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ECB Governing Council member Knot: The central banks monetary policy meeting (decision) in June will be very complicated. Medium-term inflation risks actually include both upside risks and downside risks.On April 28, sources said that the ECB decision-makers are increasingly confident that they will cut interest rates in June in response to the continued decline in inflation, but they will not make a large cut. Last week, several ECB members attended the Spring Meetings of the International Monetary Fund (IMF) and the World Bank and talked about the possibility that the eurozone and global economy may deteriorate due to US tariffs. At the same time, the latest economic data released by the eurozone also reflects this phenomenon. As for inflation, there is no sign of deterioration due to tariffs. Sources said that more ECB members believe that it is a more appropriate decision to make the eighth consecutive interest rate cut of 0.25% at the interest rate meeting on June 4. The ECB will also release its latest economic forecasts on the same day. However, ECB officials remain open-minded and will make a final decision based on the data released next month.Russian Foreign Minister Lavrov: Russia has not received any proposal from the United States to assist in the operation of the Zaporizhia nuclear power plant.Russian Foreign Minister Lavrov: Russia will continue to strike targets used by the Ukrainian military as well as foreign fighters and military instructors sent by Europe.According to the Russian Ministry of Emergency Situations, a passenger plane from Moscow to Nalichik, the capital of the Kabardino-Balkarian Republic, returned to the airport due to a malfunction of the cabin pressurization equipment after takeoff on April 27. The plane has landed safely at Moscow Sheremetyevo Airport. It is reported that the plane involved in the accident was a Boeing-737 belonging to Russias Victory Airlines.

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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