A new tax on university endowments, signed into law by President Trump, will significantly increase financial burdens on the wealthiest U.S. colleges, including Harvard and Yale, by imposing rates up to 8% based on asset size per student. This could lead to staff layoffs, hiring freezes, and reduced financial aid for lower-income students as institutions adjust to increased tax liabilities amidst declining federal funding.
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President Donald Trump is set for a tentative summit with Russian leader Vladimir Putin, potentially granting Moscow a diplomatic victory amid the ongoing Ukraine conflict. Meanwhile, redistricting battles intensify as Texas Republicans push for new congressional maps, prompting Democrats to consider countermeasures in states like Illinois, California, and New York. Want More Context? 🔎
Read moreSome economists warn that President Trump's recent tariffs, which raised the average tariff rate to 18%, may lead the U.S. towards stagflation, characterized by high inflation and low GDP growth. Although current economic growth remains strong, inflation is expected to rise, and potential job market impacts from higher import costs could further complicate the economic landscape. Want More Context? 🔎
Read moreSens. Marsha Blackburn and Richard Blumenthal urged Meta CEO Mark Zuckerberg to discontinue Instagram's new Map feature due to user privacy concerns, particularly regarding children's safety. While Meta claims location sharing is opt-in, users reported automatic sharing without consent, prompting the senators to stress the need for better protections for minors online. Want More Context? 🔎
Read moreU.S. Attorney General Pam Bondi has appointed Ed Martin, former interim U.S. attorney for D.C., as a special attorney to investigate New York Attorney General Letitia James and Sen. Adam Schiff over mortgage fraud allegations. Both have denied wrongdoing amid ongoing probes into James’ office and Schiff’s response to accusations from Trump. Want More Context? 🔎
Read moreThe Boar's Head deli meat plant, linked to a listeria outbreak that resulted in 10 deaths, is set to reopen after recent inspections revealed lingering sanitation issues at multiple facilities. Despite claims of compliance and safety enhancements, inspections documented similar violations, raising concerns about the company's commitment to food safety and effective federal oversight. Want More Context? 🔎
Read moreThe Perseids meteor shower will peak on August 12-13, 2025, but visibility will be hindered by an 84% full moon, reducing visible meteors to 10-20 per hour instead of the typical 50. Observers are advised to wait until a week after the peak for better viewing conditions, as the meteors are remnants of comet 109P/Swift-Tuttle. Want More Context? 🔎
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