Town Hall News

By Svea Herbst-Bayliss (Reuters) – ValueAct Capital informed Seven & i Holdings on Friday it would lobby to remove four directors from the Japanese’s convenience store operator’s 14-member board, citing “a failed corporate strategy.” ValueAct, which owns a 4.4% stake of Seven & i, had called on the company’s management in January to spin-off of its 7-Eleven convenience store chain. In a letter reviewed by Reuters, the hedge fund said […]

By Heather Timmons and David Lawder WASHINGTON (Reuters) -For the fourth time in a week, U.S. Treasury Secretary Janet Yellen took a microphone on Thursday aiming to reassure Americans that the U.S. banking system is safe, each time with a subtle shift in message. But bankers and Wall Street never heard what they fervently wanted: That the government would guarantee all $19.2 trillion in U.S. bank deposits until the banking […]

WASHINGTON (Reuters) -The Biden administration on Thursday added 14 Chinese companies to a red flag list, forcing U.S. exporters to conduct greater due diligence before shipping goods to them because U.S. officials have been unable to inspect the listed entities. Being added to the list can potentially start a 60-day clock that could trigger much tougher penalties. “Enforcing our export controls is a crucial part of protecting American national security,” […]

By Steve Scherer and Andrea Shalal OTTAWA (Reuters) -The United States and Canada reached a deal aimed at stopping asylum seekers from entering the shared land border via unofficial crossings, though some details still need to be ironed out when the two sides meet, a Canadian government source and a U.S. official told Reuters on Thursday. The revised Safe Third Country Agreement (STCA) will be discussed on Friday at an […]

(Reuters) -Australian aged-care provider Estia Health Ltd said on Friday it received a non-binding buyout proposal from U.S. private investment firm Bain Capital for A$775.1 million ($517.77 million), sending its shares to an over 3-year high. The A$3.00 cash per share proposal, which is at a 28.2% premium to Estia’s last close, is among the latest proposals by a private equity firm since last year amid increasing merger and acquisition […]

TOKYO (Reuters) – Japan’s manufacturing activity contracted for a fifth straight month in March as output and new orders remained under pressure, a survey showed on Friday, suggesting the economic recovery is fragile as global demand slows. However, service-sector activity expanded for a seventh straight month and rose at the fastest pace in over nine years as the squeeze from the coronavirus pandemic eased. The au Jibun Bank flash Japan […]

TOKYO (Reuters) – Japan’s manufacturing activity contracted for a fifth straight month in March as output and new orders remained under pressure, a survey showed on Friday, suggesting the economic recovery is fragile as global demand slows. However, service-sector activity expanded for a seventh straight month and rose at the fastest pace in over nine years as the squeeze from the coronavirus pandemic eased. The au Jibun Bank flash Japan […]

By Takahiko Wada and Leika Kihara TOKYO (Reuters) -Japan’s core consumer inflation slowed in February but an index stripping away energy costs hit a four-decade high, data showed on Friday, suggesting cost-push pressures may persist longer than policymakers thought. With inflation still exceeding the Bank of Japan’s 2% target, the data will keep alive market expectations of a near-term tweak to its bond yield control policy, analysts say. The core […]

By Jonathan Stempel NEW YORK (Reuters) – A U.S. judge on Thursday denied Archegos Capital Management LP founder Bill Hwang’s effort to dismiss an indictment accusing him of fraud in the collapse of his once-$36 billion firm. U.S. District Judge Alvin Hellerstein in Manhattan rejected arguments that the 11-count indictment should be tossed because prosecutors deceived Hwang into cooperating with their probe and because Hwang’s trading activity had been lawful. […]