Town Hall News

(Reuters) – President Joe Biden plans to have a brief meeting with Canadian Prime Minister Justin Trudeau’s biggest political rival during an official visit to Canada that begins on Thursday, a senior administration official said. The official said Biden will have a “pull aside” with Conservative leader Pierre Poilievre, who was elected last year to spearhead the party’s bid to oust the Liberals and Trudeau. It’s not uncommon for a […]

(Reuters) – BHP Group on Thursday signed an agreement with an engineering and project management firm Hatch to design an electric smelting furnace pilot plant in Australia in an attempt to slash its greenhouse gas emissions to zero by 2050. The facility will help lower carbon dioxide intensity in steel production using iron ore from the global miner’s Pilbara mines. The plant will be able to produce steel from iron […]

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 […]

(Corrects Fed policy change in paragraph 6) 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 […]

(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 […]