Attorneys for President-elect Donald Trump filed a request Tuesday, as expected, asking New York Supreme Court Judge Juan Merchan to dismiss the hush money case against Trump despite the guilty verdict delivered in May. The lengthy filing comes after Merchan indefinitely delayed Trump’s sentencing date last month, following his reelection, as sitting presidents cannot be prosecuted. Trump’s sentencing had already been pushed back several times due to the Supreme Court’s landmark decision expanding presidential immunity. Trump’s lawyers cited President Joe Biden ’s recent decision to pardon his son to argue that Trump, like Hunter Biden, was “selectively, and unfairly, prosecuted” and “treated differently.” “Since [Manhattan District Attorney Alvin] Bragg took office, he has engaged in ‘precisely the type of political theater’ that President Biden condemned,” Trump’s filing read. “This case would never have been brought were it not for President Trump’s political views, the transformative national movement established under his leadership, and the political threat that he poses to entrenched, corrupt politicians in Washington, D.C., and beyond.” A jury of New Yorkers found Trump guilty on all 34 felony counts in a case that revolved around a $130,000 payment to the porn actor Stormy Daniels made in the days leading up to the 2016 presidential election. The payment was wired by Trump’s personal attorney at the time, Michael Cohen, who was subsequently reimbursed in monthly installments over a period of around a year. Bragg’s office successfully argued that the repayment scheme constituted falsified business records, as the expense was described as legal services instead of a payment intended to influence an election. But the Supreme Court’s July ruling on presidential immunity threw a wrench into the case. Trump’s attorneys asked for more time to figure out how the ruling applies to the charges against Trump, who was in the White House during the period of time he was signing checks reimbursing Cohen. The high court decreed that presidents are immune from criminal prosecution for all official actions taken as part of the duties of their office. Don't let this be the end of the free press. The free press is under attack — and America's future hangs in the balance. As other newsrooms bow to political pressure, HuffPost is not backing down. Would you help us keep our news free for all? We can't do it without you. Can't afford to contribute? Support HuffPost by creating a free account and log in while you read. You've supported HuffPost before, and we'll be honest — we could use your help again . We view our mission to provide free, fair news as critically important in this crucial moment, and we can't do it without you. Whether you give once or many more times, we appreciate your contribution to keeping our journalism free for all. You've supported HuffPost before, and we'll be honest — we could use your help again . We view our mission to provide free, fair news as critically important in this crucial moment, and we can't do it without you. Whether you give just one more time or sign up again to contribute regularly, we appreciate you playing a part in keeping our journalism free for all. Already contributed? Log in to hide these messages. “Wrongly continuing proceedings in this failed lawfare case disrupts President Trump’s transition efforts and his preparations to wield the full Article II executive power authorized by the Constitution pursuant to the overwhelming national mandate granted to him by the American people on November 5, 2024,” Trump’s attorneys argued. While Bragg did not object to Merchan canceling Trump’s most recent sentencing date, he indicated he would fight the attempt to completely dismiss the case. Related From Our Partner
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In the current market session, Automatic Data Processing Inc. ADP stock price is at $304.09, after a 0.16% drop. However, over the past month, the company's stock went up by 6.49% , and in the past year, by 33.82% . Shareholders might be interested in knowing whether the stock is overvalued, even if the company is not performing up to par in the current session. A Look at Automatic Data Processing P/E Relative to Its Competitors The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. Compared to the aggregate P/E ratio of the 79.91 in the Professional Services industry, Automatic Data Processing Inc. has a lower P/E ratio of 32.54 . Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Nazarbayev University Crisis: Shigeo Katsu Demands Audit TransparencyA Delaware judge ruled on Monday that Tesla TSLA.O CEO Elon Musk still is not entitled to receive a $56 billion compensation package despite shareholders of the electric vehicle company voting to reinstate it. The ruling by the judge, Chancellor Kathaleen McCormick of the Court of Chancery, follows her January decision that called the pay package excessive and rescinded it, surprising investors, and cast uncertainty over Musk's future at the world's most valuable carmaker. Musk did not immediately respond to an emailed request for comment. Tesla has said in court filings that the judge should recognize a subsequent June vote by its shareholders in favor of the pay package for Musk, the company's driving force who is responsible for many of its advances, and reinstate his compensation. McCormick also ordered Tesla to pay the attorneys who brought the case $345 million, well short of the $6 billion they initially requested. Invest wisely: Best online brokers Shareholders also flooded the court with thousands of letters arguing that the January ruling increased the possibility that Musk would leave Tesla or develop some products like artificial intelligence at ventures other than Tesla. More: Tesla leads November's global market value surge Attorneys for shareholder Richard Tornetta, who sued in 2018 to challenge Musk's compensation package, had argued that Delaware law does not permit a company to use a ratification vote to essentially overturn the ruling from a trial. McCormick in January found that Musk improperly controlled the 2018 board process to negotiate the pay package. The board had said that Musk deserved the package because he hit all the ambitious targets on market value, revenue and profitability. But the judge criticized Tesla's board as "beholden" to Musk, saying the compensation plan was proposed by a board whose members had conflicts of interest due to close personal and financial ties to him. After the January ruling, Musk criticized the judge on his social media platform X and encouraged other companies to follow the lead of Tesla and reincorporate in Texas from Delaware, although it is unclear if any companies did so. The judge in her January ruling called the pay package the "biggest compensation plan ever - an unfathomable sum." It was 33 times larger than the next biggest executive compensation package, which was Musk's 2012 pay plan. Musk's 2018 pay package gave him stock grants worth around 1% of Tesla's equity each time the company achieved one of 12 tranches of escalating operational and financial goals. Musk did not receive any guaranteed salary. Tornetta argued that shareholders were not told how easily the goals would be achieved when they voted on the package. Reporting by Tom Hals in Wilmington, Delaware; Editing by Bill Berkrot
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Former Kentucky wide receiver Dane Key, one of the top offensive players in the transfer portal, announced on social media Tuesday that he will transfer to Nebraska. Key posted a photo of himself in a Nebraska uniform wearing the No. 6 he wore at Kentucky. The simple post contained the letters "GBR," short for "Go Big Red," with an emoji heart. Key led Kentucky this past season with 47 receptions for 715 yards and two touchdowns in 12 games as the Wildcats finished 4-8. In three seasons, the 6-foot-3, 210-pounder has 126 receptions for 1,870 yards and 14 TDs in 38 games (35 starts). Key has one season of eligibility remaining after he was a four-star recruit in the class of 2022. --Field Level MediaGo after bigger fish, not yahoo boys – Appeal Court judge tells anti-corruption agents
DETROIT (AP) — For a second time, a Delaware judge has nullified a pay package that Tesla had awarded its CEO, Elon Musk, that once was valued at $56 billion. On Monday, Chancellor Kathaleen St. Jude McCormick to reverse a ruling she announced in January that had thrown out the compensation plan. The judge ruled then that Musk effectively controlled Tesla’s board and had engineered the outsize pay package during . Lawyers for a Tesla shareholder who sued to block the pay package contended that shareholders who had voted for the 10-year plan in 2018 had been given misleading and incomplete information. In their defense, Tesla’s board members asserted that the shareholders who ratified the pay plan a second time in June had done so after receiving full disclosures, thereby curing all the problems the judge had cited in her January ruling. As a result, they argued, Musk deserved the pay package for having raised Tesla’s market value by billions of dollars. McCormick rejected that argument. In her 103-page opinion, she ruled that under Delaware law, Tesla’s lawyers had no grounds to reverse her January ruling “based on evidence they created after trial.” On Monday night, Tesla posted on X, the social media platform owned by Musk, that the company will appeal. The appeal would be filed with the Delaware Supreme Court, the only state appellate court Tesla can pursue. Experts say a ruling would likely come in less than a year. “The