Town Hall News

(Corrects to add missing letter in rear-wheel in first paragraph) (Reuters) -Tesla Inc said on Wednesday a $7,500 tax credit in place since January will be reduced for its Model 3 rear-wheel drive by March 31, subject to guidance due this week from the U.S. Treasury Department on the sources of battery components. The Treasury Department is due to issue guidance on sourcing of electric vehicle (EV) batteries by Friday […]

HONG KONG (Reuters) -China’s top property developer Country Garden Holdings said on Thursday its core profit plunged 90% in 2022 and it posted a record net loss, hurt by a sluggish property market and a debt crisis in the sector. Country Garden said core profit, which excludes changes in the value of assets and financial instruments and foreign exchange, was 2.6 billion yuan ($377.36 million), down from 26.9 billion yuan […]

ALMATY (Reuters) – Kazakhstan’s ruling Amanat party nominated Alikhan Smailov, prime minister since January 2022, for the same position on Thursday, President Kassym-Jomart Tokayev’s office said, meaning he was certain to retain the job. Smailov, 50, and other cabinet members resigned automatically after the March 19 snap parliamentary election, and Tokayev now needs to appoint a new government. (Reporting by Olzhas Auyezov; Editing by Himani Sarkar) Brought to you by […]

(Reuters) – Poland’s biggest e-commerce platform Allegro expects its core earnings will rise in the first quarter, it said Thursday, as it focuses on cutting costs amid economic uncertainty. Allegro forecast its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) will increase 20-23% in its key Polish market. Gross merchandise value (GMV), an industry metric used to measure transaction volumes, is expected to rise 13%-14%, while revenue is likely […]

(Reuters) – The feud between the PGA Tour and breakaway LIV Golf Series has left the sport in turmoil but Masters champions Patrick Reed and Bubba Watson do not expect any animosity when players from both circuits tee it up at Augusta National next week. LIV, which is bankrolled by Saudi Arabia’s Public Investment Fund, and the PGA Tour have been in litigation since several LIV players filed federal antitrust […]

(Reuters) – Meta Platforms Inc executives are discussing a company-wide ban on political advertising in Europe due to concerns that Facebook and Instagram will be unable to comply with upcoming EU regulations targeting online campaigns, the Financial Times reported on Thursday. EU lawmakers in February agreed to tougher rules on targeted political advertising aimed at countering misinformation during elections. The proposed rules require U.S. tech giants to provide more data […]

ALMATY (Reuters) – Kazakhstan’s ruling Amanat party nominated Alikhan Smailov, prime minister since January 2022, for the same position on Thursday, President Kassym-Jomart Tokayev’s office said, meaning he was certain to retain the job. Smailov, 50, and other cabinet members resigned automatically after the March 19 snap parliamentary election, and Tokayev now needs to appoint a new government. (Reporting by Olzhas Auyezov; Editing by Himani Sarkar) Brought to you by […]

By Jody Godoy (Reuters) – U.S. criminal charges should be dropped against two former Societe Generale SA bankers for allegedly trying to rig the London interbank offered rate, prosecutors told a New York court on Wednesday. Muriel Bescond, a former head of Societe Generale SA’s Treasury desk in Paris, and her boss Danielle Sindzingre, who was SocGen’s global head of treasury, were charged in 2017 with preparing inaccurate Libor submissions […]

By Crispian Balmer and Alvise Armellini VATICAN CITY (Reuters) – Pope Francis has a respiratory infection and will need to spend “a few days” in hospital for treatment, the Vatican said in a statement on Wednesday, amid concern for the 86-year-old’s condition. The 86-year-old pontiff was taken to Rome’s Gemelli hospital after complaining of breathing difficulties over the past few days, the statement said. Tests showed he had the infection […]