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☆ SPAC seeking to merge with Trump's media company settles with the SEC
▼ + stars: | 2023-07-20 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —The Securities and Exchange Commission announced Thursday that it settled with the blank-check company seeking to merge with former President Donald Trump’s media company. Nearly two years ago, TMTG announced that it would merge with Digital World, which is a special purpose acquisition company, or SPAC. A SPAC, also known as a blank-check company, is a shell company that debuts on the public market with the stated intent to acquire an existing private company. The SEC said it also found that Digital World failed to disclose that its CEO had a potential conflict of interest with TMTG based on a previous agreement he signed with the company. Last month, federal prosecutors arrested three investors on insider trading charges related to Digital World’s deal with Trump’s media company.

Persons: Donald Trump’s, TMTG, DWAC, “, ”, Gurbir, Grewal Organizations: CNN, Securities, Exchange Commission, SEC, Acquisition, Trump Media & Technology Locations: SEC’s

In the super PAC’s filing, those two payments were labeled “event planning and consulting,” according to Federal Election Commission records. Federal rules are generally lax when it comes to requiring that the final destination of money be revealed. Instead, committees must disclose only the first vendor paid. It is rare for the spouse of a potential presidential candidate to be paid directly by a campaign or an outside group affiliated with the candidate. The fee was $125,000, and the second $30,000 payment was for additional services rendered out of the scope of the first contract, the representative said.

Persons: Charles Gantt, ”, Trump Organizations: Commission, PAC, Trump, Make, Inc

☆ Pro-Kennedy Super PAC Says It Has Raised $10 Million
▼ + stars: | 2023-07-03 | by ( Rebecca Davis O Brien | ) www.nytimes.com time to read: +1 min

A political action committee supporting Robert F. Kennedy Jr.’s presidential campaign has raised a total of $10.25 million, one of its leaders said on Monday, a signal that his long-shot challenge to President Biden has gained traction among donors, including many Republicans. The precise level of fund-raising by the super PAC, American Values 2024, will not be known until later this month, when political action committees file midyear reports with the Federal Election Commission. But Tony Lyons, Mr. Kennedy’s publisher and the super PAC’s co-chair, said that the $10.25 million included two “very large” donations that each exceed $1 million, and that the contributions came from a “right down the middle” mix of Republicans and Democrats. Mr. Kennedy, a 69-year-old environmental lawyer and prominent skeptic of vaccines and prescription medications, often cites contorted statistics and unfounded theories. Mr. Kennedy will not come close to summoning the kind of financial support that will flow to Mr. Biden, who as the incumbent has the might of the Democratic National Committee and a robust donor infrastructure behind him.

Persons: Robert F, Kennedy Jr, ’, Biden, Tony Lyons, Kennedy Organizations: Republicans, Federal, Commission, Democratic Party, Democratic National Committee

☆ Democrats to Use $20 Million Equal Rights Push to Aid 2024 N.Y. House Bids
▼ + stars: | 2023-06-29 | by ( Dana Rubinstein | ) www.nytimes.com time to read: +1 min

New York Democrats’ substandard performance in the midterm elections last year helped their party lose control of the House of Representatives, threatened its national agenda, and angered national Democrats. In an effort to avoid repeating the same mistake, New York Democrats on Thursday will announce support for a statewide effort to pass a women’s rights amendment that they hope will also supercharge turnout in 2024, when President Biden and House members will be up for re-election. Their strategy: Get Democrats to the polls by focusing attention on a 2024 statewide referendum, the New York Equal Rights Amendment, that will explicitly bar New York from using its power and resources to penalize those who have abortions. Kathy Hochul and House Minority Leader Hakeem Jeffries, among others, plans to raise at least $20 million to spend on television ads, direct mail and organizing in support of the initiative. The effort is designed to complement the House Democrats’ main super PAC’s $45 million bid to win six New York swing districts next year, including four that just flipped Republican.

Persons: Biden, Kathy Hochul, Hakeem Jeffries Organizations: New York Democrats, New, Gov, Democrats ’ Locations: York

New York CNN —Federal prosecutors arrested three investors on Thursday on insider trading charges related to a deal to take former President Donald Trump’s media business public. The value of the securities they purchased went up sharply once the Trump deal was announced, prosecutors say. After signing non-disclosure agreements, prosecutors say they were provided confidential information that Trump Media was a potential target of the SPACs. Prosecutors say Garelick provided to his co-conspirators what he described as “intelligence” about the Trump merger negotiations and the timing of a public merger announcement. Digital World shares skyrocketed following the Trump Media merger news as investors saw it as a way to bet on the fortunes of the former president.

Persons: Donald Trump’s, Trump, Michael Shvartsman, Gerald Shvartsman, Bruce Garelick, Donald Trump, hadn’t, Garelick Organizations: New, New York CNN, Corporation, Truth Social, Trump Media & Technology Group, Digital, The Securities, Exchange Commission, Nasdaq, Trump Media, Prosecutors, Trump Locations: New York, Miami

“One of the things I would want to do as president is go to Congress and seek the repeal of the First Step Act. “At no point, as a congressman or as governor, has Ron DeSantis ever supported the final version of the First Step Act,” DeSantis campaign press secretary Bryan Griffin told CNN in an email. His rapid response director, Christina Pushaw – one of the bill’s strongest critics – once strongly backed Trump on criminal justice reform. DeSantis pointed to the First Step Act as a potential model for prison reform and re-entry programs in Florida. “We, I think, need to look at after seeing what the federal government did with the prison reform and how to do some re-entry,” the governor said.

