And after a punishing year that saw steep levies dent their bottom line, many aren’t expecting rebate checks yet.

“We’re not that confident we’re going to either get the money back or not have to pay a similar amount of tariffs going forward,” Khosrovian told The Post. “I’m dubious.”

Small business owners like Melkon Khosrovian, the owner of Greenbar Distillery in Los Angeles, are taking a wait-and-see approach after the Supreme Court rejected President Donald Trump’s main tariffs. Marc Royce

Last year, tariffs jacked up the price of glass bottles from China, exotic spices from India and coffee from Brazil for the spiritmaker, who uses the items to make canned espresso martinis.

He said he didn’t raise prices even though tariffs ate up about 20% of the profit margin at the distillery, which he co-founded in 2004 to sell classic liquors and specialty canned cocktails.

In a bid to contain costs over the long run, Khosrovian ordered $400,000 of equipment to automate hard tasks like bottling so he could eventually let go of three of his 15 employees. The equipment is expected to arrive next week. 

Those plans could come to naught after the Supreme Court struck down Trump’s tariffs in a 6-3 ruling, leaving Khosrovian and countless other business owners wondering what’s next. 

“The unintended consequence is we have to let go of staff and I’m sure no one wanted that to be the end result of all these tariffs,” he said. “We’re buying equipment from abroad to eliminate jobs in this country. Who wanted that?”

Khosrovian co-founded Greenbar Distillery in 2004 to sell classic liquors and specialty canned cocktails. Greenbar Distillery.

The court’s decision didn’t address the elephant in the room – whether Washington will have to repay the tariff revenue it has collected – and Trump has promised to keep an aggressive tariff regimen in place.

Khosrovian said for now he will continue with his plans to automate certain processes and cut jobs, regardless of the ultimate outcome with the levies.

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“It’s in the president’s hands,” is how one person close to the process of nominating the next Fed chairman put it.

Trump began meeting with other candidates this week as he zeroes in on his decision for Fed chair. Earlier in the week, he sat down with former Fed governor Kevin Warsh, an academic at Stanford. Other candidates might make their way to the Oval for similar meetings. 

Kebin Hassett is the overwhelming favorite to take the job because President Trump is obsessed with lowering short-term interest rates. Hassett is seen as a guy who will do whatever it is to push through Trump’s agenda.  Jack Forbes/NY Post Design

But the managerial class — which is closely watching Trump’s choice for obvious reasons — sees these confabs as performative as opposed to substantive.

Hassett, every CEO and corporate executive I speak to, is the overwhelming favorite to take the job because Trump is obsessed with lowering short-term interest rates, and while the office’s current occupant just cut them a bit, Trump wants them cut more. Hassett is seen as a guy who will do whatever it is to push through Trump’s agenda. 

More From Charles Gasparino

“He does it three times a day,” is how one CEO described Hassett’s cheerleading of MAGA economics as he vies for a job that is supposed to be independent from the White House.

The Fed, of course, was created by Congress to be semi-independent of the White House and politics. The president chooses the chairman subject to senate confirmation, but the term lasts four years and he can only be dismissed for “cause” like doing something illegal, or Powell would be out of there by now because he has resisted Trump’s efforts for him to cut short term interest rates more and faster.

Fed Chair Jerome Powell has resisted Trump’s efforts for him to cut short term interest rates more and faster. Xinhua/Shutterstock

The Fed is also known for its “dual mandate.” It conducts what’s known as monetary policy by increasing or decreasing the money supply through various measures including adjustments of short-term interest rates to achieve what’s known as “price stability.” The other part of the mandate involves creating as much employment that’s possible before the economy overheats and causes inflation. 

It’s not an easy balancing and it often puts the Fed and the chairman who sets the policy tone at odds with the White House as Powell has been with Trump.

The betting is Trump won’t have that issue with Hassett, currently his director of the National Economic Council. Hassett has been reliable tout of MAGA policies such as tariffs, which some say has contributed to the sticky inflation that has led to the so-called affordability crisis, and ways Trump has sought to band-aid the situation by delivering tariff bonuses to many Americans or subsidies to farmers hurt in the trade war. 

Earlier in the week, Trump interviewed former Fed governor Kevin Warsh, an academic at Stanford. REUTERS

Here’s why CEO and market types are worried about making him Fed chair: He could literally spook the bond market if traders are convinced he will keep printing money and do stuff that aid Trump’s economic plans such as massive cuts in short term rates, and ignore inflation.

That could lead to investors demanding higher rates to buy our debt, and when that happens — spiking yields on the 10-year and 30-year bonds — not only do we pay more to finance the budget deficit, it will likely lead to an economic slowdown.

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As I reported, CEOs have warned the White House that a Hassett nomination could disrupt the bond markets, and presumably that’s why Trump has held those meetings earlier in the week to show he’s triple-checking his gut on his choice to replace Powell when he retires next year.

