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Former President Donald Trump has invoked presidential immunity as a defense against federal charges related to his actions following the 2020 election.

The defense strategy is Trump’s boldest attempt yet to counter the indictment accusing him of spearheading a misinformation campaign after the election, which allegedly incited the Capitol riot.

Lawyers representing Trump have submitted a comprehensive 52-page document pushing back against the allegations.

The document underscores the unique privileges and duties of a sitting president. It also draws attention to Trump’s prior acquittal by the Senate on related accusations, suggesting that it grants him “absolute immunity” from subsequent legal actions, according to Politico.

The indictment claims that Trump orchestrated a broad misinformation campaign. This campaign aimed to exert pressure on states and then-Vice President Mike Pence to reverse the election outcome.

The events culminated in the violent Capitol breach by Trump’s supporters, attempting to halt Congress from confirming President Joe Biden’s victory. The trial is slated to commence on March 4.

Trump’s legal team believes that the prosecution’s primary argument hinges on the inherent presidential powers, such as speaking to the public, structuring his administration, liaising with Congress, enforcing election laws and upholding the Constitution.

They further argue that whether Trump genuinely believed the election was rigged is irrelevant when assessing his immunity.

However, the prosecution contends that Trump’s unyielding quest for power following the election veered into criminal behavior, according to Politico. Prosecutors argue that Trump exploited his presidential authority to further his objectives.

Another pivotal point raised by Trump’s defense is his Senate acquittal in an impeachment trial for similar behavior. They maintain that this acquittal shields Trump from prosecution for related deeds.

Notably, after the acquittal, Senate GOP Leader Mitch McConnell hinted that the criminal justice system would be a more fitting platform to hold former presidents who engaged in illegal conduct accountable.

Produced in association with Benzinga

Jacksonville Sheriff’s Office in Florida has normally been auctioning forfeited property annually, anytime they have items to auction they issue a public notice for the same operation. The latest is happening now today being the third day.

“Jacksonville Sheriff’s Office (JSO) is letting the members of the public know that in the beginning of Friday 6th October heading to 13th October, it shall be auctioning a list of items held from forfeited property,” said the notice.

JSO announced that the items will be sold to the highest bidder, the property was obtained with money from the Florida Contraband Forfeiture Act. According to section 932.701-932.706 Florida Statutes (F.S )the department provides for the seizure and civil forfeiture of property related to criminal and non-criminal violations of law.

“Some of the items that are up for grabs include UK Boat Trailer, 2001 Jeep Cherokee, 2005 Ford Explorer, 2004 Ford Mustang, 2007 Infiniti G35S, 14K Religious Crucifix Ring, Platinum classic ring, 925 Silver/Gold woven ring and much more,” said JSO.

“The office of the Sheriff maintains the right to substitute , remove or add to this list as needed and to set minimum bids . The auction can end or be terminated at any time without prior notice, all items sold as is condition and carry no warranty. Payment will be conducted through an online website and is subject to the terms and conditions there in,” said JSO.

JSO has previously conducted auctions mostly in October and July of every year, last year it started on 14th October, October 14th 2021, October 16th 2020, July 19th 2019, and July 23rd 2018 respectively. The JSO warehouse is located on 1087 Haines Street where serious buyers do inspection when need be and it has to be with an appointment.

Edited by Judy J. Rotich and Newsdesk Manager

IRVINE, Calif. — Rivian Automotive, Inc. (NASDAQ:RIVN) witnessed an approximately 8% drop in after-hours trading on Wednesday after announcing a debt offering. Alongside this, the company also provided a preliminary print of its third-quarter revenue, which fell in line with expectations.

Debt Offering: Rivian, headquartered in Irvine, California, revealed its intention to raise $1.5 billion by issuing green convertible senior notes due in 2030 through a private offering to qualified institutional buyers. The company also plans to grant initial note purchasers the option to acquire up to an additional $225 million worth of notes.

Green notes are designed to secure capital for environmentally friendly and climate-conscious projects, offering incentives such as tax exemptions and credits. Interest on these notes will be payable semi-annually in arrears, and any unredeemed or unconverted notes will mature on October 15, 2030. Rivian has stated that it will have the discretion to settle conversions in cash, Class A shares, or a combination of both.