Persons: Ron DeSantis, Donald Trump’s, ”, DeSantis, ” DeSantis, “, they’re, Ben Shapiro, –, They’ve, we’re, Doug Collins, ” Collins, resentencing –, Holly Harris –, ” Harris, they’ve, It’s, Bryan Griffin, Christina Pushaw –, Trump, Ken Cuccinelli, Steve Cortes, Mike Pence, Pence, Ivanka Trump, “ We’ve, that’s, Ivanka Organizations: CNN, Florida Gov, “, Republicans, of Justice, US, Committee, White, Justice Action Network, Republican, PAC, Operation Locations: Florida, rearrest

[1/5] Sekyiwa 'Set' Shakur poses during the posthumous Rapper Tupac Shakur's star unveiling ceremony on the Hollywood Walk of Fame in Los Angeles, California, U.S. June 7, 2023. REUTERS/Mario AnzuoniLOS ANGELES, June 7 (Reuters) - Award-winning rapper, activist and actor Tupac Shakur received a posthumous star on Wednesday on the Hollywood Walk of Fame, where his sister and fellow rappers spoke of the musician's legacy around the world. “Tupac knew deep down that he was always meant for something great,” Sekyiwa Shakur said amid the crowd of around 100 people. Shakur was killed in 1996 at age 25 in a drive-by shooting in Las Vegas that has never been solved. Tupac Amaru Shakur has become a global symbol of rebellion.

Persons: Shakur, Tupac, Mario, Tupac Shakur, “ Tupac, ” Sekyiwa Shakur, ” Shakur, ”, Outlawz, Malcom Greenidge, David Marvin, DJ Quik, E.D.I, Afeni Shakur, “, Allen Hughes, Tupac Amaru Shakur, Malcolm X, Che Guevara, Hughes, Jorge Garcia, Danielle Broadway, David Gregorio Our Organizations: Hollywood, REUTERS, Apollo, Thomson Locations: Los Angeles , California, U.S, ANGELES, Harlem, Las Vegas, California, Africa, Asia, South America, Europe

☆ Westpac H1 profit jumps on higher interest rates, flags second-half margin pressures
▼ + stars: | 2023-05-07 | by ( ) www.reuters.com time to read: +1 min

Intense mortgage competition is expected to negatively impact industry and Westpac’s margins in the next half," it said. The country's No.3 lender said net profit came in at A$4.00 billion ($2.70 billion) for the six months ended March 31, compared with A$3.28 billion a year earlier. Net interest margin - the difference between interest earned from lending and paid for deposits - rose 5 basis points from a year earlier to 1.96% at the end of March. Westpac declared an interim dividend of 70 Australian cents per share, as compared with 61 Australian cents last year. ($1 = 1.4819 Australian dollars)Reporting by Roushni Nair in Bengaluru; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ A Mexico soccer icon entered politics. Prosecutors say narcos followed
▼ + stars: | 2023-02-03 | by ( Cuernavaca | ) www.reuters.com time to read: +27 min

Regional politicians, officials and military officers gathered in the Morelos state capital of Cuernavaca for breakfast in February 2022 to mark Mexico’s annual Army day. Mexican drug lords have a long tradition of buying off politicians in exchange for government protection of their illicit trade. Attempts to reach two of the alleged drug traffickers in the photo – Figueroa and Irving Solano Vera – were unsuccessful. Prosecutors in April asked the Morelos state congress to impeach Blanco so that he could be stripped of that shield. “He likes me very much because I’m not a politician,” Blanco told Reuters, in reference to the president.

News of the FTX's fall first prompted questions to lawmakers about Bankman-Fried's political donations. Bill Cassidy of Louisiana and John Boozman of Arkansas said they would donate Bankman-Fried’s campaign contributions, though they did not specify the charities they intended to donate the money to. Bankman-Fried also poured millions into super PACs that support candidates outside of their campaigns, including the Senate Majority PAC, or SMP, a super PAC supporting Democratic Senate candidates. The disclosed sums likely don't capture the full breadth of Bankman-Fried's political spending. "The candidates who received money from dark money organizations don't really have to answer for it," Sherman said.

As a result, political observers say, public school funding is effectively on the ballot Tuesday. “These groups have been demonizing what is being taught in public schools, and that’s the fastest way to erode faith that public schools work,” Rottinghaus said. (Abbott publicly came out in support of private school vouchers two months after winning the primary with 66.5% of the vote.) Greg Abbott in the GOP primary, campaigned in support of private school vouchers. “I will never support vouchers.”Rep. John Bucy III said he will continue to oppose private school vouchers.

WelcomePAC, a Democratic-funded group that aims to reach ticket-splitting voters this fall, has launched a six-figure advertising campaign against Republican J.D. “WelcomePAC is launching the ‘Why No J.D.’ campaign to highlight why so many disaffected Republicans and independents are rejecting J.D. Luke Schroeder, a spokesperson for the Vance campaign, cast the effort as a waste of money. Ryan has tailored his message to appeal to independent and GOP voters and his campaign has far outraised Vance’s. He also spends considerable time in his stump speeches wrestling with Ryan’s overtures to GOP voters.

We took over four school boards.”“Eleven seats on school boards, took over four!” Bannon shouted as a crowd of CPAC attendees erupted in applause. In the neighboring city of Southlake, Patriot Mobile donated framed posters that read “In God We Trust” to the Carroll Independent School District during a special presentation before the school board. Nearly 200 people signed up to speak during public comments before the board vote at the school board meeting in Grapevine, Texas. Patriot Mobile paid Vanguard Field Strategies nearly $150,000 to run get-out-the-vote canvassing operations across the four school districts, according to financial disclosures. “This is the most extreme board policy that we have seen related to classroom censorship,” Huddleston said.

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