probe

Markets in Europe showed little movement on Monday after a broad rally in Asia.

US futures dipped, meanwhile, after Federal Reserve Chair Jerome Powell said the Department of Justice had served the central bank with subpoenas.

Powell noted that the threat of a criminal indictment relates to his testimony about the Fed’s building renovations.

President Donald Trump insisted that he did not “know anything” about the investigation that escalates a nearly year-long feud between the government and the central bank.

When asked by NBC if the probe is intended to pressure Powell on rates, Trump said: “No. I wouldn’t even think of doing it that way.”

Trump has nonetheless criticised the $2.5 billion (€2.13bn) renovation of two Fed office buildings as excessive.

Gold and silver continue to rise

Markets appeared to take the news in their stride, although gold and other safe-haven assets climbed.

Gold vaulted over $4,600 an ounce, shooting up over 2.5%, and silver approached $85 for the first time, rising over 7%. Copper futures in the US jumped by 2.52% to $6.051.

Powell’s term as chair ends in May, and Trump administration officials have signalled that he could name a potential replacement this month. Trump has also sought to fire Fed governor Lisa Cook, another move that chips away at central bank independence.

Gold’s rise is also linked to unrest in Iran as nationwide demonstrations against leader Ayatollah Ali Khamenei enter a third week. More than 500 people have been killed during the demonstrations, according to the US-based Human Rights Activists News Agency, including 490 protesters.

President Trump said that he intends to intervene in the country if the Iranian government continues to kill protestors.

US futures dip lower

Futures for the S&P 500 dipped by 0.53% a few hours before daily trading started on Wall Street.

Futures for the Dow Jones Industrial Average fell 0.67%, while the Nasdaq composite index slipped 0.71% in pre-market trading.

Last Friday, US stocks hit records following a mixed report on the US job market. The data may delay another cut to interest rates by the Federal Reserve but does not entirely rule out the possibility.

The S&P 500 climbed 0.65% to 6,966.28, topping its prior all-time high set earlier in the week. The Dow Jones Industrial Average added 0.5% to 49,504.07 and likewise set a record. The Nasdaq composite led the market with a 0.8% gain, closing at 23,671.35.

The US Labor Department said employers hired fewer workers during December than economists expected, though the unemployment rate improved and was better than expected. An update on US inflation at the consumer level is due Tuesday, followed by a report on wholesale prices on Wednesday.

In other dealings early Monday, the dollar fell to 157.8180 Japanese yen, a daily drop of less than 0.1%. The euro climbed to $1.1691, a 0.49% rise.

US benchmark crude oil gave up early gains, falling to $58.91 per barrel. Brent crude, the international standard, dropped to $63.18 per barrel.

Rest of the world

In Germany, the DAX was nearly flat at 25,358.17, while France’s CAC 40 also showed modest movements, coming to 8,359.71 by mid-afternoon. Britain’s FTSE 100 edged less than 0.1% higher, to 10,127.05.

In Asian trading, Hong Kong’s Hang Seng gained 1.44% to 26,608.48, while the Shanghai Composite index jumped 1.09% to 4,165.29 after reports that Chinese leaders were preparing additional support for the economy.

In South Korea, the Kospi added 0.84% to 4,624.79 while Australia’s S&P/ASX 200 gained 0.48% to 8,759.40. Taiwan’s Taiex gained 0.92%.

Police and military officials launched a joint investigation Monday to investigate North Korea‘s claims of drone incursions across the inter-Korean border.

On Saturday, the North’s military claimed that South Korea violated the North’s sovereignty by sending drones into its territory in September and on Jan. 4, but Seoul’s defense ministry denied the claim.

The joint team of some 30 police and military officials has started investigating the alleged incursions, according to the National Police Agency’s National Office of Investigation.

South Korea’s military has denied sending the drones or operating the models allegedly found in the North, raising the possibility that private entities may have been behind them.

Police are reportedly prioritizing looking into past cases involving drones similar to the model unveiled by North Korea.

Experts have rejected the drones in question were operated by the military, saying they appear to use low-cost commercial parts unfit for military purposes.

Some have said the drones appear similar to a model from Chinese drone manufacturer Skywalker Technology.

BREAKINGBREAKING,

Central bank chair condemns ‘intimidation’ following grand jury subpoenas.

