Author: openjargon

  • Guess which All Ords ASX healthcare share just rocketed 19% on major FDA news

    Doctor doing a telemedicine using laptop at a medical clinic

    The All Ordinaries Index (ASX: XAO) is up 0.5% in morning trade with one ASX healthcare share doing plenty of the heavy lifting.

    Shares in the regenerative medicine company, which is focused on devices for wound care management and skin restoration, closed yesterday trading for $2.66. In earlier trade, shares were changing hands for $3.17 apiece, up 19.2%.

    After some likely profit-taking, shares are trading for $3.00 apiece at the time of writing, up 12.8%. Investor enthusiasm roused following positive news from the United States Food and Drug Administration (FDA).

    Any guesses?

    If you said Avita Medical Inc (ASX: AVH), go to the head of the virtual class.

    Here’s what the ASX healthcare share reported today.

    ASX healthcare share rockets on FDA greenlight

    The Avita Medical share price is surging after the company reported that the FDA has greenlit its premarket approval (PMA) supplement for the RECELL GO system.

    RECELL GO is an autologous cell harvesting device. It harnesses the regenerative properties of a patient’s own skin to treat burn wounds and full-thickness skin defects.

    The ASX healthcare share highlighted a number of advantages RECELL has over traditional skin grafting.

    Those include:

    • Improved healing is achieved using significantly less donor skin
    • Pain is reduced, closure is faster, and the aesthetic appearance at the RECELL-harvested donor site is improved
    • Fewer procedures are required for definitive closure
    • A reduction in the length of stay for burns covering less than 50% of total body surface area

    The company also noted that enhanced features of the device, including a simplified user interface, significantly reduce the training required for medical staff.

    Commenting on the FDA approval sending the ASX healthcare share soaring today, Avita Medical CEO Jim Corbett said, “FDA approval of RECELL GO marks a paradigm shift in the treatment of partial-thickness and full- thickness wounds.”

    Corbett added:

    By streamlining processes and enhancing operational efficiency with the use of RECELL GO, clinicians can now treat a greater number of patients and more broadly experience the proven benefits of RECELL technology.

    We believe that this transformative shift will empower more clinicians to achieve optimal outcomes for their patients, driving greater adoption, and fundamentally redefining wound care management. It’s GO time for a new era in wound care.

    The ASX healthcare share will launch RECELL GO in its top burn treatment centres in the US in June.

    Management said that existing accounts will be converted to RECELL GO throughout the year, while new accounts will receive RECELL GO with their first order.

    The post Guess which All Ords ASX healthcare share just rocketed 19% on major FDA news appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Avita Medical right now?

    Before you buy Avita Medical shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Avita Medical wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Avita Medical. The Motley Fool Australia has recommended Avita Medical. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Why is this ASX 300 stock crashing 13% today?

    The Talga Group Ltd (ASX: TLG) share price is having a tough finish to the week.

    At the time of writing, the ASX 300 stock is down 13% to 56.5 cents.

    This leaves the battery materials developer’s shares trading within touching distance of a multi-year low.

    Why is this ASX 300 stock crashing?

    Investors have been heading to the exits today after the company announced the completion of a mining study into the expansion options for its Vittangi Graphite Project in Sweden.

    The release notes that the mining study forms part of a wider integrated scoping study aimed at expanding the ASX 300 stock’s existing initial 19,500 tonnes anode per annum (tpa) production of low-emission graphite anode products for lithium-ion battery markets.

    According to the release, the study found mine plans supporting 0.6Mtpa, 1.0Mtpa, and 2.0Mtpa Run of Mine (RoM) ore production from existing indicated and inferred JORC resources of 35.0Mt at 23.8%Cg.

    However, it also warns that “there is a low level of geological confidence associated with Inferred mineral resources and there is no certainty that further exploration work will result in the determination of Indicated mineral resources or that the production target itself will be realised.”

    The study also found that a transition to underground mining and optimised development plan negates the need for multiple open pits, with the potential to increase life of mine beyond 40 years at a lower 0.6Mtpa mining rate.

