confirms

WASHINGTON — The Senate confirmed President Trump’s nominee to lead the Federal Reserve, Kevin Warsh, bringing new leadership to the world’s most powerful central bank at a fraught moment for the global economy.

Warsh was confirmed Wednesday in a largely party-line vote. His nomination had been thrown into doubt in recent months after Republican Sen. Thom Tillis of North Carolina said he would block the nomination while the Justice Department investigated Fed Chair Jerome H. Powell. The Powell inquiry was dropped in April, clearing the way for the Senate to confirm Warsh.

Senate Majority Leader John Thune (R-S.D.) urged colleagues to support Warsh during a floor speech Wednesday morning, saying it’s crucial that a Fed chair “understand not only the macro” but also “appreciate the microeconomy: and that’s the hardworking Americans, their jobs and their livelihoods.”

“Kevin Warsh is just such a person,” Thune said.

Warsh, 56, a former top Fed official, will become chair at an unusually difficult time for the independent agency.

Inflation has topped the Fed’s 2% target for five years and is now rising faster because of surging gas prices. The Fed’s interest rate-setting committee is divided and saw the most dissenting votes in more than three decades last month. And Powell, after years of personal attacks from the Republican president and an unprecedented legal investigation by the Justice Department, plans to stay on the Fed’s board even after his term as chair ends, potentially creating a competing power center.

Trump has demanded change at the Federal Reserve

The Fed has faced numerous threats to its independence from Trump, who has repeatedly attacked Powell for not cutting interest rates. Trump also sought to fire Fed Gov. Lisa Cook and launched an investigation into brief Senate testimony by Powell on a building renovation.

Kevin Hassett, director of the White House’s National Economic Council, said in a Fox News interview on Sunday that he believes the markets are relieved that Warsh “is going to help lower interest rates over time.”

“Obviously, data driven,” said Hassett. “I’m not putting any pressure on Kevin Warsh.”

In December, Trump said on his social media platform that he wanted a Fed chair who would cut interest rates when the stock market rose — the opposite of what traditional economics would prescribe — and added, “Anyone that disagrees with me will never be the Fed chairman!”

Trump’s comments have fueled concerns over whether Warsh will set rates based on economic conditions or seek to cut rates to appease Trump, even if doing so could worsen inflation. At Warsh’s confirmation hearing last month, Sen. Elizabeth Warren, a Democrat from Massachusetts, derided him as a “sock puppet” for Trump. Warsh declined to say that Democrat Joe Biden had won the 2020 election against Trump, who has falsely claimed that voter fraud cost him reelection.

Still, Warsh denied at the hearing that Trump had pressured him to reduce the Fed’s key rate.

“The president never once asked me to commit to any particular interest rate decision, period,” Warsh said then. “Nor would I ever agree to do so if he had. … I will be an independent actor if confirmed as chair of the Federal Reserve.”

A critic of the Fed’s leadership in the past

Warsh has been highly critical of the Fed’s recent track record, particularly the inflation spike in 2021-22, the worst in four decades, and has called for “regime change.” Yet he has provided only broad outlines of what that change would involve.

He has called for limiting the Fed’s communications, which would be a sharp shift after decades of increasing transparency. He has argued that some of its communications tools, such as quarterly forecasts of where its key rate may head, have made it harder for officials to switch gears.

Senate Democrats also have condemned Warsh for not fully divulging the details of his extensive wealth, which disclosures show amounts to at least $100 million. His investments include stakes in Polymarket and SpaceX, but he hasn’t revealed how large those holdings are. He promised to sell all such assets within 90 days of being sworn in.

“He will be the wealthiest Fed chair in history, but he refuses to provide transparency to the American people about who he is entangled with,” Warren said.

Warsh faces difficult economic conditions

The Fed is still grappling with how to respond to the 50% jump in gas prices from the Iran war. The increase has boosted inflation, which reached 3.8% in April.

The Fed is tasked by Congress with keeping prices stable, which it seeks to do by raising its short-term rate to make borrowing and spending more expensive, cooling growth and inflation.

The Fed typically looks past temporary price increases that stem from supply disruptions, such as the war’s cutoff of oil through the Strait of Hormuz, because those prices typically level off — or even fall back down — once the supply is restored.

