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In a significant financial downturn, the world's 500 richest individuals collectively lost $208 billion in wealth following US President Donald Trump's announcement of reciprocal tariffs. Notably impacted was Mark Zuckerberg, whose fortune plummeted by $17.9 billion, a nine percent drop. This decline marks the fourth-largest single-day fall in the Bloomberg Billionaires Index's history and the most substantial since the onset of the Covid-19 pandemic. Jeff Bezos also faced a $15.9 billion loss due to a nine percent drop in Amazon shares, while Elon Musk saw $11 billion vanish as Tesla shares fell 5.5 percent. Other notable billionaires affected included Michael Dell, Larry Ellison, and Bernard Arnault, whose LVMH conglomerate lost $6 billion amid fears of a new 20 percent EU tariff on US-bound exports. Trump's tariffs particularly targeted nations perceived as adversarial, imposing a staggering 54 percent on Chinese goods. 
Published: Apr 04 2025, 3 pmeznews.inA helicopter crash occurred in the Hudson River near lower Manhattan on Thursday afternoon, according to the New York City Police Department. Reports from ABC News indicate that there have been fatalities, although the Federal Aviation Administration has yet to comment on the incident. The NYPD advised the public to expect emergency vehicles and traffic delays in the vicinity of the crash site, located near the West Side Highway and Spring Street. As authorities respond to the situation, further details are expected to emerge regarding the cause of the crash and the number of casualties involved.
Published: Apr 11 2025, 2 ameznews.inIn Canada, President Donald Trump's recent threats to annex the country and impose punitive tariffs have transformed him into a comic book supervillain, prompting a resurgence of Captain Canuck, a Canadian superhero created in the 1970s. Captain Canuck, a Mountie with superhuman strength, symbolizes Canadian independence and sovereignty amid growing resentment towards American leadership. Richard Comely, the character's co-creator, noted that Canadians are rallying around Captain Canuck as a symbol of national pride in response to Trump's rhetoric, which has sparked widespread protests and a call for a decisive government mandate to counter his actions. With Trump depicted as a classic comic book antagonist, the character's renewed popularity has led to increased interest from Canadian companies and a surge in comic book sales, illustrating how political tensions have revitalized a cultural icon.
Published: Apr 11 2025, 2 ameznews.inA federal judge in Boston has halted the Trump administration's attempt to revoke the temporary legal status of hundreds of thousands of migrants from Cuba, Haiti, Nicaragua, and Venezuela. U.S. District Judge Indira Talwani ruled that the Department of Homeland Security's decision to terminate a two-year "parole" program, initially established under former President Joe Biden, stemmed from a misinterpretation of the law. This ruling underscores ongoing legal battles surrounding immigration policy in the United States and provides temporary relief for those affected by the potential loss of their legal status. The decision highlights the complexities and challenges faced by the current administration in navigating immigration issues and the legal frameworks that govern them.
Published: Apr 11 2025, 2 ameznews.inIn a notable diplomatic move, the United States and Russia conducted a prisoner swap on Thursday, exchanging ballet dancer Ksenia Karelina for Arthur Petrov, a sanctions-busting suspect. Karelina, a US-Russian dual national, was convicted in Russia of treason for a $50 donation to a pro-Ukraine charity, while Petrov faced charges in the US for illegally exporting electronics to Russian military suppliers. The exchange occurred at an Abu Dhabi airport, with CIA Director John Ratcliffe acting as the key negotiator. President Trump, who has been seeking to mend US-Russia relations since his term began, expressed hope for a broader peace deal regarding Ukraine. The State Department emphasized ongoing efforts to secure the release of other Americans detained in Russia, including English teacher Stephen Hubbard, as both nations also discussed restoring embassy staffing and banking access amid ongoing tensions.
Published: Apr 11 2025, 2 ameznews.inUK auditors Ernst & Young (EY) have been fined £4.9 million for serious breaches in their audits of the now-defunct travel firm Thomas Cook, according to the Financial Reporting Council. Partner Richard Wilson, responsible for the 2017 and 2018 audits, received a £105,000 penalty. Thomas Cook, which struggled with intense online competition and Brexit-related booking declines, declared bankruptcy in September 2019 after failing to secure £250 million from investors. The collapse resulted in 22,000 job losses and the UK government's largest repatriation effort since World War II, affecting around 150,000 Britons. The watchdog criticized both audits for failing to assure that the financial statements were free from significant misstatements, particularly highlighting serious deficiencies in the 2018 audit. EY expressed regret over the audits falling short of their standards. Thomas Cook was later acquired by Chinese conglomerate Fosun and subsequently resold to the Polish group eSky.
