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...ETFs - ones that are actively managed. Firms ranging from Invesco to Pimco have launched about 12 of these funds over the past two years; others, such as T. Rowe Price Group and John Hancock Funds, are preparing to roll out similar funds, all in an effort to go head-on against actively managed mutual funds. "It's clearly a category that's attracting more interest among ETF providers and mutual-fund companies," says Standard & Poor's Tom Graves. "It combines the characteristics of a passive, index-based ETF with that of an actively managed mutual fund." (See pictures...
...also reveals a power shift inside the Administration, a smackdown of Treasury Secretary Timothy Geithner, White House aide Lawrence Summers and other centrists who consider populism a dirty word, and have been accused (often unfairly) of being too close to Wall Street. Former Federal Reserve Chairman Paul Volcker, the head of Obama's Economic Recovery Advisory Board, has spent the past year getting frozen out of the White House while blasting Wall Street as a glorified casino; yesterday, he stood next to Obama as the President described the proposed ban on proprietary trading by commercial banks as "the Volcker rule...
...says Paolo Gentiloni, a former Communications Minister who is now the opposition's point man on media policy. "We suspect that this maneuver is aimed at slowing the growth of the web's video offerings by a government that has a personal interest in supporting private TV." Dario Denni, head of the Italian Association of Internet Providers, used this analogy to describe the new rule: "It's like assigning responsibility for what drivers do on the road to the highway-maintenance company." (See TIME's tech buyer's guide...
Indeed, while Himalayan ice will almost certainly still be here in 2035, it is definitely melting - and that will have a serious impact on the billions of people in Asia who depend at least partially on Himalayan meltwater. Yao Tandong, head of China's Institute of Tibetan Plateau Research, has done on-the-ground research on the Chinese side of the Himalayas - the world's biggest collection of ice outside the two poles - and reported last year that by the end of the century, as much as 70% of the mountain range's glaciers could disappear. And far from providing...
...diners at this Jan. 7 meal were a group of around 14 Adams residents, including students who did not head home for the January term and were only able to enjoy a home-cooked meal thanks to Sifuentes. For the three-course meal, he charged students $5—less than the cost of a burrito in the Square...