But the Fed also followed that approach after the COVID-19 pandemic snarled global supply chains for goods, lifting prices for things such as cars, furniture and electronics. Inflation turned out to last longer than expected, and Powell and other Fed officials have acknowledged they waited too long to raise rates. Inflation surged to 9.1% by June 2022.

The Fed’s rate-setting committee has kept rates unchanged for three straight meetings as it evaluates the effect of the gas price spike. At its most recent meeting last month, three members of the committee objected to language that suggested its next move would be a rate cut. They preferred more neutral language that would allow for a hike. Many Fed watchers saw those dissents as a warning shot to Warsh that he won’t be able to easily engineer rate reductions.

A fourth member of the 12-member committee, Stephen Miran, dissented in favor of a rate cut, as he has at every meeting since Trump appointed him to the Fed’s board last September. Miran is serving until a replacement is named, and Warsh will take his spot.

Powell, meanwhile, said at a news conference April 29 that he would remain as a Fed governor until the Justice Department closes its investigation into the Fed’s building project, the first time a chair may stay on the board for an extended period since 1948. His term as a governor lasts until January 2028.

U.S. Atty. Jeanine Pirro has dropped the government’s investigation, but she has said it could be reopened if the Fed’s inspector general office, which has looked into the renovation project since last July, finds evidence of criminal activity.

Rugaber and Cappelletti write for the Associated Press.

Strictly Come Dancing is facing a huge reshape after five dancers joined Tess Daly and Claudia Winkleman in heading for the exit door, but one professional seems to have confirmed they are staying

Strictly Come Dancing will have a hugely different lineup when it returns to the small screen later this year, but one favourite appears to have confirmed his position.

While five professional dancers foxtrot away from the BBC show for various reasons, South African star Johannes Radebe appears ready to commit to another series.

The dancer, 39, had seen speculation rise about his future on the show following the huge cull of show regulars last month. Gorka Marquez also became the latest to walk away last week after 10 years on the show. But Johannes looks set to feature in the 24th series of the popular dance contest. The star is currently starring as Lola in the 2026 production of Kinky Boots at the London Coliseum.

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And in a chat with The i Paper, he seemingly confirmed his return to the ballroom floor for another year. He told the publication: “‘I live at the Coliseum while I’m in Kinky Boots.

“And when that finishes, Strictly will come around again, so I think I’m just too busy [for a love life].”

Fans of the show will be pleased to hear him cement his place following the exit of a number of big names. Announced departures from the show so far, include; Michelle Tsiakkas, Luba Mushtuk, Nadiya Bychkova and Karen Hauer.

Gorka’s announcement was the latest to stun viewers. He took to Instagram last week to share the big decision. He wrote: “After last year’s decision to step down as a full-time professional due to scheduling conflicts between Strictly and Dancing with the Stars Spain, I’ve decided that now is the time to hang up my dance shoes and say goodbye to Strictly Come Dancing.

“I will always be incredibly grateful to Strictly and the BBC for everything. Being part of the show has been so much more than just a professional opportunity—over the past 10 years, it allowed me to build a career from my passion, find love, start a family, and make lifelong friends. For that, I will forever be thankful.

“Thank you to everyone who has supported me and shared their love throughout this incredible journey.”

And it’s not just the dancers who won’t be returning. Part way through the last series, hosts Claudia Winkleman and Tess Daly confirmed they were stepping down.

The pair released a joint statement to reveal their time is up. And while thee hasn’t been an official confirmation on who will take their place, the rumour mill has been rife.

Among the favourites to take the job on is Rylan Clark. Bradley Walsh has also been speculated, but the star of The Chase previously moved to distance himself from the show.

Like this story? For more of the latest showbiz news and gossip, follow Mirror Celebs on TikTok, Snapchat, Instagram, Twitter, Facebook, YouTube and Threads.

It comes as the UK Government today, Sunday, May 3, introduced a rule change allowing airlines to group passengers from different flights together

Wizz Air has issued an update to passengers this Sunday afternoon confirming its flight plans. The airline’s latest statement follows new official measures unveiled today, Sunday, May 3, by the Government.

The Government has brought in a temporary rule change permitting airlines to consolidate passengers from different flights onto fewer aircraft as part of efforts to conserve fuel. This follows warnings of a potential jet fuel shortage ahead of the busy holiday season if the Strait of Hormuz remains closed.

