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New York City has started a new tax on expensive second homes, called a pied-à-terre tax, that began on July 1. The tax applies to high-value properties that are not the owner's main home, with bills due starting in 2027. Property owners who think they qualify for an exemption can apply by late August.
Key Facts
The pied-à-terre tax targets luxury homes in New York City valued over $5 million for houses and over $1 million for condos and co-ops that are not the owner’s main residence.
The tax rates vary, from 0.8% to 1.3% for houses and from 4% to 6.5% for condos and co-ops, depending on property value.
Notices were sent to potential taxpayers recently, with deadlines in August to apply for exemptions.
The city estimates the tax will raise about $500 million each year from around 13,000 properties to help fund housing programs.
Some officials predict lower revenue, between $340 million and $380 million annually.
The tax has caused debate, with supporters wanting wealthy second-home owners to help the city, and critics worried it might reduce investment or cause wealthy people to leave.
The city published a list of properties that might owe the tax, leading to privacy and accuracy concerns.
Being on the list does not guarantee a tax bill, as owners can prove their home is their main residence to avoid the surcharge.
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Dr. Deborah Birx, who helped lead the U.S. response to COVID-19, spoke about her experiences working with Dr. Anthony Fauci during the pandemic. She shared her views on Fauci’s diaries, his decisions during the pandemic, and the ongoing discussion about where COVID-19 began.
Key Facts
Dr. Deborah Birx was the White House Coronavirus Response Coordinator.
She worked closely with Dr. Anthony Fauci during the COVID-19 pandemic.
Birx appeared on the CBS News show "The Takeout" to discuss her experiences.
She commented on the contents of Fauci’s diaries.
Birx talked about Fauci’s actions during the pandemic.
The discussion included debates about the origins of COVID-19.
Birx expressed a need for better ways to handle disagreements about the pandemic response.
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Hadi Matar was found guilty of federal terrorism charges for stabbing author Salman Rushdie in 2022. Matar, motivated by a religious death order against Rushdie, faces a potential life sentence on top of a 25-year state prison term.
Key Facts
Hadi Matar was convicted of federal terrorism charges related to the 2022 stabbing of Salman Rushdie.
Rushdie was attacked during a public event and suffered serious injuries, including loss of sight in his right eye.
Matar is already serving a 25-year state sentence for attempted murder connected to the same attack.
The stabbing was linked to a fatwa (religious death order) issued by Iran’s Ayatollah Khomeini in 1989 against Rushdie.
Rushdie’s book "The Satanic Verses" sparked protests and violence because some Muslims found it offensive to Islam.
Matar communicated online about his intentions and support for the fatwa before the attack.
Matar has U.S. and Lebanese citizenship; Hezbollah, a group designated as terrorist by the U.S., is based in Lebanon.
Prosecutors said Matar wanted to kill Rushdie to honor the fatwa and show his allegiance to Hezbollah.
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Fifa plans to create a new company to manage part of the World Cup. It will sell 20% of this company to private investors, with the shares worth more than $4 billion. One possible buyer is Thrive Eternal, an investment firm linked to Jared Kushner’s brother.
Key Facts
Fifa will form a new subsidiary to run part of the World Cup.
They will sell a 20% ownership stake in this subsidiary.
The stake is valued at over $4 billion.
Talks are ongoing with potential buyers for these shares.
Thrive Eternal, an investment firm connected to Jared Kushner’s brother, is a likely buyer.
The move marks one of the first times Fifa is seeking private investment in the World Cup.
This plan aims to raise money by selling shares in the World Cup management.
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Senator Rand Paul said there is a real possibility that Dr. Anthony Fauci could face legal prosecution after a Senate hearing. During the hearing about the COVID-19 pandemic, Dr. Fauci repeatedly used his right to remain silent by invoking the Fifth Amendment, which upset Republican lawmakers.
Key Facts
Dr. Anthony Fauci testified in a Senate hearing about the COVID-19 pandemic.
Fauci repeatedly invoked the Fifth Amendment, which means he chose not to answer some questions to avoid self-incrimination.
Senator Rand Paul of Kentucky led the hearing.
Senator Paul said there is a "very real chance" Fauci could be prosecuted.
