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☆ Next level up for ETFs are actively managed funds, say money managers
▼ + stars: | 2023-11-19 | by ( Natalie Zhang | ) www.cnbc.com time to read: +2 min

Actively managed exchange-traded funds are having their time in the limelight as ETF managers seek new strategies beyond passive funds. "But with active management, you can differentiate assuming the active manager is actually doing something meaningfully different than the underlying benchmark," he added. While active ETFs have been around since 2008, the popularity took off in 2019 after the SEC eased launch restrictions. So far this year, the number of active ETFs that have launched have already overtaken passive ETFs by a ratio of three to one, according to Morningstar. While it's the firm's first active ETF, GMO has run a traditional actively managed mutual fund called the GMO Quality Fund (GQETX) since 2004.

Persons: Nate Geraci, Morningstar, Franklin, It's, Tom Hancock, we've Organizations: Edge, SEC, Asset Bond, Quality

☆ GM reportedly slammed Ford over its plan to use Chinese battery technology in EVs
▼ + stars: | 2023-09-28 | by ( Hayley Peterson | Nora Naughton | ) www.businessinsider.com time to read: +4 min

General Motors and Ford appear to be feuding over the use of Chinese battery technology in electric cars. AdvertisementAdvertisementGeneral Motors and Ford appear to be at odds over the use of Chinese battery technology in electric cars. It's not clear yet whether that means Ford's use of Chinese battery tech will disqualify some of its cars. China at the bargaining tableFord halted construction on a new battery plant in Michigan this week as Republican lawmakers apply more scrutiny to the company's ties to a Chinese battery maker. When Ford announced the $3.5 billion EV battery plant earlier this year, the company said it would be contracting battery technology from China's Contemporary Amperex Technology Co. Ltd., or CATL.

Persons: —, Mary Barra, GM's, Jim Farley, Biden, what's, We're Ford, Chris Smith, Ford, GM didn't, T.R, Reid, Shawn Fain, Fain Organizations: Motors, Ford, GM, Service, Wall Street Journal, Ford Motor, EVs, Amperex Technology, . Ltd, Bloomberg, United Auto Workers, Detroit, UAW Locations: China, America, Michigan, Marshall , Michigan, Dearborn , Michigan

☆ They Quit Their Jobs. Their Ex-Employers Sued Them for Training Costs.
▼ + stars: | 2023-09-27 | by ( H. Claire Brown | ) www.nytimes.com time to read: +2 min

Ms. Tremain tends to hear from people after they’ve quit their jobs and received a letter from their former employer stating that they owe money for training. Employers see T.R.A.s as a way to improve retention and prevent paying for training employees who then leave soon after. Dan Pyne, a lawyer with Hopkins & Carley, a law firm in Silicon Valley, who has written T.R.A.s and represented employers enforcing T.R.A. The other group is employers looking to help employees gain new skills that will serve them later on in their careers. “When the training is required by the employer, that is the employer’s cost of doing business, and they can’t force the employee to bear that cost or to reimburse that cost,” Mr. Pyne said.

Persons: Tremain, they’ve, “ It’s, ”, Dan Pyne, Carley, Mr, Pyne, Oh Organizations: Employers, Hopkins Locations: Silicon Valley, California, Bellevue, Wash

☆ Ford pausing work on $3.5 billion Michigan electric vehicle battery plant
▼ + stars: | 2023-09-25 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +3 min

CNN —Ford is pausing work on a new, $3.5 billion electric vehicle battery plant in Michigan, even as the transition to electric vehicles has become a major sticking point in a United Auto Workers strike against automakers Ford, GM and Stellantis. No final decision has been made on whether the plant will, ultimately, become operational, said Ford spokesman T.R. If completed, the plant will be located on a 950-acre site in southern Michigan near the town of Marshall. The battery plant was planned to operate in addition to plants in Kentucky and Tennessee that Ford announced in 2021. Ford has said it plans to be able to produce 2 million electric vehicles globally by late 2026.

