Town Hall News

SAN FRANCISCO (Reuters) -Proxy advisory firm ISS on Wednesday recommended Tesla investors vote against re-election of board chair Robyn Denholm, citing concerns about a lack of the board’s oversight over the pledging of some company stocks by CEO Elon Musk and his brother Kimbal Musk. “Pledging does inherently pose risks to ordinary shareholders, and the likelihood of a forced sale of pledged shares increases at a time when the share […]

By Kiana Wilburg GEORGETOWN (Reuters) -An Exxon Mobil unit is in breach of insurance obligations for its first offshore oil project in Guyana in part due to errors by the environmental regulator, a Guyanese court ruled on Wednesday, a decision the government rejected. Exxon “engaged in a disingenuous attempt” to dilute its obligations under its environmental permit for Liza One, the project that inaugurated Guyana’s oil production in 2019, High […]

By Rich McKay ATLANTA (Reuters) -Police have arrested a man suspected of killing one woman and wounding four others on Wednesday in a shooting spree at a medical building in midtown Atlanta before carjacking a vehicle to flee the scene, authorities said. The accused gunman, identified as 24-year-old Deion Patterson, a former U.S. Coast Guardsman, was taken into custody north of the city in suburban Cobb County, several hours after […]

By Sam Jabri-Pickett TORONTO (Reuters) -Google and Meta would withdraw access to news articles in Canada if legislation compelling internet companies to pay news publishers is passed, company executives told Canadian lawmakers on Wednesday. Canada’s proposed legislation would force platforms like Google parent Alphabet Inc and Facebook parent Meta Platforms Inc to negotiate commercial deals and pay Canadian news publishers for their content, part of a broader global trend to […]

By Devayani Sathyan BENGALURU (Reuters) -Australia’s central bank will likely deliver one more 25-basis-point interest rate increase by end-September to 4.10% following a surprise hike on Tuesday, according to a slim majority of economists in a snap Reuters poll. The Reserve Bank of Australia, which apologized last year for providing unclear guidance, has sent mixed signals in recent months over its inclination to hike rates further or pause, although Governor […]

LONDON (Reuters) – From the religious symbolism of his anointment to the moment when the crown is placed on his head, what are the highlights to look out for during the coronation of King Charles on Saturday? COACH PROCESSION A grand procession by the royals in historic coaches through central London is always a highlight of any major state occasion. For the coronation, Charles and his wife Camilla, who will […]

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – The Federal Reserve moved its management of the post-pandemic economic recovery into a new phase on Wednesday with what may be the last in a historic series of interest rate hikes and heightened attention to credit and other economic risks. The U.S. central bank raised its benchmark overnight interest rate by a quarter of a percentage point to the 5.00%-5.25% range, […]

SHANGHAI (Reuters) -China’s tourism business during the May Day holiday rebounded to pre-COVID 19 levels, as the number of domestic trips rose by more than two-thirds from a year earlier, government data showed on Wednesday. If sustained, a recovery in the service sector could ease worries that China’s post-pandemic economic recovery is losing momentum as the property market remains soft, and exports face headwinds. Travel-hungry Chinese made 274 million domestic […]

By Anirban Sen and Noel Randewich (Reuters) -PacWest Bancorp is exploring strategic options, a source familiar with the matter said, sending the shares of the bank and several other U.S. regional lenders tumbling in after-market trading. The dramatic fall in shares — PacWest fell nearly 60% — underscores how investors remain unconvinced about the health of regional banks despite regulators’ efforts to call an end to the banking crisis that […]