United States President Donald Trump’s administration has opened a criminal investigation into Federal Reserve Chair Jerome Powell, in a development set to heighten concerns about the independence of US monetary policy.

Powell said on Sunday that the central bank had been served with grand jury subpoenas related to his testimony about renovations to the Fed’s headquarters in Washington, DC.

“The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the president,” Powell said in a rare video message.

“This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions – or whether instead, monetary policy will be directed by political pressure or intimidation.”

More to follow…

Dec. 31 (Asia Today) — South Korean police investigating lobbying allegations involving the Unification Church raided the home of Jeong Won-ju, a former chief secretary to church leader Han Hak-ja, on Wednesday, authorities said.

The National Police Agency’s National Investigation Headquarters special task force carried out a search and seizure at Jeong’s residence in Gapyeong, Gyeonggi Province, in connection with allegations that former Democratic Party lawmaker Jeon Jae-su accepted bribes, police said.

Investigators also searched the office of the special prosecutor handling a case involving former first lady Kim Keon-hee in Seoul’s Jongno district, police said, adding they secured materials related to the bribery allegations.

Jeong was sent to prosecutors the previous day on suspicion of violating the Political Funds Act over what police described as split donations to politicians from both major parties in early 2019. In the Jeon case, police are treating Jeong as a witness, according to the report.

Jeon is accused of receiving 20 million won (about $15,000) in cash and a luxury watch worth 10 million won (about $7,700) from the Unification Church in 2018 along with requests tied to church-related issues.

Police previously summoned Jeon as a suspect on Dec. 19 on allegations including violating the Political Funds Act. Investigators executed search warrants on Dec. 23 targeting Bulgari Korea and Cartier as they sought to verify the timing and value of the alleged gifts, the report said.

Police are expected to summon Jeon again after reviewing materials seized in the latest searches, it said.

Separately, police began questioning a former chair of the Universal Peace Federation, a Unification Church affiliate tied to the Korea-Japan undersea tunnel project, as a witness Wednesday, the report said. The tunnel project is considered one of the major issues the church lobbied for in political circles.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Dec. 30 (Asia Today) — President Lee Jae-myung on Tuesday ordered prosecutors and police to investigate allegations that the Unification Church lobbied politicians, directing authorities to begin work even as political parties debate appointing a special prosecutor.

Speaking at a Cabinet meeting at the presidential office, Lee said investigators should coordinate in advance on how the case would be handled if it is later transferred to a special prosecutor.

“Even if it becomes a special prosecutor case during the investigation and is handed over then, it would be better for the prosecution and the Ministry of the Interior and Safety to consult beforehand and decide who will handle it or if they will work together, and form a team,” Lee said. “It doesn’t seem like something we should just wait around for.”

Lee said religious interference in politics, bribery and collusion are serious matters that threaten democracy and the country’s future.

Prime Minister Kim Min-seok also called for a strong response, saying he believes instability in state affairs has been fueled by what he described as “shamanistic politics” and church-state collusion.

Kim said it was timely that discussions are emerging about appointing a special prosecutor to investigate the Unification Church and potentially expanding the scope to include Shincheonji, while warning the process could be derailed by political disputes.

He suggested the government should prepare for the possibility the political process fails to produce an agreement and said authorities could consider setting up a government-level special investigation headquarters.

– Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Families of victims of the deadly attack on a Jewish celebration at Australia’s Bondi Beach earlier this month have called for a national inquiry into rising anti-Semitism.

In an open letter published on Monday, relatives of 11 of the victims of the attack called on Australian Prime Minister Anthony Albanese to hold a royal commission into what they called the “rapid” and “dangerous” rise of anti-Jewish sentiment following Hamas’s October 7, 2023 attacks on Israel.

Fifteen people, most of them Jewish, were killed when two gunmen opened fire on a Hanukkah celebration at Sydney’s iconic Bondi Beach on December 14.

Australian authorities have said the suspected gunmen, Sajid Akram and his son Naveed, were inspired by the ISIL (ISIS) group.

In their letter, the families said they needed to know why “clear warning signs were ignored” and “how antisemitic hatred … [was] allowed to dangerously grow unchecked”.

“As proud Australians and proud Jews, we have endured more than two and a half years of relentless attacks,” the families said.

