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☆ US gas prices have tumbled for 2 months to notch their longest streak of declines in over a year
▼ + stars: | 2023-11-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

US gas prices have dropped for 60 consecutive days, per Bloomberg. It's the longest streak of declines in more than a year, according to the report. A gallon of gas on average in the US costs $3.25, about 30 cents cheaper than this time last year. AdvertisementUS gas prices have dropped for 60 consecutive days, notching their longest streak of declines in more than a year. Meanwhile, the Federal Reserve's aggressive interest-rate hiking since March 2022 has weighed on economic growth and consumer spending, which analysts point to as one reason contributing to softer oil and gas prices.

Persons: —, Brent Organizations: Bloomberg, Service, Biden Administration, Saudi, West Texas

☆ Stock Market Today: Dow Futures Hover to Start the Week
▼ + stars: | 2023-11-27 | by ( ) www.wsj.com time to read: +1 min

As the market gets back into gear after the Thanksgiving holiday and a shortened Black Friday session, though, futures are subdued. Contracts linked to the S&P 500, Nasdaq-100 and the Dow industrials slipped about 0.1%. Most actively traded Brent futures declined about 1.6% to trade at close to $79 a barrel. That put Brent on pace for a fourth losing session, amid continued wariness about the coming OPEC cartel meeting. Asian stocks slipped, with indexes in Hong Kong, Shanghai and Tokyo closing down.

Persons: Dow industrials, Brent Organizations: Nasdaq Locations: Hong Kong, Shanghai, Tokyo, Europe

☆ Stock Market Today: Dow Slips to Start the Week; Shopify Stock Gains
▼ + stars: | 2023-11-27 | by ( ) www.wsj.com time to read: +1 min

The S&P 500 is up more than 8% this month and the three major U.S. stock indexes are on track for their strongest monthly performances in more than a year . The market is getting back into gear after the Thanksgiving holiday and a shortened Black Friday session . The S&P 500, Dow industrials and tech-focused Nasdaq Composite were all making small moves. Amazon rose more than 1%, with the stock on pace for its highest close of the year. The benchmark 10-year yield dipped slightly after ending last week at 4.483%.

Persons: Dow, Brent Organizations: Investors, Treasury

☆ Stock Market News: Black Friday Gets Under Way
▼ + stars: | 2023-11-24 | by ( ) www.wsj.com time to read: +1 min

Will investors spot any stock-market bargains, and what will they learn about the resilience of the U.S. consumer? Meantime, index futures are muted in early trading, ahead of a holiday-shortened session. And oil prices have stabilized after recent weakness, driven in part by tensions within the OPEC+ cartel. U.S. markets will close early. In Asia, Hong Kong’s Hang Seng Index fell 2% and the Shanghai Composite lost 0.7% after rallying the day before.

Persons: It's, Dow industrials Organizations: Investors, Stock, Nasdaq, Dow, The New York Stock Exchange, Brent, Shanghai Locations: OPEC, U.S, Asia, Hong, Europe

☆ Garland calls for ‘swift extradition’ of top cartel criminal after arrest in Mexico
▼ + stars: | 2023-11-24 | by ( Zoe Sottile | ) edition.cnn.com time to read: +3 min

CNN —US Attorney General Merrick Garland has called for the “swift extradition” of Néstor Isidro Pérez Salas, described by the Justice Department as a lead assassin for the Sinaloa Cartel, after his arrest in Mexico. Pérez Salas is “one of the Sinaloa Cartel’s lead sicarios, or assassins,” according to a news release from the Department of Justice. Known as “Nini,” Pérez Salas was captured by the Mexican National Guard on Wednesday in Culiacán, Sinaloa, according to Mexican officials. President Joe Biden praised Mexican security forces for Pérez Salas’ arrest on Wednesday. “On November 22, Mexican security forces captured Néstor Isidro Pérez Salas (‘El Nini’), the notorious head of security for the Chapitos wing of the Sinaloa Cartel.

