Category Archives: economy

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Trump, who could not raise enough money, was furious and scolded all night!

On the 18th, a lawyer for former US President Donald Trump told the court that Trump did not have enough cash to appeal against a $45.4 billion fine. Media analysts believe that this may lead to Trump facing asset forfeiture.

Rumors of imminent bankruptcy followed on the Internet, dealing a humiliating blow to Trump’s carefully crafted image of a self-made business tycoon.

Related terms such as Trump’s bankruptcy have been on the top search list of social media platform X.

That night, Trump cursed all night on his social media platform TS, posting more than a dozen posts in a row.

Trump’s fury was triggered by a lawsuit he lost that exaggerated his assets. On Feb. 16, New York State Supreme Court Justice Arthur Ngoren ruled that the Trump family had been granted loans and tax breaks by exaggerating their net worth for years, a move suspected of fraud and sentenced to a fine of $45.4 billion.

It is reported that Trump is appealing the outcome of the trial, but if he wants to continue the appeal and prevent New York from enforcing the verdict, he will need to pay the deposit in full, which is due at the end of March.

Even if there is more money, it will be difficult to come up with more than $400 million at once, not to mention the chances that Trump does not have so much liquidity. The New York Times recently calculated that Trump has about $3.5 billion in cash on hand, while most of his wealth is related to real estate investments.

Trump reportedly said he had contacted about 30 guarantees through four different brokers and spent countless hours negotiating with one of the world’s largest insurances. However, potential guarantees seek to get Mr Trump to pay cash so that they do not consider using Mr Trump’s assets as collateral for margin.

To make matters worse, earlier this month, Trump paid a $91.6 million deposit in an appeal against the Carroll libel case.

Therefore, it is a bit difficult to spend more than US $400 million.

In response, Trump complained in a post on social media on the 18th that the amount of the deposit was unconstitutional, unAmerican, unprecedented, and almost impossible for anyone (including anyone as successful as me).

Trump posted a short composition on social media after 6: 00 a.m. on the 19th.

It is precisely because it is impossible that Trump seems to have insomnia, scolding the relevant sentences and judges and prosecutors all night. I will be forced to mortgage or sell important assets and may be able to sell them at a low price, and even if I win the appeal, they will cease to exist, Trump said in the post. Does it make sense? it’s witch hunting, interfering in elections!

Trump also raised the impact of the case to a level that affected the New York state economy, saying bluntly that New York companies would be scared to run away when they saw the case.

If you scold, the problem must be solved. Analysts believe that there are several options in front of Trump.

First, the time given by prosecutors is not yet up, so Mr Trump still has time to sell assets quickly or seek help from wealthy supporters.

In addition, his lawyer has appealed to a higher court for a deposit of about $100 million. At the same time, New York State prosecutors may, out of tolerance, give the former president more time to raise money.

As Trump’s last card, he can also ask the Trump Organization involved in the case to file for bankruptcy, which will automatically suspend the verdict against the entity. However, Trump is running for the US presidential election in 2024, a politically worrying choice, and he is likely to be reluctant to file for bankruptcy because of the trauma left by Trump’s bankruptcy filing in the 1990s.

To say the least, filing for bankruptcy is not a panacea. Legal experts say seeking court protection could raise a series of new problems, such as the risk of default on his loans after filing for bankruptcy, which could further spark lawsuits over whether Mr Trump is still liable to repay his debts. About a week ago, Trump locked in the Republican presidential nomination in the 2024 election, and there are still about eight months to go, during which time the campaign expenses are not small.

If none of these options happens and Mr Trump is unable to raise the money, Mr Trump’s assets may indeed be confiscated after March 25.

Article | Reporter’s coolness

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According to a report by the Wall Street Journal on July 15, people familiar with the matter revealed that business tycoon Elon Musk said he plans to donate about $45 million a month to a new super political action committee that supports former President Trump.

Reported that other supporters of the newly established U.S. Political Action Committee include Palantil technology co-founder Joe Lonsdale, the Winkleworth brothers, former U.S. ambassador to Canada Kelly Craft and her husband Joe Craft.

