A federal judge in Florida on Monday moved to dismiss a government case against former US president Donald Trump that focused on his alleged possession of classified documents after he left office.
Judge Aileen Cannon, who was appointed by Trump, dismissed the federal indictment because she believes naming special counsel Jack Smith to the case was a breach of the Appointments Clause in the US Constitution.
“Is there a statute in the United States Code that authorises the appointment of Special Counsel Smith to conduct this prosecution? After careful study of this seminal issue, the answer is no,” she said in her ruling.
Ms Cannon argued that the Department of Justice's appointment of an independent special counsel – Mr Smith – to oversee legal cases against Trump was unconstitutional and encroached on legislative powers.
“The special counsel’s position effectively usurps that important legislative authority, transferring it to a head of department, and in the process threatening the structural liberty inherent in the separation of powers,” she wrote.
Her decision threatens a long-standing practice of the Justice Department to appoint prosecutors to independently handle sensitive and controversial cases that involve presidents or high-level people within their administration to assuage public concern and reach justice fairly.
It is expected Mr Smith will appeal the ruling, which would take place through the Atlanta-based 11th Circuit Court of Appeals.
Trump has been accused of storing hundreds of classified documents in his Florida home and Mar-a-Lago resort after his presidency ended in January 2021.
Many of the files were marked “confidential”, “secret” and “top secret”, meaning the materials required the highest level of security clearance to view.
Some also were marked “Scif”, which requires that they be stored in a “sensitive compartmented information facility” with extra security and specific clearances.
The Republican presidential candidate has pleaded not guilty to 40 counts of conspiring to hide the sensitive documents, obstruction of justice for not co-operating with the government to return all of the files, and making false statements.
Filed in June 2023, the case became the first time a former US president has been indicted by a federal grand jury.
Trump reacted positively to the news in a post on Truth Social: “Let us come together to END all Weaponisation of our Justice System, and Make America Great Again!”
The case is seen as one of most serious and challenging of the many legal charges Trump is facing.
“As we move forward in Uniting our Nation after the horrific events on Saturday, the dismissal of the Lawless Indictment in Florida should be just the first step, followed quickly by the dismissal of ALL the Witch Hunts,” he wrote, making a reference to a fatal shooting at a Pennsylvania rally on Saturday, during which he was grazed by a gunshot.
In late May, Ms Cannon indefinitely postponed the trial for the case, which was scheduled to begin on May 20.
Ms Cannon's handling of the case has been controversial as she was appointed by Trump during his presidency and critics have said she has worked to delay the legal proceedings.
Her decisions have been overturned several times by the 11th Circuit Court of Appeals.
The Justice Department has also accused Ms Cannon for giving “extraordinary relief” to Trump and his defence team in the case.
The agency said in 2022 that she “continues to cause significant harm to the government and the public” with her rulings, specifically ones requiring a special master review of government documents.
The 11th Circuit agreed and said Ms Cannon had “improperly exercised equitable jurisdiction”.
The low down
Producers: Uniglobe Entertainment & Vision Films
Director: Namrata Singh Gujral
Cast: Rajkummar Rao, Nargis Fakhri, Bo Derek, Candy Clark
Rating: 2/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Six things you need to know about UAE Women’s Special Olympics football team
Several girls started playing football at age four
They describe sport as their passion
The girls don’t dwell on their condition
They just say they may need to work a little harder than others
When not in training, they play football with their brothers and sisters
The girls want to inspire others to join the UAE Special Olympics teams
8 traditional Jamaican dishes to try at Kingston 21
- Trench Town Rock: Jamaican-style curry goat served in a pastry basket with a carrot and potato garnish
- Rock Steady Jerk Chicken: chicken marinated for 24 hours and slow-cooked on the grill
- Mento Oxtail: flavoured oxtail stewed for five hours with herbs
- Ackee and salt fish: the national dish of Jamaica makes for a hearty breakfast
- Jamaican porridge: another breakfast favourite, can be made with peanut, cornmeal, banana and plantain
- Jamaican beef patty: a pastry with ground beef filling
- Hellshire Pon di Beach: Fresh fish with pickles
- Out of Many: traditional sweet potato pudding
Challenge Cup result:
1. UAE 3 faults
2. Ireland 9 faults
3. Brazil 11 faults
4. Spain 15 faults
5. Great Britain 17 faults
6. New Zealand 20 faults
7. Italy 26 faults