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Owen Paterson leaves Winfield House during U.S. President Donald Trump's state visit in London, Britain, June 4, 2019. REUTERS/Peter NichollsLONDON, Oct 26 (Reuters) - A British lawmaker and former senior minister faces being suspended from parliament for 30 days after parliament's standards committee found him guilty of a serious breach of rules on paid advocacy. The government should put forward a motion to debate this suspension within five sitting days, the committee said. Paterson, who says the stress of the investigation played a major role in his wife's suicide last year, disputes the findings. He said he was raising issues of public health, including contaminated food, and this is within the rules.
Persons: Owen Paterson, Donald Trump's, Peter Nicholls LONDON, Boris Johnson's, Paterson, Kylie MacLellan, Christina Fincher Organizations: House, U.S, REUTERS, British, Standards, Boris Johnson's Conservatives, Food Standards Agency, Foods, Commons, Thomson Locations: London, Britain, Paterson's
Trump media SPAC surges over 800%, valued beyond $8 billion
  + stars: | 2021-10-25 | by ( )   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump media SPAC surges over 800%, valued beyond $8 billionCNBC's Leslie Picker joins 'Squawk Box' to report on the latest moves of Digital World Acquisition Corp., the SPAC taking former President Donald Trump's media company public.
Persons: Leslie Picker, Donald Trump's Organizations: Trump
Democrats are inching toward new targeted taxes on billionaires to pay for their safety net expansion. "We probably will have a wealth tax," Nancy Pelosi said on Sunday. They're rushing to wrap up talks with holdouts Manchin and Sinema, who are demanding smaller spending plans. The concept bears a strong similarity to the wealth tax that Sen. Elizabeth Warren of Massachusetts popularized during the 2020 presidential campaign. Democrats are rushing to wrap up talks on their social spending plan aimed at renewing the bulked-up child tax credit, provide housing assistance, fight the climate emergency, and expand access to healthcare.
Persons: Nancy Pelosi, holdouts Manchin, CNN's, Pelosi, Sen, Ron Wyden, they're, Elizabeth Warren of, Leon Cooperman, Warren's, Joe Manchin, Kyrsten, centrists, Joe Biden's, Biden, Donald Trump's, Sinema, God Organizations: Service, Senate Finance, Democrats, Washington DC Locations: Oregon, Elizabeth Warren of Massachusetts, Sens, West Virginia, Arizona, New Jersey, Glasgow
Partner of WikiLeaks founder Julian Assange, Stella Morris attends a protest ahead of the appeal hearing over Assange's extradition, in London, Britain October 23, 2021. REUTERS/Tom NicholsonLONDON, Oct 25 (Reuters) - The partner of Julian Assange said on Monday a media report that the CIA had plotted to kill or kidnap the WikiLeaks founder was a game-changer in his fight against extradition from Britain to the United States. The U.S. government lawyer who is leading the prosecution of Assange did not immediately respond to a request for comment. When he lost that case against extradition in 2012, he fled to the Ecuadorean embassy. Currently, Assange is being held at London's top security Belmarsh Prison where Moris visited him on Saturday, saying he looked very thin.
Persons: Julian Assange, Stella Morris, Tom Nicholson LONDON, Assange, Donald Trump's, Julian, Stella Moris, Moris, Michael Holden, Mark Hosenball, Mark Heinrich Our Organizations: REUTERS, CIA, U.S, Yahoo News, Yahoo, WikiLeaks, Thomson Locations: London, Britain, United States, British, Ecuadorean, U.S, Sweden, Swedish, Washington
GOP Sen. Roy Blunt said Trump should focus on the future rather than the past. "The best thing that President Trump could do to help us win majorities in 2022 is talk about the future." "Better off to talk about the future than to focus on the past in every election," Blunt, the No. "But again I think what President Trump could do that would be most helpful right now would be focus on the policies that aren't working. His policies at the border were working, his regulatory policies were working, his tax policies were working.
Persons: Sen, Roy Blunt, Trump, Republican Sen, Donald Trump's, Blunt, Joe Biden, Trump's, Biden, He's, Mitch McConnell, McConnell Organizations: Service, Republican, Sunday, Missouri Republican, NBC, GOP, Republicans, NBC News, Trump Locations: State, Arizona
Some members of Congress did not realize just how bad the January 6 insurrection was during it. "We're learning how bad this is from people texting us, emailing us, calling us," one lawmaker told Insider. Members then hunkered down in secure locations or sheltered-in-place in their offices until law enforcement secured the building. But some lawmakers didn't witness the chaos that erupted that day. GOP Sen. Ron Johnson of Wisconsin said he didn't learn that rioters had shouted racist abuse at Black police officers until a month later.
