Chinese-Born US Sailor Found Guilty of Spying in Espionage CaseA fireworks storage facility explosion injured at least 25 people
FROM THE NEWSROOMIt’s Friday, August 22nd. This is The Daily Take, your daily window into the world of The Newsroom and our take on the world at large. A New York appeals court struck down the $527 million penalty against Donald Trump, but upheld business sanctions that could reshape his empire. Housing data showed a rare sign of relief for buyers, with sales climbing as prices finally cooled. National security concerns deepened with the conviction of a U.S. sailor for espionage, while corporate America wrestled with the fallout of brand changes at Cracker Barrel. And on the coast, rising seas continue to claim homes, reminding us of the stakes in climate resilience. Let’s dive in! Appeals Court Tosses Trump's $527M Penalty But Upholds Business Sanctions
A New York appeals court threw out the $527 million penalty against President Trump in his civil fraud case, ruling the fine was "excessive" and violated the Eighth Amendment. However, the court upheld sanctions barring Trump from serving as an officer or director of any New York corporation for three years, with his sons banned for two years. Read Full StoryHome Sales Climb as Mortgage Rates Ease and Price Growth Slows
US home sales rose 2% in July to 4.01 million units as mortgage rates eased slightly and home price growth slowed dramatically. The national median price increased just 0.2% annually to $422,400, the smallest gain since June 2023. Housing inventory reached its highest level since May 2020, giving buyers more choices despite affordability challenges remaining.. Read Full StoryChinese-Born US Sailor Found Guilty of Spying in Espionage Case
Following a trial of five days, Jinchao Wei, aged 22, was convicted in San Diego by a federal jury on six counts, including conspiracy to commit espionage, espionage, and the illegal exportation, as well as conspiring to export technical data about defense articles. This was seen as a violation of the Arms Export Control Act and the… Read Full StoryOUR DAILY TAKES
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Friday, August 22, 2025
Chinese-Born US Sailor Found Guilty of Spying in Espionage Case
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