Town Hall News

OTTAWA (Reuters) -Automaker Stellantis has stopped all construction at a more-than C$5 billion ($3.74 billion) electric vehicles battery manufacturing plan in Windsor, Canada, over a disagreement with the federal government about subsidies, a spokesperson for the company said on Monday. “Effective immediately, all construction related to the battery module production on the Windsor site has stopped,” the spokesperson said. A spokesperson for Canada’s Innovation Minister Francois-Philippe Champagne did not immediately respond […]

By Jonathan Stempel NEW YORK (Reuters) -A federal appeals court on Monday rejected Elon Musk’s bid to modify or end his 2018 securities fraud settlement with the U.S. Securities and Exchange Commission that required a Tesla Inc lawyer to approve some of his tweets in advance. The 2nd U.S. Circuit Court of Appeals in Manhattan rejected Musk’s claim that the SEC exploited his consent decree to conduct bad-faith, harassing investigations […]

By Maki Shiraki and Makiko Yamazaki TOKYO (Reuters) – Kioxia Holdings Corp and Western Digital Corp are speeding up merger talks and nailing down a deal structure, two sources with direct knowledge of the matter said, as a slumping flash memory market puts fresh consolidation pressure on the world’s No. 2 and No. 4 players. Japan’s Kioxia and U.S. chipmaker Western Digital have been hit hard by plunging market demand […]

ROME (Reuters) – Italy on Monday earmarked 30 million euros ($33 million) to improve the skills of unemployed people as well as those workers whose jobs could be most at risk from the advance of automation and artificial intelligence. According to the Fondo per la Repubblica Digitale (FRD), set up in 2021 by the Rome government to boost the digital skills of Italians, 54% of those aged 16-74 lack basic […]

By Stephen Culp NEW YORK (Reuters) -U.S. stocks searched for direction and benchmark Treasury yields rose as wavering optimism over a debt ceiling deal from Washington was overshadowed by a dour regional manufacturing report. Futures suggested all three major stock indexes were primed for gains, but those gains quickly lost momentum after the opening bell, hot on the heels of a steeper-than-expected contraction in New York State manufacturing data. With […]

By Foo Yun Chee BRUSSELS (Reuters) – Microsoft has won EU antitrust approval for its $69 billion Activision takeover, which was vetoed by Britain, after regulators said its offer of free 10-year licensing deals to gamers and cloud streaming rivals addressed their concerns. The European Commission said on Monday that the biggest-ever deal in gaming was pro-competitive due to Microsoft’s licensing deals, confirming a Reuters report in March. Such licenses […]

(Reuters) – Shares of U.S. regional lenders gained on Monday led by a rebound in PacWest Bancorp, as investors tried to look past the crisis of confidence brought on by the collapse of three banks in a span of two months. PacWest rose 8.4%, while Western Alliance Bancorp, Fifth Third Bancorp, Comerica Inc and KeyCorp were up between 2% and 6%. The KBW Regional Banking Index, which had lost 13.7% […]

By Gabrielle Tétrault-Farber and Emma Farge GENEVA (Reuters) -Former White House advisor Amy Pope won a vote in Geneva on Monday to head the U.N. migration agency, prevailing in a tense contest against a Portuguese incumbent who had the support of European countries. The International Organization for Migration (IOM) said Pope would become the first woman to lead the organization when she begins her five-year term on Oct. 1. Pope, […]

(Reuters) – Shares of U.S. regional lenders gained on Monday led by a rebound in PacWest Bancorp, as investors tried to look past the crisis of confidence brought on by the collapse of three banks in a span of two months. PacWest rose 8.4%, while Western Alliance Bancorp, Fifth Third Bancorp, Comerica Inc and KeyCorp were up between 2% and 6%. The KBW Regional Banking Index, which had lost 13.7% […]