Financial Focus: How Will Brexit Ultimately Affect Your Money?

By ANTHONY RIVIECCIO, MBA, PFA

The busiest volume in over five years! The British pound tumbled to near $1.32, its lowest level since 1985, before bouncing back to a loss of 8 percent at $1.3678. The five percent drop in the United States Stock Market following Brexit was the worst in 10 months. Wall Street (and your retirement plan) are now -0.5 percent. And our financial markets now have a lot to digest. Britain’s decision to leave the European Union (E.U.) has started a trickledown effect that will leave a gaping hole in many areas of its united armor. If Switzerland, Spain, Ireland, just to name a few, continue

State Senator Adriano Espaillat largely owes his primary victory in the Democratic 13th Congressional District race to the Bronx, which takes up 20 percent of the gerrymandered district that also covers Norwood. Mr. Espaillat took in 15,735 votes over the presumptive frontrunner, Assemblyman Keith Wright, who took in 14,499 votes in a stunning upset. Mr. Espaillat also won the Bronx by 853 votes. Granted, June 28 did mark a primary, but with the district heavily Democratic, November’s General Election will formally see Mr. Espaillat ascend to the seat. With that: Mr. Espaillat, please open a Bronx constituent services office. After

The latest edition of the Norwood News is out with plenty of community news you can use to make you a more aware Bronx resident! This week we have 16 pages packed with news happening in the Norwood area and surrounding communities. Our page one story takes us to the heart of the neighborhood and accusations of welfare fraud by a popular halal deli on East 204th Street. A raid rounded up members of the family-owned operation. David Greene spoke with the son of the owner. See what he has to say. We then turn to an editorial found on

By TATYANA TURNER

While plans for the Kingsbridge National Ice Center (KNIC) are on a holding pattern pending lawsuits, Bronx residents affiliated with labor unions are making sure that jobs for the $350 million project go to them. Union representatives, community advocates, and residents marched around the Kingsbridge Armory, the expected home of KNIC, chanting “Let’s Keep the Fight” in response to the pending decision of whether or not union jobs will be used to help repurpose the 750,000-square-foot space. The Clean Slate, Rebuilding America, and Laborers International Union of North America were some of the unions represented at the protest on June

A popular deli in Norwood has reopened after being shuttered for six days following an alleged food stamp fraud scheme, shocking residents who frequent the eatery. But the owner and his associates who are all related still face a slew of charges after several family members were arrested in an early morning raid on June 24, followed by a second raid the following day at the man’s home. The Manhattan District Attorney’s office confirmed that five family members face grand larceny and conspiracy charges for allegedly bilking the federal government out of $296,000 worth of food stamps. Police stormed into the

By DAVID CRUZ

A flood of rank and file union reps is expected to take the streets blasting the Kingsbridge National Ice Center’s noncommittal position over whether it intends to use labor unions to build the massive project, the Norwood News has learned. The demonstration, happening at 3pm in front of the armory, caps several months of questions from union officials on how the armory project would be built. Union brass have asked elected officials to aid them in their cause. The demonstrations come amid several lawsuits that look to jeopardize the $350 million project, said to be the world’s largest ice skating

By DAVID CRUZ

It’s not over til it’s over. The crowded Democratic race for the 13th Congressional District seat did not appear to go for the frontrunner, Assemblyman Keith Wright, but to his lead opponent, state Senator Adriano Espaillat. But Wright told supporters he’s not ready to concede until “every vote is counted.” He also called on the Justice Department to examine the vote count process following news reports of voter irregularities in pockets of the district, which extends into the Norwood section of the Bronx following redistricting in 2012. Voters have long complained the borough, which makes up 20 percent of the

By DAVID GREENE

The owner of a popular deli in Norwood faces a slew of charged after he and several others were arrested in an early morning raid last week, followed by a second raid the following day at the man’s home. The Manhattan District Attorney’s office confirms that the entire family has been charged in a $296,000 food stamp fraud scheme. Police stormed into the AKS Halal Deli and Grill at 319 E. 204th St. on June 24. The popular deli boasts a large spread of hot food for its regulars and passersby. Police say the owner, Ali Shahzad, 61, was taken into

By DAVID CRUZ

The CUNY School of Journalism, which oversees the Center for Community & Ethnic Media (CCEM), announced a $1 million grant aimed at offering continuing education workshops to the city’s trove of journalists covering community news with scant resources. The Mayor’s Office of Media and Entertainment (MOME) made the announcement at the school’s offices in midtown Manhattan. The office’s commissioner, Julie Menin, announced the award aimed at creating multimedia-based classes that can help “stay ahead of the changes.” CUNY School of Journalism dean Sarah Bartlett, joining Menin, called the grant a “dream come true.” Menin was also joined by CCEM’s co-director,