Town Hall News

By Shreyashi Sanyal and Shristi Achar A (Reuters) – Wall Street’s main indexes fell on Friday as U.S. consumer sentiment slumped to a six-month low, indicating that rapid interest rate hikes were starting to hurt economic growth, while Tesla shares shed their initial gains. Consumer sentiment in May dropped to its lowest reading since last November as a standoff to raise the federal government’s borrowing cap fanned worries about the […]

By Valerie Volcovici and Timothy Gardner (Reuters) – The Biden administration’s plan to decarbonize the U.S. power sector envisions the first-ever large-scale use of carbon capture and green hydrogen over the next decade – raising questions about whether the climate-fighting technologies can rise to the challenge. The issue could emerge as a legal vulnerability for the plan, one of President Joe Biden’s biggest steps in his strategy to combat global […]

By Supantha Mukherjee and Victoria Waldersee STOCKHOLM/BERLIN (Reuters) -Two electric vehicle battery makers plan to spend around 10 billion euros ($11 billion) on factories in Europe, they said on Friday, after Europe loosened state aid rules for green industry projects in a bid to win the subsidy race with the U.S. Both plants will start production in 2026, employ thousands of people and supply batteries to European car makers. After […]

By Liliana Salgado and Ted Hesson YUMA, Arizona (Reuters) – Migrants gathered on both sides of the U.S.-Mexico border on Thursday hours before immigration restrictions known as Title 42 expire, with some rushing to cross ahead of tough new asylum rules that will replace a COVID-era order. U.S. Customs and Border Protection (CBP) has in recent days been holding up to 28,000 migrants at its facilities, far beyond its stated […]

By Ann Saphir, Andrea Shalal and Jeff Mason WASHINGTON (Reuters) – U.S. President Joe Biden on Friday nominated Federal Reserve Governor Philip Jefferson to be the central bank’s vice chair, a key policy advisory role recently vacated when Lael Brainard took a top position in Biden’s White House economics team. Biden also nominated the World Bank’s U.S. executive director, Adriana Kugler, to be a Fed governor, adding a labor economist […]

By Phuong Nguyen HANOI (Reuters) -Vietnamese electric automaker VinFast said on Friday it will list in the United States via a merger with special purpose acquisition company (SPAC) Black Spade Acquisition Co. The move comes after the startup last month said it had received a fresh round of funding pledges worth $2.5 billion from parent company Vingroup, Vietnam’s biggest conglomerate, and founder Pham Nhat Vuong, Vietnam’s first billionaire and richest […]

By Laura Matthews and Harry Robertson NEW YORK/LONDON (Reuters) – The U.S. dollar clung to modest gains against the euro on Friday and was headed for its biggest weekly gain since February, as uncertainty around the U.S. debt ceiling and monetary policy prompted a shift to safe havens. Analysts said the greenback may be benefiting as debt ceiling talks progress and markets rethink the narrative that the U.S. Federal Reserve […]

By Kopano Gumbi and Wendell Roelf JOHANNESBURG (Reuters) -South African officials on Friday hit back at U.S. accusations that a sanctioned Russian ship had collected weapons from a naval base near Cape Town late last year, a move investors fear could lead Washington to impose sanctions. The U.S. ambassador to South Africa said on Thursday he was confident that a Russian ship uploaded weapons from the Simon’s Town base in […]

(Reuters) – Davide Bais of Eolo-Kometa won a gruelling stage seven of the Giro d’Italia on Friday after leading a three-man breakaway, beating Karel Vacek and Simone Petilli to the finish line for the first victory of his career. The seventh stage was one for the climbers on a 218-km ride from Capua to Gran Sasso d’Italia which involved flat roads at the start before the final climb of approximately […]