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President-elect Donald Trump namedhedge fund mogul Scott Bessentas the next Treasury secretary on Friday, ending a rough-and-tumble race that saw fierce jockeying among power players across Wall Street.

I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States, Trump wrote in his announcement, posted on Truth Social.

Scott is widely respected as one of the World’s foremost International Investors and Geopolitical and Economic Strategists, the president-elect said of this Treasury pick.

Bessent “got the thumbs up” late Thursday during a meeting with Trump, 78, at his Mar-a-Lago resort in Palm Beach, Fla., one source close to the situation told The Post.

A flurry of last-minute media reports had floated several candidates for the job. Late Thursday, the Wall Street Journal reported that financier Kevin Warsh had met with Trump on Wednesday about the Treasury post — and possibly replacing Jerome Powell as Fed chairman when his term expires in 2026.

Trump also met about the Treasury role with Marc Rowan, the billionaire boss of buyout firm Apollo Global Management, at Mar-a-Lago earlier this week.

Bessent, the 62-year-old founder of Key Square Group, has repeatedly backed the president-elects pro-tariff stance in a series of op-eds and media appearances over the past year.

Scott’s story is that of the American Dream, Trump said Friday, noting that Bessent has long been a strong advocate of the America First Agenda.

On the eve of our Great Country’s 250th Anniversary, he will help me usher in a new Golden Age for the United States, as we fortify our position as the World’s leading Economy, Center of Innovation and Entrepreneurialism, Destination for Capital, while always, and without question, maintaining the U.S. Dollar as the Reserve Currency of the World, he added.

Unlike in past Administrations, we will ensure that no Americans will be left behind in the next and Greatest Economic Boom, and Scott will lead that effort for me, and the Great People of the United States of America.

A source close to the Trump transition team told the Post earlier on Friday that the hedge fund executive was “being vetted” for the role ahead of a formal announcement.

“If you want to bring a genius into that job who is loyal to the president, Scott is the right guy,” one source close to the situation said.

One faction of Trump World had been pushing for Bessent for weeks, trying to outmaneuver Howard Lutnick — the CEO of Cantor Fitzgerald and co-chair of Trump’s transition team — in what had reportedly escalated into a bitter “knife fight” for the coveted role.

One insider, speaking on condition of anonymity, said Lutnick, a fundraiser for Hillary Clinton during the 2016 election, was eventually handed the post of Commerce Secretary “to calm things down.”

After Lutnick exited the Treasury race, sources said Trump continued to do interviews to hash out his options. Bessent and Rowan were both spotted at Mar-a-Lago on Wednesday.

“All the top investors and hedge funds said Scott Bessent is their number one pick because of his understanding of macroeconomics,” said one veteran Wall Street insider.

A source briefed on Rowan’s interview, meanwhile, said the 62-year-old was “an anti-tariff guy and that was a non-starter for the president.”

Another staunch Trump loyalist and major donor, billionaire hedge fund boss John Paulson, ruled himself out of an administration post just one week after the Nov. 5 election.

A native of South Carolina, Bessent previously served as chief investment officer for George Soros and was instrumental in the Hungarian-born money man’s “Black Wednesday” trade in 1992.

The bet against the British pound “broke the Bank of England”, raking in an eye-watering $1 billion payday for Soros that cemented his reputation as a titan of global finance.

Writing in the Wall Street Journal earlier this month, Bessent said Trump’s second presidential term would usher in “a revitalized economy for all Americans.”

Bessent also lashed out at the Biden-Harris administration for presiding over four years of “reckless spending” that has seen Uncle Sam’s debt pile hit an eye-watering $35 trillion this year.

“The Biden administrations mismanagement has created serious challenges that Mr. Trump will need to overcome,” Bessent stated in the Nov. 10 op-ed, adding that Trump “has a mandate to re-privatize the US economy through deregulation and tax reform to spur the supply-side growth that he delivered in his first term.”

Large parts of Trump’s 2017 tax cuts expire next year, giving Bessent the chance to help shape fiscal policy under the incoming commander-in-chief.

My Administration will restore Freedom, Strength, Resilience, and Efficiency to our Capital Markets, Trumps announcement continued. We will reinvigorate the Private Sector, and help curb the unsustainable path of Federal Debt.

As a lifelong Champion of Main Street America and American Industry, Scott will support my Policies that will drive U.S. Competitiveness, and stop unfair Trade imbalances, work to create an Economy that places Growth at the forefront, especially through our coming World Energy Dominance, he added. Together, we will Make America Rich Again, Prosperous Again, Affordable Again, and, most importantly, Great Again!