But Trump isn’t easily swayed, and he likes what Hassett brings to the table. He’s TV ready (a big presence on my employer Fox News explaining MAGA economics) and has an accomplished resume. He holds a PhD in economics from the University of Pennsylvania and has served time in think tanks and at the Fed as an economist.

Yes he checks a lot of boxes including the one that really matters: He’s a Trump loyalist, which is why the betting markets have him as the favorite.

Could Trump surprise us all? Maybe. If he does, Wall Street will be cheering. 

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The JPMorgan Chase CEO didn’t mention Mamdani by name in his Thursday remarks at a conference in Miami, but made several pointed references to the hard-left ideas espoused during his campaign. Those include free childcare and free buses — and pledges to soak the rich to foot the bill.

“This notion of somehow being anti-business is going to help average American citizens, even the lower paid,” he told an audience at the American Business Forum, a Saudi Arabia-backed summit in Miami. “I don’t agree with the concept.”

JPMorgan CEO Jamie Dimon took a not-too-subtle swipe at hard-left NYC mayoral election winner Zohran Mamdani during an appearance at a Saudi-backed business forum in Miami, Florida. Getty Images for America Business Forum

The 69-year-old Wall Street titan likewise warned that “beating up business as a way to fix things” — whether it’s crime, education or the cost of living — could shrink the city’s tax base as financiers and corporations relocate to lower-tax states. The bank itself has just opened a swanky new Park Avenue HQ.

“Everyone has to compete,” Dimon said, citing how Florida and Texas were tempting Wall Street firms to move out of the Big Apple. “It’s competitive between countries, between states, and between cities. A bunch of these states that are driving business out — it will backfire.

“A lot of those cities do things in the name of good, which create bad,” he added. “All of these bad policies, in my view, usually hurt the lower-paid people more.”

Dimon reportedly tried to reach Mamdani by phone on Wednesday but was unable to connect. The Post has approached a JPMorgan spokesman for comment.

The Queens native previously called Mamdani a “Marxist” this past summer, but recently offered to advise the 34-year-old mayor-elect on the challenges that come with the role of managing the city’s $115 billion budget.

Dimon said Democrat-led cities such as New York should reduce what he called “blue tape” — excessive regulations that stifle growth and hurt workers and consumers alike.

During a conference in Dublin, Ireland, earlier this summer, Dimon had labelled Mamdani as a “Marxist” but has since offered to help the inexperienced failed rapper as he takes on one of the biggest political jobs in the United States ZUMAPRESS.com

“We’d better start fixing these things. Because in 30 years, if we don’t, we are going the way of Europe,” he said, pointing to the continent’s ever-shrinking share of global GDP.

On Wednesday, Dimon told CNN Mamdani should consult with outgoing Detroit Mayor Mike Duggan, who has been credited with reviving his city after bankruptcy. Dimon cited Duggan’s execution and practical governance, noting that enthusiasm alone does not guarantee success.

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Big Apple power broker Kathryn Wylde, the CEO of Partnership of New York, told The Post that the assemblyman “has demonstrated that he is a good listener and he is willing to accept that there are other ways to achieve his goals besides actions that hurt the economy.”

“What he has said to our members, he is going to pursue his goal of reducing costs, whether it’s rent, groceries, or childcare, and he won’t compromise on them,” she added. “But Mamdani is wide open on how to get there, to the extent that he is willing to accept advice from the business community.”

JPMorgan’s Dimon told CNN on Wednesday that Zohran Mamdani should reach out to Detroit Mayor Mike Duggan, who has turned around Motor City’s economic fortunes since taking up the job in 2014. Getty Images

Dimon, who earned $39 million last year according to filings, has become increasingly vocal on political issues ranging from U.S. support for Ukraine to global competition with China.

The Post’s Charlie Gasparino reported in June that Dimon has not yet fully closed the door on a possible run for the White House. Sources close to the JPMorgan CEO have always downplayed his chances of winning a Democratic primary, but never ruled out a tilt at America’s top job.

He has hinted at retirement within the next few years. Potential successors include Marianne Lake, CEO of consumer and community banking; Troy Rohrbaugh, co-head of commercial and investment banking; and Mary Erdoes, CEO of asset and wealth management.

In 2021, the JPMorgan board granted Dimon a special award of 1.5 million stock options that vest in 2026, giving him an incentive to stay on through that year.

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The defendant in question, Carol Cote, has agreed to plead guilty to racketeering and conspiracy to commit racketeering charges in a deal made with prosecutors involved in the case involving suspended Osceola County Sheriff Marcos Lopez. The details of the deal have not yet been made public.

Cote is a Marion County resident who was named as a co-defendant in the racketeering case. She is due to be sentenced on October 13 in Lake County. A racketeering conviction in Florida is considered a first-degree felony, with a potential penalty of up to 30 years in prison and fines of up to $10,000. However, a plea deal may have negotiated a more lenient sentence for Cote.

