Nikole Hannah-Jones: Trump is ‘eradicating the enforcement mechanisms for our civil rights'
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Associated Press
5 minutes ago
- Associated Press
Melania Trump demands Hunter Biden retract 'extremely salacious' Epstein comments
WASHINGTON (AP) — First lady Melania Trump demanded that Hunter Biden retract comments linking her to sex trafficker Jeffrey Epstein and threatened to sue if he does not. Trump takes issue with two comments Biden, son of former President Joe Biden, made in an interview this month with British journalist Andrew Callaghan. He alleged that Epstein introduced the first lady to now-President Donald Trump. The statements are false, defamatory and 'extremely salacious,' Melania Trump's lawyer, Alejandro Brito, wrote in a letter to Biden. Biden's remarks were widely disseminated on social media and reported by media outlets around the world, causing the first lady 'to suffer overwhelming financial and reputational harm,' he wrote. Biden made the Epstein comments during a sprawling interview in which he lashed out at 'elites' and others in the Democratic Party he says undermined his father before he dropped out of last year's presidential campaign. 'Epstein introduced Melania to Trump. The connections are, like, so wide and deep,' Biden said in one of the comments Trump disputes. Biden attributed the claim to author Michael Wolff, whom Trump disparaged in June as a 'Third Rate Reporter.' He has accused Wolff of making up stories to sell books. The first lady's threats echo a favored strategy of her husband, who has aggressively used litigation to go after critics. Public figures like the Trumps face a high bar to succeed in a defamation lawsuit. The president and first lady have long said they were introduced by Paolo Zampolli, a modeling agent, at a New York Fashion Week party in 1998. The letter is dated Aug. 6 and was first reported Wednesday by Fox News Digital. Abbe Lowell, a lawyer who has represented Biden in his criminal cases and to whom Brito's letter is addressed, did not immediately respond to a request for comment late Wednesday. ___
CNBC
7 minutes ago
- CNBC
CNBC Daily Open: Despite cooler-than-expected CPI, economists agree higher prices are coming
Don't mess with DJ D-Sol — Goldman Sachs CEO David Solomon's stage name when he's rocking the clubs in his other life as a DJ. U.S. President Donald Trump criticized Goldman on Tuesday for predicting that tariffs would push up inflation, and said Solomon "should go out and get himself a new Economist or, maybe, he ought to just focus on being a DJ." In response, Goldman defended the results of its study, according to a CNBC interview with the bank's economist David Mericle. "If the most recent tariffs, like the April tariff, follow the same pattern that we've seen with those earliest February tariffs, then eventually, by the fall, we estimate that consumers would bear about two-thirds of the cost," Mericle said. Goldman, in fact, is not the only Wall Street bank putting forth this view. UBS senior economist Brian Rose wrote that "the downward trend in core inflation has been broken as tariffs start to feed through into retail prices," while Michael Feroli, chief U.S. economist at JPMorgan Chase, said in a note that tariffs could "add 1-1.5% to inflation, some of which has already occurred." Of course, a consensus view does not mean predictions will come true. Recall how economists were all but certain a U.S. recession would happen in 2023 — only for the economy to grow 2.5% that year. In any case, if Goldman — and economists from other banks —is proven wrong on tariff-driven inflation, and Trump, in a hypothetical scenario, manages to somehow push Solomon out of his position, at least DJ D-Sol will still be out there spinning is considering 11 candidates for Fed chair. Among the list of potential nominees are Federal Reserve officials, a Bush administration economic advisor, Jefferies Chief Market Strategist David Zervos and BlackRock's Rick Rieder. Economists agree that higher tariff inflation is coming. Despite Trump on Tuesday slamming Goldman Sachs for predicting higher consumer prices, the bank is standing by its research. Other Wall Street economists agree with its call. New records for U.S. stocks again. The S&P 500 and Nasdaq Composite climbed Tuesday to close at fresh highs, with the Dow Jones Industrial Average also rising. Shares of Paramount Skydance popped 36.7%. The Stoxx Europe 600 added 0.54%. xAI's co-founder Igor Babuschkin leaves. Babuschkin said he's starting a venture firm to support AI safety research and invest in startups. Musk wrote, in response, "Thanks for helping build @xAI! We wouldn't be here without you." [PRO] This software stock could jump 50%, Morgan Stanley says. The firm's shares tumbled Monday because of lackluster third-quarter guidance — but that move created "the entry point for which we've been waiting," a Morgan Stanley analyst wrote. How Big Tech is paying its way out of Trump's tariffs Top tech executives are at the forefront of a recent swathe of unprecedented deals with U.S. President Donald Trump. In particular, Nvidia and Advanced Micro Devices, as well as Apple, have struck agreements with the White House. "The flurry of deal-making is an effort to secure lighter treatment from tariffs," Paolo Pescatore, technology analyst at PP Foresight, told CNBC by email. Big tech companies can "ill afford to fork out on millions of dollars in additional fees that will further dent profits as underlined by recent quarterly earnings," Pescatore said.
Wall Street Journal
7 minutes ago
- Wall Street Journal
Blue States Hunt for Ways to Wring More Taxes From the Wealthy
A growing number of blue cities and states across the country, from Washington state to Rhode Island, are looking at ways to wring more revenue from their richest taxpayers. Lawmakers are boosting tax rates on robust annual incomes, hiking capital-gains taxes, and putting new levies on luxury vacation homes.
