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Happy Friday! The ancient Egyptians still have some secrets left. Archaeologists may have discovered a hidden chamber in an Egyptian temple. Base of the Great Pyramid of Giza.
But first, the verdict was reached.
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The big story
President’s Verdict
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Guilty on all counts.
In a historic verdict, former President Donald Trump was found guilty. A total of 34 criminal counts related to payments to porn actressesBusiness Insider’s Laura Italiano, Jacob Shamsian, and Natalie Musumeci wrote:
It’s the first time a U.S. president has been convicted of a crime, according to the veteran courtroom sketcher who chronicled the moment. Trump looked ‘devastated’ By verdict.
Jurors took fewer than 10 hours over two days to reach a verdict in the case, which focused on the $130,000 hush money paid to adult film actor Stormy Daniels 11 days before the 2016 election.
A key factor in the deliberations may have been the judge’s “rain analogy” instruction, as jurors on Thursday asked to hear again the concept that seeing a wet umbrella allows one to infer that it is raining, even if it is not actually raining. Suggesting that they were considering Trump’s intentions.
Trump’s sentencing is scheduled for July 11 and he could face up to four years in prison, but don’t expect things to move forward anytime soon.
Legal experts told BI’s Lloyd Lee that Trump is unlikely to face any punishment before the election. The appeals process will undoubtedly be lengthy.(Mr. Trump See inside the prison For these charges, anyway.
Meanwhile, the 77-year-old, who is a leading contender for the Republican presidential nomination, He didn’t mince words even after the verdict was handed down..
“This is a disgrace. This was a rigged trial by a conflicted and corrupt judge,” Trump told reporters in a Manhattan courtroom.
“I’m a completely innocent man,” he added.
Trump didn’t waste any time either. Applying his beliefs to fundraising opportunitiesA graphic on his campaign website described him as a “political prisoner.”
Chip Somodevilla/Getty; Scott Eisen/Getty Images; BI
So what does this guilty verdict actually mean for Trump?
He can Still running for president As a convicted felon, two previous candidates I did it in prison.Unlike Trump, however, their chances of winning were slim.
And even if convicted, he wouldn’t be stopped from voting unless he was in prison on Election Day. According to a lawyer who spoke to NBC News,.
It could even be said that a guilty verdict would likely not change feelings about Trump, for better or worse, and may even intensify resistance from his supporters and opponents alike.
(Anyway, I’m curious if you feel differently about Trump. Vote Here.
The reality is that Trump’s fate still hinges on the November election. “The real verdict will be made by the American people on November 5th,” Trump told reporters on Thursday.
At least one person agrees. President Joe Biden.
Three things in the market
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- Wall Street veterans share their biggest hits. Top investors like Rob Arnott and Bob Elliott share details The best deal of their career and the lessons they learned from itFrom a 93% gain in three months to a big bet on the volatility index, these are standout bets.
- Elliott Management has raised a huge amount of capital. Here’s how they’re spending it: Paul Singer’s vaunted hedge fund raised $8.5 billion. According to a letter to investors seen by BI:The company, which has a market capitalization of $66 billion, is bracing for a market downturn that could create an opportunity to liquidate bad loans, its specialty.
- Tech-savvy hedge funds are hiring top AI talent. BI collected salary data for AI-related roles from eight hedge funds and proprietary trading firms. Who is paying the most? He has worked for companies such as Bridgewater, Two Sigma and Jane Street.
Three things about technology
Leak exposes some of Google’s closely guarded search secrets
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- The SEO industry hasn’t been happy with Google lately. A trove of 2,500 documents containing highly coveted secrets about how Google ranks search result pages emerged this week, and SEO experts said the documents show that Google hasn’t always been honest. When answering questions about how websites are ranked.
- In further Google news, it has been revealed that the company is scaling back its AI search plans. Liz Reid, head of search at the tech giant, said in a blog post on Thursday that Google Reverting to using AI-generated answers This feature allows users to Add glue to pizza sauce.
- Microsoft appears concerned about its OpenAI deal with Apple. CEO Satya Nadella met with Sam Altman to discuss the deal, The Information reported. Nadella said: Potential impact on Microsoft product development.
Three things in business
Shopify, Kevin Dietsch/Getty Images, Alyssa Powell/BI
- The Shopify Plus brand will no longer be used. according to Leaked internal memoShopify Plus, the more premium version of Shopify’s SaaS products, has “ended its life cycle” and the company said it will no longer refer to it as a separate brand.
- The housing market appears to be recovering. Supply, price growth and home sales all appear to be improving from historical conditions, Charles Schwab said in a recent note. That doesn’t mean it will grow faster..
- Fired TikTok staff speak out. The company has bucked the trend among big tech companies by refraining from cost-cutting efforts, but last week began laying off employees across its operations and marketing teams. Several former employees told BI how they felt about the layoffs..
In other news
Today’s happenings
- The Bureau of Economic Analysis is due to release April PCE inflation data, the Federal Reserve’s preferred inflation gauge.
From the Insider Today team: Deputy editor and anchor Dan DeFrancesco in New York; editor Jordan Parker Erb in New York; managing editor Hallam Bullock in London; reporter George Glover in London.