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  • How Philadelphia’s past tragedy prepared the city for today’s extreme heat

    How Philadelphia’s past tragedy prepared the city for today’s extreme heat

    Thanks to Thomas Jefferson, we know that July 4, 1776, was a pleasant day in Philadelphia with temperatures that topped out in the mid-70s.

    Two hundred and fifty years later, visitors who descend on the city to celebrate the signing of the Declaration of Independence — and to watch a World Cup match on July 4 — will find a far more sweltering reality.

    A dangerous heat dome over the Eastern United States for the next several days is forecast to send temperatures into the triple digits, break records across multiple states, and pose health risks for tens of millions of Americans.

    In the Philadelphia area, the National Weather Service has warned that daily heat indexes could be as high as 110 degrees through Sunday. “This is not the kind of heat event we see every year,” the service wrote in an update this week, adding that the region could experience its hottest stretch since July 2011.

    Of any city in the path of the furnacelike blast, Philadelphia might be the most prepared. The onetime capital of the nation, home to Independence Hall and the Liberty Bell, has long had one of the country’s most robust heat-response programs.

    “We are a fairly well-oiled machine when it comes to monitoring the weather and making the decision to declare a heat health emergency,” said Palak Raval-Nelson, the city’s health commissioner. She said officials spent years planning for the America 250 and World Cup crowds.

    Behind those extensive preparations lies the memory of a deadly heat wave decades ago, and the lessons learned that started Philadelphia on its current path. The early interventions developed in its aftermath are still part of the city’s regular heat protocols.

    A brutal stretch of heat in the summer of 1993 killed 118 people in Philadelphia, a tally higher than in other cities that were grappling with similar conditions. Many of the victims were among the city’s most vulnerable — poor, elderly, or infirm. Some had no access to air-conditioning and were found with their windows closed, the stifling heat probably worsening any health conditions.

    In the wake of that disaster, officials dug deeper into what went wrong. At the time, deaths were typically considered heat-related only when there were documented signs of hyperthermia — defined as a core body temperature of 105 degrees or higher.

    But Philadelphia’s then-medical examiner, Haresh Mirchandani, expanded the definition of heat deaths to include those for which heat was a contributing factor, resulting in a more accurate picture of the heat wave’s toll.

    “It was a turning point,” recalled Laurence Kalkstein, a climatologist and heat-mortality expert who worked with Philadelphia on developing a novel approach that would eventually be emulated by numerous cities.

    The 1993 heat wave led to a litany of changes in Philadelphia, aimed at raising awareness and reducing risk among those residents most imperiled by urban heat.

    The city set up a mass-notification system to alert residents when the mercury spikes and conditions pose serious health risks. Officials designated cooling centers, mobilized a network of block captains to check on neighbors, launched a public awareness campaign, and set up an emergency heat hotline.

    One early study found that the early-warning system saved at least 117 lives in the first several years of the program and that the benefits far outweighed the costs.

    “Philadelphia led the pack,” said Kalkstein, who still works on heat-related policies in the United States and abroad.

    One measure of the success of such interventions, he said, is that even as global warming has worsened extreme heat events in recent decades, fatalities in places such as Philadelphia have not trended higher.

    “You would think because of climate change, heat-related deaths would be going up,” he said. “That’s not what we are finding.”

    Raval-Nelson said the preparations have been even more extensive ahead of the World Cup and America 250 celebrations, which are expected to draw huge crowds to the city.

    For example, she said the free FIFA Fan Festival on Lemon Hill will have cooling tents, water filling stations, ample shade, and medical stations. Organizers also have reduced the festival’s hours because of the forecast for crippling heat.

    Many of the same precautions — misting fans, free water stations, medical tents, extra shade — have been set up throughout the city, Raval-Nelson said, adding that Philadelphia also has “an elaborate network” of pools and spray parks where people can cool off.

    In addition, officials recently conducted the latest workshop for block captains on how to look out for residents. That can be especially key in neighborhoods such as Hunting Park, a predominantly Black and Hispanic enclave where surface temperatures can reach far higher than those in whiter, shadier suburbs.

    As this week’s heat dome descends, Raval-Nelson said she hopes the range of actions Philadelphia has taken will lead to a safer holiday throughout the city where the Founding Fathers enjoyed a much more mild July 4.

    “We want everyone to celebrate safely,” she said. “Practice makes perfect, and we’ve been practicing this.”

  • Donors were misled by Trump-backed Freedom 250, House Democrats allege

    Some donors who intended to give money to a bipartisan effort to celebrate the nation’s 250th anniversary were, instead, steered to a White House-backed initiative under false pretenses, House Democrats allege in a report released Thursday morning, citing whistleblower interviews and newly obtained documents.

    The donors meant to give money to America250, a congressionally chartered initiative to celebrate the nation’s semiquincentennial, according to Democrats on the House Natural Resources Committee. They instead were given routing and account numbers that directed their funds to Freedom 250, which President Donald Trump established last year to organize anniversary events, the report says.

    The report does not identify the donors. In interviews, Democrats said they needed to protect the identity of whistleblowers who worked with the panel. But they said their report — which includes other allegations of Freedom 250 officials and allies explicitly steering money away from America250 and toward projects shaped by Trump — shows how the president transformed a bipartisan celebration of the nation’s anniversary into an initiative that benefited him and his allies.

    “I’m a lawyer, and I know better than to pronounce that a crime has been committed,” said Rep. Jared Huffman (D., Calif.), who oversaw the report as the committee’s top Democrat. “But I do know the elements of fraud, and there is evidence of all those elements here.”

    The White House referred questions to Freedom 250, which denied that donors had been misled by its fundraising activities and criticized Democrats for the timing of their report.