ruling, if not overturned, means that judges and plaintiffs’ lawyers run Delaware companies rather than their rightful owners — the shareholders,” Tesla argued. Later, on X, Musk unleashed a blistering attack on the judge, asserting that McCormick is “a radical far left activist cosplaying as a judge.” Legal authorities generally suggest that McCormick’s ruling was sound and followed the law. Charles Elson, founding director of the Weinberg Center for Corporate Governance at the University of Delaware, said that in his view, McCormick was right to rule that after Tesla lost its case in the original trial, it created improper new evidence by asking shareholders to ratify the pay package a second time. Had she allowed such a claim, he said, it would cause a major shift in Delaware’s laws against conflicts of interest given the unusually close relationship between Musk and Tesla’s board. “Delaware protects investors — that’s what she did,” said Elson, who has followed the court for more than three decades. “Just because you’re a ‘superstar CEO’ doesn’t put you in a separate category.” Elson said he thinks investors would be reluctant to put money into Delaware companies if there were exceptions to the law for “special people.” Elson said that in his opinion, the court is likely to uphold McCormick’s ruling. Experts say no. Rulings on state laws are normally left to state courts. Brian Dunn, program director for the Institute of Compensation Studies at Cornell University, said it’s been his experience that Tesla has no choice but to stay in the Delaware courts for this compensation package. The company could try to reconstitute the pay package and seek approval in Texas, where it may expect more friendlier judges. But Dunn, who has spent 40 years as an executive compensation consultant, said it’s likely that some other shareholder would challenge the award in Texas because it’s excessive compared with other CEOs’ pay plans. “If they just want to turn around and deliver him $56 billion, I can’t believe somebody wouldn’t want to litigate it,” Dunn said. “It’s an unconscionable amount of money.” Almost certainly. Tesla stock is trading at 15 times the exercise price of stock options in the current package in Delaware, Morgan Stanley analyst Adam Jonas wrote in a note to investors. Tesla’s share price has doubled in the past six months, Jonas wrote. At Monday’s closing stock price, the Musk package is now worth $101.4 billion, according to Equilar, an executive data firm. And Musk has asked for a subsequent pay package that would give him 25% of Tesla’s voting shares. Musk has said he is uncomfortable moving further into artificial intelligence with the company if he doesn’t have 25% control. He currently holds about 13% of Tesla’s outstanding shares.Details emerge about suspect charged with murder in killing of UnitedHealthcare CEO
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Salah nervelessly converted a 63rd-minute penalty, his 16th goal of the season, after French referee Benoit Bastien had been advised to take another look at Donny van de Beek’s clumsy challenge on Luis Diaz. In the process, he became just the 11th man to score 50 goals in the competition – Real Madrid’s Kylian Mbappe later also joined that exclusive club – on a night when victory at the Estadi Montilivi meant the six-time European champions will enter 2025 sitting proudly at the top of the table. France international Michael Olise produced a moment of magic to set the seal on Bayern Munich’s demolition of Shakhtar Donetsk and ease them towards the knockout stage. Olise’s brilliant stoppage-time run and finish capped a 5-1 victory for the Germans, in which he had early scored from the penalty spot, in Gelsenkirchen. Kevin’s fifth-minute strike had given the home side the perfect start, but Konrad Laimer levelled before Thomas Muller’s 55th goal in the competition sent the visitors in ahead at the break and set the stage for Olise’s double either side of Jamal Musiala’s strike. Jude Bellingham breathed life back into Real Madrid’s campaign as they held off Atalanta to earn a 3-2 victory in Bergamo. After Charles De Ketelaere had cancelled out Mbappe’s opener from the penalty spot, second-half goals from Vinicius Junior and Bellingham in quick succession put the visitors in charge, although Ademola Lookman’s 65th-minute strike meant the contest was alive until the final whistle. Ross Barkley took Aston Villa a step closer to automatic qualification with a late winner against RB Leipzig in Germany. Villa had led twice through John McGinn and Jhon Duran, but equalisers from Lois Openda and Christoph Baumgartner kept Leipzig in it until substitute Barkley struck five minutes from time to snatch a 3-2 victory. Goals from Goncalo Ramos, Nuno Mendes and substitute Desire Doue – his first in the competition – handed French champions Paris St Germain a much-needed three points after a comfortable 3-0 win at RB Salzburg. Nordi Mukiele left it late to end Inter Milan’s unbeaten Champions League record as Bayer Leverkusen claimed a dramatic 1-0 victory at the BayArena. Mukiele struck in the 90th minute to inflict a first defeat across six games in this season’s competition on the Serie A champions – it was also the first goal they have conceded. Casper Nielsen came off the bench to fire Club Brugge to a 2-1 home victory over Sporting Lisbon after Eduardo Quaresma’s own goal had handed them a way back into the game following Geny Catamo’s early opener. Julien Le Cardinal’s first-half strike was enough to handed Brest a 1-0 victory over Eredivisie leaders PSV Eindhoven, while Kasper Schmeichel’s save from Marko Pjaca’s close-range 80th-minute header ensured Celtic returned from Dinamo Zagreb with a 0-0 draw.Wicked star Ariana Grande says she and Cynthia Erivo were ‘insufferable’A judge has once again rejected Musk’s multi-billion-dollar Tesla pay package. Now what?
French government likely to collapse amid threat of 2 non-confidence motionsTrump transition signs MOU with DOJ to facilitate FBI background checks
The French government appears but certain to collapse later this week after far-right and left-wing parties submitted no-confidence motions on Monday against Prime Minister Michel Barnier. Investors immediately punished French assets as the latest developments plunged the eurozone's second-biggest economy deeper into political crisis, with serious doubt cast over whether the annual budget will be approved. "The French have had enough," Marine Le Pen of the far-right National Rally (RN) told reporters in parliament, saying Barnier, who only became prime minister in early September, had made things worse and needed to be pushed out. "We are proposing a motion of no confidence against the government," she said. Barring a last-minute surprise, Barnier's fragile coalition will be the first French government to be forced out by a no-confidence vote since 1962. RN supports both no-confidence bills RN lawmakers and the left combined have enough votes to topple Barnier, and Le Pen confirmed her party would vote for the left-wing coalition's no-confidence bill on top of the RN's own bill. That vote is likely to be held on Wednesday. Marine Le Pen of the far-right National Rally smiles while in France's National Assembly on Monday. (Michel Euler/The Associated Press) The parties announced their no-confidence motions after Barnier said earlier on Monday that he would try to ram a social security bill through parliament without a vote, as a last-minute concession proved insufficient to win RN's support for the legislation. "Faced with this umpteenth denial of democracy, we will censure the government," said Mathilde Panot of the left-wing France Unbowed. "We are living in political chaos because of Michel Barnier's government and Emmanuel Macron's presidency." France's Macron says leaders shouldn't 'abandon their values' in the face of bad polls The spread between French bonds and the German benchmark widened further and a sell-off in the euro gathered pace. Since Macron called snap elections in early June , France's CAC 40 stock index has dropped nearly 10 per cent. It closed flat on Monday after dropping over one per cent earlier in the day. 'We are at a moment of truth' Barnier urged lawmakers not to back the no-confidence vote. WATCH | Unsetlled political climate after French election: Election results put France in political limbo 5 months ago Duration 2:49 A leftist coalition won the most seats in France’s parliamentary election, but it fell short of a minority. Now, the country has no dominant political bloc, creating uncertainty around what the next government will look like. "We are at a moment of truth.... The French will not forgive us for putting the interests of individuals before the future of the country," he said as he put his government's fate in the hands of the divided parliament which was the result of an inconclusive snap election Macron called in June. Barnier's minority government had relied on RN support for its survival. The budget bill, which seeks to rein in France's spiraling public deficit through 60 billion euros (about $88.5 billion Cdn) in tax hikes and spending cuts, snapped that tenuous link. Barnier's entourage and Le Pen's camp each blamed the other and said they had done all they could to reach a deal and had been open to dialogue. Analysis Macron's election gamble may have blocked the far right. But it didn't dim its appeal A source close to Barnier said the prime minister had made major concessions to Le Pen and that voting to bring down the government would mean losing those gains. "Is she ready to sacrifice all the wins she got?" the source told Reuters. No