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PRESS DIGEST- New York Times business news - Aug 26

BY Reuters | ECONOMIC | 08/26/25 01:16 AM EDT

Aug 26 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.

- U.S. President Donald Trump said on Monday that he was taking the extraordinary step of removing Lisa Cook from the Board of Governors of the Federal Reserve.

- Lisa Cook said that she would not step down from the Federal Reserve, hours after U.S. President Donald Trump said that he was taking the extraordinary step of removing her from the central bank's board of governors.

- U.S. President Donald Trump signaled on Monday that he would pursue investments in major U.S. companies, describing his new economic strategy as an attempt to "get as much as I can."

- SpaceX scrubbed the 10th test flight of Starship, the mammoth rocket that Elon Musk hopes to use to take people to Mars, for the second night in a row on Monday. (Compiled by Bengaluru newsroom)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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