    “This so-called ‘report’ is nothing more than a partisan smear from politicians who would rather manufacture division than celebrate America’s 250th birthday alongside the rest of the country,” Freedom 250 spokesperson Danielle Alvarez said in a statement.

    Alvarez also criticized America250, saying that the bipartisan organization — which Congress established in 2016 — “had nothing to show” for its 10 years of planning and spending.

    “Freedom 250 was created because the American people deserved better,” Alvarez said.

    America250 declined to comment on the specific allegations in Democrats’ report.

    “America250 will continue to focus on the values-based programming approved by our bipartisan Commission at the local, state, national and international levels, including once-in-a-lifetime celebratory moments during the 4th of July weekend,” Rosie Rios, who chairs America250, said in a statement. “We are supportive of the many other organizations planning events for the 250th at the federal, state and local level, so all Americans have ample opportunities to join in the celebration.”

    Trump has extolled Freedom 250 in public remarks, saying that the initiative has organized multiple special events. The public-private partnership, which the White House launched in December, has overseen a flurry of high-profile announcements, including some from the Oval Office.

    “We’ll have a Freedom 250 Grand Prix right here in Washington around the Capitol,” the president said last week in remarks kicking off the Great American State Fair on the National Mall — another Freedom 250-backed event.

    The Trump-backed initiative has overtaken some efforts led by America250, which is directed by a bipartisan board created by Congress a decade ago.

    America250 originally applied for and received a grant from the Institute of Museum and Library Services for so-called Freedom Trucks, mobile museums inspired by the American Freedom Train that crisscrossed the country from 1975-1976. The institute is a federal agency that provides financial support for museums and libraries.

    Officials have said the grant was later voluntarily transferred to Freedom 250, which is now operating Freedom Trucks that provide a sanitized version of the nation’s founding, according to administration critics.

    America250 officials have said they reoriented their initiative to organize events outside Washington, while Freedom 250 focuses on events in the nation’s capital. But the dueling organizations and approaches have confused some corporate leaders and lawmakers, and tensions between the groups have grown, the Washington Post reported earlier this year.

    The Democratic lawmakers’ report offers further examples of how the two groups have come into conflict.

    Some donors and sponsors interested in donating to America250 were told by the Trump administration that they lacked a “green light” to do so, according to the Democrats. The report also claims that administration officials pressured donors to redirect donations from the bipartisan effort to Freedom 250, with the Trump-backed group conducting outreach to America250 sponsors with donation requests.

    Some corporate executives did not understand the difference between the two organizations and were confused by this process, the report says.

    Freedom 250 officials also worked to deprive America250 of money, the Democrats charge, citing new examples of Trump allies pressuring donors to reallocate funds away from the bipartisan initiative. They also allege that Trump allies worked to shift public financial support away from America250, including $75 million of congressionally allocated funds that America250 leaders were expecting to receive. The remaining funds are likely to be kept by the White House, the report says.

    The reduced funding posed challenges for America250 to execute planned programming, according to the report, including grants, educational initiatives, and volunteer programs. Redirected federal funding created “significant headwinds” for this programming, the Democrats said, though the group still sought to execute all planned events through additional private fundraising.

    Though America250 is still organizing anniversary celebrations in large cities across the country, its programming has been overshadowed by that of Freedom 250. The Trump-backed group helped organize last month’s UFC fight on the White House lawn, this week’s opening of the Theodore Roosevelt Presidential Library in North Dakota, and a Trump rally and fireworks show scheduled for the evening of Independence Day.

    Freedom 250 also employs many former U.S. DOGE Service officials and harvested users’ data for political purposes, according to the report.

    Huffman said that if Democrats retake the House this fall — and obtain the power to issue subpoenas — they will open broader investigations into Freedom 250.

    “If and when we have more tools at our disposal to do investigation and oversight, perhaps in the next Congress you will see a lot more information on this, I’m sure,” he said.

  • Here’s what Abington’s new middle school might look like

    Abington School District wants feedback on design plans for a middle school set to open as early as 2029.

    The new school, designed to house 2,200 students, will be built on existing district land. The current building, meanwhile, is slated for demolition, and sports fields will be rebuilt in a $285 million project that taxpayers approved in a rare, successful referendum last May.

    The plan, as seen in a June presentation, includes more parking spaces, layouts for easier monitoring of classrooms and bathrooms, a class “pod” design, and flexible room sizes.

    Abington has extended the deadline for a community survey on the plan to July 10, district spokesperson Allie Artur said. The district will use the feedback to further refine the design.

    Abington School District shared design plans for a new middle school set to open as soon as 2029.Schraeder Group

    Design for new Abington middle school

    The academic areas of the school would be divided into sets of classrooms and bathrooms to give students a home base within the larger building, said Ryan Murphy, a project manager from ICS, the facility planning consulting firm leading the design effort.

    Those classrooms would have windows that allow adults to look in from the hallway, but are too high to distract students sitting at desks.

    The planned bathrooms would have fully private stalls, with shared sink areas equipped with cameras.

    Several classrooms, along with the cafeteria and auditorium, would have partition options for changing the room sizes.

    Initial renderings for Abington’s new middle school show pods of classrooms and bathrooms organized around a central cafeteria, shown in peach.Schraeder Group

    New middle school adds parking, moves sports

    The design adds 79 more parking spaces than the current middle school has, Murphy said. The plans also retain a track around the football field.

    The new school is to be built on the current site of the tennis courts beside the district administration building.

    While some athletic spaces, including the soccer fields, won’t be touched during construction, the tennis courts won’t be rebuilt until the old school is demolished during the 2029–2030 school year, according to the project timeline.

    The district is working with the township on a plan to use Alverthorpe Park and other venues for tennis in the meantime, Artur said.

