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US justice department drops probe into Fed chairman Jerome Powell

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The US justice department is dropping its investigation into the Federal Reserve chairman, Jerome Powell, over alleged building cost overruns.

US Attorney Jeanine Pirro said instead there would be an internal investigation led by the central bank's inspector general.

President Donald Trump has said the cost of the Fed's building renovations were too high, as part of a long-standing feud with Powell.

Powell's term is nearing its end and the US Senate is considering Trump's nominee for his replacement, Kevin Warsh. A key Republican, Thom Tillis, has withheld his support for Warsh unless the Trump administration would drop its investigation into Powell.

"American taxpayers deserve answers about the Federal Reserve's fiscal mismanagement, and the Office of the Inspector General's more powerful authorities best position it to get to the bottom of the matter," said White House spokesman Kush Desai in a statement.

"The White House remains as confident as before that the Senate will swiftly confirm Kevin Warsh as the next Federal Reserve Chairman to finally restore competence and confidence in Fed decision-making."

In her post on X, Pirro said she would not "hesitate to restart a criminal investigation should the facts warrant doing so".

The inspector general's office said it was "actively working to complete our review, and look forward to making the results available to the public and Congress upon completion", declining to comment on a timeline.

Trump called for the Fed to lower interest rates after returning to office last year, and then began floating the idea of firing Powell – a step some said could be illegal.

Amid months of attacks, he branded Powell a "knucklehead" and claimed he was "doing a lousy job" after his repeated calls for rate cuts were ignored.

Last summer, Trump criticised the ballooning costs of the renovations, arguing it will cost $3.1bn (£2.3bn), much higher than the Fed's $2.5bn forecast. The Fed has said the renovations will reduce its costs over time.

Powell took the highly unusual step of releasing a video in January disclosing that the justice department had served the Fed with subpoenas and threatened a criminal indictment over testimony he gave to a Senate committee about renovations to Federal Reserve buildings.

Calling the investigation "unprecedented", Powell said he believed it was opened due to Trump's anger over the Fed's refusal to cut interest rates despite repeated public pressure from the president. Trump said he did not "know anything" about the investigation.

It marked the first time Powell had publicly and robustly pushed back against the US president, as he warned that the independence of the US central bank was at stake.

"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," Powell said.

Lower interest rates make it cheaper to borrow, while higher rates dampen spending activity, helping to keep prices stable.

Trump, who cut his teeth professionally taking out loans as a property developer, has long confessed to liking a low interest rate policy.

He objected when the Fed raised rates in his first term, and has argued keeping rates too high could do unnecessary economic damage.

The Fed buildings being renovated are the Eccles and 1951 Constitution Avenue. The "overhaul and modernisation" will be the first works since they were constructed in the 1930s, and includes removal of asbestos and lead contamination.

Powell was nominated by Trump for the role as Fed chair in 2017 during his first term as president.

Last week, Trump threatened to fire Powell if he does not step aside at the end of his term next month.

Powell's term expires on 15 May, but he is planning to remain in post until his successor, Warsh, is confirmed by the Senate.

📰 மூல செய்தி (Source): https://www.bbc.com/news/articles/cdxd1v0028vo?at_medium=RSS&at_campaign=rss

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Trump warns Taiwan against declaring independence, hours after summit with China's Xi

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Donald Trump has cautioned Taiwan against formally declaring independence from China.

"I'm not looking to have somebody go independent," the US president told Fox News on Friday, at the end of his two-day summit with his Chinese counterpart Xi Jinping in Beijing.

Trump earlier said he had "made no commitment either way" about the self-governing island – which China claims as part of its territory and has not ruled out taking by force.

The US has long supported Taiwan, including being bound by law to provide it with a means of self-defence, but has frequently had to square this alliance with maintaining a diplomatic relationship with China.

Washington's established position is that it does not support Taiwanese independence, with continued ties with Beijing being contingent on its acceptance that there is only one Chinese government.

Many Taiwanese consider themselves to be part of a separate nation – though most are in favour of maintaining the status quo in which Taiwan neither declares independence from China nor unites with it.

In his interview with Fox News, Trump reiterated that US policy on the matter had not changed.

"You know, we're supposed to travel 9,500 miles (15,289km) to fight a war. I'm not looking for that. I want them to cool down. I want China to cool down."

