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The Opposition to Crypto in 401(k) Plans Congressional Democrats are strongly opposing a US Department of Labor proposal that would allow 401(k) investments to include cryptocurrency, private credit and private equity assets, arguing the change will expose workers to riskier and more complex investments. The Risks of Volatile Assets In a letter shared exclusively with the Guardian, Senator Bernie Sanders, Senator Elizabeth Warren and House education and workforce committee ranking member Bobby Scott of Virginia, argued the rule would expose an estimated $14.2tn of 401(k) retirement savings to volatile assets and would probably not withstand a challenge in court. The proposed rule could expose workers to higher fees and erode their long-term returns. These high-risk assets can experience extreme volatility. The Data Analysis The Financial Industry Regulation Authority (Finra) cautions that crypto investments “have experienced higher levels of volatility relative to more traditional investment assets” and “the risk of losing all of your investment is significant”. The FBI reported cryptocurrency fraud complaints comprise some of the highest losses for Americans among cyber-enabled fraud, with over $11bn in losses reported in 2025. The Impact Analysis Consumer advocates argue the proposed rule only puts retirement savings accounts at higher risk while benefiting the crypto industry. “Opening 401ks to these products risks turning workers’ retirement savings into a Ponzi-like scheme that throws a lifeline to an industry scrambling for fresh cash,” Oscar Valdés Viera, a senior policy analyst at consumer advocacy group Americans for Financial Reform, said in a statement. The Prediction Democrats flagged Trump’s ties to the crypto industry and the conflict of interest it could present to the proposal. Trump’s adult sons have been managing the family’s crypto business, which includes a new Trump-based digital currency, as he carries out his second term in the White House. The ventures in crypto have potentially raised as much as $5bn for the family after the launch of its digital currency in September, according to the Wall Street Journal.

The Investigation Wise, the UK-based international money transfer service and darling of the London fintech scene, has confirmed it is answering questions from Belgian prosecutors investigating money laundering, sending its shares tumbling. Details of the Investigation In a statement to the stock market, Wise said it was “currently working with the Brussels prosecutor to respond to queries about our business, as we routinely do with regulators and law-enforcement authorities. “His office’s inquiries are still incomplete and no specific findings have been shared with us to date.” Market Impact Shares in the company plunged by more than 10% by early afternoon, as investors digested official confirmation of discussions with the Belgian prosecutor’s office. Background and Allegations The London-based firm, which has 19 million customers, processes 4.7m transactions a day and is valued at more than £8bn, issued the statement in response to a report by The Bureau of Investigative Journalism (TBIJ). The report claimed that Belgian authorities are investigating whether Wise accounts have been “used by criminals to launder the proceeds of fraud, corruption and drug trafficking”. Prosecutors in Belgium reportedly opened the investigation last year, on the basis that Wise accounts had featured in hundreds of requests for cross-border help in criminal proceedings from more than 30 countries across Europe. The transactions under investigation amounted to €500m (£433m). Wise's Response and Compliance “Like every financial institution, we face the reality of increasingly sophisticated bad actors attempting to exploit our platform, and we continually invest in tech-enabled systems and teams to stay ahead of ever-evolving threats,” Wise told investors. “We start by verifying customers before they open an account and continue monitoring hundreds of data points in real time as customers use our products, with teams reviewing transactions, offboarding customers when needed, and proactively reporting suspicious activity to law enforcement. “We take our responsibility incredibly seriously. Around one-third of Wise’s global team is dedicated to protecting our customers from financial crime and this focus is shared across all of our teams.”