    The new building would also give spectators access to bathrooms during games, while keeping the rest of the school blocked off.

    Initial renderings for Abington’s middle school project show the planned site of the new building and athletic spaces.Schraeder Group

    Abington takes feedback on school design

    Murphy emphasized during the June presentation that the renderings are not the final product, as the district continues to seek feedback on the project.

    A district survey last winter found that residents wanted a safe, inclusive, and cost-effective middle school filled with natural light.

    The new survey on the initial building renderings asks residents for feedback on specific design elements, including safety features, the pickup and drop-off line, and parking.

    Residents had to approve the extra spending for the demolition and construction project, which will eventually cost the average taxpayer about $54 per month.

    The successful 2025 referendum — unusual in Pennsylvania — drew 17,579 voters and passed by a 411-vote margin.

    Opponents of the project argued that $285 million is too steep, and called for a slower process to allow residents more input in the renovation and construction options.

    Advocates said renovating the existing building would cost an estimated $206 million anyway, and that needed repairs alone would cost around $100 million and require debt.

    A tax calculator that allows property owners to estimate how much the project will add to their bill has been viewed more than 27,000 times, according to the website.

    This suburban content is produced with support from the Leslie Miller and Richard Worley Foundation and The Lenfest Institute for Journalism. Editorial content is created independently of the project donors. Gifts to support The Inquirer’s high-impact journalism can be made at inquirer.com/donate. A list of Lenfest Institute donors can be found at lenfestinstitute.org/supporters.

  • 🎆 Celebrate the nation’s birthday | Things to do

    🎆 Celebrate the nation’s birthday | Things to do

    You’ve been hearing about America’s semiquincentennial all year, and now the celebration is finally here.

    Flags will fly, marching bands will play, and fireworks will light up the sky this Independence Day weekend.

    Whether you’re looking for patriotic pageantry, concerts, or family fun, it’s shaping up to be a Fourth of July weekend unlike any other.

    Also in this week’s edition:

    — Earl Hopkins (@earlhopkins_, Email me at thingstodo@inquirer.com)

    If someone forwarded you this email, sign up for free here.

    Your Independence Day playbook

    Fireworks rise, shortly after midnight, from behind the Art Museum during the New Year’s Eve concert and fireworks display, at the Oval on the Benjamin Franklin Parkway, on Thursday, Jan. 1, 2026. The event, featuring LL COOL J, DJ Jazzy Jeff, Adam Blackstone, hard rockers Dorothy, and Technician The DJ was a first for the City of Philadelphia and Mayor Cherelle L. Parker.Elizabeth Robertson / Staff Photographer

    As the nation marks its 250th anniversary, Philadelphia and the surrounding region are packed with celebrations, concerts, and fireworks displays.

    Arts intern Morgan Ritter rounded up the best places to watch fireworks across Philadelphia, the suburbs, South Jersey, and the Shore, while I have everything you need to know before heading to the city’s free July 4 concert on the Benjamin Franklin Parkway.

    This year’s One Philly: Unity Concert for America features Christina Aguilera, Jill Scott, Will Smith, Meek Mill, The Roots, DJ Jazzy Jeff, Seal, and more before the city’s official fireworks spectacular.

    Read our complete guides to Fourth of July fireworks and the Parkway concert.

    The best things to do this week

    The interior of the First Bank of the United States is pictured on Monday, June 29, 2026 in Philadelphia. The bank reopens this week following a $27 million restoration project.Erin Blewett / For The Inquirer

    🍿 Grab your popcorn: Free movie days at Philadelphia Film Society continues through Saturday. The lineup includes showings of Mean Girls and Independence Day — oh, so fitting.

    💸 Cha-ching!: Before the New York Stock Exchange was established, Philadelphia was the financial capital of the nation. This week, you can explore that history with the reopening of the First Bank of the United States. It’s open to the public for the first time in 50 years.

    🖼️ A revolutionary time: Stop by the Museum of the American Revolution for guided gallery tours, reenactment performances, printmaking demos, and other fun activities through Sunday.

    🎸 The sounds of freedom: Imagine Benjamin Franklin fronting a rock revolution. That’s the premise of The Sound of America, an electrifying musical that features 23 original songs, a walking tour, and a special remote cameo by Sir Roger Daltrey.

    📅 My calendar picks this week: Philly LOVES Stories at Fashion District, Open Streets: Midtown Village, BLACKTRONIKA: Now and Then at Silk City.

    Check out our full list of calendar picks here.

    The biggest America 250 events from now through Independence Day

    Members of the The Mattatuck Drum Band participate in the Salute to America Independence Day Parade, at Independence Hall, in Philadelphia, on the 4th of July, 2019. JESSICA GRIFFIN / Staff PhotographerJESSICA GRIFFIN / Staff Photographer

    The city has already been buzzing with activity this summer, and it’s about to get even busier for America’s 250th birthday.

    From soccer to ballet, art to history, features reporter Dugan Arnett rounded up the can’t-miss events happening across Philadelphia and the region through Independence Day. His guide includes the Chinese Lantern Festival in Franklin Square, the FIFA World Cup and FIFA Fan Festival, the Salute to Independence Semiquincentennial Parade, Pops on Independence, and dozens more celebrations.

    Read his full America 250 guide here.

    Summer fun this week and beyond

    Mr. Edison, the new restaurant at the Bellevue from Jeffrey Chodorow, in Philadelphia, June 23, 2026.Jessica Griffin / Staff Photographer

    📽️ Latino film on display: A celebration of Latino filmmakers and creatives continues through Sunday, as part of the annual Philadelphia Latino Arts & Film Festival. The event, now in its 15th year, includes a lineup of feature films, documentaries, shorts, online series, and more visual projects.

