Jefferies Faces Questions After First Brands’ Collapse

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• 00:03

  Investment Bank Jefferies is facing tough questions after the collapse of Auto Parts' giant first brands.

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  Jefferies has said that they didn't know of any fraud,

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  and they have indicated that they felt like they were misled by the company.

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  But the question is really more a matter of business judgment.

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  Plus,

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  President Trump says he and Putin will meet in Budapest to discuss an end to the war in Ukraine.

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  And college endowments achieved their strongest returns in years.

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  It's Thursday, October 16th.

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  I'm Sabrina Siddiqui for The Wall Street Journal, filling in for Alex Osila.

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  This is the PM edition of What's News,

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  the top headlines and business stories that move the world today.

• 00:46

  President Trump says he's going to meet with Russian President Vladimir Putin in Budapest for talks on ending the war in Ukraine.

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  Trump said today on his social media platform, Truth Social,

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  that he had a, quote, very productive call with Putin.

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  He says the two agreed to set up a meeting next week for high-level advisers from the US and Russia,

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  including Secretary of State Marco Rubio.

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  Trump's meeting with Putin is expected to follow, but there is no announced date for it.

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  The conversation between the two leaders comes just a day before Trump is expected to meet with Ukrainian President Volodymyr Zelensky at the White House.

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  Trump's declaring the phone call quote productive could weaken the prospect of the US providing Ukraine with powerful Tomahawk missiles that can travel more than a thousand miles.

• 01:30

  Trump in recent days had signaled that he was leaning towards sending the powerful weapons to Ukraine.

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