Business
Trump Will Be First Ex-President On Criminal Trial. Here’s What To Know About The Hush Money Case
NEW YORK — Opening the hush money case on Monday, with jury selection, is Donald Trump, who will become the first former president to face criminal charges.
The case would require the presumed Republican presidential nominee to balance weeks of court appearances in Manhattan to defend himself against accusations of marital infidelity that surfaced during his 2016 first campaign for president.
It is the only one of the four criminal charges against Trump that might result in a decision before voters decide in November whether to return him to the White House, and it has significant political repercussions.
The following information pertains to the charges against Trump and the hush money case:
The former president is charged with fabricating internal Trump Organization documents as part of a plot to suppress negative news that he believed would harm his candidacy in 2016. This accusation is especially serious given that, at the time, Trump’s remarks about women were negatively impacting his reputation.
The allegations center on payments made to two women who claim to have had extramarital affairs with Trump years ago: porn star Stormy Daniels and Playboy model Karen McDougal. Another person who claims to have information regarding a kid he believes Trump may have fathered out of wedlock is a doorman at Trump Tower. Trump claims that none of these reported sex dates are real.
The National Enquirer supermarket tabloid’s publisher paid McDougal $150,000 and Daniels $130,000 thanks to Trump’s former fixer and lawyer, Michael Cohen. This is part of a dubious journalistic practice known as “catch-and-kill,” in which a publication pays for exclusive rights to someone’s story with no intention of publishing it, either as a favor to a celebrity subject or to gain leverage over the person.
AP News – VOR News Image
Trump Will Be First Ex-President On Criminal Trial. Here’s What To Know About The Hush Money Case
Cohen was paid incentives and additional payments by Trump’s company, according to the prosecution, and all of these payments were fraudulently recorded in Trump Organization records as legal fees. Cohen has separately entered a guilty plea to breaking federal campaign finance law in relation to the payments.
Thirty-four felony counts of manipulating business records are brought against Trump. The charge carries a maximum four-year prison sentence; however, the judge will ultimately decide whether or not he serves time in prison if found guilty.
The counts are connected to many checks issued to Cohen as payment for his assistance in clearing Daniels’ debt. These payments, spread over a year, were noted in several internal business documents as legal costs.
Prosecutors must prove that Trump intended to commit or hide a second crime in addition to falsifying or causing business records to be filed falsely, which would be a misdemeanor, to prevail on the felony accusation.
Although the additional offense was not included in Trump’s indictment, Manhattan District Attorney Alvin Bragg has subsequently stated that evidence indicates his activities were intended to hide tax and campaign finance violations on both a state and federal level. Some experts say it’s an unconventional legal tactic that can backfire.
Judge Juan M. Merchan will summon a large number of people into his courtroom to start the process of selecting 12 jurors plus 6 alternates. The goal is to exclude candidates who cannot serve due to suspected prejudices or other reasons. Before sending groups of the remaining jurors into the jury box to answer 42 questions, the judge stated that he would excuse anyone who showed by a show of hands that they could not serve or be fair and impartial. The only way potential jurors will be identified is by number since the judge has mandated that only prosecutors, Trump, and their legal teams will be aware of their identities.
AP News – VOR News Image
Trump Will Be First Ex-President On Criminal Trial. Here’s What To Know About The Hush Money Case
Potential jurors will be questioned about a variety of topics, including whether they follow the former president on social media, whether they have ever worked for a Trump organization or attended a rally, and whether they support or follow far-right organizations or groups like the Proud Boys and Oath Keepers, whose members were part of the pro-Trump crowd that stormed the U.S. Capitol on January 6, 2021, or the far-left group known as Antifa, which stands up to fascists and neo-Nazis, especially during demonstrations.
Given that he was the one who oversaw the payoffs, Cohen—a former Trump supporter turned critic—is anticipated to be a crucial prosecution witness. Cohen stated that his objective was “to tell the truth” and that he is not seeking retribution, but he did state that Trump “needs to be held accountable for his dirty deeds” before testifying before the grand jury that delivered the indictment last year. After entering a guilty plea in 2018 to federal charges involving violations of campaign finance laws for orchestrating the payments to Daniels and McDougal, Cohen was sentenced to prison.
