NPR's top editor Edith Chapin to step down
The news comes a week after the Republican-controlled U.S. House of Representatives passed a $9 billion funding cut to public media and foreign aid.
This includes $1.1 billion for the Corporation for Public Broadcasting (CPB), which distributes funding to news outlets NPR and PBS.
The Trump administration has accused, opens new tab NPR and PBS of bias against conservative viewpoints.
Chapin, who joined NPR in 2012 after 25 years at CNN, will remain head of newsroom operations while NPR searches for a new editorial leadership.
Under her leadership, NPR's news division expanded its investigative reporting and deepened its international and national coverage, the company said.
NPR is a nonprofit media organization that boasts a weekly audience of 43 million across its platforms and has 953,000 weekly app users, according to its website.
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Telegraph
7 minutes ago
- Telegraph
The $6tn bank tweak that risks triggering the next crisis
Bair's big fear is that the money won't end up being funnelled back into boring bonds at all, but end up lining shareholders' pockets or in more exotic investments. She says: 'Banks will likely find a way to distribute some of it to shareholders, or otherwise deploy it into their market operations which are riskier and more vulnerable to crisis conditions than insured banks.' Covid buffer Those who back removing Treasuries from the calculations highlight that it was done during the pandemic without much fanfare as banks ploughed more money into bonds. However, analysts at Morgan Stanley have highlighted that this was in part a function of a 21pc jump in bank deposits as workers had nowhere to spend their cash during lockdowns. It recently noted: 'The Covid-related surge in deposits means that 2020-21 is not comparable with today's environment, as deposit growth is tepid at 1pc year-on-year. Deposit growth, combined with loan demand, are key drivers of bank demand for securities as banks will prefer to use deposits to support client lending activity and build client relationships.' Bair says capital buffers were put there for a reason. 'If there should be a future crisis, regulators have the authority to provide emergency temporary relief. 'Reduce capital requirements now, they don't know how banks may deploy it. Better to maintain strong requirements in good times so capital cushions will be there when bad times hit.' Regulators are also keeping a close eye on this side of the Atlantic amid concerns we are moving towards a world where sovereign risk is completely removed from the leverage ratio. While the UK has already taken steps to remove central bank reserves from its calculations, officials here believe removing government bonds would be a step too far. Rogoff, now a Harvard professor, agrees that capital buffers have served their purpose during times of crisis. 'It is notable how well the banking system held up during the pandemic, and later from the sharp rise in global interest rates. It is precisely when the system hits peak stress moments – especially when the economy is hit by completely out of the box shocks – that the SLR suddenly does not seem quite so crazy,' he says. The rules tweaks may look benign, but bond sell-offs are often quick and violent. And it's usually the taxpayer left picking up the pieces.
Daily Mail
37 minutes ago
- Daily Mail
White House in 'full-bore panic mode' over Epstein files and FBI 'breaking at the seams'
President Trump is reportedly furious over the botched handling of the Jeffrey Epstein files as The White House launches into 'full-bore panic mode' in a desperate attempt to change the subject. The Justice Department and FBI have come under fire as they scramble to end the ongoing fallout after Attorney General Pam Bondi's so-called 'communications failure' snowballed into a crisis. Trump is now fuming about the inconsistent Epstein narratives emerging from Washington D.C. as the saga continues to dominate headlines. 'This is a pretty substantial distraction,' a White House source told The Washington Post, citing 'nearly a dozen people close to the situation.' 'While many are trying to keep the unity, in many ways, the DOJ and the FBI are breaking at the seams. Many are wondering how sustainable this is going to be for all the parties involved - be it the FBI director or attorney general.' Any attempts by Bondi and FBI Director Kash Patel to tamp down the rampant speculation about Epstein have only fueled more conspiracy theories and negative attention. 'They completely miscalculated the fever pitch to which they built this up,' Stephen A. Saltzburg, a former Justice Department official told the Post. 'Now, they seem to be in full-bore panic mode, trying to change the subject and flailing in an effort to make sense of what makes no sense.' But Trump is refusing to make the one move that could silence his critics and reset the narrative. 'He does not want to create a bigger spectacle by firing anyone,' the source told the Post. So Bondi, Patel and FBI deputy director Dan Bongino continue their fruitless campaign to end the speculation around the death of one of the most infamous billionaire of the 21st century. The release of security footage from outside Epstein's jail cell from the night he took his own life - an attempt to stop conspiracy theories that he was murdered - was Patel and Bongino's idea, multiple sources revealed. However, the video missing three minutes of footage from that night made things worse. Both are now privately upset that they haven't been able to release more of the Epstein files with Bongino on the verge of quitting as all three play the blame game with one another. Bongino's frustration came to a head in a stunning post to X over the weekend, revealing he has discovered matters that have 'shocked me down to my core' during his time in office. He shared a cryptic message to his social media in which he vowed to uncover 'the truth' amid mounting criticism of his handling of the Epstein files. Bongino added: 'We cannot run a Republic like this. I'll never be the same after learning what I've learned. A source inside the DOJ told Daily Mail that Bongino was ready to stand down if Attorney General Pam Bondi didn't. Todd Blanche, the president's former attorney and now Bondi's second in command at the DOJ, denied any beef between his department and the FBI in a statement. 'The suggestion by anyone that there was any daylight between the FBI and DOJ leadership on this memo's composition and release is patently false,' he said. The fallout of that memo continues, with the Wall Street Journal reporting that Bondi told Trump in May that his name appeared in the Epstein files. Trump on Friday denied ever being briefed by Attorney General Pam Bondi that his name was in the files. 