“Our children feel unsafe at school and university. Our homes, workplaces, sporting fields, and public spaces no longer feel secure.”

The response of Albanese’s Labor government to the attack, including proposals to tighten gun laws and introduce tougher legislation against hate speech, was “not nearly enough,” the families said.

“The dangerous rise of antisemitism and radicalism in Australia is not going away,” they said.

“We need strong action now. We need leadership now.”

The calls for an inquiry into anti-Semitism came as Albanese on Monday announced the terms of an independent review into whether law enforcement and intelligence agencies could have done more to prevent the attack.

Albanese and his government colleagues have resisted calls for a public inquiry into the attack, arguing that such a process would take years and could undermine social cohesion by platforming extremist voices.

Albanese told a news conference that the review, led by former intelligence chief Dennis Richardson, would examine what authorities knew about the suspected gunmen before the attack and information sharing between federal and state agencies, among other issues.

“Just over two weeks ago, anti-Semitic terrorists tried to tear our country apart, but our country is stronger than these cowards,” Albanese said.

“They went to Bondi Beach to unleash mass murder against our Jewish community. We need to respond with unity and urgency rather than division and delay.”

Anti-Jewish sentiment, as well as anti-Islam and anti-immigration sentiment, are rising in Australia. Many Australians have expressed their concerns over a rise in right-wing extremism in the country, where one in two people is either born overseas or has a parent born overseas.

In September, thousands of people held rallies in cities, including Sydney, Perth, Canberra and Brisbane, demanding an end to “mass migration”.

The Australian government has condemned the rallies, which took place under the banner of “March for Australia”, as racist, while Minister for Multicultural Affairs Anne Aly said the gatherings were “organised by Nazis”.

The group behind “March for Australia” said on its website and social media that “mass migration has torn at the bonds that held our communities together” and that its rallies aimed to do “what the mainstream politicians never have the courage to do: demand an end to mass immigration”.

But Australia also experienced a sharp rise in both anti-Semitic and Islamophobic incidents since October 7, 2023.

The Executive Council of Australian Jewry, which supports the International Holocaust Remembrance Alliance’s (IHRA) definition of antisemitism, documented 1,654 anti-Jewish incidents nationwide between October 1, 2024 and September 30, 2025, after more than 2,060 incidents the previous year.

The Islamophobia Register Australia recorded 309 in-person incidents of Islamophobia and 366 online incidents between January 1, 2023 and November 31, 2024.

Numerous rights organisations, including some Jewish groups, have criticised the IHRA definition of anti-Semitism, arguing that it has been used to conflate legitimate criticism of Israel – particularly of its genocidal war on Gaza – with anti-Jewish bigotry.

One of Albanese’s highest-profile critics in the wake of the Bondi Beach attack was Israeli Prime Minister Benjamin Netanyahu – he blamed Albanese’s government for failing to protect Australia’s Jewish community and also linked the shooting to Australia’s recent decision to recognise Palestinian statehood.

Dec. 26 (Asia Today) — South Korea’s Ministry of Science and ICT (MSIT) said Thursday it had lodged a strong protest after Coupang unilaterally disclosed what it called investigation results into a customer data breach, stressing that the claims have not been verified by the ongoing joint probe.

In a press release, the ministry said a public-private joint investigation team is still closely examining the type, scale and cause of the data leak. “The assertions made by Coupang have not been confirmed by the joint investigation team,” MSIT said.

Earlier in the day, Coupang posted a notice on its website stating that it had identified the leaker and secured all devices and hard disk drives used in the breach. The company claimed that, based on its investigation to date, the leaker stored customer information limited to about 3,000 accounts and subsequently deleted all of it.

Coupang also said it used forensic evidence, including “digital fingerprints,” to identify a former employee responsible for the leak, adding that the individual confessed to all actions and provided a detailed account of how customer information was accessed.

MSIT reiterated that any conclusions regarding the incident must come from the joint public-private investigation, cautioning against premature disclosures that could mislead the public while the probe remains underway.

–Copyright by Asiatoday

DNA testing delays funeral plans as investigators examine the wreckage of jet crash that killed Libyan army chief.

Officials from Libya and Turkiye have stepped up coordination over the investigation into a plane crash near Ankara that killed Libya’s army chief and seven other people as forensic work and preparations for repatriating the bodies are conducted.

