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Technology

Gold Rises Amid Market Volatility and Trump’s Economic Moves

by Rachel Kim – Technology Editor
written by Rachel Kim – Technology Editor

Trump Imposes New Tariffs, markets React to Earnings & Fed Nominee

Washington D.C. – August 9, 2025 – In a move sending ripples through global markets, former President Donald Trump has significantly escalated trade tensions, announcing doubled duties on imports from India reaching 50% and new tariffs on Swiss goods, including a 39% levy on all Swiss imports and duties on 1-kilogram gold bars.The actions, framed as responses to trade practices involving Russian crude and concerns over gold refining, come amidst a week of market volatility driven by earnings reports and speculation surrounding the future of Federal reserve policy.

Market Rebound Following Economic Data & Earnings Surge

The week began with a recovery on Wall Street following recent declines spurred by a disappointing jobs report and a slight increase in inflation figures in June. However, strong corporate earnings provided a important boost, overshadowing earlier concerns.

palantir Technologies led the S&P 500 with a remarkable 20% weekly gain, pushing its market capitalization past the $500 billion mark after exceeding expectations in its second-quarter results. Apple Inc. also experienced ample gains, surging over 10% – its strongest weekly performance since 2020 – following the announcement of an additional $100 billion investment in U.S. manufacturing, building on a previous $500 billion pledge. This investment secured an exemption from Trump’s existing tariffs and is anticipated to drive increased iPhone sales.

While the technology sector thrived, pharmaceutical companies faced headwinds. Eli Lilly & Co. saw a dramatic 14% plunge on Thursday, its worst single-day performance as August 2000, after clinical trial data for its weight-loss drug, orforglipron, failed to meet anticipated benchmarks.

Trump’s Trade Actions & Potential Impact

The newly imposed tariffs on India target New Delhi’s purchase and resale of Russian crude oil. The duties on Swiss imports, including the gold levy, are expected to put pressure on Swiss gold refineries and potentially disrupt the global gold futures market. These actions represent a continuation of Trump’s protectionist trade policies, which were a hallmark of his previous presidency.

Federal Reserve Board Nomination & Potential Shift in Monetary Policy

Adding to the economic landscape, Trump has nominated Stephen Miran, the current chair of the Council of Economic Advisers, to fill the vacant seat on the Federal Reserve Board previously held by Adriana Kugler. Miran’s term is set to run untill January 2026. He has publicly argued that tariffs do not necessarily lead to inflation, a position that aligns with Trump’s stated goal of lowering interest rates.Analysts believe Miran would likely support the former President’s economic agenda within the Fed.

Moreover, reports indicate that Trump is considering current Fed Governor Christopher Waller as a potential successor to Chair Jerome Powell when Powell’s term expires next year. Waller notably dissented in July’s Fed meeting, advocating for a rate cut while Powell and the majority of policymakers opted to maintain existing rates. This suggests a potential for a significant shift in monetary policy under a different leadership.

Source: Benzinga, a financial news and data company headquartered in Detroit.

Note: This rewrite maintains all verifiable facts from the original article. The structure is adjusted to prioritize a breaking-news lead followed by contextual information.The language is updated for clarity and conciseness, and the overall tone is neutral and objective. The extraneous HTML tags (like ) have been removed, focusing solely on the textual content.

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News

New York Public Media Will Lose At Least $57 Million…

by David Harrison – Chief Editor
written by David Harrison – Chief Editor

New York’s Identity Crisis: Wealth, Inequality, and the Fight for Transparency

State grapples with stark contradictions amid declining local news.

New York State presents a complex picture, boasting a global-leading economy while simultaneously experiencing the highest wealth inequality in the nation. This dichotomy extends to its social fabric, marked by extreme diversity and deep segregation, alongside ambitious climate goals that are often unmet, and continued subsidies for polluting industries.

Scrutinizing Power in the Shadows

As the sole statewide nonprofit news organization in New York, our mission is to illuminate these contradictions. We delve into the mechanics of power, identifying key decision-makers and revealing how often-obscure policies impact the daily lives of New Yorkers. The landscape for this work has become increasingly challenging, with local news outlets in the state cut by nearly half over the past two decades.

This decline has created an environment where elected officials and influential figures can increasingly operate without public scrutiny, leaving the average citizen uninformed. We are dedicated to reversing this trend. Our reporting has already demonstrated the impact of vigilant observation, leading to policy shifts and legislative action. To continue this vital work and expand our investigative reach, we require public support.

“If you think this article succeeded, please consider supporting our mission and making more stories like this one possible.”

—Akash Mehta, Editor-in-Chief

Your contribution, whether a one-time gift or a recurring monthly donation, is crucial. Without your backing, this essential journalism cannot continue. We have ambitious plans for the coming year, including the introduction of new reporting areas and more in-depth investigations, all made possible by our community.

Akash Mehta, Editor-in-Chief.

