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Election-tech company Smartmatic's $2.7 billion defamation suit regards Fox's reporting on 2020 voting fraud claims. But Smartmatic’s attorneys suggest the separate succession fight over Murdoch's media empire might shed light on any Fox Corp. involvement in editorial matters. It's an important, if technical, question as Smartmatic seeks to hold the deep-pocketed Fox parent company responsible for statements that the news network aired. Fox contends that there's no such liability and that it was engaging in journalism, not defamation, when it broadcast election-fraud allegations made by then-President Donald Trump 's attorneys. Rupert Murdoch may already have given a deposition — out-of-court questioning under oath — in the defamation suit. Such records aren't public at this stage, but plans for his deposition were briefly mentioned at a 2022 hearing. Smartmatic now is seeking to talk to Murdoch about his efforts to rewrite his plans for his businesses after his death. The matter is playing out behind closed doors and in sealed files in a Nevada probate court. The New York Times has reported that Rupert Murdoch wants to keep his eldest son, Lachlan , in charge of the conglomerate's newspapers and television networks in order to ensure a continued conservative editorial outlook . Smartmatic wants to get the 93-year-old patriarch on record while the probate matter plays out, company attorney Edward Wipper told a judge Monday. Fox News lawyer K. Winn Allen said the probate case “has nothing at all to do with” Smartmatic's claims and is “not appropriate” fodder for the suit. Fox Corp. declined to comment after court. Fox News' lawyers, meanwhile, want Smartmatic to provide records about a U.S. federal criminal case against people, including Smartmatic co-founder Roger Piñate, accused of scheming to bribe a Filipino election official . Piñate has pleaded not guilty. Smartmatic isn't charged in the criminal case, and Smartmatic attorneys have said the matter was irrelevant to the defamation suit. Fox lost prior bids for a court order to get the information, but a hearing on the network's renewed request is set next week. It's unclear how soon Judge David B. Cohen will decide on that request or on Smartmatic's bid to dig into the Murdoch family trust case. Both requests are part of pretrial information-gathering, and no trial date has been set. Smartmatic says it was a small player, working only with California's heavily Democratic Los Angeles County, in the 2020 U.S. presidential election. In subsequent Fox News appearances, Trump lawyers Rudy Giuliani and Sidney Powell portrayed Smartmatic as part of a multi-state scheme to steal the vote from the Republican. Federal and state election officials , exhaustive reviews in battleground states and Trump’s own attorney general found no widespread fraud that could have changed the outcome of the 2020 election. Nor did they uncover any credible evidence that the vote was tainted. Dozens of courts, including by judges whom Trump had appointed, rejected his fraud claims. Fox News ultimately aired an interview with an election technology expert who refuted the allegations against Smartmatic — an interview done after the company demanded a retraction . The network is countersuing Smartmatic , claiming it violated a New York law against baseless suits aimed at squelching reporting or criticism on public issues. The New York defamation suit is one of several stemming from conservative-oriented news outlets' reports on Trump’s 2020 vote-rigging claims. Smartmatic recently settled with One America News Network and Newsmax . Fox News settled for $787 million last year with Dominion Voting Systems, another election-technology company that sued over conspiracy theories blaming its election equipment for Trump’s 2020 loss.Alrajhi Endowment (Benaa) Recognized For Outstanding Community Contributions At HBC 2024 International AwardsBIG 12 THIS WEEKAutry scores 16 as George Washington downs Illinois State 72-64