Asked this morning whether holidaymakers travelling abroad are likely to encounter difficulties this summer, Ms Alexander told Sky News’ Sunday Morning With Trevor Phillips: “I’ve spent every week of the last two months in close contact with airlines and airports.

“On Thursday of this week, airlines told me very clearly that they have good visibility over the next six to eight weeks of jet fuel supply. There is no current disruption to jet fuel supplies.

“We are, for example, importing more jet fuel from America. We have asked the refineries in the UK to maximise their production. We’ve got four refineries here, refineries in West Africa are also producing more.”

She continued: “The last thing I want is for people to turn up at a departure gate and have last minute cancellations. I am confident, sat here today on the basis of the information that I have available to me, that the majority of people who are travelling this summer will have a similar experience to that which they had last year.”

Her comments come as airlines worldwide take action in response to soaring jet fuel prices. These have been triggered by Iran’s effective closure of the Strait of Hormuz, blocking off one of the world’s crucial routes for jet fuel distribution to other countries.

Lufthansa recently revealed plans to axe 20,000 flights as it scales back capacity to cope with jet fuel shortages. UK carriers have also issued statements in a bid to put customers’ minds at ease.

Among them, Jet2 confirmed it will not impose surcharges on any existing flight or holiday bookings to offset rising costs, such as those for jet fuel. Now Wizz Air has released a fresh statement following the government’s latest proposals.

Speaking today, an airline spokesman said: “Wizz Air acknowledges today’s announcement by the UK government and would like to reassure customers that its operations remain fully stable and unaffected.

“The airline confirms that it plans continue to operate its full summer schedule, flying passengers safely and reliably to their destinations across its extensive network. Wizz Air is working closely with its partners to ensure seamless operations throughout the peak travel season.

“Customers can book with confidence on Wizz Air’s wide selection of routes from more than half a dozen airports across the UK, connecting travellers to popular destinations across Europe and beyond.”

New government rules amid jet fuel shortage fears

The Government’s airline rule change could result in passengers being switched from their originally booked service to a comparable one in order to cut down on wasted fuel from aircraft that haven’t sold out and may otherwise have been cancelled.

Consumer group Which? has hit out at the move, arguing that rules should not be “bent in favour of airlines”. Shadow transport secretary Richard Holden warned that families could find themselves “herded on to a different plane, at a time of the airline’s choosing”.

“The honest message is that Britain is exposed to fuel supply risks that a properly energy-secure country would not face,” he added. Green Party leader Zack Polanski has called for private jets to be grounded in a bid to conserve fuel.

“While ordinary people pay the price, the super rich are simply getting in their private jets at will – wasting huge amounts of jet fuel on unnecessary trips,” he said.

Netflix is set to bring this “unsettling” best-selling novel to life sooner than you think.

Severance and The Godfather legends are teaming up for a Netflix thriller that will leave your “flesh crawling”.

Based on Alex North’s New York Times best-selling novel of the same name, The Whisper Man is making its way to Netflix on Friday, August 28.

The official synopsis for the upcoming “disturbing” film reads: “When his eight-year-old son is abducted, a widowed crime writer looks to his estranged father, a retired former police detective, for help, only to discover a connection with the decades-old case of a convicted serial killer known as ‘The Whisper Man.’”

What’s even more exciting about The Whisper Man’s pending arrival is its star-studded cast.

The Netflix thriller will star Severance legend Adam Scott, Hollywood icon Robert De Niro and The White Lotus actress Michelle Monaghan.

While subscribers wait to see how the movie will play out, The Whisper Man already has a loyal fanbase of book lovers ready to watch the adaptation.

Taking to Amazon Prime to sing the book’s praises, a fan shared: “This is one of the most gripping and mind-blowing books I have read this year, and it takes suspense and terror to a whole new thrilling level.”

A second described it as “gripping and flawless”, with another posting: “This book genuinely makes your heart pound.”

Someone else remarked: “Creepy and chilling? Yes! Addictive and clever? Totally!

“It made my skin crawl, it’s sometimes heartbreaking, it’s dark and twisty and just mind-blowingly fabulous!”

“The Whisper Man is one of the best thrillers I have read in years. It is in equal parts gripping and truly terrifying”, a reader commented.

While another added: “I will undoubtedly be keeping my window shut for a little while, and will be obsessively checking on my sleeping children!”

