Author: Newyorki

Eric Trump and Donald Trump Jr. have launched a new special purpose acquisition company (SPAC), New America Acquisition I Corp, aimed at acquiring a U.S.-based manufacturer that aligns with national economic and security priorities. The move marks the latest in a series of business ventures by the Trump family tied to sectors benefiting from government support and industrial revitalization efforts. According to regulatory filings with the Securities and Exchange Commission (SEC), the SPAC will focus on companies that play a “meaningful role in revitalizing domestic manufacturing, expanding innovation ecosystems, and strengthening critical supply chains.” It will target businesses well-positioned to…

President Donald Trump has announced plans to appoint a new Federal Reserve governor and a new commissioner for the Bureau of Labor Statistics (BLS) in the coming days, following a series of contentious moves that have sparked criticism over the politicization of U.S. economic data and institutions. Trump revealed on Sunday that he intends to name replacements this week after the abrupt dismissal of BLS Commissioner Erika McEntarfer and the resignation of Fed Governor Adriana Kugler, both of which have raised concerns among economists and former officials. Fallout Over BLS Commissioner’s Dismissal In an unprecedented action, Trump fired McEntarfer shortly…

The United States government has announced a new visa policy that will require certain tourist and business visa applicants to post a bond of up to $15,000, as part of efforts to curb visa overstays. The Department of State confirmed the policy on Monday, outlining a year-long pilot programme set to begin on August 20. This initiative targets applicants from countries with high visa overstay rates or inadequate screening and vetting systems, as well as countries offering citizenship-by-investment schemes without residency requirements. The measure reflects a broader tightening of immigration controls under President Donald Trump’s administration, and follows an executive…

The Trump administration is under mounting pressure from both Congress and its own conservative base to release the FBI’s investigative files on Jeffrey Epstein. However, despite repeated calls for transparency, the White House has resisted, opting instead to request the release of grand jury testimony and conduct interviews with known associates such as Ghislaine Maxwell in an attempt to satisfy public demand. Critics, including longtime Trump allies, argue that these efforts fall short. Many believe the files contain explosive information about Epstein’s alleged sex trafficking network and his connections to powerful figures across politics, business, and entertainment. Top Trump officials…

Across rural America, Democratic organizers and progressive advocates are identifying a political shift. A controversial tax and spending law passed by the Republican-led Congress in July has sparked widespread discontent, particularly over cuts to Medicaid, food assistance programs, and rural hospital funding. Democratic strategists see this as a pivotal moment to reengage communities that have long supported former President Donald Trump and the Republican Party. Local Voices Drive New Democratic Strategy Grassroots organizer Dom Holmes, 28, has spent the past decade working in rural Pennsylvania. He emphasizes that true political engagement in these communities requires more than policy leaflets or…

Former Fox News host and longtime prosecutor Jeanine Pirro has been confirmed by the U.S. Senate as the new U.S. Attorney for the District of Columbia, following a 50–45 vote largely along party lines. Her confirmation marks a significant moment in the Trump administration’s push to fill key federal positions, as Pirro becomes the top federal prosecutor in the nation’s largest U.S. Attorney’s Office. The confirmation took place during an unusual weekend Senate session as Republicans accelerated efforts to approve a backlog of President Donald Trump’s nominees. Four senators — Republicans Mitch McConnell (KY), Roger Wicker (MS), Tim Scott (SC),…

Boeing’s recovery efforts face another hurdle as over 3,000 defence-sector employees prepare to go on strike Monday, following a failed contract negotiation. The strike adds to ongoing challenges for the aerospace giant, already grappling with supply chain disruptions, production delays, and reputational issues. Union Members Reject Boeing’s Offer Approximately 3,200 members of the International Association of Machinists and Aerospace Workers (IAM), based in the St. Louis area, voted to reject Boeing’s latest four-year labour contract proposal. The union confirmed that a strike would begin at midnight on Monday. These workers play a key role in assembling Boeing’s F-15 Eagle and…

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…