Town Hall News

By Joey Roulette WASHINGTON (Reuters) – Billionaire Richard Branson’s cash-strapped Virgin Orbit Holdings Inc is nearing a deal for a $200-million investment from Texas-based venture capital investor Matthew Brown via a private share placement, according to a term sheet seen by Reuters. The space startup did not comment on the likely deal, but said on Wednesday it would resume operations on March 23 and prepare for its next mission by […]

(Reuters) – The Federal Aviation Administration on Wednesday issued a safety alerts to airlines, pilots and others about the “need for continued vigilance and attention to mitigation of safety risks” after a series of high-profile near misses. “While the overall numbers do not reflect an increase in incidents and occurrences, the potential severity of these events is concerning,” the FAA said. Six serious runway incursions have occurred since January that […]

By Amruta Khandekar and Shubham Batra (Reuters) – Wall Street’s main indexes edged lower on Wednesday, ahead of the outcome of the Federal Reserve’s rate-setting meeting in which the central bank will seek to balance inflation and banking sector concerns. Traders have halved the size of the expected interest rate hike to 25 basis points following troubles in the banking sector, with some pointing to the Fed’s aggressive monetary tightening […]

(Reuters) – The top U.S. markets regulator on Wednesday unveiled a proposal to abolish a set of paper-based forms and digitize disclosure requirements to modernize how broker-dealers, stock exchanges, clearing agencies and others report to the government. At a public meeting, the Securities and Exchange Commission’s five members were due to vote on the proposal, which also would allow electronic signatures and machine-readable data for some of the forms to […]

By Sam Tobin LONDON (Reuters) – Russian aluminium tycoon Oleg Deripaska on Wednesday denied lying about the relocation of EN+ Group from Jersey to Russia to avoid U.S. sanctions, as he fights his former business partner’s attempt to jail him at London’s High Court. Deripaska, founder of aluminium giant Rusal, has been locked in a dispute with former Russian finance minister Vladimir Chernukhin since 2010 over a joint venture to […]

(Reuters) -Pacific Western Bank said on Wednesday it had raised $1.4 billion from investment firm Atlas SP Partners as regional banks rush to contain the fallout of a recent collapse of two mid-sized lenders.     Shares of the bank, which have lost nearly 47% of their value so far this year, fell about 9% in early trading even as it tried to assuage investor worries by saying it had more than […]

(Reuters) -Drug developer 89Bio Inc said on Wednesday its experimental treatment for liver disease NASH met the main goals of a small mid-stage study, sending its shares 30% higher. The drug, pegozafermin, helped reduce liver scarring known as fibrosis as measured on two different scales in patients with NASH, or nonalcoholic steatohepatitis, trial data showed. NASH, which has no approved treatments, is the fastest-growing cause of liver transplants in developed […]

(Reuters) -Pacific Western Bank said on Wednesday it had raised $1.4 billion from investment firm Atlas SP Partners as regional banks rush to contain the fallout of a recent collapse of two mid-sized lenders.     Shares of the bank, which have lost nearly 47% of their value so far this year, fell about 9% in early trading even as it tried to assuage investor worries by saying it had more than […]

By Emilio Parodi MILAN (Reuters) – One of three prosecutors accusing Italian soccer club Juventus of financial misconduct has left the case after the emergence of derogatory comments he made about the team, a source with direct knowledge of the matter said on Wednesday. In a video shot at a legal conference in Milan in 2019, a year before the inquiry into top-flight Serie A club Juventus opened, Turin prosecutor […]