Town Hall News

By Takahiko Wada and Leika Kihara TOKYO (Reuters) – Core consumer inflation in Japan’s capital, Tokyo, rose 3.2% in May from a year earlier, government data showed on Friday, slowing from the previous month’s increase but remaining well above the central bank’s 2% target. The stubbornly high inflation in Tokyo, which is seen as a leading indicator of nationwide trends, may keep alive market expectations of a gradual withdrawal of […]

By Raphael Satter, Zeba Siddiqui and James Pearson (Reuters) -The U.S. State Department warned on Thursday that China was capable of launching cyber attacks against critical infrastructure, including oil and gas pipelines and rail systems, after researchers discovered a Chinese hacking group had been spying on such networks. A multi-nation alert issued Wednesday revealed the Chinese cyber-espionage campaign had been aimed at military and government targets in the United States. […]

By Blake Brittain (Reuters) – A U.S. appeals court on Thursday vacated a $570 million award Cognizant Technology Solutions Corp had won against rival software provider Atos SE’s Syntel Inc for theft of its trade secrets related to healthcare insurance software. The New York-based 2nd U.S. Circuit Court of Appeals said Cognizant was not entitled to the damages under the federal trade secret law and ordered a Manhattan federal court […]

(Reuters) -The U.S. on Thursday held its first sale of oil and gas drilling rights on federal lands since passage of President Joe Biden’s landmark climate change law, attracting more than $78 million in high bids for leases in New Mexico and Kansas. The federal auction was just the second to be held in New Mexico, the nation’s second-largest oil-producing state, since Biden became president in 2021. Promontory Exploration LP […]

By Katherine Masters and Ananya Mariam Rajesh (Reuters) – Gap Inc on Thursday reported a surprise profit in the first quarter, and its shares jumped 16% in extended trading as the apparel retailer cited restructuring efforts and easing supply chain costs. U.S. companies are starting to see some relief from sky-high costs of freight and manufacturing after years of supply-chain snags. Gap’s quarterly merchandise margin increased by 610 basis points […]

By Akriti Sharma (Reuters) -Elon Musk’s brain-implant company Neuralink on Thursday said it had received the U.S. Food and Drug Administration’s (FDA) approval to launch its first-in-human clinical study. On at least four occasions since 2019, Musk has predicted that his medical device company would soon start human trials of a brain implant to treat intractable conditions such as paralysis and blindness. Yet the company, founded in 2016, did not […]

By Nandita Bose, Jarrett Renshaw and David Morgan WASHINGTON (Reuters) – U.S. President Joe Biden and top congressional Republican Kevin McCarthy on Thursday appeared to be nearing a deal to cut spending and raise the government’s $31.4 trillion debt ceiling, with little time to spare to head off the risk of default. The deal would specify the total amount the government could spend on discretionary programs like housing and education, […]

By Blake Brittain (Reuters) – A U.S. appeals court on Thursday vacated a $570 million award Cognizant Technology Solutions Corp had won against rival software provider Atos SE’s Syntel Inc for theft of its trade secrets related to healthcare insurance software. The New York-based 2nd U.S. Circuit Court of Appeals said Cognizant was not entitled to the damages under the federal trade secret law and ordered a Manhattan federal court […]

MONTREAL (Reuters) -Air Canada said on Thursday that a precautionary ground stop on its flights has been lifted after the country’s largest carrier faced a technical issue. Air Canada said in a statement it experienced a temporary issue with its communicator system, which is used to communicate with aircraft and monitor operational performance. The problem led to some delays, although the “system is now returning to normal,” the carrier said […]