Persons: CNN — Ford, T.R, Reid, Ford’s, Ford, “, ”, ” Ford, Shawn Fain Organizations: CNN, United Auto Workers, Ford, GM, Marshall, General Motors, UAW, Ford Motor Co, Amperex Technology, SK Innovations Locations: Michigan, Marshall, United States, Kentucky, Tennessee, South Korea

☆ A tiny 'ice mouse' with teeth the size of sand grains survived some of the coldest temperatures when dinosaurs roamed the Earth
▼ + stars: | 2023-09-19 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +4 min

Researchers found fossil teeth of a tiny shrew-like animal that lived in freezing temperatures. AdvertisementAdvertisementShe and her colleagues described the S. mikros based on its teeth in the Journal of Systematic Palaeontology in August. "It is kind of interesting to imagine all these great big dinosaurs marching around" alongside the shrew-like animal, Eberle told Insider. The S. mikros' teeth were significantly different from its near relatives to seem like a new species. Though tiny, the S. mikros teeth are detailed enough to designate the animal as a new species.

Persons: would've, Jaelyn Eberle, Eberle, they're, mikros Organizations: Service, University of Colorado, Palaeontology Locations: what's, Alaska, Wall, Silicon, Boulder, Eberle et

☆ Fact Check-Kyiv street sprinklers predate Ukraine war
▼ + stars: | 2023-08-18 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

Posts online suggest the sprinkler system had been funded by U.S. funds sent to support Ukraine’s war efforts against Russia. Reuters images from 2019, taken in central Kyiv, show the same water sprinkler system (reut.rs/45xNzRm) and (reut.rs/47yQdIc). Reuters photographer Gleb Garanich confirmed the location of the images as Khreschatyk Street. Photos dating to 2019 on photo hosting website Alamy also show the water sprinkler system on Khreschatyk Street (here), (here). Water sprinklers in central Kyiv predate U.S. assistance to Ukraine during its war with Russia.

Persons: “, Mr, Biden, Gleb Garanich, Alamy, Read Organizations: U.S, Facebook, Reuters Locations: Kyiv, Ukraine, Russia, U.S

☆ Morning Bid: Fed turns screw, Micron pops
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +3 min

But as investors hit the half-year mark tomorrow, the tightening credit environment tempered fresh risk-taking. Two-year Treasury yields crept higher to 4.77% on Thursday after all the news, with the dollar (.DXY) firmer too and S&P500 futures marginally positive - helped by Micron. The VIX (.VIX) volatility gauge remains subdued at 13.6. Powell's relative hawkishness was mostly matched by counterparts at the European Central Bank and Bank of England yesterday. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan, Jerome Powell's, Powell, Riksbank, Jerome Powell, Raphael Bostic, Paychex, Elaine Hardcastle Organizations: Federal Reserve, Micron, European Central Bank and Bank of England, Atlanta Fed, Nike, McCormick, Paychex Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, Asia, Europe, Japan, China, Madrid, Dublin, Brussels

☆ Morning Bid: G4 central bankers speak, chips wars rumble
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: +4 min

The picture was complicated further overnight as Tuesday's macro-driven rally in Wall St stocks was sideswiped by renewed Sino-U.S. trade tensions. AI darling Nvidia recoiled 4% (NVDA.O) in out-of-hours trade after reports Washington is considering new curbs on chip exports to China. But Wednesday's trading may well be dominated by news from a power panel at the European Central Bank's annual forum in Portugal. In currency markets, the dollar (.DXY) was firmer - especially against China's yuan , which hit a new low for the year. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Dolan Eyeing, Jerome Powell, Christine Lagarde, Kazuo Ueda, Andrew Bailey, disinflation, Joe Biden, Wall, General Mills, Mike Dolan, John Stonestreet Organizations: Nvidia, Central, Federal, Bank of Japan, Bank of England, Wall St, Japan's Nikkei, People's Bank of China, European Central Bank, Bank of, ECB, Treasury, Micron Technology, General, General Mills New, Thomson, Reuters Locations: U.S, Wall St, Washington, China, Portugal, Australia, Canada, Chicago, Shanghai

☆ Ford to lay off workers as it focuses on electric vehicles
▼ + stars: | 2023-06-27 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +1 min

New York CNN —As Ford shifts to producing more electric vehicles, it expects to lay off a number of employees, mostly engineers, in North America over the coming days. “This is related to the Ford+ growth plan we introduced in 2021 and have been increasingly implementing over the past year,” said Ford spokesman T.R. As part of the so-called Ford+ plan, in 2021 the company was split into three broad operating units: Ford Blue for internal combustion-powered vehicles, Ford Model E for electric vehicles and Ford Pro focused on commercial vehicles. Ford executives said in March that the company will lose $3 billion this year on sales of electric vehicles but still expects to meet its profit targets of $9 billion to $11 billion for the year. It also expects to begin earning profits on electric vehicles soon.

