Town Hall News

BEIJING (Reuters) -China’s military said on Thursday it had monitored and driven away a U.S. destroyer that illegally entered waters around the Paracel Islands in the South China Sea. In a statement, the military said that the guided-missile destroyer USS Milius intruded into China’s territorial waters, undermining peace and stability in the busy waterway. “The theater forces will maintain a high state of alert at all times and take all […]

By Ankur Banerjee SINGAPORE (Reuters) – Asian shares spiked on Thursday and the dollar slid after the U.S. Federal Reserve hinted it could pause interest rate rises following turmoil in the banking sector, though it also reiterated its commitment to fighting sticky inflation. In a widely expected move, the Fed raised interest rates by 25 basis points, but it recast its outlook to a more cautious stance as a result […]

By Xie Yu, Clare Jim and Samuel Shen HONG KONG (Reuters) -China Evergrande Group’s debt restructuring proposal, a test of investor sentiment towards the battered property sector, failed to impress because of its long repayment period and lack of enough sweeteners, creditors and analysts said. Evergrande is the world’s most indebted developer with around $300 billion in liabilities. Its debt restructuring, the country’s biggest such exercise, is aimed at saving […]

ZURICH (Reuters) – Switzerland’s financial market regulator FINMA on Thursday gave more information to explain the complete write-down of AT1 bonds issued by Credit Suisse after the bank’s rescue. FINMA has instructed Credit Suisse to completely write down its AT1 instruments and to inform the bondholders concerned without delay. “The AT1 instruments issued by Credit Suisse contractually provide that they will be completely written down in a ‘viability event’, in […]

BEIJING (Reuters) -China’s military said on Thursday it had monitored and driven away a U.S. destroyer that illegally entered waters around the Paracel Islands in the South China Sea. In a statement, the military said that the guided-missile destroyer USS Milius intruded into China’s territorial waters, undermining peace and stability in the busy waterway. “The theater forces will maintain a high state of alert at all times and take all […]

By Ludwig Burger and Juby Babu (Reuters) -Sanofi’s asthma and eczema drug Dupixent met all targets in a trial to treat “smoker’s lung”, giving a major boost to the French drugmaker’s growth prospects, but also underscoring a heavy reliance on its bestseller. In a late stage trial Dupixent, jointly developed with Regeneron, led to a 30% reduction in moderate or severe acute exacerbations of chronic obstructive pulmonary disease (COPD), a […]

(Reuters) – Russian drones attacked Ukrainian cities and missiles blasted an apartment block, but a months-long ground assault on the eastern town of Bakhmut could be stalling in the face of fierce resistance, according to Ukrainian and British military experts. FIGHTING * At least nine people died in the Russian air strikes which Ukrainian President Zelenskiy said showed Moscow was not interested in peace. * In a show of defiance, […]

By Piroschka van de Wouw AMSTERDAM (Reuters) – Badgers have dug out a home underneath a major rail line in the Netherlands, leaving tens of thousands of passengers facing delays. Train traffic has been halted, possibly for weeks, between two major southern cities, Den Bosch and Eindhoven, due to worries that the badgers’ tunnels have weakened the ground under the tracks. But the company that maintains the country’s rail network […]

By Soo-hyang Choi SEOUL (Reuters) -North Korea fired four cruise missiles off its east coast on Wednesday as its rivals South Korea and the United States held joint military exercises, the South Korean military said. The military initially reported “multiple missiles” without elaborating; South Korean Defence Minister Lee Jong-sup told parliament on Thursday that there were four. Lee added that North Korea appears to have made “substantial progress” in miniaturising […]