“The proceeds from this offering will be used by Rivian to finance, refinance, and make direct investments in new or recently completed projects, as well as current and/or future eligible projects adhering to the “Green Bond Principles, 2021,” said the Firm’s management.

Q3 Preliminary Results: Rivian anticipates third-quarter revenue in the range of $1.29 billion to $1.33 billion, aligning with the consensus estimate of $1.3 billion. This marks a significant increase from the year-ago revenue of $551.57 million, attributed to higher deliveries achieved in the third quarter.

Earlier this week, Rivian announced the production of 16,304 EVs and the delivery of 15,564 EVs in the September quarter. The company has also reaffirmed its full-year delivery target of 52,000 units. The official release of the third-quarter results is scheduled for Nov. 7.

In terms of liquidity, Rivian expects its cash, cash equivalents, and short-term investments to stand at $9.1 billion at the close of the September quarter, compared to $10.2 billion at the end of the June quarter. “We believe our existing cash, cash equivalents and short-term investments … will be sufficient to enable us to fund our operations and capital expenditures through 2025,” said the company.

Why It Matters: While the announcement of a capital raise plan typically exerts downward pressure on stock prices, Rivian’s issuance of debt doesn’t involve dilution of equity capital. Nevertheless, maintaining a robust cash reserve is crucial, given the capital-intensive nature of the automobile manufacturing business.

Rivian is part of the new wave of EV manufacturers in the early stages of production ramp-up, where substantial capital investments are required. Even major players like General Motors have faced bankruptcy due to cash shortages. 

Chinese EV startup Nio announced a $1 billion convertible senior note offering in late September. Rumors of the company looking to raise $3 billion more also did the rounds in late September, although the company denied the reports.

Tesla boasted of a cash position of about $23.08 billion at the end of the June quarter. Rivian’s peer Lucid had a cash position of $5.3 billion and the luxury of falling back on its Saudi promoters in the eventuality of a cash crunch.

In after-hours trading on Wednesday, Rivian’s stock price declined by 7.77% to $21.85, according to data from Zenger News Pro. So far this year, the stock has gained approximately 28.5% but is still nearly 82% down from its peak hit during its market debut in November 2021.

© 2023 Zenger News.com. Zenger News does not provide investment advice. All rights reserved.

Produced in association with Benzinga

Edited by ISAAC OKOTH NYAMUNGU and Newsdesk Manager

JERUSALEM — Israeli military fought holdout Hamas terrorists and pounded key areas in the Gaza Strip on Sunday as PM Benjamin Netanyahu warned of a “long and difficult” war ahead. This warning comes hours after the Palestinian militants of Hamas formation launched a deadly surprise attack on Israel. 

“The country is “embarking on a long and difficult war” as it deals with an unprecedented hostage crisis after Palestinian militants launched a surprise land, sea and air attack from Gaza, killing hundreds and infiltrating into Israeli territory,” said Israeli Prime Minister Benjamin Netanyahu.

The Hamas strikes on Saturday amounted to the deadliest occurrence in decades. The attacks come after a period of increased violence between Palestinians as well as Israelis. The decades-long wars are now headed into new uncharted and fatal territory. Questions keep lingering in people’s minds over how the whole Israeli forces and intelligence team could be caught unawares in one of the nation’s worst security overlap.  

“Israel’s political-security cabinet convened late Saturday and made a series of operational decisions aimed at bringing about the destruction of the military and governmental capabilities of Hamas and the Islamic Jihad, in a way that would negate their ability and desire to threaten and harm the citizens of Israel for many years to come,” read a statement from the office of Israel’s Prime Minister.

The Israeli military embarked on a rescue mission. It deployed thousands of its personnel to secure the southern desert areas close to the coastal enclave, targeting to recapture the Israel hostages. Gun fights raged the air in towns as well as highways in a bid to evacuate the whole place within one day.   

“We’ll reach each and every community till we kill every terrorist in Israel,” vowed military spokesman Daniel Hagari. This assertion comes just a day after several Hamas terrorists infiltrated Israel by use of vehicles, water boats, alongside motorized paragliders bombing the Southern part killing people and destruction of properties. 