Daniels, whose real name is Stephanie Clifford, is one of the other anticipated witnesses. Daniels claims that in 2006, she had an unwanted but consenting sexual encounter with Trump. Trump claims it never took place.
Trump has blasted the lawsuit as an attempt to harm his chances of winning the presidency in 2024 and denied any wrongdoing. Trump has admitted to paying Cohen back and stated that the purpose of the payment was to prevent Daniels from disclosing the alleged encounter to the public. However, Trump claimed in 2018 that it was unrelated to the campaign.
It is probable that the legal team representing Trump would attempt to discredit prosecution witnesses like Daniels and Cohen to attack the case. In an attempt to circumvent the judge’s gag order, Trump called the two of them liars. This aims to reduce the president’s divisive remarks regarding the case. To try to convince jurors that Cohen cannot be believed, Trump’s attorneys are anticipated to portray Cohen as a con man and bring up his conviction for several federal offenses in addition to his disbarment.
Recently, Trump shared a photo of Daniels’s 2018 written statement on social media, in which she denied having a sexual relationship with him. Daniels quickly denied making the claim and admitted to having a sexual encounter. She claimed that a non-disclosure agreement was the reason for her denials and that she felt compelled to sign the statement because the individuals concerned “made it seem like I had no choice.”
AP News – VOR News Image
Trump Will Be First Ex-President On Criminal Trial. Here’s What To Know About The Hush Money Case
Due to court battles and appeals, Trump’s three other criminal matters will likely remain unsettled until after the November election.
Special Counsel Jack Smith’s 2020 election interference case is still pending, as President Trump continues to argue that his conduct inside the White House exempts him from prosecution. The US Supreme Court is expected to hear arguments on the case in late April.
In his other lawsuit, Smith is accused of illegally keeping secret documents at his Mar-a-Lago residence. Although the trial was supposed to start in May, the court still needs to set a new trial date after hearing arguments last month.
The Georgia lawsuit, which charges Trump and his associates of plotting to reverse their loss in the state’s 2020 election, has to schedule a trial. Lawyers are now asking an appeals court to examine whether Fulton County District Attorney Fani Willis should be removed from the prosecution due to a romantic relationship she had with a former top prosecutor who withdrew from the case, despite the prosecution’s suggestion that the trial takes place in August.
Trump has entered a not guilty plea in all three cases and maintained his innocence.
SOURCE – (AP)
Telsa second-quarter profit fell more than 40% from the previous year as the electric car business faced more EV competition from established automakers and a slowing in global EV sales growth.
The decline in income is a dramatic contrast to a corporation that developed to become the world’s most valuable automobile based on rising sales and profitability.
The findings highlight how Tesla, a pioneer in introducing electric vehicles to American drivers, is now facing more domestic and international competition. And as the EV market matures, customer interest in EVs has declined.
Tesla | Auto Guide
Tesla Stock Tumbles After Its Profit Plunged
Tesla (TSLA) shares plunged almost 12% on Wednesday morning, pushing down the broader market. Tesla’s stock was down roughly 1% this year through Tuesday’s close after plunging as much as 44% earlier in the year.
Tesla announced adjusted earnings of $1.8 billion in the quarter or 52 cents per share. Analysts expected 61 cents per share earnings, down from 91 cents the previous year. Its crucial profit margin fell substantially as a series of EV price cuts took its toll.
From April to June, the company had its second consecutive quarter of year-over-year sales decreases and its first consecutive quarter of dropping sales volume. Tesla’s only previous quarterly sales decline since going public occurred early in the pandemic when stay-at-home orders caused its plants to close.
Tesla did not provide a new sales target for the full year. However, it stated: “In 2024, our vehicle volume growth rate may be notably lower than the growth rate achieved in 2023.”
On the investor’s call following the announcement, Tesla CEO Elon Musk criticized the quality of EVs produced by other manufacturers, claiming that it was simply a short-term issue for Tesla and not a long-term one. He added that Tesla is still persuaded that the world is going towards fully electric transportation systems, not just for automobiles, planes, and ships.