Working behind the scenes as producers are brothers Joe and Anthony Russo, famed for directing Marvel films Avengers: Infinity War and Avengers: Endgame.

The Whisper Man premieres on Friday, August 28, on Netflix

Caracas, April 27, 2026 (venezuelanalysis.com) – The Venezuelan Central Bank (BCV) has announced the hiring of outside firms to audit Venezuelan export revenues currently controlled by the Trump administration and disbursed to Caracas.

In a press statement, BCV Acting President Luis Pérez confirmed that both the Venezuelan and US governments had hired auditing companies to “ensure peace of mind and impartiality.”

“The auditing of the country’s resources by external consultants gives us peace of mind,” Pérez stated. “Venezuela can be confident that the resources are being channeled where they have to and getting where they need to.”

According to Reuters and Bitácora Económica, Deloitte is one of the firms selected to inspect the Central Bank’s accounts, though it is not known whether it was chosen by Washington or Caracas.

One of the largest global consulting corporations, Deloitte has close ties to the US political establishment and national security state.  The London-based firm has a well-documented history of hiring former CIA agents and undertaking corporate espionage.

Since the January 3 US military strikes and kidnapping of Venezuelan President Nicolás Maduro, the Trump administration has taken control over Venezuelan oil revenues, mandating that all royalty, tax, and dividend payments be deposited in US Treasury-run accounts before a portion is returned to Caracas at the White House’s discretion.

US officials, including Secretary of State Marco Rubio and Treasury Secretary Scott Bessent, have stated before congressional committees that the Venezuelan government’s allocation of its own resources, once returned by Washington, would be subject to outside audits.

Rubio additionally claimed that Caracas needs to submit “budget requests” before accessing funds. Both US and Venezuelan officials have acknowledged the use of US-managed funds for imports of medicines and medical equipment from US manufacturers.

The sequestered Venezuelan earnings have not been returned directly to the BCV but injected into foreign currency auctions run by banks. US officials have confirmed the transfer of US $500 million of a projected $2 billion initial agreement, though analysts have reported a higher volume of foreign currency made available in recent weeks.

Recently issued US Treasury licenses allowing transactions with the Venezuelan Central Bank are expected to restore some of the institution’s capacity to intervene in the economy. In a recent meeting with banking executives, Acting President Pérez stated that the BCV was prioritizing inflation control and forex market stability. A black market exchange rate has consistently hovered above the official one, with a gap currently at around 30 percent. Critics have blamed the BCV’s lack of oversight for the proliferation of currency speculation.

Pérez likewise pledged to review the Central Bank’s current reserve requirements, a recurring demand from banks in recent months. Banks are presently forced to hold 73 percent of deposits as reserves.

The contraction of credit, alongside reduced public spending and the freezing of wages, were policies adopted by the Maduro government in recent years in an effort to slow down inflation in the sanctions-hit Venezuelan economy.

Pérez was appointed acting president of Venezuela’s financial authority on April 16. He replaced Laura Guerra, who had been in the post since April 2025. Last week, the Venezuelan government’s “rapid response” social media denied reports of negotiations with the US State Department and the far-right opposition to select a new BCV board.

Since January, the Venezuelan government led by Acting President Delcy Rodríguez has fast-tracked a diplomatic rapprochement with the Trump administration.

The White House’s recognition of Rodríguez as Venezuela’s sole leader has paved the way for the resumption of dealings with the International Monetary Fund (IMF), while creditors of Venezuela’s sizable foreign debt anticipate a lucrative restructuring agreement.

The Rodríguez administration has likewise driven a pro-business legislative agenda with the goal of attracting foreign investment. The Caribbean nation’s parliament has approved reforms to the hydrocarbon and mining sectors that grant increased control to foreign conglomerates, alongside reduced fiscal responsibilities and the possibility of taking disputes to international arbitration bodies.

Canadian miner Gold Reserve issued a statement Monday “welcoming” the new mining law, noting that some of its “key recommendations were reflected in the final enacted law,” including the repeal of a 2015 decree establishing majority Venezuelan state control over the sector.

Acting President Rodríguez, as well as National Assembly President Jorge Rodríguez, have both acknowledged receiving “recommendations” and “suggestions” from oil majors in the hydrocarbon industry overhaul.

Edited by Lucas Koerner in Fusagasugá, Colombia.