On Sunday October 8, Israel was attacked from the north when Lebanon’s Hezbollah threw guided missiles as well as artillery shells in what it termed as “in solidary” with the unequivocal Hamas offensive. However, there were no casualties reported.  

“The worst fighting in decades has killed more than 200 Israelis and wounded over 1,000, leaving bodies of civilians strewn on roads, while on the Gaza side at least 313 have died and over 1,700 were reported wounded,” said Hagari. 

“An unknown number of Israelis were abducted as hostages, sparking dismay in Israel and massively complicating its military retaliation campaign,” he added, “dozens of Israeli captives, including numerous women, children and elders, are believed to have been taken into the Gaza Strip.”

Edited by Judy J. Rotich and Newsdesk Manager

ADDIS ABABA, Ethiopia — Addis Ababa, Ethiopia was the center stage for a meeting of several African cities Mayors including four four cities in Ethiopia, senior experts and other VIP guests in an African Mayors Leadership Initiative (AMALI). The Initiative which started in Capetown South Africa in January offers participating Mayors from African cities access to resources,  experts in different fields and technical support to assist them in improving outcomes in their areas of jurisdiction.

H.E. Mayor Adanech Abiebie received the international dignitaries including other African Cities Mayors, High level government delegations, International organizations and other high level visitors and welcomed them to Addis Ababa.

The Addis Ababa Mayor held an opening ceremony including giving a speech and a presentation to introduce and update the local and international dignitaries with her administration’s Legacy Goals. 

“The main purpose of this coverage is to promote the goodwill of the program partners including Big Win philanthropy, African Center for Cities, and Bloomberg Philanthropies, the collaboration of African Mayors, and highlighting the trajectory and responsibility that African Mayors are undertaking to meet the goals of African cities,” said a communique from the Addis Ababa Mayo’s office.

“This morning, we gave a warmest welcome to the Mayors of African cities, leaders of international organizations and philanthropies, who came to participate in African Mayoral Leadership Initiative AMALI reunion: an initiative for promoting mutual learning and devising African solutions for African problems,” said Mayor Adanech noted in a post on X after according a warm welcome to the guests of the forum.

“We shared our success stories. Making Addis the best city to raise children and visited our showcases. They will also visit our city more. Happy to have fellow African mayors in their second home,” said the Mayor, stressing that “AMALI is a plus to our Pan-Africanism commitment.”

“The capital will host the African Mayoral Leadership Initiative (AMALI) on October 5 & 6. On October 9 & 10 an international consultation forum to help establish a center of excellence for the Early Childhood Development Program will be held in Addis Ababa. Similarly, from October 9 to 12, 2023, Addis Ababa will host experience exchange forums for government officials,” said a statement from the the head of the Addis Ababa Communication Bureau, Ms Enatalem Meles. 

The forum provides a networking forum for African mayors and allows them a platform to share knowledge, experiences and best practices. 

Edited by Virginia Van Zandt and Newsdesk Manager

Elon Musk’s acquisition of Twitter, now known as X, has led to unforeseen financial challenges. 

“This is just my strong, intuitive sense that having a public platform that is maximally trusted and broadly inclusive is extremely important to the future of civilization,”  said Musk at a TED conference on the day he made his offer to buy to buy twitter.

“I don’t care about the economics at all,” said Elon Musk.

According to a report by Fortune, three of the seven banks that backed Musk’s Twitter purchase are now contemplating protective measures to shield themselves from potential financial repercussions.

Initially, these banks reportedly intended to transfer the debt to investors. However, they are now retaining the debt and considering selling the loans at considerable discounts to entities such as hedge funds or other distressed asset buyers.

Morgan Stanley, Barclays, and Bank of America Corp, which collectively funded nearly 70% of the acquisition, have reportedly settled on a shared “sell-down letter” effective until Jan. 15.

According to the report, while the specifics remain under wraps, such agreements ensure that if one bank gets an offer for its loans, the others can access the same deal proportionally. This strategy prevents potential buyers from forcing the banks into a price-lowering competition.

Moreover, the banks have voiced concerns over the opacity of X’s financial data. They are reportedly optimistic that X’s newly appointed CEO, Linda Yaccarino, will bring in a CFO who will offer a more transparent view of the company’s fiscal health. The lack of financial clarity has impeded the banks’ efforts to present a compelling package to prospective buyers.

