The creator behind the AI artist Xania Monet, Telisha “Nikki” Jones, spoke with “CBS Mornings” amid the controversy regarding the rise of AI-generated music. Jones said she wants people to know there’s a real person behind Xania and “real emotion and soul put into those lyrics.” “CBS Mornings” co-host Gayle King reports.

Cambodia has reached a milestone in global finance by becoming one of the first countries to accept China’s offer to repatriate its foreign gold reserves, marking an early victory in Beijing’s campaign to establish itself as a key center in the world bullion market.

Experts stated that the Southeast Asian country will deposit part of its reserves in a vault registered at the Shanghai Gold Exchange, located in a bonded zone in Shenzhen. 

As reported by Bloomberg, other countries have also shown interest in this initiative.

The move is a strategic one towards China, aiming to rival the dominance of the past by traditional gold storage centres such as London and New York. 

This step of attracting foreign sovereign gold will enable China to increase the liquidity and international credibility of its financial markets and facilitate the adoption of the yuan as a medium of trade and reserve in the world markets.

In the case of Cambodia or other countries that might be partners, the relocation is an opportunity to diversify their assets of value. 

The hoarding of gold in China would be seen as a means of developing warmer economic relations with the world’s second-largest economy and an influential regional power.

Although the actual volume of gold that Cambodia will send has not been announced, the deal is a significant stamp of approval of the Chinese financial system. 

Over the past few years, the Shanghai Gold Exchange has expanded rapidly to become the largest physical gold market in the world.

It will most likely be closely followed by the central banks and finance ministries of other countries, as it might prompt them, especially in Asia and China’s Belt and Road Initiative (BRI) partners, to consider similar arrangements. 

This change, though slow, is an indication of a gradual, progressive geographical rebalancing of financial power around the world.

In a landmark election that drew attention worldwide, Zohran Mamdani has secured victory in the New York City (NYC) mayoral race.

However, the win of Mamdani immediately got clouded by a threat from President Donald Trump to withhold federal funds from the city.

The 34-year-old democratic representative and state assemblyman from Queens will be the city’s first millennial and Muslim mayor having South Asian descent.

He won against independent former Governor Andrew Cuomo and Republican Curtis Sliwa. The 2025 NYC mayoral election also observed the highest participation since 1969.

But the celebratory mood at Mamdani’s Brooklyn headquarters was tempered by the looming political confrontation with the White House.

Just hours before, President Trump intensified his attacks on the Mamdani, whom he has repeatedly labelled as a “communist.”

While posting on his Truth Social platform, the 47th U.S. The President wrote, “If Communist Candidate Zohran Mamdani wins the Election for Mayor of New York City, it is highly unlikely that I will be contributing Federal Funds… because of the fact that, as a Communist, this once great City has ZERO chance of success, or even survival!”

He previously also hinted at this move stating that it would be difficult to send federal money to a city run by a “communist” during a 60 Minutes interview.

Responding to the looming threat, Mamdani directly addressed the elephant in the room saying, “If anyone can show a nation betrayed by Donald Trump how to defeat him, it is the city that gave rise to him.”

“So Donald Trump, since I know you’re watching, I have four words for you: ‘Turn the volume up,” he said enthusiastically.

Responding to Mamdani’s win, Trump initially responded on Truth Social briefly, “…AND SO IT BEGINS!”

Can Trump legally withhold any city’s federal funds?

The President’s claim of withholding federal funds of NYC raises serious legal and constitutional questions.

According to the U.S. Constitution, the power of the purse lies with Congress, not the President.

According to Article I section 9, clause 7, “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law; and a regular Statement and Account of the Receipts and Expenditures of all public Money shall be published from time to time.”

Additionally, in the US constitution, the 1974 Impoundment Control Act specifically limits the president’s power to withhold funds after President Richard Nixon previously attempted to do so.

Titles I through IX of the law are known as the Congressional Budget Act of 1974. Title II created the Congressional Budget Office.

Title III governs the procedures by which Congress annually adopts a budget resolution, a concurrent resolution that is not signed by the president, which sets fiscal policy for the Congress.

This budget resolution sets limits on revenues and spending that may be enforced in Congress through procedural objections called points of order. The budget resolution can also specify that a budget reconciliation bill be written, which the Congress will then consider under expedited procedures.

What funding is at stake?

Federal funding plays a crucial role in the development of New York City.

According to the recent New York State Comptroller report, the city is set to receive $7.4 billion in federal funds for fiscal year 2026, accounting for 6.4% of its total budget.

This funding contributes to support housing, social services, and programs like Temporary Assistance for Needy Families (TANF).

Previously, Trump administration blocked a $12 million grant for the NYPD’s subway counterterrorism efforts.

The city is currently challenging that decision in court.