Persons: ”, T.R, Reid, ” Ford, Jim Farley Organizations: New, New York CNN, Ford, Ford Pro Locations: New York, North America, United States, Canada

☆ Opinion | Can Judge Cannon Preside Fairly Over the Trump Trial?
▼ + stars: | 2023-06-15 | by ( ) www.nytimes.com time to read: +2 min

JahnsHemet, Calif.To the Editor:I was as disgusted as anyone by Judge Aileen M. Cannon’s ruling last year awarding Donald Trump a special master to review documents seized by the Justice Department. I think it would be appropriate for her to recuse herself based on the appearance of bias she has created, along with the fact of being a Trump appointee. We liberals have no right to criticize the polarized state of American politics if we refuse to examine and report on both sides of any given issue fairly. Steve BenkoSouthport, Conn.To the Editor:We should think very carefully about whether Judge Aileen M. Cannon has a conflict of interest in adjudicating a criminal matter involving the president who appointed her. While other judges have presided over cases involving the presidents who appointed them, this one presents unprecedented issues of law, politics and legal ethics.

Persons: Aileen M, Cannon’s, Donald Trump, I’m, Trump lackey, Steve Benko, Cannon Organizations: Justice Department, American Bar Association, Duke University, University of Michigan, Trump Locations: Jahns Hemet, Calif, Steve Benko Southport, Conn, adjudicating

MAYA BAY, Thailand, March 27 (Reuters) - On any given day in Thailand's Maya Bay, up to 40 blacktip reef sharks cruise in the cyan shallows while about 4,000 tourists visit its white-sand beach flanked by towering cliffs. Marine researcher Metavee Chuangcharoendee said that thanks to the pause in tourism the island was once again functioning as a nursery for young sharks. A number of factors affect the sharks around Phi Phi Leh Island, including seasonal movement patterns and human activity like fishing, Metavee said. For Phi Phi Island National Park, annual revenue was almost halved from 638.3 million baht ($18.7 million) in 2018 to 373.6 million baht in 2019 after authorities closed the beach. "If you can create a new image of Maya Bay as a nature reserve ...

☆ Bank of America says buy these 30 small-cap stocks that are set to outperform as we enter an economic downturn and bank collapses worsen
▼ + stars: | 2023-03-17 | by ( Laila Maidan | ) www.businessinsider.com time to read: +2 min

The note recommends sticking to value and emphasizing free cash flow when investing in small caps. The 30 stocks below are the top contenders from the Russell 2000 set to best perform in this phase. Yep, we've entered the "downturn" phase, says a March 14 note from Bank of America. Specifically, they should focus on value with an emphasis on free cash flow (FCF), which is what's leftover after a company has covered its operating and capital expenses. And when the economy turns the corner, small-cap, value stocks tend to lead the market's recovery, usually outperforming over multiple years, according to David Wagner, portfolio manager for the SmallCap Value Fund at T.Rowe Price (PRSVX)Below is a list of 30 small-cap stocks compiled by Bank of America and pulled from the Russell 2000 that have an analyst "Buy" rating.

☆ Asia stocks rally, bonds tense for U.S. rate tests
▼ + stars: | 2023-03-06 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

Japan's Nikkei (.N225) climbed 1.0% to a three-month top, while South Korean stocks (.KS11) added 0.6% helped by a softer reading on inflation. S&P 500 futures dipped 0.1% and Nasdaq futures 0.2%, after rallying on Friday as bond yields eased back a little. Futures imply a 72% chance the Fed will go by 25 basis points at its meeting on March 22. The BOJ jolted markets in December when it unexpectedly widened the allowed trading band for 10-year bond yields to between -50 and +50 basis points. Friday's pullback in bond yields helped gold recover some ground and it was trading at $1,855 an ounce .