According to a person familiar with the matter, the political action committee, established in June, is mainly responsible for registering voters, persuading voters to vote as soon as possible, and requiring ballots to be mailed in swing states.

Musk is currently the richest man in the world, with an estimated wealth of more than US$250 billion. But the amount of donations he said was also staggering.

According to reports, the largest known campaign donation in 2024 to date is $50 million, donated by the great-grandson of banker Thomas Mellon to support one of Trump’s super political action committees.

According to documents submitted on the 15th, as of June 30, the U.S. Political Action Committee received a total of US$8.75 million in donations. A person familiar with the matter said Musk said he plans to start donating in July.

The report also said that Musk officially expressed support for Trump shortly after the shooting. He posted on social platform X: The last time a presidential candidate encountered such a severe test was Theodore Roosevelt. (Compiled by Pan Xiaoyan)

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Brussels, March 21 (Reporters Fu Yiming and Zhang Zhaoqing) European Council President Michel announced on the 21st that the European Council decided on the same day to start negotiations for Bosnia and Herzegovina to join the EU.

The EU summit was held in Brussels, the capital of Belgium, that day. Michel said on social media that night that the European Council had just decided to start accession negotiations with Bosnia and Herzegovina. The decision was a key step for Bosnia and Herzegovina on the road to joining the EU, but Bosnia and Herzegovina still needs to continue its efforts.

Bosnia and Herzegovina submitted its application to join the European Union in February 2016, and the European Council decided in December 2022 to grant Bosnia and Herzegovina candidate membership status in the European Union. On the 12th of this month, the European Commission recommended that the Council of the European Union launch accession negotiations for Bosnia and Herzegovina.

Before the formal launch of accession negotiations, some procedures still need to be gone through within the EU. The process of accession negotiations generally lasts for several years.

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On the 24th local time, Sandis Saka, governor of Enga Province, Papua New Guinea, publicly issued a document saying that the landslide that occurred in the province in the early morning of the day was an unprecedented natural disaster that caused huge losses to property and human lives. The landslide affected more than six villages in the province, and it is not yet possible to calculate specific losses.

Sandis Saka expressed sympathy to local communities and families, as well as to the people affected by the disaster and the victims.

Sandis Saka said that the Nga provincial government deployed a Rapid Incident Response Service team to the scene that morning to carry out rescue work and conduct a rapid assessment of the extent of local damage. The team is composed of officials from the Provincial Disaster Relief Office, Provincial Health Bureau, Police, Papua New Guinea Defense Force, and international organizations based in Papua New Guinea such as the Office of International Migration and the United Nations Development Program.

At about 3 a.m. local time on the 24th, a village in Enga Province, Papua New Guinea suffered a landslide. Local residents said the estimated death toll exceeded 100. Authorities have not yet confirmed the number of casualties. (General reporter Liu Zhimin)

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According to a report by the Tass news agency on March 20, a powerful Russian department revealed that Russian troops had destroyed the foreign mercenary base in Kharkiv, eastern Ukraine.

Russia’s powerful ministry said: Many mercenary bases have emerged in Kharkiv, one of which has been destroyed.

According to a report by the Russian News Agency on March 20, Sergei Lebedev, coordinator of the Nikolaev underground organization, revealed that Russian troops attacked a factory in Kharkiv where soldiers from the Intelligence Directorate of the Ministry of Defense of Ukraine had participated in the attack on Belgorod, Russia.

Reports said that Lebedev provided relevant videos of the Russian attack. He said: During the day today,(Russian troops) launched a strike on the city of Kharkiv and attacked the drone production department. The factory where this production department is located is divided into an electrical equipment factory and the 115th armored factory. The drones produced are of good quality. There were deployed military personnel from the General Intelligence Service, those who attempted to attack Belgorod Oblast.

According to reports, according to information obtained by the underground organization, the Russian army also eliminated drone assembly workers and foreign experts.

It is reported that this workshop has produced vampire six-axis drones. The Ukrainian army and Security Service sealed off the area where the factory was located after the Russian attack. (Compiled by Li Ran)

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Seoul, March 18 (Reporters Lu Rui and Sun Yiran) The so-called Third Democracy Summit led by the United States was held in Seoul, South Korea from the 18th to the 20th. South Korean citizen groups held a rally in central Seoul on the 18th to protest the so-called democracy summit.