MOLLY-MAE Hague appears to have confirmed her second child may be her last.

Back in February, the businesswoman and influencer revealed she was expecting a sibling for her and partner Tommy Fury‘s three-year-old daughter Bambi.

Molly-Mae, 26, then seemingly revealed her due date in a social media clip, suggesting she is due in June, before dropping a huge hint about her unborn baby’s name.

Boxer Tommy, 26, who originates from Gypsy heritage, has never made any secret of his desire for a large family with his Love Island co-star, originally suggesting 10 kids before settling on four.

Though now Molly-Mae has hinted this pregnancy could be her final maternity journey.

In her new YouTube clip entitled A Week With Me and Prepping For My Baby Shower, she told how she had originally planned her celebrations to be an outdoor cinema event at her home.

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Yet she changed things up after thinking she would be “dreading” it and feeling “anxious” about bringing friends together from different groups.

She said: “I thought no it’s just a lot, so I thought just swerve it basically.

“So I ended up swerving it – sorry I have really got verbal diarrhrea – but I also was like well this might be my last baby.

“I really want to do something to celebrate it”.

Molly-Mae then planned a baby brunch event in Manchester, with a jeans and a nice top dress code.

Though her family plans might have poured cold water on Tommy’s dreams of a bigger brood.

Previously, Tommy told a Love Island spin off show: “In 10 years’ time I’d definitely like to see myself married with kids; four kids, five kids, 20 kids – whatever.”

During the chat, Molly’s mouth then dropped open as she exclaimed: “FIVE kids?”

He smiled: “Yeah, I want an army of kids.”

Molly-Mae and Tommy Fury’s relationship timeline

From Love Island to a diamond ring and baby – we look at how Molly and Tommy have got to where they are today.

But the influencer refused to entertain the idea, and told him: “Well that’s not happening, we’re not doing five kids. Two, maximum.”

In another chat, he explained: “Apart from boxing, having a family is what I’m really looking forward to”.

Earlier this month, Tommy’s big brother Tyson admitted he wants 10 kids – and has sex five times a week.

Tyson admitted: “My love life’s thriving, I’m having sex at least four or five times a week.

“Paris, she is that ride-or-die chick. The woman’s been my wife for 20 years near on.

“Is she the luckiest lady on Earth? One hundred per cent.”

US President Donald Trump has called a shooter who tried to rush the White House Correspondents’ gala, ‘a sick person.’ Trump says the man was heavily armed, but was apprehended by the Secret Service.

Some airlines have confirmed they will be operating fewer flights

Six major airlines have confirmed they will be cancelling and cutting back on flights to and from the UK due to the rise in jet fuel costs triggered by the war in Iran. As a result, many travellers may have to prepare for their plans to be disrupted as they anxiously await updates from their airlines.

However, the Government has confirmed the full list of rights passengers have when their flight is cancelled due to an act of war. This includes what compensation or rebooking options people should be given.

Parliamentary Under-Secretary for the Department for Transport, Keir Mather, clarified: “Where UK law applies, if a flight is cancelled by the airline, then passengers would be entitled to a choice between a full refund or to be re-routed. These rights would apply if disruption were linked to war.

“Information on air passenger rights is already available in the Department’s Air Passenger Travel Guide, and the Civil Aviation Authority (CAA) recently provided specific advice to passengers in response to the Middle East disruption.”

The MP had been responding to Liberal Democrat Sarah Dyke who requested the DfT layout guidance on the “Act of War” clause which is meant to protect customers who should receive appropriate refunds for holidays they cannot take due to conflict.

According to the Civil Aviation Authority, if your flight is cancelled your airline must let you choose one of two options under UK law:

• Receive a refund for the parts of the journey you haven’t used
• Choose an alternative flight

If your flight is cancelled with less than 14 days’ notice, you may be entitled to some compensation if it is deemed to be the airlines’ fault. Issues like extreme weather, employee strikes or ‘extraordinary circumstances’ won’t count.

UK law around cancelled flights usually applies to airlines departing from or arriving in the UK as well as flights arriving in the EU on a UK airline. Under this law, your airline must also provide you with ‘care and assistance’ if your flight is cancelled.