Musk also stated that the business would provide more information on fully automated robotaxis in October rather than August as initially intended. The business calls its driver assistance feature “Full Self Driving,” but drivers must still be prepared to take control of the vehicle. According to the company’s earnings statement, Tesla still confronts regulatory and technical challenges before offering self-driving cars.
Musk stated that he still believes it is possible to reach by the end of this year and certainly by next year, but cautioned: “My predictions on this have been overly optimistic in the past.”
Tesla | Top Gear Image
Tesla Stock Tumbles After Its Profit Plunged
The company faces government probes into several of Musk’s boasts about Full Self-Driving capabilities. The company has also been the subject of a Department of Justice investigation, though it is unclear what the current situation is.
However, he disclosed that Tesla’s plans to build an assembly factory in Mexico had been placed on hold. The plans were disclosed more than a year ago, but Musk said they have been halted until after the presidential election due to Republican contender Donald Trump’s vow to impose taxes on Mexican-imported vehicles. Musk is a big Trump booster, having endorsed him and reportedly pledged tens of millions of dollars to the former president’s re-election campaign. Trump promised comparable duties on Mexican-made autos in 2019 but has yet to follow through.
SOURCE – CNN
(VOR News) – Over the Bitcoin course of the last twenty-four hours, the sum of money that has been liquidated in short positions for Bitcoin BTC +4.71% has increased to more than $34 million.
This is a significant increase from the previous state of affairs. The fact that Bitcoin, the digital asset with the highest market capitalisation, has broken beyond the barrier of $67,000 is the reason for this new development.
Nashville, Tennessee will host this year’s Bitcoin Conference.
According to the website of the conference, the former president of the United States is set to make an appearance on the Nakamoto Stage on July 27 at 2:00 p.m. Central Time for a session that will last thirty minutes.
This information is indicated on the website. Yesterday, on the final day of the conference, the session is scheduled to take place.
As a direct result of the increase in the price of bitcoin that took place during the course of the previous day, a total of holdings representing a value of 54 million dollars were sold off.
As a consequence of the increased volatility of the market, the cryptocurrency market as a whole went through liquidations that amounted to more than two hundred million dollars within the same time period. This is evidenced by the data that were provided by Coinglass.
The information that is provided by The Block’s Bitcoin Price Page reveals that the current value of Bitcoin is around $67,330 at the time that this article is being written and published.
This information is provided by The Block. Over the course of the past twenty-four hours, there has been an increase that is greater than five percent.
President Trump will invest in bitcoin by 2024.
Because of the keynote presentation that he will deliver at Bitcoin 2024, Donald Trump will create history by becoming the first candidate for the presidency of the United States of America to visit a conference of this kind that is sponsored by the industry.
This will be something that he will accomplish by attending Bitcoin 2024. In spite of the fact that there is a little amount of information available concerning the specifics of his discussion, the organisers have already claimed that it will be “historic.”
Throughout the course of his presidency, President Trump has adopted a variety of perspectives about a wide range of cryptocurrencies, including bitcoin and others from the same category.
He voiced his disapproval of cryptocurrencies on Twitter in July 2019, saying, “I am not a fan of bitcoin and other cryptocurrencies, which are not money and whose value is highly volatile and based on thin air.”
He was referring to the fact that certain cryptocurrencies are not money. His hatred for these cryptocurrencies has been made clear in his statements.
Specifically, he expressed his discontent with the bitcoin market.
Which was the subject of his expression. This viewpoint was reiterated by him in 2021, when he gave an interview to Fox Business in which he referred to the digital asset as a hoax and voiced his concern that it may compete with the United States dollar or other currencies. In addition, he expressed his concern that it could be used to compete with other currencies.
Nevertheless, throughout the course of the last six months, Trump has rebuilt himself as the “crypto president.” The fact that he chose Ohio Senator JD Vance, who is an investor in bitcoin, to be his vice presidential candidate lends credence to the notion that a Donald Trump presidency may be advantageous to cryptocurrencies.
This is an extra point of interest that is worth mentioning. Bitcoin is an investment that Vance has made.
During the course of the previous day, the dominance of Bitcoin increased slightly to 52.8%, as indicated by the data that were provided by Coingecko. On the other hand, the dominance of ether decreased slightly to 15.5%.
