Friday, July 11, 2025

 
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China warns Trump on tariffs, threatens retaliation on supply chain deals

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China warned the Trump administration on Tuesday against reigniting trade tension by restoring tariffs on its goods next month, and threatened to retaliate against nations that strike deals with the United States to cut China out of supply chains.

Washington and Beijing agreed to a trade framework in June that restored a fragile truce, but with many details still unclear, traders and investors on both sides of the Pacific are watching to see if it will unravel or lead to a lasting detente.

On Monday, President Donald Trump began notifying trade partners of sharply higher US tariffs from August 1, after he delayed all but 10% of his April duties on most countries to give them time to strike deals with the world’s largest economy.

President Donald Trump attends a bilateral meeting with China’s President Xi Jinping during the G20 leaders summit in Osaka, Japan, on June 29, 2019. REUTERS

China, initially singled out with tariffs exceeding 100%, has until August 12 to reach an agreement with the White House to keep Trump from reinstating additional import curbs imposed during tit-for-tat tariff exchanges in April and May.

“One conclusion is abundantly clear: dialogue and cooperation are the only correct path,” the official People’s Daily said in a commentary, referring to the exchanges in the current round of China-US trade tension.

The article was signed “Zhong Sheng”, or “Voice of China”, a term the paper uses to express views on foreign policy.

Reiterating Beijing’s view that Trump’s tariffs amount to “bullying”, the paper added, “Practice has proven that only by firmly upholding principled positions can one truly safeguard one’s legitimate rights and interests.”

The remarks set the stage for another round of tariff war should Trump stick to what the ruling Communist Party’s official daily said was “a so-called ‘final deadline.’”

Shipping containers are stacked at a port in Shanghai on June 9, 2025. AFP via Getty Images
An American flag flies in front of shipping containers stacked on a container ship (C) at the Port of Los Angeles on June 25, 2025 in Los Angeles, California. Getty Images

The average US tariff on Chinese exports now stands at 51.1%, while the average Chinese duty on US goods is 32.6%, with both sides covering all their trade, the Peterson Institute for International Economics said.

The paper also took a swipe at regional economies that are considering striking tariff reduction deals with the United States that cut China out of their supply chains.

Last week, Vietnam secured a tariff reduction to 20% from 46% with a deal for goods “transshipped” through it, typically originating from China, to be subjected to a levy of 40%.

“China firmly opposes any side striking a deal that sacrifices Chinese interests in exchange for tariff concessions,” the paper said.

“If such a situation arises, China will not accept it and will respond resolutely to protect its legitimate interests.”



This story originally appeared on NYPost

Kathy Hochul’s highway-robbery bragging puts Willie Sutton to shame

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At least Willie Sutton was being humble when he declared, “I rob banks because that’s where the money is”; Gov. Kathy Hochul is now boasting about her version of the same insight.

That is, the gov’s congratulating herself for raking in big bucks from her “congestion” tolls — hundreds of millions as the scheme hits the six-month mark, on track to hit $500 million by year’s end.

Hochul’s PR blast over the weekend called this a “huge success”; Willie could’ve claimed the same about most of his capers, smirking much as she does in the social-media-campaign part of her “victory tour.”

Sorry: Forcing middle- and working-class New Yorkers to pay an exorbitant amount of their income just to get to work — to drive on roads their taxes already funded — is neither a genius nor a heroic one.

And the bragging only adds insult to the injury.

The tolls help “businesses make deliveries and save costs,” claims Hochul’s office.

Huh? Food distributors  are looking at six-figure added costs, while the likes of FreshDirect are slipping in added fees for congestion-zone customers. Small restaurants are also reeling.

This move remains a cruel money grab wrapped up in a green pseudo-justification, one the gov knows people hate — that’s why she postponed it until after last November’s elections.

We guess she hopes voters will simply have forgotten, or grown resigned to the hit, by the time she faces them in November 2026.

Beware: If she actually wins re-election this way, the plans are already drawn up to move toward doubling the tolls soon after.



This story originally appeared on NYPost

A 3-step passive income strategy to target major wealth


Image source: Getty Images

Investing in the stock market for passive income needs big brains and massive know-how, right? No, I say we can all do it if we follow some straightforward guidelines.

The stock market has beaten other investments for more than a century, and I don’t expect that to change.

Step 1: strategy

Dividend stocks pay passive income, right? Yes, they could be just what we want… once we’ve reached our goal and want to take the income. But until then, our aim is to build as much cash as we can. The bigger the pot the better, no matter how we get there.