According to local media reports, South Korean citizens ‘group National Popular Action held a press conference near the venue of the Democracy Summit on the same day to express their protest. People held banners that opposed the democracy summit held to maintain U.S. hegemony, and shouted slogans such as the democracy summit spreading false democracy and condemning Yin Yue’s government for blindly following the U.S. -centered value alliance.

Some rally participants said that the United States decided to hold the democracy summit in South Korea. Its intention was very obvious, to maintain its hegemony that was gradually collapsing and push South Korea to the front line of camp confrontation.

South Korea’s “Jingxiang Shimbun” published a commentary on the 17th, saying that the so-called democracy summit with the logic of camp confrontation does not have much support around the world, but South Korea has taken the lead in promoting the new Cold War values of the United States. Whether such an approach will help South Korea’s national interests is questionable.

Under the banner of democracy, the United States held the so-called democracy summit via video in December 2021 and a combination of online and offline in March 2023, which have been widely questioned by the international community.

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According to a Reuters report on March 12, the Russian Ministry of Foreign Affairs summoned the Swiss ambassador to Russia on the 12th because the Swiss Parliament approved a motion authorizing the Swiss government to try to confiscate and transfer Russian assets and provide funds for compensation to Ukraine.

Reports said that Russia summoned Swiss Ambassador Krestina Matilan to protest against the adoption of the above motion by the Swiss Parliament. The motion authorizes the Swiss government to establish a compensation mechanism based on international law for countries that have suffered so-called illegal attacks.

The Russian Ministry of Foreign Affairs said: Russia strongly condemns this practice by the Swiss authorities, which seriously violates the basic principles and norms of international law on state immunity.

Any infringement of Russian state-owned property under the guise of a far-fetched compensation mechanism is nothing more than theft at the national level.

The Russian Foreign Ministry said Russia would retaliate if the Swiss plan was implemented. The Swiss Ministry of Foreign Affairs did not immediately respond to a request for comment.

Switzerland said last year it had frozen about 7.7 billion Swiss francs (US$88.1 billion) in financial assets belonging to Russians under sanctions designed to punish Russia for attacking Ukraine. (Compiled by Lu Di)

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According to a reporter from the head office, on May 22, local time, Norway and Spain respectively announced that they would formally recognize the Palestinian state on May 28. Ireland subsequently announced its formal recognition of the State of Palestine.

From mid-April to early May, Barbados, Jamaica, the Bahamas and other countries have announced the recognition of the State of Palestine. At this stage, nearly 150 countries have recognized the Palestinian State.

What does it mean that more and more countries recognize a Palestinian state?

Three European countries recognized the State of Palestine on the same day

Norwegian Prime Minister Stetler announced on May 22 that Norway will recognize a Palestinian state. Mr Stiller said the approval would take effect on May 28.

Subsequently, Spanish Prime Minister Sanchez announced that the country would recognize a Palestinian state on May 28. In addition, Irish Prime Minister Simon Harris also said that Ireland will formally recognize the Palestinian state.

Israel: recall Ambassador Palestine: welcome the decision of the three countries

After Norway and other three countries announced their recognition of the Palestinian state, Israeli Foreign Minister Katz immediately said that he would recall Israel’s ambassadors to Norway and Ireland. Katz said the move sent a clear message to Norway and Ireland that Israel would not remain silent.

It is reported that Israel has also recalled its ambassador to Spain, but the Israeli Foreign Ministry has not yet publicly confirmed the recall of the ambassador to Spain. Katz will also summon the ambassadors of the three European countries to Israel to condemn the three countries’ decision to recognize a Palestinian state. It is reported that Katz will show ambassadors a video of Israeli female soldiers being detained by Hamas militants.

Palestinian President Abbas issued a statement highly appreciating and welcoming the recognition of the Palestinian state by the three European countries on the same day. The statement said that the decision of the three countries is a salvation of the Palestinian-Israeli two-state solution, which urges all countries in the world to follow the example of Norway, Ireland and Spain to recognize the Palestinian state and support the realization of peace and stability on the basis of the two-state solution.