This ‘care and assistance’ is separate from compensation and can include:

• Reasonable amount of food and drink, usually vouchers
• Means to communicate, such as refunding the cost of phone calls
• Accommodation if your replacement flight is the next day
• Transport to and from the accommodation or your home if you’re able to return

The UK Civil Aviation Authority notes: “The airline must provide you with these items until it is able to fly you to your destination, no matter how long the delay lasts or what has caused it.”

According to the BBC, six airlines have said they will operate fewer flights including KLM, Air Canada, Asiana Airlines, Delta Airlines, Lufthansa and SAS. Other airlines, such British Airways owner IAG, EasyJet and Jet2Holidays, have assured that they don’t plan to make any changes at the moment as of April 25.

Some airlines have said they will increase charges as a result of the jet fuel supply disruption. These include:

• Air France-KLM
• Indigo
• Pakistan International Airlines
• Thai Airways
• Turkish Airlines-Sun Express
• Virgin Atlantic

A Cuban Foreign Ministry official said the exchange with Washington was ‘respectful and professional’ and devoid of threats.

The Cuban government has confirmed that it held recent talks in Havana with officials from the United States, as tensions remain high between the two countries over Washington’s energy blockade of the Caribbean country.

Alejandro Garcia del Toro, deputy director general in charge of US affairs at the Cuban Ministry of Foreign Affairs, said on Monday that the US delegation included assistant secretaries of state, and the Cuban delegation included representatives at the level of deputy foreign minister.

Garcia de Toro said that the US delegation did not issue any threats or deadlines as had been reported by some US media outlets.

“The entire exchange was conducted with respect and professionalism,” he said.

In comments reported by Cuba’s Communist Party newspaper Granma, Garcia del Toro emphasised that ending the three-month-old US oil blockade was “a top priority” for the Cuban government in the talks, and accused Washington of “blackmail” for threatening countries that export oil to Cuba with tariffs.

“This act of economic coercion is an unjustified punishment for the entire Cuban population,” he said.

“It is also a form of global blackmail against sovereign states, which have every right to export fuel to Cuba, in accordance with the principles of free trade,” he added.

US news outlet Axios reported on Friday that officials from US President Donald Trump’s administration held multiple meetings in Havana on April 10, including with Raul Guillermo Rodriguez Castro, grandson of former President Raul Castro. The meetings marked the first time that American diplomats had flown into Cuba since 2016 in a new diplomatic push.

According to reports, US officials laid out several conditions for negotiations with Cuba to continue, including the release of prominent political prisoners, an end to political repression, and liberalising the island’s ailing economy.

The Reuters news agency said that US proposals for Cuba also include allowing Elon Musk’s Starlink internet terminals into the country and providing compensation for Americans and US corporations for assets confiscated by Cuba after the 1959 revolution. Washington is also concerned about the influence of foreign powers on the island, a US official told the news agency.

Trump has hinted at military intervention in Cuba and warned of tariffs on any country that sells or supplies oil to Cuba. The fuel blockade has aggravated Cuba’s economic and energy crisis, leading to warnings of a humanitarian disaster.

Cubans have also braced for a possible attack following Trump’s repeated warnings that the country will be “next” after his war on Iran and the US military’s abduction of Venezuela’s President Nicolas Maduro in January.

Last week, Cuban President Miguel Diaz-Canel said that his country was prepared to fight if the US carried through on its threats.

The leaders of Mexico, Spain and Brazil on Saturday voiced concern over the “dramatic situation” in Cuba and urged “sincere and respectful dialogue”.

German Chancellor Friedrich Merz said on Monday there was no evident justification for the US to attack Cuba.

“The ability to defend oneself does not mean the right to intervene militarily in other states when their political systems do not match what others might have in mind,” he said.

LIV Golf appears to be dying on the vine but doesn’t want to say so.

Amid several reports that the Saudi-backed Public Investment Fund will cease its abundant funding of LIV Golf after the 2026 season, officials with the four-year-old PGA Tour competitor chose to focus on the fact that the show will go on — at least through August.

During a broadcast interview from the LIV tournament in Mexico City, LIV Chief Executive Scott O’Neil would not say if the league has a funding commitment from the Public Investment Fund, or PIF, beyond this year.

O’Neil responded to a question about golfer Sergio Garcia saying this week that LIV Golf Chairman Yasir Al-Rumayyan “told us at the beginning of the year that he is behind us, that they have a project of many years.”

