Town Hall News

(changes digital headline only) By Engen Tham, Julie Zhu, Clare Jim SHANGHAI/HONG KONG -In the beginning, Hui Ka Yan followed a simple formula. Borrow to buy land. Sell homes on the site before they are built. Use the cash to pay lenders and finance the next real estate project. For two decades, starting in the mid-1990s, this approach was enormously lucrative as Chinese home prices soared. It transformed Hui, a […]

By Patrick Wingrove (Reuters) – Two U.S. senators are demanding that the nation’s three largest insulin makers, Novo Nordisk, Eli Lilly, and Sanofi, provide details by Sept. 15 of their programs to help Americans get their insulin for $35 a month or less. Democratic Senators Maggie Hassan and Tina Smith sent a letter asking the drugmakers for information on eligibility criteria for the programs, including whether a patient’s insurance status […]

By Carien du Plessis and Bhargav Acharya JOHANNESBURG (Reuters) – More than 70 people were killed overnight when fire raged through a five-storey apartment block in a poor area of Johannesburg, officials said on Thursday, adding that some of the victims may have been renting rooms there from criminal gangs. At noon, the munipical-owned building was still smouldering, a large part of it blackened by soot, as emergency services gathered […]

(Reuters) – Dollar General cut its annual same-store sales forecast on Thursday as it expects customers to remain under pressure from still-high inflation and pull back on discretionary spending. The discount retailer now expects fiscal 2023 same-store sales in the range of a 1% decline to 1% growth, compared with its prior outlook of an increase of 1% to 2%. Analysts on average were expecting a growth of 1.45%, according […]

(Reuters) -Sage Therapeutics said on Thursday it plans to lay off about 188 people, or about 40% of its workforce, weeks after the U.S. health regulator declined to approve its drug to treat major depressive disorder. The U.S. Food and Drug Administration (FDA) in early August approved the company and partner Biogen’s pill for postpartum depression (PDD), but rejected it as a treatment for clinical depression, which is a much […]

By Panarat Thepgumpanat and Chayut Setboonsarng BANGKOK (Reuters) – Thailand’s former premier Thaksin Shinawatra has submitted a request for a royal pardon, outgoing Justice Minister Wissanu Krea-ngam said on Thursday, his latest move in a long-running power struggle with the country’s establishment. Thaksin, Thailand’s most famous politician, made a dramatic homecoming last week after 15 years abroad where he lived in self-exile to avoid prison. Thaksin arrived on a private […]

HONG KONG (Reuters) – Chinese state-backed property developer China Vanke said its profit would be under pressure in the short term amid a market correction, but that would not hurt its cashflow. China’s real estate market, which accounts for roughly a quarter of the world’s second biggest economy, is grappling with a debt crisis that has rattled global markets and sparked fears of financial system contagion at a time when […]

By Panarat Thepgumpanat and Chayut Setboonsarng BANGKOK (Reuters) – Thailand’s former premier Thaksin Shinawatra has submitted a request for a royal pardon, outgoing Justice Minister Wissanu Krea-ngam said on Thursday, his latest move in a long-running power struggle with the country’s establishment. Thaksin, Thailand’s most famous politician, made a dramatic homecoming last week after 15 years abroad where he lived in self-exile to avoid prison. Thaksin arrived on a private […]

By Marco Bello and Maria Alejandra Cardona PERRY, Florida (Reuters) – Hurricane Idalia plowed into Florida’s Gulf Coast on Wednesday with howling winds, torrential rains and pounding surf, then weakened as it turned its fury on southeastern Georgia, where floodwaters trapped some residents in their homes. Hours after Idalia slammed ashore as a powerful Category 3 hurricane at Keaton Beach in Florida’s Big Bend region, packing winds of about 125 […]