Republican lawmakers were angered by Fauci’s refusal to answer certain questions.
The hearing was described as contentious or intense.
The discussion focused on events related to the COVID-19 pandemic.
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Oil prices rose on Wednesday due to increasing tensions between the United States and Iran. Brent crude oil traded around $91 per barrel, up from about $83 earlier in the week, but still below recent highs near $101.
Key Facts
Oil prices increased on Wednesday amid rising U.S.-Iran tensions.
Brent crude, a key global oil benchmark, was about $91 per barrel late Wednesday.
Prices earlier this week dropped to around $83 per barrel.
Recent oil prices reached highs near $101 per barrel before a ceasefire.
The price changes reflect concerns about supply risks linked to the political situation.
The U.S. and Iran have a history of conflict affecting global oil markets.
Oil prices can be influenced by international political events.
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A man named Hadi Matar was found guilty of federal terrorism charges for stabbing author Salman Rushdie in 2022. Matar’s attack was linked to a long-standing religious edict calling for Rushdie’s death over his book “The Satanic Verses.”
Key Facts
Hadi Matar was convicted of terrorism charges related to attacking Salman Rushdie in 2022.
Matar is already serving 25 years in prison for attempted murder from the same attack.
The stabbing happened at an event where Rushdie was about to speak about writers’ safety.
Rushdie was stabbed 15 times and lost sight in his right eye.
The attack was motivated by an edict (fatwa) issued by Iran’s late Supreme Leader Ayatollah Khomeini in 1989.
Matar supported Hezbollah, a group the U.S. calls a terrorist organization, and wanted to carry out the fatwa.
The fatwa against Rushdie has never been officially canceled, and a bounty has been offered for his death.
Salman Rushdie has faced threats and attacks worldwide because of his book “The Satanic Verses,” which some people consider offensive to Islam.
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The stock market dropped significantly after the Federal Reserve decided not to raise interest rates, even though inflation remains high. The Dow Jones fell over 1,100 points, marking its biggest drop since April 2025.
Key Facts
The Federal Reserve kept interest rates unchanged.
Inflation is still a concern despite the Fed's decision.
The Dow Jones Industrial Average fell by 1,153.18 points (2.19%).
This was the Dow's largest one-day drop since April 2025.
In April 2025, President Trump introduced new tariffs called “Liberation Day” tariffs.
The S&P 500 index also dropped by 1.52%.
The stock decline shows investor worry about the economy and inflation.
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The Trump administration is starting a program called TSA Gold+ that lets some U.S. airports hire private companies to handle security checks instead of using federal TSA workers. Tampa, Charleston, and Des Moines airports are the first to try this program, which could change how passengers go through security.
Key Facts
TSA Gold+ is a new program by the Trump administration to privatize some airport security screenings.
Private companies will run security checks at certain airports instead of TSA employees.
Tampa, Charleston, and Des Moines international airports are the first to join this program.
Privatization of airport security is common in Europe, with over 80% of airports using private screening.
The program aims to shift some security responsibilities away from the federal government.
This approach is intended to be tested at selected airports before wider use.
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A recent survey by the Federal Reserve Bank of New York shows more Americans are applying for higher credit card limits and fewer are being denied. Lenders appear more willing to offer credit, which may help consumers but also signals some financial stress.
Key Facts
Credit card limit increase requests and other credit applications are at their highest since October 2021.
The overall rejection rate for credit applications is 16.1%, down from 23.1% a year ago.
Consumers feel they have a better chance of credit approval now than earlier this year.
More people want higher credit limits to provide financial flexibility or prepare for unexpected expenses.
Around 34% of people expect to need $2,000 unexpectedly within a month, with many unsure they could cover it.
Some experts warn that higher credit limits can lead to carrying more debt and paying more interest.
Lenders may be more open to lending because the job market is stable and people feel slightly more confident about handling emergencies.
Despite improved access, increased borrowing could indicate underlying financial pressures on households.
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Prime Minister Andy Burnham is focusing on renewing the UK’s Trident nuclear submarine program as part of plans to revive industry and create jobs. The new phase of the program will bring billions in contracts, support thousands of jobs, and emphasize apprenticeships, while reaffirming the UK’s commitment to NATO defense spending targets.
