Business
Fed Governor Lisa Cook sues Trump over his attempt to fire her
Federal Reserve governor Lisa Cook has sued President Donald Trump over his attempt to fire her, setting up a potential legal battle with implications for the US central bank’s autonomy.
Cook has asked the court to declare Trump’s firing order “unlawful and void”, and also named Fed Chairman Jerome Powell as defendant.
Trump has said there was “sufficient reason” to believe Cook had made false statements on her mortgage, and cited constitutional powers which he said allowed him to remove her. Cook previously said that “no cause exists under the law” to sack her.
The president has put increasing pressure on the Fed over what he sees as an unwillingness to lower interest rates.
Cook is part of the board responsible for setting interest rates in the US.
Thursday’s lawsuit is likely to bring up a number of legal challenges that could end up at the US Supreme Court.
“This case challenges President Trump’s unprecedented and illegal attempt to remove Governor Cook from her position which, if allowed to occur, would be the first of its kind in the Board’s history,” Abbe Lowell, Cook’s attorney, wrote in the lawsuit.
“It would subvert the Federal Reserve Act … which explicitly requires a showing of ’cause’ for a Governor’s removal, which an unsubstantiated allegation about private mortgage applications submitted by Governor Cook prior to her Senate confirmation is not,” Lowell wrote.
White House spokesperson Kush Desai told the BBC the president “exercised his lawful authority to remove” Cook.
“The President determined there was cause to remove a governor who was credibly accused of lying in financial documents from a highly sensitive position overseeing financial institutions,” he said. “The removal of a governor for cause improves the Federal Reserve Board’s accountability and credibility for both the markets and American people.”
The Federal Reserve Act does not give the president authority to remove a Fed official at will, but as Trump has said, it does allow him to do so “for cause”.
The allegations against Cook were first made in a public letter from housing finance regulator, Bill Pulte, a Trump ally. In the letter he accused Cook of falsifying records to obtain a mortgage.
The letter alleges that she signed two documents, two weeks apart, attesting that two homes in different states were both her primary residence. No charges have been brought against Cook and it is unclear if she is under investigation for these allegations.
Cook’s lawsuit does not address those allegations.
She previously denied that there was any cause to sack her and legal experts have shown scepticism in Trump’s standing.
She is one of seven members of the Fed’s board of governors, and in this position sits on the 12-member committee which is responsible for setting interest rates in the US.
Since returning to Washington, Trump has put increasing pressure on the Fed – especially Powell – over interest rates.
The US president nominates candidates for the role, so removing Cook would mean she could be replaced by someone more favourable to lower interest rates and to the Trump economic agenda.
The Fed’s decision affects the rate at which Americans can borrow money as well as the savings rates on their bank accounts. US interest rates are also closely watched by central banks who set monetary policy in other countries.
Cook voted alongside Powell and most other members of the committee to maintain US interest rates at the Fed’s last rate-setting meeting at the end of July.
Charlotte EdwardsBusiness reporter, BBC News
Getty ImagesPizza Hut is to close 68 restaurants and 11 delivery sites in the UK with the loss of 1,210 jobs, after the firm running them fell into administration.
DC London Pie Limited, which operates Pizza Hut’s UK restaurants, appointed FTI Consulting as administrators on Monday.
However, Pizza Hut’s global owner Yum! Brands has agreed to save 64 restaurants, preserving 1,276 jobs.
Pizza Hut is well known for its family-friendly dining and salad bar, but its UK business has been struggling and had previously gone into administration less than a year ago.
DC London Pie had bought Pizza Hut UK’s restaurants from insolvency in January this year. The company also owns Pizza Hut franchises in Sweden and Denmark.
A spokesperson for Pizza Hut UK said: “We are pleased to secure the continuation of 64 sites to safeguard our guest experience and protect the associated jobs.”
Nicolas Burquier, managing director for Pizza Hut Europe and Canada, said: “This targeted acquisition aims to safeguard our guest experience and protect jobs where possible.”
He added that the immediate priority for Pizza Hut was “operational continuity at the acquired locations and supporting colleagues through the transition”.
Zoe Adjay, a senior lecturer in hospitality at the University of East London, said Pizza Hut had been “at the forefront of bringing fast food into the UK” in the 1970s, but had struggled to remain relevant amid increased competition.
