🗞️NYC primary election upset

...plus a major development in the Diddy trail and U.S. new homes sales fall significantly

June 25, 2025

June 25th, 2025

What happened today 🇺🇸,

Mamdani Wins Stunning Upset in Democratic Primary as Cuomo Concedes

The socialist state Assembly member from Queens is on track to be the Democratic nominee for mayor in the general election.

www.thecity.nyc/2025/06/24/mayoral-election-first-round-results-cuomo-mamdani

  • Zohran Mamdani, the 33-year-old democratic socialist and state assemblyman, has declared victory in the 2025 New York City Democratic mayoral primary after former Governor Andrew Cuomo conceded last night…Mamdani is now on track to be the Democratic nominee for NYC mayor and the general election will take place on November 4th

  • NATO members have agreed to raise their defense spending target from 2% to 5% of GDP by 2035, marking the most significant increase in the alliance’s history

  • President Trump plans to limit sharing classified information with Congress after the leak of an internal assessment that suggested that the U.S. bombing of Iranian nuclear sites was less effective than publicly claimed

  • Director of the Federal Housing Finance Agency (FHFA), Bill Plute, has officially ordered Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for mortgage applications…read more here

  • Sean "Diddy" Combs's federal sex trafficking and racketeering trial is nearing its conclusion, with both the prosecution and defense resting their cases after weeks of testimony…today in a significant development, prosecutors have dropped several charges, including attempted kidnapping, attempted arson, and aiding and abetting sex trafficking, just before closing arguments which are scheduled for Thursday

  • Early today the WSJ reported Shell is in early-stage talks to acquire BP, however Shell later publicly denied the reports that it is in talks to acquire BP and stated, "No talks are taking place" in response to the WSJ article

  • Bumble has announced they will lay off 30% of their global workforce which is roughly 240 employees, as part of a major restructuring effort to reduce costs and refocus on product and technology development

  • Just six months into 2025, employers have already announced almost 700,000 job cuts, which is an 80% increase from the same period last year

  • Sales of new single-family homes in the U.S. fell sharply by 13.7% in May compared to April, dropping to a seasonally adjusted annual rate of 623,000 units…year-over-year new home sales were down 6.3%

  • DOW down .25% / S&P was flat on the day

Bonus: A look at ChatGPT availability around the world

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Comic of the week 😂:

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