Persons: Joe Biden's, Donald Trump's, didn't, Gerry Connolly, We've, there'd, Peter Meijer of, Connolly, Don Beyer, GOP Sen, Ron Johnson, Wisconsin, Johnson, acquit Trump Organizations: Service, Lawmakers, Capitol, Democratic, Virginia, Republican, Peter Meijer of Michigan, GOP, Black, Congressional
MANDEL NGAN/AFP via Getty ImagesDonald Trump is set to receive a 58% stake in the post-merger Trump Media & Technology Group, Bloomberg reported. The former president announced plans last week to take his company public through a merger with Digital World Acquisition Corp., a blank-check company better known as a special purpose acquisition company. Digital World Acquisition quickly turned into a meme stock as retail traders rallied around the future business. A representative from Trump Media & Technology Group did not immediately respond to Insider's request for comment. Trump's media company didn't provide much in the way of financial statements or outlook upon announcing the merger with Digital World Acquisition.
Persons: Donald Trump, MANDEL NGAN, Trump Organizations: Getty, Trump Media & Technology Group, Bloomberg, Trump, Capital Management, Lighthouse Partners, Saba Capital Management, Big Tech Locations: AFP
The social media app will be developed by Trump Media and Technology Group (TMTG). The SPAC stock linked to Donald Trump's planned social media platform sharply dropped in price Monday afternoon after booking huge gains last week following news that it would merge with the ex-president's planned social media company. Digital World Acquisition Corp. stock was down by 10% just after 2 p.m. Last Thursday, with its price soared more than 350% in a single session, nearly 500 million shares of DWAC were traded. In another sign that the Trump-fueled craze had died down, or at least moderated a bit, the share price of the advertising software start-up Phunware tumbled 20% on Monday.
Persons: Donald Trump's, DWAC, Phunware Organizations: Trump Media, Technology, Corp, DWAC, New York Stock Exchange, Nasdaq, Trump
A federal judge said judges prosecuting January 6 cases are receiving "all kinds of threats." DC District Judge Reggie Walton made the comments during sentencing for Lori and Thomas Vinson. Lori Vinson made headlines after giving a broadcast interview in which she boasted that she would "do it again." Ahead of sentencing, Lori Vinson tearfully asked the judge for leniency, citing her new job as a nurse and her work helping patients with COVID-19, according to CNN. "I took that oath to the Constitution and I know I broke that oath that day by entering that building and participating in the events of January 6," Thomas Vinson reportedly said.
Persons: Reggie Walton, Lori, Thomas Vinson, Donald Trump's, we're, Walton, hasn't, Thomas, Lori Vinson, Vinson Organizations: DC, Service, Capitol, CNN, Department of Homeland Security, Trump, Federal, FBI Locations: Kentucky, Evansville , Indiana
Mitch McConnell criticized Democrats' plan to tax billionaires' assets, calling it a "harebrained scheme." The proposal by Sen. Ron Wyden would annually tax the increased value of wealthy people's assets. "This harebrained scheme would have the IRS (Internal Revenue Service) penalizing people who invested wisely and compensating people who have invested poorly," McConnell said in remarks on the Senate floor. Although Wyden's proposal is not the wealth tax the public overwhelmingly supports, President Joe Biden previously indicated he supported the proposal. West Virginia Sen. Joe Manchin, the other centrist Democrat pushing back on components of the bill, has indicated he's open to a billionaire's tax.
Persons: Mitch McConnell, Sen, Ron Wyden, McConnell, Ron Wyden's, they're, Massachusetts Sen, Elizabeth Warren's ultramillionaire, Joe Biden, Joseph Zeballos, Arizona Sen, Kyrsten, , Donald Trump's, Virginia Sen, Joe Manchin Organizations: Service, Internal Revenue, Democratic, Democrat Locations: Massachusetts, Arizona
Manchin says he's open to imposing new taxes on billionaires to cover the Democratic safety net package. "I'm open to any type of thing that makes people pay," Manchin told reporters on Monday. Democrats are eyeing alternative plans after Sinema quashed corporate tax rate increases. "I'm open to any type of thing that makes people pay," Manchin told reporters on Monday. Manchin was referring to a new "Billionaires' Tax" from Sen. Ron Wyden of Oregon, chair of the Senate Finance Committee.
