Town Hall News

By Andrew Chung and John Kruzel WASHINGTON (Reuters) -A Democratic-led Senate panel on Tuesday explored the possibility of pursuing legislation to impose ethics standards on the U.S. Supreme Court amid revelations about luxury trips and real estate transactions by conservative justices, but the panel’s Republican members voiced stern opposition. “The highest court in the land should not have the lowest ethical standards,” said Senate Judiciary Committee Chairman Dick Durbin, who […]

By Yazan Kalach and Orhan Qereman CAIRO/QAMISHLI, Syria (Reuters) – Radwan Hisham Wahba fled Syria in 2012 for Sudan, hoping to build a new life after being shot when his country collapsed into civil war. Now, as violence engulfs his adopted home, he and many other Syrians living there are on the move once more. Days after escaping the bloodshed in Khartoum as military factions turned on each other in […]

(Reuters) – PNC Financial Services Group Inc said on Tuesday the parent company and its banking unit can offer up to $15 billion of its commercial paper to calm investor worries as liquidity in balance sheets of banks come under scrutiny. The regional bank, which has so far been insulated from deposit flight, said in a filing the holding company can offer up to $5 billion and the banking unit […]

By Trevor Hunnicutt WASHINGTON (Reuters) -U.S. President Joe Biden and Vice President Kamala Harris are gearing up for their first fundraising events as soon as next week to help kick off their 2024 reelection campaign, according to people briefed on the plans. Some of the events being planned for Biden include a reception and dinner that could take place in New York City on May 10, the people said. The […]

(Reuters) – The New York Stock Exchange said on Tuesday it will delist shares of First Republic Bank, the lender that was seized by regulators before JPMorgan Chase & Co acquired most of its assets. Apart from the company’s common stock, seven different types of its preferred stock will also be delisted. Trading in all the shares will be suspended immediately, the exchange said. First Republic was acquired by Merrill […]

By Manya Saini and Niket Nishant (Reuters) -Hindenburg Research, the short investor whose reports on companies have erased a big chunk of their value, criticized Icahn Enterprises LP (IEP) on Tuesday over the reporting of its finances, leading to a 25% drop in the shares of activist investor Carl Icahn’s firm. Hindenburg’s new report, which accused IEP of overvaluing its holdings and relying on a “Ponzi-like” structure to pay dividends, […]

By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended sharply lower on Tuesday as regional bank shares tumbled on renewed fears over the financial system and as investors tried to gauge how much longer the Federal Reserve may need to hike interest rates. The Fed is expected to raise rates 25 basis points on Wednesday, and investors are anxious for any signals from the central bank on whether it […]

By Niket Nishant and Chibuike Oguh (Reuters) – Shares of regional banks PacWest Bancorp and Western Alliance Bank plunged on Tuesday as the demise of First Republic Bank triggered investor concern about the financial health of other mid-sized lenders. JPMorgan Chase agreed on Monday to acquire a majority of First Republic’s assets in a $10.6 billion deal after regulators seized the lender, which became the largest U.S. bank failure since […]

By Chris Thomas, Dhanya Skariachan and Tanvi Mehta BENGALURU (Reuters) -Cash-strapped Indian airline Go First filed for bankruptcy on Tuesday, blaming “faulty” Pratt & Whitney engines for the grounding of about half its fleet. The move marks the first major airline collapse in India since Jet Airways filed for bankruptcy in 2019, and underscores the fierce competition in a sector dominated by IndiGo and the recent merger of Air India […]