Sarah Palin tests positive for Covid, delaying start of 'New York Times' defamation trial


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Sarah Palin, the 2008 Republican US vice presidential candidate and former Alaska governor, has tested positive for Covid-19, forcing a judge on Monday to delay her defamation trial against The New York Times.

Ms Palin's positive test was announced by US District Judge Jed Rakoff in Manhattan, who is presiding over the case.

"She is of course unvaccinated," the judge said, referring to Ms Palin.

Ms Palin is to be retested on Monday morning, to determine whether jury selection can begin later that day or the trial should be adjourned, likely until February 3.

Mr Rakoff said Ms Palin's positive test came from an at-home test whose reliability was lower than tests administered at the courthouse and required for the trial.

Ms Palin has accused the Times and its former editorial page editor James Bennet of damaging her reputation in a June 14, 2017, editorial linking her to a 2011 mass shooting in Arizona that killed six people and wounded US Representative Gabby Giffords.

The editorial, headlined "America's Lethal Politics", was published after a shooting at a baseball practice in Alexandria, Virginia, where US Representative Steve Scalise, a top Republican from Louisiana, was wounded.

It said "the link to political incitement was clear" between the 2011 shooting and a map circulated by Ms Palin's political action committee putting 20 Democrats including Ms Giffords under "stylised cross hairs".

The Times quickly corrected the editorial, saying it wrongly stated that political rhetoric and the 2011 shooting were linked, and Mr Bennet has said he did not intend to blame Ms Palin.

But Ms Palin said the disputed material fit Mr Bennet's "preconceived narrative," and that he was experienced enough to know what his words meant.

A trial is expected to last five days.

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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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Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Full Party in the Park line-up

2pm – Andreah

3pm – Supernovas

4.30pm – The Boxtones

5.30pm – Lighthouse Family

7pm – Step On DJs

8pm – Richard Ashcroft

9.30pm – Chris Wright

10pm – Fatboy Slim

11pm – Hollaphonic

 

Updated: June 21, 2023, 7:30 AM