Town Hall News

(Reuters) – C3.ai’s stock tumbled 26% on Tuesday in its biggest one-day drop since the artificial intelligence company’s 2020 IPO, with investors dumping the shares after short seller Kerrisdale Capital alleged “serious accounting and disclosure issues”. C3.ai has “utilized highly aggressive accounting to inflate its income statement metrics in order to meet sell-side analyst estimates for revenue and certain profit metrics, and to conceal significant deterioration in its underlying operations”, […]

By Stefania Spezzati and Oliver Hirt LONDON (Reuters) – The Bank of England has approved UBS Group AG’s takeover of Credit Suisse Group AG in the United Kingdom, people familiar with the process told Reuters, a key market for the Swiss lenders racing to close the rescue deal. Reuters could not establish if any conditions have been requested for the approval, which comes less than three weeks since the takeover […]

By Dietrich Knauth (Reuters) -A Johnson & Johnson subsidiary filed for bankruptcy a second time on Tuesday, seeking to complete a $8.9 billion settlement of lawsuits alleging that its baby powder and other talc products cause cancer. J&J subsidiary LTL Management’s first bankruptcy was dismissed earlier on Tuesday, after an appellate court ruled that the neither J&J not LTL were in the type of “financial distress” that made them eligible […]

By Arathy Somasekhar HOUSTON (Reuters) -Oil prices were little changed in choppy trading on Tuesday as investors weighed OPEC+ planned production cuts against weak U.S. and Chinese economic data that could suggest cooling oil demand. Brent crude futures settled 1 cent higher at $84.94 a barrel, while U.S. West Texas Intermediate (WTI) crude futures closed up 29 cents, or 0.4%, at $80.71 a barrel. “We will need to see demand […]

By Dietrich Knauth (Reuters) -A Johnson & Johnson subsidiary filed for bankruptcy a second time on Tuesday, seeking to complete a $8.9 billion settlement of lawsuits alleging that its baby powder and other talc products cause cancer. J&J subsidiary LTL Management’s first bankruptcy was dismissed earlier on Tuesday, after an appellate court ruled that the neither J&J not LTL were in the type of “financial distress” that made them eligible […]

WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Tuesday called for quicker action to resolve several outstanding sovereign debt restructuring cases and urged the International Monetary Fund to press all bilateral creditors to finalize such deals. The Treasury said Yellen raised the issue during meetings with IMF Managing Director Kristalina Georgieva and Spanish Economy Minister Nadia Calviño, who heads the IMF’s steering committee, ahead of next week’s IMF and World […]

(Reuters) -Wall Street Journal reporter Evan Gershkovich, who was arrested and charged with espionage in Russia last week, met his lawyers for the first time on Tuesday, editor-in-chief Emma Tucker said in a message to staff. “Evan’s health is good, and he is grateful for the outpouring of support from around the world,” Tucker said in the letter, a copy of which was seen by Reuters. “Evan’s family … are […]

(Reuters) – A Johnson & Johnson subsidiary filed for bankruptcy a second time on Tuesday, seeking to complete a $8.9 billion settlement of lawsuits alleging that its baby powder and other talc products cause cancer. (Reporting by Dietrich Knauth; editing by Jonathan Oatis) Brought to you by www.srnnews.com

MEXICO CITY (Reuters) -Mexico’s president said on Tuesday he had written to his Chinese counterpart Xi Jinping, urging him to help control shipments of fentanyl as he fended off criticism in the U.S. that Mexico is not doing enough to stop trafficking of the synthetic opioid. President Andres Manuel Lopez Obrador read out the letter to Xi dated March 22 in which he defended efforts to curb supply of the […]