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Billionaire Elon Musk, tasked with slashing government costs by President-elect Donald Trump, on Wednesday called for the elimination of a federal regulatory agency charged with protecting consumers in the financial sector.

The comment on the Consumer Financial Protection Bureau (CFPB) followsMusk’srecent appointmentto a government efficiency role, further amplifying the influence of the world’s richest man, who donated millions of dollars to help Trump get elected.

“Delete CFPB. There are too many duplicative regulatory agencies,” Musk said in a post on social media platform X.

The CFPB did not immediately respond to a request for comment.

Musk and former Republican presidential candidate Vivek Ramaswamy will co-lead a newly created Department of Government Efficiency, an entity Trump indicated will operate outside the confines of government.

The CFPB was created as part of the 2010 Dodd-Frank financial reform law to police and regulate consumer financial products following the 2008 crisis and only Congress has the power to eliminate it.

Separately, Reuters reported on Wednesday, citing sources, that the consumer finance watchdog is moving ahead with rulemaking in the final weeks of Joe Biden’s Democratic administration, in a bid to advance consumer protections before Trump overhauls the agency.

Republicans have sought to curtail or eliminate the agency from the outset, but legislative efforts to either scrap it altogether, or place stricter limits on its funding and leadership structure, have failed to gain traction in the years since its creation.

Banking industry executives and lawyers also anticipate the incoming Trump administration will likely place significant limits on the CFPB.

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MasterChef’s Gregg Wallace steps down as Kirsty Wark among 13 who claim he made inappropriate sexual jokes

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MasterChef's Gregg Wallace steps down as Kirsty Wark among 13 who claim he made inappropriate sexual jokes

MasterChef host Gregg Wallace has stepped down over allegations he made a series of inappropriate sexual comments on a range of programmes over 17 years.

Broadcaster Kirsty Wark is among 13 people who have made claims, with Wallace being investigated by MasterChef’s production company Banijay UK.

In an interview with the BBC, the Newsnight presenter, who was a celebrity contestant on MasterChef in 2011, claimed Wallace used “sexualised language”.

“There were two occasions in particular where he used sexualised language in front of a number of people and it wasn’t as if anyone engaged with this. It was completely one-way traffic,” Wark said.

“I think people were uncomfortable and something that I really didn’t expect to happen.”

Sky News has contacted Wallace’s representative for comment.

Wallace avoided questions when asked by Sky News about the claims.

Kirsty Wark arriving at the BAFTA Scotland Awards at DoubleTree by Hilton Glasgow Central. Picture date: Sunday November 17, 2024.
Image:
Kirsty Wark. File pic: PA

‘Fully cooperating’

Banijay UK said the complaints were made to the BBC this week by “individuals in relation to historical allegations of misconduct while working with Gregg Wallace on one of our shows”.

The company said the 60-year-old, who has been a co-presenter and judge of the popular cooking show since 2005, was “committed to fully cooperating throughout the process”.

“Whilst these complainants have not raised the allegations directly with our show producers or parent company Banijay UK, we feel that it is appropriate to conduct an immediate, external review to fully and impartially investigate,” the company said.

“While this review is under way, Gregg Wallace will be stepping away from his role on MasterChef and is committed to fully co-operating throughout the process.

“Banijay UK’s duty of care to staff is always a priority and our expectations regarding behaviour are made clear to both cast and crew on all productions, with multiple ways of raising concerns, including anonymously, clearly promoted on set.

“Whilst these are historical allegations, incidences brought to our attention where these expectations are not met, are thoroughly investigated and addressed appropriately.”

A BBC spokesman said: “We take any issues that are raised with us seriously and we have robust processes in place to deal with them.

“We are always clear that any behaviour which falls below the standards expected by the BBC will not be tolerated.

“Where an individual is contracted directly by an external production company we share any complaints or concerns with that company and we will always support them when addressing them.”

The TV star’s lawyers say “it is entirely false that he engages in behaviour of a sexually harassing nature”, BBC News reports.