The Sheriff Marcos Lopez racketeering case continues

The illegal gambling operation is alleged to have made more than $21 million, with Cote among seven people accused of helping or managing the operation. Authorities claim that Lopez used the illicit money to fund his election campaign to become sheriff, and then continued the ring while serving as sheriff.

Lopez would then allegedly go on to use his influence within the community to protect the club from legal scrutiny, as well as secure assets like leases and cash payments.

He was arrested on June 5 and is set to stand trial on October 20, also in Lake County. Cote is believed to have acted as the bookkeeper for the organization, making her responsible for managing the group’s financial records. Her guilty plea deal is the first conviction for the seven defendants. The charges faced by the group as a whole include racketeering, like Cote, as well as various alleged conspiracy charges.

Featured image: Osceola County Sheriff

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Lachlan Murdoch — the executive chairman and CEO of Fox Corp. and chairman of News Corp — will maintain control of the media giant forged by his 94-year-old father, Rupert Murdoch.

Under the terms of the deal, a new trust called LGC Holdco LLC, will be established for the benefit of Lachlan Murdoch, and his younger sisters Grace and Chloe Murdoch.

The Murdoch family on Monday resolved the legal battle over control of its media empire, which includes Fox Corp. and News Corp, the company said. Rupert Murdoch will continue in his role as Chairman Emeritus of both companies. REUTERS

Lachlan Murdoch will control all the votes in LGC Holdco, which will hold large stakes in Fox Corp., parent company of top-rated cable network Fox News, and News Corp — whose properties include the New York Post and the Wall Street Journal — once the deal is completed.

His older siblings — Prudence MacLeod, Elisabeth Murdoch and James Murdoch — will cease to be beneficiaries in any trust holding shares in News Corp or Fox Corp.

Rupert Murdoch will continue in his role as Chairman Emeritus of both companies.

“News Corp’s board of directors welcomes these developments and believes that the leadership, vision and management by the Company’s Chair, Lachlan Murdoch, will continue to be important to guiding the Company’s strategy and success,” a spokesperson said in a statement.

Fox Corp. stock closed at an all-time high of $62.49 on Monday. News Corp shares closed at $29.94, less than $1 off its record high of $30.75.

The value of the family stock that it owned in the trust has increased 68%, or $3.4 billion, since Lachlan Murdoch took the reins in 2019. 

Under the terms of the deal, a new trust called LGC Holdco LLC, will be established for the benefit of Lachlan Murdoch, and his younger sisters Grace and Chloe Murdoch. WireImage

New trusts for the benefit of the departing beneficiaries will receive cash consideration funded in part by using proceeds from the public sale of approximately 14.2 million shares of News Corp Class B common stock and approximately 16.9 million shares of Fox Corp.’s Class B common stock previously held by the Murdoch Family Trust.

The three siblings will get around $1.1 billion once the $3.3 billion deal closes within six months, sources told The Post.

News Corp. headquarters in Midtown Manhattan. Paul Martinka

They will also be required to sell any de minimis personal holdings in the two companies and “be subject to a long-term standstill agreement preventing them, and their affiliates, from acquiring shares of Fox and News Corporation and taking certain other actions with respect to the companies.”

As part of the agreement, the legal battle pitting Rupert and Lachlan Murdoch against the three older Murdoch children over the trust will end.

Fox Corp. stock closed at an all-time high of $62.49 on Monday. REUTERS

Rupert Murdoch had sought to amend the family trust so that Lachlan could assume control after his death. A Nevada court had ruled against altering the family trust.

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The report highlights a largely steady channelization rate between 2023 and 2024, reporting 85 percent last year, down from 86 percent the year before. The channelization rate measures how much gambling for money takes place at gambling companies with a Swedish license within the competitive market.

Such data offers a snapshot of the gambling market, underlining the proportion of players who have played in the licensed competitive market. It’s worth noting that the degree of channeling varies between different forms of gambling. For example, online betting has a higher rate than physical casinos. On-land casinos are all set to be banned in Sweden in the coming years.

The data was gathered via player surveys and internet traffic measurement. Only a small part of the traffic to unlicensed websites includes websites that the Swedish Gambling Authority has said to be targeting Swedish users without the necessary license, according to Camilla Rosenberg, Director General of the Swedish Gambling Authority.

The importance of licensed operators

While there weren’t huge changes in the channelization rate between 2023 and 2024, the rate demonstrates the impact of the licensing system. Going back just five years before to 2019, the channelization rate was estimated to be less than 50 percent.

This stems from efforts from the Swedish Gambling Authority and the state in general to gain control over the previously unlicensed gambling across the country. The greater the rate of channelization, the more control over the gambling market there is.

Working with licensed operators is the path to protecting bettors more closely, something that’s been a priority for the Swedish authorities throughout recent years.

Featured image: Wikimedia Commons, licensed under CC BY-SA 4.0

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