    Big investment required

    But to get to the above, it will take a significant investment and there is no certainty that it will be able to raise the required funds. The release states:

    To achieve the range of outcomes indicated in the Interim Report, capital funding in the order of €520 – €1,100 million [A$848 million to A$1.8 billion] plus contingencies may be required. Investors should note that there is no certainty that the Company will be able to raise that amount of funding when needed.

    This compares to the current Talga market capitalisation of approximately A$210 million.

    Nevertheless, the ASX 300 stock’s CEO, Martin Phillips, is positive on the company’s prospects and appears optimistic that today’s study is a big step forward for it. He commented:

    Our large-scale Swedish graphite project is a key alternative source of strategic raw materials to support the EU’s ambitions and the demand from key export markets. The completed mining study underpins the Scoping Study underway to outline expansion options to supply the global battery anode market beyond our initial 19,500tpa project.

    The post Why is this ASX 300 stock crashing 13% today? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Talga Resources Limited right now?

    Before you buy Talga Resources Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Talga Resources Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Google Meet: A guide to Google’s video-conferencing service, how to join calls, record, and blur backgrounds

    An iPhone displays the Google Meet app on the App Store, while a laptop in the background displays a video conference  call with nine attendees.
    Google Meet lets you launch and join virtual meetings, and has features like screen sharing and visual effects.

    • Google Meet is a video-conferencing service designed for businesses and organizations.
    • Google recently integrated its Gemini AI tool into Google Meet for enhanced visual effects.
    • Google Meet offers features like recording a meeting, blurring your background, and companion mode.

    Google Meet, formerly known as Google Hangouts Meet, is a video-calling app that lets people come together in virtual meetings. As few as two or as many as 100 participants can join the same meeting and can speak, communicate via chat, or share video with each other from anywhere with internet access.

    Google designed the platform primarily for businesses and other organizations, and it's a great way for colleagues who don't work in the same location to communicate. It can also be used as a video platform connecting friends and family, of course.

    A Google Meet organizer can share whatever is on their screen with everyone on a call, and any participant can turn their own audio and/or video feed off at any time, participating however they choose. Google's Gemini AI has also enhanced the service, including visual effects to fix low video quality and lighting issues and translated captions for participants with language barriers.

    Like other video-conferencing platforms, Google Meet exploded in popularity during the pandemic. Google CEO Sundar Pichai announced in April 2020 that Google Meet was adding roughly 3 million users every single day.

    Here's what you need to know about how to use the platform:

    How much Google Meet costs

    A business owner in a coffee shop smiles while typing on his laptop.
    Google Meet has a free tier, but you'll need to pay for premium if you want to unlock longer meetings, or invite large numbers of participants.

    Google Meet has a free tier that lets anyone with a Google account create or join a call — but there are some limitations. Group meetings can't exceed 60 minutes and can't have more than 100 participants (one-on-one meetings and mobile calls have no time limit).

    But Google offers pricing plans for organizations or individuals who need more flexibility with their meetings.

    Google Workspace has a few different membership tiers, and the more you pay, the more people you can have on a single Google Meet call.

    • Business Starter costs $6 a month per user. It allows you to meet with up to 100 people at once for up to 24 hours.
    • Business Standard costs $12 a month per user. You can meet with up to 150 people at once.
    • Business Plus costs $18 a month per user. With this, you can meet with up to 500 people at once.
    • Enterprise has no fixed price and requires you to contact sales. At this level, you can meet with up to 1,000 people at once.

    Each Google Workspace tier also comes with extra Google Drive storage space and advanced data security options. There are also versions built for schools and educators, which Google offers for free to certain institutions. Google Meet is also integrated into Google Classroom, Google's online education platform.

    If you're just an individual who wants to use Google Meet for your business, Google Workspace offers an individual plan for $9.99 a month, or an annual package that costs $8.33 per month for 12 months. This plan gives you meetings that can last up to 24 hours, as well as extra storage.

    How to join a Google Meet call

    You join a Google Meet session by using a code that's created when the event organizer schedules the meeting. 

    On both the Meet mobile app and on a computer, simply pull up Google Meet and click or tap "Use a meeting code" (it may say "Enter a meeting code" on mobile). Once your code is in, provided the session has started, you'll enter the call and can begin talking with your team.

