Town Hall News

By Nupur Anand, Anirban Sen, David French and Isla Binnie NEW YORK (Reuters) -On March 12, as several U.S. banks reeled from a crisis in confidence, JPMorgan Chase & Co put its might behind First Republic Bank, giving the troubled lender what two sources said was a $10 billion financing. The JPMorgan facility did not stop depositors from fleeing the lender. But it turned out to be the start of […]

By Nupur Anand, Anirban Sen, David French and Isla Binnie NEW YORK (Reuters) -On March 12, as several U.S. banks reeled from a crisis in confidence, JPMorgan Chase & Co put its might behind First Republic Bank, giving the troubled lender what two sources said was a $10 billion financing. The JPMorgan facility did not stop depositors from fleeing the lender. But it turned out to be the start of […]

By Medha Singh and Lisa Pauline Mattackal (Reuters) -Can inherently volatile cryptocurrencies become safe-havens? Apparently they can in some parts of the world, such as Argentina and Turkey, where soaring prices and tumbling local currencies have forced people to seek refuge in digital coins. Ownership of digital currencies in Turkey was the highest in the world at 27.1% followed by Argentina at 23.5% — well above global crypto ownership rate […]

By Medha Singh and Lisa Pauline Mattackal (Reuters) -Can inherently volatile cryptocurrencies become safe-havens? Apparently they can in some parts of the world, such as Argentina and Turkey, where soaring prices and tumbling local currencies have forced people to seek refuge in digital coins. Ownership of digital currencies in Turkey was the highest in the world at 27.1% followed by Argentina at 23.5% — well above global crypto ownership rate […]

KUALA LUMPUR/SINGAPORE (Reuters) – Malaysian maritime authorities were searching on Tuesday for three crew missing from a Gabon-registered tanker a day after the 26-year-old vessel caught fire in waters off the southern coast. The ship, Pablo, sailing from China to Singapore to pick up crude oil, was not carrying cargo and there were no reports of an oil spill, the Malaysian Maritime Enforcement Agency (MMEA) said. However, it did not […]

By Blake Brittain (Reuters) – Gilead Sciences Inc is headed to trial in Delaware federal court this week to fight claims that it owes the U.S. government a share of multibillion-dollar profits from its HIV-prevention drug regimen. The government is seeking more than $1 billion from Gilead for allegedly failing to compensate the Centers for Disease Control and Prevention (CDC) for discovering that Gilead’s HIV-treatment drug Truvada could help prevent […]

(Reuters) – A pioneer of artificial intelligence said he quit Google to speak freely about the technology’s dangers, after realising that computers could become smarter than people far sooner than he and other experts had expected. “I left so that I could talk about the dangers of AI without considering how this impacts Google,” Geoffrey Hinton wrote on Twitter. In an interview with the New York Times, Hinton said he […]

GENEVA (Reuters) – A United Nations refugee official said on Tuesday that more than 100,000 refugees have now crossed from Sudan to neighbouring countries to escape the conflict that erupted last month. “Over 100,000 refugees are estimated to be among those who have now crossed to neighbouring countries, including Sudanese refugees,” Olga Sarrado, spokesperson at United Nations High Commissioner for Refugees, told reporters at a briefing in Geneva. (Reporting by […]

By Tatiana Bautzer and Saeed Azhar NEW YORK (Reuters) -Few investors and bankers could have imagined regulators would allow the largest U.S. lender to buy another bank and become even bigger. Then, Jamie Dimon beat the odds, clinching a deal to buy First Republic Bank on Monday. Now, the JPMorgan Chase & Co CEO expects more deals will follow in the industry. “Banks will consolidate,” Dimon told analysts on a […]