The Opening Trade 7/29/2025
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Yahoo
2 hours ago
- Yahoo
Thousands gather to farewell NYPD officer killed in Midtown mass shooting
Thousands gathered to say farewell to the New York City Police Department officer who was killed in Monday's mass shooting in Midtown. The funeral for 36-year-old Didarul Islam took place at the Parkchester Jame Masjid, located on a residential street in the officer's neighborhood in the Bronx, three days after he was killed in the deadliest shooting in the city in a quarter-century, The New York Times noted. The gunman entered the office building at 345 Park Avenue with an assault style-rifle and started to discharge the weapon. He killed Islam and two others before heading to the 33rd floor, where he killed a fourth person, before he died by suicide. Police say the shooter, Shane Tamura, 27, had made his way to New York from his Nevada home, where he was set on targeting the headquarters of the National Football League. Hundreds of officers from as many as 54 of the 77 precincts in the city, as well as from states and counties in the surrounding area, attended the funeral. The streets around the mosque were empty of cars for the proceedings, with Police Commissioner Jessica Tisch saying that 'Didarul Islam came to this country as an immigrant with no guarantees, only the hope that hard work, that humility, and that purpose might lead him somewhere meaningful. And it did.' The rituals went on for close to four hours, with separate viewings for men and women. Floral wreaths covered the room, with the casket covered with the Police Department's standard in green, white, and blue. Mayor Eric Adams, himself a former NYPD officer, spoke at the funeral while the winner of the Democratic mayoral primary, Zohran Mamdani, sat with the family, The NYT noted. Islam came to New York City from Bangladesh when he was 20 years old, living in a small house along with his parents, his young sons, and his pregnant wife. In a eulogy read on his wife's behalf, she wrote that Islam had 'lived to help others' and that 'He gave his life protecting them. Though my heart is broken, I find comfort knowing that his sacrifice might have saved others.' Islam, who served in the department for three and a half years, joined the agency after spending two years as a safety agent in city schools. Even as an officer, he spent his time off as a security guard. Islam worked the Dominican Day Parade in the Bronx on Sunday before picking up an additional shift on Monday at 345 Park Avenue. 'He stepped into a new land and chose to become part of its promise, to believe in its dream. And he did believe in the American dream, not as something handed down but as something built with your own hands,' said Tisch. 'He may not be here to see that dream fulfilled, but his sons will surely grow up with its foundation beneath their feet.' Friends and colleagues said Islam was a devoted Muslim. Imam Dr. Zakir Ahmed of the Islamic Cultural Center of New York said during remarks that Islam, 'lived at a time when people like him are too often feared, vilified and made to feel like outsiders.' 'We cannot honor Officer Islam today while ignoring the daily pain endured by his community — being told to go back where you came from, being watched more closely, judged more harshly and loved less fully,' Imam Ahmed added, according to The NYT. 'To our city, our nation, you cannot ask us to serve and then silence us,' he said. 'You cannot take our sacrifice and ignore our suffering.'
Bloomberg
2 hours ago
- Bloomberg
FCA Car Finance Ruling, Trump to Name New Fed Governor & Jobs Data Head
Shares of UK lenders including Lloyds, Close Brothers and Barclays jumped on Monday after the industry won a major reprieve in a pivotal UK car finance case before the country's top court. President Donald Trump said he will announce a new Federal Reserve governor and a new jobs data statistician in the coming days, two appointments that may shape his economic agenda amid anxiety over the trajectory of global growth. For the Fed, Trump said he has a 'couple of people in mind' for the role that opened up after Adriana Kugler announced Friday that she would vacate her board of governors seat, which wasn't due to expire until January. The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Anna Edwards, Guy Johnson and Kriti Gupta. (Source: Bloomberg)
Yahoo
9 hours ago
- Yahoo
US copper prices soar after Trump threatens 50% tariff on imports
US copper prices spiked after US President Donald Trump said he planned to place a 50% tariff on imports of the metal on Tuesday. Copper futures traded in New York jumped around 13% to $5.69 a pound, a record closing-price, dramatically outpacing gains on copper futures traded in London. As of around 3.30am EDT on Wednesday, the New York price had dropped to around $5.59, although it remained at a much higher level than before Trump's announcement. The president commented on the tariff during a televised cabinet meeting, without giving great detail, and Commerce Secretary Howard Lutnick said the administration would formalise the decision in the coming days. Lutnick suggested that the duty would come into effect around the end of this month, or in early August. The development also comes as Trump is nearing his 1 August deadline, before which he has vowed to slap 'so-called' reciprocal duties on countries running a trade surplus with the US. The president has been sending out letters to trading partners, notifying them of tariff rates, and he said that seven more country-specific rates would be announced on Wednesday. So far, the US has reached trade agreements with the UK, China, and Vietnam. Related Paramount pays Trump $16 million to settle '60 Minutes' lawsuit Trump sends tariff letters, placing 25% duty on Japan and South Korea Copper is used in a wide variety of products, meaning the tariff will affect electronics, construction, and industrial machinery, likely to push up inflation across the board. This comes as Trump is putting pressure on Federal Reserve Chair Jerome Powell to cut interest rates. Powell said last week that the Fed would have eased monetary policy by now if not for the new US tariffs, which are sowing uncertainty and risking economic stability. According to the US Geological Survey, the US imported about 810,000 metric tons of refined copper last year, about half of what it consumed. Chile is the most significant exporter to the US, followed by Canada. A 50% tariff on the metal would bring the rate in line with the duties already placed on aluminium and steel, which became effective in June. Although the exact rate was undisclosed, the copper duty itself was not unexpected, as Trump in February ordered a Section 232 investigation into imports of the metal. The probe intends to determine whether Trump has the right to impose the tariffs on national-security grounds. Trump also said on Tuesday that a 200% tariff on pharmaceuticals was coming 'very soon', but he added that he would give the industry at least a year to adjust.