The president-elect has already tapped Tesla titan Elon Musk and biotech entrepreneur Vivek Ramaswamy to lead a new Department of Government Efficiency and tighten up the federal government’s purse strings.

Diana Glebova contributed reporting.

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Korean man arrested over $50M crypto-to-gold laundering scheme

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Korean man arrested over M crypto-to-gold laundering scheme

Korean man arrested over M crypto-to-gold laundering scheme

Thai police have arrested a South Korean man accused of helping a call center gang launder over $50 million in crypto into gold.

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Environment

5 ways I use my Chinese electric mini-excavator that I didn’t expect

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5 ways I use my Chinese electric mini-excavator that I didn’t expect

When I first got my hands on a Chinese electric mini-excavator, I thought it would be a fun little machine for digging a few holes and moving some dirt around. What I didn’t expect was just how useful and versatile it would become – and how often I’d reach for it for jobs that I never initially planned on tackling with a compact electric digger.

As I’ve watched all the fun reporting on new electric excavators, I’ve looked on in envy at what the current state of the art is… if you’ve got a quarter million bucks burning a hole in your hefty pocket. They are amazing machines, but I feel like the kid sitting outside of the sandbox and looking in, never able to play with the toys myself. But as it turns out, as long as you don’t need a massive machine, a mini-electric excavator wound up offering me many of the same benefits.

These battery-powered machines are cleaner, quieter, and cheaper to run than their diesel counterparts, which is great. That’s exactly why I started with NESHER in the first place. But what really surprised me was how many odd jobs around my parents’ acreage my little NX2500 excavator managed to take over. Here are five unexpected ways I’ve been using my Chinese electric mini-excavator.

1. Trench digging for irrigation

This was actually one of the first “off-script” jobs I tackled. My parents needed to run some irrigation lines through their property for a new garden setup, and while I originally planned to help my dad out the old-fashioned way (with a trenching shovel and a lot of sweat), I had my first mini-excavator delivered only a month ahead of time, and the timing couldn’t have been more perfect.

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I figured, “Why not?” and before I knew it, I was carving clean, even trenches in a fraction of the time. What would’ve taken an entire weekend by hand was done in about an hour or two, and with zero back pain. It’s a perfect example of how machines like this can turn exhausting, sweaty work into something you actually enjoy.

That picture was taken only part way through… that trench kept going to more planters further out!

Ever since I hurt my back a few years ago, a part of my rude welcome to how the mid-30s feels quite different from the mid-20s, I’ve been a little more aware of the kind of stress I put on my body. While I’m still quick to grab a shovel when I need one, the thought of hand trenching all day with a shovel versus an hour in the operator’s chair was a no-brainer.

2. Tree planting made way easier

Planting one tree is no big deal. Planting 10? Or 20? That’s starting to become a project. Planting 50? That’s a whole day with a shovel – or just a couple of hours with the mini-excavator.

The machine makes short work of digging perfect-sized holes, whether you’re dropping in fruit trees, palms, or trying to reforest a bare section of land.

Digging a hole and dropping the spoils on the sled

In the beginning, there was some trial and error, but I’ve learned that you can fine-tune your technique to get the hole shape just right, so the trees don’t settle awkwardly or too deeply. It’s still manual labor in a sense, since those joysticks don’t work themselves, but it’s a lot less manual than working the shovel all day!

I also found that I can use a simple yard sled to load the spoils onto, then use the UTV to drag it away to the spoil pile elsewhere on the property. If you don’t have a dump truck or mini-truck around, a yard sled is a cool little way to move heavy things easily by dragging them around.

3. Mulch moving machine

I hadn’t originally planned on using the excavator for this one, but I had a big pile of mulch that needed to get loaded into the back of my mini-truck to bring over to a planting area. Instead of shoveling it by hand or using buckets, I figured I’d see how the excavator would handle scooping and dropping. And it worked beautifully.

Is it a perfect loader bucket? Not really. But it does save a lot of time and effort compared to doing it by hand. For loose materials like mulch, compost, or even sandy soil, it’s a no-brainer.

Wild that all three of these machines are electric! We’re living in the future…

I still generally prefer to go with one of my loaders for bulk material like this, but in a pinch, the excavator can move 4-5x the amount I can per shovelfull, and each pass is a heck of a lot less exhausting on me!

4. Grading around trees for a shipping container pad

Here’s one I definitely didn’t expect to work so well. I had an area near some trees where I wanted to drop a shipping container. The ground was a mess – uneven, root-covered, and just generally not flat enough for the container to sit level.

