'Unprecedented action' - Fed Chair Powell to face probe on renovation project amid 'threats and pressure' from Trump administration

'Unprecedented action' - Fed Chair Powell to face probe on renovation project amid 'threats and pressure' from Trump administration

"Chair of the US Federal Reserve, Jerome Powell, announced that the Department of Justice (DoJ) has launched an inquiry into his testimony in Congress about the 2.5 bn USD (2.2 bn EUR) renovation of the body's office buildings in Washington DC last June. In a video address released on Sunday, Powell called the subpoenas from the DoJ an 'unprecedented action' rooting from 'threats and pressure' from US President Donald Trump's administration. "The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President," pointed out Powell. "This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions, or whether instead, monetary policy will be directed by political pressure or intimidation," he emphasised. Powell also pledged to serve in the role, vowing to 'stand firm' and act 'without political fear or favour'. The Department of Justice had not commented on Powell's statements at the time of publication. Trump has repeatedly clashed with Powell - who he dubbed 'Too Late' - over his refusal to cut rates. Powell's term ends next May, and the courts have ruled that the Fed is independent and Trump is unable to fire him before then. "

'Unprecedented action' - Fed Chair Powell to face probe on renovation project amid 'threats and pressure' from Trump administration

'Unprecedented action' - Fed Chair Powell to face probe on renovation project amid 'threats and pressure' from Trump administration

"Chair of the US Federal Reserve, Jerome Powell, announced that the Department of Justice (DoJ) has launched an inquiry into his testimony in Congress about the 2.5 bn USD (2.2 bn EUR) renovation of the body's office buildings in Washington DC last June. In a video address released on Sunday, Powell called the subpoenas from the DoJ an 'unprecedented action' rooting from 'threats and pressure' from US President Donald Trump's administration. "The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President," pointed out Powell. "This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions, or whether instead, monetary policy will be directed by political pressure or intimidation," he emphasised. Powell also pledged to serve in the role, vowing to 'stand firm' and act 'without political fear or favour'. The Department of Justice had not commented on Powell's statements at the time of publication. Trump has repeatedly clashed with Powell - who he dubbed 'Too Late' - over his refusal to cut rates. Powell's term ends next May, and the courts have ruled that the Fed is independent and Trump is unable to fire him before then. "

From cargo to crisis - China unveils first multipurpose ton-class cargo drone

From cargo to crisis - China unveils first multipurpose ton-class cargo drone

"China has completed the maiden flight of its first domestically developed ton-class unmanned cargo aircraft, the Tianma-1000, marking a further step in the country’s push to expand large-scale unmanned transport capabilities. The flight took place in Shaanxi province in northwest China, where the aircraft successfully completed take-off, flight and landing tests, footage shows. The Tianma-1000 was developed by Xi’an Aisheng Technology Group, a subsidiary of state-owned defence manufacturer NORINCO. According to its developers, the drone is designed as a multi-purpose transport platform capable of logistics deliveries, emergency rescue operations and material airdrops. It is described as China’s first medium-altitude, low-cost unmanned transport aircraft adapted for operation in complex plateau environments. The Tianma-1000 has a maximum operating altitude of 8,000 metres, a range of up to 1,800 kilometres and a payload capacity of one tonne. Its minimum take-off and landing distance is less than 200 metres. A modular cargo bay allows the aircraft to be reconfigured for logistics transport, supply drops, communications relay missions and multi-region support. In emergency scenarios, including natural disasters, the drone is expected to deliver up to one tonne of supplies to areas inaccessible by road or rail within hours, reducing response times and removing the need for transhipment. Developers say the aircraft is intended for broad use in civilian logistics, disaster relief, border supply missions and specialised transport operations."

From cargo to crisis - China unveils first multipurpose ton-class cargo drone

From cargo to crisis - China unveils first multipurpose ton-class cargo drone

"China has completed the maiden flight of its first domestically developed ton-class unmanned cargo aircraft, the Tianma-1000, marking a further step in the country’s push to expand large-scale unmanned transport capabilities. The flight took place in Shaanxi province in northwest China, where the aircraft successfully completed take-off, flight and landing tests, footage shows. The Tianma-1000 was developed by Xi’an Aisheng Technology Group, a subsidiary of state-owned defence manufacturer NORINCO. According to its developers, the drone is designed as a multi-purpose transport platform capable of logistics deliveries, emergency rescue operations and material airdrops. It is described as China’s first medium-altitude, low-cost unmanned transport aircraft adapted for operation in complex plateau environments. The Tianma-1000 has a maximum operating altitude of 8,000 metres, a range of up to 1,800 kilometres and a payload capacity of one tonne. Its minimum take-off and landing distance is less than 200 metres. A modular cargo bay allows the aircraft to be reconfigured for logistics transport, supply drops, communications relay missions and multi-region support. In emergency scenarios, including natural disasters, the drone is expected to deliver up to one tonne of supplies to areas inaccessible by road or rail within hours, reducing response times and removing the need for transhipment. Developers say the aircraft is intended for broad use in civilian logistics, disaster relief, border supply missions and specialised transport operations."

