Author: Newyorki

Commerce Department has begun issuing licences to Nvidia to export its H20 artificial intelligence chips to China, ending weeks of delays and marking a reversal in policy after direct intervention from President Donald Trump. The move follows a meeting at the White House between Nvidia’s chief executive, Jensen Huang, and the president. According to officials familiar with the matter, the Bureau of Industry and Security, which oversees export controls, began processing the licences just two days after the Oval Office discussion. The H20 chip was specifically designed for the Chinese market in response to earlier Biden-era restrictions on advanced AI…

President Donald Trump has signed an executive order that could reshape the investment landscape for U.S. retirement savings, granting 401k plans access to private equity, cryptocurrencies, and other alternative assets for the first time on a broad scale. The move potentially affects the financial future of more than 90 million Americans, unlocking new opportunities for diversification while also exposing savers to greater risks. The decision follows extensive lobbying from major private capital and asset management firms, including Apollo Global Management, BlackRock, Carlyle, and Blackstone. These firms have long sought access to the $9 trillion held in 401k accounts, viewing retirement…

President Donald Trump has ordered a significant increase in the presence of federal law enforcement officers across Washington, D.C., in a move aimed at addressing what he described as persistent crime issues in the nation’s capital. The deployment will initially last seven days, with the possibility of an extension, according to a White House statement. The order follows a recent assault on Edward Coristine, a 19-year-old staff member of the Department of Government Efficiency (DOGE), who was attacked during an attempted carjacking. Trump referenced the incident on social media, calling Coristine “brave” and tying the attack to broader concerns about…

President Donald Trump has removed Internal Revenue Service (IRS) Commissioner Billy Long from his post, ending the former Missouri congressman’s tenure just two months after he was officially confirmed for the role. A White House official confirmed the decision to USA TODAY, stating that Long will step down immediately and that Treasury Secretary Scott Bessent will assume the duties of acting commissioner until a permanent replacement is nominated and confirmed. While the dismissal may appear abrupt, the official indicated it was part of a broader personnel strategy. Long is expected to be nominated as the next U.S. ambassador to Iceland,…

President Donald Trump announced on August 7 his intention to initiate a new U.S. census, citing the need to reflect “modern-day facts and figures” and to exclude undocumented immigrants from being counted. The announcement, made via his social media platform, immediately raised legal, constitutional, and political concerns—especially as the nation approaches the pivotal 2026 midterm elections. Trump’s proposal follows Republican-led efforts in Texas to redraw congressional maps mid-decade, a move traditionally reserved for once-a-decade adjustments after the decennial census. The redistricting aims to secure up to five additional GOP seats, a strategy prompting Democrats in other states to consider retaliatory…

A federal appeals court has reversed a lower court’s ruling that found probable cause to hold officials from the Trump administration in contempt over their handling of the deportation of Venezuelan migrants under the rarely-used 1798 Alien Enemies Act. The U.S. Court of Appeals for the D.C. Circuit, in a 2-1 decision, sided with the administration, rejecting U.S. District Judge James Boasberg’s April finding that officials could face criminal contempt for allegedly disobeying his March 15 order. That order barred the deportation of alleged Venezuelan gang members without allowing them the opportunity to contest their removal. Judge Gregory Katsas, writing…

Former U.S. President Donald Trump has announced plans to nominate economist Stephen Miran to temporarily fill a vacant seat on the Federal Reserve Board of Governors. If confirmed by the Senate, Miran will step into the position left by Adriana Kugler, who recently departed the Fed months before her term’s official end in January 2026. Miran, a senior economic adviser and close Trump ally, is known for his support of the former president’s economic policies — especially his controversial stance on tariffs. He has consistently argued that tariffs are not inherently inflationary, diverging from the views of Federal Reserve Chair…

The Trump administration is moving forward with efforts to privatize U.S. mortgage giants Fannie Mae and Freddie Mac, with plans for a potential public offering later this year. The move aims to shift the federally backed housing finance agencies out of government conservatorship after more than 15 years under state control. Sources familiar with the discussions revealed that the administration is considering raising approximately $30 billion through an initial public offering (IPO), with a combined valuation of the two entities estimated around $500 billion. However, senior officials noted that the plan remains fluid and subject to change in the coming…

The US investment-grade corporate bond market has recorded its largest weekly inflows in nearly five years, signaling investor confidence despite signs of an economic slowdown. According to data from EPFR, exchange-traded funds (ETFs) and mutual funds focusing on highly rated US corporate debt attracted approximately $11.6 billion in inflows between July 30 and August 6. This marks the fifth-highest weekly inflow on record and the most significant since late 2020, per JPMorgan analysts. The surge in demand comes amid mixed signals from the US economy. Recent reports show a cooling in both growth and hiring, and Donald Trump’s new round…

The White House has announced plans to issue an executive order clarifying the U.S. government’s position on tariffs affecting gold bars, following a regulatory decision that has unsettled the global bullion market and sparked confusion among traders. The clarification comes in response to a recent ruling by U.S. Customs and Border Protection (CBP), which stated that one-kilo and 100-ounce gold bars—two of the most commonly traded formats—should be classified under a customs code that makes them subject to import tariffs. This contradicts a previous April 2025 White House statement that explicitly exempted gold bullion from tariffs imposed under President Donald…