Town Hall News

By Mariko Katsumura, Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) – The investment firm managing nearly $1.5 billion of assets for members of Nintendo’s founding family is willing to play a long game when it comes to portfolio companies and can wait more than a decade to see a turnaround, a top executive said. That timeline helps explain why Yamauchi-No.10 Family Office shows no sign of relenting nearly a year […]

By Ilona Wissenbach and Joanna Plucinska (Reuters) -Germany’s Lufthansa on Friday said it delivered a “clearly positive result” for 2022 and expects a significant improvement in earnings this year as air travel recovers from COVID restrictions. Passenger numbers doubled and net revenue almost doubled from that achieved in 2021, although the figures remain short of pre-pandemic levels. “Lufthansa is back,” CEO Carsten Spohr said in a statement. “In just one […]

FRANKFURT (Reuters) – Mercedes-Benz laid the foundation stone for a sustainable battery recycling factory in Kuppenheim, southern Germany on Friday. The pilot plant will have an annual capacity of 2500 tonnes and will contribute to the production of more than 50,000 battery modules for new electric Mercedes-Benz vehicles. Recycled batteries will come from test vehicles and start-up batteries. Based on the pilot’s success, production volumes could be scaled up in […]

By Ilona Wissenbach and Joanna Plucinska (Reuters) -Germany’s Lufthansa on Friday said it delivered a “clearly positive result” for 2022 and expects a significant improvement in earnings this year as air travel recovers from COVID restrictions. Passenger numbers doubled and net revenue almost doubled from that achieved in 2021, although the figures remain short of pre-pandemic levels. “Lufthansa is back,” CEO Carsten Spohr said in a statement. “In just one […]

ROME (Reuters) – Rosalia Messina Denaro, the sister of Italy’s recently jailed top mafioso, was arrested on Friday on charges of associating with a mafia organisation, Italian police said. Matteo Messina Denaro was Italy’s most wanted man until his arrest on Jan. 16, after 30 years on the run. He was sentenced to multiple life terms after being convicted of a long list of murders and other crimes. His sister’s […]

BEIJING (Reuters) – The National Committee of the Chinese People’s Political Consultative Conference (CPPCC), the country’s top political advisory body, will end on March 11, the conference’s spokesperson told a news conference on Friday. The CPPCC meeting will kick off on March 4 and last a total of 7.5 days. (Reporting by Beijing newsroom; editing by John Stonestreet) Brought to you by www.srnnews.com

By Sudip Kar-Gupta (Reuters) -Morgan Stanley and two other investment banks have revised their forecasts for the European Central Bank’s terminal rate – the level at which its key interest rate will peak – to 4% as inflationary pressures weigh. Data this week showed a surprise surge in underlying inflation across the 20-nation euro zone. The revisions also come on the heels of remarks by ECB governing council member and […]

(Reuters) – Yevgeny Prigozhin, founder of Russia’s Wagner mercenary force, said in a video published on Friday that the Ukrainian city of Bakhmut was “practically surrounded” by his forces and that Kyiv’s forces had only one road left out. Prigozhin’s men have spearheaded the assault in eastern Ukraine for months with Moscow regarding Bakhmut, which it calls by its Soviet-era name of Artyomovsk, as a useful stepping stone to seize […]

(Changes to read “between” (not “attended by”), paragraph 2) By Jessie Pang and Joyce Zhou (Reuters) -Hong Kong’s Greater Bay Airlines (GBA) announced on Friday an order for 15 Boeing 737-9 airplanes, according to a company statement, with these planes to be gradually added to GBA’s fleet between 2024 and 2027. The statement was issued ahead of a signing ceremony in Hong Kong attended by Stan Deal, president and CEO […]