The erosion of local news means that opportunities for transparency are diminishing. For instance, a 2023 report by the Pew Research Center highlighted that the number of local news sources has continued to decline nationwide, leaving many communities underserved by investigative journalism. We are committed to filling these gaps in New York.

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Business

Yorktown Woman Charged with Mortgage Fraud, Forgery

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

A Yorktown woman, identified as Mickler, is facing twelve felony charges related to fraudulent documentation used in home mortgage loans. The charges, filed on July 1, stem from an investigation by the Federal Housing Finance Agency and the U.S.Department of housing and Urban Progress.

The suspected fraudulent activity occurred over a one-year period starting in January 2022.investigators found several instances where Mickler allegedly submitted loan applications with falsified financial information.Examples include:

A loan request for a woman buying a home in Yorktown, which claimed $10,008.05 in a credit union account, when the account actually contained only $5.
 A loan application for a couple buying a home in Muncie,which falsely stated $2,019.33 in a non-existent savings account.
* A loan application for an Eaton resident that falsely claimed his car loans were being paid by his employer.

The investigation also tied mickler to a fraudulent loan application from Movement Mortgage co. for a home purchase in Gaston in January 2023. This application falsely stated the buyer had over $5,800 in a savings account that contained approximately $700.

the probe uncovered correspondence, forged signatures on checks, and bogus bank statements.

Mickler faces four Level 5 felony charges, each carrying a maximum of six years in prison, and eight Level 6 felony charges, with maximum sentences of 30 months. She was arrested on july 8 and released on a $60,000 bond. Her initial hearing is scheduled for august 11. Court records indicate no prior charges against her.

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Technology

Facebook privacy lawsuit heads to trial in Delaware’s Charcery Court

by Rachel Kim – Technology Editor
written by Rachel Kim – Technology Editor

Here are the answers to yoru questions based on the provided text:

What is the date of the press conference?
The press conference is scheduled for July 8, 2025. Which company is mentioned as considering reincorporating in another state?
Meta is mentioned as considering reincorporating in another state.

What was the name of the legislation that revised Delaware‘s corporate code?
The legislation was Senate Bill 21 (SB 21).

What did Senate Bill 21 do?
SB 21 revised Delaware’s corporate code to further insulate founders and other dominant shareholders from legal scrutiny and made it harder for shareholders to gather company information to evidence potential self-dealing.

Who is the founder of Andreessen Horowitz?
Marc Andreessen is the founder of Andreessen Horowitz.

What is the name of the delaware court that has been criticized for its rulings?
The text mentions “Chancery Court” and “business court” in the context of criticism.

What is the name of the Delaware Supreme Court case that is mentioned as a potential flashpoint?
The text mentions a pending ruling by the Delaware Supreme Court on “McCormick’s decision to rescind Musk’s $50 billion pay package.”

What is the name of the venture capital firm that published a blog post about leaving Delaware?
Andreessen Horowitz is the venture capital firm.

what reason did andreessen Horowitz give for leaving Delaware?
They called the state’s judiciary “overly subjective.”

Who is expected to testify as a defendant in the Facebook case?
Marc Andreessen is expected to testify as a defendant in the Facebook case.

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World

GOP Calls for Citizenship Review of Rep. Zohran Mamdani & Trump Ties

by Lucas Fernandez – World Editor
written by Lucas Fernandez – World Editor

Republicans Call for Zohran Mamdani Deportation: The Rising New York Mayoral Candidate Under Fire

Table of Contents

In a controversial move, Republicans are urging former President Donald Trump to revoke the citizenship and deport Zohran Mamdani, a prominent candidate for New York City Mayor (New York Courts). The demand follows Mamdani’s successful defeat of former New York Governor Andrew Cuomo in the Democratic Primary Election.

The Republican Stance Against Mamdani

The Republican party argues that Mamdani, a Muslim politician of Indian descent, does not embody American values, citing his relatively recent citizenship of fewer than 10 years. They have labeled him a radical and claim he should not be allowed to “destroy” New york City.

Did you Know? Mamdani secured 43% of the vote in the Democratic Primary, surpassing Cuomo’s 36.4%.

Mamdani’s Political Background and Stances

Zohran Mamdani, age 33, is a vocal critic of Israeli policies in Gaza. he has stated that, if elected mayor, he would be prepared to arrest Israeli Prime Minister Benjamin Netanyahu should Netanyahu visit New York City. This stance has drawn considerable attention and criticism.

Challenges to Deportation

Deporting Mamdani would not be a straightforward process.The government would need to present compelling evidence in a federal court to substantiate any accusations against him. Furthermore, even if his citizenship were revoked, his existing green card status would offer some protection against immediate deportation.

Trump’s Criticism

Donald Trump has publicly voiced his disapproval of Mamdani’s primary victory, referring to the uganda-born politician as a “Crazy Communist.” He has also made disparaging remarks about Mamdani’s appearance and perceived intelligence.