The area, part of Khyber-Pakhtunkhwa province, is a hotbed for fighters of the Tehreek-e-Taliban Pakistan (TTP), an umbrella organisation of Sunni Islamist groups. A TTP spokesman, Muhammad Khurasani, told Reuters its main target was Pakistan's military, but the police were standing in the way. "Khyber-Pakhtunkhwa pays a greater price for that" because of its exposure to the Islamist militants, he said. The TTP ended the ceasefire in November 2022, and regrouped militants restarted attacks in Pakistan soon after. Reporting by Gibran Naiyyar Peshimam and Jibran Ahmad in Bara, Pakistan; additional reporting by Saud Mehsud in Dera Ismail Khan, Pakistan; editing by David Crawshaw.

☆ Rate jitters extend February flop for stocks
▼ + stars: | 2023-02-22 | by ( Naomi Rovnick | ) www.reuters.com time to read: +4 min

[1/3] The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, February 16, 2023. "The economic data has been much more resilient than we all thought (it would be) and we have to accept that." "A bear market rally driven by expectations that inflation would drop and interest rates would peak out may be over," said Trevor Greetham, head of multi-asset at Royal London Asset Management. "The big call this year will still be (a) recession," he added, as "interest rates go higher," in a move that would eventually spark "an earnings driven bear market (that) hasn't started yet." New Zealand's central bank also raised interest rates by 50 bps on Wednesday to a more than 14-year high of 4.75%, flagging more monetary tightening to come.

☆ Fact Check-Fabricated Lauren Boebert tweet about Jimmy Carter and vaccines created as satire
▼ + stars: | 2023-02-21 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

A fabricated screenshot appears to show Republican U.S. Representative Lauren Boebert saying that “vaccines don’t make you live forever,” in reference to a recent announcement about former U.S. President Jimmy Carter’s health. While the screenshot was created as satire, it has duped some users into thinking it is real. The purported tweet is dated Feb. 18, 2023, and reads: “Jimmy Carter was vaccinated. The fake screenshot (here) (bit.ly/3xDmeOI) was originally posted by Twitter account @FaithRubPol (www.twitter.com/FaithRubPol). Lauren Boebert did not post a tweet about Jimmy Carter and vaccines.

☆ Exclusive: Guyana aims to reclaim, offer 20% of Exxon oil block
▼ + stars: | 2023-02-17 | by ( Sabrina Valle | ) www.reuters.com time to read: +5 min

The group's contract allows Guyana to reclaim unexplored portions this year, Jagdeo said in an interview from the country's capital. Guyana is pursuing a multi-pronged strategy to lessen the consortium's grip on the country's oil resources, Jagdeo said, and spur new oil production. The decision to reclaim existing Exxon blocks signals urgency to speed development. Guyana also has development areas outside the soon-to-be-auctioned 14 blocks, and is prepared to offer them to "these countries on a bilateral level." The PSA draft will go through public consultation through March 8 and is expected to be finalized before an April 14 auction, Jagdeo said.

☆ Cracks begin to show in India's Himalayan building spree
▼ + stars: | 2023-02-02 | by ( Krishn Kaushik | ) www.reuters.com time to read: +12 min

"Modern connectivity is also a guarantee of national security," Modi said at an election rally at a border village in October, where he said the new transport links would bring development to remote regions. India's ministries of highways and railway, which own the state-run companies building the road and rail projects, also did not respond. Hundreds of homes have sunk and cracked in an Indian tourist town close to the Himalayan border with China. Eight of the families neighbouring Butola have now left the village, their homes riven with cracks, villagers told Reuters. Officials halted road construction work near the town, fearful of a bigger collapse.