Persons: Manchin, Sen, Joe Manchin, Ron Wyden, Kyrsten, Donald Trump's, Mitch McConnell Organizations: Democratic, Service, Senate Finance, White Locations: Oregon, Arizona
Former President Obama mocked the New Jersey GOP gubernatorial nominee for attending a 'Stop the Steal' rally. Obama poked at Jack Ciattarelli, who said he unknowingly attended a pro-Trump rally last November. Obama mocked Ciattarelli in Newark as he stumped for Democratic Gov. "Apparently Phil's opponent says he didn't know it was a rally to overturn the results of the last election," Obama said at the weekend rally. "He didn't know it?
Persons: Obama, Jack Ciattarelli, Phil Murphy, Barack Obama, Ciattarelli, Terry McAuliffe, who's, Joe Biden, Donald Trump's, Murphy Organizations: New, New Jersey GOP, Trump, Democratic Gov, Service, New Jersey Republican, Gov, president's, Confederate, Women Voters, America, Republicans, Democratic Locations: New Jersey, Newark, Garden, Virginia, Bedminster , New Jersey
Facebook decided to keep Breitbart news about the George Floyd protests on its News Tab feature, the WSJ reports. Facebook did not immediately respond to Insider's request for comment about why it kept the hyper-partisan, Right-wing outlet in its News Tab. 17 news organizations are prepped to drop new coverage about the company on Monday, which will be called the "Facebook Papers." in the message board reviewed by the Wall Street Journal. The allegations against Facebook are the latest in the Wall Street Journal's "Facebook Files."
Persons: George Floyd, , Breitbart, Donald Trump's, Frances Haugen, Mark Zuckerberg, Communications Lena Pietsch, whitelisting, Steve Bannon Organizations: Facebook, Breitbart, Service, Wall Street, Minneapolis, Communications, Wall Street Journal, Public, Trump Republicans, Associated Press, The New York Times, Washington Post, CNN, NBC News, Bloomberg Locations: Flames
Truth Social has ripped off code and violated a software licensing agreement, the Software Freedom Conservancy said. If Truth Social doesn't comply, it could be sued or forced to rebuild the entire platform. —metal dot hex (@metaltxt) October 21, 2021The Software Freedom Conservancy is insisting that TMTG offers all users access to the Truth Social source code. If it fails to do so, then the rights and permissions to the Mastodon software would be permanently terminated. Failing to do this, the media outlet added, the Software Freedom Conservancy could sue for violating the terms of the license used.
Persons: Donald Trump's, Gizmodo, Eugene Rochko, Rochko, Cheryl Teh, Mike Pence Organizations: Software, Conservancy, Service, The Trump Media, Technology, Mastodon, Twitter
Investors in the SPAC that merged with Trump Media reportedly sold their stakes on the news. "For us, this was not a close call," Boaz Weinstein, of Saba Capital Management, told Bloomberg. Shares of Digital World Acquisition Corp., a SPAC , or special acquisition company, soared last week as it merged with Trump's new company. Richard Brian/ReutersDigital World shares jumped on Thursday to $45.40 apiece , a one-day gain of 357%. Reuters reported that Lighthouse Investment Partners also pulled its investment.
Persons: Boaz Weinstein, , Donald Trump's, Saba, Richard Brian, Weinstein Organizations: Trump Media, Saba Capital Management, Bloomberg, Service, Trump Media & Technology Group, Reuters, New York Times, World, Investment Partners, CNBC, US Securities and Exchange Commission Locations: Saba
Smith didn't follow the recommended QAnon groups, but whatever algorithm Facebook was using to determine how she should engage with the platform pushed ahead just the same. The body of research consistently found Facebook pushed some users into "rabbit holes," increasingly narrow echo chambers where violent conspiracy theories thrived. People radicalized through these rabbit holes make up a small slice of total users, but at Facebook's scale, that can mean millions of individuals. By summer 2020, Facebook was hosting thousands of private QAnon groups and pages, with millions of members and followers, according to an unreleased internal investigation. Researchers inside Facebook studying the platform's niche communities found violent conspiratorial beliefs to be connected to Covid-19 vaccine hesitancy.
Persons: Dado Ruvic, Carol Smith, Donald Trump, Smith, Trump, Smith didn't, Alec Baldwin, Halyna Hutchins, Frances Haugen, Haugen, Mark Zuckerberg, Haugen's, Renée DiResta, Carol Smith's, QAnon, QAnon hashtags, Marc, André, influencers, Donald Trump's Organizations: Reuters, Fox News, Facebook, NBC News, Securities and Exchange Commission, Stanford Internet Observatory, FBI, King's College London's, U.S, Capitol, BuzzFeed News Locations: Wilmington , North Carolina, Covid
A congressional ethics watchdog says Rep. Mike Kelly's wife may have made an illegal stock purchase. Kelly previously violated the STOCK Act by not reporting a stock purchase on time, Insider reported. Victoria Kelly made the stock purchase the following day, days before any public announcement. The Stop Trading on Congressional Knowledge Act (STOCK) Act was passed in 2012 to address insider trading and conflicts of interest in Congress. Kelly is among 43 members of Congress identified by Insider and other news organizations as having violated the STOCK Act.
