‘The dollar is losing credibility’: why central banks are scrambling for gold

Fifteen minutes after takeoff, the call came for Serbia’s central bank governor: millions of dollars’ worth of gold bars, destined for a high-security Belgrade vault, had been left on the runway of a Swiss airport.In air freight – despite the extraordinary value of bullion – fresh flowers, food and other perishables still take priority. “We learned this the hard way,” Jorgovanka Tabaković told a conference late last year.Serbia’s is among a growing number of central banks to hastily amass vast stockpiles of gold, upending decades of conventional economic logic and fuelling an increase in the gold price amid mounting geopolitical tensions. As Washington challenges the US Federal Reserve’s independence, sending jitters through financial markets, the price soared to a record $4,643 (£3,463) an ounce this week, and analysts have tipped it to break $5,000 this year

Bank of England governor hits out at populism as Trump interferes in US Fed

The governor of the Bank of England has urged the world’s leading global institutions to fight back against the rise of populism, warning that it represents one of the biggest threats to improvements in living standards.In a thinly veiled response to Donald Trump’s attempts to interfere with the independence of the US Federal Reserve, Andrew Bailey said that he and the heads of other institutions had a duty to “challenge back” populist narratives.“Part of the purpose of international agencies is that from time to time they have to tell us what we don’t want to hear, let alone act upon,” he said. “Of course, they have to be accountable for the accuracy and quality of the assessment. But, accepting that, we have to call out messenger shooting

ChatGPT to start showing ads in the US

ChatGPT will start including advertisements beside answers for US users as OpenAI seeks a new revenue stream.The ads will be tested first in ChatGPT for US users only, the company announced on Friday, after increasing speculation that the San Francisco firm would turn to a potential cashflow model on top of its current subscriptions.The ads will start in the coming weeks and will be included above or below, rather than within, answers. Mock-ups circulated by the company show the ads in a tinted box. They will be served to adult users “when there’s a relevant sponsored product or service based on your current conversation”, according to OpenAI’s announcement

Amazon workers at Coventry warehouse tested for tuberculosis after outbreak

Amazon is testing workers at its Coventry warehouse for tuberculosis after an outbreak of the lung disease.A handful of workers from the site were found to have contagious tuberculosis (TB) last year, prompting the UK Health Security Agency (UKHSA) to begin running a screening programme in September.Amazon said 10 people at the site, which employs about 2,000 people according to the GMB union, had since tested positive for the non-contagious, or latent, variety of TB late last year.Some people have TB in their body but do not get ill or have any symptoms – this is known as latent TB. This variant cannot be spread to others, but it can turn into active, contagious TB in the future if it is not treated

Vergil Ortiz Jr sues Golden Boy in dispute tied to stalled Jaron Ennis talks

Vergil Ortiz Jr has filed a federal lawsuit against Golden Boy Promotions, seeking to end his relationship with Oscar De La Hoya’s company amid stalled negotiations for what he views as a career-defining fight against Jaron ‘Boots’ Ennis.Ortiz, the unbeaten World Boxing Council interim junior middleweight champion, filed the complaint on Thursday in US district court in Nevada, asking a judge to confirm that his promotional agreement with Golden Boy has been terminated and alleging that the promoter breached the contract and interfered with his earning potential.Golden Boy has promoted the Texan since his professional debut in 2016 and signed him to a new three-year deal in May 2024. Ortiz’s lawsuit, a copy of which has been obtained by the Guardian, argues that the agreement allowed him to walk away if Golden Boy’s broadcast partnership with Dazn ended – a condition he says was triggered when the promoter’s deal with the streamer expired on 31 December.According to the complaint, Ortiz formally exercised his right to terminate the agreement on 8 January

Lewis Hamilton to get new engineer as Adami replaced in Ferrari shake-up

Ferrari have announced they are to replace Riccardo Adami as Lewis Hamilton’s race engineer for the 2026 Formula One season, after the pair endured what appeared to be a fractious and testing relationship during the seven-time world champion’s first season with the Scuderia.Ferrari issued a statement on Friday stating Adami would be moved to a new role with the team’s driver academy as academy and test previous cars manager, adding that his replacement as Hamilton’s race engineer, the crucial link between team and driver on the pit wall, would be announced in due course.During his first year with Ferrari, a trying season with the car well off the pace of the frontrunners and with Hamilton struggling to adapt to a new team, his relationship with Adami appeared to be far from easy. The pair endured several terse exchanges with Hamilton expressing frustration and confusion, notably in Monaco when he asked his engineer at the end of the race: “Are you upset with me or something?” He appeared to receive no reply.Hamilton dismissed speculation that the pair did not enjoy a good working relationship at the time as “BS” and said Adami had “been amazing to work with, he’s a great guy”