    You can also access Google Meet calls through Google Calendar, if the organizer has created a link for the meeting within the event. Simply click on the event and click Join with Google Meet.

    A screenshot of Google Calendar shows an event with the button "Join with Google Meet" emphasized with a red box and arrow.
    Clicking on the event will bring up a link directly to your Google Meet call.

    The creator of the meeting can also send out a direct link, which you just have to click once to join the meeting.

    Just remember that you need to allow Google Meet to access your phone or computer's camera and microphone when you set it up, or the program won't function properly.

    Using Google Meet's features

    Once you are in a Google Meet meeting, there are various features you can make use of to enhance the experience. One basic but highly useful feature is recording, which can preserve the video and audio for later review. 

    How to record a Google Meet

    To record a Google Meet session (assuming you're not the host), first request co-host access. Then, while the meeting is ongoing, at the bottom right corner of the screen, click Activities, then click on Recording on the activities panel that opens.

    A screenshot of a Google Meet call shows the "Activities" icon and "Recording" button emphasized with red boxes and arrows.
    First, click the "Activities" icon, then select "Recording."

    Then hit the Start recording button and that's it — you can stop any time back in the activities panel or just wait for it to end. You will be emailed a link to the recording after the session ends.

    How to blur Google Meet background

    To keep your home or workspace private or to add a bit of fun to a Google Meet session, you can blur the background behind you in Google Meet.

    1. Before joining the meeting or as soon as it begins, click Apply visual effects below your view of yourself.
    A screenshot of Google Meet shows the "More options" icon and "Apply visual effects" button emphasized with red boxes and arrows.
    First, click the icon for "More options," then click "Apply visual effects."

    1. Then hit the Backgrounds tab and click Slightly blur or Blur, the outcomes here being self-explanatory.
    A screenshot of Google Meet shows the options for blurring your background during a video call.
    You can choose exactly how blurry you want your background to appear.

    To upload a custom background — say a mountain or city scene — hit "Upload +" and then find the image you want to use on your computer.

    Google Meet Companion mode

    Designed for hybrid meetings where some people are together in a room and some are remote, Companion mode lets you use your laptop to access all the features the remote participants enjoy — such as commenting, raising a hand, and sharing links — but it turns off your computer's sound, so there are no feedback loops created.

    You keep using the AV hardware in the room for audio and visuals, but you have the full suite of Google Meet features at your disposal.

    To use Companion mode, join the meeting via your computer, then click Other joining options. Next, hit Companion mode and then click Check in.

    Read the original article on Business Insider
  • Why is the Telix Pharmaceuticals share price soaring 11% today?

    A medical researcher works on a bichip, indicating share price movement in ASX tech companies

    The Telix Pharmaceuticals Ltd (ASX: TLX) share price is racing higher today.

    Shares in the S&P/ASX 200 Index (ASX: XJO) biopharmaceutical company closed yesterday at $15.74. At the time of writing, shares are trading 10.6% higher at $17.41 after touching a high of $17.44 apiece in early trade.

    For some context, the ASX 200 is up 0.44% at this same time, while the S&P/ASX 200 Health Care Index (ASX: XHJ) is up 1%.

    Here’s what’s grabbing investor interest today.

    ASX 200 healthcare share rockets on trial results

    Investors are bidding up the Telix Pharmaceuticals share price today after the company announced positive results from its ProstACT SELECT clinical cancer trial.

    Telix is testing the efficacy of TLX591, an investigational anti-PSMA1 radio-antibody-drug conjugate (rADC) therapy. TLX591 is being developed to treat adult patients with PSMA-positive metastatic castrate-resistant prostate cancer (mCRPC).

    According to the release, SELECT is a radiogenomics study intended to evaluate lesion concordance between Ga (gallium)-based PSMA-PET imaging and TLX591 dosimetry for the purpose of validating PET imaging for patient selection for rADC therapy.

    (Quite a mouthful, I know!)

    The company said the new positive clinical results build on prior data from the ProstACT SELECT trial, which demonstrated a favourable safety profile and biodistribution.