“It’s just not the way the world works,” O’Neil said. “We have commitments to have this … the reality is you’re funded through the season and then you work like crazy as a business to create a business and a business plan to keep us going.

“But that’s not different from any other private equity-funded business in the history of mankind.”

The interview was pulled from the internet shortly after it was posted.

PIF announced a new five-year strategy Wednesday that will reduce international investments from 30% to 18-20% of the portfolio and place greater emphasis on Saudi domestic initiatives to promote sports. LIV Golf does not fit into that category and was not mentioned.

“PIF will continue to support Saudi Vision 2030 objectives by delivering competitive domestic ecosystems,” Al-Rumayyan said in the announcement. “The 2026-2030 strategy is a natural next step in PIF’s growth journey.”

PIF approved more than $250 million in additional funding for LIV Golf this year, hiking the total investment to more than $5.3 billion since the league was launched four years ago. Documented losses are more than $1 billion from 2022 to 2024, according to Forbes.

LIV Golf executives were rushed from various corners of the planet to a meeting this week in New York where the future of the operation was discussed in private and decisions were made.

A few flew in from Mexico City, where this week’s tournament began Thursday at the Club de Golf Chapultepec. It is one of the highest-altitude golf courses in North America, and LIV golfers took deep breaths before answering press questions about reports that the organization was on the verge of collapse.

“For me, it didn’t make sense to think about it or waste time thinking about,” superstar golfer Jon Rahm said after shooting a first-round 65. “Since everything happened so suddenly and so quickly, I wasn’t very worried about it because normally, before the rumors start, we already know something — there’s always someone within the league who knows something.”

Communication at the tournament was spotty. A power outage at the course Tuesday caused interviews to be canceled, and streaming of the first round Thursday was down for about two hours because of what were described as technical difficulties.

Yet nothing could stop the speculation and growing unease about the future of LIV Golf. Money continues to hemorrhage, as does the roster of big-name golfers.

LIV Golf purses each week are $30 million — 50% more than PGA Tour purses. Enormous signing bonuses were doled out to secure the services of superstar golfers Phil Mickelson, Dustin Johnson, Cameron Smith, Bryson DeChambeau and Rahm. All received bonuses of at least $100 million to defect from the PGA Tour, and Rahm, a relative latecomer to LIV Golf, received a reported $300- to $500-million bonus.

Yet original LIV Golf members Brooks Koepka and Patrick Reed recently returned to the PGA Tour. Others are bound to follow.

Former PGA standout Greg Norman was the LIV Golf chief executive until resigning in August, citing exhaustion. His comments upon exiting might have foreshadowed the current difficulties.

“I knew there were going to be a lot of headwinds,” he told the Australian Golf Digest. “I didn’t anticipate the magnitude of those headwinds because … as time went by, those headwinds were created by misperceptions.”

Norman was replaced by O’Neil, whose internal message to the LIV staff Wednesday attempted to quiet concerns about PIF pulling the plug. He urged the golfers to focus on the season that is already underway.

“We are heading into the heart of our 2026 schedule with the full energy of an organization that is bigger, louder and more influential than ever before,” O’Neil wrote in the message obtained by Sports Illustrated. “The life of a startup movement is often defined by these moments of pressure. We signed up for this because we believe in disrupting the status quo.

“We have faced headwinds since the jump, and we’ve answered every time with resilience and grace. Now we answer by doing what we do best: putting on the most compelling show in sports.”

One of those headwinds is that “a compelling show” can be a relative term. LIV Golf has been popular in golf-starved locales such as Australia and South Africa, but TV ratings are low everywhere and interest in events held in the United States is tepid.

PIF — worth an estimated $1.15 trillion — launched LIV Golf as part of a strategy to transform Saudi Arabia into a global sports hub, using its vast oil revenue to drive economic diversification, create jobs and boost tourism. Initiatives include massive investments in soccer, tennis and esports in addition to golf.

The PGA Tour countered by increasing prize money and creating a series of limited-field “signature events” for top players. Rory McIlroy and Tiger Woods are among the sport’s top stars to steadfastly remain loyal to the PGA Tour, with Woods turning down an offer from LIV Golf of $800 million in 2022.

Mexico City is the sixth stop in the LIV Golf 14-tournament season that concludes in August. The Individual Championship finale is scheduled for Indianapolis from Aug 20–23.