On the same day, the Palestinian Islamic Resistance Movement (Hamas) also issued a statement welcoming the initiative of the three European countries.

Recently, these countries have recognized the Palestinian state one after another.

On 19 April, Barbados announced its decision to formally recognize Palestine as a State.

On 22 April, the Ministry of Foreign Affairs of Jamaica issued a statement formally recognizing the State of Palestine.

On 2 May, Trinidad and Tobago decided at a cabinet meeting to formally recognize the State of Palestine.

On 7 May, the Ministry of Foreign Affairs of the Bahamas issued a statement that the Bahamas had decided to formally recognize the State of Palestine.

On May 10, the tenth emergency special session of the United Nations General Assembly adopted a resolution by a vote of 143 to 9, with 25 abstentions, determining that the State of Palestine was qualified as a member of the United Nations under the Charter of the United Nations and should be accepted as a member of the United Nations.

What does it mean for more and more countries to recognize a Palestinian state?

Qin Tian, Deputy Director of the Middle East Research Institute of the China Institute of Modern International Relations:

On 10 May, the tenth emergency special session of the United Nations General Assembly adopted a resolution by an overwhelming majority, affirming that the State of Palestine conforms to the membership of the United Nations as stipulated in the Charter of the United Nations and should be accepted as a member of the United Nations. This has put some pressure on some Western countries.

At the same time, Israel has stepped up its offensive against Rafah in southern Gaza, casting a shadow over the prospect of peace between Palestine and Israel. Under this pressure, countries that do not have too deep ties with Israel are the first to take the step of diplomatically recognizing a Palestinian state.

Although this is only the behavior of some countries, the impact is considerable, which exerts certain pressure on Israel, which is diplomatic and moral support beneficial to Palestine. It will also help the two sides to reach a Palestinian-Israeli peace settlement on a more equal basis in the future.

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On the 24th local time, Sandis Saka, governor of Enga Province, Papua New Guinea, publicly issued a document saying that the landslide that occurred in the province in the early morning of the day was an unprecedented natural disaster that caused huge losses to property and human lives. The landslide affected more than six villages in the province, and it is not yet possible to calculate specific losses.

Sandis Saka expressed sympathy to local communities and families, as well as to the people affected by the disaster and the victims.

Sandis Saka said that the Nga provincial government deployed a Rapid Incident Response Service team to the scene that morning to carry out rescue work and conduct a rapid assessment of the extent of local damage. The team is composed of officials from the Provincial Disaster Relief Office, Provincial Health Bureau, Police, Papua New Guinea Defense Force, and international organizations based in Papua New Guinea such as the Office of International Migration and the United Nations Development Program.

At about 3 a.m. local time on the 24th, a village in Enga Province, Papua New Guinea suffered a landslide. Local residents said the estimated death toll exceeded 100. Authorities have not yet confirmed the number of casualties. (General reporter Liu Zhimin)

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Jerusalem, March 20 (Reporters Lu Yingxu and Wang Zhuolun) The Israel Defense Forces and Israel’s National Security Directorate (Sinbet) issued a statement on the 20th saying that since last week, Israeli warplanes have killed four Palestinian Islamic Resistance Movement (Hamas) senior commander in the Gaza Strip.

The statement said that when Israeli warplanes attacked the southern Gaza Strip city of Rafah on the 18th, three Hamas Emergency Committee officials were killed and another person was injured. They are responsible for organizing terrorist activities and assisting the Hamas military wing in controlling the Gaza Strip.

As of now, Hamas has not responded to this matter.

The Israeli army said in this statement that Israeli warplanes also killed Nidal Eide, head of the Rafah Emergency Committee, last week.

According to data released by the Palestinian Gaza Strip Health Department on the 20th, Israeli forces ‘attacks on the Gaza Strip in the past 24 hours have killed a total of 104 people and injured 162 others. Since the outbreak of a new round of Palestinian-Israeli conflict in October last year, Israeli military operations in the Gaza Strip have caused more than 3.19 million deaths and nearly 740,000 injuries.