    🎭 Dear, theater lovers: Sunday is your last chance to catch the six-time Tony Award winner, Dear Evan Hansen, at Arden Theater. Grab tickets while they last, or miss out on this emotional story about an anxious high schooler forced to confront a harrowing lie.

    🍸 New restaurant opening at the Bellevue: Thomas Edison designed the original lighting inside the Bellevue, so it’s only fitting that the hotel’s newest culinary offering honors the inventor. The newly opened supper club-inspired restaurant, Mr. Edison, is worth exploring.

    🥊 Philly’s true heavyweight champion: While fictional boxer Rocky Balboa has three statues in his honor, Philadelphia’s true undisputed heavyweight champion is finally getting his just due. A 12-foot bronze statue of boxing legend Joe Frazier was unveiled at the foot of the Philadelphia Museum of Art.

    Staffer picks

    Here’s a list of the best concerts happening this week.

    Christina Aguilera performs “Cuando Me De la Gana” at the 23rd annual Latin Grammy Awards at the Mandalay Bay Michelob Ultra Arena on Thursday, Nov. 17, 2022, in Las Vegas. (AP Photo/Chris Pizzello)Chris Pizzello / Chris Pizzello/

    🎸 Thursday: Just before the July 4 weekend festivities kick into full gear, Old City will host the Red, White & Blue Music Series that includes 28 local bands and groups spread across 11 museums.

    🎷 Friday: Saxophonist Ikechi Onyenaka will lead the Friday Night Jazz Series at Spruce Street Harbor Park.

    🎤 Saturday: The One Philly: United Concert for America will be a star-studded affair, featuring performances from Christina Aguilera, Jill Scott, Will Smith, Meek Mill and other notable stars.

    🎸 Sunday: Paul Simon is bringing his “A Quiet Celebration” tour to the TD Pavilion at Highmark Mann to close out the celebratory weekend.

    ❓Pop quiz

    What year did the first Independence Day celebration take place in Philadelphia?

    a) July 4, 1776?

    b) July 4, 1777?

    c) July 4, 1780?

    d) July 4, 1781?

    Here’s the answer to last week’s question: When did the Lit Brothers building first open? Answer: 1871

    Ask Earl anything

    I’m starting something new for the newsletter, and I want your participation.

    Many of you have questions about each week’s listings, and others about Philly’s arts, culture, and entertainment scene.

    I have you covered. Have a question? Email me for a chance to have it answered in an upcoming newsletter.

    Alright, folks! That’s all for this week’s edition of Things to Do. And if you couldn’t tell, it’s a celebratory moment — not only for the city, but for the nation. Enjoy this historical moment to the fullest.

    — Earl Hopkins

    Courtesy of Giphy.comCourtesy of Giphy.com
  • Pope Leo XIV is speaking to the National Constitution Center live from the Vatican. Here’s what to know.

    Pope Leo XIV will accept the National Constitution Center’s Liberty Medal on Friday, delivering remarks live from the Vatican that will be broadcast inside the Sixth and Arch building.

    The U.S.-born pontiff’s speech is a major addition to Philadelphia’s already extensive lineup of activities and events on the eve of the United States’ 250th birthday on July Fourth.

    His speech will be particularly anticipated in Philadelphia given the Semiquincentennial and Leo’s deep ties to the Philly area.

    The Catholic leader has garnered attention for clashing with President Donald Trump’s administration, which will be further exemplified by his visit with migrants on Independence Day.

    His award acceptance speech also comes just two days after traditionalist Catholics in Switzerland defied him by consecrating bishops without his consent, which Leo called “a sin of extreme gravity,” the Associated Press reported.

    His Friday remarks were initially going to be broadcast on Independence Mall but it was moved inside due to extreme heat.

    Here’s what to know ahead of his Liberty Medal speech.

    What are Pope Leo’s connections to the Philly area?

    Not only is he the first U.S.-born pope, but he has connections to the Philly area — despite being from Chicago.

    Leo graduated from Villanova University in 1977 with a bachelor’s degree in mathematics. He received an honorary doctorate of humanities in 2014 from the Augustinian university.

    Those who knew him at the time described him as a Midwesterner with a sense of humor who was tuned in to global issues like immigration and poverty — and like anyone who goes to Villanova, a big basketball fan. He worked part-time at St. Denis Catholic Church in Havertown as part of the cemetery maintenance crew during his studies.

    In May, he passed along a surprise commencement message to this year’s graduates. In that message, he fittingly referenced America’s 250th anniversary.

    “May the graduates of 2026 always be faithful to the guiding light that has been so important for these 250 years,” Leo said.

    This video screen grab shows Pope Leo XIV wearing a Villanova hat given to him during a meeting with an Italian heritage group.Associated Press

    Last month, a delegation from Philadelphia’s National Constitution Center met with Leo at the Vatican to present him with the medal. They would have been remiss to forget to celebrate his Philly connections.

    So they brought him a few local goodies: a bundle of Villanova swag, a replica of George Washington’s Acts of Congress, and, best of all, a Wawa tote bag filled with Tastykakes.

    Vince Stango, interim president and CEO of the Constitution Center, said the visit had “a real Philadelphia vibe that was unmistakable.”

    What’s the Liberty Medal?

    The Liberty Medal has been presented by the nonpartisan National Constitution Center since 2006, offering the esteemed prize to individuals and organizations who “strive to secure the blessings of liberty to people around the globe.”

    In Leo’s case, he’s receiving the award because of his work in promoting religious liberty.

    Previous recipients of the award include Ukrainian President Volodymyr Zelensky, the late U.S. Supreme Court Justice Ruth Bader Ginsburg, the late U.S. Sen. John McCain (R., Ariz.), and the late civil rights leader and U.S. Rep. John Lewis (D., Ga.).