    The study reported a median radiographic progression-free survival (rPFS) of 8.8 months, which Telix called an encouraging signal of the potential efficacy of TLX591 in this patient population.

    The trial involved 23 patients with previously treated, progressive mCRPC who received two 76 mCi intravenous infusions of TLX591 14 days apart.

    Commenting on the results sending the Telix Pharmaceuticals share price soaring today, Nat Lenzo, nuclear oncologist and lead recruiter of the SELECT trial, said:

    We are encouraged by this rPFS result, which compares favourably to small molecule radioligand therapy (RLT) Phase I and II studies at similar stages of development.

    This is a compelling signal of the potential efficacy of TLX591 in this heavily pre-treated population. The results further support the development of this candidate in an earlier mCRPC patient population which is the focus of the ProstACT Global Phase III trial and where there remains significant unmet need for effective treatment.

    David Cade, chief medical officer at Telix, added:

    TLX591 is a radio-ADC with significant potential advantages compared to small molecule radiopharmaceuticals in treating prostate cancer. TLX591 is differentiated by a patient-friendly dosing regimen with far lower cumulative radiation exposure compared to small molecule radioligand therapies.

    The company is currently preparing to enrol patients at its first US sites for the Phase III ProstACT Global trial.

    Telix Pharmaceuticals share price snapshot

    With today’s intraday gains factored in, the Telix Pharmaceuticals share price is up a whopping 69% so far in 2024.

    But it could well have further to run.

    Following on today’s announcement, Wilsons has placed a $20.00 price target on Telix Pharmaceuticals shares. That represents a potential 17% upside from current levels.

    The post Why is the Telix Pharmaceuticals share price soaring 11% today? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Telix Pharmaceuticals right now?

    Before you buy Telix Pharmaceuticals shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Telix Pharmaceuticals wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • ANZ shares rise as the bank boosts its capital coffers

    A man holds his hand under his chin as he concentrates on his laptop screen and reads about the ANZ share price

    The ANZ Group Holdings Ltd (ASX: ANZ) share price is up 0.7% in early trading amid news the ASX bank share has sold its remaining shareholding in AmBank. The S&P/ASX 200 Index (ASX: XJO) is up 0.8% in morning trade, so ANZ shares are slightly underperforming the market.

    AmBank is one of the largest financial institutions in Malaysia. It has been operating for more than 40 years. The Malaysian bank has more than three million customers and over 9,000 employees. Services include banking, underwriting of general insurance, life insurance, and asset management services.

    ANZ sells remaining shares of AmBank

    The ASX bank share announced it has agreed to sell its remaining 5.2% of the issued shares of AMMB Holdings Bhd, otherwise known as AmBank, through a block trade at a price of MYR4.10 per share.

    ANZ disclosed the sale proceeds will increase its common equity tier 1 (CET1) ratio by approximately 5 basis points. This is in addition to the 16 basis points of capital released from the sale of the initial block of 16.5% of AmBank shares in March 2024. The sale announced in March was done at MYR3.85 per share, so it has risen 6% in two months.

    The AMMB share price has risen by 16% in the past 12 months, according to Google Finance. ANZ appears to be capitalising on a price close to the highest level since the onset of the COVID-19 pandemic.

    The settlement of this sale is anticipated to occur on 5 June 2024.

    The bank said the sale proceeds will have “no material impact” on net profit after tax (NPAT).

    ANZ said after the March sale that its capital management considerations would include the capital release from the sale. The ASX bank share did not reference any ‘capital management’ during today’s sell-down announcement.

    Management comments

    The ANZ chief financial officer Farhan Faruqui said:

    The sale of our equity stake in AmBank is a significant milestone in delivering on our strategy to simplify the bank. We have valued our partnership with AmBank and wish the group well for the future.

    ANZ share buyback

    When the ASX bank share announced its FY24 half-year result earlier in May, it revealed its intention to buy back up to $2 billion of shares as part of its capital management plan.

    The bank called the buyback “appropriate”, taking into account its “strong capital position”. ANZ said the share buyback is expected to reduce ANZ’s level 1 and level 2 CET1 ratios at March 2024 by 54 basis points and 46 basis points.

