Town Hall News

By Jody Godoy (Reuters) – Theranos founder Elizabeth Holmes will begin serving her prison sentence on May 30 for defrauding investors in the failed blood-testing startup once valued at $9 billion. U.S. District Judge Edward Davila set the date on Wednesday for Holmes, 39, to begin serving 11 years and three months in prison. Holmes rose to fame after claiming Theranos’ small machines could run an array of diagnostic tests […]

By Niket Nishant and Chibuike Oguh (Reuters) -Shares of U.S. regional lenders jumped on Wednesday on growing investor confidence that the worst of the banking crisis was likely over, following news of strong deposit growth at Western Alliance Bancorp. Deposits at Western Alliance grew by more than $2 billion in the three months to May 12, the bank said on Tuesday, suggesting customers remained confident of its financial health after […]

By Dietrich Knauth NEW YORK (Reuters) – A U.S. bankruptcy judge on Wednesday ordered the U.S. Federal Deposit Insurance Corporation to return $10 million in seized tax refund checks to SVB Financial, the bankrupt former parent of failed Silicon Valley Bank. Judge Martin Glenn in Manhattan handed a victory to SVB Financial in broader dispute over FDIC’s efforts to recoup its costs in rescuing the failed Silicon Valley Bank, preventing […]

(Reuters) – An Armenian soldier died on Wednesday after shelling by forces from neighbouring Azerbaijan, Interfax news agency said, the latest in a long series of recent clashes between the two former Soviet states. Interfax cited the Armenian defence ministry as saying shells hit the village of Sotk, close to the border. Azerbaijan dismissed the Armenian accusation as “a complete lie”, the agency said. The two nations have fought two […]

WASHINGTON (Reuters) – Boeing Co said on Wednesday it is rolling out a data modeling tool aimed at helping airlines and policymakers determine the quickest, most efficient path to reducing aviation emissions to zero by 2050. The tool, known as Cascade, allows users to adjust different variables – such as the use of sustainable fuels or electric propulsion, the replacement of older-model aircraft, operational improvements and other advanced technologies – […]

(Reuters) – Private-equity firms Francisco Partners and TPG are working together on a $5 billion-plus bid to acquire software company New Relic, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. New Relic did not immediately respond to a Reuters request for comment. (Reporting by Manya Saini in Bengaluru; Editing by Shinjini Ganguli) Brought to you by www.srnnews.com

By Jonathan Stempel (Reuters) – San Francisco said on Wednesday it reached a $230 million settlement with Walgreens Boots Alliance Inc over its role in the city’s opioid epidemic. The settlement came nine months after U.S. District Judge Charles Breyer in San Francisco said the drugstore chain could be held liable for having “substantially contributed” to an opioid epidemic that caused “widespread harm” in the city and constituted a public nuisance. […]

By Luc Cohen and Brendan O’Brien NEW YORK (Reuters) -The mother of a New Yorker killed in 2017 when a man driving a truck mowed down cyclists and pedestrians on a crowded Manhattan bike path told a hushed courtroom on Wednesday that no punishment meted out to the attacker could compare to her pain. “This evil murderer has destroyed so many lives,” said Monica Missio, the mother of victim Nicholas […]

By Nathan Gomes (Reuters) -Pilots of FedEx Corp’s air delivery unit on Wednesday voted “overwhelmingly” in favor of a strike if needed, the Air Line Pilots Association said as it enters the final stages of a contract negotiation with the company. With aviators in short supply and air travel demand booming, pilots are enjoying enhanced bargaining power, encouraging them to push for better contracts with airlines and parcel firms.  More […]