snap elections before July If the no-confidence vote does indeed go through, Barnier would have to tender his resignation but Macron may ask him and his government to stay on in a caretaker role to handle day-to-day business while he seeks a new prime minister, which could well happen only next year. French President Emmanuel Macron — shown above at a recent press conference — will have to consider his options if the government led by Prime Minister Barnier collapses as a result of a pair of non-confidence motions it is facing. (Sarah Meyssonnier/AFP/Getty Images) One option would be for Macron to name a government of technocrats with no political program, hoping that could help survive a no-confidence vote. In any case, there can be no new snap parliamentary elections before July. As far as the budget is concerned, if parliament has not adopted it by Dec. 20, the caretaker government could invoke constitutional powers to pass it by ordinance. French election sees leftists gain, far right slide and a hung parliament However, that would be risky as there is a legal grey area about whether a caretaker government can use such powers. And that would be sure to trigger uproar from the opposition. A more likely move would be for the caretaker government to propose special emergency legislation to roll over spending limits and tax provisions from this year. But that would mean that savings measures Barnier had planned would fall by the wayside.Journalist Protection Bill Blocked In Senate After Tom Cotton Objects To Speedy PassageOTTAWA, ON , Dec. 3, 2024 /PRNewswire/ - China's recent decision to ban exports of gallium, germanium, antimony, and other high-tech materials with potential military applications in retaliation for U.S. restrictions on semiconductor-related exports, underscores the precariousness of global supply chains. This development highlights the vital role of the Canada-U.S. trade relationship in addressing supply chain vulnerabilities. China's actions serve as a stark reminder of the challenges posed by geopolitical tensions, particularly on the reliable supply of critical minerals. These materials are essential not only for technological innovation and economic growth but also for defense applications critical to national security. Canada has long been a dependable partner, providing certainty to U.S. manufacturing and defense industries by serving as a major supplier of minerals and metals. In 2022, 52% of Canada's mineral exports—valued at over $80 billion—were destined for the U.S.. Strengthening the free flow of minerals and metals between Canada and the U.S. is more critical than ever. Imposing tariffs on Canadian mineral and metal exports to the U.S. would run counter to the shared goals of secure and reliable supply chains. Such measures risk disrupting the essential flow of these resources, undermining the competitiveness of North American industries, and exacerbating vulnerabilities in critical mineral supply chains that both nations are working to address. The partnership on critical minerals between Canada and the U.S. began in earnest with the development of the Joint Action Plan on Critical Minerals Collaboration in 2020 under President Trump. This collaboration has continued under the Biden administration, demonstrating the enduring importance of this strategic alliance. As the U.S. prepares for a new administration, we look forward to working closely with the incoming Trump administration to build on this foundation, ensuring the resilience of critical mineral supply chains and supporting shared economic and defense priorities. "The minerals and metals industry in Canada stands ready to strengthen our partnership with the United States , ensuring the free flow of these essential resources that drive economic growth, defense capabilities, and technological advancement on both sides of the border. The security and well-being of all Canadians and Americans depends on it." said Pierre Gratton , President and CEO of MAC. The mining industry is a major sector of Canada's economy, contributing $161 billion to the national GDP and is responsible for 21 percent of Canada's total domestic exports. Canada's mining sector employs 694,000 people directly and indirectly across the country. The industry is proportionally the largest private sector employer of Indigenous peoples in Canada and a major customer of Indigenous-owned businesses. About MAC The Mining Association of Canada is the national organization for the Canadian mining industry. Its members account for most of Canada's production of base and precious metals, uranium, diamonds, metallurgical coal, mined oil sands and industrial minerals and are actively engaged in mineral exploration, mining, smelting, refining and semi-fabrication. Please visit www.mining.ca . SOURCE The Mining Association of Canada
