Eric Flynn’s LinkedIn profile lists the location of his current job, chief wealth officer of Atlanta-based Aprio Wealth Management, as “remote.” He isn’t kidding. Flynn, whose $4.1 billion-asset business sits inside a top-20 accounting firm, works from his sixth-generation family ranch, an hour outside Bozeman, Mont. Although he travels extensively, he says, “Bozeman’s home.”

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

President Donald Trump blasted New York City’s new pied-à-terre tax and said his administration is examining whether the federal government has legal authority to intervene, escalating a fight over a surcharge targeting luxury second homes.

Trump argued in a Truth Social post Tuesday that the tax could ultimately cost New York more than it raises by encouraging wealthy property owners and taxpayers to leave for lower-tax states such as Florida and Texas.

“The NYC Pied-a-Terre Tax is costing New York City and State a fortune in that the money, eventually to be gotten, is very little compared to to the TAXES PAID by the tens of thousands of people who are fleeing the City, never to return,” Trump wrote.

He added that Florida, Texas and other states are benefiting financially from people leaving New York and called the policy a dangerous political “experiment.”

NEW YORK’S WEALTHY RUSH TO AVOID MAMDANI’S SECOND-HOME TAX

The president also raised the prospect of federal action.

“I am looking to see if the Federal Government has any legal right to avert this disaster, before it is too late, for the millions of people who cherish New York and want to see it thrive, as opposed to becoming a filthy, crime ridden, decrepit place of mockery and scorn,” Trump wrote.

Trump did not identify what federal law or executive authority his administration could potentially use to challenge the city tax.

The White House did not immediately respond to FOX Business’ request for additional details about what federal authority or action the Trump administration is considering.

MAMDANI’S TAX ROLL BLUNDER WILL BACKFIRE ON EVERYDAY NEW YORKERS AS BUYERS HEAD SOUTH, DEVELOPER WARNS

Trump’s comments come one day after a New York judge temporarily restrained Mayor Zohran Mamdani’s administration from moving forward with parts of the tax rollout after three homeowners sued over how the city implemented the surcharge.

Staten Island Supreme Court Justice Wayne Ozzi ordered the city to take down a disputed property roll covering more than 900,000 homeowners and temporarily barred officials from imposing or collecting the surcharge based on the roll without first making the individualized determination and providing the notice required under state tax law.

The lawsuit challenges the administration of the tax rather than the legality of the surcharge itself.

“We disagree with today’s ruling, but we are confident in both the pied-à-terre surcharge and the City’s ability to implement it fairly and effectively,” Mamdani spokesman Matt Rauschenbach said following the ruling.

MAMDANI EXTENDS DEADLINE FOR NYC HOMEOWNERS TO SEEK EXEMPTION FROM NEW PIED-À-TERRE TAX

“This surcharge asks those who own second homes valued at $5 million or more to contribute their fair share to the city they benefit from,” he added.

Mamdani has said about 17,000 homeowners in a city of 8.5 million are potentially affected by the surcharge.

The Mamdani administration did not immediately respond to FOX Business’ request for comment on Trump’s criticism and his argument that the surcharge could drive wealthy taxpayers and property owners out of New York.

Trump also linked the surcharge to New York City’s congestion pricing program.

“Financial, and then Social, RUIN, is a 100% certainty – And then the Radical Left Jihadists charge Congestion Pricing on top of everything else,” Trump wrote.

CLICK HERE TO GET FOX BUSINESS ON THE GO

Whether the surcharge ultimately causes significant numbers of property owners or taxpayers to leave New York remains unclear.

Gov. Kathy Hochul’s office did not immediately respond to FOX Business’ request for comment on Trump’s criticism of the surcharge or the possibility of federal intervention.

The legal fight over the rollout is continuing as the Mamdani defends the surcharge and Trump considers whether the federal government has an avenue to intervene.

Mumbai: Shares of at least 45 recently listed companies are set to become eligible for trading over the next two months as post-IPO lock-in periods expire, potentially adding to the supply of shares. According to data compiled by Nuvama Alternative & Quantitative Research, shares worth around $7.6 billion are set to be unlocked between August 12 and September-end. The expiry of lock-ins allows promoters, anchor investors and other pre-IPO shareholders to sell their holdings, but need not translate into share sales.

However, the prospect of a sale could weigh on stock prices in the near term. From August 12 to the end of August, additional shares of 19 companies are scheduled to become eligible for trading: The largest unlocks by value include JSW Cement ($848 million), Fractal Analytics ($745 m), Shreeji Shipping Global ($ 731 m), Hexaware Technologies ($718 m), Clean Max Enviro

Energy Solutions ($470 m), Aye Finance ($260 m), Vikram Solar ($211 m), SBI Funds Management ($139 m) among others. Other companies schedule for unlocked are Ajax Engineering, Indo-MIM, All Time Plastics, Mangal Electrical Industries, Gem Aromatics. In September, 26 more companies will see their lock-ins expire. The largest unlock is JSW Infrasturcutre ($1.48 billion), SEDEMAC Mechatronics ($489 m), Saatvik Green Energy ($254 m), Manipal Health Enterprises ($250 m), GSP Crop Science ($155 m) among others.

