Jerome Powell to stay on Fed board after central bank holds rates steady in defiance of Trump

The US Federal Reserve chair, Jerome Powell, will remain on the central bank’s rate-setting board after his term as chair ends in May, a contentious move that signals continued uncertainty at the Fed.Powell made the announcement after the Fed board on Wednesday left interest rates unchanged for the third time this year, despite Donald Trump’s continued demands for rate cuts.Before Wednesday, Powell said he would step down from the board when the White House’s investigations into renovations at the Fed are “well and truly over with transparency and finality”. Powell’s term as chair ends on 15 May. His term as Fed governor ends in January 2028

US gas prices hit $4.23 high as Hormuz fears drive oil surge

Average US gas prices have hit a new high at $4.23 a gallon, their highest since 2022 and a record since the start of the war with Iran, according to the motor club AAA.The price of Brent crude, the benchmark that influences the price of gasoline in the US, now stands at $114.60 a barrel, up nearly 25% from the recent low since mid-April. US gas prices a year ago averaged $3

‘Your questions are designed to trick me’: combative Musk grilled over battle with Sam Altman

After a dramatic first day of opening statements and testimony from Elon Musk in his case against Sam Altman and OpenAI, the trial continued on Wednesday with a cross-examination of the Tesla CEO. Musk began his second day of on the stand by repeating the accusation that Altman “stole a charity” and would endanger humanity with AI multiple times. OpenAI’s attorneys pressed the world’s richest man on his allegations, resulting in testy exchanges and multiple interventions from the judge.Musk often refused to answer questions as instructed, and the judge interjected several times to tell Musk to simply give a yes-or-no response. At various points, Musk told OpenAI’s counsel, “You’re being misleading with your question,” and “Your questions are not simple, they are designed to trick me, essentially

Maryland becomes first state to ban surveillance pricing in grocery stores

Maryland has become the first state in the US to ban surveillance pricing in grocery stores.Maryland’s law bans grocers and third-party delivery services from using a person’s personal data to set higher prices. Wes Moore, the governor, signed the measure into law on Tuesday. “At a time when technology can predict what we need, when we need it, when we’ll pay for it and also – when we’ll pay more for it, and at a time when we’re watching how big companies are then using these analytics against us to make record profits, Maryland is not just pushing back. Maryland is pushing forward because we are going to protect our people,” Moore said at the bill signing ceremony

AFL player Nathan O’Driscoll opens up on depression and mental health struggles

The family and teammates of Nathan O’Driscoll have expressed love and support for the Fremantle midfielder after he posted an unfiltered account on social media of his mental health challenges.The 23-year-old, who has played just twice this year for his home town club the Dockers, shared on Instagram that he has been close three times to committing suicide, and that recent weeks have been especially challenging after the death of someone close to him.“I’m sharing this because speaking up matters. No one is there to judge you, every person I’ve opened up to has supported me in ways I never expected,” he said.“From the outside, it might look like I have everything, but what’s going on internally can be a very different story

LIV Golf poised to inform players that Saudi funding will end this year

LIV Golf executives are poised to confirm to players that Saudi Arabia’s funding of the circuit will cease at the end of 2026, in a move that will begin a scramble between some leading names in the sport to return to traditional tours.Without an alternative and unlikely funding source from 2027 onwards, LIV in its current form is staring at closure just four years on from staging its first tournament. Nothing has materially changed for LIV in recent weeks yet formal admission of an upcoming Saudi exit will be viewed as a key moment in a disruption story that is heading towards a messy finale.The Saudi Public Investment Fund, which has ploughed more than $5bn (£3.7bn) into LIV, informed the tour’s management of a change in approach during meetings in New York immediately after the conclusion of this month’s Masters