Speculation is rife that Musk could use this situation to his advantage, either by purchasing a significant chunk of the debt at a discounted rate or by persuading the banks to forgive a portion of the loans. Such a move would bolster X’s financial standing, making the remaining debt more appealing to the syndicate.

© 2023 Zenger News.com. Zenger News does not provide investment advice. All rights reserved.

Produced in association with Benzinga

Edited by Miriam Onyango and Newsdesk Manager

The Israel Defense Forces on Sunday hit targets in southern Lebanon with artillery, after Hezbollah terrorists there fired mortars at the Jewish state.

There were no reports of casualties or damage.

The shells landed in the contested Mount Dov region close to the Blue Line, which demarcates the 120-kilometer (75 mile) border and was created in 2000 by U.N. cartographers to verify Israel’s withdrawal from Lebanon.

“We targeted three Israeli military sites in solidarity with the “Palestinian resistance,” said Hezbollah as it claimed responsibility for Sunday’s fire.

In response, the IDF carried out a drone strike against “Hezbollah infrastructure,” with Israeli media reporting the targeting of a tent the Iran-backed terror group set up in Israeli territory in April.

The Hezbollah outpost was constructed north of the border fence but on the Israeli side of the U.N.-marked Blue Line. The position, located across from an Israeli military base, was reportedly initially manned by three to eight armed terrorists.

Hezbollah does not recognize the Blue Line and disputes numerous points along the border.

Last month, the IDF bolstered its forces on the country’s northern border after a Lebanese “engineering vehicle” strayed a few meters into Israeli territory. In July, the IDF revealed that armed Hezbollah terrorists were spotted patrolling the border in clear violation of a legally binding U.N. resolution.

On March 15, a terrorist who infiltrated into Israel from Lebanon planted a roadside bomb in northern Israel that severely wounded a motorist. Shareef ad-Din, 21, from the Israeli Arab town of Salem, was caught in the blast when the device detonated behind a road barrier near the Megiddo Junction, some 18 miles southeast of Haifa.

“Saturday’s Devastating multi-pronged Hamas attack on Israel was in response to both the “continued occupation and a message to those seeking normalization with it,” said Hezbollah.

The United States has been working on a landmark peace deal between Israel and Saudi Arabia, which many believed could be signed in the coming months.

Hamas killed more than 250 Israelis on Saturday—the Jewish holiday of Simchat Torah—as it launched a massive offensive from the Gaza Strip, including firing more than 3,000 rockets and sending dozens of Palestinian terrorists to infiltrate the Jewish state.

In April, Hamas fired 34 rockets from southern Lebanon towards northern Israel in the biggest attack emanating from the Hezbollah-controlled country since the 2006 war.

Produced in association with Jewish News Syndicate

Edited by Judy J. Rotich and Newsdesk Manager

Israel’s Security Cabinet early on Sunday morning made a series of decisions marking the start of the offensive phase of “Operation Swords of Iron,” ordering the Israel Defense Forces to prepare for the “destruction of the military and governing capabilities of Hamas and [Palestinian] Islamic Jihad.”

“We are embarking on a long and difficult war that was forced on us by a murderous Hamas attack,” said Israeli Prime Minister Netanyahu.

“We will restore security to the citizens of Israel and we will win,” he vowed.

“The first stage is ending at this time with the destruction of the vast majority of the enemy forces that infiltrated our territory. At the same time, we have begun the offensive phase, which will continue with neither limitations nor respite until the objectives are achieved,” he added.

Among the Cabinet’s decisions was to halt the supply of electricity, fuel and goods to the Gaza Strip.

As Israel readied its response to Saturday’s attacks, four divisions of reservists were being deployed to the Gaza border, joining the 35 battalions already deployed to the area, the army said.

Hamas killed at least 250 Israelis and wounded more than 1,800 on Saturday in a massive offensive launched from the Gaza Strip, including firing thousands of rockets and sending dozens of terrorists to infiltrate the Jewish state.

