President Donald Trump has accused his former lawyer Michael Cohen of making up “stories in order to get a ‘deal’ from federal prosecutors”.
Photo credit: Gage Skidmore/Creative Commons
Wall Street enjoys longest bull market streak but biggest public listing in history suspended. Delano’s breakfast briefing.
The fallout over the conviction of Donald Trump’s former campaign manager and the guilty plea of his former lawyer continues to dominate headlines and opinion columns. The Washington Post reckons there are plenty of corroborating documents and witnesses to back up Michael Cohen’s claims over the payment of hush money to two women. The Financial Times puts the case that legal recourse against the president while he is in office is unlikely, and that politics will decide his future. Trump meanwhile hit back a Cohen, accusing him of making up stories to do deal, and tweeting: “If anyone is looking for a good lawyer, I would strongly suggest that you don’t retain the services of Michael Cohen!”
Luxembourg election scandal
Meanwhile in Luxembourg the case of the newly formed Demokratie party is the main story. The party is accused of having submitted candidate lists featuring the names of people who had not agreed to stand for election. The case has brought into focus election law and procedures because the party cannot withdraw its candidate lists once they have been submitted. More on this in Delano later today.
Australian leadership crisis
In what The Guardian is calling a shocking and remarkable day in Australian politics, prime minister Malcolm Turbull has suggested he will walk from parliament if he loses a leadership battle.
Bull market record
Scandals or not, The Guardian reports that the S&P 500 share index, tracking the 500 biggest public companies in America, has now officially enjoyed the “longest bull market in US history.” Since March 2009 the index has not recorded a fall of 20% or more.
Aramco listing suspended
Wall Street did suffer a blow, however, when Saudi Arabian oil giant Aramco called off what would have been the biggest public listing in history. Experts had questioned Crown Prince Mohammed bin Salman’s valuation of the company at $2 trillion, Reuters reported. The New York, London and Hong Kong stock exchanges had all hoped to host the international tranche of the share sale.
Ryanair’s unsigned cheques
Budget airline Ryanair has issued an apology after passengers complained of delays in receiving compensation because cheques issued by the company had failed to clear. The Guardian reports that the airline cancelled several cheques because they had been issued without a signature.
In what animal rights campaign group Peta claims as a victory, food manufacturer Nabisco on Wednesday revealed new packaging for its Barnum’s Animal Crackers brand. Rather than depicting animals in circus cages, the new packet shows them “roaming free in a savannah-like paradise” says The Guardian.
Woods-Mickelson exhibition match
In a move more familiar to the world of boxing than golf, Tiger Woods and Phil Mickelson confirmed via Twitter that they will play an exhibition match in Las Vegas on 23 November. ESPN reports that Turner Sports will offer $9 million to the winner of the pay-per-view event.
Today’s breakfast briefing was written by Duncan Roberts