11 h. ago Trump’s war on Fed is ‘serious danger’ to world economy, says ECB head

Undermining independence of central bank will affect the US and other countries, says Christine LagardeBusiness live – latest updatesDonald Trump’s attempt to influence the US Federal Reserve could pose a “very serious danger” for the world economy, the head of the European Central Bank has warned.Christine Lagarde, the president of the ECB, said Trump undermining the independence of the world’s most powerful central bank would have an impact for the US and other countries. Continue reading...

Politics

12 h. ago Rachel Reeves admits Brits 'feel stuck' as dire poll finds nearly two

Chancellor Rachel Reeves is facing a brutal Budget reckoning this Autumn with warnings she has a black hole of up to £50billion to fill.

Politics

4 d. ago Federal Reserve Governor Lisa Cook sues Trump after he ‘fired’ her

Trump’s unprecedented move against the central bank's leadership is an effort to ‘undermine the independence of the Federal Reserve’, Cook’s lawyer said

Politics

4 d. ago Liz Truss warns there is ‘a reckoning coming’ for central banks, and backs Trump in Fed battle; US growth revised higher amid AI boom – business live

Rolling coverage of the latest economic and financial news, as former PM criticises Bank of England and claims UK faces ‘economic doom loop’People in the UK: how have you been affected by the rise in food prices?The FCA’s investigation into Drax comes five months after the company’s former top lobbyist accused it of “misleading the public, government and its regulator” over its sourcing of wood for biomass pellets.In a claim for unfair dismissal, Rowaa Ahmar, Drax’s former head of public affairs, said evidence suggested Drax was “unable to prove that it only sourced sustainable wood for its biomass, and that it was in fact using unsustainable wood”. Continue reading...

Events

4 d. ago Liz Truss backs Trump attacks on Fed and says ‘reckoning’ on way for central banks

Britain’s shortest-serving prime minister also critical of Bank of England and European Central BankBusiness live – latest updatesDonald Trump’s assault on the independence of the US Federal Reserve has been backed by Liz Truss, the shortest-serving British prime minister in history, who was ousted after a meltdown in the financial markets.The former Conservative leader, who during her 49 days in power in late 2022 railed against the “deep state” and the Bank of England for undermining her before she was ejected from office by her own party, said a “reckoning” was coming for the world’s most powerful central banks. Continue reading...

Politics

4 d. ago Liz Truss warns there is ‘a reckoning coming’ for central banks, and backs Trump in battle with Fed – business live

Rolling coverage of the latest economic and financial news, as former PM criticises Bank of England and claims UK faces ‘economic doom loop’People in the UK: how have you been affected by the rise in food prices?The FCA’s investigation into Drax comes five months after the company’s former top lobbyist accused it of “misleading the public, government and its regulator” over its sourcing of wood for biomass pellets.In a claim for unfair dismissal, Rowaa Ahmar, Drax’s former head of public affairs, said evidence suggested Drax was “unable to prove that it only sourced sustainable wood for its biomass, and that it was in fact using unsustainable wood”. Continue reading...

Events

6 d. ago Trump moves to fire Fed governor Lisa Cook in escalating attack on bank’s independence

Departure of Cook, first Black woman to sit on central bank’s board, would allow US president to put forward a replacementDonald Trump has said he is firing the Federal Reserve governor, Lisa Cook, over allegations she committed mortgage fraud, in an extraordinary move that marks the latest escalation in the US president’s attack on the central bank’s independence.Trump wrote to Cook on Monday, telling her that he was removing her from her position “effective immediately”, based on the allegation from one of his allies that she had obtained a mortgage on a second home she incorrectly described as her primary residence. Continue reading...

Events

6 d. ago Federal Reserve governor 'fired' by Trump issues scathing rebuke claiming president has no authority over central bank

Cook's sacking was the first in the 111-year history of the Federal Reserve, as Trump all but guaranteed a replacement that would back the president's calls to slash interest rates.