    The post ANZ shares rise as the bank boosts its capital coffers appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Australia And New Zealand Banking Group right now?

    Before you buy Australia And New Zealand Banking Group shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Australia And New Zealand Banking Group wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Trump not testifying in his hush-money trial was a mistake, legal experts say

    Trump looking down
    Former U.S. President Donald Trump departs the courtroom after being found guilty on all 34 counts in his hush money trial at Manhattan Criminal Court on May 30, 2024 in New York City.

    • Trump was convicted on 34 counts of falsifying business records related to hush-money payments.
    • Legal experts said the defense made mistakes and that the prosecution told a better story.
    • Trump had previously said he would testify but ultimately didn't, which may have hurt his case.

    Former President Donald Trump's historic conviction on Thursday may have been in part due to mistakes made by his defense team, including not having him take the stand, legal experts told Business Insider.

    A New York jury convicted Trump on 34 counts of falsifying business records related to a hush-money payment made to porn star Stormy Daniels. The verdict made history: Trump is the only US president to also be a convicted felon.

    Though the conclusion of the case was significant, three legal experts told BI the verdict wasn't a major shock. Two said Trump's team made a number of mistakes during the trial that could have influenced the jury's decision.

    "I can't say I'm surprised," Alex Reinert, a criminal law and constitutional law expert at the Cardozo School of Law, said. "At the end of the day, it was a pretty simple case for the prosecution."

    Mistakes were made

    Eric Anderson, a former prosecutor and current counsel at Early Sullivan Wright Gizer & McRae LLP, said the case could've gone either way, but that he thought the odds favored the prosecution going into deliberations.

    "Whoever has the best story wins," he told BI. "The prosecution's story was very simply: that Donald Trump did something that on its face, could have been completely legal, but he did it in an attempt to circumvent a federal election law."

    On the other hand, he thought the defense's story just didn't work. For instance, they denied Trump ever had an affair with Daniels and did not provide a counter for it, even though many Americans already believe the alleged affair happened.

    Neama Rahmani, a former federal prosecutor and president of West Coast Trial Lawyers, said the defense "overpromised and underdelivered."

    He pointed to opening statements made by Trump's lawyer, Todd Blanche, that Rahmani thought suggested an accountant would testify and serve as a fall guy. No such testimony was offered.

    He also said the defense focused too much on Michael Cohen, Trump's former lawyer, but that he wasn't even the key witness. Instead, Rahmani said it was David Pecker, the former publisher of the National Enquirer, who was the key witness for the prosecution.

    "He's the one that directly tied Trump to the catch and kill scheme," he said.

    Anderson said Cohen's testimony worked against Trump, despite the lawyer's potential credibility issues. He said often the most credible witnesses are the ones who own up to being liars, and that the defense just didn't know how to rattle Cohen.

    Even if the defense hadn't made these mistakes, it might not have made a difference, Rahmani said. Still, he thought they made it a lot easier for the jury to find Trump guilty.

    Not testifying may have hurt Trump

    Whether Trump would take the stand was a will-he-won't-he question for weeks, with the former president even saying he would testify.

    But when the defense's case rested last week, Trump hadn't been called to the stand.

    "Donald Trump never got up there and said, 'Here's the reason I did this.' If you don't do that, all the jury is left with is the prosecution's version of events," Anderson said.

    Not long before resting their case, the defense told the judge they were still weighing having Trump testify. Some legal experts previous said testifying would not be a good idea for Trump, with concerns that he could end up committing perjury.

    But Rahmani agreed that not having him speak up may have ultimately hurt his case.

    "The defense needed something, some sort of explanation," Rahmani said of the falsified records. 

    "I think they would've been better off if either Trump or an accountant testified, 'These were wrong, but it was an innocent mistake,'" he said.

    Instead of claiming that a mistake was made with the records, Rahmani said the defense chose to "lie" in their closing statements and say there were no issues with the payments.

    "I think they lost all credibility," he said.

    Don't expect to see Trump behind bars

    Trump's sentencing is scheduled for July 11. It's highly unlikely he will receive any jail time, the experts said. Instead, probation is most likely, or potentially home confinement.

