Author: Press Room

Three officials have been terminated from the Corporation for Public Broadcasting, the nonprofit that oversees the funding for public television and radio, according to a lawsuit filed Tuesday against the Trump administration.Three members of the group’s Board of Directors, Tom Rothman, Diane Kaplan and Laura Ross, said in a court filing that President Trump doesn’t have the authority to fire them.”Indeed, under the Act, Congress made it clear that it the CPB is a private corporation, over whom the President has no authority save the ability to nominate members of the Board of Directors, with the advice and consent of…

The labor market remained sound in March, with job openings declining but layoffs remaining near record lows, while rates of new hiring were slow but steady, according to data released by the Bureau of Labor Statistics on Tuesday.The numbers from last month are a snapshot of the state of the U.S. economy and labor market before the start of the global trade volatility brought on by President Trump’s tariff campaign.“It reflects a labor market that ‘could have been,’ given the damage tariffs will do,” argued Guy Berger, the director of economic research at the Burning Glass Institute, which studies the…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The UK government decided to seize control of British Steel before it had assessed the costs to taxpayers, raising questions over the ultimate price of saving the country’s last two blast furnaces.Jonathan Reynolds, business secretary, issued a “ministerial direction” to override concerns from his own civil servants in order to maintain the struggling steelmaker’s operations at its main site in Scunthorpe, Lincolnshire, letters published on the government’s website show. Ministers intervened in early April by passing emergency legislation to seize control of…

Stay informed with free updatesSimply sign up to the Financial & markets regulation myFT Digest — delivered directly to your inbox.The Bank of England’s top financial supervisor has said it is monitoring the impact on lenders of Donald Trump’s sweeping tariffs, with an expected economic slowdown likely to lead to higher provisions for loan defaults. Sam Woods, chief executive of the BoE’s Prudential Regulation Authority, said the regulator had stepped up monitoring of banks during the market volatility triggered by the US president’s “liberation day” tariffs, without yet moving to the “highest level” of requiring daily liquidity reports from lenders.“We…

Last month, Paolo Ardoino, the chief executive of the cryptocurrency company Tether, joined business executives and U.S. lawmakers for a private lunch at the Willard, a luxury hotel near the White House.For years, Tether had faced accusations that it lied about its finances and allowed crime to flourish on its platform. But at the Willard, Mr. Ardoino and other crypto leaders were warmly greeted by Senator Bill Hagerty, a Tennessee Republican on the Senate Banking Committee, who attended the lunch and participated in a group discussion about digital currency regulations and national security, according to four people with knowledge of…

Travelers to Europe, mark your calendars (and bring your raincoats). On June 15, activist groups across southern Europe are planning to stage protests against tourism. Although the precise form of those demonstrations has not been decided, it’s a pretty safe bet that water guns will be involved.At workshops held in Barcelona last weekend that brought together about 120 activists from Venice; Lisbon; Palermo, Italy; and a dozen other cities, leaders of the Southern Europe Network Against Touristification, called for a coordinated day of actions to raise awareness about what they called “the urgent need to limit the growth of tourism.”…

Very early on a fall morning in 2017, F.B.I. agents knocked down the front door of a home in Atlanta with a battering ram. Guns drawn, they set off a flash-bang grenade and charged inside.The couple who lived there, Hilliard Toi Cliatt and Curtrina Martin, barricaded themselves in a closet. The agents dragged Mr. Cliatt out at gunpoint and handcuffed him. They told Ms. Martin to keep her hands up as she pleaded to see her 7-year-old son, who had been asleep in another room.As they questioned Mr. Cliatt, he gave his address. It was different from the one the…

Voter turnout in Canada’s federal election was the highest it’s been since 2015, Elections Canada says. The Liberals regained the popular vote on Monday following two consecutive elections that saw them form minority governments but trail the Conservatives in the popular vote.According to preliminary results from Elections Canada, as of Tuesday at 12 p.m. eastern, Mark Carney’s Liberals received 43.5 per cent of the popular vote with 8,367,521 ballots cast.Pierre Poilievre’s Conservatives received 7,950,394 votes amounting to 41.4 per cent.That comes as the Liberals are projected to win 168 seats, while the Conservatives are projected to win 144.Monday’s election also…

Having chilled during the blackout Iga Swiatek has switched back on to advance to the quarter-finals of the Madrid Open.Swiatek defeated Diana Shnaider 6-0 6-7 (3-7) 6-4 to stay on track to defend her title in the Spanish capital.”I liked yesterday. I think the whole world was just more relaxed,” she said. “I enjoyed the time off, and I tried to just recover, because we need to savour these free days.”Swiatek said she took away food from the tournament site and relaxed at the hotel until the power came back on.”I just chilled and used that time to not think…

Check out the companies making headlines in midday trading: Spotify — Shares of the music streaming company lost 3.8% on the back of disappointing results. Spotify reported first-quarter operating income of 509 million euros, while analysts polled by FactSet expected 519.9 million euros. Spotify’s revenue of 4.2 billion euros was in line with estimates, while its monthly active users of 678 million met the company’s guidance. General Motors — Shares ticked down 2% after the automaker said it was reconsidering its full-year outlook due to concerns over tariffs and macroeconomic uncertainty. That admission overshadowed a better-than-expected earnings report for the…