Kane Parsons' Historic Achievement Kane Parsons has become the youngest film-maker to open a film at number one at the North American box office for his directing debut Backrooms. The Success of Backrooms Parsons, 20, is seven years younger than the previous record holder, Josh Trank, who was 27 when his debut Chronicle recorded a $22m opening in 2011. Backrooms stunned industry observers by taking $81m in its first weekend in North America – which was also a record for its studio, A24. The Film's Background Backrooms, described by the Guardian’s chief critic Peter Bradshaw as “an icily brilliant and genuinely disturbing conceptual horror film” is based on Parsons’ YouTube series of the same name, inspired by the “creepypasta” of the same name, referring to a fictional space of infinite, interconnected spaces. Addressing Controversy Parsons’ age has led to claims online that he did not in fact direct the film, with actor Mark Duplass responding: ““Hmmm, with all due respect I don’t remember seeing you on set. When I was there, Kane was 100% in control. More so than many directors 3x his age.” Parsons himself also commented on the rumours, saying: “This is actually all true. They don’t tell you this, but 96% of all movies released in North America and Europe are actually directed by the same person. They call him ‘The Older Gentleman’. He has had all of Hollywood in a chokehold for decades now.” Comparison with Other Low-Budget Horror Films Backrooms' box office success follows that of another low-budget horror film, Obsession, directed by Curry Barker. Barker, at 26, is six years older; his film was released on 15 May with a $17.1m opening weekend in North America, and has now recorded $104.7m after four weeks.

The Premier League 2025-26 Season Kicks OffThe Premier League 2025-26 season started with a bang, featuring several thrilling matches. Reigning champions Liverpool began their campaign with a late 4-2 win over Bournemouth at Anfield, their first game back following the death of Diogo Jota. The Reds then secured narrow victories against Newcastle and Arsenal, with Dominik Szoboszlai scoring a stunning free-kick against Arsenal that won goal of the month.Meanwhile, Manchester City suffered a difficult start, losing 2-0 at home to Tottenham and 2-1 away at Brighton. Everton marked the opening of their new home stadium, Hill Dickinson Stadium, with a win. Sunderland, back in the top flight, made a strong start with two wins from their first three matches.Key Matches and MomentsAugust 15: Fans pay tributes to Diogo Jota near Anfield.August 16: Martin Dubravka of Burnley fails to reach a Richarlison strike at Tottenham Hotspur Stadium.August 16: Diego Gómez of Brighton gets involved in a 1-1 draw with Fulham.August: Riccardo Calafiori scores for Arsenal against Manchester United at Old Trafford.

Lead: A Columnist’s Warning About AI’s Empty VoiceNesrine Malik contends that AI‑generated text is fundamentally meaningless, a fact that makes it dangerously suited to today’s political climate of repetitive, low‑emotion rhetoric. She describes a personal “nightmare scenario” where AI research tools introduce misquotes and dilute the writer’s own intellectual labor.The Column’s Core Claim: AI Lacks Humanity and Fuels Empty Political RhetoricMalik frames AI as a “tinny chant” that pervades everything from customer‑service bots to social‑media posts, stripping language of its personal alchemy. She argues that while AI can mimic styles, it cannot generate truly original voices, leaving writers dependent on a chorus of existing tones.Lack of Quantitative Data – Qualitative Observations OnlyNo financial or usage statistics are cited in the piece.The argument relies on anecdotal evidence: misattributed quotes, a Commonwealth short‑story controversy, and personal writing habits.References to external research (e.g., a Time study) suggest AI may reduce brain engagement, but no specific figures are provided.Implications for Journalism, Politics, and Public DiscourseThe column warns that AI’s bland, repeatable tone amplifies disinformation and enables political actors to hide behind “empty slogans.”Keir Starmer‑like voices are cited as examples of how AI‑styled language can mute genuine ideological expression, allowing extremist narratives to surface unchecked.Future Trajectory of Human Authorship in an AI‑Saturated LandscapeMalik predicts a growing cultural atrophy if writers continue to outsource research and prose to LLMs. She urges a conscious resistance to preserve the “social contract” of trust and authenticity, suggesting that the battle for credible, human‑crafted content will define the next era of public communication.