Previous investigation

Last month, Wallace responded to reports that a previous BBC review had found he could continue working at the corporation following reports of an alleged incident in 2018 when he appeared on Impossible Celebrities.

Wallace said those claims had been investigated “promptly” at the time and said he had not said “anything sexual” while appearing on the game show more than half a decade ago.

In an Instagram post following an article in The Sun newspaper, he wrote: “The story that’s hitting the newspapers was investigated promptly when it happened six years ago by the BBC.

“And the outcome of that was that I hadn’t said anything sexual. I’ll need to repeat this again. I didn’t say anything sexual.”

Read more from Sky News:
Davina McCall feeling ‘stronger’ after brain tumour surgery
Robbie Williams says people from the 90s shouldn’t be shamed

Alongside MasterChef, Wallace presented Inside The Factory for BBC Two from 2015.

Wallace and Anne-Marie Sterpini in 2014
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Wallace and his wife Anne-Marie Sterpini in 2014. Pic: PA

Wallace has featured on various BBC shows over the years, including Saturday Kitchen, Eat Well For Less, Supermarket Secrets, Celebrity MasterChef and MasterChef: The Professionals, as well as being a Strictly Come Dancing contestant in 2014.

He was made an MBE for services to food and charity last year.

Recorded episodes of MasterChef: The Professionals featuring Wallace will be transmitted as planned, the PA news agency understands.

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Lizzo Says These 3 Healthy Habits Helped Her Lose 60 Pounds

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Share on Pinterest Music star Lizzo has dropped over 60 pounds following three healthy habits. SAUL LOEB/AFP via Getty ImagesGrammy-award-winning singer Lizzo is showing off her significant weight loss.The pop star credits a caloric deficit, high protein diet, and strength training for the transformation.Despite claims made online, Lizzo has denied using GLP-1 medications like Ozempic to lose weight.

Pop superstar Lizzo is showing off her weight loss journey on social media and educating fans on how she did it.

The self-described former vegan credits her weight loss success with three healthy habits: a high protein diet (with plenty of animal-based protein), a caloric deficit, and strength training.

While some fans online have speculated that the singer has been using a GLP-1 drug like Ozempic to lose weight, she has candidly shut down those rumors.

Its like a reward, the singer lip-synced in an Instagram video with the caption, When you finally get Ozempic allegations after five months of weight training and calorie deficit.

In an interview with Business Insider, her trainer, Corey Calliet, also refuted those rumors, telling the publication, She never wanted to do it, not one time. Ozempic doesnt get this credit. Shes really working. Shes earning that body that she wants.

Healthline asked experts to break down Lizzos keys to success. Lizzo stopped being vegan and ate a high protein diet

Lizzo, a former vegan, credits a high protein diet (specifically involving animal-based protein) as a large part of her weight loss success.

In a video entitled What I eat in a day as a former vegan, she explains how she transitioned back to animal-based protein and how it has affected her health.

The singer describes how she was reintroduced to animal-based protein during a trip to Japan when a friend suggested she try a Japanese diet.

After tests and research, I found that animal proteins helped me have more energy, lose weight, and helped with my mental fog, Lizzo said. This is the diet thats helped me reach my goals and helped me feel good in my body.

Throughout the video, the singer shows off what she eats throughout the day, which includes a variety of protein-rich, low carb meals:Egg white cups with cauliflower hash browns and fruitA buffalo chicken lettuce wrapGrilled chicken, asparagus, and carrots

Kristin Kirkpatrick MS, RD, a nutritionist at the Cleveland Clinic and co-author of Regenerative Health, told Healthline, Protein fills you up (satiating), and anytime we increase one macronutrient, we often decrease another. Therefore, effective weight loss could be the result of both increasing protein, as well as lowering carbohydrates both may be effective for weight loss.

However, Kirkpatrick points out that quality is key over quantity when deciding on a protein source.

