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Exchange-Traded Funds

'Massive passive' funds squeeze stock pickers

A $4.5 billion buyout of Legg Mason Inc by rival Franklin Resources Inc announced on Tuesday is the latest example of how a decade-long shift into low-cost, index-tracking products is pushing stock-picking funds to join forces to remain competitive.

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Take Five: What's the virus damage?

Financial markets have gone swiftly from nonchalance to awe in reacting to the fast-spreading 2019-nCoV or new coronavirus https://graphics.reuters.com/CHINA-HEALTH-MAP/0100B59S39E/index.html.

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Money News

RBC to launch U.S. consumer bank betting on wealthy clients

Royal Bank of Canada plans to open a consumer bank in the United States early next year targeting wealthy clients, with the aim of expanding deposits, its chief financial officer told Reuters on Friday after the bank posted first-quarter profit that beat expectations.