Town Hall News

By Kannaki Deka (Reuters) -Carvana Co’s shares soared as much as 55% on Friday after the struggling online used-car retailer’s surprise second-quarter profit forecast caught bearish investors on the wrong foot. Carvana endured a turbulent 2022 as the company struggled to offload used cars purchased at higher prices during the pandemic due to weak demand over affordability concerns. Short positions in Carvana were at $488 million, with short sellers estimated […]

LONDON (Reuters) – Britain’s King Charles and his son Prince William greeted wellwishers outside Buckingham Palace in central London on Friday, a day before Charles’ formal coronation ceremony. Charles left the palace gates in his royal car before stopping halfway down the Mall, where royal fans have been camped out ahead of Saturday’s ceremony, and shaking hands with smiling and cheering spectators. William was accompanied by his wife Kate. (Reporting […]

TORONTO (Reuters) – Canada’s economy gained a net 41,400 jobs in April, entirely in part-time work and ahead of analyst forecasts, Statistics Canada data showed on Friday. The jobless rate held at 5.0%, beating forecasts it would rise to 5.1%. Employment in the goods producing sector grew by a net 6,300 jobs, largely in construction. The services sector was up by a net 35,200 positions, mostly in wholesale and retail […]

TORONTO (Reuters) – Canada’s economy gained a net 41,400 jobs in April, entirely in part-time work and ahead of analyst forecasts, Statistics Canada data showed on Friday. The jobless rate held at 5.0%, beating forecasts it would rise to 5.1%. Employment in the goods producing sector grew by a net 6,300 jobs, largely in construction. The services sector was up by a net 35,200 positions, mostly in wholesale and retail […]

By Sourasis Bose (Reuters) -U.S. refiner PBF Energy Inc beat estimates for first-quarter profit on Friday, aided by higher margins, and boosted its share buyback authorization to $1 billion. The company’s shares gained nearly 6% in premarket trading. Refining margins have risen after pandemic-related closures and subsequent declines in fuel inventories raised demand for refined products. Western sanctions on Russia also crimped global supplies at a time when fuel demand […]

By Felix Light and Caleb Davis (Reuters) -Russia’s main mercenary group announced plans on Friday to pull out of the eastern Ukrainian city of Bakhmut, but Ukraine said the mercenaries were reinforcing their positions to try to seize it before Russia marks victory in World War Two day next week. Wagner Group leader Yevgeny Prigozhin said his men had been starved of ammunition and would expect the army to take […]

NEW YORK (Reuters) – U.S. employers boosted hiring in April while raising wages for workers, pointing to sustained labor market strength that could see the Federal Reserve keeping interest rates higher for some time. Nonfarm payrolls rose by 253,000 jobs, the Labor Department’s employment report showed on Friday, while March was revised lower to 165,000 jobs added from 236,000. Economists polled by Reuters had forecast payrolls rising by 180,000. The […]

(Reuters) – Liverpool forward Mohamed Salah will become the highest scoring Egyptian of all time if he scores against Brentford in the Premier League at Anfield on Saturday. Salah has netted 313 goals in a stellar career for club and country, equalling former Egypt captain Hossam Hassan’s record with a penalty in Liverpool’s 1-0 win over Fulham on Wednesday. Salah has scored 185 times for Liverpool since joining the Merseyside […]

(Reuters) -FibroGen Inc said on Friday its anemia drug had failed to meet the main goal in a late-stage trial, sending its shares tumbling nearly 12% before the bell. The miss is the latest setback for the company whose application seeking approval for the drug to treat anemia in kidney disease patients was rejected by the U.S. Food and Drug Administration in 2021 seeking additional data. The drug was being […]