On the flight back to Washington, the US president had told reporters that he and Xi had spoken "a lot" about the island, but said he had declined to discuss whether the US would defend it.

Xi "feels very strongly" about the island and "doesn't want to see a movement for independence", Trump said.

"The Taiwan question is the most important issue in China-US relations," Xi warned during the talks, according to Chinese state media, adding: "If mishandled, the two nations could collide or even come into conflict."

Asked if he foresaw a conflict with China over Taiwan, Trump had said: "No, I don't think so. I think we'll be fine. [Xi] doesn't want to see a war."

China has ramped up military drills around the island in recent years, raising tensions in the region and testing the balance that Washington has struck.

Late last year, the Trump administration announced an $11bn ($8bn) package of weapons to be sold to Taiwan, including advanced rocket launchers and a variety of missiles, which Beijing condemned.

Trump said he would soon decide whether that sale could go ahead, adding that he and Xi had discussed it "in great detail" and that he would speak to Taiwan's President Lai Ching-te first.

"I may do it. I may not do it," he told Fox News.

"We're not looking to have wars, and if you kept it the way it is, I think China's going to be OK with that. But we're not looking to have somebody say, 'Let's go independent because the United States is backing us'."

The US has previously provoked anger from China for seeming to soften its stance on independence.

Its State Department dropped a statement from its website reiterating Washington's opposition to Taiwanese independence in February 2025 – something Beijing said "sends a wrong… signal to separatist forces".

US officials in Taiwan said at the time: "We have long stated that we oppose any unilateral changes to the status quo from either side."

Taiwan's Foreign Minister Lin Chia-lung said his team had been monitoring the US-China summit, and had maintained good communication with the US and other countries "to ensure the stable deepening of Taiwan-US relations and safeguard Taiwan's interests".

He said Taiwan had always been a "guardian of peace and stability" in the region and accused China of escalating risk with its "aggressive military actions and authoritarian oppression".

📰 மூல செய்தி (Source): https://www.bbc.com/news/articles/ce8p61v7l68o?at_medium=RSS&at_campaign=rss

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Burnham cleared to run for selection in pivotal by-election

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Greater Manchester Mayor Andy Burnham has been cleared to seek selection as Labour's candidate in a by-election which could pave the way for him to return to Westminster.

The mayor has been given the go-ahead by Labour's ruling National Executive Committee, which blocked his previous attempt to stand in a by-election in January.

If he is selected as the candidate in Makerfield, in the north-west of England, and goes on to win, Burnham is widely expected to try to replace Sir Keir Starmer as prime minister.

The prime minister is continuing to resist calls to stand down and set a timetable for his departure and is expected to fight any challenge from Burnham or other likely contenders.

The Makerfield constituency became vacant on Thursday, when Labour MP Josh Simons said he would resign to make way for Burnham.

The BBC understands the by-election is likely to take place on 18 June.

On Friday, the prime minister was in a police control centre in London but did not take questions from the media.

Steve Reed, the housing secretary and an ally of the PM, said: "It's been a very difficult week but we need to take a breath now, take this weekend to reflect on what's going on, and come back next week and focus on the country we were elected to serve."

Events have calmed down after a frenetic week of political activity which has seen the prime minister defy calls to step down, following his party's disastrous election results.

Nearly 90 Labour MPs have urged Sir Keir to go and five ministers have resigned but a leadership race cannot be triggered until someone, with the backing of 81 Labour MPs, formally challenges the prime minister.

Under Labour Party rules, Burnham is unable to join a leadership contest unless he becomes an MP.

Announcing his decision to apply to stand in Makerfield, Burnham said he wanted to "bring the change we have brought to Greater Manchester to the whole of the UK and make politics work properly for people".

He added that he would "not take a single vote for granted".

Applications to enter the process to become Labour's candidate close on Monday 18 May and a selection meeting will take place on 21 May.

Traditionally, Makerfield has been a safe Labour seat, but more recently has been leaning towards Reform UK and, if selected, it could prove a tricky race for Burnham to win.

Wes Streeting has been seen as a potential leadership candidate and speculation that he would launch a challenge mounted on Thursday when he resigned as health secretary.

Streeting called for a broad debate about what comes next but did not say he would run for leader.

