Town Hall News

By Niket Nishant (Reuters) – PacWest Bancorp said on Thursday deposits declined last week and the bank pledged more assets as collateral to the U.S. Federal Reserve to increase its borrowing capacity, sending shares tumbling 20% in premarket trading. The slump dragged down other regional banks, with shares of Western Alliance Bancorp, KeyCorp and Zions Bancorp down between 2.4% and 8%. PacWest pledged an additional $5.1 billion of its loans […]

By Ece Toksabay and Birsen Altayli ANKARA (Reuters) -The man challenging Tayyip Erdogan in Turkey’s presidential elections this weekend received a boost on Thursday when a small party candidate abruptly withdrew and a closely-watched poll gave him a more than five percentage point advantage. The withdrawal by Muharrem Ince, one of four contesting Sunday’s presidential vote, could reshape the last days of campaigning in what is seen as Erdogan’s biggest […]

BERLIN (Reuters) – Multiple police officers and firefighters were injured in an explosion at an apartment building in the western German town of Ratingen on Thursday, said police. Police and firefighters were called to aid a helpless person, and when they arrived, there was an explosion at the door to the apartment, said a police spokesperson. It was unclear what led to the explosion, said police. Broadcaster ZDF reported that […]

STOCKHOLM (Reuters) – Swedish electric vehicle (EV) maker Polestar said on Thursday it had lowered its 2023 production guidance and would cut headcount by 10%, citing a delayed production start for its Polestar 3 and a challenging environment for the industry. The auto maker said it now expected volumes to be between 60,000-70,000 cars this year, versus the 80,000 it had previously predicted. It has been a tough quarter for […]

By Michael Church DOHA (Reuters) – Holders and hosts Qatar will take on China, Tajikistan and Lebanon in the group stages of the Asian Cup finals in January after the draw was conducted in Doha on Thursday. Qatar, who won the title for the first time when the tournament was held in the United Arab Emirates in 2019, will open their defence on Jan. 12 against the Lebanese in Group […]

By Michael Church DOHA (Reuters) – Holders and hosts Qatar will take on China, Tajikistan and Lebanon in the group stages of the Asian Cup finals in January after the draw was conducted in Doha on Thursday. Qatar, who won the title for the first time when the tournament was held in the United Arab Emirates in 2019, will open their defence on Jan. 12 against the Lebanese in Group […]

OSLO (Reuters) – Norway on Thursday took over the chairmanship of the Arctic Council from Russia despite a freeze in cooperation between the Western Arctic states and Moscow on the regional polar body due to the invasion of Ukraine. Norway offered to organise a meeting of the Arctic Council in 2025, the statement said, a significant move because all members participate in meetings, meaning that Russia would also be invited. […]

By Shadia Nasralla LONDON (Reuters) -Oil prices erased earlier gains on Thursday during U.S. trading hours as a political standoff about the U.S. debt ceiling overshadowed a G7 finance leaders’ meeting, raising jitters about a possible recession in the world’s biggest oil consumer. Brent crude was down 27 cents, or 0.4%, to $76.14 a barrel at 1200 GMT, while U.S. crude futures dipped 29 cents, or 0.4%, to $72.27. Both […]

By Shreyashi Sanyal and Shristi Achar A (Reuters) – Dow futures came under pressure from a drop in shares of Disney after the company reported a decline in subscriber growth, while investors awaited more evidence to see if inflation was cooling. Data on Wednesday showed consumer prices in April slowed slightly from a year earlier, raising hopes that the Federal Reserve could pause its rate-hike campaign. Market participants will now […]