NEW YORK (AP) — New York state attorneys and former President Donald Trump’s attorney resolved their differences Monday over a $175 million bail Trump posted to block a conviction in a civil fraud trial while he seeks an appeal.
The deal disrupted a potential day-long court hearing in Manhattan that was to feature witnesses.
As part of an agreement reached during a 20-minute recess, lawyers for Trump and Knight Specialty Insurance Company agreed to keep the $175 million in a cash account that will earn interest but faces no downside risk. So far, the account has increased by more than 700 thousand dollars.
The bond prevents the state from seizing Trump’s assets to satisfy the more than $454 million he owes after losing a court case brought by the Democratic state attorney general. She had alleged that Trump, along with his company and key executives, defrauded bankers and insurers by lying about his wealth.
The former president and virtual Republican presidential candidate rejects the accusations and appealed the sentence.
Judge Arthur Engoron, who issued the massive ruling in February after concluding that Trump and others had deceived banks and insurers by exaggerating their wealth in financial disclosures, presided over Monday’s hearing and at times got into a tense discussion with Trump’s lawyer. Trump, Christopher Kise.
Engoron challenged Kise with examples of how money Trump had deposited might not be available for collection if the ruling was upheld, prompting Kise to respond at one point that the judge’s “hypothesis is… wildly speculative.” .
At another point, Kise expressed frustration with New York prosecutor Letitia James, saying: “It seems like whatever we do they’re going to find fault with it.”
But Andrew Amer, a New York state attorney, proposed terms of the settlement shortly after he began speaking at the hearing. He said the state wanted additional guarantees because Trump had raised the money with the help of a relatively small out-of-state insurance company.
#Trumps #million #bail #civil #fraud #trial #resolved #promise
2024-04-24 04:46:49
Trump’s $175 million bail in NY civil fraud trial is resolved with promise
Tesla’s Future: Musk’s Promise of Affordable EV Sends Stock Soaring
About the Latest Tesla Earnings Report
Last Updated: Apr 23, 2024 at 9:27 pm ET
Tesla recently released its Q1 earnings report, revealing a significant decrease in both profit and revenue. MarketWatch provided a detailed analysis of the results, along with insights from Elon Musk, the CEO of Tesla. Musk emphasized that the company remains committed to developing a more affordable electric vehicle.
Key Highlights from Tesla’s Q1 Earnings
- The earnings report showed a notable decline in both profit and revenue for Tesla.
- MarketWatch’s analysis delved into the implications of these financial results for the company.
- Elon Musk reiterated Tesla’s intention to introduce a lower-cost electric vehicle in the future.
Implications for Tesla’s Future
The drop in profit and revenue raises questions about Tesla’s financial performance and market position. Analysts are closely monitoring how the company plans to address these challenges and maintain its competitive edge in the electric vehicle industry.
Elon Musk’s Vision for Tesla
Despite the disappointing financial results, Elon Musk remains optimistic about Tesla’s future. He believes that the development of a more affordable electric vehicle will help expand the company’s customer base and drive long-term growth.
Looking Ahead
As Tesla navigates through this period of financial uncertainty, all eyes are on the company’s next steps. Investors, analysts, and consumers are eager to see how Tesla will innovate and adapt to changing market dynamics.
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Tesla’s Future: Musk’s Promise of Affordable EV Sends Stock Soaring
TERA Stock Surges 122.86% on First Trading Day: Analysis and Fundraising Objectives
Stock news 10:02 AM 2024-04-24
TERA opened its first trading day at 3.90 baht, up 2.15 baht or 122.86% from the IPO price of 1.75 baht.
Globelex Securities said in its analysis that Terabyte Plus Public Company Limited (TERA) IPO price 1.75 baht, CONsensus reasonable price 2.70 baht
TERA operates the business of distributing IT equipment. and provides integrated information technology infrastructure systems in 2021-23 equal to 391 million baht, 555 million baht, and 599 million baht (+8% YoY), respectively The main reason is that the company has increased income from providing services. Increase from 1) Revenue from cloud services from ongoing customer contracts and new customers that increase the demand for using the cloud system from the Local Cloud and Public Cloud 2) Revenue from M/ A services increased, which corresponds to the number of customers from On -Premise Hardware Sales which continues to increase. Makes it possible to sell more A/G 3) Revenue from software services increases from existing customers who purchase additional software licenses and new customers, and 4) Revenue from system installation services increases. This is because the company received sales and installation work from a major customer in 2023.
The 2021-2023 operating results had net profit of 19 million baht, 26 million baht, and 29 million baht (+12% YoY), respectively, as a result of lower selling costs. Although the company has costs associated with listing the company on the stock exchange. namely One-time expenses
TERA offers IPO shares of no more than 90 million shares, representing no more than 37.50% of the total number of shares. The par value is 0.50 baht per share, with the IPO price calculated as a historical P/E of about 14.50 times, compared to the P/E of companies with similar business operations, including ILINK 12.7x, GABLE 11.9 x, SIS 13.5x , SRS 16.70x
Fundraising objectives: 1) Invest in the Cloud system 2) Invest in related businesses that have the potential to support the growth of the company 3) Working capital in the business
By InfoQuest News Agency (24 April 2024)
Tags: TERA , Thai stocks , Terabyte Plus
#TERA #opens #day #trading #baht #rising #order #InfoQuest
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TERA Stock Surges 122.86% on First Trading Day: Analysis and Fundraising Objectives