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Donald Trump ordered to pay $83m in defamation case

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A federal jury has ordered former U.S. President Donald Trump to pay $83.3 million in damages to E. Jean Carroll, a journalist who accused him of tarnishing her reputation by denying allegations of rape nearly three decades ago.

The seven-man, two-woman jury deliberated for less than three hours before reaching their verdict, awarding Carroll $18.3 million in compensatory damages and an additional $65 million in punitive damages, surpassing the $10 million she had initially sought.

Carroll, now 80, had filed the lawsuit against Trump in November 2019, following his denial of her rape allegations, which she claimed occurred in the mid-1990s at a Bergdorf Goodman department store dressing room in Manhattan.

Trump, 77, had denied ever knowing Carroll and accused her of fabricating the story to boost sales of her memoir. His legal team argued that Carroll was seeking fame and relished the attention from her supporters.

Previous trial

This verdict follows a previous ruling in May 2022, in which another jury ordered Trump to pay Carroll $5 million for defamation and sexual abuse related to similar allegations. Trump is currently appealing that decision.

U.S. District Judge Lewis Kaplan, who presided over both trials, confirmed that the earlier verdict was binding for this trial, leaving the jury only to determine the amount Trump should pay.

The legal battles, including Carroll’s case, have been part of Trump’s strategy to bolster his campaign to retake the White House in the November election. He faces 91 felony counts in four criminal indictments, maintaining his innocence and claiming to be a victim of politically motivated attacks.

Witch hunt

During the Carroll trial, Trump repeatedly criticized the proceedings, calling it a “con job” and a “witch hunt,” drawing admonishments from the judge.

Carroll’s lawyer, Roberta Kaplan, argued that this trial aimed to hold Trump accountable and prevent him from repeating his denials. Trump’s defense contended that Carroll’s newfound fame, stemming from the publication of excerpts from her memoir, led to the attacks against her.

A damages expert who testified on Carroll’s behalf estimated the harm to her reputation from Trump’s statements at $7.3 million to $12.1 million.

The verdict marks another significant chapter in the legal battles surrounding Trump, whose political ambitions continue to be intertwined with his legal troubles. E. Jean Carroll, known for her “Ask E. Jean” column in Elle and appearances on major television programs, claimed that her career suffered due to Trump’s actions.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Global markets hit record highs all thanks to AI

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Is AI the main contributor behind the soaring markets in Australia, the US, Japan, and Germany?

Financial markets worldwide have witnessed record highs, creating a wave of optimism among investors.

The surge is attributed to a combination of positive economic indicators, policy developments, and the integration of AI across key economies, including Australia, the United States, Japan, and Germany. #ticker today #featured

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Dune Part 2 sets box office ablaze with $178m worldwide

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As “Dune: Part Two” continues its intergalactic journey on the silver screen, director Denis Villeneuve’s epic sequel has ignited the international box office, amassing a stellar $97 million from 71 overseas markets.

This impressive overseas performance has propelled the film’s global tally to a promising $178.5 million, further solidifying its status as a cinematic force to be reckoned with.

Starring powerhouse talents such as Timothée Chalamet and Zendaya, “Dune: Part Two” has captured the imagination of audiences worldwide, earning widespread acclaim and enthusiastic support.

The film’s success in North American theaters, where it secured the biggest domestic opening weekend of the year with $81.5 million, has been complemented by robust ticket sales in international territories.

Large formats

The immense popularity of “Dune: Part Two” has been particularly evident in premium large formats, such as Imax, which accounted for 48% of initial sales, driving up the film’s revenue even further. Mary Parent, producer of “Dune,” remarked on the film’s cultural impact, expressing confidence in its longevity at the box office.

Despite facing challenges due to the hefty production and promotional costs—reportedly totaling $190 million and $100 million respectively—the sequel has already demonstrated its box office prowess, surpassing expectations in its initial run.

With a global audience eagerly embracing the continuation of Frank Herbert’s epic saga, “Dune: Part Two” is poised for a successful box office run.

The film’s international debut marks a significant milestone in Villeneuve’s career, achieving the largest opening weekend in all 71 markets—a testament to its universal appeal. Notable highlights include the United Kingdom, where it earned $11.8 million, as well as France ($9.6 million), Germany ($9.1 million), Korea ($6.9 million), and Australia ($6 million).

With upcoming releases in key markets such as China and Japan, “Dune: Part Two” is poised to further bolster its global box office performance.

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Can’t beat ’em, buy ’em – Will Apple buy an EV maker next?

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Tesla’s competitors, including Rivian, Lucid, and Fisker, find themselves grappling with significant challenges, sparking speculation about potential acquisitions and partnerships within the industry.

Rivian, once hailed as a formidable rival to Tesla, has faced a stark reversal of fortunes.

Following a disappointing quarter and outlook, the company announced a workforce reduction of approximately 10%, while its market capitalization plummeted from a peak of $153 billion in 2021 to $11 billion.

Speculation arose about tech giant Apple considering an acquisition of Rivian, with industry experts citing the company’s low valuation as a potential attraction.

Gene Munster, managing partner of Deepwater Asset Management, suggested that Apple, having recently abandoned its own EV project, might view Rivian as an opportunity to enter the EV market.

Apple’s bad luck

While Apple’s history of acquisitions has been relatively conservative, Munster emphasized the potential significance of such a move for the tech giant.

Meanwhile, Tesla CEO Elon Musk offered a grim assessment of Rivian’s prospects, highlighting the urgency for cost-cutting measures and operational improvements. Musk’s remarks underscored the precarious position facing Rivian as it navigates through challenging market conditions.

In a similar vein, Lucid Motors has experienced a substantial decline in its market capitalization, dropping from a peak of $91.4 billion to $7.6 billion.

The company’s production targets have been revised downwards significantly, leading to speculation about its future viability. Despite rumors of a potential acquisition by Saudi Arabia’s sovereign wealth fund, no such deal has materialized, leaving Lucid to confront its operational and financial hurdles independently.

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