The Supernatural Musical Romance The origins of this supernatural musical are in ancient British folklore but it plays out as a teen love story in small-town America. Young, spirited – and human – Barbara Allen (Lauren Jones) falls in love with John the Witch Boy (Glenn Adamson), from a community of Witches and Conjur People. The Plot and Its Roots She is willing to incur the wrath of parents and neighbours in her Appalachian town to be with this mysterious man who has drifted in from the Smoky Mountains and is rumoured to have diabolical powers. He is willing to abjure his immortality to spend the rest of his life with her. Both are rebels, determined to be together despite social censure. The Musical Elements The generation that grew up with Twilight would be forgiven for thinking the setup rather derivative but, in fact, Dark of the Moon got there first. Originally written by Howard Richardson and William Berney as a play, it was first performed in 1942 and then turned into a musical. The themes are all there, from the fierceness of a young love that crosses all social – and mortal – boundaries, to the undertones around the fear of sex and importance of fidelity. The Performances and Production Jones brings an edge of punk with a look not far removed from Kristen Stewart’s while Adamson seems to be channelling emo pop star energy (jeans, plaited hair and eyeliner). It’s all rather weird, but proves its own eternal life through the power and personality of the songs by Lindy Robbins, Dave Bassett and Steve Robson. There are vocally pure performances across the cast, however amped up and cheesy the production as a whole. The Verdict The production is rather too ridiculous to become the tear-jerker it could be but it’s enjoyable nevertheless. At Charing Cross theatre, London, until 8 August.

The Guardian’s latest review of Beetlejuice: The Musical notes that the production has turned Tim Burton’s cult‑film into a Halloween‑like, shock‑jock musical extravaganza now playing at the Prince Edward Theatre until 17 April. The show mixes grotesque humor, topical references and high‑octane staging, delivering a wild but uneven theatrical experience.Beetlejuice Musical Reanimates Tim Burton’s Cult Classic on the West EndOriginally staged on Broadway in 2019, the London version abandons the film’s “less‑is‑more” restraint. The titular character, played by David Fynn, bursts onto the stage with a self‑aware ballad, immediately setting a tone of anarchic satire. The production leans heavily into contemporary jokes—hip‑ster vaping, six‑seven slang, and even a jab at Andrew Lloyd Webber—while preserving the film’s macabre spirit.Creative Team’s Off‑kilter Vision Drives the Show’s AestheticDirector Alex Timbers orchestrates a chaotic visual palette: Kenneth Posner’s lighting creates an uncanny glow, Peter Nigrini supplies trippy projections, and set designer David Korins transforms the theatre into a haunted house complete with a sandworm that slithers through the auditorium. Costume designer William Ivey Long delivers “toxic yet sparkly” outfits, from Miss Argentina’s glittering ensemble to Lydia Deetz’s spidery black lace. The special‑effects team—Jeremy Chernick, Michael Weber and puppeteer Michael Curry—adds a layer of tactile wonder, most memorably a roast pig that stands upright during a possession scene set to “Day‑O.”Critical Reception Highlights Strengths and WeaknessesThe review praises standout performances: Hannah Nordberg brings “drop‑dead energy” to Lydia, while David Hunter and Chelsea Halfpenny convincingly portray the newly deceased Maitlands. However, the script’s rapid swing between the Netherworld and the living world can feel “tiresome,” and the musical numbers, though varied, are described as “oddly unmemorable.” The show’s relentless gag‑fest is likened to a “Netflix megastar stand‑up desperate to cause outrage,” suggesting that the novelty may wear thin over a full run.What Lies Ahead for Beetlejuice on the London StageDespite its unevenness, the production’s bold visual identity and strong cast give it a solid footing in the competitive West End market. If the show can harness its cult‑film fanbase and attract audiences seeking a high‑energy, Halloween‑style experience, it may enjoy a sustained run beyond the current booking. Conversely, word‑of‑mouth about the “scattershot dialogue” could limit its appeal to repeat‑viewers, making the next few weeks critical for box‑office momentum.