    How do I watch?

    The National Constitution Center is streaming the ceremony live on its YouTube channel at 10:45 a.m. NBC10 will also broadcast the awards.

    Tickets to the event were previously made available to the public and other invited guests.

    What’s going on with the pope and Trump?

    Trump invited the pontiff to visit the United States on July Fourth to celebrate the 250th anniversary of the country. He declined.

    Instead, the pope will spend Independence Day visiting Lampedusa, an Italian island in the Mediterranean Sea located between Tunisia, Malta, and Sicily. It‘s a major entry point for migrants seeking refuge in Europe from North Africa. It’s one of the deadliest migration paths in the world, Reuters reported.

    Leo’s predecessor, Pope Francis, visited the island in 2013.

    Francis, who was close with Leo, also clashed with President Donald Trump and Vice President JD Vance on issues like immigration, and that tension has continued under the new pontiff.

    The pope said in November that the United States has been treating migrants “in a way that is extremely disrespectful” under the Trump administration. A month prior, he suggested that the United States’ treatment of immigrants is “inhumane.”

    Vance, who converted to Catholicism in 2019, said this week on Fox News that he finds the Vatican’s immigration views “troubling,” saying that “mass migration has victims.”

    Leo was also outspoken in his opposition to Trump’s war in Iran, and the Vatican declined to participate in Trump’s “Board of Peace” for Gaza.

    Trump has not held back on his criticism of the pope, calling him “WEAK on Crime, and terrible for Foreign Policy” in an April social media rant. He faced condemnation from Catholics — who have found themselves taking a side between the pope and the president — after sharing a now-deleted image of himself presented as Jesus.

    It will be telling whether Leo leans into his disagreements with the Trump administration, whether directly or indirectly, during his speech on Friday.

  • How unknown Chinese ‘insider traders’ cost Jeff Yass’ firm more than $70 million

    How unknown Chinese ‘insider traders’ cost Jeff Yass’ firm more than $70 million

    Susquehanna Investment Group, the Bala Cynwyd investment and trading firm that has made cofounder Jeff Yass the richest man in Pennsylvania, on Monday persuaded a federal judge in New York to freeze accounts of up to 100 options traders, who the firm contends used inside information to book illegal profits of over $100 million, largely at Susquehanna’s expense.

    The firm won the temporary injunction even though Susquehanna acknowledged it didn’t know the names of any of the alleged inside traders. It hopes the freeze will force them into the open.

    Susquehanna’s lawsuit, accusing them of illegal insider trading and unjust enrichment, identifies each as “John Doe” and asks the court to order the traders to pay back their illegal profits, plus expenses.

    “The timing, size, type and pattern of their trading, and the lack of any plausible alternative explanation” for some 200,000 “short-dated put options” are “powerful evidence” of the scheme, according to Susquehanna’s June 29 complaint. The company alleges that someone traded illegally on inside information about the Chinese government’s planned May 22 crackdown on international trading platforms.

    At the firm’s request, Judge Arun Subramanian of U.S. District Court in Manhattan signed an order that day freezing the unknown traders’ profits from suspiciously successful bets that the valuations of two online trading firms would shortly crash:

    • Futu Holdings Ltd. (which trades under the share symbol FUTU), a Hong Kong-based, Nasdaq-listed online brokerage
    • UP Fintech Holdings Ltd. (TIGR), the Singapore-based, Nasdaq-listed owner of New York-based TradeUp Securities, another electronic trading platform.

    The preliminary injunction stopped the unknown traders from cashing out Futu and UP Fintech options held in their accounts at brokerages associated with both of the firms and with Interactive Brokers Group Inc., billionaire online-trading pioneer Thomas Peterffy’s Connecticut-based trading platform. The brokerages themselves were not accused of wrongdoing.

    The traders will have a chance to ask the court to release their assets at a hearing July 10 in New York, after posting $100,000 in advance — effectively identifying themselves as defendants in Susquehanna’s suit. The court order also authorizes Susquehanna to subpoena broker records in an effort to learn their identities.

    On Wednesday, Bloomberg reported the SEC is investigating the case.

    According to Susquehanna’s complaint, the traders, operating through their brokerage accounts, bought $12 million worth of low-cost options in Futu and UP Fintech, betting the stocks would decline in the days before China announced stern penalties on brokers accused of illegally moving cash to foreign markets.

    The purchases were many times the usual volume of Futu and UP Fintech options trades and accounted for most of the trades in those options during that period, according to the suit.

    Futu and UP Fintech announced on the day of the crackdown that they were, in fact, facing enforcement actions by China regulators, with proposed multimillion-dollar penalties.

    That news sent each stock crashing more than 30%, according to the lawsuit — a loss for shareholders and for other options traders who were betting the stocks would rise, but enriching the unknown traders who had bet on a drop.

    In all, the news boosted the value of the unknown traders’ investments by more than $100 million, according to the suit.

    More than $70 million of the profit was made on options purchased from Susquehanna, the suit says.

    The options purchases were so closely coordinated, their expiration dates so soon after May 22, that the trades “suggest inside knowledge” of the crackdown, the suit contends.

    Susquehanna suggested two possible groups of insiders, who either “tipped” favored traders to buy the options, or illegally traded on the inside information themselves:

    • Futu and UP Fintech staff “who had knowledge of discussions with Chinese securities regulators” or
    • Corrupt Chinese securities regulators who knew in advance of their agency’s own enforcement actions.

    Acting on such insider information is illegal under Chinese and U.S. law, according to the lawsuit, and adding the scale of the profits makes this “one of the largest documented cases of insider trading in recent memory.”

