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On August 3rd, E Fund Crude Oil LOF issued an announcement stating that its secondary market trading price has recently been significantly higher than its net asset value per unit, exhibiting a substantial premium. If the premium in the secondary market trading price does not effectively decrease by August 4th, 2026, the fund has the right to apply to the Shenzhen Stock Exchange for measures such as temporary intraday trading halts, extended trading halts, or continuous trading halts to warn the market of the risk. Specific details will be announced at that time.Futures News, August 3rd: 1. Reason for the Charge: Due to disruptions in Middle Eastern fuel supplies leading to a significant increase in fuel prices, Maersk has decided to impose a temporary emergency fuel or energy surcharge on all inland transport in the Nordic region until further notice. 2. Effective Date and Scope: Effective from August 5th, 2026, for all store-to-door (SD) transport with a price calculation date of August 5th or later. Affected countries include Denmark, Norway, Sweden, Finland, Latvia, Estonia, and Lithuania. 3. Specific Rates: Denmark 10%, Sweden 6%, Norway 0%, Finland 5%, Lithuania 4%, Latvia 12%, Estonia 18%. 4. Additional Notes: Electric truck and rail transport are currently unaffected. Rates will be updated weekly as they change.Ukrainian President Zelensky: He will appoint Ukraines chief negotiator, Umerov, as the head of the External Intelligence Service.According to Iranian reports, Iranian Foreign Minister Araqchi has arrived in Najaf, Iraq.The Spanish Association of Automobile Manufacturers reported that Tesla (TSLA.O) new car registrations in Spain increased by 19.8% year-on-year from January to July, while overall electric vehicle registrations increased by 34.9%.

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.

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