Sorry, Trump and Farage – London is no lawless ‘warzone’. Violent crime is lower than ever | Sadiq Khan

Sorry, Trump and Farage – London is no lawless ‘warzone’. Violent crime is lower than ever | Sadiq Khan

Reform’s new candidate for mayor claims people pity Londoners for living in an unsafe capital. But the evidence is clear: we’re making our streets safer Last year, something extraordinary happened in London. As the conversation about crime got even louder, London quietly reached the lowest per capita homicide rate in its recorded history. Even London’s harshest critics have to accept this is impressive progress. For too many, it will no doubt come as a surprise. In recent years, politicians and commentators have sought to spam our social media feeds with an endless stream of distortions and untruths – painting a dystopian picture of a lawless place where criminals run rampant. Sadiq Khan is the mayor of London Continue reading...

Publishers fear AI search summaries and chatbots mean ‘end of traffic era’

Publishers fear AI search summaries and chatbots mean ‘end of traffic era’

Media bosses expect web referrals to plunge and want journalists to emulate content creators, report finds Media companies expect web traffic to their sites from online searches to plummet over the next three years, as AI summaries and chatbots change the way consumers use the internet. An overwhelming majority are also planning to encourage their journalists to behave more like YouTube and TikTok content creators this year, as short-form video and audio content continues to boom. Continue reading...

Lending to small businesses and low-income areas must expand, say Labour backbenchers

Lending to small businesses and low-income areas must expand, say Labour backbenchers

Senior politicians have tabled bill that would force UK banks to make affordable finance more accessible Senior Labour backbenchers are urging the government to introduce legislation forcing UK banks to expand affordable lending to small businesses and low-income neighbourhoods. The former minister Gareth Thomas has tabled a 10-minute rule bill – a type of private member’s bill – echoing the US Community Reinvestment Act (CRA). Continue reading...

‘Act of family vengeance’: French defamation case highlights perils of writing autofiction

‘Act of family vengeance’: French defamation case highlights perils of writing autofiction

Complaint against Cécile Desprairies over Nazi collusion novel alleges that ‘resentment permeates the entire work’ The Polish poet Czesław Miłosz is famously credited with the line: “When a writer is born into a family, the family is finished.” In contemporary European literature, a book these days is often the beginning of a familial feud. With thinly disguised autobiographical accounts of family strife undergoing a sustained boom across the continent, it can increasingly lead to family reunions in courtrooms. Such was the case with the French historian Cécile Desprairies, who on Wednesday was sued for defamation by her brother and a cousin over the depiction of her late mother and her great-uncle in her 2024 novel La Propagandiste. Continue reading...

London’s homicide rate drops to lowest in more than a decade

London’s homicide rate drops to lowest in more than a decade

Sadiq Khan says ‘public health’ approach has made the capital one of the safest cities in the western world London’s murder rate has dropped to its lowest in more than a decade with police in the capital and the mayor saying it is now one of the safest cities in the western world. The figures come as those on the radical right criticise the city for having a crime problem , hoping to gain politically from such claims being believed. Continue reading...

West African sunshine dishes: Toyo Odetunde’s chicken yassa pot pie and stuffed plantain boats – recipes

West African sunshine dishes: Toyo Odetunde’s chicken yassa pot pie and stuffed plantain boats – recipes

Beat the winter blues with a soul-soothing, Senegalese-inspired spiced chicken pie and hearty Nigerian plantain boats stuffed with black-eyed beans If there’s anything that can assuage my winter blues, it’s a soul-soothing chicken pie. I’ve long enjoyed innovating fusions between west African and other cuisines, and today’s marriage of a deeply flavourful Senegalese chicken yassa-inspired filling in buttery, flaky puff pastry is one of my all-time favourites. But, first, my take on hearty Nigerian stewed beans – ewa riro – using tinned beans for added convenience. Typically paired with ripe plantain, I use the rich beans to fill canoas (plantain boats) in a playful, Latin American-inspired twist. Continue reading...