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On May 5th, at approximately 8:54 AM local time, an earthquake with a maximum intensity of 3 was observed in Iwate Prefecture, Japan. The Japan Meteorological Agency stated that the epicenter was located off the coast of the Sanriku region, at a depth of approximately 30 kilometers, and the estimated magnitude was 5.2. There is no risk of a tsunami.According to Nikkei, Japans JSR Corporation plans to establish its first semiconductor materials manufacturing plant in Taiwan and supply raw materials to TSMC.May 5th - Meta Platforms (META.O) is developing a financing plan for a data center in El Paso, Texas, with a total value potentially reaching approximately $13 billion. According to sources familiar with the matter, Morgan Stanley and JPMorgan Chase are leading the process. These sources stated that the majority of the financing is expected to be in the form of debt, with the remainder being equity financing. The sources indicated that discussions are still in the early stages and the specific terms are still being refined.Conflict Situation: 1. Market News: Russian attacks on the Kharkiv region of Ukraine have resulted in 5 deaths and 18 injuries. 2. Russian Ministry of Defense: A ceasefire will be implemented from May 8th to 9th, 2026, and Russia hopes that Ukraine will reciprocate. 3. Russian Ministry of Defense: If Ukraine attempts to disrupt Victory Day celebrations, a large-scale retaliatory missile attack will be launched on the center of Kyiv. 4. Zelensky: Ukraine has not received any proposals regarding a ceasefire on May 9th, and will implement a unilateral ceasefire starting at midnight on the 6th. Other Situations: 1. NATO stated it will continue to provide Ukraine with anti-missile missiles. 2. Zelensky called for European participation in the Ukraine-Russia negotiations. 3. The Russian Federal Security Service arrested 150 underground weapons manufacturers. 4. Zelensky: Ukraine and Europe agreed to accelerate the implementation of the drone cooperation agreement. 5. Austria announced the expulsion of three Russian diplomats; Russia stated it will respond strongly to Austrias decision.Market news: Meta Platforms (META.O) is developing a financing plan for a data center in El Paso, Texas, with a total amount potentially reaching approximately $13 billion. According to sources familiar with the matter, Morgan Stanley and JPMorgan Chase are leading the process.

New York property magnate contests "every element" of contempt order Trump probe

Aria Thomas

Jul 07, 2022 11:16


Cushman & Wakefield (NYSE:CWK), which appraised several properties belonging to Donald Trump, protested "every facet" of an order finding it in contempt of court in regard to subpoenas issued in a civil investigation into whether the former president manipulated asset valuations.


Justice Arthur Engoron of a New York state court in Manhattan determined Tuesday that Cushman, one of the world's largest real estate companies, was in contempt and imposed $10,000-per-day fines beginning July 7.


He chastised Cushman for delaying over its most recent date to obtain an extension to comply with subpoenas issued by New York Attorney General Letitia James, adding that the business "had only itself to blame if it chose to disregard the approaching deadlines."


Engoron acknowledged that James subpoenaed Cushman for a "vast" number of documents, but maintained that state law supported such a sweeping demand.


Cushman petitioned a state court of appeals in Manhattan to revisit the contempt ruling against Engoron and provide him extra time to comply with the subpoenas.


Cushman has indicated that it has provided over 650 assessments and several hundred thousand pages of documents since February, and has denied any charges that it has worked in bad faith.


A spokesman for James did not immediately respond to requests for comment.


James, a Democrat, is investigating whether Trump and his family business, the Trump Organization, inflated the assessments of golf courses, hotels, and other real estate to qualify for favorable loans then dropped the prices to avoid paying taxes.


Her office's ability to acquire documents is vital as it prepares to subpoena Trump and two of his adult children, Donald Trump Jr. and Ivanka Trump, on July 15.


Trump, a Republican, has called James' inquiry a "politically motivated witch hunt."


When Engoron convicted him in contempt on April 25, he paid $110,000 in fines. On Monday of last week, the court lifted the contempt order.