Town Hall News

By Jonathan Stempel NEW YORK (Reuters) – Norfolk Southern Corp was sued on Tuesday by bondholders who said they lost hundreds of millions of dollars because the railroad concealed safety risks prior to the February derailment in Ohio of a train carrying hazardous chemicals. The proposed class action filed in Manhattan federal court covers investors who own $4.75 billion of Norfolk Southern senior notes and bonds from eight offerings between […]

By Daina Beth Solomon and Jose Luis Gonzalez CIUDAD JUAREZ, Mexico (Reuters) – After hours of waiting on the U.S. side of the border and hoping the Texas National Guard would let them seek U.S. asylum, a group of 15 migrants crossed a shallow green river back to Mexico, their faces drawn in disappointment. After traveling from countries including the Dominican Republic and Guatemala, they were among the first people […]

NEW YORK (Reuters) – A measure of the cost to insure exposure to U.S. government debt declined on Tuesday as Democratic President Joe Biden and top congressional Republican Kevin McCarthy edged closer to a deal to avoid a debt default. Spreads on U.S. one-year credit default swaps, market-based gauges of the risk of a default, declined to 155 basis points from 164 basis points on Monday, according to S&P Global […]

By Milana Vinn NEW YORK (Reuters) -Ed Wehle, a senior Barclays Plc technology banker, has resigned to join U.S. rival Citigroup Inc in New York, according to an internal memo seen by Reuters, adding to an exodus of top investment bankers from the London-based bank. An investment banking veteran of nearly three decades, Wehle will join Citigroup as its global head of technology services, Mark Keene, Citigroup’s global head of […]

By Hyunjoo Jin and Akash Sriram (Reuters) -Tesla Inc shareholders on Tuesday voted to appoint the company’s co-founder and former chief technology officer, JB Straubel, to the board, and rejected a proposal to publish a report that sought to establish succession plans for Chief Executive Elon Musk. Proxy advisory firm Glass Lewis had recommended that shareholders vote against Straubel’s appointment, citing worries about his independence. At its annual shareholder meeting […]

By Andrew Hay TAOS, NEW MEXICO (Reuters) – An 18-year-old gunman who randomly killed three people as he roamed through a New Mexico neighborhood this week legally bought the assault-style rifle he used in the shooting spree, authorities said on Tuesday. The teenager, whose rampage ended when police shot him dead, was identified as Beau Wilson, a high school student in Farmington, the city where Monday’s shooting took place, Police […]

By Michael S. Derby (Reuters) – Several days after ending his leadership role at a small New York State bank holding company, Thomas Murphy has also exited the board that oversees the Federal Reserve Bank of New York, the central bank said Tuesday. The regional Fed said Murphy stepped down from one of its New York Fed director slots reserved for bankers. Murphy had been the president and chief executive […]

WASHINGTON/NEW YORK (Reuters) – The former chief executive of Silicon Valley Bank defended the U.S. lender’s efforts to manage risk in his first public comments after the bank’s shock collapse, as regulators promised better supervision to prevent more such failures. The top executives at SVB and another failed lender, Signature Bank, as well regulators overseeing them appeared at separate congressional hearings on Tuesday to be grilled by senators demanding an […]

By Hannah Lang, Tatiana Bautzer, Pete Schroeder and Ann Saphir WASHINGTON/NEW YORK (Reuters) -The former chief executive of Silicon Valley Bank defended the U.S. lender’s efforts to manage risk in his first public comments after the bank’s shock collapse, as regulators promised better supervision to prevent more such failures. The top executives at SVB and another failed lender, Signature Bank, as well regulators overseeing them appeared at separate congressional hearings […]