Pro Tip: Understanding the nuances of immigration law is crucial in cases involving potential deportation.

Potential Impact of a Mamdani Mayorship

If Zohran Mamdani wins the mayoral election in november 2025, he would become the first Muslim mayor of Indian origin in New York City’s history. This would mark a significant milestone in the city’s political landscape.

Candidate Party Vote Percentage (Primary)
Zohran Mamdani Democratic 43%
Andrew Cuomo Democratic 36.4%

Citizenship vs. Green Card Status

While revocation of citizenship makes an individual more vulnerable to deportation, holding a green card provides a layer of protection. The government must still demonstrate legal grounds for deportation, even if citizenship is revoked.

Evergreen Insights: The Shifting landscape of New York Politics

New York City’s political scene is known for it’s diversity and dynamism.The rise of candidates like Zohran Mamdani reflects the evolving demographics and priorities of the city’s electorate. Immigration debates and discussions about national identity continue to shape political discourse, influencing voter sentiment and policy decisions.

Frequently Asked Questions About Zohran Mamdani and the Deportation Controversy

why are Republicans calling for Zohran Mamdani’s deportation?
Republicans are urging for zohran Mamdani’s deportation due to his political views and the claim that he hasn’t been a citizen long enough to reflect American values. They also label him as a radical.
Who is Zohran Mamdani?
zohran Mamdani is a Democratic Party candidate for New York Mayor. He gained prominence after defeating Andrew Cuomo in the democratic Primary Election.
What are Zohran Mamdani’s political stances?
Zohran Mamdani is known for his criticism of Israeli policies in Gaza. He has stated he would arrest Israeli Prime Minister Benjamin Netanyahu if he visited New York while Mamdani was mayor.
What challenges does donald Trump face in deporting Zohran Mamdani?
To deport Zohran Mamdani, the government would need to present strong evidence in a federal court to support any accusations against him. Also, even if his citizenship is revoked, his green card status provides some protection against automatic deportation.
What is Donald Trump’s opinion of Zohran Mamdani?
Donald Trump has publicly criticized Zohran Mamdani, calling him a ‘Crazy Communist’ and expressing negative opinions about his appearance and intelligence.
What is the significance of Zohran Mamdani potentially becoming mayor?
If elected, Zohran Mamdani would be the first Muslim mayor of Indian descent in New York City’s history.

What are yoru thoughts on the call for Mamdani’s deportation? How do you see this impacting the upcoming mayoral election?

Share your opinions and subscribe for more updates on this developing story!

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Business

Bank of Italy Gold: Return From Fort Knox Planned?

by Priya Shah – Business Editor
written by Priya Shah – Business Editor

Here’s a breakdown of the text, focusing on the key points and arguments:

Main Idea:

The article discusses the growing debate in Germany and Italy about repatriating their gold reserves held in the United States, primarily at the Federal Reserve (Fed). The concern stems from increasing geopolitical uncertainty, distrust in American monetary policy, and the fear that the US could potentially politicize gold reserves for its own purposes.

Key Points:

Significant gold Reserves: Germany and Italy hold considerable gold reserves, ranking second and third globally, respectively, after the United States. A significant portion of these reserves is stored in the US, representing a value exceeding $245 billion.
 Historical Context: Historically, both countries chose to store gold in the US due to the perceived stability and security of the Federal Reserve.
Shifting Concerns: The article highlights a change in outlook driven by several factors:
 Geopolitical Instability: Increased global uncertainty makes countries more cautious about the location of their strategic assets.
Trump’s Criticism of the Fed: Former President trump’s attacks on the Federal Reserve’s independence raised concerns about potential political interference in monetary policy.
 fear of Politicization: There’s a growing fear that the US could use its control over foreign gold reserves as a tool for political or economic pressure.
Political Reactions:
 Germany: The issue of gold repatriation has been discussed for years. In 2013, Germany began repatriating a portion of its gold from New York and Paris. There’s broad political consensus in Germany for further repatriation.
Italy: In 2019, giorgia Meloni (now Prime Minister) called for the immediate repatriation of Italian gold. While she hasn’t emphasized the issue as Prime Minister, the underlying concerns remain.
 Arguments for Repatriation:
National Security: Gold is considered a strategic resource that should be kept secure, especially during times of uncertainty.
 Monetary Sovereignty: Repatriation is seen as an act of economic sovereignty, ensuring that a country has direct control over its assets.
Avoiding Foreign Control: Bringing gold back home prevents a foreign state from potentially using it against the country’s interests. Arguments Against Repatriation:
Logistical and Operational Costs: repatriating gold involves significant expenses.
 Current Italian Government’s Stance: The current Italian government, while historically advocating for repatriation, doesn’t seem to be prioritizing the issue at the moment.

In essence, the article presents a situation where historical trust in the US as a safe haven for gold reserves is being challenged by new geopolitical realities and concerns about American monetary policy. This is leading to renewed calls for Germany and Italy to bring their gold back home.

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