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Senate Democrats have moved to stall President Donald Trump's bid to install a new leader of the US Federal Reserve, condemning the move as 'absurd' given ongoing criminal investigations into the central bank's leadership.Democratic lawmakers on the Senate banking committee urged its Republican leadership to postpone the planned confirmation hearing for Kevin Warsh, the financial executive and former Fed governor Trump has nominated to replace Jerome Powell as Fed chair.In a letter to banking committee chair Senator Tim Scott, the 11 Democrats called for a hearing currently scheduled for Tuesday to be delayed until investigations into Powell and Lisa Cook, a Fed governor, are closed.Powell is facing a criminal investigation into the renovations of the central bank's headquarters, which he dismissed as a 'pretext' tied to the Fed's refusal to bow to Trump's demands. The Trump administration also tried to fire Cook, an appointee of Joe Biden, for alleged mortgage fraud.The Democratic senators wrote in their letter to Scott: 'It would be absurd on its face to allow President Trump to handpick the next chair of the Federal Reserve as his Department of Justice actively pursues criminal investigations of not one, but two sitting members of the Federal Reserve board.'Warsh's nomination also faces hurdles from within the president's own party, with outgoing GOP senator Thom Tillis stating he would not support any nomination as long as there is an investigation into Powell.

A large-scale fire broke out at the Viva oil refinery located in Geelong, Australia, early on April 16, 2026. Video footage circulating online shows thick plumes of smoke billowing from the facility, prompting swift action from local fire services and emergency responders. Authorities have mobilised multiple fire‑fighting units to contain the blaze, emphasizing the priority of protecting nearby residential areas and preventing environmental contamination. While details on the fire’s origin remain under investigation, officials have warned that the incident could temporarily affect the refinery’s output, potentially influencing regional fuel supplies. Industry analysts note that any interruption at a major refining hub like Viva can have ripple effects across the domestic energy market, possibly leading to short‑term price fluctuations for gasoline and diesel. The incident also underscores the importance of rigorous safety protocols in high‑risk industrial sites. As the situation develops, the Department of Environment and Energy has pledged to monitor air quality and assess any ecological impact. Residents in the vicinity have been advised to stay informed through official channels and to follow any evacuation or safety instructions issued by emergency services.

The Football Association has initiated an investigation into allegations that Kettering Town manager Liam McDonald breached betting regulations. The allegations, which are historic, date back to McDonald's time as manager of Redditch around 10 years ago and include claims that he bet against his own team.The FA's betting rules strictly prohibit participants in the game from Step 4 upwards from placing any bets on football globally. Kettering Town currently competes in the Southern League Premier Central division, classified as Step 3 of the National League and the seventh tier of the overall pyramid.McDonald reportedly voluntarily brought the issue to Kettering's attention, and the club is standing by him. The FA has not yet issued any charges, and it remains unclear if they will do so. This case highlights the FA's ongoing efforts to uphold its betting rules, as seen in recent high-profile cases such as Ivan Toney's eight-month ban for breaching FA betting rules.

Brazil's Federal Police have launched an investigation into Flavio Bolsonaro, a right-wing presidential candidate, for allegedly issuing defamatory statements against his election rival, President Luiz Inacio Lula da Silva. The probe was ordered by the Supreme Court's Justice Alexandre de Moraes and relates to posts Bolsonaro published in January.In the posts, Bolsonaro responded to the news of Venezuelan President Nicolas Maduro's abduction by the US with insinuations linking Lula to crimes. He wrote that Lula will be exposed and predicted the collapse of the left-wing alliance known as the Sao Paulo Forum due to scandals including international drug and arms trafficking and money laundering.Brazil's penal code considers defamation a criminal offence, with prosecutors able to seek heightened penalties for defamation against presidents or heads of state. The Federal Police have 60 days to carry out their initial investigation.The development comes as Bolsonaro and Lula are in a neck-and-neck race for the presidency ahead of October's general election. A recent poll showed Lula slightly ahead in the first round with 37% of the vote compared to Bolsonaro's 32%, but Bolsonaro polls slightly ahead in a one-on-one contest.Flavio Bolsonaro, a senator for Rio de Janeiro and the eldest son of former President Jair Bolsonaro, entered the 2026 presidential race with his father's endorsement. He has suggested that seeking his father's freedom would be part of his campaign.

