Town Hall News

(Reuters) -Hundreds of lawsuits have been filed over the terms of an emergency deal to save Swiss lender Credit Suisse by selling it to its bigger rival UBS, a Swiss court has said. The 3 billion Swiss franc ($3.35 billion) rescue, hammered out over a March weekend amid turmoil in the global banking sector, upended a long-established practice of giving bondholders priority over shareholders in a debt recovery. Around 16 […]

MELBOURNE (Reuters) – Australian police have charged a man with armed robbery and accused him of threatening Nick Kyrgios’ mother at gunpoint before stealing the Australian tennis player’s car, local media reported on Tuesday. The 32-year-old Canberra suspect appeared in the ACT Magistrates Court on Tuesday to face five charges, including failure to stop for police and driving while suspended, the Australian Broadcasting Corporation (ABC) said, citing court documents. He […]

LONDON (Reuters) – British Foreign Secretary James Cleverly said he expected to meet China’s Vice President Han Zheng when senior Chinese figures visit London for King Charles’ coronation later this week. “I suspect that I will,” Cleverly told BBC Radio when asked if he would be meeting the Chinese vice president. “And when I do, I will discuss a whole range of things just as I do when I meet […]

LONDON (Reuters) – British Foreign Secretary James Cleverly said he expected to meet China’s Vice President Han Zheng when senior Chinese figures visit London for King Charles’ coronation later this week. “I suspect that I will,” Cleverly told BBC Radio when asked if he would be meeting the Chinese vice president. “And when I do, I will discuss a whole range of things just as I do when I meet […]

By Ron Bousso and Shadia Nasralla LONDON (Reuters) -BP made a $5 billion profit in the first quarter of 2023, up from the previous three months on the back of strong oil and gas trading as the company pared back a share buyback programme. BP’s profit, which beat forecasts, follows strong results from rivals including Exxon Mobil and Chevron last week as they continue to benefit from energy prices that […]

By Stella Qiu SYDNEY (Reuters) -Australia’s central bank on Tuesday stunned markets by raising its cash rate 25 basis points when traders had looked for an extended pause, saying inflation was way too high and warned that even further tightening may be needed to bring it to heel. The unambiguously hawkish policy stance sent the Australian dollar soaring and bond futures tumbling as markets quickly lifted the peak for interest […]

By Emily Rose and Nidal al-Mughrabi JERUSALEM/GAZA (Reuters) -A prominent Palestinian militant died on Tuesday in Israeli custody after an 87-day hunger strike, authorities said, the first such fatality in more than three decades, and tensions around Gaza soared as his Islamic Jihad faction swore revenge. Khader Adnan, who was awaiting trial, was found unconscious in his cell and taken to a hospital, where he was declared dead after efforts […]

By Daniel Leussink TOKYO (Reuters) – Japan’s automakers are facing a sales crisis in China, data shows, as a rapid shift to electric vehicles (EVs) has upended the world’s largest auto market and led to a plunge in purchases of gasoline-powered cars. Total sales of Japanese auto brands in China were down 32% year-on-year in the first quarter, more than double the pace of the overall market contraction, industry data […]

By Ron Bousso and Shadia Nasralla LONDON (Reuters) -BP made a $5 billion profit in the first quarter of 2023, up from the previous three months on the back of strong oil and gas trading as the company pared back a share buyback programme. BP’s profit, which beat forecasts, follows strong results from rivals including Exxon Mobil and Chevron last week as they continue to benefit from energy prices that […]