Persons: Mike Kelly's, Kelly, Mike Kelly, Victoria Kelly, Donald Trump's, Trump, Wilbur Ross Organizations: Service, Pennsylvania Rep, Cliffs Inc, Associated Press, Commerce, Beauty Health Company Locations: Pennsylvania, Cleveland, Ohio, Kelly's
Digital World Acquisition (DWAC.O), a Miami-based special purpose acquisition company (SPAC), closed up 107% at $94.20 on Nasdaq after earlier hitting a high of $175. Digital World soared more than 350% on Thursday, a day after the deal was announced, giving it a market capitalization of almost $1.5 billion on news it would merge with Trump's media company to create a social media app called TRUTH Social. It was the most discussed stock on trading-focused social media site Stocktwits, a platform commonly seen as a measure of interest from retail investors. Social media giants suspended Trump's accounts after his supporters rioted at the U.S. Capitol on Jan. 6. The stock traded about 130 million shares on Friday, surpassing the free float of 22.8 million shares, based on Refinitiv data.
Persons: Donald Trump, Rachel Mummey, Stock, Donald Trump's, Joe Saluzzi, Trump, Eric Diton, Trump's, Patrick Orlando, Boaz Weinstein, Weinstein, Medha Singh, Sruthi Shankar, Devik, Ira Iosebashvili, Sinéad Carew, Will Dunham, Shounak Dasgupta, Philippa Fletcher Organizations: U.S, Iowa States Fairgrounds, REUTERS, Nasdaq, GameStop Corp, AMC Entertainment Holdings, AMC, GameStop, Themis, Fidelity, Social, Capitol, Big Tech, Trump, Wealth Alliance, Republican, Phunware Inc, Management's, Trump Media, Technology Group, Thomson Locations: Des Moines , Iowa, U.S, Miami, Chatham , New Jersey, Saba, Bengaluru, New York
Digital World Acquisition (DWAC.O) stock was last up 138.5% at $108.52 after earlier hitting a high of $175. The special purpose acquisition company (SPAC) Digital World had soared more than 300% on Thursday, giving it a market capitalization of almost $1.5 billion on news it would merge with Trump's media company to create a social media app called TRUTH Social. It was also the most discussed stock on trading-focused social media site Stocktwits, a platform commonly seen as a measure of interest from retail investors. Social media giants suspended Trump's accounts after his supporters rioted at the U.S. Capitol on Jan. 6. The stock had already traded more than 77 million shares by noon on Friday, surpassing the free float of 22.8 million shares, based on Refinitiv data.
Persons: Donald Trump, Rachel Mummey, Stock, Donald Trump's, Joe Saluzzi, Trump, Eric Diton, Trump's, Patrick Orlando, Boaz Weinstein, Weinstein, Medha Singh, Sruthi Shankar, Devik, Shounak Dasgupta, Philippa Fletcher Organizations: U.S, Iowa States Fairgrounds, REUTERS, GameStop Corp, AMC Entertainment Holdings, AMC, GameStop, Themis, Fidelity, Social, Capitol, Big Tech, Trump, Wealth Alliance, Inc, Management's, Corp, Thomson Locations: Des Moines , Iowa, U.S, Chatham , New Jersey, Saba, Bengaluru
Hackers from Anonymous told The NYT they had created fake accounts on Trump's Truth Social site. On a fake Trump account, they posted a photo of a defecating pig, the publication reported. Hackers claiming affiliation with the group Anonymous created fake accounts for Trump and his former aide Steve Bannon on Truth Social, the network that Trump announced Wednesday, The New York Times reported. Fake accounts were also set up in the names of conspiracy theorist Ron Watkins and Twitter CEO Jack Dorsey. The hackers told The Times the hack was part of their "online war against hate."