Key Facts
Andy Burnham will highlight the renewal of the Trident nuclear submarine program during a visit to Barrow-in-Furness.
The Dreadnought-class submarines program is worth £31 billion and is being built in Barrow, England.
A new £8.4 billion contract phase aims to support 18,000 extra jobs by 2030 and 22,000 apprentices by 2035.
The UK currently supports 47,000 jobs in military nuclear activities, including 13,500 in Barrow’s shipyard.
Burnham supports continuing Trident, unlike some others in the Labour Party who have opposed it.
The government aims to increase defense spending to 3.5% of GDP by 2035 as part of NATO commitments.
Burnham has not committed to reaching 3% of GDP spending on defense by 2030, focusing instead on the 2035 target.
The new Dreadnought submarines will replace older Vanguard-class boats, which carry Britain’s nuclear deterrent with 40 warheads each.
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A Myanmar court sentenced nine activists to long prison terms, up to 37 years, for protesting against military-led elections. The activists urged people to boycott the December 2025 elections and reject forced military service after the military took control of the government in 2021.
Key Facts
Nine activists received prison sentences for protesting the military-run elections.
Eight activists, including Htet Myat Aung, were sentenced to 37 years each.
One activist was sentenced to 27 years under counterterrorism laws.
The protest took place on December 3, 2025, in Mandalay, Myanmar’s second-largest city.
Protesters called for an election boycott, rejection of forced military service, and release of political prisoners.
Myanmar’s military backed a new law in 2025 that punishes actions against the election, including protests, with severe penalties.
The December 2025 election was criticized for being unfair and excluding major opposition groups.
The military government has not publicly responded to the sentencing decisions.
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Meta's shares dropped by 11% after the company reported higher revenue but lower profits for the quarter. Meta plans to increase its spending on artificial intelligence (AI) projects to up to $145 billion this year, aiming to boost its business and start selling AI tools to other companies.
Key Facts
Meta’s revenue grew by 28% from the previous year in the April to June quarter.
Meta’s profits fell by 14% during the same period.
The company will spend between $130 billion and $145 billion on AI projects in 2024, up from $125 billion planned three months ago.
CEO Mark Zuckerberg said AI is improving core parts of Meta’s businesses like Instagram and Facebook.
Meta plans to create AI chatbots called "agents" that can work autonomously and be available 24/7.
Meta aims to sell its AI models and software tools, starting with making its Muse Spark AI model easier for other companies to use.
Zuckerberg highlighted a large business opportunity from selling AI services, including software interfaces known as APIs.
Meta is focusing on building AI tools for both internal use and external sales to other businesses.
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The article shares recent updates in popular culture. It highlights a new trailer for the movie "Jumanji," BTS’s decision related to the Grammy Awards, and some wedding-related news.
Key Facts
A new trailer for the movie "Jumanji" has been released.
BTS made a choice concerning their participation or awards at the Grammys.
There is notable news or drama involving weddings.
The updates were presented by ABC News' Rocsi Diaz.
The article focuses on entertainment and pop culture topics.
No political or global news is the main subject here.
The information is aimed at fans of movies, music, and celebrity news.
The coverage is brief and highlights a few key entertainment stories.
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Meta's second-quarter earnings were weaker than expected, causing its stock to fall nearly 8%. CEO Mark Zuckerberg promoted the benefits of artificial intelligence (AI), but this optimism did not prevent investor concerns about the company's high spending on AI and legal costs.
Key Facts
Meta reported earnings per share of $6.18, below the expected $7.14.
Revenue was $60.8 billion, slightly above predictions of $60.23 billion.
The company increased its expected yearly expenses to between $165 billion and $169 billion.
Meta’s legal charges for the second quarter were $2.4 billion.
Capital spending for 2026 is expected to be $130 billion to $145 billion, focusing heavily on AI.
Meta’s stock price has dropped about 10% over the past year due to concerns about AI investment.
Zuckerberg described a vision where everyone has access to personalized AI assistants.
Meta faces challenges including privacy concerns, youth safety issues, and employee data use.
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Starbucks reported higher-than-expected sales and profits for its latest quarter and increased its forecast for the full year. The company’s sales grew strongly in both the U.S. and global markets, and it made operational changes to improve customer experience.
