Author: Press Room

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The UK government has already set aside almost £100mn to pay for its bailout of British Steel just weeks after taking control of its two blast furnaces from Chinese owner Jingye.Business secretary Jonathan Reynolds told the House of Commons on Thursday that £94mn of taxpayers’ money had gone towards keeping the factory running since it passed emergency legislation in early April to seize control of British Steel. The company, the last outfit to make steel from scratch in the UK, employs about…

Stay informed with free updatesSimply sign up to the US financial regulation myFT Digest — delivered directly to your inbox.A Republican plan to abolish the US regulator that oversees accounting firms risks damaging audit quality not just in America but around the world, according to the organisation’s chair.Erica Williams, head of the Public Company Accounting Oversight Board since 2022, said in an interview with the Financial Times that the plan would upend international agreements that allow US inspectors to examine audit firms in countries from China to the EU.The PCAOB was set up to oversee auditors of US-listed companies, regardless…

For nearly a decade, Bree Smith was a familiar face in Nashville. But, in January, the mom and former TV meteorologist stopped appearing on the local CBS-affiliated station — a decision she made after months of fighting against deepfakes, which are simulated online images or videos that can seem realistic. In Smith’s case, an image of her was doctored to create explicit pictures and videos, with her face edited onto different, partly nude bodies, and then used to try to extort money from others. “Sextortion” scams like this one have targeted tens of thousands of Americans in the past year alone,…

First Lady Melania Trump laughs as she watches US President Donald Trump cut with a saber into a cake representation of the new Air Force One design during the Commander-In-Chief inaugural ball at the Walter E. Washington Convention Center in Washington, DC, on Jan. 20, 2025.Patrick T. Fallon | AFP | Getty ImagesThe U.S. is working with L3Harris Technologies to modify a used Qatari government jumbo jet in what could become a new presidential plane, according to a person familiar with the matter who wasn’t authorized to speak to the media.The work comes after President Donald Trump earlier this year…

The airline has asked the Indian government for financial relief equivalent to its estimated losses.Air India expects to face about $600m in additional costs if a ban from Pakistan’s airspace lasts for a year and has asked the Indian government to compensate it for the hit. The New Delhi-based air carrier on Sunday asked the government for a “subsidy model” proportionate to the economic hit, estimating a loss of more than $591m (50 billion Indian rupees) for each year the ban lasts, according to a letter sent by the airline to the Ministry of Civil Aviation and seen by the…

The Department of Health and Human Services has transferred $500 million from research into next-generation COVID-19 vaccines, redirecting the money to a single vaccine project linked to the Trump administration’s former acting head of the National Institutes of Health.Multiple federal health officials said they were surprised by the announcement, which bypassed the usual procedures overseen by career scientists at the NIH and the Biomedical Advanced Research and Development Authority, known as BARDA. Those reviews are intended to ensure that federal research money goes to the projects with the greatest scientific merit. The HHS says the initiative, dubbed “Generation Gold Standard,” aims…

A former New Mexico judge and his wife, who are accused of harboring a Venezuelan gang member in their home, have been released from jail on bond.Former Doña Ana County Magistrate Judge Joel Cano and his wife, Nancy Cano, were arrested last month on charges of tampering with evidence after federal agents raided their Las Cruces home.Court records show they were released on $10,000 bond each on Tuesday under certain conditions.In January 2025, Homeland Security Investigations (HSI) officials received a tip that Cristhian Ortega-Lopez, an alleged member of the violent Venezuelan gang Tren de Aragua, a designated foreign terrorist organization,…

Check out the companies making headlines in midday trading: Meta Platforms — Shares of the Facebook parent jumped about 4% after the company beat earnings expectations . Meta signaled ongoing advertising resilience and upped its capital expenditures range to reflect more data center infrastructure investments, even amid macroeconomic uncertainty. The company also issued in-line guidance for the current period. Wayfair — The online home goods store gained nearly 2% after first-quarter results beat Wall Street’s estimates on the top and bottom lines. Wayfair notched an adjusted 10 cents per share on revenue of $2.73 billion, while analysts polled by LSEG…

Five months after the end of a nationwide strike, Canada Post workers could be returning to the picket lines as early as May 22 when the current collective agreements expire. The Crown corporation and the Canadian Union of Postal Workers (CUPW) returned to the bargaining table on Wednesday, after failing to come to a deal in March.“The Canadian Union of Postal Workers is back at the negotiating table with Canada Post working to secure new collective agreements for our urban and rural and suburban mail carriers bargaining units,” the union said in an email to Global News.Canada Post said in…

NEWYou can now listen to Fox News articles! Golfing great Phil Mickelson fired off on Senate Minority Leader Chuck Schumer, D-N.Y., on social media Wednesday over the Democratic leader’s criticisms of the Safeguarding American Voter Eligibility (SAVE) Act. Schumer on Wednesday criticized the Republican-backed legislation which passed in the House earlier this month. The bill would require voters to obtain proof of citizenship in person before they register for a federal election.  Senate Minority Leader Chuck Schumer, D-N.Y., speaks during a Congressional Gold Medal Ceremony honoring the U.S. Army’s 6888th Central Postal Directory Battalion, on Capitol Hill on Tuesday, April 29, 2025…