Persons: Donald Trump's, Trump, Steve Bannon, Ron Watkins, Jack Dorsey, TMTG, Aubrey Cottle, Cottle, Mike Pence, Mikael Thalen, Drew Harwell Organizations: Anonymous, Service, Trump, The New York Times, Twitter, Times, Trump Media & Technology, Big Tech, Daily, Washington Post
REUTERS/Carlo AllegriNEW YORK, Oct 22 (Reuters) - A jury is expected to begin deliberating on Friday in the case of Lev Parnas, a former Rudy Giuliani associate who is accused of violating U.S. campaign finance laws by concealing the source of donations to politicians. Prosecutors say Parnas, a Ukraine-born U.S. citizen, was trying to obtain licenses to operate cannabis companies. A Muraviev associate, Ukraine-born U.S. citizen Andrey Kukushkin, is being tried alongside Parnas. In his closing statement, Parnas' attorney Joseph Bondy characterized his client as a passionate proponent of marijuana legalization who was "in well over his head." Gerald Lefcourt, Kukushkin's attorney, said his client was focused on the cannabis business and not involved in campaign contributions.
Persons: Lev Parnas, Giuliani, Joseph Bondy, Carlo Allegri, Rudy Giuliani, Parnas, Andrey Muraviev, Hagan Scotten, Andrey Kukushkin, Gerald Lefcourt, Igor Fruman, Donald Trump's, Joe Biden, Biden, Trump, Luc Cohen, Noeleen Walder, Grant McCool Organizations: United States Court, REUTERS, Prosecutors, New York City, Trump, Thomson Locations: American, Manhattan, New York City , New York, U.S, Ukraine, Belarus
Associated Press/Charlie NeibergallDigital World Acquisition stock surged as much as 94% in premarket trading Friday. The SPAC's shares rose 357% on Thursday after it struck a deal to acquire Trump's media startup. Trump's company plans to disrupt Big Tech and become a hub for conservative voices. Digital World Acquisition shares jumped as much as 94% in premarket trading Friday, as investors piled into the special-purpose acquisition company set to take former US President Donald Trump's media startup public. DWAC stock already skyrocketed 357% on Thursday after the SPAC announced it was acquiring Trump Media & Technology Group.
Persons: Donald Trump, Charlie Neibergall, Donald Trump's, Trump, TMTG, Walt Disney Organizations: Associated Press, Big Tech, Trump Media & Technology Group, Apple, Netflix, Microsoft, Facebook, Twitter, YouTube, Capitol, White
Brendan McDermid/ReutersUS stocks were mixed on Friday, with the Nasdaq falling after lackluster earnings from Snap. Apple's recent iPhone privacy changes hurt Snap's advertising business, which led to a decline in other ad-reliant tech companies. Chinese property developer Evergrande made a key bond payment that prevented it from defaulting. US stocks were mixed on Friday, with the Nasdaq trading lower following a dismal third-quarter earnings report from Snap. Recent changes to Apple's iPhone privacy settings made it harder for Snap to deliver ads to targeted users, and that weakness dragged down shares of other advertising-reliant tech companies like Facebook and Alphabet.
Persons: Brendan McDermid, Evergrande, Donald Trump's, Brent Organizations: Nasdaq, Facebook, Saba, Digital, Trump, . West Texas
Jae C. Hong/AP Images Jae C. Hong/AP ImagesRetail traders have poured into Digital World Acquisition Corp. stock following the Trump deal. Comments on the stock surged after the deal: "DWAC: Make SPACs great again," wrote one Redditor. Trump announced Thursday that a SPAC known as Digital World Acquisition Corp. would be taking his newly formed media company public. But Litquidity, the famous social media finance meme account, wrote in a newsletter Friday morning that "Trump Media and WeWork brought SPACs back in vogue." In an impression of Trump, one Redditor wrote, "$DWAC IS GOING TO BE YUUUUUGE."
Persons: Donald Trump, Jae C, Jae, Trump, Donald Trump's, DWAC, Reddit, WeWork, Redditor Organizations: Retail, Corp, Fidelity, Trump, Trump Media, Trump Media & Technology Group, Big Tech
EMMANUEL DUNAND/AFP via Getty ImagesPhunware stock extended its two-day gain to as much as 2,189% on Friday amid the Digital World SPAC hype. The software firm developed an app to help power the 2020 Trump/Pence re-election campaign. Digital World Acquisition is a SPAC that announced late Wednesday plans to merge with former President Donald Trump's recently formed Trump Media and Technology Group. Phunware stock is rising in sympathy of that move, as investors point out that the software developer was tapped by the 2020 Trump/Pence re-election campaign to build its app. There is no confirmation that Phunware will work with Trump Media and Technology Group to help develop the Truth Social media app.
Persons: EMMANUEL DUNAND, Pence, Donald Trump's, Trump's, T3TradingGroup Scott Redler, Phunware Organizations: New York Stock Exchange, Getty, Trump, Traders, Trump Media, Technology Group, Social, Lyte Technology Locations: AFP, Austin , Texas
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