by France, Barbados and Kenya, is exploring the issue. Below are extracts from its latest report on the options being discussed

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November 19, 20240 Comments

Nebraska files antitrust lawsuit against heavy-duty truck manufacturers over EV push By Reuters

(Reuters) – Nebraska Attorney General Michael Hilgers on Tuesday filed an antitrust lawsuit against some of the largest heavy-duty truck manufacturers accusing them of limiting the availability of diesel-powered semi-trucks in a shift to electric trucks. The lawsuit says the truck makers are engaged in “an industry-wide conspiracy to completely phase out medium and heavy-duty ICE vehicles” to comply with California’s regulations that aim to essentially eliminate semi-trucks with internal

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November 19, 20240 Comments

Rheinmetall aims for 20 billion euros in sales in 2027 By Reuters

BERLIN (Reuters) -Rheinmetall aims for 20 billion euros ($21.08 billion) in sales for 2027, boosted by increased defence spending by EU and NATO country leaders in response to the Ukraine war, the German defence group said in a Capital Markets Day presentation. There is also potential for an 18% operating margin for 2027, said the company on Tuesday, singling out increased market potential by its entry in the United States

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November 19, 20240 Comments

Miners, real estate lead gains in European shares By Reuters

(Reuters) – Europe’s main stock index rose on Tuesday, boosted by strength in shares of miners and a rebound in real estate stocks, with ongoing corporate earnings, economic data and global monetary policy outlook set to further shape market sentiment. The pan-European was up 0.4% as of 0810 GMT, with basic resources leading the sectoral charge with a 1% rise. The real estate sector also climbed 0.8%, after dropping nearly

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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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