Town Hall News

By Medha Singh (Reuters) – Shares of highly shorted Upstart Holdings jumped 32% in early trading on Wednesday, squeezing out bearish investors, after the artificial intelligence-driven lending marketplace secured an additional $2 billion in funding. The San Mateo, California-based company, which uses AI to verify and process loans quickly, said it would receive the capital from new and existing partners over the next 12 months, helping the firm navigate an […]

By Medha Singh (Reuters) – Shares of highly shorted Upstart Holdings jumped 32% in early trading on Wednesday, squeezing out bearish investors, after the artificial intelligence-driven lending marketplace secured an additional $2 billion in funding. The San Mateo, California-based company, which uses AI to verify and process loans quickly, said it would receive the capital from new and existing partners over the next 12 months, helping the firm navigate an […]

(Reuters) -Airbnb’s shares slid 12% on Wednesday after the top vacation rental firm issued a gloomy second-quarter forecast and signaled that the high cost of travel may be finally catching up to budget-conscious U.S. consumers. Household savings and pent-up demand have largely insulated the U.S. travel industry from inflationary pressures that have roiled other sectors. Airbnb, however, said on Tuesday it expects fewer bookings and lower average daily rates, or […]

(Reuters) -Airbnb’s shares slid 12% on Wednesday after the top vacation rental firm issued a gloomy second-quarter forecast and signaled that the high cost of travel may be finally catching up to budget-conscious U.S. consumers. Household savings and pent-up demand have largely insulated the U.S. travel industry from inflationary pressures that have roiled other sectors. Airbnb, however, said on Tuesday it expects fewer bookings and lower average daily rates, or […]

(Reuters) – California has agreed to pay $24 million to the family of a man who lost consciousness and died after highway patrol officers pinned him to the ground while he screamed, “I can’t breathe,” a lawyer for the family said. The settlement comes six weeks after seven California Highway Patrol Officers and a registered nurse were charged with involuntary manslaughter and assault for their involvement in the March 31, […]

(Reuters) – California has agreed to pay $24 million to the family of a man who lost consciousness and died after highway patrol officers pinned him to the ground while he screamed, “I can’t breathe,” a lawyer for the family said. The settlement comes six weeks after seven California Highway Patrol Officers and a registered nurse were charged with involuntary manslaughter and assault for their involvement in the March 31, […]

NEW YORK (Reuters) – Republican U.S. Representative George Santos, who has resisted calls to resign for lying about his resume, was charged with fraud, money laundering and theft of public funds, the Justice Department said in a statement on Wednesday. He was expected to appear later in the day at a federal court in New York. Santos’ attorney and his congressional office did not respond to requests for comment from […]

NEW YORK (Reuters) – Republican U.S. Representative George Santos, who has resisted calls to resign for lying about his resume, was charged with fraud, money laundering and theft of public funds, the Justice Department said in a statement on Wednesday. He was expected to appear later in the day at a federal court in New York. Santos’ attorney and his congressional office did not respond to requests for comment from […]

By Akash Sriram (Reuters) – Shares of Rivian Automotive Inc rose 11% on Wednesday as its positive earnings stood out in a poor quarter for electric-vehicle startups, but analysts warned that stiff competition will be a hurdle in its path to profitability. The company looked set to add about $1.4 billion to its market valuation after the EV maker reiterated its annual production forecast and beat quarterly revenue estimates. The […]