🚀Trump Becomes First Ex-President Convicted of Felony Crimes
The Case Unveiled: Hush Money to Influence the Election
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The S&P/ASX 200 closed 74 points higher, up 0.96%.
💡Here are a few headlines from this morning:
2024 Redistribution Proposal: Western Australia . The Australian Electoral Commission released its draft seat redistribution plan for Victoria (losing one) and Western Australia (gaining one).
Australia Pledges Additional $31 Million to Support Ukraine. Russia's brutal attacks on Ukraine's people will prompt the Albanese Government to provide $31 million in energy and humanitarian aid.
🗳️ HEADSTART
Trump Convicted of Felony Crimes in New York Hush Money Case
Donald Trump was found guilty in New York of 34 charges related to paying hush money to a porn actor to influence the 2016 election illegally, marking him as the first former U.S. president convicted of felony crimes.
The background
Last year, Manhattan District Attorney Alvin Bragg, a Democrat, presented the first indictment of a former president, accusing him of falsifying the repayment of his former lawyer Michael Cohen to cover up a $130,000 Cohen payment to adult film star Stormy Daniels to keep her quiet about an alleged affair with Trump before the 2016 election. Trump denies the affair.
Former President Donald Trump
Donald Trump called his New York hush money trial a “rigged trial” and “corrupt judge” after the historic guilty verdict.
“The real verdict is going to be November 5th by the people, and they know what happened here and everybody knows what happened here,” the former president said as he left the Manhattan courtroom after Thursday's verdict.
When will Trump be sentenced?
Judge Juan M. Merchan scheduled sentencing for July 11, days before the Republican National Convention in Milwaukee, where GOP leaders, who remained steadfast in their support after the verdict, are expected to nominate him.
Trump's presidential chances?
Donald Trump can run for president in 2024 despite being found guilty in the criminal case, according to the Santos Unfiltered podcast episode. Dr. John Hart explained that the Constitution only disqualifies presidential candidates for being natural-born citizens, 35 years old, and 14 years a US resident.
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🔥 HOT COPY
Legal Battle Continues: Lehrmann's Notice of Appeal in Defamation Case
Former Liberal staffer Bruce Lehrmann has lodged a notice of appeal with the Federal Court after a ruling that on the balance of probabilities he was involved in the incident involving Brittany Higgins at Parliament House in 2019.
The Background
After The Project aired Higgins' Monday 15 February 2021 interview alleging she was raped by a staffer, Justice Michael Lee ruled that Wilkinson and Ten did not defame the former Liberal staffer in April.
The defamation case Mr. Lehrmann brought against the network and journalist Lisa Wilkinson lasted for five weeks before reopening last month for further proceedings.
Bruce Lehrmann
Mr. Lehrmann has consistently affirmed his innocence in the matter, and the ACT Supreme Court's aborted trial resulted in no criminal convictions being made against him.
Lisa Wilkinson's
Although the exact costs of Mr. Lehrmann's unsuccessful defamation lawsuit are unknown, the court heard earlier this week that Ms. Wilkinson was requesting $1.8 million from Network Ten.
Why does this matter?
This case is important because it shows how defamation cases can cost both the plaintiff and the defendant a lot of money, while also highlighting the challenges individuals face when trying to clear their name in public. However, it does show the difficulties people face when they want to clear their name in public.
🛒 MARKET EDGE
Australian Businesses Maintain Profits Despite Challenges in 2022-23
Despite facing challenges such as increased input costs, higher demand driven by migration, and a surge in essential spending after the easing of COVID-19 restrictions, ABS head of business statistics Robert Ewing reported steady operating profits in 2022-23. Retail, wholesale, transport, lodging, and food services saw increased profits.
The Expert :
Robert Ewing, ABS head of business statistics, said: “Operating profits varied across industries due to increased input costs in 2022-23.
“Businesses faced a combination of challenges, including rising input costs, higher demand from increased migration, and a surge in essential spending following the easing of COVID-19 restrictions. The data illustrates how businesses fared and, in certain instances, managed to transfer the increased costs to consumers.”
The Revelation :
These factors contributed to the growth of operating profits in specific industries, including retail ($5.2 billion), wholesale ($6 billion), transportation ($4.2 billion), and lodging and food services ($2.2 billion).
