Breaking AI & Tech News Analyzed

Former Treasury Secretary Janet Yellen sharply criticized President Donald Trump’s repeated calls for the Federal Reserve to slash borrowing costs, likening the approach to the fiscal tactics of a “banana republic.”Trump has publicly urged the central bank to deliver the lowest interest rate in the world, arguing that cheaper financing would ease the service burden on the United States’ staggering $39 trillion debt.Speaking at an HSBC investor summit in Hong Kong, Yellen asked, “How often does the president of a developed country demand that interest rates be set to reduce debt‑service costs? This is what you hear in a banana republic.” She warned that such political meddling could unleash inflation if the Fed’s independence is compromised.The Fed, under Chair Jerome Powell, last lowered its policy rate in December to a range of 3.5 %–3.75 %. However, policymakers are growing uneasy about inflationary pressures, especially as the ongoing Iran conflict threatens oil supplies.Powell is slated to step down next month, but his successor—Trump’s nominee Kevin Warsh—has yet to secure Senate confirmation. Powell has indicated he will remain in his role if a replacement is not confirmed, and he may continue as a Fed governor until a pending Department of Justice investigation concludes.Trump has openly dismissed the idea of Powell staying on, telling Fox Business that he would “have to fire him” if the chair does not leave. Powell, for his part, describes the DOJ probe as a “pretext” aimed at pressuring the Fed to cut rates.Warsh, who argues that potential productivity gains from artificial intelligence could justify lower rates, faces skepticism from Yellen, who doubts he commands the same respect as former Fed chair Alan Greenspan. She noted, “Greenspan was widely respected for his expertise; I don’t think Warsh walks in with that level of credibility.”Trump’s broader effort to reshape the Fed board includes an attempt to remove Governor Lisa Cook, who is currently facing a Supreme Court case over alleged mortgage fraud.Meanwhile, finance ministers and central bankers have gathered in Washington for the International Monetary Fund’s spring meetings. Bank of England Governor Andrew Bailey warned that rising oil prices, driven by the Iran conflict, constitute a “major supply shock” that central banks must assess carefully.The IMF has cautioned that a prolonged closure of the Strait of Hormuz could trigger a global recession, underscoring the interconnected risks of geopolitical tensions, sovereign debt, and monetary policy decisions.

The Italian comedy-drama Diamanti is set in a costume atelier in 1970s Rome and features a predominantly female ensemble. While it may be light on comedy, the drama is decidedly on the melo end of the scale, making it a sumptuously soapy dramedy. The film's strength lies in its luscious-looking period costumes, which specialize in 18th-century silhouettes and 1970s prints.Director Ferzan Özpetek brings his love and sincerity to the film, which is inspired by his visits to costume studios around Rome in the 80s. The story follows sisters Alberta (Luisa Ranieri) and Gabriella (Jasmine Trinca) as they run a studio staffed by dozens of seamstresses. The film's framing device features Özpetek himself gathering his cast for a read-through, where one character describes the female assemblage as a “vaginodromo”.The film explores various subplots, including girl-on-girl tension among the staff, a battered wife urged to defy her husband, and a political protestor with a gift for passementerie and decoupage. The costumes designed by Stefano Ciammitti convince throughout, and the film's 135-minute runtime feels breathless, never draggy.Diamanti is set to release in UK and Irish cinemas from 17 April. With its stacked cast and Özpetek's direction, this film is sure to delight fans of period dramas and costume films.

Kanye West has delayed his scheduled concert at Marseille’s Velodrome following reports that France’s interior minister is actively seeking to prevent the event due to the rapper’s recent antisemitic statements. The artist, who now goes by Ye, posted on X that after careful deliberation he has decided to postpone the Marseille show until further notice, citing the need to reassess the situation. A source close to Interior Minister Laurent Nuñez told AFP that the minister is "highly determined" to stop the 11 June performance and is exploring "all possibilities" to enforce a ban, including discussions with the regional prefect and the city’s mayor. Marseille’s left‑wing mayor Benoît Payan has publicly opposed the concert, stating that the city will not serve as a platform for "hatred and unabashed Nazism". He wrote on X, "Kanye West is not welcome at the Vélodrome, our temple of living together and belonging to all Marseillais." The controversy follows a series of provocations by the 48‑year‑old rapper, including a 2025 track titled Heil Hitler and the promotion of a swastika‑bearing T‑shirt. Major streaming services subsequently removed the song, and West later attributed his behavior to bipolar disorder in a public apology. Internationally, the United Kingdom has already barred West from entering the country, prompting the cancellation of his headline slot at the Wireless Festival. By contrast, the Dutch migration minister, Bart van den Brink, indicated no current plans to prohibit the artist from performing in the Netherlands. In an attempt to mitigate the fallout, West said he is willing to meet with London’s Jewish community to demonstrate genuine change, acknowledging that "words aren’t enough – I’ll have to show change through my actions." – AFP contributed to this report