Libya’s Criminal Investigation Department chief, Major General Mahmoud Ashour, led a delegation to the Ankara Chief Public Prosecutor’s Office on Thursday as part of the joint inquiry.

The visit followed discussions with Turkish prosecutors overseeing the case.

On Tuesday, a private jet carrying Libya’s army chief of staff, Mohammed Ali Ahmed Al-Haddad, reported an electrical malfunction shortly after taking off from Ankara Esenboga Airport.

According to Turkiye’s head of communications, Burhanettin Duran, the aircraft, bound for Tripoli, requested an emergency landing 16 minutes after takeoff.

Air traffic controllers redirected the Dassault Falcon 50 back towards Ankara’s airport, but radar contact was lost three minutes later as the jet descended.

The wreckage was found near the village of Kesikkavak in Ankara’s Haymana district. Eight people, including three crew members, were killed.

Search and rescue teams reached the site after Turkiye’s Ministry of Interior launched emergency operations while multiple authorities joined the investigation into the cause of the crash.

Funeral prayers delayed

Reporting from Misrata, Libya, Al Jazeera’s Malik Traina said preparations were under way for the return of Al-Haddad’s body although the timeline remains uncertain.

“Earlier today, we spoke to the minister of communications, and we were told the funeral prayer will be held tomorrow. That’s starting to change, now they’ve been receiving phone calls from government officials saying that it could likely be postponed till Saturday,” Traina said on Thursday.

Traina said the recovery process has taken longer due to the severity of the crash, which scattered remains across a wide area and necessitated DNA testing.

“There’s a lot of pressure for that process to finish as soon as possible. Whether or not that’ll happen, we’re gonna have to wait and see.

“He really was someone who tried to build up the military institutions, especially in western Libya, a place that is divided with powerful armed groups and militias controlling vast areas of land.”

Police say there is ‘insufficient evidence’ to bring charges after investigating comments made at Glastonbury festival.

British police have said they will take no further action over comments made by punk-rap duo Bob Vylan about the Israeli military during a performance at the Glastonbury music festival in June.

Avon and Somerset Police said on Tuesday that the remarks did not meet the criminal threshold required for prosecution “for any person to be prosecuted”.

During the performance, the group’s lead singer – Pascal Robinson-Foster, known by his stage name Bobby Vylan – led chants of “death, death” directed at the Israeli military over its genocidal war in Gaza.

Police said there was “insufficient evidence to provide a realistic prospect of conviction”. The force added that it interviewed a man in his mid-30s and contacted about 200 members of the public as part of the investigation.

The chant, which was livestreamed by the BBC as part of its Glastonbury coverage on June 28, prompted a widespread backlash. The broadcaster later apologised for transmitting what it described as “such offensive and deplorable behaviour”, and its complaints unit found the BBC had breached editorial guidelines.

Avon and Somerset Police said it had considered the intent behind the words, the wider context, relevant case law and freedom of expression issues before concluding the investigation.

“We believe it is right this matter was comprehensively investigated, every potential criminal offence was thoroughly considered, and we sought all the advice we could to ensure we made an informed decision,” the statement said.

“The comments made on Saturday 28 June drew widespread anger, proving that words have real-world consequences.”

Following the performance, the United States revoked the visas of Bob Vylan, forcing the cancellation of a planned US tour scheduled to begin in October.

Bob Vylan have launched defamation proceedings against Irish broadcaster RTE, alleging it falsely claimed they led anti-Semitic chants during the Glastonbury performance.

In July, the British police also dropped an investigation into the Irish-language rap group Kneecap after chants of “Free Palestine” during a performance.

Detectives sought advice from the Crown Prosecution Service and decided to take no further action, citing “insufficient evidence to provide a realistic prospect of conviction for any offence”.

Dec. 22 (Asia Today) — South Korea’s presidential office said Monday it “respects the National Assembly’s decision” after the ruling Democratic Party backed the opposition’s call for a special prosecutor to investigate matters linked to the Unification Church.

A senior presidential official said the office has consistently supported a thorough investigation regardless of party or religion and described the move as consistent with that stance.

“The presidential office has consistently advocated for a strict investigation regardless of party or religion, so a special prosecutor aligning with that stance is only natural,” the official said, adding that the party’s shift should be seen as reflecting the presidential office’s position.

