Funds

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...