    Susquehanna asked for a jury trial, the return of $71.4 million it lost to the traders, plus costs and other payments.

    Susquehanna is one of the biggest U.S. “proprietary trading” firms that buy and sell securities, mostly using their partners’ funds.

    Under Yass, it has also been a pioneering, long-term investor in China-based digital companies. That includes large positions in TikTok owner ByteDance.

    Because of the fraught U.S.-China relationship and concerns by Congress members of both parties about TikTok’s influence over U.S. consumers, President Donald Trump and other U.S. officials have mulled potential restrictions on TikTok’s ownership and operations, and Susquehanna and other investors in that business have been obliged to engage with them. Yass is a prolific political donor.

    Susquehanna has reinvested profits from its large, lucrative trading operations into more than 350 China-based tech, retail, and industrial companies. Some of them have prospered, and for many more profits have been elusive.

    The firm also has funds that invest in U.S., European, and Israeli private and public companies, and in South and Southeast Asian companies.

  • Jaylen Brown-Paul George trade grades: The Sixers just got their second big win over the Celtics in as many months

    Jaylen Brown-Paul George trade grades: The Sixers just got their second big win over the Celtics in as many months

    Wednesday’s trade between the 76ers and the Boston Celtics has left many puzzled. In exchange for Paul George, two first-round, and two second-round draft picks, the Sixers received Jaylen Brown from the Celtics.

    Still, despite the struggle to make sense of how the trade unfolded, people had a lot of thoughts.

    Here is how the national experts are grading the George-Brown trade …

    ESPN

    Sixers: A-

    With guards like Tyrese Maxey and VJ Edgecombe and a center like Joel Embiid, ESPN wrote that Brown could be the fit that the Sixers needed, but that’s also not guaranteed.

    “As a pure talent play, trading this package for Brown should have been an incredibly easy decision for the 76ers’ new front office,” Zach Kram wrote. “They’re swapping a declining role player for an All-NBA star who’s six years younger and still at his peak, and they’re not giving up close to all the draft capital they could have in the process.”

    Celtics: D+

    As for the other end of the trade, there was no wondering how George would fit. No matter what, ESPN wrote that it was a bad move on the Celtics’ part. The only alternative ESPN considered was if the Celtics would package the picks they received in the deal for another star.

    “Swapping Brown for George makes the Celtics worse. It clearly makes them worse. Crucially, it lowers their playoff ceiling,” Kram wrote.

    The Athletic

    Sixers: A

    The Athletic predicts that swapping George for Brown will be a big difference-maker for the Sixers and their position in the Eastern Conference, especially considering George’s previous season, 25-game suspension and all, compared to Brown, who had one of his best individual seasons.

    “The Sixers can now roll out a perimeter attack of Maxey, Brown and Edgecombe, which is going to be nearly impossible for teams to match up against,” Zach Harper wrote. “On the nights Embiid is available and active, they could be one of the best teams in the East. On the nights when Embiid is struggling or unable to play, they’ll still be fine.”

    Celtics: D+

    The Celtics’ part in this trade, the Athletic said, feels like a panic move in reaction to the tension Brown seemed to be feeling following the discussions about his role in a possible trade for Giannis Antetokounmpo.

    “The Celtics’ decision to go with George instead of Brown is a massive downgrade. He has a much more alarming injury history, and he’s simply not as good,” Harper wrote.

    Even when Sixers center Joel Embiid (21) is out, adding someone like Jaylen Brown offers a boost.Yong Kim / Staff Photographer

    CBS Sports

    Sixers: A+

    When ranking the worst contracts in the NBA in March, the now-36-year-old George’s deal was No. 4. Moving off that contract and adding Brown is a win-win in CBS’s eyes.

    “For all of these years, we’ve talked about the possibility of Brown getting traded so he could lead his own team,” Sam Quinn wrote. “On the 76ers, there will be nights in which he’s the leading scorer and there will be nights in which he finishes fourth. To get a reliable, in-his-prime All-Star for two picks and what we’ve been treating as one of the NBA’s worst contracts is an outright steal.”

    Celtics: D-

    For the Celtics, CBS Sports considered how Brown’s contract no longer worked for the team, but still, George’s contract doesn’t seem to make sense for them, either.

    “The theory of trading Brown in the first place, unless there was unresolvable tension behind the scenes, seemingly related to his contract,” Quinn wrote. “Both he and Tatum are making supermax money. Having two players make 35% of the salary cap every year puts an almost impossible strain on your depth.”

    Yahoo! Sports

    Sixers: A

    Yahoo! Sports minced no words in declaring that Philly got the better player in the deal, while also dumping a worse contract. There are, however, concerns with Brown’s fit with the Sixers.

    “Brown isn’t necessarily a strong outside shooter, which is a necessity alongside Maxey and, in particular, Embiid,” Morten Stig Jensen wrote.

    “Overall, though, Philly takes a step forward here with a pretty durable 29-year-old coming off an outstanding season.”

    Celtics: B

    Yahoo! Sports had a much more optimistic spin than most other experts when it came to Boston and the dimensions of the trade.

    “George, 36, might have health issues, but when he does play, his shooting capabilities align perfectly with the values of head coach Joe Mazzulla, which shouldn’t be undervalued,” Stig Jensen wrote.

    At 36 years old, forward Paul George could be more open to a complementary role with the Celtics.Monica Herndon / Staff Photographer

    Bleacher Report

    Sixers: A

    Like the rest of the experts, Bleacher Report gave the Sixers high marks on acquiring Brown, with a focus on how he can fit with Embiid.

    “This is a big swing for a team that can compete for a conference finals berth if Joel Embiid is healthy in the playoffs,” the Bleacher Report NBA staff wrote. “And having an innings eater like Brown should make it easier to be very gentle with Embiid’s regular-season minutes.”

