july

Trump threatens ‘much higher’ EU tariffs if deal not signed by July 4

May 8 (UPI) — President Donald Trump threatened to raise tariffs to “much higher levels” on the European Union if it doesn’t agree to a trade deal by July 4.

“I had a great call with The President of the European Commission, Ursula von der Leyen. We discussed many topics, including that we are completely united that Iran can never have a Nuclear Weapon. We agreed that a regime that kills its own people cannot control a bomb that can kill millions. I’ve been waiting patiently for the EU to fulfill their side of the Historic Trade Deal we agreed in Turnberry, Scotland, the largest Trade Deal, ever! A promise was made that the EU would deliver their side of the Deal and, as per Agreement, cut their Tariffs to ZERO! I agreed to give her until our Country’s 250th Birthday or, unfortunately, their Tariffs would immediately jump to much higher levels,” the president said Thursday afternoon on Truth Social.

The threat came after The EU has struggled to agree on the terms of the Turnberry Accord, which was for the United States to lower tariffs on EU products and for the EU to remove tariffs on U.S. industrial goods and invest billions in U.S. industries, including energy.

Von Der Leyen said on X that the bloc is still committed to the deal.

“I had a very good call with @POTUS. We discussed the situation in the Middle East and our close coordination with regional partners. We are united that Iran must never possess a nuclear weapon. Recent events have clearly shown that the risks to regional stability and global security are too great.

“We also discussed the EU-U.S. trade deal. We remain fully committed, on both sides, to its implementation. Good progress is being made towards tariff reduction by early July.”

Last week, Trump threatened to raise tariffs on European autos to 25%. It’s unclear if his renewed threat is specifically for vehicles or if it encompasses all EU exports.

Complicating matters is that Trump’s current method of levying tariffs was blocked Thursday by the U.S. Court of International Trade.

In February, the U.S. Supreme Court struck down the administration’s tariffs issued under the International Emergency Economic Powers Act of 1977. Trump then added a 10% across-the-board tariff and then later upped it to 15%.

U.S. Trade Representative Jamieson Greer said in an interview with Politico Thursday that the EU is moving slowly.

“With the tariffs, they’ve at least started a process. They’re working it through,” Greer said. “It’s a pain. I understand it’s slow. We’re not patient. But there are other things where they haven’t even started a process.”

“We’re 95% compliant for nine months … and they’ve been 0% compliant during that time. What am I supposed to do?” he said.

Speaker of the House Mike Johnson, R-La.,, speaks during an observance celebrating the 75th National Day of Prayer in Statuary Hall at the U.S. Capitol on Thursday. Photo by Bonnie Cash/UPI | License Photo

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Last gambling resort in Primm, Nev., is set to close by July

Primm Valley Resorts, the last full-time casino among a cluster of three off Interstate 15 in Primm, at the California-Nevada border, is permanently closing, according to a termination notice sent to employees on Tuesday.

The letter, posted by Las Vegas insider publication Las Vegas Locally, noted that employees who worked at Primm Valley would be let go by July 4. It’s not known if the casino will close that day or before.

An email to Primm Valley Resorts owner Affinity Gaming was not immediately returned.

Primm Valley was the last of three operating casino resorts in Primm, formerly known as State Line. The castle-shaped Whiskey Pete’s opened in 1977, followed by Primm Valley in 1990 and Buffalo Bill’s in 1994.

In a letter to the Clark County Board of Commissioners, Erin Barnett, Affinity’s vice president and general counsel, wrote in October 2024 that “traffic at the state line has proved to be heavily weighted towards weekend activity and is insufficient to support three full-time casino properties.”

Along with Primm Valley Resorts, Primadonna Co. LLC, owned by Affinity Gaming, is closing the Primm Center gas station and the Flying J truck stop located at Whiskey Pete’s; that casino closed in December 2024.

The termination notice comes nearly a year after Affinity Gaming ended 24/7 operations at Buffalo Bill’s Resort on July 6. The casino opened on days in which its concert venue, the Star of the Desert Arena, hosted special events.

Lights glow on the Buffalo Bill's Resort and Casino sign on July 6, 2025, in Primm, Nev.

Lights glow on the Buffalo Bill’s Resort and Casino sign on July 6, 2025, in Primm, Nev.

(Bridget Bennett / For The Times)

It’s unclear what happens to music and magic acts booked until July 25.

It’s not known how long other Affinity-owned properties in the area, such as the popular Lotto Store on the California side of the border, will continue to operate. Nevadans have been known to drive for several miles and wait in long lines to buy Powerball tickets, particularly when jackpots creep into 10 figures.

The notice informed employees “this action is expected to result in the permanent termination of employment for all employees at these locations.”