RBA
The Rental, hiring, and real estate services industry experienced $45.5 billion in negative revaluations and operating profit declines as a result of the Reserve Bank of Australia's cash rate hike from 0.35% to 4.10% in 2022–23.
Mining recorded the highest surge in operating profits ($57.2b) due to energy shortages in Europe and heightened demand in Asia. Energy shortages in Europe and strong demand in Asia boosted coal and oil and gas extraction through 2022.
Our data and Sources :
The Australian Bureau of Statistics provided the data, and the 12-month period ending June 30, 2023, served as the general reference period for this collection. Businesses that were unable to provide information on this basis were asked to use an accounting period for which data was available.
Why does this matter?
This is significant as it underscores the direct and substantial impact of the Reserve Bank of Australia's cash rate hike on the mining sector, resulting in a notable increase in operating profits. The data also underscores the global factors, such as energy shortages in Europe and strong demand in Asia, that influenced the performance of coal and oil and gas extraction industries during this period.
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🌎 World Tonight
🇭🇺 Hungary. On Friday, Hungarian Prime Minister Viktor Orbán said NATO proposals to allow Ukraine to use Western weapons to strike Russian targets push Europe “inching closer to destruction.”
🇯🇵 Japan. Tokyo's latest count released Monday showed China Coast Guard ships in waters around Japanese-controlled East China Sea islands for a record 158 days, surpassing the 2021 record.
🇿🇦 South Africa. As the ruling African National Congress (ANC) looked set to lose a majority for the first time in 30 years, South African parties prepared for coalition talks on Friday.
🇮🇳 India. A lawmaker who left India after being accused of sexually abusing multiple women has been detained by police there.
🇸🇬 Singapore. This weekend, government leaders, defence officials, and diplomats from around the world are in Singapore for Asia's premier security forum amid rising tension and competition for Indo-Pacific influence between the US and China.
🏅VIEWPOINT 360
Climate change is killing us — in more ways than one
By Grace Jennings-Edquist, Commissioning Editor, 360info
We've all heard about climate change's effect on our planet, but what about its catastrophic impact on human health?
We've all heard about climate change's effect on our planet — but do you know about the many ways it also impacts human health?
Climate change is expected to cause an estimated USD$2-4 billion in direct damage costs to health by the year 2030, according to the World Health Organization.
But the human health toll is more devastating.
Increasingly frequent heatwaves, storms, bushfires, hurricanes and floods can cause death and injury. The smoke from bushfires contributes to respiratory illness and premature death, especially in busy cities. [Read more]
📰 Good News, Inspiring, Positive Stories
Breaking new ground with trials targeting the biology of anorexia nervosa
Melbourne researchers hope Monash University-led trials using transcranial magnetic stimulation (TMS) or estrogen to treat people living with anorexia nervosa will improve their symptoms.
The TMS trial, the first of its kind, applies electromagnetic stimulation to a brain network that the team identified from brain injury sites to have caused anorexic behaviours.
It is hoped that stimulating this specific brain network (causal target) with non-invasive and safe TMS will improve the difficulties people living with this disorder experience.
The other trial, an Australian first, is a randomised controlled trial investigating the effects of transdermal estrogen patches on symptoms of anorexia compared to placebo.
Estrogen is a hormone with a range of benefits, impacting upon mood, cognition and appetite, areas which are all affected by anorexia nervosa. Hormonal fluctuations have been linked to eating disorders, so there’s optimism that addressing hormonal imbalances could lead to symptom improvement.
Researchers from HER Centre Australia’s Li Transformative Hub for Research Into Eating Disorders (Li-THRED) will oversee the projects through Monash University and Alfred Health. Both trials are seeking participants.
Launched in 2023, with the generous philanthropic support of Mr David Li AM and Mrs Angela Li, Li-THRED is taking a novel approach to eating disorder treatment by targeting brain biology.
Anorexia nervosa is a psychiatric disorder with one of the highest rates of morbidity and mortality, with an estimated risk of death four times higher than that of clinical depression*. More than a third of those with adolescent onset anorexia nervosa never fully recover**.
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