FirstFT: Judge set to unseal portions of Mar-a-Lago search affidavit
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A federal judge in Florida has given the US Justice Department a week to suggest redactions to the affidavit justifying the search of Donald Trump’s Mar-a-Lago resort last week, paving the way for the public availability of certain parts of the document.
Judge Bruce Reinhart’s decision came Thursday at a highly anticipated hearing in West Palm Beach that pitted federal prosecutors, who argued to keep the affidavit sealed, against US media who want it unsealed. due to the huge public interest in the case. .
The affidavit – a detailed explanation by the Justice Department of why a search warrant was sought at the former president’s property – has remained secret since the August 8 FBI raid.
Not only did the media call for its public release, but many congressional Republicans did as well, hoping to shed light on the rationale behind the Justice Department’s decision to search Trump’s home.
The DoJ had opposed any release of the affidavit, on the grounds that it could compromise the investigation and prevent the cooperation of witnesses in this and other investigations. Federal prosecutors also said the document would need to be heavily redacted if it were to be released due to the nature of the investigation, which involves highly classified documents kept by Trump after he left the White House.
Reinhart rejected the argument that the affidavit should remain ‘fully sealed’, saying he was ‘not ready’ to keep it that way – suggesting he is tempted to partially unseal it with some level of redaction .
Last week, he authorized the release of the search warrant and list of items recovered by the FBI from Trump’s home. The documents showed that federal prosecutors were investigating the former president for improperly handling national defense information in violation of the Espionage Act, as well as obstructing justice and falsifying government documents.
Thanks for reading FirstFT Asia. Here is the rest of the news from the day. —Amanda
Five other stories in the news
1. Erdoğan supports Kyiv-Moscow peace talks Turkish President Recep Tayyip Erdoğan has said he supports peace talks between Kyiv and Moscow after meeting President Volodymyr Zelensky in Ukraine. Erdoğan continued a balancing act between the two countries, condemning the invasion and selling Ukrainian combat drones but refusing to impose sanctions on Russia.
2. Former Trump Organization CFO pleads guilty in tax case Allen Weisselberg pleaded guilty to 15 counts related to his time working as the Trump Organization’s chief financial officer. In a deal reached with Manhattan prosecutors, Weisselberg will serve five months in prison and possible five years probation if he testifies honestly in an upcoming Trump Organization trial if called.
3. Turkey surprises with lower interest rates as inflation soars Despite inflation nearing 80%, Turkey’s central bank cut its interest rate by 100 basis points. The move shocked markets and goes against the trend of central banks raising borrowing costs to contain global inflation. Rising prices and concerns over central bank monetary policies have already caused the pound to fall more than 25% this year.
Emerging Markets: Emerging market central banks are making big rate hikes as they struggle to rein in runaway inflation and rapidly depreciating local currencies. Ghana’s central bank has just hiked interest rates by 300 basis points, its biggest increase in two decades.
4. America’s Big Ten college sports league signs $7.5 billion media rights deal Major US media companies CBS, NBC and Fox have agreed to pay a record $7.5 billion deal to broadcast Big Ten college sports for seven years. The deal comes as the US college sports industry experiences huge upheaval and loosens restrictions on sponsorships.
5. China increases coal use as extreme heat causes power shortages Beijing is pledging to support its coal sector as a heat wave and months-long drought cut hydropower generation and threaten electricity supplies. Companies such as Tesla and state-owned automaker SAIC Motor have reported supply chain issues due to power shortages.
The coming days
Economic data Japan will release inflation data in July, while the UK will release monthly retail and trade figures. Germany will release July Producer Price Index (PPI) figures for industrial goods.
Japan’s consumer price index is expected to rise a record 2.4% year-on-year, topping the central bank’s inflation target of 2% for a fourth month. (Reuters)
UK transport strikes Walkouts on trains, metros and buses will continue until the end of the week, with three unions planning to strike for pay rises to fight inflation. It is one of many walkouts this summer, which marks the biggest industrial action on the UK’s public transport network for a generation.
Vote of no confidence in Montenegro Prime Minister Dritan Abazović’s minority government faces a no-confidence vote today after Abazović signed a controversial agreement with the powerful Serbian Orthodox Church. The deal was met with opposition from human rights activists and pro-Western parties. (Euronews)
What else we read
How South Korea learned to love private equity Twenty-five years after the Asian financial crisis, the value of private equity deals in South Korea hit an all-time high of nearly $30 billion, surpassing Japan by $2 billion. Seoul’s achievements in private equity reflect the transformation of the country’s once-tumultuous relationship with foreign capital.
Odessa struggles to come back to life after Russian port blockade lifted Tentative optimism returned to Odessa after a multilateral agreement last month resumed shipments of grain to world markets. The port of Odessa is one of the most crucial international supply routes for grain and has been choked off since Russia invaded in February, sending world food prices soaring.
Village wedding caught in Taliban battle for Kabul In August 2021, residents of Dost Kol – a hamlet in the hills an hour west of Kabul – prepared to celebrate the wedding of Mohammad Ullah with a bride from a nearby village. But the next 24 hours were tragic.
The extraordinary rise of TikTok signals a more multipolar internet Popular in over 150 countries, TikTok has left the West Coast’s best and fastest in the dust. The coolest app for young users, the rise of TikTok could symbolize a moment in the evolution of cyberspace: the sinicization of the global internet, writes John Thornhill.
Ravinder Bhogal presents a menu with Sicilian flavors, from caponata to sardine pasta and apricot ricotta cake, all borrowed from a baptism she fell in love with this summer.
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