Persons: General Merrick Garland, Néstor Isidro Pérez Salas, Pérez Salas, ” Pérez Salas, Oscar Noé Medina González, Iván Archivaldo Guzmán Salazar, Joaquín, Guzmán, Joe Biden, Pérez Salas ’, “, ‘, El Nini, Biden, Andres Manuel López Obrador, López Obrador, ” Organizations: CNN, Justice Department, Department of Justice, Mexican National Guard, US State Department, State Department, The State Department, Chapitos, United, US, Mexican Army Locations: Sinaloa, Mexico, Culiacán, United States, Mexican, China, El

Oil prices fell about $1 a barrel after OPEC postponed until next week a meeting to discuss production cuts. The oil cartel has been maintaining a tight market for crude oil with production cuts. It is expected to extend those cuts after oil prices have fallen after a spike in the summer to almost $100 a barrel. Markets in Greater China have been swaying in reaction to moves by Chinese regulators to prop up the ailing property market. A 0.9% drop in oil prices weighed on energy companies.

Persons: Seng, Nordstrom, Swissquote, they’ll, Brent Organizations: Garden, Dow, Nasdaq, . Technology, Microsoft, Google, Broadcom, VMWare, Energy, Exxon Mobil, Halliburton, Nvidia, Department, University of Michigan, Federal, ” Fed, New York Mercantile Exchange, U.S Locations: BANGKOK, Asia, Japan, U.S, Shanghai, Greater China, South Korea, Taiwan, Mumbai, China, Turkey

☆ Stock Market Today: Index Futures Edge Higher
▼ + stars: | 2023-11-22 | by ( ) www.wsj.com time to read: +1 min

OpenAI said Sam Altman will return as chief executive of the artificial-intelligence startup, ending a standoff that began when the board fired him last week. Nvidia shares edged down premarket, even after the company reported blockbuster sales of chips used in AI. Broad markets are poised for a quiet pre-Thanksgiving session, with stock-index futures nudging higher. Index futures were muted. Ten-year yields slipped, after settling Tuesday at 4.417%.

Persons: OpenAI, Sam Altman, Dow Organizations: Nvidia, Dow industrials, Nasdaq, Treasury, Traders, Nikkei Locations: Europe, Shanghai

☆ Stock Market Today: Dow, S&P 500 Open Higher; Nvidia Stock in Focus
▼ + stars: | 2023-11-22 | by ( ) www.wsj.com time to read: +1 min

Major stock indexes ticked higher ahead of the Thanksgiving holiday , while oil prices fell . Nvidia shares slipped a day after it reported blockbuster sales of chips used in AI. Bitcoin prices edged lower after the founder of Binance, the world’s largest crypto exchange, pleaded guilty to violating criminal U.S. anti-money-laundering requirements. Ten-year yields edged higher, after settling Tuesday at 4.417%. Bitcoin prices edged lower.

Persons: OpenAI, Sam Altman, Dow Organizations: Nvidia, Binance, Dow industrials, Nasdaq, Autodesk, Deere, Treasury, Energy, Nikkei Locations: Europe, Shanghai

☆ Stock Market News Today: Dow, Nasdaq Edge Higher; Nvidia Stock in Focus
▼ + stars: | 2023-11-22 | by ( ) www.wsj.com time to read: +1 min

Major stock indexes continued their November march higher ahead of the Thanksgiving holiday , while oil prices fell . Nvidia shares slipped a day after it reported blockbuster sales of chips used in AI. Bitcoin prices edged higher. Ten-year yields edged higher after settling Tuesday at 4.417%. Bitcoin prices edged higher.

Persons: OpenAI, Sam Altman, Dow Organizations: Nvidia, Binance, Dow industrials, Nasdaq, Autodesk, Deere, Airlines, Treasury, Energy, Benchmark, Overseas, Nikkei Locations: Europe, Shanghai

☆ U.S. Gas Prices Plunging as Holiday Travelers Hit the Road
▼ + stars: | 2023-11-22 | by ( Clifford Krauss | More About Clifford Krauss | ) www.nytimes.com time to read: +1 min

U.S. gasoline prices are plunging just in time for Thanksgiving, and with the OPEC Plus oil cartel in apparent disarray, they could be heading lower for Christmas. But this week, they fell to levels not seen at this time of year since 2021, according to the AAA motor club, before the Russian invasion of Ukraine sent energy prices higher. “For consumers it’s a terrific tailwind,” said Tom Kloza, global head of energy analysis at Oil Price Information Service. The price for a gallon of gas was $3.64 at the same time last year. Prices have dropped below $3 a gallon in more than a dozen states and are falling with particular speed in Montana, Florida and Colorado.

