American financier and philanthropist
An appellate court in Brooklyn has stayed a Staten Island judge's temporary restraining order and briefly allowed New York City's new pied‑à‑terre surcharge rollout to resume while the city seeks an appeal. The lawsuit challenges the administration's notification and list release; the city has argued the pause would derail time‑sensitive implementation.
New York City officials have issued cease-and-desist orders to 42 online retailers selling high-speed e-bikes and scooters, while lawmakers push for broader oversight. The mayor has stopped short of requiring vehicle registration, citing safety concerns, as inspections continue ahead of an Aug. 18 deadline. A council hearing will review enforcement and possible new legislation.
A travel feature on Yerevan, Armenia, exploring Republic Square, the Dancing Fountains show, and the city’s heritage from Tamanian’s design to recent tourism growth linked to direct flights from London.
An AI-focused hedge fund called Situational Awareness has reportedly lost about 67% in a month and sold most of its public portfolio to Ken Griffin’s Citadel. The fund’s debt-fuelled, highly leveraged bets on chipmakers and AI firms has forced the sale and has prompted Wall Street to reassess concentrated AI exposures.
Jane Street says it has reduced risk exposure in AI-related trades after a July downturn that hit AI-heavy holdings, with the firm aiming to be more selective about risk in its portfolios.
Ken Griffin has pledged $3 billion to Carnegie Mellon University, including $2 billion to build a 35‑acre Wynwood campus in Miami and $1 billion for priorities at CMU’s Pittsburgh campus. Construction on the Miami site is slated for 2027, with student enrollments planned to begin in 2028; the computer science school will be renamed for Griffin.
A Gulfstream G-100 medical transport jet flying from Bermuda to Boston has gone missing, leaving six people on board. Debris has been found off Nantucket and the search has been suspended as authorities and Latitude Air Ambulance confirm the six are presumed dead. Investigations will determine the cause.
Wall Street broker-dealers have posted first-half profits of $45.9 billion in 2026, up 51.3% from a year earlier, putting annual profits on track to exceed $90 billion. Underwriting and dealmaking drive the surge amid AI investments and a volatile market, with SpaceX’s IPO and equity issuance fueling activity. Regulators warn of risks from inflation, rates, and geopolitical tensions.