Former Fed chairs condemned a federal probe into Jerome Powell, warning it risks undermining central bank independence. Economists echoed the rebuke and flagged concerns over potential pressure on rate-setting. Donald Trump said he had no knowledge of the inquiry.
Brussels is seeking a “Farage clause” in a Brexit reset: any new UK–EU pact would include a financial penalty if a future government withdraws, including under pressure from Reform. The aim is a durable framework for trade and cooperation, reducing the scope for repeated renegotiation.
Iran has intensified its response to widespread unrest, alleging some protesters act for foreign interests. Authorities have imposed an internet blackout, expanded arrests and warned of severe penalties, as officials seek to reassert control and deter further demonstrations.
Downing Street plans a reset with Brussels that sidesteps financial services. City firms, citing post‑Brexit reforms and the scale of the UK market, resist closer alignment and prefer domestic rule‑making. Some warn uncertainty could grow, while ministers aim to deepen cooperation in other areas.
Washington has seized a tanker and said it will control Venezuelan crude exports indefinitely, channelling revenues via US‑managed accounts. The move challenges Opec+ authority, aims to reshape oil flows and prices, and raises compliance risks for traders and firms dealing in Venezuelan barrels.
Venezuela’s crude output is nearing collapse after a US naval blockade throttled exports. With storage close to capacity, fields may be shut in within weeks. Sales have slumped as routes close, hitting state revenues and clouding foreign firms’ prospects.
Venezuelan assets rallied as Nicolás Maduro appeared in court after being removed from power. Bonds jumped on bets of debt talks and an oil‑sector revival, while US energy shares rose. He told the judge he was a “kidnapped president”. Markets priced in a possible transition and easing of sanctions.
Washington steps up pressure on Venezuela, keeping the option of further military action. Nicolás Maduro is due in a New York court after a weekend operation placed him in US custody, while senior US figures warn Havana it could face consequences for supporting Caracas.
After a US operation in Caracas, Nicolás Maduro and his wife were detained and taken to New York. Washington says it will oversee a transitional administration in Venezuela and restart oil output. The PM said Britain would shed no tears.
Tesla has been overtaken by BYD as the world’s top electric-car maker after a second annual drop in deliveries. BYD’s expanding range of affordable pure EVs and strong sales in its home market pushed it ahead. Tesla’s price cuts and model refreshes failed to offset weaker demand.