Kevin Warsh, a former Federal Reserve governor nominated by President Donald Trump to replace Jerome Powell, has filed ethics disclosures showing personal assets well above $100 million. If confirmed, he would become the wealthiest central‑bank leader in U.S. history. The 69‑page filing, released on Tuesday, lists two private‑fund investments each valued at over $50 million in the Juggernaut Fund LP, plus $10.2 million in consulting fees from the investment office of Wall Street titan Stanley Druckenmiller. Many holdings are described only in broad categories because “pre‑existing confidentiality agreements” prevent full disclosure; Warsh has pledged to divest these assets should his nomination be approved. Federal Reserve ethics rules, tightened in 2022, prohibit officials and their families from owning bank stocks, crypto‑related assets, and impose strict limits on buying and selling securities. The Fed’s own standards, set by the Federal Open Market Committee, are stricter than those governing other federal employees. Beyond the large private‑fund stakes, Warsh’s disclosures reveal a portfolio concentrated in emerging sectors such as artificial intelligence and cryptocurrency. Notable entries include the robotic‑coffee‑bar platform Cafe X, wearable‑tech firm Cionic, an Ethereum layer‑two project dubbed “Blast,” and a reversible male‑contraceptive solution called Contraline. Details for many of these positions are omitted, again citing confidentiality. The filing also enumerates assets held by Warsh’s spouse, Jane Lauder—a member of the Estee Lauder family with an estimated net worth of $1.9 billion. Her holdings feature municipal bonds listed simply as “over $1 million.” Liabilities appear modest in comparison: a 2015 mortgage of up to $5 million with JPMorgan Chase at a 2.75% rate, a revolving credit line of up to $5 million from PNC Bank at roughly 6%, and a $1.95 million capital commitment to THSDFS LLC, an interest Warsh has also pledged to divest. Ethics analyst Heather Jones of the Office of Government Ethics confirmed that Warsh’s divestiture promises would bring him into compliance with the Ethics in Government Act. Nonetheless, the breadth of undisclosed holdings is likely to dominate his upcoming confirmation hearing, scheduled for April 21. Political dynamics add further uncertainty. A key Republican senator has signaled intent to block Warsh’s confirmation until a Department of Justice investigation into Powell’s oversight of Fed‑headquarters renovations concludes. Although a federal judge recently dismissed two subpoenas targeting Powell—citing a perceived attempt to pressure him on interest‑rate policy—the Justice Department plans to appeal, potentially delaying any Senate vote. Powell has indicated he will remain “pro tem” if Warsh is not confirmed by the end of his term on May 15, and he could retain his governor seat until 2028 if he chooses.