Persons: ”, Tom Kloza Organizations: OPEC, AAA, Oil Price Information Service Locations: Ukraine, Montana , Florida, Colorado

☆ Mexico captures 'El Nini,' Sinaloa Cartel's alleged security boss
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

MEXICO CITY, Nov 22 (Reuters) - The Mexican National Guard on Wednesday captured Nestor Isidro Perez Salas, or "El Nini," who is accused of heading security for the faction of the Sinaloa Cartel headed by the sons of founder Joaquin "El Chapo" Guzman. Seen by U.S. anti-narcotics agents as one of the most ruthless Mexican drug figures, Perez Salas was detained in Culiacan, the Sinaloa Cartel's heartlands, and was taken to Mexico City, according to government detention records. "We're working side-by-side to combat arms trafficking, to tackle organized crime and to address the opioid epidemic, including fentanyl," Biden said. The U.S. and Mexico also agreed with China last week to stem the flow of fentanyl precursor chemicals from the Asian country. In January, Mexican authorities captured Ovidio Guzman in Sinaloa and extradited him to the United States in September.

Persons: Nestor Isidro Perez Salas, Joaquin, El, Guzman, Perez Salas, Ivan Archivaldo Guzman, Joe Biden, Andres Manuel Lopez Obrador, Biden, Ovidio Guzman, Ivan, Manuel Carrillo, Kylie Madry, Sarah Morland, Brendan O'Boyle Organizations: MEXICO CITY, Mexican National Guard, heartlands, U.S . State Department, The State Department, U.S . Drug, Administration, Thomson Locations: MEXICO, Sinaloa, Culiacan, Mexico City, U.S, Mexico, China, United States, Lincoln

☆ Stock Market Today: All Eyes on Nvidia's Coming Results
▼ + stars: | 2023-11-21 | by ( ) www.wsj.com time to read: +1 min

Earnings are due later from Nvidia, the chip maker that is riding the AI wave . Meanwhile investors are watching the drama unfolding at OpenAI , where hundreds of staff are threatening to quit—and contemplating the implications for Microsoft and others. “AI exuberance has been a dominant theme this year,” said Laura Cooper, a macro strategist at BlackRock. Some of this enthusiasm waned as borrowing costs surged earlier in the fall, she said. International benchmarks were subdued, with indexes in Hong Kong, Shanghai and Tokyo closing flat to slightly lower.

Persons: —, ”, Laura Cooper, Dow industrials, BlackRock’s Cooper, Brent Organizations: Nvidia, Microsoft, BlackRock, ”, Nasdaq, Dow Locations: OpenAI, Treasurys, Hong Kong, Shanghai, Tokyo

☆ Morning Bid: Thanksgiving starters of AI and oil
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsA look at the day ahead in U.S. and global markets from Mike Dolan. Thanksgiving may make for a clipped U.S. markets week, but there's plenty to chew on around the world before then - and a feast of intrigue in the artificial intelligence space. His plans include shutting the central bank, ditching the peso and dollarizing the economy and slashing spending with potentially painful reforms. The risk premium between German and Italian 10-year yields tightened to 170 bps - the lowest since Sept. 21.

Persons: Brendan McDermid, Mike Dolan, Sam Altman, That's, thrall, Javier Milei, Milei, Jeremy Hunt, Andrew Bailey ,, Francois Villeroy de, Pablo Hernandez de Cos, Ed Osmond Organizations: New York Stock Exchange, REUTERS, Microsoft, Big Tech, Nvidia, Treasury, Federal Reserve, Bank, Bayer, Federal Reserve Bank of England, Andrew Bailey , Bank of France, Bank of Spain, Technologies, Keysight Technologies, Holdings Reuters Graphics Reuters, Reuters, Thomson Locations: New York City, U.S, OPEC, Tokyo, Europe, Canada, Francois Villeroy de Galhau

SAN FRANCISCO (AP) — President Joe Biden and Mexican President Andrés Manuel López Obrador, two strong allies who don't always get along personally, will talk migration, fentanyl trafficking and Cuba relations on Friday. He skipped a Los Angeles summit last year where leaders tackled the issue of migration because the U.S. didn't invite Cuba, Nicaragua or Venezuela. Biden, meanwhile, was expected to bring up migration as the U.S. continues to manage a growing number of southern border crossings. The leaders also are expected to discuss deadly fentanyl trafficking, particularly after Biden secured an agreement with Xi to curb the illicit opioid. More than 100,000 deaths a year have been linked to drug overdoses since 2020 and about two-thirds of those are related to fentanyl.