Key Facts
Starbucks’ global same-store sales rose 7.9% in the third fiscal quarter, beating the expected 5.7% increase.
U.S. same-store sales also grew 7.9% in the April-June period.
The company raised its full-year global same-store sales growth forecast from 5% to 6%.
Starbucks now expects earnings per share of $2.55 to $2.65, up from the previous $2.25 to $2.45.
Quarterly revenue was $9.3 billion, slightly lower than before but still above analysts’ forecast.
Net income increased by 87% to $1 billion in the quarter.
Starbucks improved service by adding staff during busy times and using technology to handle orders more efficiently.
The company redesigned stores to create a more comfortable, coffeehouse atmosphere.
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Microsoft reported $90 billion in revenue for the April-June quarter, beating Wall Street expectations. The company saw strong growth in its cloud services and paid AI users, with its cloud platform Azure showing a 43% increase in revenue.
Key Facts
Microsoft earned $90 billion in revenue during the April-June quarter, up 18% from last year.
The earnings per share were $4.81, higher than the expected $4.24.
Microsoft Cloud revenue reached $59.3 billion, a 27% increase compared to last year.
Azure and other cloud services revenue increased by 43%.
For the full fiscal year ending in June, Microsoft’s revenue was $331.8 billion.
Azure revenue surpassed $100 billion for the first time this year.
Microsoft 365 Copilot, the AI assistant, now has over 30 million paid users.
Microsoft’s shares rose about 3% after the earnings report was released.
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The conflict between the United States and Iran has intensified as Saudi Arabia joined the U.S. in military strikes against Iran-backed groups. Diplomacy between the two sides has stalled, with no new talks planned, while military actions continue and risks of wider regional war grow.
Key Facts
Saudi Arabia publicly joined the U.S. in airstrikes targeting Iranian-backed militias in Iraq.
Iran fired ballistic missiles at a U.S. base in Jordan; these missiles were reportedly intercepted.
President Donald Trump stated the U.S. will respond strongly to Iranian actions but also mentioned the possibility of future talks.
Diplomatic efforts to end the conflict have failed, with Iran’s deputy foreign minister confirming no recent requests to restart negotiations.
The conflict has led to more U.S. military casualties and concerns about reduced U.S. air defense resources.
Drone attacks targeted Saudi Arabia and caused fires on natural gas vessels in Egypt, involving multiple regional countries.
The fighting and tension occur months before critical U.S. midterm elections and affect the global economy.
The situation includes nearly every country in the Middle East, with complex alliances and hostilities involved.
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Fifteen elephants died recently in southern Kenya, likely due to eating tomatoes contaminated with cyanide. Authorities found cyanide in preliminary tests but have not identified who is responsible for poisoning the tomatoes near Amboseli National Park.
Key Facts
Fifteen elephants died in southern Kenya over the past month.
Cyanide was detected in tomatoes that the elephants ate.
The tomatoes came from farms near Amboseli National Park.
Farmers have been suspected before of poisoning elephants to protect crops.
The area includes both wildlife and local livestock like goats and cattle.
Authorities warn the poisoning might affect livestock too.
The poison does not pose an immediate risk to human health.
This is the largest number of elephant deaths in the region in decades.
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The Federal Trade Commission (FTC) filed a lawsuit against the telehealth company Hims & Hers, accusing it of sharing customers' health information with social media companies like Meta and Snap without permission. Hims & Hers denies the claims and says it will defend itself in court.
Key Facts
The FTC sued Hims & Hers in a federal court in Northern California.
The lawsuit says Hims & Hers shared private health data despite promising to keep it confidential.
The company reportedly used tracking tools from Meta and shared customer lists with advertisers.
Hims & Hers offers virtual doctor services and prescription drugs for wellness and other issues.
The company’s stock price dropped nearly 15% after the lawsuit was announced.
Hims & Hers claims customers know how their data is used and that health info is only for care purposes.
The FTC also accused the company of not clearly telling customers about prescription charges and making it hard to cancel subscriptions.
The FTC said customers were unknowingly signed up for recurring payments and had their sensitive health data shared without consent.
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