19 h. ago The ‘bizarre’ referral of the US housing finance agency chief to oust Lisa Cook

Former officials and experts say Bill Pulte’s request for inquiry into Fed governor’s alleged fraud is ‘unusual’The head of the Federal Housing Finance Agency embraced a highly unusual process to accuse Lisa Cook, a Federal Reserve governor, of committing mortgage fraud, former officials and experts have said. One former high-ranking official called the director’s involvement in a criminal referral “bizarre”.William Pulte, a businessman and major GOP donor whom Donald Trump appointed to head the powerful housing agency earlier this year, has accused Cook of committing mortgage fraud by misrepresenting her homes as a primary residence, potentially securing more favorable mortgage rates. The justice department formally opened a criminal investigation into whether Cook committed fraud and has issued subpoenas related to the transaction. Cook’s lawyers have called the discrepancies a “clerical error” and she has denied any wrongdoing. Continue reading...

Politics

4 d. ago Old master painting looted by Nazis recovered a week after being spotted in Argentinian property listing

Portrait of a Lady by the Italian master Giuseppe Ghislandi handed over by daughter of the late Nazi financier Friedrich KadgienAuthorities in Argentina have recovered an 18th-century painting stolen more than 80 years ago by the Nazis from a Jewish art dealer in Amsterdam, a week after it was spotted by chance in a real estate listing.The painting, the long-lost Portrait of a Lady (Contessa Colleoni) by the Italian master Giuseppe Ghislandi, was looted in the second world war. It was handed over on Wednesday to the Argentinian judiciary by the daughter of the late Nazi financier Friedrich Kadgien, Patricia Kadgien, who has been under house arrest with her husband since Tuesday. Continue reading...

Politics

4 d. ago The Guardian view on fiscal rules and financial myths: Britain must stop fearing imaginary bond vigilantes | Editorial

Liz Truss fell not for borrowing, but for incompetence. Rachel Reeves mustn’t repeat the mistake with rules markets don’t demandIn 1995, Nick Leeson, a 28-year-old trader for Barings Bank, brought down the City’s oldest finance house by, among other things, betting that the Bank of Japan (BoJ) couldn’t keep rates low forever after its financial crash led to a borrowing spree. The devastating Kobe earthquake was the final blow. The BoJ cut rates, bond prices rose and his losses spiralled to $1.4bn. His bet that markets would beat Japan brought down the bank.Barings’ collapse is perhaps a spectacular example of the “widowmaker” trade, where speculators think they can outsmart Japanese authorities. They’ve ended up with egg on their face as their gamble on Japan losing fiscal control proved misguided. Japan, with its own currency and a central bank working with the government, shows how the state shapes markets, not the other way round.Do you have an opinion on the issue...

Politics

4 d. ago More than 1,000 health workers urge Kennedy to quit over anti

Letter says Kennedy endangered US health, installed ideologues and ignored pleas as resignations mounted at CDCUS politics live – latest updatesA letter published Wednesday from more than 1,000 past and present workers of the health and human services department (HHS) has demanded the resignation of Robert F Kennedy Jr, insisting the health secretary’s attacks on vaccines endangered the lives of all Americans.The hard-hitting letter, addressed to Congress members, blames Kennedy for turmoil at the Centers for Disease Control and Prevention (CDC), including the firing of the agency’s chief and replacement by a Donald Trump loyalist with no medical or scientific background. Continue reading...

Politics

5 d. ago Crypto scandal sinks Russian elite’s $8.5mn polar party cruise

Company owned by France’s billionaire Pinault family sued by Russian-owned travel agency after trip collapses following payments chief’s arrest

Politics

7 d. ago Factory activity shrinks as US tariffs bite; UK house price drop – business live

Rolling coverage of the latest economic and financial newsNationwide also expects income growth to continues to outpace house price growth.That would mean that housing affordability should continue to improve, if gradually.Borrowing costs are likely to moderate a little further if Bank Rate is lowered again in the coming quarters.This should support buyer demand, especially since household balance sheets are strong and labour market conditions are expected to remain solid. Continue reading...