'No, I was never briefed. No,' he told reporters after he landed in Scotland to visit his golf courses. But Bondi briefed Trump during a May 2025 meeting that his name was found in the Epstein documents 'multiple times,' according to reports. Other high-profile individuals are also named in the investigation about Epstein's sex crimes. Just because the president is named in the files does not implicate him in any wrongdoing or connect him to Epstein's child sex trafficking crimes. Patel and Dan Bongino (pictured) are now privately upset that they haven't been able to release more of the Epstein files with Bongino on the verge of quitting as all three play the blame game with one another Todd Blanche (pictured), the president's former attorney and now Bondi's second in command at the DOJ, denied any beef between his department and the FBI The Wall Street Journal originally broke the news of Bondi's briefing to Trump. The Justice Department told the news outlet that Trump was made aware of the findings of the Epstein files as part of the 'routine briefing.' Bondi also allegedly acknowledged that the administration should withhold the files due to them containing images of child sexual abuse Blanche reportedly said that nothing was found in the files that would mandate an additional investigation - or even prosecution. 'As part of our routine briefing, we made the president aware of the findings,' they told the Journal. White House communications director Steven Cheung slammed the report as 'fake news' in a statement to the Daily Mail. 'The fact is that the president kicked him out of his club for being a creep. This is nothing more than a continuation of the fake news stories concocted by the Democrats and the liberal media, just like the Obama Russiagate scandal, which President Trump was right about,' he said when the report came out earlier this week. But, try as he might, Trump cannot move on from questions about Epstein, who died in a New York prison in 2019 while awaiting charges related to sex crimes. His death, ruled to be a suicide, sparked endless conspiracy theories that questioned how he may have really died and who among the rich and powerful would have benefitted from it. The president associated with Epstein and British socialite Maxwell in the 1980s and 1990s. Epstein's right-hand woman and former lover Ghislaine Maxwell was questioned this week by Deputy Attorney General Blanche. She is serving 20 years behind bars for his involvement in Epstein's crimes. The 63-year-old made it clear earlier this month that she was willing to speak in front of Congress about the case. Maxwell appears to be angling for a pardon from the president after she 'didn't hold back' during secret questioning session. Her attorney David Oscar Markus claimed that she spoke with Deputy Attorney General Todd Blanche about '100 different people' related to Epstein's child sex trafficking ring. 'They asked about every possible thing you could imagine – everything,' Markus told reporters. He also said Maxwell is being used as the 'scapegoat' in the entire Epstein case and has been 'treated unfairly for the last five years.' Her attorney said that they had not put in a formal request with the White House for a pardon for Maxwell following the conclusion of Day 2 of questioning. But Markus didn't rule out taking that action in the future, saying 'things are happening so quickly.' 'The president said earlier he has the power to do so, we hope he exercises that power in the right way,' he said of a potential commutation. Trump refused to rule out invoking his presidential pardon powers for Maxwell when asked on Friday morning. 'I'm allowed to do it, but it's something I haven't thought about,' he said. But, asked again about the matter later Friday, Trump, meanwhile, declined to talk about Maxwell and said 'this is no time to be talking about pardons.' 'I really have nothing to say about it. She is being talked to by a very smart man, a very good man, Todd Blanche. And I don't know anything about the conversation. I haven't really been following it,' he said. 'A lot of people are asking me about pardons. This is no time to be talking about pardons,' he added. Meanwhile, over the course of two days, Maxwell and her attorney have spent more than nine hours answering Blanche's questions. It's not clear when or if the DOJ will release what was learned in the meetings. Markus said Maxwell is grateful to have had the chance to sit-down with Blanche. 'This was the first opportunity she's ever been given to answer questions about what happened,' Markus said. 'The truth will come out about what happened with Mr. Epstein and she's the person whose answering those questions.' A growing fringe effort to get Trump to pardon Maxwell has unfolded after the Justice Department rejected her effort to have her conviction on child sex trafficking charges thrown out. Maxwell is serving a 20-year prison sentence for her role in conspiring with Epstein to sexually abuse minors. She was convicted in 2021 on five counts related to sex trafficking and conspiracy. It's unclear what she can reveal that isn't already public and the closed-door meeting is fueling skepticism over the handling of the Epstein files review. Maxwell is also on the books to testify before Congress from prison on August 11.
Reuters
37 minutes ago
- Reuters
Trump pauses export controls to bolster China trade deal, FT says
July 28 (Reuters) - The U.S. has paused curbs on tech exports to China to avoid disrupting trade talks with Beijing and support President Donald Trump's efforts to secure a meeting with President Xi Jinping this year, the Financial Times said on Monday. The industry and security bureau of the Commerce Department, which oversees export controls, has been told in recent months to avoid tough moves on China, the newspaper said, citing current and former officials. Reuters could not immediately verify the report. The White House and the department did not respond to Reuters' requests for comment outside business hours. Top U.S. and Chinese economic officials are set to resume talks in Stockholm on Monday to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies. Tech giant Nvidia (NVDA.O), opens new tab said this month it would resume sales of its H20 graphics processing units (GPU) to China, reversing an export curb the Trump administration imposed in April to keep advanced AI chips out of Chinese hands over national security concerns. The planned resumption was part of U.S. negotiations on rare earths and magnets, Commerce Secretary Howard Lutnick has said. The paper said 20 security experts and former officials, including former deputy US national security adviser Matt Pottinger, will write on Monday to Lutnick to voice concern, however. "This move represents a strategic misstep that endangers the United States' economic and military edge in artificial intelligence," they write in the letter, it added.
