Town Hall News

(Reuters) – U.S. homebuilder KB Home said on Wednesday net orders in the first two-and-a-half weeks of the ongoing second quarter fell 24% from last year, issuing a rare mid-quarter update due to the ongoing market volatility fueled by a banking crisis. The California-based company expects net orders for the second quarter, which began in March, between 3,000 and 3,700, a 14% decline when compared with the midpoint of the […]

By Howard Schneider and Ann Saphir WASHINGTON (Reuters) – Federal Reserve Chair Jerome Powell on Wednesday said banking industry stress could trigger a credit crunch with “significant” implications for an economy that U.S. central bank officials projected will slow even more this year than previously thought. Banks either hit with sudden deposit outflows or worried about them may become steadily more reluctant to lend to businesses and households, a risk […]

(Reuters) – Serbian Dusan Lajovic beat Andy Murray 6-4 7-5 at the Miami Open on Wednesday, sending the Briton packing in the first round with his first hard court win of the season. Lajovic thrust his fists to the air after surviving a 16-shot rally on the final point, setting up a meeting with American Maxime Cressy, who won their only prior encounter. Lajovic drew first blood, breaking the three-times […]

(Reuters) – British foreign minister James Cleverly on Wednesday said the country will review security at the Indian High Commission in London following “unacceptable acts of violence” towards the mission’s staff. Earlier this week, India summoned the most senior British diplomat in New Delhi to protest at the actions taken by “separatist and extremist elements” against the country’s mission in London. The BBC and Indian media reported that protesters with […]

By Tetsushi Kajimoto TOKYO (Reuters) – Big Japanese manufacturers remained pessimistic about business conditions for a third straight month in March, the closely watched Reuters Tankan survey showed, reflecting worry about slowing global growth that could hurt the country’s export engine. Service-sector firms’ mood rebounded in a sign of domestic demand-driven recovery, in which the prospects of higher wages among big firms at the spring labour talks may encourage households […]

By Dietrich Knauth (Reuters) – Bankrupt crypto exchange FTX has reached a deal to recover more than $400 million in cash from hedge fund Modulo Capital, pulling back 97% of the money that FTX companies sent to the hedge fund in 2022, according to court documents filed on Wednesday. Bahamas-based Modulo agreed to pay $404 million in cash and give up its claim to $56 million in assets held on […]

By Nandita Bose, Lananh Nguyen and Saeed Azhar NEW YORK (Reuters) -JPMorgan Chief Executive Jamie Dimon met Lael Brainard, the director of the White House National Economic Council on Wednesday, while in Washington this week, according to a person familiar with the situation. The meeting agenda was unclear. Brainard met with a range of business leaders including Dimon, part of a series of meetings she has had over the last […]

By Howard Schneider, Yoruk Bahceli and Akriti Sharma (Reuters) – The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs after the recent collapse of two U.S. banks. Fed Chair Jerome Powell sought to reassure investors about the soundness of the banking system, saying that the management of Silicon Valley Bank […]

By Howard Schneider, Yoruk Bahceli and Akriti Sharma (Reuters) -The Federal Reserve on Wednesday raised interest rates by a quarter of a percentage point, but indicated it was on the verge of pausing further increases in borrowing costs after the recent collapse of two U.S. banks. Fed Chair Jerome Powell sought to reassure investors about the soundness of the banking system, saying that the management of Silicon Valley Bank “failed […]