Translated Fiction Review Roundup A collection of recent translated fiction has been reviewed, showcasing the diversity and complexity of global literature. The reviews include: 'Sisters in Yellow' by Mieko Kawakami Sisters in Yellow by Mieko Kawakami, translated by Laurel Taylor and Hitomi Yoshio (Picador, £16.99) Kawakami’s latest opens with a bang, as narrator Hana learns that her old friend Kimiko has been charged with abduction. This MacGuffin takes us to their friendship in late-1990s Tokyo, when teen Hana and the older woman open a bar called Lemon: “Yellow attracts money.” But it’s a turbulent ride and soon Hana is in a world of organised crime. “The world is crazy. I feel like I’m living in a manga.” She’s not the only one, and you need an appetite for Kawakami’s style, which prefers to explore rather than explain – people come and go, buildings burn down, cancer is diagnosed, almost at random – but the relentless rush means there’s no time to get bored. At its best – as in a scene where Hana’s unreliable mother wants to borrow 2m yen for investment in lingerie that helps “your spine and organs move back to where they’re supposed to be” – this is a story both absurd and horrifying. 'All Flesh' by Ananda Devi All Flesh by Ananda Devi, translated by Jeffrey Zuckerman (Pushkin, £12.99) “Forgive me for starting this story with bodily, unpalatable origins.” You may as well – it’s all like that. In an unnamed European country, a schoolgirl “born with no urge but to consume” is getting bigger and bigger. “My gut, my ass, my thighs – they were all set on reaching the farthest corners of the world.” She blames her gluttony on the need to silence the voice of her dead twin sister, who was “absorbed into my tissues” in the womb. She hates school, where other kids mock her, as though her own self-disgust weren’t enough. After a blackly comic scene where she gets stuck in her bedroom doorframe like “an uncooperative cork”, she falls in love with the lonely carpenter who arrives to widen the door – but there are more twists to come. This powerful story is deeply physical, but driven by a compelling voice describing the torment of a girl who is “the psychical mirror of our time … immoderation made manifest”. 'The White Desert' by Luis López Carrasco The White Desert by Luis López Carrasco, translated by Rosalind Harvey (Granta, £14.99) This unpredictable book, comprising five linked stories about a Spanish couple, opens with the end of the world and gets weirder from there. A balloon debate about a post-apocalyptic scenario turns nasty when one participant pulls a knife, or thinks he does. A plane crash-lands on an island. “Can [we] go and get our luggage … Lots of people have, you know, soiled themselves.” What links the scenes is a sense of disconnection in our connected world, but the book subverts expectations: when a group of people celebrating New Year’s Eve go missing, it turns out to be a game of hide and seek. Footnotes peppered throughout suggest we’re viewing all this from the future (“Emirates was a well-known passenger airline …”), and discovering what the white desert is turns everything on its head. For readers who like to do their own joining up, and who want a playful, original take on our precarious lives, this is a thought-provoking treat. 'The Home of the Drowned' by Elin Anna Labba The Home of the Drowned by Elin Anna Labba, translated by Elizabeth Clark Wessel (Harvill, £16.99) “You could have waited, you bastards.” In 1942 Lapland, a village occupied by the semi-nomadic Sámi people is flooded by a new hydroelectric plant’s dam. One family watch as their goahti (peat-covered hut) disappears under the water. “It wasn’t the nicest goahti,” says Ánne. “No, but it was mine,” says her sister Rávdná. When Rávdná wants to build a house to replace it, the authorities refuse permission: the Sámi way of life has been rejected but alternatives are not permitted. A local newspaper half-heartedly offers to publicise their case, but “we receive a lot of angry letters if we use any foreign words”. When the government tells local people the new dam “will lift us out of poverty and injustice”, the words reek with irony. This intimate story of infuriating discrimination is, Labba says, based on real events in Sweden.

The Rumors Surrounding Tom Hardy's Departure Rumors are swirling that Tom Hardy has been fired from the Paramount+ series MobLand due to clashes with cast and crew. The news comes after reports of Hardy's difficult behavior on set, including late arrivals and demands for creative control. Hardy's History of Difficult Behavior This isn't the first time Tom Hardy has been accused of being difficult on set. During the filming of Mad Max: Fury Road, there were reports of blowups between Hardy and his co-star Charlize Theron. Similar incidents have been reported during the making of Star Trek: Nemesis, Lawless, and The Revenant. The Impact on MobLand Hardy is currently the center of gravity in MobLand, providing the series with charm and forward momentum. Without him, the show risks drifting off into nothingness. Production insiders claim that Hardy hasn't been fired and that 'things are being worked through creatively.' The Future of MobLand The choices now available to the MobLand producers are limited and painful. Assuming that the show will be recommissioned, MobLand will have to toy with the idea of letting Hardy go and recalibrating without him. However, this would be a difficult task, as Hardy is the show's main attraction.