Hong Kong's ICAC received 1.5 times more corruption complaints about building renovations in early 2024 vs. last year, following public concern over bid-rigging after a fatal fire. The ICAC has doubled investigators to 100.
Hong Kong's ICAC received 1.5 times more corruption complaints about building renovations in early 2026 vs. last year, following public concern after the Wang Fuk Court fire. The ICAC doubled investigators to 100.
Fed Chair Jerome Powell announced he will remain on the rate-setting board after his term ends May 15, defying Trump demands for rate cuts. The Fed held interest rates unchanged for the third time this year, citing elevated inflation and slow job growth. Meanwhile, the Senate banking committee confirmed Kevin Warsh as Powell's potential successor, who is expected to be more amenable to Trump's rate cut calls. Powell cited ongoing investigations into Fed renovations as reason to stay.
Federal Reserve Chair Jerome Powell announced he will remain on the rate-setting board after his term ends May 15, citing ongoing investigations into Fed renovations. The Fed held interest rates unchanged for the third time this year, citing elevated inflation and slow job growth, despite continued pressure from Trump for rate cuts. The Senate banking committee confirmed Kevin Warsh as the next Fed chair, who is expected to be more amenable to Trump's rate cut demands.
The US Justice Department has ended its investigation into Federal Reserve chair Jerome Powell regarding extensive building renovations at the Fed's headquarters. US Attorney Jeannine Pirro announced the decision on Friday, stating the Fed's inspector general would handle scrutiny instead. The decision clears a major obstacle for Kevin Warsh's confirmation as Powell's successor, with Powell's term expiring May 15. A judge had previously quashed subpoenas, noting prosecutors produced essentially zero evidence of a crime.
Italian PM says the EU should act responsibly, not spend money on refurbishing the Justus Lipsius building.