Democratic Party floor leader Kim Byung-ki said during a Supreme Council meeting at the National Assembly that he supports a special probe that would include politicians from both the ruling and opposition parties.

He said the People Power Party appears to believe the Democratic Party is avoiding a special investigation and urged proceeding with a special prosecutor focused on the Unification Church.

Democratic Party leader Chung Cheong-rae also said there was no reason not to accept the proposal and called for a full accounting that includes any People Power Party figures involved.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Minister says probe in response to case of ex-Reform UK lawmaker Nathan Gill, jailed for taking pro-Russia bribes.

The United Kingdom is launching an independent investigation into foreign interference in British politics, just weeks after a former Reform UK lawmaker was jailed for more than 10 years for taking bribes to make pro-Russia statements.

Steve Reed, the UK’s secretary of state for housing, communities and local government, said on Tuesday that he had ordered the probe in response to the case of Nathan Gill, a former Member of the European Parliament and ex-leader of Reform UK in Wales.

“A British politician took bribes to further the interests of the Russian regime,” Reed said in the House of Commons. “This conduct is a stain on our democracy. The independent review will work to remove that stain.”

Gill was sentenced to 10 years and six months in prison on November 21.

He pleaded guilty in September to accepting thousands of euros from a pro-Russian politician in Ukraine between 2018 and 2019, and making scripted statements and television appearances at his behest.

The case had spurred widespread condemnation from across the political spectrum, with Nigel Farage’s Reform UK party – which has been leading most polls – last month describing Gill’s actions as “reprehensible, treasonous and unforgivable”.

On Tuesday, Conservative MP Paul Holmes welcomed the independent review into foreign interference as a necessary step.

“Protecting the integrity of our democratic system from foreign interference is not a partisan issue. It goes to the heart of public trust in our elections,” Holmes told the House.

“Interference in our elections from foreign actors is something that we must all be vigilant against.”

Reed, the housing minister, said the independent probe would be led by Philip Rycroft, former UK permanent secretary for the Department for Exiting the European Union.

“The purpose of the review is to provide an in-depth assessment of the current financial rules and safeguards and make recommendations,” said Reed, adding that Rycroft has been asked to report his findings to the government by the end of March.

The minister noted that the British government put forward a strategy “for modern and secure elections” earlier this year in a push to address foreign interference and public distrust in the electoral system, among other issues.

But Reed said on Tuesday that “events have shown that we need to consider whether our firewall is enough”.

“The independent review will look at this,” he said, including by evaluating the UK’s existing political finance laws, systems to identify and mitigate foreign interference, and safeguards against illicit funding streams.

Dec. 15 (Asia Today) — Democratic Party leader Jeong Cheong-rae, whose party holds the presidency, on Monday called for a second, wide-ranging special investigation into an alleged insurrection case, raising questions about Supreme Court Chief Justice Cho Hee-dae after courts rejected arrest warrants for several figures tied to the probe.

Jeong made the remarks at a party Supreme Council meeting at the National Assembly in Seoul, as the mandate of a special prosecutor was set to end. He said the special prosecutor made progress byre-arresting former President Yoon Suk-yeol and referring 24 people to trial, but argued the investigation was constrained by court decisions, including warrant denials.

Jeong said the rejection of warrants for figures such as Choo Kyung-ho was “difficult to accept,” and claimed it fueled suspicions that the judiciary was blocking steps that could lead to broader legal consequences for the People Power Party. He also said the circumstances raised questions about whether Chief Justice Cho may have been involved, citing a meeting on Dec. 3, the day martial law was declared.

Jeong said the Democratic Party would work with the government and presidential office to push for what he called a “second comprehensive special investigation,” and urged a tougher approach without leniency. He said a follow-up probe should also examine allegations involving first lady Kim Keon-hee and issues the current special prosecutor did not fully resolve.

He additionally questioned court case assignment procedures, citing media reports that the treason-related trial was assigned through unusual in-person discussions rather than random distribution. He said the party would pursue legislation to create a specialized court for sedition-related cases.

Jeong also criticized the People Power Party’s use of filibusters, including on bills he said were bipartisan or originally proposed by the party, and said the Democratic Party would seek revisions to parliamentary rules governing the tactic. He offered condolences to victims of a collapse at a construction site at the Gwangju Central Library and called fora thorough investigation.

– Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.