Other firms such as Rajputana Stainless, Rishabh Instruments, Omnitech Engineering, Upiter Lifeline Hospital among others will also unloked. Other companies scheduled for unlocks in September include VMS TMT, Shree Ram Twister, Anlon Healthcare, Sedemac Mechatronics, Dev Accelerator and Jupiter Lifeline Hospital. “I particularly like stocks with over 6-month lock-in openings,” said Abhilash Pagaria, Head -Nuvama Alternative & Quant Research. “That is where the PE and early-investor overhang starts to ease, public float rises, and the probability of global index inclusion also improves.”

“He was immensely proud of what John Pye & Sons has become, which is thanks to his determination, vision and every single one of the extended John Pye family – his colleagues over all the years,” the statement added.

“He founded John Pye & Sons in 1968 with just a horse and cart, and lived to see a small business grow into a British industry leading company.

“Those of you who knew him or met him will know of his larger than life character, and the positive and playful impact he had on those around him.

“A true local legend.”

For the first two decades, the firm specialised in managing probate house clearances, cessation of business asset disposals and private chattels.

In 1990, the company was incorporated as ‘John Pye & Sons Limited’ and relocated to larger premises at Banton House in Meadow Lane, near Notts County’s stadium, to expand its client base in the East Midlands.

It later acquired the former Shipstone’s ‘Star’ Brewery site in New Basford in 1995 as the business grew in the 1990s, the company said.

The company added it first moved from live traditional auctions to 24-hour timed auctions in 2007.

In addition to the company’s head office in Nottingham, it now has auction hubs across the country, including in Derby, Birmingham, Bo’ness and Margam, with a further site in Zaragoza, Spain.

“On behalf of the Pye family, we would like to thank everyone for their kind words and support at this incredibly sad time.

“He will be greatly missed by all of us,” the statement from the firm added.

Supermarkets including Sainsbury’s, Tesco, Morrisons and Waitrose already have dedicated lines for wonky vegetables.

Calum Kelly, Waitrose’s produce technical manager, said in demanding weather conditions “we relax size and shape guidelines for key veg to avoid waste and provide more income to our growers and farmers”.

“Baking potatoes might be a little smaller than usual this harvest if the drought continues. All these veg still taste great, but like many of us in a heatwave, they might just look a little less than perfect.”

Not every gap can be filled this way though. Andrew Opie, the director of food and sustainability at the British Retail Consortium, said supermarkets are also importing more food from abroad as UK supplies run short.

“Retailers face the dilemma of supporting British farmers, but also making sure that we, as customers, have what we expect to buy when we go in the shop,” he said.

“It’s going to be a challenging period right through into the autumn. We’re hearing potentially it could affect things like cherries as well.”

The Federal Aviation Administration (FAA) on Tuesday announced the deployment of a new radar at Newark Liberty International Airport that’s designed to prevent incidents from occurring on busy runways.

The new radar, known as the Surface Movement Radar Model 4, allows air traffic controllers to track aircraft and vehicles on runways and taxiways in all weather and visibility conditions and prevent runway incursions that could result in accidental collisions. The SMR-4 will represent a capability improvement over the 30-year-old radar that’s being replaced.

FAA Administrator Bryan Bedford spoke at the event and said that it was the deployment of the fifth surface movement radar in the U.S.

“We will deploy 53 of these surface movement radars across the country at our top 44 busiest airports in the U.S.,” Bedford said, adding that the radar system was built in Syracuse, New York, as onshoring production of critical infrastructure was a key component of the agency’s modernization effort.

FATAL LAGUARDIA COLLISION RENEWS FOCUS ON RUNWAY INCURSION RISKS ACROSS US

“We think of modernization not just as replacing all of this old equipment. And again, this is a 30-year-old box: we can’t maintain it, they don’t build it, they don’t supply replacement parts for it. So when these things break, they’re no longer available to us, so getting this investment is critical,” he explained.

“It’s not just that we’re purchasing and deploying new equipment, we have brought these jobs back to the U.S. which is a key focus of the secretary and the president,” Bedford said.

FAA ROLLING OUT NEW TECHNOLOGY TO REDUCE RISK OF RUNWAY ACCIDENTS

Transportation Secretary Sean Duffy, who also spoke at the unveiling, noted that the surface awareness radar will “give us better technology to see airplanes, to see vehicles on the ground at Newark Airport. It’ll see aircraft on final approach. It is a more resilient system,” he added.

“It allows controllers on a dark night, or controllers in bad weather, if they can’t see out of the tower and see what’s happening on the tarmac, they can actually use this radar to see on their screens where everything is at – airplanes, vehicles – and again, it keeps the American public safer as we use American skies,” Duffy said.

AMERICAN AIRLINES JET CANCELS TAKEOFF AFTER LAX RUNWAY INCURSION

The Department of Transportation and FAA noted in a release that they’ve installed 96 new systems around the country over the last year that are related to the agency’s surface awareness initiative.

FAA data shows that there have been 1,102 runway incursions in the agency’s fiscal year 2026 so far – down from 1,197 in the same period a year ago. The data includes operational incidents, pilot deviations, vehicle or pedestrian deviations, and other forms of incursions.

GET FOX BUSINESS ON THE GO BY CLICKING HERE