Town Hall News

(Reuters) -Nike Inc beat estimates for third-quarter revenue and profit on Tuesday, boosted by strong demand for its sneakers as consumers snapped up newer franchise launches and classic styles such as Jordan Retro in North America and Europe. The company has benefited from higher sales of its franchises such as LeBron helping grow its market share, while rival Adidas struggles with its split with Kanye West and the German company […]

By Koh Gui Qing NEW YORK (Reuters) -Global shares leapt on Tuesday after the rescue of Credit Suisse stemmed a rout in equities and whetted risk appetite, although financial system uncertainties limited buying as investors awaited the outcome of a Federal Reserve meeting. The Fed began a two-day meeting earlier on Tuesday and, after a wild few sessions, investors are divided about whether the central bank will raise interest rates […]

By Brendan O’Brien and Brad Brooks (Reuters) -Virginia sheriff deputies and medical staffers wrestled with a handcuffed Irvo Otieno, a 28-year-old Black man, for several minutes at a state mental hospital before he died, video surveillance obtained by the Washington Post shows. The altercation took place on March 6 as Otieno was being admitted to Central State Hospital in Petersburg, Virginia, according to Dinwiddie County Commonwealth Attorney Ann Cabell Baskervill. […]

By Jason Lange WASHINGTON (Reuters) – About half of Americans believe a New York investigation into whether Donald Trump paid hush money to a porn star is politically motivated, but a large majority find the allegations believable, a Reuters/Ipsos opinion poll found. The two-day poll, concluded on Tuesday, found 54% of respondents – including 80% of the former president’s fellow Republicans and 32% of Democrats – said politics was driving […]

By Koh Gui Qing NEW YORK (Reuters) -Global shares leapt on Tuesday after the rescue of Credit Suisse stemmed a rout in equities and whetted risk appetite, although financial system uncertainties limited buying as investors awaited the outcome of a Federal Reserve meeting. The Fed began a two-day meeting earlier on Tuesday and, after a wild few sessions, investors are divided about whether the central bank will raise interest rates […]

By Hannah Lang and Pete Schroeder (Reuters) – In the United States and many other countries, the government guarantees a certain amount of each customer’s deposits in the event of a bank failure, to protect both consumers and the broader financial system. With the collapse of Silicon Valley Bank and Signature Bank and the U.S. government backstopping all deposits at those firms, here is the state of play of deposit […]

By Jody Godoy (Reuters) – A federal judge has ruled that shareholders suing chip maker Qualcomm Inc for allegedly hiding anticompetitive sales and licensing practices may bring their claims as a class action. The lawsuit filed in San Diego, California, alleges Qualcomm and its executives repeatedly described its businesses of selling chips and licensing its technology to other companies as separate, when in fact the company bundled them in a […]

By Moira Warburton WASHINGTON (Reuters) – The U.S. Senate Banking Committee will hold the first of several hearings on the collapse of Silicon Valley Bank and Signature Bank on March 28, Democratic Chairman Sherrod Brown said on Tuesday. The first hearing will hear from witnesses including Federal Deposit Insurance Corporation Chair Martin Gruenberg, Federal Reserve official Michael Barr, and Nellie Liang, an under secretary at the U.S. Treasury Department, according […]

By Jonathan Stempel (Reuters) – A new lawsuit accuses Mark Zuckerberg and other Meta Platforms Inc executives and directors of failing to do enough to stop sex trafficking and child sexual exploitation on Facebook and Instagram. The complaint made public late Monday by several pension and investment funds that own Meta stock said Meta’s leadership and board have failed to protect the company’s and shareholders’ interests by turning a blind […]