Of the 1,864 wounded, 19 remain in critical condition, the Israeli Health Ministry announced on Sunday morning. In addition, 326 Israelis sustained severe wounds, while 359 were moderately wounded.

”821 people suffered light injuries, 20 were treated for anxiety and another 223 are under medical supervision,” said the Health Ministry’s most recent figures.

Hamas claims to have taken 163 Israeli captives to Gaza. Channel 13 reported late Saturday afternoon that Israel has confirmed that at least 11 people have been taken hostage in the Hamas-ruled enclave.

Overnight Saturday, Palestinian terrorist groups in the Gaza Strip continued to fire rockets at Israel’s southern region, with a direct hit reported at Ashkelon’s Barzilai Medical Center. The projectile struck a bridge between hospital buildings and no casualties were reported, Channel 12 said.

Meanwhile, security forces, including 35 IDF battalions, continued their search for Hamas infiltrators throughout southern communities. Following a day-long standoff, hostages were freed after exchanges of fire in Kibbutz Be’eri and Ofakim.

Control was also regained over the area surrounding the police station in Sderot, where 10 Hamas terrorists were killed after the Israel Police ordered the building destroyed.

Produced in association with Jewish News Syndicate

Edited by Judy J. Rotich and Newsdesk Manager

A week filled with significant events impacting the markets culminated in an unexpectedly strong September jobs report.

The U.S. Congress managed to avoid a dramatic government shutdown just hours before the midnight deadline Oct. 1 by passing a stopgap funding bill. This bill ensures the continuation of government operations through Nov. 17, excluding new funding for border security and Ukraine. On Tuesday, the House of Representatives made a historic decision to oust Speaker Kevin McCarthy, following a motion initiated by Rep. Matt Gaetz (R-FL) in response to McCarthy’s collaboration with Democrats to prevent a government shutdown.

Throughout the week, yields across the Treasury curve continued to rise. The 10-year Treasury yield surged past 4.75%, reaching its highest level in 16 years. On Friday, the 30-year yield crossed the 5% threshold, driven by a jobs report that exceeded expectations. Funds and ETFs investing in long-dated Treasury bonds such as the PIMCO 25 Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund (NYSE:ZROZ) or the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) have now lost more than 50% of their value since March 2020.

 The September jobs report showed stronger-than-anticipated employment growth. Non-farm payrolls increased by 337,000 last month, marking the largest monthly gain since January and far surpassing the expected 170,000. August NFPs were revised upward to 227,000, indicating a robust pace of hiring throughout late summer. As a result of the impressive jobs number, economists now see rising risks of further Federal Reserve tightening this quarter.

On the consumer front, Walmart reported a decrease in shopping demand attributed to the use of weight-loss and appetite-suppressing drugs such as Ozempic and Wegovy, manufactured by Novo Nordisk A/S (NYSE:NVO). Shares of beverage giants like The Coca-Cola Company (NYSE:KO) and PepsiCo Inc. (NYSE:PEP) had their worst-performing week since May 2022.

Oil giant Exxon Mobil Corp. (NYSE XOM) is considering acquiring Pioneer Natural Resources Company (NYSE:PXD) to strengthen its position in the U.S. energy sector. The potential agreement could be valued at up to $60 billion, potentially making it the largest takeover in the world this year. Shares of the target company, Pioneer, rose by as much as 10% on Friday.

 The S&P 500, tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), rebounded from four consecutive weeks of declines. Similarly, the Nasdaq 100, monitored via the Invesco QQQ Trust (NASDAQ:QQQ), posted weekly gains and recorded its strongest session since late August on Friday.

Notable sectors that displayed strength this week included the Technology Select Sector SPDR Fund (NYSE:XLK), which rose by 3%, the Communication Services Select Sector SPDR Fund (NYSE:XLC), gaining 2.1%, and the Health Care Select Sector SPDR Fund (NYSE:XLV), which registered a 1.1% increase.

Among the mega-cap stocks in the S&P 100, top performers for the week included Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL), Nvidia Corp. (NASDAQ:NVDA), Eli Lilly & Company (NYSE:LLY), and Meta Platforms Inc. (NASDAQ:META), all of which posted gains exceeding 5%. NextEra Energy Inc. (NYSE:NEE) was the laggard, down over 12% for the week.