The United States is brokering a historic round of direct, high‑level talks between Israel and Lebanon in Washington, D.C., marking the first bilateral engagement between the two countries since 1993. Lebanese officials aim to secure a ceasefire, whereas Israel’s primary objective is the disarmament of the Iran‑backed Hezbollah militia. Hezbollah’s leadership has publicly dismissed the negotiations as a "futile" ploy, with Secretary‑General Qassem Naim urging the Lebanese government to withdraw from the talks. The group argues that negotiating under fire amounts to a surrender and insists that any disarmament can only occur after a full Israeli withdrawal from southern Lebanon. The talks are scheduled for Tuesday at the U.S. Department of State headquarters, beginning at 11 a.m. Eastern Time (15:00 GMT). Key participants include Lebanese Ambassador to the U.S. Nada Hamadeh, Israeli Ambassador to the U.S. Yechiel Leiter, U.S. Secretary of State Marco Rubio, U.S. Ambassador to Lebanon Michel Issa, and State Department Counselor Michael Needham, all acting as facilitators. The U.S. frames the meeting as a necessary response to “Hezbollah’s reckless actions,” emphasizing that "Israel is at war with Hezbollah, not Lebanon, so there is no reason the two neighbours should not be talking," a senior State Department official said. Escalating violence has set a grim backdrop: Israeli strikes on Lebanon have killed at least 2,080 people, including 165 children and 87 medical workers, and displaced more than 1.2 million residents. Overall, the conflict has claimed over 3,768 Lebanese lives since October 2023. Israel has refused to discuss a ceasefire, insisting instead on a plan to dismantle Hezbollah’s arsenal. According to Israeli media, the proposal would divide southern Lebanon into three security zones: Zone 1 (0‑8 km from the border) under a long‑term Israeli military presence; Zone 2 (up to the Litani River) where Israeli forces would gradually hand control to the Lebanese army; and Zone 3 (north of the Litani) to be managed solely by the Lebanese army for disarmament purposes. Israeli officials have also floated reinstating a “buffer zone” in the south, a policy abandoned decades ago. Beirut, represented by Culture Minister Ghassan Salame, describes the Washington meeting as a preliminary step to pause hostilities and reassert state authority, while acknowledging Lebanon’s limited leverage. The Lebanese government has previously announced plans to disarm Hezbollah under U.S. pressure, a move Hezbollah denounced as a surrender to Israel and the United States. The broader diplomatic context includes a recent U.S.–Iran ceasefire agreement that nominally covers Lebanon, but Israeli Prime Minister Benjamin Netanyahu rejected its terms and pushed for direct talks, receiving backing from U.S. President Donald Trump and Vice President JD Vance. European leaders, however, have urged that Lebanon be fully incorporated into any ceasefire framework. Hezbollah’s objections are multifaceted: negotiating while under bombardment, lack of national consensus, the demand to disarm its weapons—deemed a “Lebanese internal matter”—and accusations of governmental betrayal. The group has unequivocally stated it will not honor any agreement reached in Washington. Analysts caution that an immediate ceasefire remains unlikely. A U.S. official noted Israel’s focus on disarmament and skepticism about Beirut’s capacity to deliver. Meanwhile, the battle for the strategic southern town of Bint Jbeil is seen as a potential barometer for the talks: if Israeli forces capture the town, they may harden their demands; if Hezbollah holds, it could bolster Lebanon’s negotiating position. For now, Hezbollah remains defiant, with Qassem Naim declaring, "We will not rest, stop or surrender; the battlefield will speak for itself."

Donald Trump publicly rebuked Italy’s Prime Minister Giorgia Meloni, claiming she showed no courage for refusing to support a U.S. strike on Iran. The remarks were made during an interview with Italy’s Corriere della Sera, where Trump said, “I’m shocked at her. I thought she had courage, but I was wrong.”Meloni’s stance follows her government’s decision to suspend the automatic renewal of the defence cooperation memorandum with Israel, citing the “current situation” as justification. The move marks the first time Italy has halted the agreement, which had been in place since 2016 and facilitated military exchanges and technology sharing.Trump escalated the dispute, stating, “Giorgia Meloni doesn’t want to help us in the war… Does she like it? I can’t imagine.” He also linked his criticism to broader frustrations with European allies, accusing them of “abandoning” the United States and urging them to “go get your own oil.”Relations between Washington and Rome have already been strained after Trump’s earlier attacks on Pope Francis, whom he described as “not doing a very good job” and urged to stop “catering to the radical left.” Meloni condemned those comments as “unacceptable,” emphasizing that religious leaders should not be forced to follow political directives.Amid the diplomatic fallout, Italy is grappling with domestic challenges. A recent justice referendum, backed by the government, was defeated, a result analysts interpret as a broader vote of no confidence in Meloni’s leadership. Economic anxieties are rising as the ongoing Iran‑Israel conflict threatens global energy supplies, with the Strait of Hormuz blockade contributing to a sharp increase in diesel prices across Europe.Political historian Lorenzo Castellani of Luiss University described the situation as a “repositioning,” noting that Meloni may be wary of alienating centre‑right voters who are increasingly critical of Trump, Israeli Prime Minister Netanyahu, and the war’s economic repercussions.Despite the tension, Meloni reiterated that Washington remains a “priority ally,” adding that true alliances require candour: “When you are friends, particularly strategic allies, you must also have the courage to say when you disagree.”Trump’s remarks also targeted other NATO members, suggesting that countries like Spain could face troop withdrawals and accusing the United Kingdom of failing to “step up.” His comments underscore growing fractures within the alliance as the Iran conflict escalates.In parallel, Italy’s diplomatic ties with Israel are under pressure. The suspension of the defence memorandum follows a series of incidents, including Israeli airstrikes that have caused thousands of casualties in Lebanon and a near‑miss involving Italian UN peacekeepers in southern Lebanon. Italy’s ambassador to Israel was summoned after Foreign Minister Antonio Tajani condemned the Israeli raids during a visit to Beirut.The confluence of these diplomatic disputes—Trump’s criticism of Meloni, the halted Israel‑Italy defence pact, and broader NATO tensions—highlights a volatile period for European‑U.S. relations amid an intensifying Middle‑East conflict.