    "There's no way Judge Merchan is going to send him to jail. It was clear when he violated the gag order 10 times and the judge just threatened him," Rahmani said.

    Trump's team will almost certainly appeal, but their potential arguments aren't particularly strong, the lawyers said.

    Regardless of the sentence, Trump would still be able to run for president. Being convicted of a felony — or even being behind bars — does not disqualify presidential candidates.

    Trump and Biden both said as much after the verdict, when they each emphasized the importance showing up at the ballot box in November.

    Read the original article on Business Insider
  • All the questions you have about Donald Trump’s criminal conviction, answered

    donald trump manhattan criminal trial
    Former US President Donald Trump attends his hush-money trial at Manhattan Criminal Court in New York City.

    • A jury found Donald Trump guilty of 34 counts of falsifying business records on Thursday.
    • The historic criminal conviction of a US president raises several questions about Trump's future.
    • Trump is gearing up to battle President Joe Biden for the presidency in November. 

    Former President Donald Trump is officially a felon.

    The historic Thursday verdict against Trump represents the first time a US president has ever been criminally convicted.

    The unprecedented legal outcome raises several questions about Trump's future, especially as he prepares to battle President Joe Biden for the presidency in November.

    What was Trump found guilty of?

    A Manhattan jury found Trump guilty of 34 criminal counts of falsifying business records to cover up a $130,000 hush-money payment to adult film actor Stormy Daniels days before the 2016 election.

    What did Trump pay hush money for?

    Trump directed his then-fixer, Michael Cohen, to buy Daniels' silence over a sexual encounter she alleges happened between the two at a Lake Tahoe hotel in 2006 during a celebrity golf tournament. Trump has repeatedly denied the affair.

    Is Trump going to jail?

    Despite being found guilty on all charges, Trump is not expected to go to prison. His crimes are nonviolent offenses, and Trump has no previous criminal record. Legal experts told Business Insider that Trump will more likely receive probation at his sentencing, which is set for July 11.

    Can a president pardon himself?

    If Trump wins the election in November, he will have access to broad pardon powers. However, that authority won't apply to this conviction. The president only has pardon powers over federal charges and Trump's hush-money trial played out in New York state court.

    Can a felon run for president?

    Yes. The only three requirements for presidential candidates in the US Constitution are that they must be natural-born citizens, at least 35 years old, and have been US residents for at least 14 years. 

    The 14th Amendment also forbids anyone from taking office who has engaged in insurrection against the US. Several states pushed to keep Trump off the 2024 ballot because of this stipulation. But earlier this year, the US Supreme Court ruled in favor of keeping the GOP frontrunner on the ballot. 

    Can Donald Trump still run for president?

    Yes. And he's already doubled down on trying to use Thursday's guilty verdict to his advantage. The former president immediately started fundraising after the verdict.

    What was Trump's reaction to the verdict?

    Trump appeared furious about the jury's decision, baselessly accusing the trial of being "rigged" after hearing the verdict and declaring himself innocent.

    "We didn't do a thing wrong. I'm a very innocent man," he told reporters, adding that the "real verdict is going to be November 5 by the people."

    What was Michael Cohen's reaction to the verdict?

    Cohen, Trump's former lawyer who provided critical witness testimony in the hush-money-trial, celebrated the verdict, telling Business Insider that it was "an important day for accountability and the rule of law."

    "While it has been a difficult journey for me and my family, the truth always matters," he said.

    What was Biden's reaction to the verdict?

    President Joe Biden and his campaign on Thursday were mostly muted in responding to the verdict, acknowledging that Trump still has a path to the presidency despite the conviction.

    "There's only one way to keep Donald Trump out of the Oval Office: At the ballot box," Biden wrote on X.

    What was Stormy Daniels' reaction to the verdict?

    Daniels, the adult film actress at the center of the entire case, has remained silent on the conviction, at least on social media. She did like an X post from comedian Kathy Griffin Thursday evening, who wrote, "Thank you @StormyDaniels."

    Read the original article on Business Insider
  • Rio Tinto shares marching higher amid an ‘exciting new chapter’ for production

    Factory worker wearing hardhat and uniform showing new metal products to the manager supervisor.