An investor who put £10,000 into top US growth stock Nvidia five years ago could be sitting on £155,000 today without any meaningful dividends.

They could then transfer it to a dividend stock like City of London Investment Trust (LSE: CTY) and expect to add £6,800 per year to their income from its 4.4% dividend yield. The dividend, incidentally, has been lifted for 58 years in a row.

Or they could just sell some Nvidia shares each year.

There are two stages to generating passive income. One is building up the pot in the first place. The other is taking the income. They don’t both need the same strategy. We can choose what suits us best.

Step 2: diversification

Investors often make a key mistake when they start. They focus on a small handful of stocks, often in a sector they know. And they can face shocks if they fall.

Diversification is always important. But the pain of a single stock or single sector crash is more likely to put off a new investor. Those of us with more years under our belts should more readily accept the occasional bump.

We could split our cash as many ways as possible, and put each portion into a stock in a different sector. But we should take care not to pay too much in trading costs from too many small buys.

I prefer to start with an investment trust, like City of London that I mentioned above. That puts its shareholders’ cash into HSBC Holdings, BAE Systems, Shell, Tesco… some big names among its top 10 holdings, with wide diversification.

It’s still managed as a single company, so there’s some risk there. And if the 58-year run of dividend rises should falter, I could see a share price fall. But there’s no risk-free stock market investment — and definitely no guaranteed dividends.

Step 3: time

Finally, keep on buying, maintaining diversification within our chosen strategy. Invest as much as we can for as long as we can.

Using City of London as an example, I’ll assume a consistent 4.4% dividend yield, plus 2% per year for share price growth — just guesswork, but I think reasonable.

An ISA allowance each year for 10 years could turn the total £200,000 invested into £315,000 for a 49% gain. Do it for 20 years and £400,000 could more than double to £863,000. Or 30 years could see £600,000 treble to £1.88m. Of course, that’s not guaranteed and returns can fall as well as rise.

We don’t all have that much money to invest. But whatever we have, the multiplication factor will be the same. And look at the difference the extra time makes.



This story originally appeared on Motley Fool

Investors are buying over 25% of U.S. homes sold, the most in over 5 years

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Real estate investors are snapping up a bigger share of U.S. homes on the market as rising prices and stubbornly high borrowing costs freeze out many other would-be homebuyers.

Nearly 27% of all homes sold in the first three months of the year were bought by investors — the highest share in at least five years, according to a report by real estate data provider BatchData.

Between 2020 and 2023, the share of homes bought by investors averaged 18.5%.

All told, investors bought 265,000 homes in the January-March quarter, an increase of 1.2% from the same period a year earlier, the firm said.

Despite the modest annual increase, the rise in the share of investor home purchases is more a reflection of how much the housing market has slowed as traditional buyers face growing affordability constraints, according to BatchData.

The U.S. housing market has been in a sales slump since early 2022, when mortgage rates began to climb from pandemic-era lows. Home sales fell last year to their lowest level in nearly 30 years.

They’ve remained sluggish so far this year, as many prospective homebuyers have been discouraged by elevated mortgage rates and home prices that have kept climbing, though more slowly.

As home sales have slowed, properties are taking longer to sell. That’s led to a sharply higher inventory of homes on the market, benefitting investors and other home shoppers who can afford to bypass current mortgage rates by paying in cash or tapping home equity gains.

“As traditional buyers struggle with affordability, investors with cash and financing advantages are stepping in to maintain transaction volume,” according to the report.

BatchData analyzes U.S. home sales records to determine which properties were purchased by investors. These could include vacation homes or rentals, but not a homebuyer’s primary residence.

Investors bought 1.2 million homes in 2024, up from an average of 1.1 million homes a year going back to 2020, according to BatchData.

Even so, investor-owned homes account for roughly 20% of the nation’s 86 million single-family homes, the firm said.

Of those, mom-and-pop investors, or those who own between 1 and 5 homes, account for 85% of all investor-owned residential properties, while those with between 6 and 10 properties account for another 5%.

Institutional investors that own 1,000 or more homes account for only about 2.2% of all investor-owned homes, the firm said.

And that number could get smaller, amid signs that large institutional investors are scaling back home purchases.

Out of a group of eight of the biggest companies that own and lease single-family houses, including Invitation Homes and American Homes 4 Rent, six sold more homes in the second quarter than they bought, according to data from Parci Labs.



