UBS orders bankers to scale back sale of complex currency products, FT reports
Reuters could not immediately verify the report.
UBS did not immediately respond to a request for comment.
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The Guardian
22 minutes ago
- The Guardian
Trump steps up attacks on Fed's independence amid interest rates row
Donald Trump called on top Federal Reserve officials to seize control from its chair, Jerome Powell, if he fails to cut interest rates, stepping up his extraordinary attacks on the central bank's independence. The US president called Powell 'a stubborn MORON' in a series of critical social media posts on Friday, days after the Fed held rates steady for the fifth consecutive time. It comes as Trump faces heightened questions over the impact of his aggressive economic policy, and the White House presses forward with plans for a fresh wave of tariffs next week. Hours before the federal government released data which underlined a significant deterioration in the jobs market, Trump again broke with precedent to pin blame on the Fed – and urge it to change course. 'Jerome 'Too Late' Powell, a stubborn MORON, must substantially lower interest rates, NOW,' Trump wrote on Truth Social, his social network. 'IF HE CONTINUES TO REFUSE, THE BOARD SHOULD ASSUME CONTROL, AND DO WHAT EVERYONE KNOWS HAS TO BE DONE!' The Fed chair does not unilaterally set interest rates, which are decided by its rate-setting Federal Open Market Committee. Presidents typically respect its independence, leaving the central bank to make an objective decision – without political interference – about the best policy on interest rates for the US economy. 'Too Little, Too Late. Jerome 'Too Late' Powell is a disaster,' Trump wrote, minutes after Friday's lackluster jobs report. 'DROP THE RATE! The good news is that Tariffs are bringing Billions of Dollars into the USA!' Powell has repeatedly argued that the best approach for the Fed right now is to wait and see the impact of Trump's aggressive tariff strategy before cutting rates. But Trump has increasingly used the Powell, whom he appointed during his first term, as something of a piñata – repeatedly accusing him of damaging the US economy. Two members of the Fed's rate-setting committee dissented from its other policymakers' call to hold rates steady this week, and – to the president's delight – published their reasons on Friday. 'STRONG DISSENTS ON FED BOARD,' Trump wrote, claiming: 'IT WILL ONLY GET STRONGER!' By Friday evening, however, Trump's tone appeared to have changed as he told Newsmax during an interview that Powell will 'most likely' stay in his position. Trump said he would remove Powell 'in a heartbeat' and said the Fed's interest rate was too high but added that others have said Powell's removal would 'disturb the market'. 'He gets out in seven or eight months and I'll put somebody else in,' Trump said. On Friday afternoon, another member of the committee abruptly resigned. Adriana D Kugler, whose term was set to expire in January, announced she would step down next week. She did not provide a reason for the move, and will return to Georgetown University as a professor in the fall. 'I am especially honored to have served during a critical time in achieving our dual mandate of bringing down prices and keeping a strong and resilient labor market,' Kugler said in a statement. Her resignation creates a vacancy for the White House to fill. Reuters contributed reporting
Geeky Gadgets
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Create Stunning Presentations in Minutes with NotebookLM's New Features
What if you could transform hours of research and preparation into a polished, professional-grade presentation in just minutes? With NotebookLM's latest upgrade, that bold vision is now a reality. The platform has introduced a new feature: video overviews that allow users to create dynamic, tailored presentations directly from their research materials. Combined with a sleek new interface and enhanced content management tools, this update is poised to transform how professionals, educators, and creators tackle their most complex projects. Whether you're a marketer looking to captivate your audience or a researcher juggling dozens of sources, NotebookLM's innovations promise to make your workflow faster, smarter, and more impactful. Skill Leap AI explain how these updates—especially the innovative video overview tool—can elevate your productivity and creativity. From integrating diverse content types like PDFs and YouTube videos to using AI for personalized audio insights, NotebookLM is redefining what it means to manage and present information. But that's just the beginning. How does this new functionality reshape the way we think about research and communication? And what does it mean for the future of digital collaboration? Let's unpack the possibilities and see how this upgrade could change the way you work, think, and create. NotebookLM Just Got a Major Upgrade Streamlined User Interface for Effortless Navigation One of the most noticeable changes is the revamped user interface, which prioritizes simplicity and efficiency. The addition of a new 'studio tab' introduces a cleaner, more intuitive layout that enhances navigation. Whether you're creating notebooks, exploring features, or managing intricate projects, the updated design ensures that every tool is easily accessible. 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Discover other guides from our vast content that could be of interest on AI presentations. Video Overviews: Transforming Presentations The introduction of video overviews is one of the platform's most fantastic updates. This feature allows you to create professional-grade video presentations that incorporate slides, graphics, and structured content derived from your selected sources. Customization options enable you to tailor these videos to specific audiences, making sure they align with your objectives. For example, a marketing professional can emphasize key insights and adjust visuals to resonate with their team. This tool not only saves time but also improves the quality and impact of your presentations, making them more engaging and effective. Enhanced Audio Tools: AI-Powered Podcasts NotebookLM has also enhanced its audio generation capabilities, offering improved quality for AI-generated podcasts. A new interactive mode allows users to engage directly with the AI podcaster by asking questions, creating a dynamic and personalized listening experience. This feature is particularly