Town Hall News

(Reuters) – Several lawsuits have been filed over the terms of last month’s emergency deal to save Swiss lender Credit Suisse by selling it to its bigger rival UBS. The 3 billion Swiss franc ($3.4 billion) rescue, hammered out over a weekend during a bout of turmoil in the global banking sector, upended a long-established practice of giving bondholders priority over shareholders in a debt recovery. Around 16 billion Swiss […]

By Jonathan Stempel (Reuters) – Ford Motor Co on Friday defeated an appeal by consumers who said the automaker cheated on fuel economy tests for its F-150 and Ranger trucks, allowing it to inflate mileage estimates on window stickers. In a 3-0 decision, the 6th U.S. Circuit Court of Appeals in Cincinnati said federal law gave the Environmental Protection Agency authority to estimate vehicle fuel economy, preempting the plaintiffs’ state […]

By Saqib Iqbal Ahmed NEW YORK (Reuters) – As U.S. stocks test the top of a range that has held for months, two widely used analytical styles appear to be painting conflicting scenarios for where they might go next. Technical indicators such as equity price movement largely show stocks are poised to continue a rally that has seen the S&P 500 climb 8% year-to-date, analysts who track them said. Many […]

By Steve Scherer and Victoria Waldersee OTTAWA (Reuters) -Canada and Volkswagen on Friday together committed more than C$20 billion ($14.8 billion) for a battery gigafactory in St. Thomas, Ontario, the biggest single investment ever in the country’s electric-vehicle supply chain. Europe’s largest carmaker is investing up to C$7 billion to build the plant, Volkswagen said in a statement. Canada’s federal government will provide up to C$13.2 billion in manufacturing tax […]

ZAGREB (Reuters) – Hyundai’s Thierry Neuville led the Croatia Rally after Friday’s opening leg despite winning only one of the eight stages. Hyundai are racing this weekend with their two cars decked out in the colours of the Irish flag as they mourn Craig Breen, their Irish driver who died in an April 13 testing crash. Neuville ended the day 5.7 seconds clear of Toyota’s Elfyn Evans with Estonian Ott […]

LIMA (Reuters) -Former Peruvian President Alejandro Toledo surrendered to U.S. authorities on Friday, a U.S. Marshals Service official told Reuters, a day after his bid to block his extradition to Peru over corruption charges was denied. Toledo, who was president from 2001 to 2006, is wanted in Peru over charges that he received more than $25 million from Brazilian construction company Odebrecht in exchange for help in obtaining public works […]

By Yuvraj Malik (Reuters) -Twitter on Thursday began removing legacy blue checkmarks from user profiles, with famous people including Pope Francis, Microsoft Corp co-founder Bill Gates and Portuguese soccer star Cristiano Ronaldo losing their verified status. Under Elon Musk’s ownership, Twitter has changed how it hands out the coveted blue checkmarks, previously given to noted individuals, journalists, executives, politicians and establishments after verifying their identities. They served as a mark […]

By Yuvraj Malik (Reuters) -Twitter on Thursday began removing legacy blue checkmarks from user profiles, with famous people including Pope Francis, Microsoft Corp co-founder Bill Gates and Portuguese soccer star Cristiano Ronaldo losing their verified status. Under Elon Musk’s ownership, Twitter has changed how it hands out the coveted blue checkmarks, previously given to noted individuals, journalists, executives, politicians and establishments after verifying their identities. They served as a mark […]

By Joseph White DETROIT (Reuters) -United Auto Workers union President Shawn Fain said on Friday there is “no excuse” for Detroit’s automakers to set up electric vehicle operations and ventures that are not unionized. Fain also told the Detroit Automotive Press Association that Stellantis NV’s decision to idle an assembly plant in Belvidere, Illinois, is “a flat-out violation” of the union’s contract with the UAW and is unacceptable. He said […]