This story originally appeared on Fortune

Plies Sparks Debate With Bold Balmain Cleat Purchase


Instagram/@plies

Plies stirred up a buzz over the very first flex of his footwear-cum-hallmark: white Balmain cleats with a fur trim worthy of a runway or a soccer ground. The Florida glamour boy dropped a video of himself eyeballing the laces, excitement dripping from his eyes, captioning it with his trademark unfiltered flair: “I Gotta Get These Mthfckas!!!! What Y’all Think??? BALMAIN!!!!” But then the internet had its own… thoughts.

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The frontend of the cleats is open, fur roaring from the top in the most outré high-fashion gutsy statement that an athlete ever needed to speed on. In the video, it appeared Plies was genuinely excited about this shoe: He happened to ask the viewers repeatedly, “do you like them off?” while handling the shoe with great enthusiasm. But as for the feedback? Mixed is just not doing it any justice!

One person went straight to the point: “All you got to do is add a designer name and people will buy it.” This commenting stirred a brief debate in the replies, with some agreeing that branding commonly overrides aesthetic concerns (“shyts be ugly asf ion get it”), while others came out strongly defending the freedom of taste. Another user said, “Why can’t u just think he like em fr?” implicating that design is a matter of subjective preference. And this back-and-forth is a good representation of an age-old opinion in luxury: where does personal style stop and label hype take over?

Then, the roasts started. “1k to look like a furry soccer player? I think not,” one follower countered, suggesting that the shoes should be paying the wearer rather than having a price tag. Another likened it to winter football gear, while they had an equally candid one referencing Trespass: “Remind you of when the man had cleats on.” A Miami-based commenter went on to question the functionality of the cleats: “You gonna get water in your knees wearing those in the club,” picturing just how useless those open-backed sharp would be anywhere but the actual field.

There were those who weren’t skeptical. Some of the groupe encouraged Plies to “do a video playing with them on,” while others just respected his un-apologetic taste (“Buy what you like”). The rapper looks pretty happy at the thought of the polarizing effect that these shoes would have. It wouldn’t be the first time that he made such bold fashion statements.

The discussion took a metal turn with one wondering, “I promised I majored in the wrong field. Cause people will buy anything…,” sparking responses about consumer psych and racial dynamics in branding. A biting retort came back: “Long as you use someone of Caucasian descent to be the face they’ll go broke for it,” digging yet deeper into the culture of luxury marketing.

A lux house of edgy designs balanced between street and class is Balmain under Olivier Rousteing’s direction. These cleats probably came out of one of their sportswear collaborative efforts. Hit or miss for everyone, meanwhile, Plies is finally getting some chatter going. And in celeb fashion, that’s already half the battle.

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From the comments, “Fam leave those,” to “Go get water in ya knees with them,” this is not just about the shoes. This is the circus of celebrity clout, branding power, and the endless debate over what counts as good design. Plies seems content letting the madness play out, cackling somewhere in those cleats. One consistent trait about the rapper has been that he has never once betrayed his vibe, fur-lined shoes and all.




This story originally appeared on Celebrityinsider

A profitable penny stock with a well-covered 8% dividend yield! What’s the catch?


Image source: Getty Images

Penny stocks are often tempting because they appear cheap and can offer explosive growth potential. But they come with significant downsides too. Many are unproven, lack consistent earnings, and rarely pay dividends.

On top of that, their tiny market-caps can lead to sharp price swings and thin liquidity.  This can be risky as it makes them more difficult to sell quickly in a downturn. That’s why it’s crucial to do proper due diligence when fishing in these small-cap waters.

I recently came across a penny stock that bucks many of these typical trends. In fact, it looks like it could be a lucrative income opportunity. That company is Alternative Income REIT (LSE: AIRE).

A lesser-known property stock

As the name suggests, Alternative Income REIT invests in commercial property assets, aiming to generate steady rental income for shareholders. Its portfolio’s diversified across sectors including industrial, retail warehousing, leisure and logistics. That gives it a spread of tenants and long leases — an attractive trait for income-focused investors.

Please note that tax treatment depends on the individual circumstances of each client and may be subject to change in future. The content in this article is provided for information purposes only. It is not intended to be, neither does it constitute, any form of tax advice.

Financially, the £60m business seems to be on firm footing. Currently trading at around 75p, the share price is up a modest 49% over the past five years. Revenue’s crept up 4% year on year, but what really caught my eye was the steep 88% diluted earnings growth. This suggests the company has been successfully tightening costs or renegotiating lease deals to improve profitability.

The valuation also looks decent by REIT standards. Its price-to-earnings (P/E) ratio stands at 11.9, which is comfortably below the broader market average. Meanwhile, its price-to-book (P/B) ratio is just 0.92 — indicating the shares are trading at a slight discount to the value of the underlying property assets.