valuable for professionals who need quick, accurate insights while multitasking or on the go. By combining convenience with high-quality audio, NotebookLM provides a more engaging way to consume information, catering to the needs of busy users. Discover Tab: Simplifying the Research Process Research often consumes a significant portion of time in any project. The new 'Discover Tab' addresses this challenge by allowing users to find and add sources directly within the platform. This eliminates the need to switch between multiple tools, streamlining the research process and allowing you to focus more on analysis and content creation. By integrating this feature, NotebookLM reduces the time spent gathering information, helping you work more efficiently and effectively. AI in Marketing: Automation Meets Personalization NotebookLM uses AI technology to transform marketing strategies by automating tasks and enhancing personalization. The platform's AI tools provide deeper insights into audience behavior, allowing you to optimize campaigns and deliver more targeted messaging. These advancements underscore the growing role of AI in modern marketing, helping professionals stay competitive in an increasingly digital landscape. By combining automation with personalization, NotebookLM equips marketers with the tools to create impactful, data-driven strategies. A Comprehensive Tool for Modern Professionals With its latest updates, NotebookLM cements its status as a versatile platform for organizing, analyzing, and presenting information. The intuitive user interface, advanced video and audio features, and centralized content management cater to a wide range of professional needs. Whether you're streamlining research, crafting compelling presentations, or using AI for marketing insights, NotebookLM provides the tools necessary to excel in today's fast-paced, digital-first environment. These enhancements demonstrate the platform's commitment to empowering users with innovative solutions that drive productivity and success. Media Credit: Skill Leap AI Filed Under: AI, Guides Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
BBC News
36 minutes ago
- BBC News
Derbyshire council continues to face losses over leisure centre
A parish council is continuing to face financial losses due to a heritage and leisure centre, according to documents released under the Freedom of Information Act. Elmton with Creswell Parish Council has faced criticism for a "multitude of failures" in its governance due to the losses it has made on the heritage and leisure centre in centre operated at a loss of more than £230,000 last year and is on course to make losses of over £1m over the next three years, according to documents obtained by residents, which have been seen by the parish council said the overall deficit has reduced in real terms. The parish council took out loans of almost £3m from the government and Bolsover District Council to build the centre. But the cost of running the facility soon became a cause for concern and the council ordered an external investigation into its finances, which was published earlier this year. It said there were "large and systemic failure to follow basic legal obligations" that left councillors potentially liable to prosecution. A further investigation was then carried out by the National Association of Local Councils (NALC).It did not find any evidence that warranted prosecutions, but estimated the running the centre and repaying the loans were costing the council £10,400 per week. The centre's income was just over £100,000 in the last financial year, which is roughly the same as its salary costs alone, according to documents released to residents under the Freedom of Information Act, which have been seen by the BBC. The documents also show the council's total spending on the centre was £200,000 in the last financial year and it needed to subsidise the facility to the tune of £70,000 each financial quarter.A repayment plan is also now in place to keep the council from defaulting on its debts. The problems with the leisure centre led the council to increase its council tax precept by 323% over the last two years, taking its charge to a Band D home from £172.05 in 2023/24 to £557.09 in 2025/ say the council has no choice but to increase its share of council tax bills because the leisure centre's income does not cover its running costs. The charitable trust set up to run the centre will soon be dissolved after officers concluded it was not "able to carry out the functions it was set up to perform". Day-to-day running is expected to be taken over by Bolsover District Council, which is expected to make a number of structural changes in an effort to bring down costs. There are currently no discussions between the two councils on offloading the centre to a third party operator, after NALC warned the move could incur costs for the parish elsewhere. A spokesperson for Bolsover District Council said: "Bolsover District Council and Elmton with Creswell Parish Council are currently discussing detail around day-to-day management of the Heritage and Wellbeing Centre. "The prime intention is to sustain facility access to the general public, with operating costs being met by the Parish Council." The chair of a local residents' group, Cris Carr, said that there is increasing anger among residents that they are being asked to "pay more and more with no meaningful way to challenge what's happening".He added: "The latest report suggests costs are continuing to spiral, and many now fear another rise in the precept is inevitable — even as living costs bite hard."Residents are struggling to understand how a Parish Council — traditionally responsible for Christmas lights and hanging baskets — could commit an entire village to millions of pounds in future liabilities without any form of democratic safeguard or community consent."Yet not a single Parish Councillor believes they've done anything wrong." The parish council said in a statement it "understands and shares residents' concerns" and is addressing them through "greater transparency, financial discipline, and community engagement"."For Quarter 1 of the 2025/26 financial year, the Heritage and Wellbeing Centre received a subsidy of £70,253.12, coming in under the budgeted figure of £80,485.00", it said."This marks the second year running in which the overall deficit has reduced in real terms, as part of the Council's active work to bring costs down."Our focus is on bringing down the precept and reducing the impact on council tax bills."
