Town Hall News

By Byron Kaye and Praveen Menon SYDNEY (Reuters) – When David McMillan stole A$5,000 from his dying father’s small business last year, he knew it was time to kick a gambling habit that had consumed his life since he started emptying paycheques into slot machines at 17. “It wasn’t an intentional thing, but before I knew it there was no money left,” said the 33-year-old air conditioning technician from Sydney, […]

By Ankur Banerjee SINGAPORE (Reuters) – Asian shares inched higher on Thursday after the Federal Reserve hinted it could pause interest rate hikes 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 recast its outlook to a more cautious stance as a result of the banking stress. MSCI’s […]

(Reuters) -Canada’s Bianca Andreescu beat Britain’s Emma Raducanu 6-3 3-6 6-2 at the Miami Open on Wednesday in a first-round clash of former U.S. Open champions looking to recapture top form after a spate of injuries. Andreescu, coming off a third-round loss to world number one Iga Swiatek at Indian Wells, served seven aces and saved 11 of the 12 break points she faced against Raducanu to set up a […]

(Refiles to insert dropped word turmoil in paragraph 1) By Lananh Nguyen and Saeed Azhar (Reuters) – Citigroup Inc CEO Jane Fraser on Wednesday expressed confidence in U.S. banks after a series of closures rattled investors and fueled turmoil in global financial markets. “The banking system is pretty sound,” and large and regional banks are well-capitalized, Fraser told the Economic Club of Washington D.C. on Wednesday. “This is not a […]

(Refiles to insert dropped word turmoil in paragraph 1) By Lananh Nguyen and Saeed Azhar (Reuters) -Citigroup Inc CEO Jane Fraser on Wednesday expressed confidence in U.S. banks after a series of closures rattled investors and fueled turmoil in global financial markets. “The banking system is pretty sound,” and large and regional banks are well-capitalized, Fraser told the Economic Club of Washington D.C. on Wednesday. “This is not a credit […]

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 Lananh Nguyen and Saeed Azhar (Reuters) -Citigroup Inc CEO Jane Fraser on Wednesday expressed confidence in U.S. banks after a series of closures rattled investors and fueled in global financial markets. “The banking system is pretty sound,” and large and regional banks are well-capitalized, Fraser told the Economic Club of Washington D.C. on Wednesday. “This is not a credit crisis. This is a situation where it’s a few banks […]

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 Marcela Ayres BRASILIA (Reuters) -Brazil’s central bank cited rising inflation expectations as it kept interest rates unchanged for the fifth consecutive policy meeting on Wednesday, drawing concern from the government and weakening bets of imminent monetary easing. The bank’s rate-setting committee, known as Copom, maintained its Selic benchmark interest rate at 13.75%. The decision, which defied intense pressure from the new government of President Luiz Inacio Lula da Silva […]