57 m. ago US futures slip while Asian shares gain as Fed chair Powell faces Trump legal threat

US futures experienced a dip on Monday, contrasting with gains across Asian markets, after Federal Reserve Chair Jerome Powell revealed the Department of Justice had served the central bank with subpoenas.

Politics

2 h. ago Dollar weakens after US prosecutors launch criminal investigation into Federal Reserve chair Jerome Powell – business live

Rolling coverage of the latest economic and financial newsJustice department opens investigation into Jerome Powell as Trump ramps up campaign against Federal ReserveGold has hit a new high around $4.600 an ounce; it’s up over 1.5% today, pushed up by the weaker dollar.The US dollar has dropped on the foreign exchange markets since news of the investigation into Powell hit the wires.Powell highlighted that the key issue is whether the Fed can continue setting interest rates based on economic data and evidence, or whether monetary policy will be directed by political pressure.I’m afraid we may be moving toward the second scenario. If the Fed becomes a political tool, with its chair replaced by a government puppet, that could further weaken appetite for the U.S. dollar and U.S. bonds. Continue reading...

Events

6 h. ago Fed chair Jerome Powell issues defiant response as federal prosecutors open criminal probe into central bank

Federal prosecutors in Washington have opened a criminal investigation into Federal Reserve Chair Jerome Powell over whether he misled Congress about renovation of the Fed's headquarters.

Events

7 h. ago Justice department opens investigation into Jerome Powell as Trump ramps up campaign against Federal Reserve

Fed chair accuses DoJ of threatening criminal charges over building renovation projects because central bank defied Trump’s interest rate demandsThe Department of Justice has opened a criminal investigation into Jerome Powell and the Federal Reserve, a significant escalation in Donald Trump’s extraordinary attack on the US central bank.Powell said the Department of Justice had served the Fed with grand jury subpoenas on Friday, threatening a criminal indictment related to his testimony before the Senate banking committee in June last year, regarding renovations to the Fed’s historic office buildings in Washington DC. Continue reading...

Politics

7 h. ago Republican senator says ‘independence and credibility’ of Department of Justice is in question amid Powell criminal probe

President Trump has long pressured Powell to cut the central bank’s interest rates

Politics

8 h. ago Federal prosecutors open criminal probe into Fed Chair Jerome Powell

President Trump has long pressured Powell to cut the central bank’s interest rates

Events

9 h. ago US prosecutors investigate Jay Powell over revamp of Fed headquarters

Central bank chair says probe is retaliation for refusal to bow to Trump’s demand for interest rate cuts

Events

9 h. ago US prosecutors launch criminal investigation into Fed’s Powell

Central bank chair says grand jury subpoenas are retaliation for refusal to bow to demand to cut interest rates

Events

41 h. ago Greenland Prime Minister issues defiant rebuke to Trump over island grab in scathing 48

Party leaders addressed Trump Friday, stating: 'Greenland's future must be decided by the Greenlandic people.'

Politics

69 h. ago Federal officers blocked medics from scene of ICE shooting, witnesses say

‘We have our own medics,’ bystanders were told after ICE agent fatally shot Renee Nicole Good in MinneapolisWitnesses to an Immigration and Customs Enforcement (ICE) agent fatally shooting Renee Nicole Good in Minneapolis on Wednesday say federal officers impeded the response of emergency medical personnel to the scene, blocking the road with their vehicles.Emily Heller, a witness who lives near the intersection of 34th Street and Portland Avenue, recorded the scene as it unfolded. She told NBC News that agents blocked people from approaching Good’s vehicle. Her video shows a man who identified himself as a physician asking to check for a pulse and being rebuffed. Continue reading...

Events

2 d. ago Hiring was likely modest in December to end a year of weak job growth

Hiring likely remained subdued last month as many companies have sought to avoid expanding their workforces, though the job gains may be enough to bring down the unemployment rate

Politics

8 d. ago Swiss prosecutors place bar managers under investigation after deadly fire

Suspected offences include homicide by negligence, causing bodily harm by negligence and arson by negligenceThe two managers of a bar where a blaze on New Year’s Day killed at least 40 people have been placed under criminal investigation, Swiss prosecutors said.The offences they are suspected of having committed are homicide by negligence, causing bodily harm by negligence and arson by negligence, the prosecutors’ office in the canton of Valais said in a statement on Saturday. Continue reading...

Events

1 week ago Trump says he is considering a ‘gross incompetence lawsuit’ against Fed chairman over building renovation

President threatened to allow ‘a major lawsuit against Powell to proceed’ earlier this year

Politics

1 week ago Trump says he’d ‘love to fire’ Jerome Powell in latest attack on Fed chair

Trump also repeated false claims about renovation costs for the Fed headquarters during a Monday press conferenceDonald Trump launched another attack against Federal Reserve chair Jerome Powell on Monday, calling the central banker a “fool” and once again suggesting he would like to fire him.Trump launched his latest attack on Powell during a press conference with Israel’s prime minister Benjamin Netanyahu, repeating false claims about the cost of a renovation of the central bank headquarters, and told reporters that he might file a lawsuit against Powell for “gross incompetence”. Continue reading...

Events

1 week ago "Christmas brings out the worst in some": Greater Manchester bar issues defiant message after staff met with abuse

'Be nicer and grow up'

Sport

2 w. ago US stocks rose again in 2025 after overcoming turbulence from tariffs and Trump's fight with the Fed

This was a scary good year for investors

Politics

3 w. ago Lorraine Kelly issues defiant statement days before ITV shake

Lorraine Kelly has opened up about her ITV show being cut from one hour to 30 minutes from January, as it begins to air on a seasonal basis next year.

Politics

3 w. ago ‘Am I Next?’ protest art in downtown LA boldly asks who’s safe from ICE

Public exhibition, featuring billboard-sized portraits projected onto buildings, calls attention to Trump administration’s attacks on civil libertiesEach evening, drivers on the busy 101 freeway in downtown Los Angeles pass billboard-size portraits of Angelenos that flash across the side of a building with a simple message next to their faces: Am I Next?Three Los Angeles institutions have teamed up to launch a response to federal immigration raids in the nation’s second-largest city, projecting illuminated images of everyday LA residents in support of the thousands of community members who have been detained this year. Continue reading...

Events

3 w. ago Australia launches biggest gun buyback in 30 years after Bondi beach terror attack

Prime minister announces first firearm buyback since Port Arthur massacre, and designates Sunday a national day of reflection in honour of Hanukah shooting victimsVictims of Bondi beach shootingTen minutes of terror: how the Bondi mass shooting unfolded in real time – videoFollow the latest live updatesThe federal government will launch a new gun buyback scheme in response to the Bondi beach terror attack in what Anthony Albanese says will be the biggest collection of weapons since the Port Arthur massacre nearly three decades ago.It comes as New South Wales announced a suite of gun control measures including capping the number of firearms most recreational shooters can hold at four. Continue reading...

Events

3 w. ago German prosecutors file lawsuit against Greensill bosses over role in bank’s collapse

Bremen lawyers say three unnamed people charged with crimes relating to bankruptcy and misrepresentation of bank’s financesGerman prosecutors have brought criminal charges against three people involved in running Greensill Bank for their role in the 2021 collapse of the lender.The Bremen public prosecutor’s office said the unnamed people were charged with crimes related to the bankruptcy, as well as the misrepresentation of the German bank’s finances. Continue reading...

Economics