Vanguard Unveils Sweeping New Fund Fee Reductions
PROVIDENCE, Rhode Island – Vanguard, the world’s second-largest asset manager and a pioneer of low-cost funds, said on Monday it is cutting fees on 53 of its index-based mutual funds and exchange-traded funds, marking its second sweeping fee reduction in…
US FDA launches program to boost domestic drug manufacturing
WASHINGTON – The U.S. Food and Drug Administration on Sunday began accepting requests to participate in its PreCheck pilot program, designed to boost domestic drug supply by speeding up construction and review of drug manufacturing plants in the country. The…
Nvidia CEO Dismisses Tension With OpenAI, Plans ‘Huge’ Investment
TAIPEI – Nvidia plans to make a “huge” investment into OpenAI, probably its largest ever, CEO Jensen Huang said on Saturday, denying he was unhappy with the ChatGPT maker. The chipmaker in September announced plans to invest up to $100…
Brazil 2025 eggs exports soar on strong US demand
SAO PAULO – Brazilian egg exports, including fresh and processed, hit a record 40,894 metric tons in 2025 on strong U.S. demand, according to data compiled by the Brazilian Association of Animal Protein (ABPA) on Thursday. The figure represents a…
Exclusive-Brookfield nears $9 billion-plus deal for Colonial Pipeline, sources say
Brookfield Asset Management is putting the final touches on a deal to acquire Colonial Pipeline, the largest U.S. fuel transportation system, for more than $9 billion including debt, people familiar with the matter said on Monday. The New York-based asset…
China’s CNOOC discovers 100 million-ton oilfield in South China Sea, Xinhua says
BEIJING – The China National Offshore Oil Corporation (CNOOC) has discovered an oilfield in the South China Sea with proven reserves exceeding 100 million tonnes, Xinhua news agency reported on Monday. The newly found Huizhou 19-6 oilfield is not in…
Trump says reciprocal tariffs will target all countries
ABOARD AIR FORCE ONE -U.S. President Donald Trump said on Sunday that reciprocal tariffs he is set to announce this week will include all nations, not just a smaller group of 10 to 15 countries with the biggest trade imbalances….
Japan finance minister says he will closely communicate with US on forex
TOKYO – Japan Finance Minister Katsunobu Kato said on Monday that he would communicate closely with U.S. Treasury Secretary Scott Bessent on foreign exchange, pointing out that close dialogue is important for market stability. Kato made the comment to parliament…
Australia forecasts hit to resource, energy export earnings from lower US dollar
SYDNEY – Australia’s mining and energy export earnings are expected to fall 6% in the financial year through June, with prices of its key iron ore shipments declining, the government said on Monday. Profits are forecast fall to A$387 billion…
Virgin Australia executives set to meet investors for relisting on ASX, AFR reports
Bain Capital-owned Virgin Australia is set to return to the Australian stock exchange after delisting in 2020, the Australian Financial Review (AFR) reported late on Sunday. Australia’s second-largest airline’s executives are set to meet prospective investors on Tuesday to pitch…
Markets brace for cut to BOJ’s super-long bond buying
TOKYO -The Bank of Japan could take another key step toward diminishing its huge presence in the bond market next week, when it releases its bond-buying plan for the second quarter that may include a cut in the size of…
Trump says TikTok sale deal to come before Saturday deadline
ABOARD AIR FORCE ONE – President Donald Trump said a deal with TikTok’s Chinese parent ByteDance to sell the short video app used by 170 million Americans would be struck before a deadline on Saturday. Trump set the April 5…
Exclusive-India weighs scrapping import tax on US LNG, boost purchases, sources say
NEW DELHI -India is considering a proposal to scrap import tax on U.S. liquefied natural gas (LNG) to boost purchases and help cut the trade surplus with Washington, a key irritant for President Donald Trump, four government and industry sources…
Sanctioned Russian tanker firm Sovcomflot’s transportation volumes fell 16% in 2024
Russia’s leading tanker group Sovcomflot’s saw transportation volumes drop around 16% to 63 million metric tons last year compared to 2023, Russian news agency Interfax reported on Friday, citing the group’s CEO Igor Tonkovidov as saying. The United States and…
Ubisoft shares drop, erase early gains on talk hedge funds shorting stock
Ubisoft shares reversed gains in afternoon trade on Friday after rising as much as 12% earlier on plans to set up a subsidiary to house three of its popular video game franchises. The stock was down around 1% at 1451…
Chile’s Codelco sending more copper to US after tariff threat
SANTIAGO -Chile’s Codelco, the world’s largest copper producer, has been redirecting some of its spot sales to the United States, CEO Ruben Alvarado said on Friday. U.S. President Donald Trump in February ordered a probe into potential new tariffs on…
Carmakers weigh risk of price hikes as Trump tariffs loom, sources say
BERLIN – European carmakers are trying to work out how much their prices might have to rise in response to looming U.S. import tariffs, industry sources said, fearing any first-movers could risk a backlash from U.S. President Donald Trump. The…
US drillers cut oil and gas rigs for first time in three weeks, Baker Hughes says
U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig…
Kushner’s Affinity’s assets jump to $4.8 billion after Gulf cash injection
LONDON -Jared Kushner’s investment company Affinity Partners saw assets under management jump 60% last year to $4.8 billion, according to a regulatory filing, after it received a cash injection from Middle East investors including Qatar’s sovereign wealth fund. Kushner, son-in-law…
German finance minister warns of tariff hit to U.S. and German economies
BERLIN – Germany’s Finance Minister Joerg Kukies warned on Friday that U.S. tariffs would hit both the German and the U.S. economies and that Berlin was working to prevent an escalating trade war. Kukies made the statement to Reuters after…