Judge blocks justice department from subpoenaing Fed chair Jerome Powell

A federal judge on Friday blocked the justice department from serving subpoenas to Federal Reserve chair Jerome Powell in an inquiry purported to be about the management of the central bank’s renovation.Powell disclosed the surprise investigation on 11 January, and described the move as a threat to Fed independence and part of the Trump administration’s attempts to pressure the Fed to cut rates.The judge agreed, saying a “mountain of evidence” suggests the investigation was to pressure the Fed chair to lower rates or resign.“The government has produced essentially zero evidence to suspect Chair Powell of a crime; indeed, its justifications are so thin and unsubstantiated that the Court can only conclude that they are pretextual,” chief judge James Boasberg of the DC district court wrote on Friday.Tom Tillis, a Republican US senator, said on Friday an appeal by the Trump administration in a justice department case involving Powell “will only delay the confirmation of Kevin Warsh as the next Fed chair”

Oil price shock likely to ‘push the UK economy into recession’; US growth revised down – as it happened

The oil price shock hitting the global economy could push the UK into recession, Tomasz Wieladek, chief European macro economist at investment managent firm T. Rowe Price, is warning this morning.Wieladek says the UK’s economy’s failure to grow in January show that it was weak even before the oil shock, which is likely to hit consumer spending and create more cost of living pressures.Following today’s weaker-than-expected GDP report, Wieladek writes:double quotation markUK GDP growth stagnated in January, far weaker than market expectations of a 0.2% month-on-month pickup

Apple cuts China App Store commission fees after government pressure

Apple announced late on Thursday it would lower the commission fees collected in its App Store in mainland China. The move follows pressure from regulators in the tech company’s second-largest market, as well as global scrutiny of its payment requirements.Fees for in-app purchases and paid transactions will be lowered to 25% from 30% starting on Sunday, Apple said in a statement on its blog for developers.“Apple is making changes to the App Store in China following discussions with the Chinese regulator,” the company’s announcement reads. “As of March 15, 2026, changes will be made to the commission rates that apply to the China mainland storefront of the App Store on iOS and iPadOS

Anthropic-Pentagon battle shows how big tech has reversed course on AI and war

The standoff between Anthropic and the Pentagon has forced the tech industry to once again grapple with the question of how its products are used for war – and what lines it will not cross. Amid Silicon Valley’s rightward shift under Donald Trump and the signing of lucrative defense contracts, big tech’s answer is looking very different than it did even less than a decade ago.Anthropic’s feud with the Trump administration escalated three days ago as the AI firm sued the Department of Defense, claiming that the government’s decision to blacklist it from government work violated its first amendment rights. The company and the Pentagon have been locked in a months-long standoff, with Anthropic attempting to prohibit its AI model from being used for domestic mass surveillance or fully autonomous lethal weapons.Anthropic has argued that giving in to the DoD’s demands to permit “any lawful use” of its technology would violate its founding safety principles and open up its technology for potential abuse, staking an ethical boundary that others in the industry must decide whether they want to cross

Borthwick and Itoje fight for their futures as England seek redemption in Paris

It is a decade since England beat France across the Channel in the Six Nations and with results spiralling downwards the pressure is on to avoid their worst-ever finish Plenty of water has flowed down the Seine since England were last at the Stade de France for the business end of the 2023 Rugby World Cup. Back then they came within a point of beating South Africa – the eventual champions – in the semi-final before winning the bronze final against Argentina the following Friday. Their gameplan may have been strictly limited but the outlook seemed rosy for Steve Borthwick’s side.Now, almost 29 months later, England find themselves back at base camp. The rigid gameplan that was supposed to evolve to suit the players available has been increasingly rumbled and results have spiralled downwards

Keegan Bradley ‘still heartbroken’ by Ryder Cup loss but open to returning as USA captain

Keegan Bradley has admitted to still being “heartbroken” by his American Ryder Cup team’s loss at Bethpage last year. Bradley is also keen to retain the US captaincy at Adare Manor next September, should Tiger Woods knock back the opportunity.Luke Donald and Europe were set for a Bethpage rout before a rousing US recovery on day three. The visitors still won the trophy for a second time in succession. Bradley, who has returned to playing duties on the PGA Tour, remains wounded by the event and, as is the case with all Ryder Cups, the losing captain has been subject to heavy criticism