Funds

Government announces a near tenfold increase but forces fear it will not cover anticipated cost of dedicated teamsKeir Starmer’s government has announced a near tenfold increase in funding for detectives hunting grooming gangs but has been warned by police that the amount will “likely fall short” of what is needed.Operation Beaconport, which was set up last year to review closed group-based sexual exploitation inquiries in England and Wales, will receive nearly £38m, a Home Office statement said – up from £4m given last year. Continue reading...

Republican said she hoped recent commutation of Tina Peters by governor would free up federal funding for clean drinking waterRepublican congresswoman Lauren Boebert suggested that Donald Trump blocked funds for a clean drinking water project in her state over the prosecution of election denier Tina Peters.Colorado’s governor, Jared Polis, commuted Peters’ nearly nine-year prison sentence on Friday, ordering her release on 1 June. The former Colorado county clerk had allowed unauthorized people to access voting records amid efforts to overturn the results of the 2020 election, in which Trump lost to Democrat Joe Biden. Continue reading...

• Global hedge funds ramped up investments in Asia, with weekly buying of South Korean, Japanese, and Taiwanese stocks reaching a 10-year high for the week ending May 7, according to a Morgan Stanley report. • The surge, the heaviest in over a decade in notional terms, was driven by clients across all regions and strategies targeting Asia's technology sector amid the AI boom. • Hedge funds' net exposure to Japan, South Korea, and Taiwan has risen to its highest since 2010, now at about 19% of global positioning, focusing on semiconductors and hardware in the AI supply chain.

• The National Endowment for Democracy has filed a lawsuit against the Trump administration over frozen or withheld federal funds that were previously approved by Congress. • This lawsuit is one of dozens filed against the administration by organizations challenging the administration's decision to freeze congressionally allocated funds. • The legal action highlights tensions between the executive branch's spending authority and Congressional budget appropriations authority.

Tuesday’s federal budget to include $500m to fund faster approvals for housing, energy and mining projects. Follow today’s news liveGet our breaking news email, free app or daily news podcastGood morning, Krishani Dhanji here with you. Friends, it’s budget week, and it has come very quickly if you ask me!We’re getting a few final announcements from the government before Jim Chalmers hands down his budget tomorrow. That includes some money to speed up environmental approvals to boost productivity (more on that in a moment). Of course, all the big-ticket items – including reforms to capital gains tax, negative gearing and trusts, have already been out for weeks. Continue reading...

Auditor found Sarah Wedl-Wilson approved payments of public money to groups that had not been fully vettedBerlin’s top culture official, British-born Sarah Wedl-Wilson, has stood down over a funding scandal involving the the irregular distribution of €2.6m in public money for programmes to fight antisemitism.As culture senator for the Berlin regional government, Wedl-Wilson had already sacked a state secretary in her department, Oliver Friederici, over the affair this week, but the opposition called him a mere scapegoat. Continue reading...

Victory for abortion rights groups as court finds state’s constitution guarantees a right to abortionA Pennsylvania court on Monday said that the state’s constitution guarantees a right to abortion while striking down a decades-long law banning the use of state Medicaid funds to cover abortion costs.The ruling by a divided seven-judge panel of the appellate-level commonwealth court is a major victory for Planned Parenthood and abortion clinic operators who first sued Pennsylvania over its Medicaid funding restrictions in 2019. Continue reading...

Bets placed on Middle East conflict has led to US firm experiencing big increase in volumePolymarket, the online prediction platform that hosts bets on events such as the Iran war, is in talks to raise $400m (£296m) at a valuation of up to $15bn.The company has gained notoriety in recent months over wagers placed on the Middle East conflict, including on the timing of US-Israel strikes against Iran, and on a US-Iran ceasefire, some of which appeared to bear signs of insider trading. Continue reading...

Claims system launches months after supreme court ruled Trump had no legal authority to impose tariffsSign up for the Breaking News US email to get newsletter alerts in your inboxThe Trump administration began on Monday accepting applications from businesses seeking refunds for more than $166bn in tariffs, months after the supreme court ruled that the president had no legal authority to impose them.The administration launched on Monday the digital claims system, named Cape, which they said in court filings could handle about 63% of affected import filings, with the remainder to follow. Continue reading...

• NIH awarded $500 million in grants on April 7, 2026, to 15 US institutions for CRISPR-based gene therapies addressing 100,000 Americans with sickle cell disease. • Phase 2 trials at Boston Children's show 94% pain crisis reduction; total funding supports 200 patients over five years. • Initiative responds to 17% US mortality drop goal by 2030; 'Breakthrough for underserved communities,' per NIH Director.

State-funded savings accounts set up for children at birth going unclaimed, with £1.5bn estimated to be sat in bank accountsAs Elle Middlemas approached her 18th birthday, she began wondering if she had a child trust fund, a government savings account given to all children born between 1 September 2002 and 2 January 2011, that can be accessed as soon as they officially hit adulthood.She quickly hit a dead end. She wasn’t sure if she was even owed the money and could find no information online. An email to HMRC seeking clarity led her nowhere. Continue reading...

• The Federal Reserve maintained the federal funds rate unchanged at 3.5%–3.75% during its March 2026 meeting, marking the second consecutive session without adjustment. • Policymakers cited solid economic expansion despite subdued job gains and elevated inflation above target levels. • The decision reflects caution amid global volatility, including Middle East conflicts driving oil prices up over 40% and renewed US trade frictions.

• Blue Owl Capital investors requested $5.4 billion in redemptions from two private credit funds amid accelerating outflows in the financial services sector. • The fund manager reversed its policy by capping redemptions at 5% to manage liquidity pressures effectively. • This development highlights rising concerns over private credit market stability amid broader economic uncertainties.

• U.S. Treasury Secretary Scott Bessent announced that 2026 tax filing season refunds are up more than 10% nationwide compared to last year, with working Americans poised for immediate take-home pay increases via withholding changes. • The gains stem from broader economic policies under President Trump, including Trump Accounts to expand benefits from the vibrant economy to more citizens. • This reflects efforts to return money to American workers, families, and businesses, ushering in a new era of growth amid strong IRS performance.

As the war in Iran continues, ministers debate several options for extending support to households Middle East crisis – live updatesFamilies hardest hit by the looming energy crisis caused by the conflict in the Middle East could be given funds dispensed by local councils, under plans being considered by UK ministers keen to keep a lid on costs.As concerns increase about the impact of rising fuel and energy costs in response to a drawn-out war in Iran, a government official said several options for extending support were being debated inside Whitehall. Continue reading...

• Meta is financing multiple natural gas power plants in Louisiana to exclusively supply electricity for its massive new data center supporting AI operations. • The project addresses surging energy demands from AI training, with the plants designed to generate dedicated power bypassing the public grid amid national infrastructure strains. • This move highlights tech giants' shift toward self-funded energy solutions to avoid burdening consumers and accelerating U.S. data center expansion.

House Committee on Oversight and Government Reform Chairman James Comer (R-Ky.) announced a full committee markup on Wednesday, March 18, 2026, at 10:00am ET, to consider multiple bills aimed at protecting taxpayer dollars and improving government accountability. The legislation includes reforms to the Federal Funding Accountability and Transparency Act (FFATA) requiring annual reporting on unreported funds, including national security spending, and mandates federal agencies to publish settlement agreement details like dates, payments, and attorney fees in public databases. These measures address long-standing concerns over inefficient federal spending and lack of transparency, potentially saving billions by ensuring accurate data on USAspending.gov. The Special District Fairness and Accessibility Act would also define special districts in law and require OMB guidance for their eligibility for federal grants.