Town Hall News

By Ece Toksabay and Ali Kucukgocmen ANKARA (Reuters) – Turkish President Tayyip Erdogan’s AK Party came out on top in Sunday’s elections in 10 of the 11 provinces hit by February’s earthquakes, with analysts saying his vow to rebuild devastated cities had reassured voters in what are mostly AKP strongholds. The ruling party’s strong showing, defying initial expectations in February that the quakes would hurt its support, was also driven […]

(Reuters) – Giro d’Italia organisers have removed the race’s highest climb and shortened Friday’s 207km 13th stage to 199km due to snow and the risk of avalanches. The 2,469m ascent up the Great St Bernard Pass was positioned as this year’s Cima Coppi, the highest climb of the race. Organisers said on Tuesday cyclists will instead ride through the tunnel during the route from Borgofranco d’Ivrea to Crans-Montana. “Given the […]

(Reuters) – Nanosynth Group said on Tuesday it has proposed to enter into creditors’ voluntary liquidation, after an unsuccessful attempt to procure necessary funding. The company had flagged the lack of cash resources last month, saying it was evaluating potential funding options. Creditors’ voluntary liquidation – the most common type of insolvency – is a liquidation procedure that enables a company to be wound up by resolution of its members […]

WASHINGTON (Reuters) – U.S. homebuilder sentiment rose to a 10-month high in May as tight housing supply boosted demand for new construction, according to a survey on Tuesday that also showed tightening credit conditions were becoming a challenge. The National Association of Home Builders/Wells Fargo Housing Market index increased five points to a reading of 50 this month. The fifth straight monthly increase lifted the index to the midpoint mark […]

(Reuters) -Singaporean tech firm Sea Ltd missed first-quarter profit estimates on Tuesday, as its digital entertainment revenue halved and it took a one-time charge of more than $100 million. Sea shares dropped 12.5% to $77.05 and headed for their worst day in six months, dulling this year’s strong gains booked on a cost-cutting plan involving thousands of job cuts, the closure of some operations and a lower marketing budget. The […]

By Ahmad Ghaddar LONDON (Reuters) -Oil futures rose on Tuesday amid support from a higher global demand forecast from the International Energy Agency (IEA), but weaker-than-expected Chinese economic data limited further gains. Brent crude futures rose by 46 cents, or 0.6%, to $75.69 a barrel by 1352 GMT while U.S. West Texas Intermediate crude was up 45 cents, or 0.6%, at $71.56. Both benchmarks rose more than 1% on Monday, […]

By Padraic Halpin DUBLIN (Reuters) -Federal Reserve Bank of Cleveland President Loretta Mester said on Tuesday that she does not think the U.S. central bank is at a point yet where it can hold interest rates steady for a period of time, given how stubborn inflation is. Federal Reserve Chair Jerome Powell has signaled the central bank may pause further rate hikes as it assesses the impact of its past […]

By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Canada’s annual inflation rate rose in April for the first time in 10 months, data showed on Tuesday, adding pressure on the central bank to raise interest rates again after having paused its tightening campaign since January. Annual inflation unexpectedly rose to 4.4% in April, Statistics Canada said. Analysts polled by Reuters had expected the annual rate to edge down to 4.1% […]

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar drifted higher on Tuesday after data showed retail sales in April were lower than expected but the underlying trend remained resilient. The dollar index was last slightly up on the day at 102.43. Against the yen, the greenback was also modestly higher at 136.155 yen U.S. retail sales rose less than expected in April, though the underlying trend remained solid, […]