Kevin Warsh, the former Federal Reserve governor chosen by Donald Trump to lead the central bank, has submitted financial disclosures indicating he holds assets worth well over $100m. This disclosure is a required step for his nomination to advance through the Senate.The document, filed with the US Office of Government Ethics, reveals that Warsh has significant investments, including two worth more than $50m each in the Juggernaut Fund LP and $10.2m in consulting fees from Stanley Druckenmiller's investment office. He has also pledged to divest certain assets if confirmed.Warsh's holdings include around two dozen investments in THSDFS LLC, some valued as high as $5m, as well as assets in artificial intelligence and crypto sectors. His spouse, Jane Lauder, whose family has interests in the Estée Lauder cosmetics company, also had holdings disclosed.The filing is a key step in Warsh's expected confirmation to succeed Jerome Powell as Fed chair, though the timing remains uncertain. A Senate banking committee hearing has yet to be scheduled, and Republican lawmakers have vowed to block his confirmation until a Department of Justice investigation into Powell is concluded.

Qantas announced a fare increase and a 5% reduction in domestic capacity for May and June, responding to a rapid shift in passenger demand away from airlines that transit the conflict‑ridden Middle East. In a market update released on Tuesday, the carrier said it is redeploying aircraft from its U.S. and domestic networks to capture strong interest in Europe‑bound travel, especially to Paris and Rome. The move follows service cuts by Persian Gulf carriers such as Emirates, Etihad and Qatar Airways, which have scaled back flights amid the escalating Iran conflict. To accommodate the new focus, Qantas and its low‑cost arm Jetstar will cut capacity across their domestic networks by about 5%, trimming frequencies on key inter‑city routes and suspending several regional services. Four temporary suspensions will take effect in mid‑May: Melbourne‑Hamilton Island, Melbourne‑Coffs Harbour, Sydney‑Busselton and Darwin‑Gold Coast. In addition, the Adelaide‑Mount Gambier route will be discontinued indefinitely due to low demand and soaring fuel costs. The airline warned that its jet‑fuel expenses are set to rise sharply, projecting a second‑half 2026 fuel bill of $3.1‑$3.3 billion, up from the previously forecast $2.2 billion. This surge is driven by higher oil prices linked to the Iran conflict. To offset the cost pressure, Qantas has already raised ticket prices and signalled that “further action” – likely additional fare hikes – may be necessary. While airlines typically use hedging contracts to lock in fuel prices, the current volatility limits the effectiveness of such safeguards. Following the market update, Qantas shares slipped more than 3% in early trading before stabilising, reflecting investor concern over the combined impact of higher fares, reduced domestic capacity, and elevated fuel costs.

Senator Bernie Sanders declared on Monday that he will force a vote later this week on a resolution designed to stop the sale of nearly $500 million in bombs and bulldozers to the Israeli military. The procedural maneuver bypasses the Senate majority leader, signaling a direct challenge to the administration’s policy of unconditional support for Israel.Sanders framed the measure as a response to what he described as the "extremist Netanyahu government" responsible for alleged genocide in Gaza, arguing that American taxpayers should not fund further military operations that exacerbate civilian suffering.While the Republican‑controlled Senate is unlikely to approve the resolution, the vote will serve as a barometer of Democratic sentiment toward Israel, especially as anger over the U.S.–Israel war on Iran and ongoing atrocities in Gaza and the West Bank intensifies.Last year, Sanders introduced a comparable bill that was defeated 27‑70. At that time, a majority of Senate Democrats had supported the effort, reflecting an erosion of the once‑solid bipartisan consensus backing Israel.Public opinion data underscores this shift: a February Gallup poll found that only 46 % of Americans hold favourable views of Israel, and a mere 17 % of Democratic respondents say they sympathise more with Israelis than Palestinians.Since the conflict began, the United States has provided Israel with over $21 billion in military assistance during the first two years of the Gaza war, a figure that critics argue fuels continued violence.Adding pressure from the advocacy side, liberal Zionist organization J Street issued its first call to phase out U.S. aid to the Israeli military, citing the combined impact of the Gaza war, rising extremist activity in the West Bank, and the U.S.–Israel confrontation with Iran.J Street urged Washington to consistently apply existing legal restrictions—such as the Leahy Law—that prohibit security assistance to countries implicated in human‑rights abuses, a standard it says has been routinely overlooked in Israel’s case.The upcoming Senate vote, therefore, not only tests the durability of the U.S.–Israel security partnership but also reflects a broader reevaluation of American foreign‑policy priorities amid a volatile Middle‑East landscape.