Author: Editor

Exchange-traded funds have amassed trillions of dollars by offering investors greater tax efficiency, liquidity and lower costs than mutual funds. Now, a looming regulatory shift is poised to bring the two vehicles closer together — and threatens to complicate the very features that fueled the ETF boom.The Securities and Exchange Commission is expected to approve applications for dual-share-class structures, perhaps as soon as this summer, allowing managers to add an ETF sleeve to an existing mutual fund. More than 50 firms, including BlackRock Inc. and State Street Corp., are waiting for the regulator’s greenlight to deploy the hybrid structure —…

President Donald Trump is granting pardons to reality television stars Todd and Julie Chrisley, who were convicted of fraud and tax evasion, the latest offer of clemency to prominent figures accused of white-collar crimes.Trump communications aide Margo Martin posted a video to X showing the president on a call with the Chrisleys’ daughter, Savannah Chrisley, announcing his decision.”Your parents are going to be free and clean, and I hope we can do it by tomorrow,” Trump said. “I don’t know them but give them my regards and I wish them a good life.””I hear they’re terrific people, this should not…

Elon Musk expressed dissatisfaction with President Donald Trump’s giant tax bill, saying it undercut his efforts to slash government spending. Musk, who has announced he’s stepping back from his Department of Government Efficiency — a body that quickly became an exponent of the second Trump administration’s vision — told CBS News in an interview that he was “disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing.” The legislation, which Trump calls his “big, beautiful bill” and includes an array of tax cuts, will go…

Shares of Abercrombie & Fitch soared on Wednesday, even after the retailer slashed its profit outlook due to tariffs, which are expected to hit its business by $50 million. The company is now expecting full year earnings per share to be between $9.50 and $10.50, down from a previous range of between $10.40 and $11.40. Analysts were expecting earnings of $10.33 a share, according to LSEG. Abercrombie also cut its operating margin forecast, another closely watched metric by investors. It’s now expecting its operating margin to be between 12.5% and 13.5%, down from a previous range of between 14% to 15%. The company’s…