Persons: Joe Biden, Andrés Manuel López Obrador, Biden, Xi Jinping, López Obrador, Xi, Christopher Sherman Organizations: FRANCISCO, Economic Cooperation, APEC, U.S, Democratic, Press Locations: Cuba, San Francisco, Asia, Japan, South Korea, China, Mexico, Angeles, Nicaragua, Venezuela, U.S, Ukraine, Israel, Haiti, Honduras, Guatemala, El Salvador, Colombia, Mexico City

☆ China is helping the US deal with its massive fentanyl problem — sort of
▼ + stars: | 2023-11-17 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

The US says China is a main source of materials for fentanyl that later ends up in America. The deal, which both leaders settled at the Asian-Pacific Economic Committee summit in San Francisco, would see Beijing assist Washington by regulating fentanyl precursors in China. The Drug Enforcement Administration has warned in recent years that China is a primary source for key ingredients in fentanyl. Advertisement"Focusing on China as the source of the problem has been because it's such an easy country to criticize," Ross said. For the Biden administration, the fentanyl deal has been an issue repeatedly pushed by US officials, Liu said.

Persons: —, Joe Biden, Xi Jinping, Zha Daojiong, Biden, Xi, Liu Zongyuan, Maurice R, Greenberg, Liu, Robert Ross, Ross, Eric Richardson, that's Organizations: Service, Pacific, Drug, Administration, Business, Peking University, pharma, of Foreign Relations, DEA, Boston College, UC Berkeley, INHR, United Nations, US, Bloomberg, Reuters, Forensic Public Security Institute Locations: China, America, San Francisco, Beijing, Washington, India, it's, Mexico, United, Europe, Xinjiang

☆ Tenants and a top prosecutor have accused major landlords and a popular apartment-pricing site of colluding to inflate rents. A legal expert says it shows algorithmic collusion is no longer 'science f
▼ + stars: | 2023-11-15 | by ( Eliza Relman | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementYou're probably aware that a severe housing shortage has driven rents and home prices through the roof in recent years. Now, several lawsuits filed across the country contend that the algorithmic software some big landlords use to determine rents has artificially inflated prices. This allegation is unusual, given that RealPage doesn't have any market power over its clients, Stucke said. AdvertisementProsecutors also allege that RealPage monitors the rents that its clients charge and disciplines landlords who don't adhere to its recommendations.

Persons: —, Brian Schwalb, RealPage, They're, Maurice Stucke, RealPage didn't, Axios, Department —, Donald Trump —, Steve Winn, ProPublica, Stucke Organizations: Service, University of Tennessee, DOJ, The, Department, Prosecutors, Department of Justice, Democratic, Federal Trade Commission, Computer Locations: Washington, DC, RealPage, Texas, Seattle , New York, Boston, Colorado, Nashville

☆ OPEC Raises Oil-Demand Forecast, Says Weak Sentiment Is Exaggerated
▼ + stars: | 2023-11-13 | by ( Yusuf Khan | ) www.wsj.com time to read: 1 min

Photo: Andrey Rudakov/Bloomberg NewsThe Organization of the Petroleum Exporting Countries raised its expectations for global oil demand this year, saying that weak sentiment is exaggerated and that the economy is more resilient than originally appeared, as the group’s own output crept higher. The Vienna-based oil producers’ cartel said in its monthly oil-market report that it sees oil demand rising by 2.5 million barrels a day this year, up by 100,000 barrels a day from last month’s report.

Persons: Andrey Rudakov Organizations: Bloomberg, Organization of, Petroleum Locations: Vienna

"If we were to get a low CPI next week, yields can come down around that number and we may get some weakening in the dollar," Wizman said. The two-year Treasury yield, which reflects interest rate expectations, fell 0.2 basis points to 5.020%, while the benchmark 10-year yield was down 3.2 basis points at 4.598%. Traders would be keeping a close watch on interest rate volatility, said Schneller, noting major market fluctuations recently. "A primary cause for this volatility is the debate over whether the current Fed funds rate is overly high or insufficient." In currency markets, the dollar index rose 0.019% to 105.91, with the euro up 0.04% to $1.067.

