Town Hall News

LONDON (Reuters) – Bank of America has hired former BNP Paribas banker Benoit Nevouet to be the manager of a newly created Luxembourg branch as the U.S. lender seeks to grow its business in Europe, a senior executive at Bank of America told Reuters. The opening of a branch in the small but wealthy country will mean Bank of America can help clients such as investment funds with local bank […]

NEW DELHI (Reuters) -An Indian tribunal on Wednesday granted bankruptcy protection to Go Airlines (India) Ltd, a move that will help the country’s fourth-largest carrier attempt to revive itself but complicate foreign lessors’ efforts to repossess their planes. The low-cost carrier, recently rebranded as Go First, has said its financial crisis was sparked by “faulty” Pratt & Whitney engines that grounded about half its 54 Airbus A320neos. The U.S. engine […]

By Rae Wee SINGAPORE (Reuters) – The dollar weakened broadly on Wednesday after U.S. President Joe Biden and top lawmakers failed to break a deadlock on the debt ceiling crisis, though currency moves were marginal amid caution ahead of U.S. inflation data later in the day. Biden and House of Representatives Speaker Kevin McCarthy remained divided over raising the $31.4 trillion U.S. debt limit following talks on Tuesday, with just […]

ISLAMABAD (Reuters) -Supporters of Imran Khan were planning to march to Islamabad on Wednesday where the former Pakistan prime minister is in custody in a corruption case, raising fears of more clashes with security forces. Mobile data services in the country were shut while Twitter, YouTube and Facebook were disrupted. Television carried watered-down coverage of violence that erupted on Tuesday. Authorities in three of Pakistan’s four provinces have imposed an […]

By Aditi Shah and Aditya Kalra NEW DELHI (Reuters) – The fate of India’s fourth-largest carrier Go Airlines (India) Ltd and its 7,000 employees is set to be decided on Wednesday, in a bankruptcy plea ruling that will also have major implications for foreign lessors trying to repossess planes. The low-cost carrier, recently rebranded as Go First, has said its financial crisis was sparked by “faulty” Pratt & Whitney engines […]

By Sam Nussey and Kiyoshi Takenaka TOKYO (Reuters) – SoftBank Group Corp reports earnings on Thursday amid an uptick in some stocks held by its Vision Fund unit, and with the market thirsty for details on its upcoming listing of Arm aimed at bolstering the investment company’s balance sheet. The fourth-quarter earnings come after the Vision Fund unit posted four consecutive quarters of investment loss, with investors debating whether the […]

By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Prime Minister Justin Trudeau on Tuesday said Canada will not be intimidated by China following tit-for-tat diplomatic expulsions by Ottawa and Beijing. Ottawa expelled Chinese diplomat Zhao Wei on Monday over allegations related to foreign interference, and hours later, China asked a Canadian diplomat in Shanghai to leave by May 13 in response to what it called Ottawa’s “unreasonable actions”. “We understand […]

(Reuters) – Uber Technologies Inc has launched international and domestic flight bookings on its UK app, the Financial Times reported on Wednesday. The move is “the latest and most ambitious step” in the company’s strategy to expand its core ride-booking business, Uber’s UK General Manager Andrew Brem told FT. The San Francisco-based company, which already offers train and coach ticket bookings in the UK, has begun rolling out the new […]

COPENHAGEN (Reuters) – Drug maker Swedish Orphan Biovitrum (SOBI) said on Wednesday it had agreed to make a $1.7 billion cash offer to buy CTI BioPharma, a U.S. biopharmaceutical company focused on blood related cancers and rare diseases. SOBI said it would make a tender offer for $9.10 per CTI share, a premium of 89% over Tuesday’s closing price of $4.82. “The acquisition of CTI is the latest in a […]