    Celtics: A

    The difference, however, between Bleacher Report and other outlets came in its viewing of the trade from Boston’s perspective, seeing their return as equal to what they traded away.

    “For the Celtics, things had clearly gotten untenable between Brown and the organization,” Bleacher Report wrote. “And getting multiple first-rounders for him, considering how widely accepted his future departure was, is good value.

    “Plus, though he’s entering his age-36 season, George can still be helpful in a complementary role next to Jayson Tatum (and will be more willing to be in that role).”

  • Venezuelan security guard pulled alive from building basement 8 days after twin quakes

    CATIA LA MAR, Venezuela — Rescuers pulled a 43-year-old security guard alive from a collapsed basement early Thursday, ending a grueling dayslong operation that became a symbol of hope after the devastation of twin earthquakes that struck Venezuela eight days earlier.

    Hernán Alberto Gil Flores emerged to safety atop a stretcher surrounded by helmet-clad rescue workers after being trapped since June 24 under rubble in the basement of the Galerías Playa Grande shopping center in the coastal town in La Guaira.

    Rescuers, who initially made contact with him over the weekend, worked for more than 100 hours to free him — navigating a highly unstable structure, torrential rain, and persistent aftershocks to tunnel down to the survivor.

    Teams carrying flags from around the world cheered as rescuers carried Gil Flores, wearing an oxygen mask and covered in an orange tarp, through throngs of people to an ambulance.

    One Chilean rescuer carrying his stretcher pumped his fist in joy. A group of men in red Costa Rican Red Cross uniforms embraced and laughed in relief. Others broke out into applause.

    “When we found him, he asked us not to tell his wife that he was alive, just in case he wouldn’t make it,” Costa Rican Red Cross rescuer Minyar Collado told the Associated Press, but she added “We were never going to leave him here.”

    The rescue was considered a small miracle cutting through a week of tragedy. By supplying Gil Flores with food and water while they excavated the concrete, rescue teams were able to keep him alive far longer than the 48- to 72-hour threshold most operations give to find survivors in disasters.

    Gil Flores, who worked as a night-shift security guard at the complex, was inside his small security cabin when the first violent tremor struck. While the surrounding concrete structure collapsed around him, his cabin held ground, shielding him from crushing debris and creating a vital pocket of air.

    A specialized team from the Costa Rican Red Cross first detected signs of life and established contact with him Sunday.

    His wife, Gusbimar González, told the AP that she grappled with despair for days before hearing that rescuers made contact.

    “When I learned he was alive, I saw a ray of light in the darkness,” she said. The couple has two children, ages 8 and 10.

    The operation was coordinated by an urban search and rescue team of Chilean firefighters, who worked around the clock with specialized teams from the United States, Portugal, Mexico, Costa Rica, El Salvador, and Venezuela.

    Acting Venezuelan President Delcy Rodríguez celebrated the rescue on social media at a time that her government has come under fire for what many Venezuelans say has been an inadequate crisis response.

    “We celebrate the greatness of humanity, when it is united for a single purpose: to save another. Thank you to our rescuers and to the support of the international rescuers,” she wrote on a post on X.

    Teams used a telescopic camera to help maintain constant contact with Gil Flores, passing water and liquid nutrients through a narrow shaft to keep him hydrated during the final three days of the rescue.

    María Paz Campos, a veteran firefighter from Chile, talked him through the entire operation and kept him calm during the final excruciating hours Thursday.

    In a video published by Chilean firefighters in the hours before the rescue, Gil Flores is seen drawing, seemingly to pass the time. Campos then gently tells him to look at the camera and to wear protective goggles.

    “I need you to keep the goggles on, for the small particles that are falling, to avoid them getting into your eye,” Campos told the Venezuelan survivor.

    The collapse of the building was triggered by two back-to-back earthquakes on June 24 that registered magnitudes of 7.2 and 7.5, respectively. The shallow, violent tremors damaged or destroyed tens of thousands of buildings across northern Venezuela, killing more than 2,200 people, injuring over 11,000 and leaving La Guaira state as the hardest-hit region in the country.

  • Don Mattingly not bothered that Zack Wheeler was upset by his decision: ‘The great ones never want to come out’

    Don Mattingly not bothered that Zack Wheeler was upset by his decision: ‘The great ones never want to come out’

    Phillies interim manager Don Mattingly said Thursday that he hasn’t spoken to Zack Wheeler about his postgame comments from the night before.

    But he also isn’t bothered that Wheeler was upset. Wheeler was direct about his frustration at being removed from his start against the Pirates on Wednesday after 4⅔ innings with an 8-3 lead, leaving two runners on base for Kyle Backhus. The righty was at 104 pitches on a hot day, matching a season high, but said he felt he had earned the chance to finish the fifth inning.

    “I was upset,” Wheeler said postgame.

    Since he departed with two outs in the fifth, he was ineligible to get credit for what ultimately was a 10-6 win.

    “I don’t think he wants to talk to me yet. Maybe he’ll settle down, and we’ll talk a bit later,” Mattingly said pregame Thursday. “I haven’t had a chance to talk to him yet. I mean, it really doesn’t bother me at all that he’s upset. I think the great ones never want to come out of the game, and he’s no different.”

    Mattingly compared managing Wheeler to managing the Dodgers’ Clayton Kershaw, who he said similarly never wanted to be taken out. In this situation, his justification for removing Wheeler in that moment was to protect the rotation as a whole.

