Trump sentencing in hush-money case delayed until after US election

A judge agreed on Friday to postpone the Republican presidential candidate Donald Trump’s sentencing following his May conviction in a hush-money case until after the November election. The decision comes as the race for the White House heats up, and grants the former president a reprieve as he navigates the aftermath of his criminal conviction and the home stretch of the presidential campaign.

Mr Trump was convicted of 34 counts of falsifying business records in a case that focused on hush-money payments made to an adult film star to cover up an alleged affair. Manhattan Judge Juan M Merchan, who is also weighing a defence request to overturn the verdict on immunity grounds, delayed Mr Trump’s sentencing until November 26, several weeks after the final votes will be cast in the election.

It had been scheduled for September 18, about seven weeks before election day. Mr Trump is the first US president to be found guilty of a crime.

Falsifying business records is punishable by up to four years in prison, though fines or probation have been more common for others convicted of the crime in the past.

Mr Trump’s lawyers pushed for the delay on several fronts, petitioning the judge and asking a federal court to intervene. They argued that punishing the former president in the thick of his campaign to retake the White House would amount to election interference.

Republican presidential candidate and former president, Donald Trump, speaks during the final day of the Republican National Convention in Milwaukee. AP
Donald Trump accepts his party's nomination on the last day of the 2024 Republican National Convention at the Fiserv Forum in Milwaukee, Wisconsin. AFP
Donald Trump kisses a helmet and firefighter’s jacket that belonged to Corey Comperatore, who was fatally shot at a rally where Trump survived an assassination attempt. AFP
Donald Trump arrives to speak on stage on the fourth day of the Republican National Convention. AFP
Donald Trump pauses while speaking after officially accepting the Republican presidential nomination. AFP
Supporters of Republican presidential candidate former President Donald Trump gather to watch a television broadcast of Trump's acceptance speech at the Republican National Convention. AP
Melania Trump, Vice Presidential Nominee Senator J. D. Vance (R-OH), and Eric Trump react as Republican presidential nominee and former U. S. President Donald Trump speaks. Reuters
US pro-wrestler Hulk Hogan rips his shirt off to reveal a Trump-Vance campaign shirt during the last day of the 2024 Republican National Convention. AFP

Mr Trump’s lawyers argued that delaying his sentencing until after the election would also allow him time to consider his next steps after Mr Merchan rules on the defence’s request to reverse his conviction and dismiss the case following the July ruling from the US Supreme Court on presidential immunity.

In his order issued on Friday, the Associated Press reported that Mr Merchan delayed a decision on that matter until November 12. On Tuesday a federal judge also rejected Mr Trump’s request to have the US District Court in Manhattan take over the case from Mr Merchan’s state court.

Had they been successful, Mr Trump’s lawyers said they would have then sought to have the verdict overturned and the case dismissed on immunity grounds. Mr Trump is appealing the federal court ruling.

If he wins the White House in November, Mr Trump could potentially order the Department of Justice to drop federal election interference charges against him, Reuters reported. He would not have the authority to end the New York state case or an election interference case in Georgia.

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

The biog

Siblings: five brothers and one sister

Education: Bachelors in Political Science at the University of Minnesota

Interests: Swimming, tennis and the gym

Favourite place: UAE

Favourite packet food on the trip: pasta primavera

What he did to pass the time during the trip: listen to audio books

CREW

%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3ERajesh%20A%20Krishnan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3ETabu%2C%20Kareena%20Kapoor%20Khan%2C%20Kriti%20Sanon%26nbsp%3B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%203.5%2F5%3C%2Fp%3E%0A

Napoleon

%3Cp%3E%3Cstrong%3EDirector%3C%2Fstrong%3E%3A%20Ridley%20Scott%3Cbr%3E%3Cstrong%3EStars%3C%2Fstrong%3E%3A%20Joaquin%20Phoenix%2C%20Vanessa%20Kirby%2C%20Tahar%20Rahim%3Cbr%3E%3Cstrong%3ERating%3C%2Fstrong%3E%3A%202%2F5%3Cbr%3E%3Cbr%3E%3C%2Fp%3E%0A

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.”

The Cairo Statement

1: Commit to countering all types of terrorism and extremism in all their manifestations

2: Denounce violence and the rhetoric of hatred

3: Adhere to the full compliance with the Riyadh accord of 2014 and the subsequent meeting and executive procedures approved in 2014 by the GCC

4: Comply with all recommendations of the Summit between the US and Muslim countries held in May 2017 in Saudi Arabia.

5: Refrain from interfering in the internal affairs of countries and of supporting rogue entities.

6: Carry out the responsibility of all the countries with the international community to counter all manifestations of extremism and terrorism that threaten international peace and security

Last 10 NBA champions

2017: Golden State bt Cleveland 4-1
2016: Cleveland bt Golden State 4-3
2015: Golden State bt Cleveland 4-2
2014: San Antonio bt Miami 4-1
2013: Miami bt San Antonio 4-3
2012: Miami bt Oklahoma City 4-1
2011: Dallas bt Miami 4-2
2010: Los Angeles Lakers bt Boston 4-3
2009: Los Angeles Lakers bt Orlando 4-1
2008: Boston bt Los Angeles Lakers 4-2

A cheaper choice

Vanuatu: $130,000

Why on earth pick Vanuatu? Easy. The South Pacific country has no income tax, wealth tax, capital gains or inheritance tax. And in 2015, when it was hit by Cyclone Pam, it signed an agreement with the EU that gave it some serious passport power.

Cost: A minimum investment of $130,000 for a family of up to four, plus $25,000 in fees.

Criteria: Applicants must have a minimum net worth of $250,000. The process take six to eight weeks, after which the investor must travel to Vanuatu or Hong Kong to take the oath of allegiance. Citizenship and passport are normally provided on the same day.

Benefits: No tax, no restrictions on dual citizenship, no requirement to visit or reside to retain a passport. Visa-free access to 129 countries.

Five expert hiking tips

Always check the weather forecast before setting off

Make sure you have plenty of water

Set off early to avoid sudden weather changes in the afternoon

Wear appropriate clothing and footwear

Take your litter home with you