All eyes are on the Consumer Price Index report for September set to be released on Thursday. This report will mark the last crucial piece of economic data ahead of the Nov. 1 Fed meeting. Economists predict that the annual inflation rate will slightly ease from 3.7% to 3.6% in September, and core inflation is expected to fall from 4.3% to 4.1% on a year-over-year basis. 

Other relevant economic releases include the Producer Price Index report on Wednesday, where a monthly decline from 0.7% to 0.3% is expected, and the Michigan Consumer Sentiment estimate for October on Friday.

On the earnings front, PepsiCo will report on Tuesday, while Thursday will feature Infosys Limited (NYSE:INFY), Fastenal (NASDAQ:FAST), Delta Air Lines (NYSE:DAL), Walgreens Boots Alliance (NASDAQ:WBA), and Domino’s Pizza (NYSE:DPZ). Some major financial institutions will report Friday, include JPMorgan Chase & Co. (NYSE:JPM), BlackRock (NYSE:BLK), Citigroup (NYSE:C), Wells Fargo (NYSE:WFC), PNC Financial Services (NYSE:PNC), along with UnitedHealth Group (NYSE:UNH), and The Progressive Corp (NYSE:PGR).

Produced in association with Benzinga

“Long colds” are a thing – just like long COVID, suggests a new study.

People may experience long-term symptoms for several weeks or more – or ‘long colds’ – after acute respiratory infections that test negative for COVID-19, say scientists.

Some of the most common symptoms of the ‘long cold’ included coughing, stomach pain, and diarrhea more than four weeks after initial infection, according to the research team from Queen Mary University of London.

While the severity of an illness appears to be a key driver of the risk of long-term symptoms, they say more research is being conducted to establish why some people suffer extended symptoms while others don’t.

The findings, published in The Lancet’s EClinicalMedicine, suggest that there may be long-lasting health impacts following non-COVID acute respiratory infections such as colds, flu, or pneumonia, that are currently going unrecognized.

However, the researchers do not yet have evidence suggesting that the symptoms have the same severity or duration as long COVID.

Study lead author Giulia Vivaldi said: “Our findings shine a light not only on the impact of long COVID on people’s lives but also other respiratory infections.

“A lack of awareness – or even the lack of a common term – prevents both reporting and diagnosis of these conditions.

“As research into long COVID continues, we need to take the opportunity to investigate and consider the lasting effects of other acute respiratory infections.

“These ‘long’ infections are so difficult to diagnose and treat primarily because of a lack of diagnostic tests and there being so many possible symptoms.

“There have been more than 200 investigated for long COVID alone.”

The research compared the prevalence and severity of long-term symptoms after a bout of COVID-19 with a bout of another acute respiratory infection that tested negative for COVID.

Those recovering from COVID-19 were more likely to experience light-headedness or dizziness plus problems with taste and smell compared to those who had a non-COVID respiratory infection.

While long COVID is now a recognized condition, there have been few studies comparing long-term symptoms following SARS-CoV-2 coronavirus infection with other respiratory infections.

The study is the latest output from COVIDENCE UK, Queen Mary University of London’s national study of COVID-19, launched in 2020 and still in follow-up, with more than 19,000 participants enrolled.

The latest research analyzed data from more than 10,000 UK adults, with responses collected via questionnaires and statistical analysis conducted to identify symptom clusters.

Professor Adrian Martineau, Chief Investigator of COVIDENCE UK, said: “Our findings may chime with the experience of people who have struggled with prolonged symptoms after having a respiratory infection despite testing negative for COVID-19 on a nose or throat swab.”

He added: “Ongoing research into the long-term effects of COVID-19 and other acute respiratory infections is important because it can help us to get to the root of why some people experience more prolonged symptoms than others.

“Ultimately this could help us to identify the most appropriate form of treatment and care for affected people.”

Victoria King, of Barts Charity which funded the research, said: “These findings highlight not only the long-term symptoms experienced by people after COVID infection, but by people after other acute respiratory infections as well.

“As we learn more about long COVID symptoms and their possible treatments, studies like this help to build greater awareness around other prolonged respiratory infections that may be going unrecognised.”

Produced in association with SWNS Talker