    Rio Tinto Ltd (ASX: RIO) shares are marching higher today.

    Shares in the S&P/ASX 200 Index (ASX: XJO) mining stock closed yesterday trading for $127.66. In morning trade on Friday, shares are swapping hands for $128.41 apiece, up 0.6%.

    For some context the ASX 200 is up 0.7% at this same time.

    This comes amid news that the miner’s low carbon aluminium production in New Zealand has received a multi-decade new lifeline.

    Rio Tinto shares in the green on smelter agreement

    Rio Tinto shares are in the green after the company reported that New Zealand Aluminium Smelters (NZAS) has signed 20-year electricity arrangements that secure the future of the Tiwai Point aluminium smelter.

    The smelter makes up around 13% of New Zealand’s total power demand. Back in 2021, Rio Tinto said the facility would be closed this year amid concerns over high energy costs.

    Under the new agreement Tiwai Point, owned and operated by NZAS, will continue to produce high-purity, low-carbon metal, backed by a “diversified mix” of renewable electricty.

    NZAS has inked contracts with Meridian Energy, Contact Energy and Mercury NZ to set pricing for an aggregate of 572 megawatts (MW) of electricity. That’s enough to meet the smelter’s full electricity needs.

    Rio Tinto expects the agreements to commence in July and run until at least 2044.

    Commenting on the deal that could be offering some tailwinds to Rio Tinto shares today, Rio’s Aluminium CEO Jérôme Pécresse said:

    We are pleased the long-term future of the Tiwai Point smelter has been secured with these agreements, which were reached with a genuinely collaborative spirit between all parties.

    They give us confidence that our New Zealand workforce and assets can continue competitively producing the high purity, low-carbon aluminium needed for the global energy transition.

    This is an exciting new chapter, and we would like to thank everyone involved.

    “This is a fantastic outcome for New Zealand and the Southland region,” Meridian Energy CEO Neal Barclay added. “It’s further proof that large industrial businesses can utilise New Zealand’s renewable energy advantage and create low carbon sustainable products, high value jobs and export dollars for our country.”

    The agreement stipulates that in the event of future power shortages, NZAS could be asked to cut its electric use by up to 185 megawatts to ensure national energy security.

    The agreements remain subject to regulatory approvals and other standard conditions.

    In other news

    Rio Tinto shares could also be getting a boost from the announcement of a separate transaction.

    The ASX 200 miner reported it has entered into an agreement to acquire Sumitomo Chemical Company Limited’s 20.64% interest in NZAS for an undisclosed price.

    Once that transaction is complete, Rio Tinto will own 100% of NZAS.

    The post Rio Tinto shares marching higher amid an ‘exciting new chapter’ for production appeared first on The Motley Fool Australia.

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  • Billionaire Bill Ackman is reportedly leaning toward endorsing Trump

    Bill Ackman.
    Billionaire Bill Ackman is leaning toward endorsing former President Donald Trump.

    • Pershing Square Capital Management CEO Bill Ackman is leaning to supporting Donald Trump.
    • According to multiple reports, Ackman is considering a public announcement backing Trump.
    • He would join a growing list of Wall Street titans that have lined up behind the former president. 

    Billionaire investor Bill Ackman is considering endorsing former President Donald Trump, according to multiple reports.

    The Financial Times was the first to report that the hedge fund manager is leaning toward the former president.

    Ackman, the founder and CEO of Pershing Square Capital Management, previously donated $1 million to a super PAC supporting Rep. Dean Phillips of Minnesota, who mounted a long-shot primary challenge to President Joe Biden. Ackman also supported former UN Ambassador Nikki Haley, who recently endorsed Trump after her failed GOP primary run.

    Ackman would likely make his endorsement on X, according to the FT. The hedge fund manager has become an outspoken personality on the Elon Musk-owned platform.

    Bloomberg News also reported that a person familiar with Ackman's thinking sees Robert F. Kennedy, who is mounting an independent campaign, as unlikely to win — pushing the billionaire closer to Trump.

