Wall St opens steady as investors prepare for August 1 deadline
The Dow Jones Industrial Average (.DJI), opens new tab rose 63.4 points, or 0.14%, at the open to 44757.28. The S&P 500 (.SPX), opens new tab rose 6.7 points, or 0.10%, at the open to 6370.01, while the Nasdaq Composite (.IXIC), opens new tab rose 2.0 points, or 0.01%, to 21059.941 at the opening bell.
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The Independent
18 minutes ago
- The Independent
ICE entices new recruits with patriotism pitch and promise of $50,000 signing bonuses
The agency responsible for carrying out President Donald Trump 's mass deportations is launching a recruiting campaign to entice 'brave and heroic Americans' to serve as new deportation officers, lawyers and investigators as the government gears up for a major expansion of immigration enforcement thanks to a recent infusion of money from Congress. The U.S. Immigration and Customs Enforcement campaign, which rolled out late Tuesday, recalls recruiting posters from World War II with images of Uncle Sam and the words 'AMERICA NEEDS YOU.' There also are photos of Trump and top homeland security officials with the words 'DEFEND THE HOMELAND' across the images. 'Your country is calling you to serve at ICE,' said Homeland Security Secretary Kristi Noem in a news release. 'This is a defining moment in our nation's history. Your skills, your experience, and your courage have never been more essential. Together, we must defend the homeland.' In addition to appealing to prospective applicants' patriotic fervor, Homeland Security is making a pocketbook pitch. The agency is promising up to $50,000 in signing bonuses, the potential for lots of overtime for deportation officers and other benefits such as loan repayment or forgiveness options. Lots of money is coming to ICE All of this is made possible by a big infusion of money to ICE. The package of tax breaks and spending cuts that Trump signed into law this month includes about $170 billion for border security and immigration enforcement, spread out over five years. ICE is set to get $76.5 billion, nearly 10 times its current annual budget. Some $45 billion will go toward increasing detention capacity. Nearly $30 billion is for hiring 10,000 more staff so the agency can meet its goal of 1 million annual deportations. New hires include deportation officers responsible for tracking down, arresting and removing people who the administration determines no longer have the right to remain in the United States. Under the Republican president, those officers are high-profile roles, making arrests at immigration courts, in the streets and at businesses. They often are criticized by immigration activists and Democratic lawmakers for wearing masks while carrying out their duties. On the recruitment webpage, the link to learn more about applying to be a deportation officer shows a photo of an armored vehicle rolling down a street with officers in military gear hanging onto the sides of the vehicle. The government is also seeking criminal investigators and lawyers who will prosecute immigration cases. The agency said it will advertise at college campuses, job fairs and law enforcement networks, starting this week. But the recruiting drive has raised concerns about what happens if the agency grows too fast. Staffing is a long-standing challenge ICE staffing has long been an issue, said Jason Houser, a former agency chief of staff during the Biden administration. At the beginning of the Trump administration there were roughly 6,000 officers within ICE tasked with monitoring noncitizens in the country, then finding and removing those not eligible to stay. Those staffing numbers remained largely static over the years even as the caseload ballooned. During the Biden administration, when the number of people arriving at the U.S.-Mexico border skyrocketed, ICE workers were often pulled from their regular duties to go to the border. 'ICE does need more employees to handle the volume of what they're handling,' Houser said. But he is concerned about whether the rush to increase staffing could mean lower standards for recruits and training. The Border Patrol's rapid expansion during the early 2000s serves as a cautionary tale. To meet hiring goals, hiring and training standards were changed. Arrests for employee misconduct rose. 'If they start waiving requirements there like they did for Border Patrol, you're going have an exponential increase in officers that are shown the door after three years because there's some issue," he said. At the same time, Houser noted the Department of Homeland Security has dismantled some of the key agencies that have provided some level of oversight over ICE and other DHS arms. Houser estimated it would take three years to four years to actually hire and train that number of new ICE staffers. In the meantime, he worries that ICE will rely on private contractors, National Guard troops and other federal law enforcement officers to meet the administration's goal of 3,000 arrests a day.
Reuters
19 minutes ago
- Reuters
RRA Capital Closes Record $224.3 Million Fundraise
PHOENIX, AZ, July 30, 2025 (EZ Newswire) -- RRA Capital, opens new tab, a Pheonix-based private real estate debt investment manager, today announced the final close of RRA Real Estate Debt Fund III at $224.3 million — the largest fundraise in the firm's history. With the close complete, Fund III is approaching the midpoint of its five-year term, with approximately one year of investment activity remaining before entering the two-year harvesting phase. The fund continues RRA's strategy of originating short-term bridge loans for value-add and transitional commercial real estate assets across the U.S. 'This is an exciting milestone for our team and our investors,' said Marc Grayson, opens new tab, co-founder and president of RRA Capital. 'The success of Fund III reflects growing demand for flexible capital solutions in today's market and reinforces our position as a leading participant for middle-market bridge financing.' Fund III attracted commitments from a diverse group of institutional investors — including pension funds, insurance companies, and university endowments — and is expected to deploy over $800 million of capital over the course of its five-year term. 'The closing of Fund III demonstrates optimism that values have bottomed out,' said Boots Dunlap, opens new tab, CEO and co-founder of RRA Capital. 'It is expected to provide liquidity options for borrowers unable to qualify for DSCR-based refinances in today's higher-rate environment, as well as flexible acquisition financing for buyers targeting distressed sellers.' RRA Capital has originated over $2 billion in commercial real estate loans, opens new tab since inception, with a focus on multifamily, industrial, retail, hospitality, healthcare, and select office assets. The firm is headquartered in Phoenix and lends nationwide. About RRA Capital RRA Capital is a leading commercial real estate debt fund manager specializing in structured bridge financing for transitional properties nationwide. Since its founding in 2008, RRA has originated over $2 billion in loans, providing flexible capital solutions to value-add and opportunistic real estate investors. The firm focuses on complex, time-sensitive transactions and offers customized structures that support property repositioning, lease-up strategies, and recapitalizations. With a disciplined investment approach and a proven track record through market cycles, RRA is a trusted partner to borrowers and institutional investors seeking performance, transparency, and alignment. Learn more at opens new tab. Legal Disclaimer This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities. Offers are made only to verified accredited investors pursuant to Rule 506(c) of Regulation D under the Securities Act of 1933 and are subject to final offering documentation. Media Contact Hallie Whitehwhite@ ### SOURCE: RRA Capital Copyright 2025 EZ Newswire See release on EZ Newswire
Reuters
19 minutes ago
- Reuters
Trump says he thinks US will have a 'very fair deal' on trade with China
WASHINGTON, July 30 (Reuters) - U.S. President Donald Trump said on Wednesday that talks were moving along with China and he expected the two sides would reach a fair deal on trade. "We're moving along with China. We're doing fine with China," Trump told reporters at the White House. "I think it's going to work out very well. We're right in step. I think we're going to have a very fair deal with China." U.S. and Chinese officials met in Stockholm on Monday for more than five hours of talks aimed at resolving economic disputes with a goal of extending their truce on a trade war by three months. China is facing an August 12 deadline to reach a durable tariff agreement with Trump's administration, after Beijing and Washington reached preliminary deals in May and June to end escalating tit-for-tat tariffs and a cut-off of rare earth minerals. Trump's administration has agreed trade deals with the European Union, Britain and Japan. It is negotiating with multiple other countries to achieve more.
