Biogen to invest $2 billion more in North Carolina
The company has invested about $10 billion in its North Carolina manufacturing to date.
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Reuters
24 minutes ago
- Reuters
India will buy Russian oil despite Trump's threats, NYT reports
Aug 2 (Reuters) - Indian officials have said they would keep purchasing oil from Russia despite the threat of penalties that U.S. President Donald Trump said he would impose, the New York Times reported on Saturday. Reuters could not immediately verify the report.
Telegraph
2 hours ago
- Telegraph
Miliband refuses to publish details of green energy deal with China
Following the decision, the Ministry of Defence raised concerns that the Chinese could use the turbines as spy sensors – but the Treasury was said to be resisting attempts to block the deal because of a desire to encourage inward investment. In Freedom of Information disclosures, the Government revealed that while Mr Miliband had been in China from March 13 to 17, Ofgem officials stayed until March 21. The officials, including Mr Brearley, used four temporary 'burner' phones while in the country, a standard security precaution government visitors are advised to take while in China. An Ofgem spokesman said: 'We always seek to keep expenditure as low as possible to deliver the best value for money and we regularly review our business travel and expenses policy in order to minimise the number of flights Ofgem staff take.' The group's food, local transport, and accommodation costs were paid for by the Foreign Office, the British embassy in China and the UK Integrated Security Fund, they added. The Department for Energy Security and Net Zero insisted it was 'misleading' to suggest memorandums signed with other countries are made 'publicly available'. A spokesman said: 'The MoU is not about encouraging Chinese investment or involvement in the UK critical national infrastructure. 'Instead, it renews a partnership that has been in place for over ten years, and which facilitates the sharing of research and ideas to support the global clean energy transition.'
The Guardian
3 hours 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