Economics

1 week ago CDC officials who quit in protest lead call to ‘get politics out of public health’

Staffers gather in Atlanta to applaud senior leaders who resigned after CDC chief Susan Monarez was firedWho’s who in the CDC crisis?Senior CDC vaccine research and public health leaders who resigned in protest told hundreds of supporters across the street from the campus on Thursday that the Trump administration needs to “get politics out of public health”.The agency is reeling from the firing of the CDC chief, Susan Monarez, but Monarez, who was confirmed as CDC chief just a month ago, has refused to be removed. Three senior leaders – Debra Houry, Demetre Daskalakis and Daniel Jernigan – resigned shortly after in protest, citing the alleged spread of misinformation under the Trump administration and political interference in their work. The staffers cheered and applauded them at the event on Thursday. Continue reading...

Politics

1 week ago UN food agency chief says women and children are 'starving' in Gaza and pressed Netanyahu on aid

The director of the U.N. World Food Program says it's “very evident” after a visit to Gaza that there is not enough food and that mothers and children are starving

Society

1 week ago Bernie Sanders condemns ousting of CDC chief Susan Monarez as ‘outrageous’ – US politics live

Vermont senator weighs in after Monarez issues statement refusing to step down, plunging public health agency into chaosA notable feature of Cook’s lawsuit against the president, her lawyers have listed Federal Reserve chair Jerome Powell and the rest of the board as defendants.They underscore that while the president has the right to remove a governor of the board “for cause”, Donald Trump only cited a referral letter from Bill Pulte, director of the Federal Housing Finance Agency, which alleges that Cook made false statements on a mortgage agreement.The claims made in Director Pulte’s referral letter are unsubstantiated allegations that about conduct that predates her [Cook’s] Senate confirmation, and Governor Cook has never been given an opportunity to address them. Continue reading...

Politics

1 week ago White House says it fired US health agency chief after her refusal to step down

CDC director Susan Monarez’s lawyers earlier said she had not been notified by the administration of her removal

Events

1 week ago How to find community in 2025: ‘The most important thing I’ve learned is I’m not alone’

Civic participation is in decline across the English-speaking world. To opt out of the trend, Tom Gill learns to join inThey say there’s no such thing as a free lunch. The idea? That everything has a cost, even if not financial. But I’m at my local Neighbourhood House, one of many community centres found across Australia, breaking bread with strangers and eating a genuinely free lunch. While it cost me time, what I’ve gained feels socially priceless: I’m getting to know my neighbours, something fewer and fewer Australians are doing.In 2000, Robert Putnam’s book Bowling Alone warned of declining civic participation and social connection in US society. Americans, he argued, were retreating from clubs, associations and volunteer groups – the building blocks of community connection – in favour of a more solitary existence. As Putnam put it at the time: “We used to bowl in leagues; now we bowl alone.” Continue reading...

Politics

2 w. ago Russia must 'expand nuclear shield' over 'colossal threats' in chilling warning

Alexei Likhachev, the chief of Russia's state atomic energy agency, has said the "colossal threats" Russia is facing means it must improve its nuclear capabilities in the coming years

Events

2 w. ago Universal Credit discounts including £3 tickets to the zoo and more this summer

The summer holidays can be financially tough on households, with a new survey by Utility Warehouse suggesting parents are set to spend an additional £611 over the six-week break

Economics

2 w. ago Benefits misinformation spreads online as millions grapple with cost of living

Fake news about changes to household finances is proliferating online

Economics

3 w. ago Bezalel Smotrich outlines plan for 3,000 new housing units in controversial West Bank settlement, reports say – Middle East crisis live

Israel’s far-right finance minister announces plan to advance tenders for housing which international community says would split West Bank in half, reports Times of IsraelThe health ministry in Gaza has just issued a statement, saying four more people have died from famine and malnutrition in the past 24 hours.This brings the total to 239 since the start of the war, including 106 children, according to the health ministry. Continue reading...

Events

3 w. ago Bezalel Smotrich approves 3,000 new housing units in controversial West Bank settlement, reports say – Middle East crisis live

Israel’s far-right finance minister approves tenders for housing which international community says would split West Bank in half, reports Times of IsraelThe health ministry in Gaza has just issued a statement, saying four more people have died from famine and malnutrition in the past 24 hours.This brings the total to 239 since the start of the war, including 106 children, according to the health ministry. Continue reading...

Events

3 w. ago Ousted FDA vaccine chief Vinay Prasad is returning to the agency

A Food and Drug Administration official who stepped down less than two weeks ago is getting his job back as the agency’s top vaccine regulator

Politics