I will make sure to structure a plan that fits within their preferences while containing the greatest nutrient density, focusing on wild salmon and eggs, for example, over processed red meat, as well as a focus on beans and legumes as well, she said. A calorie deficit is key to weight loss

A healthy diet is just one part of the weight loss equation, Lizzo also credits a calorie deficit, which shes maintained for the past five months.

A calorie deficit is when you burn more calories than you consume. In other words, the number of calories in must be less than the calories out. If you consume fewer calories than you expend, this may lead to gradual weight loss, said Alyssa Kwan, MS, RD, a Clinical Dietitian in Cardiology at Stanford Medicine.

Your diet is what facilitates a calorie deficit, but doesnt guarantee it. If you eat more calories than you expend during daily activity, you wont lose weight.

In Lizzos case, a high protein diet was right for her goals but might not be right for someone else.

The key to any weight loss is still a calorie deficit. High protein diets can work for weight loss for some individuals as it can also lead to a calorie deficit. However, there is not enough evidence to say that all high protein diets will result in weight loss, said Kwan. Strength training vs cardio for weight loss

In addition to diet and calorie deficit, Lizzo has also been hitting the gym five days a week for strength training, according to Calliet.

Strength training or resistance training refers to weightlifting or bodyweight exerc ises rather than cardiovascular exercise, like using a treadmill.

Calliet explained to Business Insider that Lizzos training focuses on high intensity circuit training.

Both cardiovascular exercise and strength training can be effective for weight loss, however which one is better is hotly debated.

Cardio tends to burn more calories per session, which can put you deeper into a calorie deficit. On the other hand, strength training leads to muscle development which improves your metabolism in the long run.

Resistance training and aerobic exercise should both be considered for optimal health. However, resistance training can specifically assist in building and maintaining muscle mass. Since muscle burns more calories at rest, its essential for both weight loss (to ensure loss of fat over muscle while losing weight) and weight loss maintenance, said Kirkpatrick.

Kwan points out that no matter which type of exercise you choose, maintaining a calorie deficit and the quality of calories are important factors for weight loss. The bottom line

Grammy-award-winning singer Lizzo credits three things for her weight loss success: a calorie deficit, high protein diet, and strength training.

A calorie deficit is when you burn more calories than you consume. A healthy, sustainable diet can help you achieve a calorie deficit.

Lizzo, a former vegan, credits a high protein diet, specifically involving animal-based protein, as an important aspect of her weight loss.

However, experts caution that diets are not one size fits all and that individuals should consult with a dietitian and do what is right for them.

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Credit Suisse conviction in 2022 cocaine cash laundering case reaches decision

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A top Swiss court on Wednesday acquitted Credit Suisse, now part of UBS, of failing to prevent money laundering by a Bulgarian cocaine trafficking gang, overturning a 2022 conviction.

The Federal Criminal Court’s original ruling was seen as a test case for the prosecution of banks.

It had found an ex-employee of the bank guilty of money-laundering, and Credit Suisse of failing to do enoughtostop thegang from laundering profits through thelender from2004 to 2008.

The former employee died in April 2023; her heirs and the bank filed an appeal that November.

In a statement, the federal court’s appeals chamber said that, because the woman had died, it was not possible to examine the alleged violation of the criminal code without violating the presumption of innocence in her case.

“For this reason, the bank was acquitted and the compensation demand imposed on it was canceled,” it said.

In 2022, Credit Suisse had been fined 2 million Swiss francs ($2.3 million).

The court at the time also ordered the confiscation of assets worth more than 12 million francs that the gang held in Credit Suisse accounts, and told the bank to pay compensation of over 19 million francs — the value of the gang’s assets that could not be confiscated due to deficiencies at the bank.

Credit Suisse collapsed in March 2023 after a series of scandals and setbacks, and was taken over by UBS.

UBS welcomed the ruling, noting that the case was a legacy matter relating to Credit Suisse.

“Subject to an appeal by the Swiss federal attorney general’s office, the verdict brings this legal issue to a close,” UBS said in a statement.

The attorney general’s office said it would analyze the findings and then decide on appropriate action.($1 = 0.8832 Swiss francs)

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