“The pizza market has become a lot more upmarket,” she said. “There’s a lot more high-end pizza and they’ve taken a huge market share.”
Ms Adjay added that Pizza Hut had also failed to establish itself on social media in the same way as some of its competitors.
Increased operating costs and “ongoing consumer caution” will likely have contributed to Pizza Hut’s challenges, according to Danni Hewson, head of financial analysis at AJ Bell.
“DC London Pie had rescued Pizza Hut’s UK operations from insolvency less than a year ago, but making a success of a big-name casual dining businesses is a tough job.
“Taking back the brand looks a smart move by Yum! Brands as it has decades of data about how pizza lovers like to consume and exactly what factors need to coalesce to make a location a success.”
Business
Explained: India launches e-Arrival Cards for foreign travellers — how it works & how to apply – The Times of India
The government has rolled out a new digital system for foreign nationals entering India. Beginning October 1, 2025, travellers can now submit an electronic arrival form instead of the traditional paper card. The initiative aims to simplify entry formalities, improve efficiency at airports, and enhance data accuracy. As per ET, the e-arrival card is part of the government’s broader efforts to digitise immigration procedures and make travel to India smoother for international visitors.
How to apply for the e-Arrival Card
According to ET, the e-arrival card can be filled and submitted online through three official platforms — the Indian visa website (https://indianvisaonline.gov.in/), the Bureau of Immigration website (http://boi.gov.in), or the Su-Swagatam mobile app. Travellers can complete the process up to 72 hours before their scheduled journey to India.
What happens to the paper form?
The government has announced that the paper arrival form will continue to be accepted for the next six months. However, as per information shared on the US Embassy’s website, foreign travellers are encouraged to opt for the e-arrival option for “a faster and more efficient customer experience.” This digital alternative aims to reduce queues and manual data processing at airports while allowing travellers to complete formalities in advance.
How to fill the e-Arrival Card
Passengers must visit https://indianvisaonline.gov.in/earrival/ to access the new digital form. The form requires accurate personal, travel, and contact details. Under ‘Personal Details’, travellers must provide their full name (as per passport), nationality, passport number, and purpose of visit. In the Arrival Details section, travellers should enter their arrival date and list countries visited in the past six days before submitting the form online.
Difference between e-Arrival Card and e-Visa
According to the US Embassy, the e-arrival form is entirely separate from the e-visa process. “US citizens should note that this arrival form change is separate from the e-visa application process. US citizen travellers are now able to travel to India with a valid e-visa (or physical visa from an Indian embassy/consulate) AND a valid e-arrival form,” the embassy clarified.
New Delhi: Tesla and SpaceX CEO Elon Musk on Monday extended Diwali greetings to Indians and millions of people celebrating the festival of lights across the world.
Musk reposted a Diwali greeting on the social media platform X, saying “Happy Diwali”, while tagging a post from his company’s subsidiary Tesla India, saying, “Wishing you an electrifying and safe Diwali.”
Musk on October 2 became the world’s first person ever to reach a net worth of $500 billion, followed by Oracle’s Larry Ellison at a distant second. According to Forbes’ billionaires index, Musk’s net worth stood at $500.1 billion on October 2.
His feat came as Tesla shares rose over 14 per cent so far this year, closing 3.3 per cent higher on Wednesday (US time), adding more than $6 billion to Musk’s wealth.
Musk’s AI startup xAI was valued at $75 billion (as of July). xAI was targeting a $200 billion valuation after a fundraise, although Musk said the company was not raising capital at that time.
Meanwhile, Tesla has started delivering standard Model Y to its customers in India, while the delivery of the Long Range variant is going to commence soon.
The electric vehicle maker has announced that the new Model Y owners will be provided with a complimentary Wall Connector, allowing convenient installation in their parking space for easy home charging. The Model Y is available at a starting price tag of Rs 59.89 lakh.
In August, Tesla inaugurated its first showroom in the National Capital Region (NCR) at the Worldmark 3 complex in Aerocity, marking the electric carmaker’s second retail location in India (after Mumbai).
Several other global tech industry leaders also extended their Diwali wishes during the day. Apple CEO Tim Cook shared wishes along with sharing an image taken by an Indian photographer with an iPhone 17 Pro Max. Google CEO Sundar Pichai also extended his greetings for the festival of lights.
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