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Tech billionaire Elon Musk spent at least $270 million to help Donald Trump win the US presidency, according to new federal filings, making him the country's biggest political donor. SpaceX and Tesla CEO Musk, the world's richest person, was an ardent supporter of Trump's White House campaign -- funneling money into door knocking operations and speaking at his rallies. His financial backing, which has earned him a cost-cutting advisory role in Trump's incoming government, surpassed spending by any single political donor since at least 2010, according to data from nonprofit OpenSecrets. The Washington Post reported that Musk spent more this election cycle than Trump backer Tim Mellon, who gave nearly $200 million and was previously the Republican's top donor. Musk donated $238 million to America PAC, a political action committee that he founded to support Trump, filings late Thursday with the Federal Election Commission showed. An additional $20 million went to the RBG PAC, a group that used advertising to soften Trump's hardline reputation on the key voter issue of abortion. Musk has been an ever-present sidekick for Trump since his election victory in November, inviting him to watch a rocket launch in Texas by his SpaceX company. Trump has selected the South African-born tycoon and fellow ally Vivek Ramaswamy to head the so-called Department of Government Efficiency, through which the pair have promised to deliver billions of dollars of cuts in federal spending. However, with Musk's businesses all having varying degrees of interactions with US and foreign governments, his new position also raises concerns about conflict of interest. The president-elect has nominated several people close to Musk for roles in his administration, including investor David Sacks as the so-called AI and crypto czar. Meanwhile, billionaire astronaut Jared Isaacman, who has collaborated with Musk's SpaceX, was named the head of US space agency NASA. (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.) Track Latest News Live on NDTV.com and get news updates from India and around the world
Shares of electric vehicle (EV) and related stocks Lucid Motors ( LCID 3.33% ) , QuantumScape ( QS 3.68% ) , and Navitas Semiconductor Corporation ( NVTS 14.88% ) rallied today, up 3.3%, 3.7%, and 14.9%, respectively, in Monday's trading. The commonality among all three stocks is their leverage to the EV and clean energy markets. Such stocks have taken a pounding this year, at first because of the big slowdown in EV sales amid higher interest rates. And these stocks took another severe downturn recently after the election of Donald Trump. But with these stocks now trading at severely depressed levels, any positive news was likely to spark a relief rally. And the EV sector got some of that very relief today. California to make up for a lost federal EV tax credit It had been feared by many investors in the EV and renewable energy space that incentives for clean energy under the Biden administration's Inflation Reduction Act would be repealed by the incoming Trump administration. Notably, a repeal of the federal tax credit for EV purchases could lead to a 30% decline in EV sales, according to a recent paper led by researchers at UC Berkeley. But today, California Governor Gavin Newsom announced that the state would make up the federal EV tax credit, which goes up to $7,500 per purchase, if that federal tax credit is repealed. According to Newsom, the money could come from California's Greenhouse Gas Reduction Fund. That's paid for by polluters under the state's cap-and-trade program. Interestingly, Newsom is proposing market-share restrictions on the potential new state tax credit, which would likely cut Tesla ( TSLA -3.96% ) out of qualifying. Although Tesla's market share has been declining in California, it still accounted for 54.5% of all new EV registrations in the state this year, down from 63% in 2023. The proposal smells of a potential reprisal toward Elon Musk, who has been involved in several public fights with Newsom over the past few years and who was a big donor to President Trump. For its part, the governor's office merely said the restriction was about "creating the market conditions for more of these car makers to take root." A Tesla exclusion has the potential to disproportionately benefit Lucid, which makes high-end EVs that compete with Tesla's Model S and X vehicles. Lucid has been making some progress with its high-end Air sedans and recently launched its Gravity SUV. However, Lucid's sales are still far below its expenses, with massive losses accumulating. In October, Lucid diluted its shareholders again , selling over 600 million shares to Saudi Public Investment Fund (PIF) even with the stock at multiyear lows. So, it could certainly use California's help. Additionally, QuantumScape is a pre-revenue company aiming to commercialize its solid-state battery technology. That technology would also compete with the lithium-ion batteries used by basically all EV automakers today, including Tesla, which has invested in its own lithium-ion battery technology and production. Finally, Navitas is a small-cap chipmaker that produces silicon carbide and gallium nitride chips for the EV, solar, and data center markets. Perhaps due to its small size and the fact it's down a whopping 65% on the year, its stock rallied the hardest on the