News
Investigation launched into Federal Reserve and chair Jerome Powell
4+ hour, 9+ min ago (544+ words) The Federal Reserve chairman Jerome Powell is under a federal criminal investigation related to the $2.5 billion renovation to the central bank's headquarters, he has revealed. Powell said the investigation was a pretext because the Fed had set "interest rates based…...
Jerome Powell and Federal Reserve under investigation by DoJ
5+ hour, 2+ min ago (816+ words) The Federal Reserve chairman Jerome Powell is under a federal criminal investigation related to the $2.5 billion renovation to the central bank's headquarters, he has revealed. Powell said the investigation was a pretext because the Fed had set "interest rates based…...
Trump’s cap on credit card rates will harm the poor, banks claim
14+ hour, 46+ min ago (414+ words) President Trump's plan to cap credit cards' interest rates at 10 per cent will "devastate" poorer American households by cutting off their access to lending, banking bodies have warned. Trump has said he will impose the cap on American banks from…...
Why 2026 could be a turning point for the US economy
22+ hour, 7+ min ago (552+ words) At this time of year City economists are tasked with staring into their crystal balls and publishing their year-ahead forecasts. Some are useful; most, candidly, are not. That candour is not to besmirch the forecasting profession. Investors often seek a…...
Bailout for pubs will put out one fire, but Reeves could still get burnt
1+ day, 13+ hour ago (1467+ words) Senior ministers have warned that the chancellor's business rates bailout for pubs must be extended to other sectors to prevent the death of high streets. Rachel Reeves is expected to announce a rescue package for pubs, hundreds of which are…...
Why Bolivia’s richest man is betting $1bn on a British university
1+ day, 19+ hour ago (1306+ words) At 6ft 6in tall, I reckon Marcelo Claure must be about the tallest man in Bolivia, a country where the average adult male is just 5ft 5in. "I think I am," he says, poker-faced. I laugh; he looks confused. "No, truly," he adds, raising…...
US adds just 50,000 jobs in smallest gain since pandemic
2+ day, 15+ hour ago (634+ words) The US added fewer jobs than expected in December, leaving the world's largest economy with the smallest annual gain since the start of the pandemic in 2020. Employers added just 50,000 jobs last month, nearly unchanged from a downwardly revised figure of…...
Business rates relief comes too late for Covent Garden wine bar
3+ day, 9+ hour ago (456+ words) Hospitality owners are optimistic that they may gain some relief from the Treasury on business rate rises, but that salve comes too late for some businesses battling a higher cost environment. One of those was perhaps the most "London" of…...
Pubs struggling with rising overheads need the chancellor’s help
4+ day, 10+ hour ago (422+ words) Pubs struggling with rising overheads need the chancellor's help Many of their difficulties can be traced to decisions taken by Rachel Reeves in recent budgets. She must do more to save them from shuttering Rachel Reeves has proudly declared that…...
Political pressure threatens our fragile new economic equilibrium
6+ day, 22+ hour ago (161+ words) The turn of the year brings a familiar ritual of forecasting for economists. In 2025, many were badly wrong. Despite fears of "liberation day, the United States recorded its fastest growth in two years, while Britain quietly became the second-fastest growing…...