Town Hall News

By Nell Mackenzie, Xie Yu and Scott Murdoch LONDON (Reuters) – Distressed debt investors and large hedge funds are buying up Credit Suisse additional tier-1 bonds at rock-bottom prices after they were written down to zero in the Swiss bank’s rescue by cross-town rival UBS. Under the UBS deal, the Swiss regulator determined that Credit Suisse’s AT1 bonds with a notional value of 16 billion Swiss francs ($17.35 billion) would […]

By Alan Devall LOS ANGELES (Reuters) -Some 30,000 education workers backed by the teachers’ union walked off the job for a three-day strike in Los Angeles on Tuesday, canceling school for nearly half a million students in the second-largest school district in the United States. The Service Employees International Union Local 99 seeks to increase what it calls poverty wages averaging $25,000 per year for many of their members including […]

By Wayne Cole SYDNEY (Reuters) – Asian shares staged a cautious bounce on Wednesday with hopes a global banking crisis would be averted vying with uncertainty over the outlook for U.S. interest rates as the Federal Reserve holds a high-stakes meeting on policy. Efforts by U.S. Treasury Secretary Janet Yellen to calm nerves seemed to be working with bank shares rallying overnight. Government officials were also pondering increasing the limit […]

By Alan Devall LOS ANGELES (Reuters) -Some 30,000 education workers backed by the teachers’ union walked off the job for a three-day strike in Los Angeles on Tuesday, canceling school for nearly half a million students in the second-largest school district in the United States. The Service Employees International Union Local 99 seeks to increase what it calls poverty wages averaging $25,000 per year for many of their members including […]

SYDNEY (Reuters) – Reigning champions the Canterbury Crusaders have been hit by injuries to totemic lock Sam Whitelock and prolific winger Sevu Reece ahead of Friday’s Super Rugby Pacific clash with the unbeaten ACT Brumbies. Scott Robertson, who was announced as the next All Blacks coach on Tuesday, was already without injured test players David Havili, Jack Goodhue, Will Jordan and Cullen Grace for the Christchurch meeting with the Canberra-based […]

By Andrea Shalal and Rodrigo Campos WASHINGTON (Reuters) -The International Monetary Fund said on Tuesday it had reached a staff-level agreement with Ukraine for a four-year financing package worth about $15.6 billion, offering funds the country needs as it continues to defend against Russia’s invasion. The agreement, which must still be ratified by the IMF’s board, takes into consideration Ukraine’s path to accession to the European Union after the war. […]

By Ankur Banerjee SINGAPORE (Reuters) – The dollar was pinned near five-week lows on Wednesday ahead of the conclusion of the U.S. Federal Reserve’s policy meeting, with investors awaiting clarity on the path the central bank is likely to take in the wake of global banking turmoil. Investor attention is zeroed in on whether the Fed will stick to its hawkish path to fight sticky inflation or pause interest rate […]

By Andrea Shalal and Rodrigo Campos WASHINGTON (Reuters) -The International Monetary Fund said on Tuesday it had reached a staff-level agreement with Ukraine for a four-year financing package worth about $15.6 billion, offering funds the country needs as it continues to defend against Russia’s invasion. The agreement, which must still be ratified by the IMF’s board, takes into consideration Ukraine’s path to accession to the European Union after the war. […]

By Upasana Singh and Navya Mittal (Reuters) – Fintech firm Latitude Group Holdings said on Wednesday it has found further evidence of large-scale information theft affecting former and current customers across Australia and New Zealand, sending its shares to an all-time low. Latitude said it was attempting to identify the number of customers affected and the type of personal information stolen by the hacker. Shares of the Melbourne-based company, which […]