Politics

1 week ago US Justice department calls on Fed to sack governor Lisa Cook

Letter to central bank chair Jay Powell is latest escalation in Trump administration’s assault on the institution

Society

1 week ago Fed governor Lisa Cook says she will not be ‘bullied’ into resigning

Trump had called on central banker to step down after his ally accused her of falsifying mortgage documents

Politics

1 week ago Trump calls on Federal Reserve governor Lisa Cook to resign, renewing attack on central bank

Ally of the president has accused the first Black woman to sit on the central bank’s board of mortgage fraudUS politics live – latest updatesDonald Trump has called on a Federal Reserve governor to immediately resign, renewing his extraordinary attack on the central bank’s independence as officials mull next steps on interest rates.A close Trump ally accused Lisa Cook, an appointee of Joe Biden, of “potentially committing mortgage fraud” and urged the US Department of Justice to investigate. The claims have not been confirmed. Continue reading...

Politics

1 week ago Powell to deliver Jackson Hole address under fire on multiple fronts

Federal Reserve chair is under bombardment from Trump and battling an insurgency within the central bank

Events

1 week ago Florida man who fatally stabbed friend over Trump convicted of second

Donald Jamesbrown Henry and Shawn Popp got into a fight over ‘Trump going bankrupt’ when the latter was attackedA Florida man who fatally stabbed a friend during an argument in 2022 over Donald Trump’s businesses having gone bankrupt, is facing possibly spending the rest of his life in prison after being convicted of murder.Donald Jamesbrown Henry, 38, awaits a sentencing hearing tentatively scheduled for October after jurors found him guilty Friday of second-degree murder in the killing of Shawn Popp, whose death came to be regarded by some as an example of the havoc that politics can wreak on interpersonal relationships in the US. Continue reading...

Politics

2 w. ago Can crocodiles and canoeists coexist at Australia’s 2032 Olympic Games?

As world’s largest living reptile reclaims the Fitzroy River in Queensland, some say athletes shouldn’t worry while others warn against ‘running the gauntlet’Get our breaking news email, free app or daily news podcastAndrew Miller is only minutes into a crash course on using a V8 ocean ski when he first drops the C-bomb.The former red beret paratrooper and current president of a Rockhampton canoe club is explaining to a first-time paddler why he won’t begin on a K1 – the kind of craft the world’s best canoe sprinters will paddle when and if they come here to central Queensland to compete at the 2032 Olympic Games. Continue reading...

Sport

2 w. ago Jared Kushner’s Affinity to take 8% stake in UK lender OakNorth

Investment by firm founded by Donald Trump’s son-in-law comes as bank plans US push

Politics

2 w. ago Keir Starmer meets with Volodymyr Zelensky in Downing Street amid claims US and Russia are planning 'West Bank

The Prime Minister and Mr Zelensky met in No10 as both leaders brace themselves for the outcome of the US President's talks with the Russian leader.

Politics

2 w. ago USDA spent thousands on giant Trump banners as it was cutting aid to schools and food banks, report says

Agriculture Secretary Brooke Rollins previously cheered over the banners, saying, ‘President Trump’s bold vision is ushering in a Golden Age for our farmers’

Politics

2 w. ago DAN HODGES: Keir Starmer's nightmarish vision is so wrong and hypocritical. He's talking Britain down

The last time I saw Liz Truss as Prime Minister, we were discussing our mutual love of South London.

Politics

2 w. ago Liz Truss slams beloved UK event claiming it was made by people who 'hate Britain'

She managed to take a swipe at the NHS, Isembard Kingdom Brunel, Shakespeare, Peter Pan, Jerusalem, Mary Poppins, Elgar, Pink Floyd, The Clash, James Bond and the Queen all in one sentence

Politics

2 w. ago Soaring demand at food banks across Africa thanks to massive aid cuts

Food banks in Kenya, Nigeria and South Africa say they are under increasing pressure, writes Nick Ferris – with aid cuts by Donald Trump’s US and other nations compounding the impact of the climate crisis and a spike in the cost of living

Politics