Town Hall News

By Martin Coulter and Supantha Mukherjee LONDON/STOCKHOLM (Reuters) – As the race to develop more powerful artificial intelligence services like ChatGPT accelerates, some regulators are relying on old laws to control a technology that could upend the way societies and businesses operate. The European Union is at the forefront of drafting new AI rules that could set the global benchmark to address privacy and safety concerns that have arisen with […]

(Reuters) -Credit Suisse AG staff are preparing to sue the Swiss financial regulator over $400 million of bonuses that were canceled after the troubled lender’s rescue by UBS Group AG, the Financial Times reported on Monday. Quinn Emanuel and Pallas, law firms which are already suing Swiss regulator Finma on behalf of investors who owned AT1 bonds, have received multiple requests from senior managers at Credit Suisse to take legal […]

By Davide Barbuscia and Pete Schroeder NEW YORK/WASHINGTON (Reuters) – As talks over raising the U.S. government’s $31.4 trillion debt ceiling go down to the wire, Wall Street banks and asset managers have been preparing for the fallout from a potential default. The financial industry has prepared for such a crisis before, most recently in September 2021. But this time, the relatively short time frame for reaching a compromise has […]

MELBOURNE (Reuters) -Australia has won the backing of the United States for development of its critical minerals industry after the two countries reached an agreement to coordinate polices and investment to support the industry’s growth. Australia supplies around half of the world’s lithium as well as other minerals like rare earths used in batteries for electric cars and defence amid a global push to diversify supply chains away from dominant […]

SYDNEY (Reuters) – Australia said on Monday the government will take further steps in response to the leak of government tax plans by accounting firm PricewaterhouseCoopers (PwC) and that the matter could be referred to the Australian Federal Police. The government, a PwC Australia client, has accused the firm of sharing confidential information about new anti-tax avoidance measures with its corporate customers to win more business in what it has […]

A look at the day ahead in European and global markets from Kevin Buckland You didn’t think it would be that easy, did you? Investors are on edge after equities and the dollar got knocked back Friday, when Republican negotiators unexpectedly walked out of debt ceiling talks. Discussions now seem to be back on track, with President Joe Biden due to meet House Republican Speaker Kevin McCarthy later today. But […]

ROME (Reuters) – Daniil Medvedev rose to number two in the world rankings ahead of the French Open by capturing the Rome title on Sunday and the Russian said his unexpected win on clay counts as one of his most special triumphs. Heading into Rome, Medvedev had won 18 of his 19 titles – including the 2021 U.S. Open – on hardcourts, with his Mallorca Open victory on grass the […]

(Reuters) – Former India captain Virat Kohli said he feels at the top of his game and is playing the best Twenty20 cricket of his career after scoring a record seventh century in the Indian Premier League (IPL) on Sunday. Opener Kohli scored an unbeaten 101 off 61 balls for Royal Challengers Bangalore, smashing 13 fours and a six during his innings, though it was not enough to guide his […]

SEOUL/SHANGHAI (Reuters) -Several Chinese and South Korean chipmaker stocks rallied on Monday after Beijing barred U.S. firm Micron Technology from selling memory chips to key domestic industries over security concerns, reviving Sino-U.S. trade tensions. China’s cyberspace regulator said late on Sunday that Micron had failed its network security review and that it would block operators of key infrastructure from buying from the company. It neither provided details on what risks […]