Criminal investigation into Fed chair Powell has ‘reinforced’ concerns over independence, Goldman Sachs warns – business live

Goldman Sachs’ chief economist Jan Hatzius has warned this morning that the criminal indictment threat facing Federal Reserve chairman Jerome Powell has reinforced worries that central bank independence is being undermined.Reuters reports that Hatzius told a 2026 Goldman Sachs Global Strategy Conference:“Obviously there are more concerns that Fed independence is going to be under the gun, with the latest news on the criminal investigation into Chair Powell really having reinforced those concerns.”Hatzius added, though, that he expected the Fed to continue to make decisions based on data:“I have no doubt that he (Powell) in his remaining term as chair is going to make decisions based on the economic data and not be influenced one way or the other, cutting more or refusing to cut on the back of data that could push in that direction.”Long-dated US government bond prices have dropped today, as investors react to the Fed situation.This has pushed up the yield, or interest rate, on 30-year US Treasury bonds by almost 5 basis points (0

JD Sports plans to let shoppers buy through AI platforms

JD Sports has said it plans to allow customers to buy its products directly through AI platforms without leaving the apps.The British trainer and sportswear company will allow “one-click purchases” through platforms such as ChatGPT and Microsoft Copilot, as big retailers attempt to keep up with AI-powered shopping.The technology will launch in the US in the coming months, with potential to expand into other regions, the company said.Jetan Chowk, the JD Sports chief technology officer, told PA Media that AI was “the future of how people will shop”.“What we are currently seeing is that customers are regularly using AI apps to research and discover the products they want to buy,” he said

Ofcom investigating Elon Musk’s X after outcry over sexualised AI images

The UK media watchdog has opened a formal investigation into Elon Musk’s X over the use of the Grok AI tool to manipulate images of women and remove their clothes.Ofcom has acted following a public and political outcry over a deluge of sexual images appearing on the platform, created by Musk’s Grok, which is integrated with X.The regulator is investigating X under the Online Safety Act, which carries a range of possible punishments for breaches, including a de facto UK ban of apps and websites for the most serious abuses.“We have decided to open a formal investigation to establish whether X has failed to comply with its legal obligations under the Online Safety Act,” said Ofcom.

UK threatens action against X over sexualised AI images of women and children

Elon Musk’s X “is not doing enough to keep its customers safe online”, a minister has said, as the UK government prepares to outline possible action against the platform over the mass production of sexualised images of woman and children.Peter Kyle, the business secretary, said the government would fully support any action taken by Ofcom, the media regulator, against X – including the possibility that the platform could be blocked in the UK.Kyle said Ofcom had received information it had requested from X as part of a fast-tracked investigation into the use of platform’s built-in AI tool, Grok, to generate large numbers of manipulated images of people, often depicting them in minimal clothing or sexualised poses.The technology secretary, Liz Kendall, who said on Friday that she expected action from Ofcom within days, is due to give a statement to the Commons on Monday afternoon.Kyle told Sky News: “Let me be really clear about X: X is not doing enough to keep its customers safe online

Brilliant, battered and unkillable: Josh Allen lurches towards the Super Bowl

The Buffalo Bills quarterback is not only a danger to opponents. His bravery and skill inspires his teammates to elevate their playTwo things about the NFL playoffs are predictable: Josh Allen will play out of his skin ... and Josh Allen will suffer a soul-sucking, stupefying loss

49ers dethrone Eagles; Bills beat Jaguars in thriller: NFL playoffs wildcard round – as it happened

And here is the playoff bracket as it stands, as I bid you goodnight! What a start to the postseason.49ers 23-19 Eagles, final scoreAnother fourth-quarter frenzy sees the 49ers comeback from 16-10 down. A really limp showing from the Eagles to only find 114 yards of offense and two field goals in the second half with the season on the line.Did Nick Sirriani’s blow up with AJ Brown in the first half affect the outcome? Brown did not make a catch after the first quarter and made a crucial drop in the final drive.49ers 23-19 Eagles 0:40, 4th quarterPressure