Town Hall News

By Steve Holland WASHINGTON (Reuters) – The White House conference room where President Barack Obama and his top aides watched the raid that killed Osama bin Laden has been dismantled as part of a just-completed major renovation of the “Situation Room” complex. The $50 million refresh of the legendary space, which comprises an entire multiroom complex deep within the West Wing of the White House, included digging five feet below […]

By Brenda Goh and Ben Blanchard SHANGHAI/TAIPEI (Reuters) -China’s widening curbs on iPhone use by government staff intensified a sell-off in global tech stocks on Friday, fanning fears that Apple and its suppliers could take a hit from rising Sino-U.S. tensions and growing competition from Huawei. Apple shares tumbled 6.4% over the last two days, wiping $190 billion from its market capitalisation, following news that Beijing ordered some central government […]

By David Lawder WASHINGTON (Reuters) – The U.S. Treasury said on Friday it will provide guidance on additional clean energy tax incentives before the end of 2023, including a provision aimed at deterring companies from relying on Chinese supply chains. Lily Batchelder, the Treasury’s assistant secretary for tax policy, declined to provide reporters with specific timing for the guidance on “foreign entity of concern” rules. But she said the guidance […]

KAMPALA (Reuters) – Gay rights activists on Friday criticised a European Union announcement this week that it would not cut funding to Uganda over a harsh anti-LGBTQ law enacted in May. In a written statement to the European parliament issued on Wednesday, European Commissioner for International Partnerships Jutta Urpilainen said suspending financial aid to Uganda over the law, which prescribes the death penalty for certain same-sex acts, would deprive vulnerable […]

TAIPEI (Reuters) – Taiwan’s exports dropped for the 12th consecutive month in August but less sharply than expected, and may return to growth in September ahead of the year-end holiday shopping season, the finance ministry said on Friday. August exports dropped 7.3% in value from a year earlier to $37.36 billion, the ministry said, the smallest decline and first single-digit percentage fall since October. That compared with a 10.4% fall […]

MOSCOW (Reuters) – A presiding judge at the Moscow Arbitration Court on Friday rejected a Goldman Sachs request to dismiss a $6.3 million lawsuit by Russia’s Otkritie, which is owned by state bank VTB. A lawyer for Goldman had argued on Thursday that the Moscow court had no jurisdiction and the case should instead be heard in London. Otkritie says Goldman owes the money in connection with a derivatives agreement. […]

BEIJING/SHANGHAI (Reuters) – China’s passenger vehicle sales returned to growth in August from a year earlier, as further price cuts and new tax breaks for electric vehicles and other green cars boosted consumer sentiment, despite the struggling broader economy. Buoyed by hefty discounts, Tesla’s share of China’s electric vehicle (EV) market almost doubled in August from July. Car sales jumped 2.2% in August on a yearly basis to 1.94 million […]

MOSCOW (Reuters) – A presiding judge at the Moscow Arbitration Court on Friday rejected a Goldman Sachs request to dismiss a lawsuit by Russia’s Otkritie bank. The court said it was setting the hearing in the substantive case for Oct. 5. (Reporting by Reuters; Editing by Kevin Liffey) Brought to you by www.srnnews.com

By Munsif Vengattil and Aditya Kalra NEW DELHI (Reuters) – Billionaire Mukesh Ambani’s Reliance Industries has begun exploring a foray into semiconductor manufacturing, a move that could address its supply chain needs and cater to growing chip demand in India, two people familiar with its strategy said. The telecoms-to-energy conglomerate, encouraged by the Indian government, has held early-stage talks with foreign chipmakers that have the potential to become technology partners, […]