Published: Apr 11 2025, 1 ameznews.inHamas has welcomed French President Emmanuel Macron's announcement that France may recognize a Palestinian state by June, viewing it as a significant advancement for Palestinian rights. Hamas official Mahmud Mardawi described the potential recognition as a "positive shift" in international attitudes towards Palestinian aspirations for freedom and independence, with Jerusalem as its capital. Macron, during a recent interview, emphasized the need for recognition, indicating that the move could occur at a UN conference in New York. Palestinian officials echoed Mardawi's sentiments, asserting that France's recognition would support the two-state solution and safeguard Palestinian rights. However, Israeli Foreign Minister Gideon Saar criticized Macron's plan, labeling it as a "prize for terror" that would hinder peace efforts in the region. Currently, nearly 150 countries recognize a Palestinian state, with recent acknowledgments stemming from international outrage over civilian casualties during the ongoing conflict in Gaza.
Published: Apr 10 2025, 10 pmeznews.inWall Street experienced a significant decline on Thursday as concerns about the economic impact of President Donald Trump's trade war resurfaced, overshadowing a brief rally following his announcement to pause new tariffs. A larger-than-expected drop in US consumer inflation for March heightened fears that the uncertainty surrounding tariff policies is affecting the economy. This led to a sell-off of the dollar, amid worries that rising inflation could compel the Federal Reserve to increase interest rates, potentially stifling growth. Oil prices fell due to fears of reduced demand, while safe-haven assets like gold surged to a record high. Although Asian and European markets initially rallied, Wall Street's downturn dampened enthusiasm. Analysts warned of a volatile tariff narrative, with ongoing tensions between the US and China suggesting a continued economic decoupling. Meanwhile, US Treasury yields fell slightly after a successful bond auction, alleviating some market anxieties.
Published: Apr 10 2025, 11 pmeznews.inUS President Donald Trump acknowledged the potential "transition cost" associated with his tariff policies amid escalating tensions in the ongoing trade war with China. Speaking on Thursday, Trump emphasized that while the current situation may present challenges, he believes the long-term outcome will be beneficial for the American economy. "There will be a transition cost, and transition problems, but in the end, it's going to be a beautiful thing," he stated, reiterating his commitment to reshaping global manufacturing by encouraging companies to establish operations within the United States. Trump's remarks come as Wall Street experienced another decline, reflecting investor concerns over the implications of his trade strategies. The President's comments underscore his administration's focus on economic nationalism and the pursuit of domestic manufacturing growth, despite the immediate financial repercussions.
Published: Apr 10 2025, 11 pmeznews.inAustralia has rejected China's proposal to form a united front against the United States' tariffs, as tensions escalate in the ongoing trade war initiated by the Trump administration. Chinese Ambassador Xiao Qian urged for a cooperative stance against US "hegemonic" practices, but Australian Prime Minister Anthony Albanese affirmed that the nation will prioritize its own interests and will not align with China. Defence Minister Richard Marles reiterated this sentiment, stating Australia will focus on diversifying its trade relationships rather than partnering with China. Although Australia has expressed frustration over the tariffs—10% on its goods and up to 125% on Chinese products—it has chosen not to retaliate, instead seeking further negotiations with Washington. The Australian government is exploring alternative markets, aiming to reduce reliance on China and enhance economic resilience by strengthening trade ties with countries like Indonesia, India, the UK, and the UAE.
Published: Apr 10 2025, 11 pmeznews.inWall Street experienced a dramatic downturn on Thursday, reversing gains from the previous day’s significant rally, as concerns over a potential US trade war and looming recession intensified. By late afternoon, the S&P 500 had plummeted nearly six percent, while the Dow Jones Industrial Average fell over five percent, and the Nasdaq Composite dropped around seven percent. This sharp decline was accompanied by a surge in the CBOE Volatility Index, which measures market risk, rising more than 40 percent. The volatility reflects growing anxiety among investors, highlighting the precarious state of the markets amid ongoing economic uncertainties. The reversal followed a brief period of optimism, underscoring the fragility of current market conditions as traders grapple with the implications of escalating trade tensions.
Published: Apr 10 2025, 11 pm
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