Trump’s push to cut interest rates has echoes of ‘banana republic’, says Yellen

Despite surprise fall in unemployment, weak wage growth and inflation pressures put the squeeze on workersUK unemployment shows surprise fall to 4.9%Business live – latest updatesDespite a surprise fall in the unemployment rate, the latest jobs data show the labour market in a fragile state, even before the Iran war threatened to derail the UK’s nascent economic recovery.At 4.9% in the three months to February, the unemployment rate was down from 5.2% in the previous three months, according to the Office for National Statistics. Continue reading...

Energy secretary says both he and the then foreign secretary were worried making Mandelson US envoy was riskyUK politics live – latest updatesEd Miliband and David Lammy discussed concerns about the appointment of Peter Mandelson as the UK’s ambassador to Washington which they feared could “blow up”, the energy secretary has revealed.Miliband said he had spoken to Lammy, who was foreign secretary at the time Mandelson was given the Washington post, with both expressing reservations. Continue reading...

The Kissing Booth’s Joey King and Game Of Thrones’ Maisie Williams star alongside the original cast members as the next generation of the cursed Owens familyGet our weekend culture and lifestyle emailThe midnight margaritas are officially back on the menu. Within 24 hours of its debut, the first official teaser for Practical Magic 2 has surged into the Google Trends top 10, attracting millions of views and signalling an enthusiastic appetite for the return of the Owens family and all things witchy.Academy Award winners Sandra Bullock and Nicole Kidman will return as sisters Sally and Gillian, with Kidman sharing a video of her and her fellow star on set last year, captioned: “The witches are back”. Continue reading...

Wilson is being sued for defamation by actor Charlotte MacInnes over social media posts alleging a sexual harassment complaintGet our breaking news email, free app or daily news podcastRebel Wilson was labelled “nuts” by a PR team she allegedly hired to create websites attacking a co-producer of her directorial debut, a court has heard.The Pitch Perfect actor directed, co-produced and acted in The Deb, a musical comedy set in rural NSW that remained unreleased for two years due to legal disputes. Continue reading...

Representatives from EU countries are meeting in Luxembourg todayJust as expected.Spain’s foreign minister José Manuel Albares has just confirmed that Spain, Slovenia and Ireland have requested a discussion on suspending the EU’s association treaty with Israel at today’s meeting of the bloc’s foreign ministers.“European Union has to say today very clearly to Israel that that change is needed. That’s not the right path, and that while Israel continues in that path of a permanent perpetual war, we will not be able to [run our relations] in the same way.” Continue reading...

Monarch says Elizabeth II would have been troubled by recent events but she believed ‘goodness will always prevail’King Charles has said his late mother, Queen Elizabeth II, would have been troubled deeply by current affairs as he paid a heartfelt tribute to her on what would have been her 100th birthday.In a video message to honour the nation’s longest-reigning monarch, he said she had “remained constant, steadfast and wholly devoted to the people she served”. Continue reading...

Robbins was forced out as Foreign Office permanent secretary over the Mandelson vetting revelations in the GuardianDonald Trump seems to be conducting his relationship with Keir Starmer chiefly by online trolling at the moment. He was at it again overnight, with a post on his Truth Social network saying that, when Starmer appointed Peter Mandelson as ambassador to the US, it was a “really bad pick”.Good morning. At 9am Olly Robbins will give evidence to the Commons foreign affairs committee about the appointment of Peter Mandelson as ambassador to the US. Until last week Robbins was permanent secretary at the Foreign Office and his predecessor but one in that office, Simon McDonald, was the man who terminated Boris Johnson’s career with a revelation showing that Johnson had lied about his knowledge of a sleaze allegation about a minister. Robbins is not expected to produce a bombshell on that scale, but his evidence will be moment of jeodpardy for Keir Starmer nevertheless.Back before Lord Mandelson was announced as the appointee, there was a process … within the Cabinet Office to make sure that the prime minister was aware of Lord Mandelson and the issues around his appointment. There was then a process of clearing his conflicts of interest, which the employing department [the Foreign Office] oversaw, which we have talked about. In parallel with that process, we also went through the standard UK national security vetting process for DV [developed vetting].By the time we are describing [when DV was carried out], it was clear that the prime minister wanted to make this appointment himself. Continue reading...

Police seek warrant for Bang Si-Hyuk over allegations he illegally gained millions in investor fraud schemeSouth Korean police said on Tuesday they were seeking to arrest Bang Si-Hyuk, the chair of the agency behind the K-pop band BTS, as they expand an investigation into allegations that he illegally gained more than $100m (£74m) in an investor fraud scheme.The Seoul metropolitan police agency confirmed it had asked prosecutors to request a court warrant for arresting Bang, founder and chair of HYBE. Continue reading...

ABF, which owns Kingsmill, Twinings and Patak’s, to demerge fashion chain to maximise shareholder returnsBusiness live – latest updatesPrimark is to break free from its sister food company, which owns Twinings, Kingsmill and Patak’s, next year despite warning that the conflict in the Middle East is likely to hit consumer spending.The fashion chain’s owner, Associated British Foods (ABF), confirmed the plan to split off Primark from the rest of the group, first mooted last year. Continue reading...

Zayne Jason William McMillan’s lawyer says client’s tirade was antisemitic but claims he ‘does not consider himself racist against Jewish community’ A man seen mimicking the Bondi beach terror attack before making slurs against Jewish people has been jailed.Zayne Jason William McMillan, 23, was heavily intoxicated when he and a friend went to Bondi beach, six weeks after the shooting, in which 15 people were killed. Continue reading...

ONS data for three months to February is not expected to alter Bank of England’s decision on interest ratesUnemployment in the UK unexpectedly fell in the three months to February, according to official figures – but the fallout from the conflict in the Middle East is expected to cause a rise in job cuts.The Office for National Statistics (ONS) said that the rate of unemployment was 4.9% in the three months to February. This compares with 5.2% in the three months to January, a rate that economists had expected to also see in February. Continue reading...

UK’s Rare Breeds Survival Trust says calf numbers of white park cattle last year were less than two-thirds of 2022 levelAn ancient breed of cattle whose ancestors are thought to have accompanied the Celts as they were pushed to Britain’s fringes by the Romans has been designated as urgently at risk by a UK conservation charity.Publishing its 2026 watchlist on Tuesday, the Rare Breeds Survival Trust moved white park cattle to its “priority” category as new calf numbers sank last year to less than two-thirds of their 2022 level. Continue reading...