☆ Asia shares brace for rate hikes, earnings rush
▼ + stars: | 2023-01-30 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

Asia has been no slouch either as China's swift reopening bolsters the economic outlook, with MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) up 11% in January at a nine-month high. "We also look for him to continue to push back against market pricing of rate cuts later this year." "Based on our recent Asia supply chain checks we believe iPhone 14 Pro demand is holding up firmer than expected," they added. Market pricing of early Fed easing has been a burden for the dollar, which has lost 1.5% so far this month against a basket of major currencies. read moreEarly Monday, Brent was up 79 cents at $87.45 a barrel, while U.S. crude rose 66 cents to $80.34.

☆ Asian shares cautious, BOJ faces crunch policy decision
▼ + stars: | 2023-01-16 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

Earnings season gathers steam this week with Goldman Sachs, Morgan Stanley and the first big tech name, Netflix, among those reporting. However, it did try to get ahead of speculative sellers by announcing it would do another emergency round today, suggesting it was determined to defend its yield policy at least for now. THE YEN UN-ANCHOREDThe BOJ's uber-easy policy has acted as a sort of anchor for yields globally, while dragging down on the yen. Were it to abandon the policy, it would put upward pressure on yields across developed markets and likely see the yen surge. "A soft-landing also reduces the tail risk of much higher U.S. rates, and this reduced risk premia helps global risk appetite."

☆ How 2022 shocked, rocked and rolled global markets
▼ + stars: | 2022-12-30 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

The main drivers have been the war in Ukraine, combined with rampant inflation as global economies broke out of the pandemic, but China remained shackled by it. U.S. Treasuries and German bonds, the benchmarks of global borrowing markets and traditional go-to assets in troubled times, lost 17% and 25% respectively in dollar terms. Ten-year Treasury yields jumped to 1.8% from less than 1.5%, knocking 5% off MSCI's world stocks index (.MIWD00000PUS) in January alone. The Fed has delivered an eye-watering 400bps of rate hikes and the European Central Bank, a record 250bps, despite saying this time last year it was unlikely to budge. "What has gone in global markets this year has been traumatic," said EFG Bank Chief Economist and ex-Deputy Governor of Ireland's central bank, Stefan Gerlach.

☆ Wall St posts fourth straight drop, Treasury yields rise as recession fears weigh
▼ + stars: | 2022-12-19 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. "(Investors are) worried about recession and higher rates and there’s not a lot of news to reverse the trend." Emerging market stocks rose 0.02%. U.S. Treasury yields rose as investors considered how high the Federal Reserve will hike interest rates in its protracted battle against inflation. Gold inched lower in thin trading, as rising yields on expected future interest rate hikes helped offset weakness in the greenback.

☆ Wall Street slides, Treasury yields rise on lingering recession fears
▼ + stars: | 2022-12-19 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/2] A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 14, 2022. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 0.24% lower, while Japan's Nikkei (.N225) lost 1.05%. U.S. Treasury yields rose as investors considered how high the Federal Reserve will hike interest rates and how long they will remain at restrictive levels in its battle against inflation. U.S. crude rose 1.21% to settle at $75.19 per barrel, while Brent settled at $79.80, up 0.96% on the day. Gold inched lower in thin trading, as rising yields on expected future interest rate hikes helped offset weakness in the greenback.

Since the early days of the invasion, Mr. Putin has conceded, privately, that the war has not gone as planned. “I think he is sincerely willing” to compromise with Russia, Mr. Putin said of Mr. Zelensky in 2019. To join in Mr. Putin’s war, he has recruited prisoners, trashed the Russian military and competed with it for weapons. To join in Mr. Putin’s war, he has recruited prisoners, trashed the Russian military and competed with it for weapons. “I think this war is Putin’s grave.” Yevgeny Nuzhin, 55, a Russian prisoner of war held by Ukraine, in October.

Among the nine housing markets surveyed, prices in six were expected to drop next year. Cost of living increases will also reduce demand as some consumers delay home purchases," noted analysts at Fitch Ratings, adding there was "significant uncertainty" around how much house prices would fall. An overwhelming majority of analysts polled by Reuters in the past weeks said house prices need to fall more than they currently expected in order to make them affordable. Already falling sharply, Australia and New Zealand housing prices were likely to fall further next year, by around 16%-18% from their peaks. The last time house prices fell sharply was during the global financial crisis almost 15 years ago, but with most major economies forecast to enter only a shallow recession, a similar crash was unlikely.

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