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Investment Bank Jeffries is facing tough questions after the collapse of Autopart's giant first brands.

Jefferies has said that they didn't know of any fraud and they have indicated

that they felt like they were misled by the company. But the question is really more a matter of

business judgment. Plus, President Trump says he and Putin will meet in Budapest to discuss an

end to the war in Ukraine. And college endowments achieved their strongest returns in years.

It's Thursday, October 16th.

I'm Sabrina Siddiqui for the Wall Street Journal, filling in for Alex Oslo.

This is the PM edition of What's News, the top headlines and business stories that move the world today.

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

Trump said today on his social media platform, Truth Social, that he had a, quote,

very productive call with Putin.

He says the two agreed to set up a meeting next week for high-level advisors

from the U.S. and Russia, including Secretary of State Marco Rubio. Trump's meeting with Putin

is expected to follow, but there is no announced date for it. 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.

Trump's declaring the phone call, quote, productive could weaken the prospect of the U.S.

...