Persons: Kim Kyung, Powell, Jerome Powell, Thierry Wizman, Wizman, Powell's, Bruno Schneller, Schneller, Tapas Strickland, Brent, Nell Mackenzie, Dhara Ranasignhe, Tomasz Janowski, Richard Chang Organizations: Tokyo Stock Exchange, REUTERS, Global, International Monetary Fund, Fed, FX, Dow Jones, Nasdaq, Treasury, INVICO Asset Management, Reuters Graphics U.S, NAB, New, Thomson Locations: Tokyo, Japan, Macquarie, New York, China, Beijing, New Zealand, London

☆ Germany approves stakes by Bosch, Infineon and NXP in TSMC chip plant
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: +1 min

Taiwan Semiconductor Manufacturing Company's (TSMC) logo is seen while people attend the opening of the TSMC global R&D center in Hsinchu, Taiwan July 28, 2023. REUTERS/Ann Wang/File Photo Acquire Licensing RightsNov 7 (Reuters) - The German cartel office has approved stakes by Bosch (ROBG.UL), Infineon (IFXGn.DE) and NXP (NXP.N) in TSMC's (2330.TW) new semiconductor plant in the German city of Dresden, the regulator said in a statement on Tuesday. The companies would each acquire 10% of shares in the European Semiconductor Manufacturing Company (ESMC), founded by TSMC, it said. "The recent geopolitical upheavals have shown how important secured access to semiconductors is, especially for the German industry," Andreas Mundt, president of the cartel office, said in a statement. He added that both the European Union and Germany were committed to locating more semiconductor production in Europe and Germany.

Persons: Ann Wang, Andreas Mundt, Linda Pasquini, Rachel More, Matthias Williams Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Bosch, Infineon, European Semiconductor Manufacturing Company, TSMC, European Union, Thomson Locations: Hsinchu, Taiwan, TSMC's, German, Dresden, Germany, Europe, China

WASHINGTON (AP) — The Biden administration on Tuesday imposed sanctions on 13 members of Mexico’s powerful Sinaloa cartel and four Sonora, Mexico-based firms accused of trafficking fentanyl and other drugs into the United States. The latest action follows a series of measures taken this year against members of the Sinaloa cartel, cash couriers and cartel fraud schemes. Included in the sanctions are a manager of cartel operations in Nogales who oversaw the trafficking of multi-ton quantities of drugs, authorities said, as well as members of his family and his associates. More than 100,000 deaths a year have been linked to drug overdoses since 2020, and about two-thirds of those are related to fentanyl. Mexico and China are the primary sources for fentanyl and fentanyl-related substances trafficked directly into the U.S., according to the Drug Enforcement Administration, which is tasked with combating illicit drug trafficking.

Persons: —, Biden, Brian Nelson, “, ” Nelson, Joe Biden's, isn’t Organizations: WASHINGTON, Treasury, Disease Control, Drug Enforcement Administration, Democratic Locations: Sinaloa, Sonora, Mexico, United States, Nogales, U.S, China

☆ Gay Games: Sporting and cultural LGBTQ event faces a conservative backlash in Hong Kong
▼ + stars: | 2023-11-06 | by ( Manav Tanneeru | Chris Lau | ) edition.cnn.com time to read: +8 min

I have no idea how it managed to reach Hong Kong,” he said. Gay Games organizers hit back at the opposition from Hong Kong lawmakers and have vowed the event will be a proud, non-political, celebration of inclusivity. A spokesman did not answer the first part and replied on the latter: “Any activity that takes place in Hong Kong must not contravene any laws of Hong Kong. One of Hong Kong leader John Lee’s top advisers and also a lawmaker, Ip has been one of the few Hong Kong politicians vocally supportive of the games. Meanwhile Chan Kwan-on, one of the Gay Games ambassadors in Hong Kong, urged critics not to jump to conclusions and come see for themselves.