    Zack Wheeler gave up four runs against the Pirates and was pulled from the game with two outs in the fifth inning on Wednesday.Elizabeth Robertson / Staff Photographer

    “Our rotation is obviously a great rotation, but the depth of it is not filled with four Paul Skenes down in the minor leagues ready to pop in and fill the spot,” Mattingly said. “So my job is to make sure that this guy stays available through the course of the season, and we’ve got a long way to go. So I really don’t mind guys being upset, that’s what the greats do, but I still have to make decisions for the whole club.”

    Mattingly was concerned that the next batter, Pirates center fielder Jake Mangum, would work a long at-bat, driving up Wheeler’s pitch count even further. Pittsburgh had already fouled off 20 of Wheeler’s pitches on Wednesday.

    Backhus took over and hit Magnum with a pitch. He also hit the next batter to force in a run charged to Wheeler.

    Mattingly said the fact that Wheeler was one out away from becoming eligible for his ninth win of the season did not factor into his decision. Wheeler, whose ERA crept up to 2.36 after Wednesday’s start, has been forthright about his ambition to win a Cy Young Award.

    “I think more about the situation that we’re in as a club. I think it probably helps that nowadays wins aren’t really a big thing anymore,” Mattingly said. “It used to be that you’d let that guy try to finish it. And in a different time, you may be letting the guy throw 130 [pitches], but that’s not the time we’re in. That’s not the situation that we’re in right now.”

    Phillies manager Don Mattingly said of Zack Wheeler: “I really don’t mind guys being upset, that’s what the greats do, but I still have to make decisions for the whole club.”
    Elizabeth Robertson / Staff Photographer

    Mattingly added that he doesn’t expect this frustration to linger. When things cool off, he wants to discuss the move with Wheeler, but it also won’t change how he manages.

    “I want to know his feelings on it, and all that stuff, but I’m still making the decision based on the club and the team and moving forward, where we want to go,” Mattingly said. “So I don’t mind him hearing my side of it. I don’t mind hearing his side of it, and, again, just have to deal with being mad about it or doesn’t like it. I understand it, but I still have to do what I have to do.”

    Extra bases

    Brad Keller (right forearm tendinitis) is scheduled to start a rehab assignment Friday with triple-A Lehigh Valley in Rochester, N.Y. … Following Friday’s off day, Jesús Luzardo (6-4, 3.88 ERA) is scheduled to start the series opener against the Kansas City Royals on Saturday.

  • Police are searching for a man who shot and killed two men and injured a third near Hunting Park Rec Center

    Police are searching for a man who shot and killed two men and injured a third near Hunting Park Rec Center

    Police have identified a man who they say shot and killed two men near the Hunting Park Recreation Center within days last month and shot and wounded a third man in May in what investigators believe are linked crimes.

    Jahylin Melchur, 21, is wanted in connection with two homicides and the shooting near the large North Philadelphia park, according to police.

    He is accused of killing 45-year-old Martin Higgins in the park on June 20. Officers found Higgins on the bleachers of the baseball field around 10 p.m. that evening suffering from a gunshot wound to the torso, police said. He was pronounced dead at the scene.

    Less than a week later, police said, Melchur shot and killed 29-year-old Sharef Holman not far from where Higgins was killed.

    Officers responded there on June 26 just before 11 p.m. and found Holman suffering from multiple gunshot wounds near the basketball courts. He was taken to Temple University Hospital, where he died a short time later.

    And on May 29, investigators said, Melchur shot a 55-year-old man in Juniata Park, about two miles from the recreation center. The victim told police Melchur had attempted to rob him before shooting him in the elbow and torso.

    Police are seeking the public’s help in finding Melchur, who they say is considered armed and dangerous and whose image, captured on surveillance footage at a Broad Street Line station, was circulated widely last week in an effort to locate him.

    Law enforcement sources said the victims were found partially clothed, and that they were looking into whether they had met the suspect through a dating app.

    Deputy Police Commissioner Frank Vanore declined to address that aspect of the investigation in a news conference last week and said police were looking into whether the incidents were related to robberies.

    Who were the victims?

    Sharef Holman’s loved ones said the 29-year-old lived a life of faith and compassion, and that he was the life of any party he attended.

    His mother, Danielle, said her son was beloved on both sides of his large family.

    “He was tall in stature, and the children in our family loved to climb him,” she said. “The reason why I start there is because Sharef had a heart for the youth.”

    Sharef Holman, a 29-year-old man who was shot and killed near the Hunting Park Recreation Center in June.Danielle Holman

    Holman, who was born in Philadelphia and graduated from Samuel Fels High School in Crescentville, loved playing the saxophone and dancing, his mother said. He excelled in his school’s musical theater program, and once played Ebenezer Scrooge, the lead role in A Christmas Carol.

    He had most recently worked at The Belvedere nursing home in Chester, where he assisted residents with recreational programs, and he tutored schoolchildren with the Greenhouse Project, a nearby Christian nonprofit.

    For a time, his mother said, Holman struggled with drug addiction, and she remembers the pride she felt when he graduated from a rehab program two years ago.

    “He had been fighting addiction for some years, and this last one was the one where he was the most successful,” she said, adding that her son’s progress allowed him to get an apartment of his own.

    Danielle Holman said she and her family are planning a celebration of her son’s life this weekend. As they prepare to honor and remember him, she said, they hope police will find and bring their son’s killer to justice.

    The family of Martin Higgins, who was shot and killed days before Holman, declined to be interviewed as they deal with their loss.

    Higgins, 45, was a graduate of Temple University’s business school and worked as an inspector for the city’s Community Life Improvement Program, according to his obituary.

    He had a “kind heart, generous spirit, and unwavering support for those he loved,” the obituary said, and he “was the person who showed up when someone needed him, always making time for family and friends no matter what was going on in his own life.”

    Police ask that anyone with information about Melchur contact the homicide unit at 215-686-3334 or submit an anonymous tip by calling 215-686-TIPS (8477).