Strong income potential… with risks

It’s the dividend profile that really sets this penny stock apart. Alternative Income REIT currently pays 6p per share, which equates to an impressive 8.15% dividend yield. The payout ratio’s 96.9%, which is high, but that’s typical for REITs — they’re legally obliged to distribute the majority of rental profits to shareholders. 

Importantly, it’s been paying dividends consistently for the past seven years. For a penny stock, that’s a decent track record of delivering cash back to investors.

Of course, there’s always a catch. As a micro-cap, Alternative Income REIT remains vulnerable to market volatility and low trading volumes, which could amplify in any downturn. Being in commercial property, it’s also sensitive to economic slowdowns and changes in tenant demand. And with a small portfolio compared to larger real estate giants, losing a key tenant or facing unexpected vacancies could significantly hurt its rental income.

Even so, for investors seeking exposure to real estate with a chunky yield, this penny stock looks unusually attractive. As said, REITs are generally bound by regulations that ensure profits flow back to shareholders, and Alternative Income REIT appears to be executing well on that front. 

For my part, I wouldn’t bet the house on it — but as part of a diversified income portfolio, it looks like a penny stock worth considering.



This story originally appeared on Motley Fool

‘Hero’ sniffer dog Bruno killed by sausages stuffed with nails | World News

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A “hero” sniffer dog has been killed by sausages filled with nails – with Italy’s prime minister calling it a “vile, cowardly” act.

Bruno died from internal bleeding after the food was deliberately thrown into his kennel in the southern city of Tarananto, according to his trainer.

Arcangelo Caressa said the bloodhound would have had a painful death – and warned the culprit: “I know who you are, and you will pay for it.”

Writing on Facebook, he said his Bruno would “always be my hero”.

“You fought for your whole life to help the human being, and the same human did this to you,” Mr Caressa added.

Bruno had tracked down nine people, including missing children and people with Alzheimer’s, Italian media reported.

Prime Minister Giorgia Meloni posted a picture of herself giving the dog an award, writing: “A heartbreaking piece of news. A vile, cowardly, unacceptable act.

“Thank you for all you have done, Bruno.”

Mr Caressa is a senior figure in the training of anti-drug dogs, as well as fighting against activities like illegal dog fighting.

He told Il Messaggero his beloved pet “wasn’t the real target, it was me”.

He told the paper he had received death threats in recent weeks.

“They want me to step aside. But I will never give in. This is a vile attack, done for money and revenge,” he said.

Bruno’s death has provoked anger and widespread news coverage in Italy since he was found dead on Friday.

Many are calling for the poisoner to be prosecuted under a new animal protection law that recently took effect in Italy.

It carries a prison sentence of up to four years and a £51,000 fine in cases where an animal is killed after prolonged suffering or cruelty.

Read more from Sky News:
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Bruno was originally from Belgium and had worked with Mr Caressa for seven years.

A bloodhound’s sense of smell is estimated to be at least 1,000 times stronger than a human’s, giving them the ability to sniff out a scent over 300 hours old.



This story originally appeared on Skynews

Migrants deported from U.S. to Salvadoran prison remain under U.S. control : NPR

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The exterior of the Terrorist Confinement Center as Homeland Security Secretary Kristi Noem arrives, in Tecoluca, El Salvador, March 26, 2025.

Alex Brandon/AP


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Alex Brandon/AP

WASHINGTON — The government of El Salvador has acknowledged to United Nations investigators that the Trump administration maintains control of the Venezuelan men who were deported from the U.S. to a notorious Salvadoran prison, contradicting public statements by officials in both countries.

The revelation was contained in court filings Monday by lawyers for more than 100 migrants who are seeking to challenge their deportations to El Salvador’s mega-prison known as the Terrorism Confinement Center, or CECOT.

The case is among several challenging President Donald Trump’s immigration crackdown.

“In this context, the jurisdiction and legal responsibility for these persons lie exclusively with the competent foreign authorities,” Salvadoran officials wrote in response to queries from the unit of the U.N. Office of the High Commissioner for Human Rights. The U.N. group has been looking into the fate of the men who were sent to El Salvador from the United States in mid-March, even after a U.S. judge had ordered the planes that were carrying them to be turned around.

The Trump administration has argued that it is powerless to return the men, noting that they are beyond the reach of U.S. courts and no longer have access to due process rights or other U.S. constitutional guarantees.

But lawyers for the migrants said the U.N. report shows otherwise.

