Town Hall News

BENGALURU (Reuters) – The Reserve Bank of India said on Friday it imposed a penalty of 30.7 million rupees ($374,770) on Amazon Pay Private Ltd for non-compliance with directions on prepaid payment instruments and Know Your Customer (KYC) rules. “This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the entity with its customers,” […]

By Sinéad Carew NEW YORK (Reuters) -U.S. bank stocks have been attempting a comeback so-far this year after a more than 20% fall in 2022, fueled by hopes that the Federal Reserve will succeed in taming inflation without causing an economic catastrophe. The S&P 500 bank subsector is up 4.9% so far in 2023 slightly ahead of the benchmark S&P 500’s 3.3% gain. But some investors are circumspect as banks […]

By Saurabh Sharma NEW DELHI (Reuters) -Indian police on Friday arrested three senior employees of a pharmaceutical company whose cough syrups were linked to the deaths of 19 children in Uzbekistan, a police officer told Reuters. The arrests came after tests by an Indian government laboratory found 22 drug samples of Marion Biotech Pvt Ltd, based near New Delhi, “adulterated and spurious”, according to a police document seen by Reuters. […]

(Reuters) – Global equity funds suffered their biggest weekly net selling in two months in the seven days to March 1 as global stocks fell after strong U.S. economic data stoked fears about further rises in interest rates. The MSCI’s All-World index of global shares dipped 2.64% last week to record its worst week since Sept. 23 on worries about Federal Reserve rate hikes as data showed robust U.S. personal […]

By Amy-Jo Crowley and Pablo Mayo Cerqueiro LONDON (Reuters) – European buyout houses Montagu Private Equity and Astorg Partners are preparing to hang the “for sale” sign on their UK insurance software investments, hoping to woo insurers and fellow private capital funds with their technology. Montagu is exploring a sale of Open GI, which offers software for insurance brokers to run their operations, in a deal likely to be worth […]

By David Carnevali, Milana Vinn and Anirban Sen (Reuters) – Measurement equipment maker National Instruments Corp has decided that Fortive Corp and Keysight Technologies Inc have the potential to top Emerson Electric Co’s $7 billion bid for the company, three people familiar with the matter said. National Instruments this week informed Emerson, Fortive and Keysight — which are all providers of automation solutions facilitating manufacturing in various industries — that […]

(Reuters) – Richard “Alex” Murdaugh, the South Carolina lawyer found guilty of killing his wife and son in a grisly and complex case that has garnered international attention, faces 30 years to life in prison when he is sentenced by a judge on Friday. On Thursday a South Carolina jury declared Murdaugh, 54, guilty on two counts of gunning down his wife Maggie, 52, and youngest son, Paul, 22 on […]

By Ilona Wissenbach and Joanna Plucinska (Reuters) – Germany’s Lufthansa on Friday delivered an “unprecedented” turnaround as it swung to a 1.51 billion euro profit in 2022 and expects a significant improvement in earnings this year, pushing its shares up to a three-year high as air travel rebounds. Passenger numbers more than doubled and net revenue almost doubled from 2021, although the figures remain short of pre-pandemic levels. “Lufthansa is […]

BUCHAREST (Reuters) – The European Union’s top court will hear a case brought by a British-Romanian transgender man against Romanian authorities over their refusal to recognize his gender identity, Romanian LGBTQ rights organisation ACCEPT said on Friday. The case, which raises questions about free movement and citizenship rights under EU law, was first raised in a Romanian court in 2021 and has now been referred to the European Union Court […]