I figured I’d give the excavator a shot at scraping and grading the area flat, and with a little finesse, it worked surprisingly well. It took some careful passes, and I wouldn’t call it laser-level precision, but it was more than good enough to get the container settled evenly and safely.

I’ve since put a second container next to it and built a roof structure between them, so now I have a 40×10-foot (12×3-meter) covered parking area between two shipping containers. I’d say it worked quite well!

5. Hoisting and lifting logs (and other heavy stuff)

Now this one’s a bit outside the box – and outside the manual. These machines aren’t really designed for lifting heavy objects the way a larger excavator or crane is, but they’re surprisingly capable if you’re smart about it.

I’ve hoisted several hundred pounds with mine, like awkward loads or cut log sections. A lifting strap slung over the bucket makes it easy to mount weird-shaped things, and you just have to be careful about swinging around too quickly.

I added a manual thumb attachment, and that proved to be a real game-changer. I can now pick up logs and branches, spin them around, and drop them into the bed of the mini-truck like a tiny mobile crane. Again, one or two logs are easy enough to toss by hand. But when a tree or two comes down after a storm and there are 20 or 30 logs, my back is going to thank me for not trying to toss each one by hand.

Final thoughts

It’s easy to write off these Chinese electric mini-excavators as toys or underpowered knock-offs. But after putting on real-world use for everything from planting trees to loading mulch and lifting logs, I can say they’ve proven themselves. No, they won’t replace a full-size backhoe or dozer, but they’re not trying to. These things are for the small jobs – the ones that wear you out if you try to do them by hand and don’t justify calling in a pro crew. They’re for the homesteaders, not the contractors.

Add in the fact that they’re electric – so you can run them in a garage or barn without worrying about fumes –and you’ve got a pretty compelling machine for landowners, landscapers, hobby farmers, or anyone who wants a quiet, capable, compact helper.

They aren’t without their downsides. Run times are only between 4-6 hours, and the roughly 1 mph (0.6 km/h) walking speed is excruciatingly slow when you need to travel to the farther flung areas of the property. But at least they’re relatively quiet and vibration-free, not to mention emission-free, for that long traverse!

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Three people in a life-threatening condition after ‘arson attack’ at restaurant

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Three people in a life-threatening condition after 'arson attack' at restaurant

Three people are in a life-threatening condition after a suspected arson attack at a restaurant in Ilford, say police.

Five people – three women and two men – were injured in the fire, which broke out shortly after 9pm on Friday at Indian Aroma on Woodford Avenue, Gants Hill.

No arrests have been made.

Hospital porter Edward Thawe, 43, went to help with his son after hearing screams from his nearby home.

Woodford Avenue from above. Pic: UK News and Pictures
Image:
Woodford Avenue from above. Pic: UK News and Pictures

He described the scene as “horrible” and “more than scary and the sort of thing that you don’t want to look at twice”.

He said: “I heard screaming and people saying they had called the police.”

He said he saw a woman and a severely burned man who may have been customers.

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He said the man’s “whole body was burnt”, including his shirt, but he was still wearing his trousers.

After being treated at the scene by paramedics from the London Ambulance Service, the victims were taken to hospital.

Indian Aroma in Ilford after the fire. Pic: UK News and Pictures
Image:
Indian Aroma in Ilford after the fire. Pic: UK News and Pictures

Nine others were able to get out beforehand, London Fire Brigade (LFB) said in a statement.

“The brigade’s control officers received seven calls about the fire and mobilised crews from Ilford, Hainault, Leytonstone and Woodford fire stations to the scene. The fire was extinguished by 10.32pm,” said an LFB spokesperson.

“We understand this incident will cause concern within the community. My team of specialist detectives are working at speed to piece the incident together,” said Detective Chief Inspector Mark Rogers, of the Met’s Central Specialist Crime North unit.

“Locals can expect to see a large police presence in the area. If you have any concerns, please speak to those officers on the ground.”

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The London Ambulance Service told Sky News: “We sent resources to the scene, including ambulance crews, an advanced paramedic, an incident response officer and paramedics from our hazardous area response team.

Indian Aroma in Ilford after the fire. Pic: UK News and Pictures
Image:
Indian Aroma in Ilford after the fire. Pic: UK News and Pictures

“We treated five people for burns and smoke inhalation. We took two patients to a major trauma centre and three others to local hospitals.”

Health secretary Wes Streeting, who is the MP for Ilford North, posted on X to thank the emergency services for their response to the fire.

He also asked his constituents to “please avoid the area for now”.

Anyone with information is urged to contact the Met via 101, quoting 7559/22AUG. If you wish to remain anonymous, please speak with Crimestoppers on 0800 555 111.

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