President Donald Trump announced on Fox Business that he will dismiss Federal Reserve Chair Jerome Powell should the governor refuse to leave his post when his term concludes on May 15. The statement, made during an interview with Maria Bartiromo, underscored the president’s willingness to act, saying he “has wanted to fire him, but I hate to be controversial… he will be fired.” Legal scholars and policy analysts quickly cautioned that the president’s threat is not grounded in statutory authority. Skanda Amarnath, executive director of the think‑tank Employ America, told Al Jazeera that the administration is already losing a court battle over an attempt to remove Fed Governor Lisa Cook and would likely face the same outcome if it pursued Powell’s removal. The controversy emerges as the Senate Banking Committee prepares to consider Kevin Warsh, Trump’s nominee to succeed Powell. Warsh’s hearing is scheduled for next Tuesday, but his confirmation remains uncertain. North Carolina Senator Thom Tillis has pledged to block the nomination until the ongoing federal criminal probe into Powell’s conduct concludes. If the Senate fails to confirm a new chair, Powell would remain at the helm until a successor is appointed, extending the period of tension between the White House and the central bank. Trump also referenced a separate investigation into a costly Fed building renovation, noting that U.S. Attorney Jeanine Pirro has not indicated any change in the probe’s direction. However, a federal prosecutor later reported that the investigation uncovered no evidence of criminal wrongdoing. Critics argue that Trump’s broader agenda seeks to increase political control over the Fed’s seven‑member board, aiming to install members who share his economic outlook. Currently, the president has appointed three board members, and one seat—held by Governor Stephen Miran—has technically expired, which would need to be vacated for Warsh to join. Powell has framed the investigation as a pretext to undermine the Fed’s independence in setting monetary policy, a charge that resonates with concerns about preserving the central bank’s autonomy amid political pressure. Overall, the standoff highlights a clash between executive ambition and the institutional safeguards designed to keep monetary policy decisions insulated from short‑term political influence.

In a landmark decision, a Manhattan federal jury determined that Live Nation and its Ticketmaster subsidiary wield a monopolistic grip on major concert venues across the United States. The four‑day deliberation ended Wednesday with a finding that the ticket‑selling platform had overcharged buyers by $1.72 per ticket, a figure that will now be used by a judge to calculate total damages. The case, originally spearheaded by the federal government and later joined by dozens of states, accused Live Nation of leveraging its extensive venue network to stifle competition. Plaintiffs argued that the company barred venues from using alternative ticket sellers and retaliated against those that attempted to do so. Attorney Jeffrey Kessler, representing the states, called Live Nation a “monopolistic bully” that inflates prices for concertgoers. He cited the company’s control of 86% of the concert‑ticket market and 73% of the combined concert‑and‑sports market, underscoring the breadth of its influence. Live Nation, which reported over $22 billion in annual revenue, rejected the monopoly label, insisting that pricing decisions rest with artists, sports teams, and venue owners. Company counsel argued that the firm’s size reflects “excellence and effort,” not antitrust violations. The jury’s finding arrives amid a broader regulatory push. In 2024, the Federal Trade Commission required Ticketmaster to disclose ticket fees up front, prompting the company to eliminate a post‑checkout processing charge. However, a recent Guardian investigation revealed that Ticketmaster introduced alternative fees to offset lost revenue, raising questions about compliance with FTC rules. Earlier, the Department of Justice settled with Live Nation under the Trump administration, creating a $280 million settlement fund for participating states. The agreement also imposed caps on service fees at select amphitheaters and opened the door—though not the obligation—for venues to work with Ticketmaster rivals such as SeatGeek and AXS. More than 30 states declined the settlement and pursued the trial, arguing that the federal government’s concessions were insufficient. During the proceedings, Live Nation CEO Michael Rapino testified, including about the 2022 Taylor Swift ticket fiasco, which he attributed to a cyber‑attack. Internal communications from Live Nation executive Benjamin Baker surfaced, in which he described certain pricing practices as “outrageous” and disparaged customers as “so stupid,” later apologizing for the “very immature and unacceptable” remarks. Live Nation has announced its intention to appeal the verdict, stating confidence that the ultimate outcome will align with the original DOJ settlement framework. The case continues to spotlight the tension between dominant market players and antitrust enforcement in the live‑entertainment industry.

