Town Hall News

By Foo Yun Chee and Padraic Halpin (Reuters) – Meta Platforms Inc is set to face a record European Union privacy fine related to data transfer of Facebook’s EU users to U.S. servers for failing to comply with a warning by a top EU court, two sources familiar with the matter said. The penalty will be higher than the previous record 746 million euros ($821.20 million) fine for Amazon.com Inc, […]

By Gloria Dickie LONDON (Reuters) -For the first time ever, global temperatures are now more likely than not to breach 1.5 degrees Celsius (2.7 degrees Fahrenheit) of warming within the next five years, the World Meteorological Organization (WMO) said on Wednesday. This does not mean the world would cross the long-term warming threshold of 1.5C above preindustrial levels set out in the 2015 Paris Agreement. But a year of warming […]

By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom has offered interoperability remedies in an effort to address European Union antitrust concerns over its $61 billion VMware bid, people familiar with the matter said. Broadcom submitted its proposal on Tuesday, a European Commission filing showed. The EU competition enforcer, which did not provide details in line with its policy, extended its deadline for a decision to July 17. Broadcom […]

(In paragraph 10, corrects typo in swath) By Anna Tong (Reuters) -The swift growth of artificial intelligence technology could put the future of humanity at risk, according to most Americans surveyed in a Reuters/Ipsos poll published on Wednesday. More than two-thirds of Americans are concerned about the negative effects of AI and 61% believe it could threaten civilization. Since OpenAI’s ChatGPT chatbot became the fastest growing application of all time, […]

By Chiara Elisei LONDON (Reuters) -Holders of credit insurance linked to Credit Suisse bonds will not get a payout after a committee that adjudicates on disputes in the derivatives market said on Wednesday the bank’s state-engineered merger with UBS did not constitute a credit event. The Swiss bank in March was taken over by UBS in a state-assisted deal that wiped out Credit Suisse’s $17 billion Additional Tier 1 (AT1) […]

(Reuters) -Brentford and England striker Ivan Toney has been banned from football for eight months and fined 50,000 pounds ($63,000) after admitting to 232 breaches of the Football Association’s (FA) betting rules, the governing body said on Wednesday. Toney will not be able to play for club or country until Jan. 16, 2024 and he has been warned as to his future conduct. The sanctions were imposed by an independent […]

(Adds dropped word ‘interoperability’ to headline) By Foo Yun Chee BRUSSELS (Reuters) -U.S. chipmaker Broadcom has offered interoperability remedies in an effort to address European Union antitrust concerns over its $61 billion VMware bid, people familiar with the matter said. Broadcom submitted its proposal on Tuesday, a European Commission filing showed. The EU competition enforcer, which did not provide details in line with its policy, extended its deadline for a […]

By Gloria Dickie LONDON (Reuters) -For the first time ever, global temperatures are now more likely than not to breach 1.5 degrees Celsius (2.7 degrees Fahrenheit) of warming within the next five years, the World Meteorological Organization (WMO) said on Wednesday. This does not mean the world would cross the long-term warming threshold of 1.5C above preindustrial levels set out in the 2015 Paris Agreement. But a year of warming […]

(Corrects the description of the regulatory threshold in the fifth paragraph to percentage of total capital, not total assets) By Matt Tracy (Reuters) -Many U.S. regional lenders may have to consider selling off commercial real estate (CRE) loans at a steep discount after breaching key regulatory thresholds for exposure to the troubled sector, according to new data and market sources. Regional banks, the largest lenders to the beleaguered U.S. CRE […]