“El Salvador has confirmed what we and everyone else understood: it is the United States that controls what happens to the Venezuelans languishing at CECOT. Remarkably the U.S. government didn’t provide this information to us or the court,” American Civil Liberties Union lawyer Lee Gelernt said in an email.

Skye Perryman, CEO and president of Democracy Forward, said the documents show “that the administration has not been honest with the court or the American people.” The ACLU and Democracy Forward are both representing the migrants.

A Justice Department spokesperson declined to comment. White House and Homeland Security Department officials did not immediately respond to requests for comment.

The administration in March agreed to pay $6 million for El Salvador to house 300 migrants. The deal sparked immediate controversy when Trump invoked an 18th century wartime law, the Alien Enemies Act, to quickly remove men it has accused of being members of the Venezuelan gang Tren de Aragua.

In a related case, the administration mistakenly sent Kilmar Abrego Garcia to the same prison, despite a judge’s order prohibiting the Maryland man from being sent to El Salvador.

The administration initially resisted court orders to bring him back to the U.S., saying he was no longer in American custody. Eventually, Abrego Garcia was returned to the U.S., where he now faces criminal charges of human smuggling while legal battles continue.

Last month, a coalition of immigrant rights groups sued to invalidate the prison deal with El Salvador, arguing that the arrangement to move migrant detainees outside the reach of U.S. courts violates the Constitution.



This story originally appeared on NPR

Capgemini to buy WNS to boost its business process services with AI – Computerworld



For Gartner vice president analyst DD Mishra, WNS’s investments in intelligent automation, analytics, and agentic solutions including its TRAC analytics suite and Malkom knowledge management platform will complement Capgemini’s existing technology and consulting strengths.

Sharath Srinivasamurthy, research vice president at IDC, pointed to the acquisitions WNS has itself made in recent months, including Kipi.ai, Smart Cube, and OptiBuy to enhance its data, analytics, and procurement stack and extend its proficiency in business process operations, said.

However, Rajesh Ranjan, managing partner at Everest Group, views the WNS acquisition as more of a strategic play rather than being focused on garnering more agentic tools or capabilities.



This story originally appeared on Computerworld

Who Is Cierra Ortega? 5 Things About the ‘Love Island USA’ Alum – Hollywood Life


Image Credit: Ben Symons/Peacock

Cierra Ortega became the talk of the town once her exit from season 7 of Love Island USA was announced. Fans know by now that her departure wasn’t a normal vote by the islanders, but rather an abrupt removal by the reality dating series. As Cierra grapples with her elimination, Hollywood Life has rounded up five facts about Cierra below.

Cierra Is a Social Media Content Creator

Cierra has established herself as a social media influencer. As seen on her Instagram page, she has shared fashionable videos of herself promoting various fashion brands, traveling around the world and attending various events. Among the most famous fashion brands she has collaborated with was Kim Kardashian‘s SKIMS shapewear company.

Cierra Is of Mexican & Puerto Rican Heritage

As seen in her Instagram bio, Cierra is of Puerto Rican and Mexican heritage. And per NBC, she is a Libra, and she had no qualms about going after what she wanted in Love Island USA.

“I’m the full package: brains, beauty, and boobs. I don’t care whose toes I have to step on,” Cierra’s Love Island USA bio read. “If I can take your man, he was never your man in the first place.”

Cierra Was Born in Arizona & Lives in L.A.

Cierra lives in Los Angeles now, per her Instagram bio, but she’s an Arizona girl at heart.

What Happened to Cierra in 'Love Island USA' Season 7? Find Out
(Photo by: Ben Symons/Peacock)

Cierra Was Coupled Up With Nic on Love Island USA 

Before she was suddenly removed from the show in episode 30, Cierra was coupled up with Nic Vansteenberghe. The pair seemed to be going pretty strong to the point where Nic seemed really upset when Cierra abruptly exited the show.

“Right before Cierra had left, my mind was clear,” Nic explained during the episode after Cierra’s exit was announced. “I knew what the future would look like, and now I’m lost. I think now that my strongest connection is gone, there’s like — just figure it out from here.”

However, Nic chose to couple up with Olandria Carthen.

Cierra Was Removed From Love Island in Season 7 After Racial Slur Resurfaced

Days after fans called for her removal, Love Island USA narrator Iain Stirling announced that Cierra “left the villa due to a personal situation, leaving Nic officially single.”

Neither Peacock nor its parent company, NBCU, immediately addressed Cierra’s departure. However, it became clear that the reason may have been because of a past social media post in which she used an anti-Asian racial slur.




This story originally appeared on Hollywoodlife