BlackRock Joins Goldman in Cloning JPMorgan’s Blockbuster ETF
(Bloomberg) — BlackRock Inc. is the latest exchange-traded fund issuer to take aim at the runaway success of JPMorgan Chase & Co.’s biggest active strategy.
Bloomberg Business
Stellantis Names New Chief for Its Struggling Jeep Brand
Stellantis NV appointed a new chief for its key Jeep brand, which has been suffering from a slump in US sales and growing inventory levels.
J&J Sees Talc-Suit Surge After $9 Billion Settlement Tossed
Johnson & Johnson has seen at least a 28% surge in new lawsuits claiming its talc-based Baby Powder causes cancer a little more than five weeks after the company’s plan to resolve the cases was tossed from bankruptcy court.
£3 Trillion And Out: UK’s Debt Chief Stheeman to Retire in 2024
Robert Stheeman, the head of the UK Debt Management Office, will retire next year after helping the country raise over £3 trillion ($3.7 trillion) via bond markets over the past two decades.
Honda Takes Another Crack at US EV Market With Help From GM
Honda Motor Co. is trying to crack into the US market for electric vehicles with a new model and an old strategy: If you can’t beat ’em, join ’em.
Mortgage Rates in US Rise to Highest in More Than Two Decades
Mortgage rates in the US climbed to the highest since 2000, ramping up the pressure on potential buyers.
Northvolt Gets Billions From Canada to Build Quebec EV Battery Plant
Sweden’s Northvolt AB said clean power and access to critical raw materials alongside generous subsidies swayed its decision to pick a site close to Montreal for its first electric vehicle battery plant in North America.
Brazil Central Bank Sees Faster Growth This Year Before Downturn
Brazil’s central bank raised its 2023 economic growth forecast while warning of a looming drop-off in activity next year as monetary policy remains tight.
Icahn Sells Remaining Xerox Stake Back to Company
Activist investor Carl Icahn is ending a years-long investment in Xerox Holdings Corp. by selling his remaining stake back to the company for $542 million.
Private Credit, Bank Rivalry Spurs ‘Race to the Bottom,’ Moody’s Says
The competition between banks and direct lenders in the leveraged buyout arena will likely result in more defaults as riskier debt deals get done, according to Moody’s Investors Service.