President Donald Trump announced on Fox Business that he will dismiss Federal Reserve Chair Jerome Powell if the central‑bank chief does not vacate the post by the statutory end of his term on May 15. “I’ll have to fire him, OK, if he’s not leaving on time,” Trump said, adding that he had previously held back the decision to avoid controversy. Powell, who has just over a month left in his tenure, has repeatedly been criticized by Trump for what the president calls a “bad job” and for refusing to lower interest rates despite Trump’s repeated demands since his return to the White House in January 2025. In January, Trump nominated former Fed governor Kevin Warsh to replace Powell. Warsh, known for his criticism of the Fed’s relatively high rates, is expected to align more closely with Trump’s push for rate cuts. His confirmation hearing before the Senate Banking Committee is slated for April 21, but the outcome remains uncertain. Republican Senator Thom Tillis of North Carolina, a member of the banking committee, has signaled he will block Warsh’s nomination until the Department of Justice concludes its criminal investigation into alleged misconduct surrounding the Fed’s headquarters renovation in Washington, D.C. Tillis described the probe as “reaching the point of absurd,” yet insists the investigation must be resolved before moving forward. The probe appears active: prosecutors made an unannounced visit to the construction site this week, as reported by the Wall Street Journal, underscoring the seriousness of the inquiry. During the same interview, Trump dismissed the investigation’s relevance, claiming the project was “probably corrupt, but what it really is is incompetence,” and questioned whether a $25 million renovation could balloon to a $4 billion expense. Powell responded in January with a rare public rebuke, labeling the investigation a “pretext” aimed at pressuring the Fed to lower rates. He warned that political intimidation could jeopardize the Fed’s ability to set monetary policy based on economic evidence. The legal backdrop adds another layer of uncertainty. The Supreme Court has yet to rule on Trump’s authority to fire a Fed board member without cause—a question that resurfaced after the president’s attempted removal of Fed governor Lisa Cook last summer. Justices appeared skeptical of such unilateral action during oral arguments in January. With the Fed’s independence at stake, the coming weeks will determine whether Trump’s threat translates into action, whether Warsh can secure Senate confirmation, and how the renovation investigation will influence the broader debate over political interference in U.S. monetary policy.

Narwhal Labs, a UK-based AI firm, has been accused of running a misogynistic and sexist advertising campaign. The company's ads, which include a woman next to the strapline 'She outworks everyone. And she'll never ask for a raise,' have sparked outrage and garnered at least seven complaints to the Advertising Standards Authority (ASA). The ASA is assessing the complaints to determine whether there are grounds for further action, although a formal investigation has not been launched. The ads, which can be found online, had been displayed on large banners at Bristol airport but were taken down after concerns were raised. Critics, including Kate Bell, assistant general secretary of the Trades Union Congress, and Rebecca Horne, head of communications and campaigns at Pregnant Then Screwed, have condemned the ads as sexist and misogynistic, perpetuating toxic stereotypes about women in the workplace. Narwhal Labs, which recently secured £20m in investment funding, has defended its campaign, stating that it was not intended to be perceived as misogynistic or racist. The company is calling for legislation to regulate the use of AI and protect workers' rights. The controversy highlights the need for greater accountability and regulation in the AI industry, particularly when it comes to advertising and its potential impact on society.

Former Treasury Secretary Janet Yellen sharply criticized President Donald Trump’s repeated calls for the Federal Reserve to slash borrowing costs, likening the approach to the fiscal tactics of a “banana republic.”Trump has publicly urged the central bank to deliver the lowest interest rate in the world, arguing that cheaper financing would ease the service burden on the United States’ staggering $39 trillion debt.Speaking at an HSBC investor summit in Hong Kong, Yellen asked, “How often does the president of a developed country demand that interest rates be set to reduce debt‑service costs? This is what you hear in a banana republic.” She warned that such political meddling could unleash inflation if the Fed’s independence is compromised.The Fed, under Chair Jerome Powell, last lowered its policy rate in December to a range of 3.5 %–3.75 %. However, policymakers are growing uneasy about inflationary pressures, especially as the ongoing Iran conflict threatens oil supplies.Powell is slated to step down next month, but his successor—Trump’s nominee Kevin Warsh—has yet to secure Senate confirmation. Powell has indicated he will remain in his role if a replacement is not confirmed, and he may continue as a Fed governor until a pending Department of Justice investigation concludes.Trump has openly dismissed the idea of Powell staying on, telling Fox Business that he would “have to fire him” if the chair does not leave. Powell, for his part, describes the DOJ probe as a “pretext” aimed at pressuring the Fed to cut rates.Warsh, who argues that potential productivity gains from artificial intelligence could justify lower rates, faces skepticism from Yellen, who doubts he commands the same respect as former Fed chair Alan Greenspan. She noted, “Greenspan was widely respected for his expertise; I don’t think Warsh walks in with that level of credibility.”Trump’s broader effort to reshape the Fed board includes an attempt to remove Governor Lisa Cook, who is currently facing a Supreme Court case over alleged mortgage fraud.Meanwhile, finance ministers and central bankers have gathered in Washington for the International Monetary Fund’s spring meetings. Bank of England Governor Andrew Bailey warned that rising oil prices, driven by the Iran conflict, constitute a “major supply shock” that central banks must assess carefully.The IMF has cautioned that a prolonged closure of the Strait of Hormuz could trigger a global recession, underscoring the interconnected risks of geopolitical tensions, sovereign debt, and monetary policy decisions.