prospect of better EV sales. A turnaround or dead-cat bounce? So, is today's EV-related rally the beginning of a turnaround or a dead-cat bounce ? As of now, it's pretty hard to say. The EV market has been in a severe slowdown this year, even with the EV tax credit in place, due to higher interest rates and a post-pandemic hangover. Furthermore, it's difficult to know even if the tax credit will be repealed and what exactly California's remedy will look like. While it's tempting to call a bottom in EV stocks, these three stocks still seem pretty risky due to their loss-making nature. For those willing to gamble on a bottom in the EV market, you might want to look at more profitable stocks in the sector .Real-Time Pricing, Real Impact: Pagoda's ESL Journey with ZKONGPenn State wins trademark case over retailer's use of vintage logos, images
USC loses veteran WR Kyron Hudson to transfer portal(The Center Square) – Prosecutors introduced secretly recorded audio and video along with a troubled star witness at the public corruption trial of former Illinois House Speaker Michael Madigan. Former Chicago Alderman Daniel Solis returned to the Everett McKinley U.S. Courthouse Monday. Solis is facing one federal count of bribery under a deferred prosecution agreement. The ex-alderman began cooperating with federal investigators in 2016. U.S. government attorney Diane MacArthur first introduced a recording of Madigan and Solis nearly two years before the alderman started cooperating with the government. The recording involved a conversation with Chinese developer, See Wong, who wanted to build a hotel on a parcel of land in Chicago’s Chinatown neighborhood. The land was owned by the state of Illinois at the time, but Solis said a zoning change would be required from the city in order for a hotel to be built. At Madigan’s request, Solis said he facilitated the meeting on Aug. 8, 2014, at Madigan’s law firm, Madigan and Getzendanner, about the land along Wentworth Avenue between Archer Avenue and Cermak Road. Madigan’s law partner, Bud Getzendanner, discussed how successful the firm had been in working with hotels to make sure they were not taxed more than necessary. ”A large component of your expense for hotels is real estate taxes,” Getzendanner said during the recorded meeting. Getzendanner said the firm charged 12.5% of the tax savings obtained. Madigan told Wong and an interpreter about the quality of service his firm provided. “We don’t take a second seat to anybody,” Madigan said. The developer then asked for a picture with Madigan and Solis. Solis told the group that Wong would benefit from working with Madigan. “If he works with the Speaker, he will get anything he needs for that hotel,” Solis said on the recording. Solis testified that he meant the city would provide the zoning change the developer needed from the city if the developer hired Madigan’s law firm. Solis said the zoning change was approved, but the proposed hotel was never built. MacArthur asked Solis about the bribery charge he is still facing, which Solis said involved the redevelopment of a property in Chicago from a restaurant to a residential building in 2015. Solis said two problems prevented the project from moving forward: labor unions’ perceived lack of representation in the development and residents' concerns in the ward. The former alderman admitted that he solicited a campaign contribution from the developer or from one or more of the developer’s vendors while the project’s zoning change was still under consideration. Solis said he believed the developer was on board and that he would be getting donations from the developers’ vendors. The zoning change was approved by the city council, Solis said. He testified he solicited and accepted campaign contributions from other developers who had matters pending before the city council’s zoning committee. Solis then testified about about a variety of things like massages that turned sexual, trips to Las Vegas, tickets to professional sporting events, no-paperwork six-figure loans he'd paid back. He even admitted to an extramarital affair he had with an interpreter. Solis said he was separated from his wife for about five years and their house went into foreclosure. He also confessed that he lied to a collection agency by saying he was out of work. MacArthur asked Solis about his sister, Patti Solis Doyle, who worked on campaigns for former Chicago Mayor Richard M. Daley, former President Bill Clinton and former U.S. Senator Hillary Clinton, D-New York. Solis Doyle also managed Hillary Clinton’s presidential campaign in 2008. Solis said his sister was involved in a hotel project in which the developer offered her $100,000. Solis said his sister offered to split the