Persons: Hong Kong CNN —, –, ”, Junius Ho, Peter Shiu, Lisa Lam, Alan Lang, Hong, Tyrone Siu, Xi Jinping, Hong Kong, ” Wayne Morgan, ‘, Lang, Regina Ip, John Lee’s, Ip, Chan Kwan, “ Organizations: Hong Kong CNN, Gay Games, Wednesday, firebrand, Beijing, CNN, Reuters, Gay, Valencia, Hong, Gay Sports and Movement Association, China’s Communist Party, ’ Gay Locations: Hong Kong, Asia, Mexican, Guadalajara, Beijing, China, Hong, Australian, Taiwan

☆ Major landlords, RealPage sued in DC for alleged rent-fixing scheme
▼ + stars: | 2023-11-01 | by ( Laya Neelakandan | ) www.cnbc.com time to read: +3 min

The alleged collusion violates the District of Columbia's Antitrust Act, the office said. Washington, D.C., Attorney General Brian Schwalb's office said Tuesday that it's suing RealPage, a property management software company, and 14 of the district's largest landlords for allegedly colluding to raise rents. In a statement to CNBC, a company spokesperson for William C. Smith & Co. said the company does not comment on pending litigation. The software uses proprietary, nonpublic data and statistical models to estimate supply and demand and generate a price to maximize the landlord's revenue. RealPage has previously been sued by renters in the Southern District of California and Tennessee over the past year.

Persons: Igor Golovniov, Brian Schwalb's, it's, RealPage, William C, Smith, didn't, Schwalb, Jennifer Bowcock, Berkshire Hathaway Organizations: Inc, Getty, Columbia's, Washington , D.C, CNBC, Southern District of, D.C, National Association of Realtors, CNBC PRO Locations: Washington ,, Southern District, Southern District of California, Tennessee, Seattle , Texas, Boston, Missouri, Berkshire

☆ Energy Agency Sees Peaks in Global Oil, Coal and Gas Demand By 2030
▼ + stars: | 2023-10-24 | by ( Brad Plumer | More About Brad Plumer | ) www.nytimes.com time to read: +1 min

If that all came to pass, oil and gas demand would most likely plateau at slightly above today’s levels for the next three decades, expanding in developing countries and shrinking in advanced economies. “The transition to clean energy is happening worldwide and it’s unstoppable,” said Fatih Birol, executive director of the International Energy Agency. After Mr. Birol first suggested the possibility in September, the oil cartel OPEC warned that such forecasts were highly uncertain and could lead countries and companies to underinvest in oil and gas drilling. If demand for fossil fuels did not fall as expected, the cartel said, the lack of supply could lead to “energy chaos.”OPEC issued its own outlook last year projecting that global demand for oil and natural gas would keep rising until 2045. “I have a gentle suggestion to oil executives, they only talk among themselves,” Mr. Birol said in an interview.

Persons: ”, Fatih Birol, “ It’s, ’ it’s, ’ —, Birol, “, ” Mr, — Organizations: International Energy Agency, OPEC

☆ Home Sellers Take On the Realtors Cartel
▼ + stars: | 2023-10-23 | by ( Allysia Finley | ) www.wsj.com time to read: +1 min

Journal Editorial Report: The week's best and worst from Dan Henninger, Mary O’Grady and Kim Strassel. Images: Reuters/AFP/Getty Images/Bloomberg News Composite: Mark KellyThe 1.5 million-member National Association of Realtors spent $81.7 million on political lobbying in 2022, more than any other business group. Consider Burnett v. NAR, a federal class-action suit that Missouri home sellers have brought against the association. The case, which went to trial last week, presents an existential threat to the cartel. If the plaintiffs prevail, home buyers and sellers could save $120 billion in fees each year.

Persons: Dan Henninger, Mary O’Grady, Kim Strassel, Mark Kelly, Burnett Organizations: AFP, Getty, Bloomberg, National Association of Realtors, NAR Locations: Missouri

☆ Debunking claims that a 'cartel' of asset managers controls major U.S. corporations
▼ + stars: | 2023-10-23 | by ( Ryan Ermey | ) www.cnbc.com time to read: +2 min

If you look up the top institutional investors in these firms, you will find major asset managers close to the top of the list. 2, and State Street is No. State Street, Vanguard and BlackRock are the top shareholders in Lockheed, in that order. Pfizer's top shareholders: Vanguard, BlackRock and State Street. That's because BlackRock makes money by collecting fees from its investors, not by reaping profits from the companies it invests in.

Persons: Lockheed Martin, Daniel Sotiroff Organizations: Apple, Lockheed, Pfizer, Vanguard, BlackRock, Morningstar Research Services, State Locations: BlackRock

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