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Subscribe to enjoy similar stories. Wall Street thought it had an ally in Donald Trump. He’s becoming more of an adversary.

Subscribe to enjoy similar stories. Jamie Dimon on Tuesday defended the independence of the Federal Reserve, saying that “anything that chips away" at the central bank’s independence “is not a good idea." Dimon, speaking with reporters after JPMorgan Chase issued its fourth-quarter earnings results, said political interference with the Fed would cause interest rates to go up, contrary to President Trump’s stated goal of getting rates to go lower.

Subscribe to enjoy similar stories. In his second term, President Donald Trump has attacked Federal Reserve Chair Jerome Powell and his underlying institution with little impact on the markets. That may soon change as investors digest the administration’s criminal investigation into Powell for allegedly lying to Congress.

Subscribe to enjoy similar stories. The Justice Department’s investigation of Federal Reserve Chair Jerome Powell represents an escalation of an unprecedented White House campaign to shape what happens at the central bank. The investigation is centered on testimony Powell gave to Congress last summer, when he defended the Fed’s expensive efforts to renovate its headquarters in Washington.

Subscribe to enjoy similar stories. President Trump has complained to aides repeatedly in recent weeks about Attorney General Pam Bondi, describing her as weak and an ineffective enforcer of his agenda, administration officials and other people familiar with his complaints said. The criticisms appear to be part of an intense campaign by Trump to pressure the Justice Department to more aggressively pursue his priorities, some of the officials said.

Subscribe to enjoy similar stories. For years, Federal Reserve Chair Jerome Powell has responded to President Trump’s broadsides in ways that generally avoided escalation. That changed on Sunday night.

Subscribe to enjoy similar stories. Gold prices climbed to a record high, breaking above $4,600 a troy ounce as a criminal probe into Federal Reserve Chair Jerome Powell revived concerns over the central bank’s independence, while protests in Iran boosted demand for safe-haven assets. In midmorning European trading Monday, futures in New York rose 2.2% to $4,600.50 an ounce after touching an intraday high of $4,612.70.

Subscribe to enjoy similar stories. The criminal investigation into Federal Reserve Chair Jerome Powell isn’t ultimately about the Fed’s headquarters, or Powell, or even interest rates. It’s about power.

Subscribe to enjoy similar stories. The Federal Reserve received grand jury subpoenas from the Justice Department on Friday that threaten a criminal indictment relating to Chair Jerome Powell’s testimony last summer about the central bank’s building renovation project, the Fed chair said in a video statement on Sunday night.

Subscribe to enjoy similar stories. If trade deficits are a national emergency, they are an emergency of a peculiar sort. America began to run them consistently in the mid-1970s.

Today, more than half of all data breach incidents target personally identifiable information—tax identities, passport numbers, biometric data and the like. In most instances, this information was collected and stored to comply with know-your-customer (KYC) obligations.

narrated their misdeed in great detail and how Sebi’s surveillance system flagged this “unusual trading activity.” A thrilling read.Gensol & BluSmart: A tale of debt woesYet another investigation by Sood focused on two companies, one public, the second one private. BluSmart, the private business, once emerged as the third alternative in the ride-hailing business dominated by Uber and Ola back then. It became the go-to cab service for airport trips for many flyers.

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Cognizant Technology Solutions Corp and a former employee representing the US government are jointly approaching a US Court seeking review of a lower court order that mandates investigations into claims of non-payment of visa fees and related taxes to the US government.The move, depending on the outcome, could prevent a lengthy legal process and pave the way for a settlement.On 15 December, Cognizant and Jean-Claude Franchitti, formerly an assistant vice-president with the company acting as a whistleblower for the government, filed a joint motion to the United States Court of Appeals to do away with a New Jersey district court’s order from two years ago that permitted a court trial on claims of Cognizant’s alleged withholding of H-1B visa fees and taxes to the US. The motion has been reviewed by Mint.The genesis of the case goes back to 2023 when Franchitti, representing the US government, said Cognizant had knowingly concealed, misused, and brought employees to the US on other visas, thereby paying lower dues to the government.Franchitti said Cognizant applied for L-1 and B-1 visas for certain employees who did the work coming under the ambit of H-1B visa holders, thereby depriving the (US) government of higher filing fees required for H-1B visas.

Subscribe to enjoy similar stories. India’s capital markets regulator is opening more investigations than ever, even as it focuses on building detailed, watertight cases to survive increasing scrutiny at the appellate tribunal. The Securities and Exchange Board of India (Sebi) took up 400 investigations and completed 301 in the financial year 2024-25, according to data from Sebi’s Handbook of Statistics for the year.

Subscribe to enjoy similar stories. When a self-described patriotic, middle-aged Russian soldier was released from a prisoner-of-war camp in Ukraine earlier this year, he called his family to tell them he was alive, free and back on Russian soil. As the phone was passed around, he told them he might be back in time for his son’s birthday in a few weeks’ time.

Last week, finance minister Nirmala Sitharaman introduced the Securities Markets Code Bill of 2025 in Parliament, aimed at building a new legislative scaffolding for India’s securities markets.The Bill, which has been sent to the parliamentary panel on finance for comments and inputs, proposes to merge and replace three laws: the Securities and Contracts (Regulation) Act of 1956 and those related to the market regulator, Securities and Exchange Board of India (Sebi), and depositories. This was necessary to address multiple overlaps among those legacy acts of legislation.

Subscribe to enjoy similar stories. Even a small, inadvertent oversight in declaring foreign assets can trigger intense scrutiny and label honest taxpayers as holders of ‘black money’, causing financial and mental stress. A Mumbai-based professional learned this the hard way after receiving a penalty order from the tax department, which accused him of concealing foreign assets and imposed a ₹40 lakh penalty under the Black Money Act (BMA).

canceled more than 4,500 flights due to a pilot shortage, failing to meet new DGCA regulations capping pilots' flying hours from midnight to 6AM. A nationwide uproar prompted the aviation ministry and DGCA to launch an investigation, slash IndiGo's daily flights by 10%, and demand explanations from IndiGo chief executive officer (CEO) Pieter Elbers and the airline's chief operating officer Isidre Porqueras.While the Indigo cancellations seems to have been a case of mismanagement by the airline, the role of ministry of civil aviation and DGCA came under the lens for lapses.“They did not spot the craters in time, they did not prune the expanded schedules in time nor they did not verify if they had the pilots for the schedule, even when they saw the troubles brewing in November,” said Sanjay Lazar, aviation safety specialist and CEO of Avialaz Consulting.Six months ago, Air India's Flight 171 crashed seconds after takeoff from Ahmedabad, with at least 260 fatalities.

Subscribe to enjoy similar stories. Inside a closed Los Angeles courtroom, something wasn’t right. Clerks working for family court Judge Amy Pellman were reviewing routine surrogacy petitions when they spotted an unusual pattern: the same name, again and again.

Subscribe to enjoy similar stories. This year’s largest stock sale wasn’t on the New York Stock Exchange or its uptown rival, the Nasdaq Stock Market. Instead, it was a $40 billion offering by OpenAI that was available to only the investors handpicked by the firm’s executive team, including Sam Altman himself.