sum with her brother. As chairman of the city’s zoning committee, Solis said he told his sister he could not accept money regarding a hotel development. Solis said his sister told him there would be another way she could compensate him. The former alderman said he did receive funds from his sister for referring her to his friend Brian Hynes’ state vendor assistance program. Monday afternoon, Solis testified that FBI agents visited his home on June 1, 2016, and played audio and video recordings. After considering an attorney, Solis said he decided to cooperate with the FBI a few days later and agreed to let investigators tap his phone. Solis also said he told an attorney friend that he was cooperating with the FBI in regard to an investigation of an organization he was involved in. Solis said he made recordings for several investigations he was involved in as part of his deferred prosecution agreement. He began communicating with Madigan after receiving a voicemail message on June 12, 2017. Solis said he discussed the Chinatown land deal, his interest in getting a state board appointment, and referring clients to Madigan’s law firm while cooperating with the government from June 2016 to December 2017. Solis admitted that he was not really interested in a state board appointment, but he raised the issue with Madigan at the direction of law enforcement. Solis said he began communicating with Madigan codefendant Michael McClain about the Chinatown parcel in the fall of 2017. He said he had to continue to perform his duties as an alderman while cooperating with the FBI because of “the farce” that he was involved in. Solis discussed a 2017 redevelopment project that required a zoning change involving a Union West development in Chicago’s West Loop. MacArthur played a recording, dated June 12, 2017, of Madigan asking Solis about the development. During the call, Solis told the speaker he would try to arrange an introduction for Madigan with the developers. In a subsequent call, Solis promised to arrange a meeting and said, “I think these guys get it, the quid pro quo and how it works.” When MacArthur asked Solis why he said that, Solis said he didn’t know and said it was “dumb.” MacArthur asked Solis if he used the words “quid pro quo” at the direction of law enforcement. “No,” Solis said. Union West developer Andrew Cretal agreed to meet with Madigan and told Solis, “confidentially,” that his company was working with Goldman Sachs as an equity partner and that he would “circle back” with Solis. MacArthur played a recording of Madigan privately telling Solis not to use the words, “quid quo pro.” The conversation immediately preceded the meeting Cretal and the Union West group had at Madigan's and Getzendanner’s law office. During the meeting, Madigan repeated to Cretal’s group what he had said to See Wong. “We don’t take a second seat to anybody,” Madigan said. Solis said he met with Madigan again privately after the meeting with the intention of discussing the Chinatown parcel. Solis said he had been having frequent meetings about the land with potential developers. During the recording, Solis said that nothing could really happen until the state transferred the land. Connie Mixon, professor of Political Science and director of the Urban Studies Program at Elmhurst University, served as an expert witness at the corruption trial of longtime Chicago Democrat Ed Burke, who served on the city council from 1969 to 2023. A jury convicted Burke in December 2023 on 18 counts of racketeering, bribery, attempted extortion and conspiracy to commit extortion and using interstate commerce to facilitate an unlawful activity. Mixon said that Solis also testified as a cooperating witness during Burke’s trial. “It seemed as if, in the sentencing for the Burke trial, the judge did take a bit of exception to the fact that Solis, who also had potential criminal charges, was essentially getting away without any sort of repercussions,” Mixon told The Center Square. Mixon described Solis as a damaged witness. “He’s absolutely damaged, but as much as he’s damaged, you have the words on the wiretap. Having the defendants’ words played in the courtroom, they are really the witness against themselves when you have those wiretaps,” Mixon explained. Before the jury was seated Monday morning, prosecutors said they would provide the court with revised jury instructions by Dec. 3. Judge John Robert Blakey said he could deny admittance of new materials after that date if he deemed them to be untimely. Madigan and McClain are charged with 23 counts of bribery, racketeering and official misconduct. The trial is scheduled to resume Tuesday morning in Chicago.None
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