    Ackman is the latest billionaire to show openness to supporting Trump, whose administration was at times at loggerheads with Wall Street. Blackstone Group CEO Steve Schwarzman told Axios last week that supporting Trump was a "vote for change.

    Ackman has supported Democrats in the past, but has backed some conservative candidates more recently.

    In January, he described diversity, equity, and inclusion initiatives as "racist."

    "DEI is racist because reverse racism is racism, even if it is against white people (and it is remarkable that I even need to point this out)," Ackman wrote on X.

    After Hamas' October 7 attack on Israel, Ackman pressured Harvard, his alma mater, to take a more forceful stance against the attack and to protect students from antisemitism on campus.

    Following Trump's conviction Thursday afternoon, Ackman shared a post on X from Florida Gov. Ron DeSantis condemning the verdict. "I think any objective person would have to agree with @GovRonDeSantis here," he wrote.

    Ackman and a Pershing Square Capital Management spokesperson did not immediately respond to Business Insider's request for comment.

    Read the original article on Business Insider
  • Trump looked ‘very demolished’ by verdict, says court sketch artist who captured the moment

    This court sketch shows Donald Trump standing after his verdict.
    Donald Trump, standing after his verdict.

    • The hush-money verdict was announced just as trial attendees expected to go home for the day.
    • Trump began shaking his head 'No,' after the 5th 'guilty,' said court artist Christine Cornell.
    • "He looked very demolished by it. He really did," Cornell said.

    Donald Trump looked "demolished" after being found guilty of 34 counts of felony falsifying business records, according to a veteran court sketch artist who captured the moment for history.

    "He looked very demolished by it. He really did," artist Christine Cornell told Business Insider after Thursday's verdict.

    The jury had sent out a note reading, "We the jury have reached a verdict" at 4:20 p.m., just as trial attendees were expecting to leave the crowded Manhattan courtroom and go home for the day.

    Everyone — including, apparently, Trump — had figured court would end at 4:30 p.m., and that the jury would just return Friday to keep deliberating.

    "He was feeling a little upbeat — that we were all going to be able to go home," Cornell said of Trump. "So if anyone was the most surprised there was a verdict, it was him.

    Then came the verdict note. Cornell finished a chalk pastel drawing showing Trump waiting pensively while chatting with his lawyer Todd Blanche.

    Donald Trump waits for his verdict in this drawing by a court sketch artist.
    Donald Trump waits for his verdict.

    Then the jurors filed in, and at 5:05 p.m. the first "guilty" was recited by the jury foreman.

    Cornell was well-situated to watch Trump's body language, sitting in the second row and across the aisle, right behind Manhattan District Attorney Alvin Bragg, who brought the indictment.

    After hearing the word "guilty" for the fifth of 34 times, Trump began shaking his head "no" as he sat at the defense table.

    Cornell, who did not have a verdict sketch pre-prepared, was meanwhile sketching away.

    "I drew the verdict in the middle of the verdict," she said. "I got everybody in there though."

    Donald Trump hears his verdict in this court artist sketch.
    Donald Trump hears his verdict as Manhattan District Attorney Alvin Bragg looks on.

    The posture of the foreman caught Cornell's eye, she said.

    "It was an unusual stance," she said of the foreman, a salesman who was born in Ireland and spoke with a slight brogue.

    "It's like he was propping one hand forward on the rail of the jury box," she said. "He was quite serious."

    christine cornell illustration court trump
    Christine Cornell colors a mock court drawing of former president Donald Trump at his hush money trial, in April.

    Afterward, Trump appeared deflated, said Cornell, whose 30-year career has included sketching the trials of Gambino mobster John Gotti, Ponzi schemer Bernie Madoff, the Central Park Five, subway vigilante Bernie Goetz, and even former Filipino First Lady Imelda Marcos.

    "As he walked by me, he started to swing his arms in what was sort of a hopeless gesture," she said of Trump.

    Trump must return to court on July 11 for sentencing. He faces anywhere from no jail up to four years prison.

    Experts have said a sentence of incarceration is unlikely, given that Trump was convicted of a low-level, non-violent felony and is — at least for now — a first offender.

    He has three more indictments yet to be tried.

    Read the original article on Business Insider