Town Hall News

By Karen Freifeld and Sarah N. Lynch CENTRAL ISLIP, New York (Reuters) -U.S. Representative George Santos on Wednesday vowed to fight charges of fraud, money laundering and theft of public funds in the latest hit to the newly elected Republican, who has resisted calls to resign for lying about his resume. “It’s a witch hunt,” Santos said shortly after appearing in court in Central Islip, New York, to face the […]

By Nichola Groom (Reuters) -The U.S. Department of Homeland Security this week raided a factory and sales office operated by one of the world’s largest solar panel makers, China’s Jinko Solar Holding Co Ltd, the agency said on Wednesday. A spokesperson for the Homeland Security Investigations arm of DHS, Mike Meares, said search warrants were executed in Florida and California on Tuesday as part of an ongoing federal investigation. He […]

By Karen Freifeld and Sarah N. Lynch CENTRAL ISLIP, New York (Reuters) -U.S. Representative George Santos on Wednesday vowed to fight charges of fraud, money laundering and theft of public funds in the latest hit to the newly elected Republican, who has resisted calls to resign for lying about his resume. “It’s a witch hunt,” Santos said shortly after appearing in court in Central Islip, New York, to face the […]

By Carolina Mandl and Shristi Achar A (Reuters) – The S&P 500 and Nasdaq indexes rose on Wednesday, helped by a slightly lower-than-expected increase in April inflation and Alphabet Inc’s latest artificial intelligence rollout. The Labor Department’s Consumer Price Index (CPI) rose 4.9% in April from a year ago, compared with expectations of a 5% increase, raising hopes that the Federal Reserve’s interest rate hiking cycle is close to an […]

By Nell Mackenzie LONDON (Reuters) -Hedge funds cut their exposure to financial stocks in April after buying discounted equities in the market turmoil that followed the March failures of Silicon Valley Bank and Signature bank, according to S&P Global Market Intelligence data. Hedge funds reduced exposure to financial stocks including banks and trading companies by 1%, or $1.3 billion, after an increase of 5.5% in March, the data showed. “Many […]

By Ahmed Aboulenein WASHINGTON (Reuters) – The leaders of major insulin makers and pharmacy benefit managers (PBMs) are set to blame each other on Wednesday in their testimonies during a U.S. Senate committee hearing on making the life-saving drug more affordable. PBMs negotiate with drugmakers for rebates and lower fees on behalf of employers and other clients, and reimburse pharmacies for prescriptions they dispense. Both sides blame each other for […]

By Nichola Groom (Reuters) -The U.S. Department of Homeland Security this week raided a factory and sales office operated by one of the world’s largest solar panel makers, China’s Jinko Solar Holding Co Ltd, the agency said on Wednesday. A spokesperson for the Homeland Security Investigations arm of DHS, Mike Meares, said search warrants were executed in Florida and California on Tuesday as part of an ongoing federal investigation. He […]

PARIS (Reuters) – The European Central Bank has travelled most of the way in its campaign to raise interest rates, French ECB policymaker Francois Villeroy de Galhau said on Wednesday, adding that further rate hikes would be “more marginal”. “What remains to be done is more marginal,” Villeroy told newspaper group EBRA. “It is the future impact of these past rate hikes that should for the most part allow us […]

By Jeffrey Dastin and Greg Bensinger MOUNTAIN VIEW, California (Reuters) – Alphabet Inc’s Google is rolling out more artificial intelligence for its core search product, hoping to create some of the same consumer excitement generated by Microsoft Corp’s update to rival search engine Bing in recent months. At its annual I/O conference in Mountain View, California, on Wednesday, Google offered a new version of its namesake engine. Called the Search […]