His allies say he has the support of the 81 Labour MPs needed to enter a race.

In a post on social media, Streeting said he welcomed Burnham returning to Parliament, saying: "We need our best players on the pitch."

Former Deputy Prime Minister Angela Rayner has told the Guardian newspaper that she did not rule out running but would not "trigger" a leadership race.

Conservative leader Kemi Badenoch said: "Andy Burnham wants to rock up and just be prime minister despite being out of Parliament for a decade."

Reform UK's deputy leader Richard Tice said his party would be "throwing everything possible" to ensure a "seismic" win in the by-election.

The Green Party said: "We've learnt from our campaigning and wins in Gorton and Denton and the recent local elections, and we've shown we can beat Reform."

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Man arrested after referee Beaton and family put under police surveillance

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John Beaton was the referee at Fir Park on Wednesday evening

The Scottish FA says referee John Beaton and his family "spent last night at home under police surveillance following a leak of personal details online".

The association says that it is calling for "tolerance and perspective to prevent any further, unthinkable escalation".

And Police Scotland have confirmed a man, 19, has been arrested "in connection with a data protection offence".

Beaton has faced criticism following the award of a late penalty, which was converted, in Celtic's 3-2 win at Motherwell on Wednesday.

The incident at Fir Park, which involved VAR, was the latest in a series of controversial refereeing decisions as the Scottish Premiership title race reaches its conclusion.

Celtic's win kept them within a point of leaders Hearts. Those two sides meet at Celtic Park in Saturday's final top-six fixtures.

"The Scottish FA condemns in the strongest possible terms attempts to compromise the safety of match officials," said the SFA, which organises refereeing in the SPFL.

"Such vigilantism, motivated by decisions perceived to be right or wrong on a field of play, is a scourge on our national game and we are grateful to Police Scotland for their swift intervention.

"As we approach what should be an exciting finale to the season, we ask those who have personalised and hyperbolised their opinions, those who have sought the easy way out by attributing defeats to perceived refereeing errors, and those who have approved incendiary statements and posts to reflect on their contribution to creating an environment of intimidation, fear and alarm."

Police Scotland said in their statement: "Officers investigating a complaint of personal information being shared online relating to a Scottish football official, have arrested a 19-year-old man in connection with a data protection offence. Enquiries are continuing."

The impossible job? The pressure of refereeing Scotland's title decider

The SFA cited those they see as responsible for an escalation in tensions.

"We are also clear, sadly, that this is the inevitable consequence of the heightening criticism, intolerance and scapegoating demonstrated this season by media pundits, supporters, official supporters' groups, clubs, players, managers and former match officials," it said.

"We do not make that point lightly as the national association. Yet it is an inconvenient truth. Those who have sought to apportion blame and conspiracy towards match officials to deflect from defeats or perceived injustices throughout the season have contributed to an environment that puts the safety of our staff and match officials in jeopardy.

"This is the consequence of a hysterical media narrative, fuelled by irresponsible knee-jerk post-match media interviews, commentary and official social media posts.

"The cumulative effect impacts on our ability to provide enough referees to service our game at all levels. When it compromises the safety and wellbeing of our most senior match officials, enough is enough."

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The SFA insisted their officials "are not infallible".

And they added: "Mistakes will be made on the field, and subjective calls made in front of the VAR monitor, just as managers will pick the wrong team, goalkeepers concede soft goals and strikers miss from five yards out. Yet the reaction to these inevitabilities could not be more contrasting.

"What happened yesterday is not an isolated incident. There are many examples of match officials being placed in harmful situations but with individuals fearful of speaking out lest it exacerbates the situation or causes further alarm to friends, family and colleagues.

"We will not allow this to become the norm. We will not allow a situation where match officials require special provision to protect their children at school to be considered an occupational hazard. We will not allow a situation where staying at home with the front door locked and avoiding the hazards of public interaction becomes a coping strategy.

"The Scottish FA will be seeking to strengthen its rules to better protect those integral to the game and urge those who will doubtless join us in condemning incidents like this to support those proposals, not contribute to their watering-down on the basis of self-preservation.

Celtic score controversial late penalty to set up epic final day

📰 மூல செய்தி (Source): https://www.bbc.com/sport/football/articles/c87qye8yjg2o?at_medium=RSS&at_campaign=rss

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