Indicative of the fact that Bitcoin’s dominance rose, both of these data are indicative of reality. After reaching its highest position, the GM 30 Index, which is comprised of a selection of the top 30 cryptocurrencies, witnessed a climb of 3.08% within the same time period, hitting 133.99.
This was after the index had reached its highest peak.
SOURCE: TBN
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(VOR News) – Sanstar shares made a quiet Dalal Street debut on Friday, which was less than market participants had anticipated as a consequence of their expectations.
However, the number of buyers rose significantly following the stock’s listing, suggesting that investors are interested in purchasing the company at reduced prices.
At Rs 109 per share, Sanstar shares were offered on the National Stock Exchange (NSE) at a premium of approximately 15%. The stock was listed on the Bombay Stock Exchange (BSE) at a premium of 12 percent over the issue price of Rs 95 per share.
Nevertheless, the stock attained a price of Rs 127.68, achieving a 20% upper circuit and bringing the cumulative profits to 34.4 percent over the price at which it was initially issued.
The majority of analysts continue to maintain a positive outlook on the company and suggest that investors remain invested in the stock for a period of time that varies from medium to long term.
On the other hand, there are some experts who suggest that investors record profits after achieving a respectable profit during the initial trading session.
A successful initial public offering (IPO) was achieved by Sanstar
The company’s shares are currently trading at Rs 109 per share, an increase of 15% from their issue price of Rs 95.
This performance is positive, according to Shivani Nyati, Head of Wealth at Swastika Investmart; however, it fails to satisfy the expectations that were established prior to the listing. The broader market volatility that ensued subsequent to the budget’s announcement was a contributing factor.
Sanstar has been listed, which is a fantastic development, despite the fact that it did not meet the initial hype.
The company’s future expansion is supported by the interest of investors and the company’s robust foundations. Investors have the option to maintain their stake at the issue price, according to her.
Sanstar’s initial public offering (IPO) had the potential to be subscribed between July 19 and July 23, as the business issued its shares at a price range of Rs 90-95 per share, with a lot size of 150 shares.
Sanstar’s follow-on offering yielded a total of Rs 510.15 crore in revenue. This offering comprises a wholly new share sale of up to 397.10 equity shares and an offer-for-sale of up to 1.19 crore equity shares.
Sanstar got a 15% premium because of demand.
Which contributed to the company’s successful launch on the bourses today. According to Prathamesh Masdekar, Research Analyst at StoxBox, Sanstar has established enduring relationships with its consumers and currently serves more than 525 customers, with 162 new customers joining during fiscal year 24.
“The company is committed to expanding its customer base by leveraging the relationships it has established with customers in India and around the world, while simultaneously actively seeking out opportunities to establish new relationships.
“”Because of this, we recommend to the market participants that they keep the shares for a period of time ranging from the medium to the long term,” according to him.
A total of 82.99 subscriptions were received from consumers worldwide for the Sanstar issue. The quota for qualified institutional vendors (QIBs) was satisfied 145.68 times during the auction.
A remarkable 136.50 percent of the quota that was designated for non-institutional investors was subscribed to. The portions that were specified for retail investors were only subject to requests for bids 24.23 times during the three-day bidding procedure.
Sanstar’s listing was lower than anticipated, despite the fact that markets were trending upward. Prashanth Tapse, Senior Vice President of Research at Mehta Equities, maintains that designated investors should record profits on the day of listing, despite the market’s optimistic outlook.
Compared to other listed peers, Sanstar’s valuations are a little higher.
Sanstar is a manufacturer in India that specialises in the manufacturing of plant-based products and ingredient solutions for industrial products, pet food, and food.
Pantomath Capital Advisors served as the exclusive book-running lead manager for Sanstar’s initial public offering (IPO), while Link Intime India served as the registrar.
According to Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, the market volatility in the Indian markets resulted in Sanstar shares failing to meet pre-listing expectations. Sanstar shares were listed on the National Stock Exchange (NSE) at a price of Rs 109.
We strongly recommend that investors take profits in the near term following the completion of the listing. He continues, “It is advised that long-term investors maintain their positions in the company due to its strong fundamentals.”
SOURCE: BTN
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