As late as September, Primm Valley Resorts emailed media members promoting renovated rooms and signature experiences at its final resort.

Primm once shined as one of Nevada’s more popular gambling resorts. The three-casino complex served as a less expensive, less flashy, slightly more kitschy alternative to Las Vegas that benefited from being a good 45 minutes closer to Los Angeles than Sin City.

Several factors have contributed to Primm’s slow decline, including the COVID pandemic and increased competition from casinos popping up on tribal lands in California.

Those newer casinos are easier to get to than Primm from key Southern California population centers, reducing the value proposition.

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DTCC Launching Tokenization for $114T Asset Market This July

Just-in-time account funding may be right around the corner as tokenization provides real-time capabilities.

Banks, broker-dealers, and clearing agencies could soon reduce capital buffers as Depository Trust & Clearing Corporation (DTCC) moves closer to operationalizing tokenization through its subsidiary, Depository Trust Company (DTC).

The DTC—which provides book-entry custody for more than $114 trillion in assets, such as municipal bonds, corporate bonds, corporate stocks, and money market instruments from the U.S. and more than 131 other countries and territories—expects to launch a limited first phase of its tokenization service in July. The full service is scheduled to roll out in October.

In December 2025, the U.S. Securities and Exchange Commission (SEC) granted the industry utility permission for a three-year pilot to process highly liquid assets, including components of the Russell 1000 Index, exchange-traded funds that track other major U.S. indices, and various Treasuries. The intent is to give tokenized securities the same entitlements, protections, and ownership rights as assets currently held in DTC custody.

“Our vision is coming to fruition,” said Frank La Salla, president and CEO of DTCC, in Monday’s announcement. “Tokenization has the potential to reshape market structure by improving liquidity, transparency and efficiency.”

Standards Aligned

Tokenization—which creates a digital representation of a tangible asset like real estate or municipal bonds—is no longer just a finance-sector buzzword. More companies are weaving tokens into their corporate finance strategies, using them in a wide array of instruments, including smart contracts, stablecoins and tokenized U.S. Treasury bills.

The DTCC developed the tokenization platform in collaboration with the DTCC Industry Working Group, which includes more than 50 custodians, asset managers, broker-dealers, and market infrastructure providers across traditional and decentralized finance. The group is focused on aligning standards and preparing market participants for new operational and settlement workflows.

Despite the infrastructure milestone, the near-term implications for corporate treasurers may be limited.

“I don’t see a material benefit yet for CFOs,” said David Easthope, senior analyst and head of fintech research at Coalition Greenwich. “The more immediate value proposition is coming from stablecoins, not tokenized securities.” He added that the benefits for issuers, and their representatives like CFOs and treasurers, “are much further out in the tech cycle that we are in.”

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Karol G announces stadium world tour, with a stop at SoFi

Karol G is taking her 2025 album, “Tropicoqueta,” worldwide.

After wrapping two bombastic headlining sets at Coachella this year, the Colombian superstar announced a stadium world tour on Instagram Tuesday morning.

The “Viajando Por El Mundo Tropitour” will kick off July 24 at Chicago’s Soldier Field. The “Provenza” artist will then head out to Las Vegas on Aug. 7 before making a stop at SoFi Stadium in Inglewood on Aug. 14. She’ll grace California with one more performance on Aug. 21 at Levi’s Stadium in Santa Clara.

The 35-year-old singer will wrap up the U.S. leg of her tour with a performance in Dallas on Oct. 15 before commencing the international section of the tour in Monterrey, Mexico, on Nov. 6. This string of shows is scheduled to finish exactly a year after commencing, with a July 24, 2027, set in Milan, Italy.

Karol G was the first Latina to headline Coachella in the desert fest’s 27-year history. She was only the second Latin music artist to get top billing at the event, with Bad Bunny being the first to ever do it with his 2023 headlining performances.

“This is for my Latinos that have been struggling in this country lately,” she told her fans during her history-making performance. “We stand for them. I stand for my Latina community. I am very proud because this brings out the best in us: unity, resilience and a strong spirit. We do this because we want everyone to feel welcome to our culture, so I want everyone to feel proud of where you come from.”

During her Coachella shows, which took place across two weekends in April, she brought out a cavalcade of guest performers — including L.A.’s own Becky G, the Colombian reggaeton revivalist J Balvin and Greg Gonzalez from Cigarettes After Sex.

The “Si Antes Te Hubiera Conocido” artist first teased that she’d be embarking on a tour at the end of her set during the second weekend of Coachella. Text reading “Nos Vamos de Tour” (We’re going on tour) was displayed as she played her final song.



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