Author: Newyorki

A growing divide is emerging within the U.S. economy, with America’s largest technology and financial firms reporting robust earnings while consumer-oriented businesses face rising costs and shrinking margins—largely due to the impact of President Donald Trump’s tariffs. Boom for Big Tech and Banks Second-quarter earnings have been especially strong for major tech giants like Apple, Meta, and Microsoft, as well as leading financial institutions such as JPMorgan and Goldman Sachs. Collectively, the top ten companies on the S&P 500 now account for roughly one-third of the index’s total profits. The technology sector saw year-on-year earnings growth of 41%, while financials…

America’s lowest-paid workers are experiencing the sharpest decline in wage growth, even as the broader economy shows signs of resilience. New data underscores a widening income gap that poses political and economic challenges for the Trump administration, particularly amid concerns over data transparency and economic inequality. Wage Growth for Lowest Earners Drops Sharply According to the Federal Reserve Bank of Atlanta, wage growth for the bottom 25% of earners—those making less than $806 per week—fell to 3.7% year-on-year in June, a steep decline from the 7.5% peak in late 2022. That surge came during a post-pandemic labor shortage, particularly in…

President Donald Trump has intensified his campaign against key U.S. economic institutions, firing the head of the Bureau of Labor Statistics (BLS) just hours after the release of a weaker-than-expected jobs report for July. In a move that stunned economists and market observers, Trump dismissed BLS Commissioner Erika McEntarfer, a Biden-era appointee, accusing her—without providing evidence—of manipulating employment data to damage his administration’s image. “She will be replaced with someone much more competent and qualified,” Trump said. “Important numbers like this must be fair and accurate. They can’t be manipulated for political purposes.” Resignation at the Fed Deepens Uncertainty The…

A record number of shareholder proposals were excluded from corporate ballots during this year’s proxy season, following a significant regulatory shift by the U.S. Securities and Exchange Commission (SEC). The move has curtailed shareholder efforts to push for corporate changes on climate, diversity, and labor rights. Sharp Rise in Proposal Omissions In 2025, the SEC approved 195 “no-action” requests—formal appeals by companies to exclude shareholder proposals from proxy materials—marking a 33% increase from the 147 exclusions in 2024, and the highest level since data collection began in 2007 by ISS-Corporate. As a result, major companies like Amazon and Constellation Brands…

President Donald Trump has commented publicly for the first time on the potential pardon of music mogul Sean “Diddy” Combs, weeks after Combs was acquitted of the most serious charges in a high-profile federal sex-crimes trial. In an interview aired on August 1 with Newsmax host Rob Finnerty, Trump was asked directly whether he would consider pardoning Combs. Although he did not provide a definitive answer, Trump noted that Combs’ past criticism of him could complicate such a decision. “He was essentially, I guess, sort of, half-innocent,” Trump said, referring to the trial outcome. “I don’t know what they do,…

The Smithsonian’s National Museum of American History has confirmed that a placard referencing both of former President Donald Trump’s impeachments was removed from its presidential exhibit due to presentation concerns, not political pressure or outside influence. In a statement posted to X (formerly Twitter) on August 2, the museum explained that the placard — originally added in September 2021 — was a temporary addition to “The American Presidency: A Glorious Burden,” a long-standing exhibit that opened in 2000. The sign was removed in July 2025. “The placard, which was meant to be a temporary addition to a 25-year-old exhibition, did…

Former President Donald Trump’s latest round of tariffs—presented as efforts to correct global trade imbalances—have increasingly taken on a distinctly political character. While the administration justifies these measures under the guise of national security or unfair trade practices, many of the newly imposed tariffs reflect strategic and ideological grievances rather than economic reasoning. Canada: A Surprising Target Canada, one of the US’s closest allies, saw its headline tariff rate spike to 35%. While goods covered by the USMCA trade agreement remain largely protected, the broader message was pointed. The Trump administration cited a supposed failure by Canada to curb fentanyl…

Donald Trump’s political fundraising arm, MAGA Inc, has raised nearly $200 million in the first half of 2025, significantly fueled by major contributions from the cryptocurrency sector. This financial windfall positions Trump’s camp with a commanding advantage ahead of the 2026 U.S. congressional elections. A Super PAC with Super Funds According to recent filings with the Federal Election Commission (FEC), MAGA Inc reported $177 million in donations and $196 million in cash on hand as of mid-2025. By comparison, Future Forward, the Democratic-aligned Super PAC instrumental in Joe Biden’s 2024 campaign, disclosed a cash reserve of just $2,826. Super PACs…

The U.S. dollar experienced a sharp reversal on Friday following disappointing labor market data, ending what had otherwise been its strongest week since Donald Trump’s election victory in November 2024. Despite a 1.5% weekly gain against a basket of major currencies—its largest since the election—the dollar index dropped 1.3% in a single day, reacting to new employment figures that signaled a notable slowdown in job growth. The Bureau of Labor Statistics reported significantly weaker-than-expected job creation, coupled with sharp downward revisions for May and June. The news raised fresh concerns about the U.S. economy’s trajectory and pushed traders to reprice…

President Donald Trump has triggered a new chapter in global trade tensions by imposing broad-based tariffs on dozens of U.S. trading partners while finalizing selective deals with allies like the UK, EU, and Japan. The move, formalized through an executive order on Thursday, marks a significant shift in U.S. trade policy and underscores the administration’s commitment to reshaping the global economic landscape. Targeted Tariffs on Key U.S. Trade Partners Under the new regime: Canada will face a steep 35% tariff, despite being a long-standing U.S. ally and major trading partner. India is subject to a 25% tariff. Switzerland faces a…