Insider Finance - Business - The clock is ticking for Trump

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June 14, 2023

Hello, Insiders. Hallam Bullock here, an editor on our audience team. Former President Donald Trump again made history with his appearance yesterday in a Miami courthouse. Only about 100 people witnessed the proceedings. Kimberly Leonard, a senior correspondent at Insider, was one of them, and shared what it was like to witness a somber-looking Trump in person.

At this point, many are wondering whether Trump is headed to prison or the White House. So, in an ever-changing situation, we’ve broken down what happens next and what to expect.

Oh, and it’s Trump’s birthday today — in his own words: “Nice birthday, isn't it?”

In today’s edition:

China’s economy is way more screwed than anyone thought.
San Francisco's downtown just entered a new phase of its crisis.
Pay raises just caught up with inflation for the first time in two years.

— Hallam Bullock

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THE LATEST

Putin, Fed, & Mount Everest

Vladimir Putin admitted that Russia sorely lacked the firepower it needed for the war in Ukraine, saying that it is missing drones, warplanes, and ammunition. Read more.
The Federal Reserve is set to announce a critical rate-hike decision today. One of our senior editors broke down what to expect. Check out our analysis here.
A climber who was saved on Mount Everest has been accused of refusing to pay a $10,000 rescue fee. The allegation has caused a social-media frenzy. More here.

THE BIG STORY

Trump makes history

Win McNamee/Getty Images

Yesterday, former President Donald Trump pleaded not guilty to a 37-count indictment against him. The charges relate to the mishandling of classified documents — just one item on the list of legal problems Trump is currently facing.

Now, the clock is ticking. Special counsel Jack Smith, the prosecutor overseeing the case, said he'd seek a "speedy trial" to bring Trump to justice — but things aren’t that simple.

In the meantime, Trump won't be kept in jail ahead of trial or have a bond imposed upon him. After all, somebody who is trying to become US president is unlikely to flee the country.

Judge Aileen Cannon will now set the schedule. In the coming weeks, prosecutors will start giving Trump’s lawyers all the evidence they may bring to trial. And, if the case does indeed go to trial, Trump would likely find himself back in a courtroom.

READ THE FULL STORY HERE

TOP READS

China, Fox News, & more

iStock; Rebecca Zisser/Insider

China’s economy is more screwed than anyone thought. Wall Street was expecting the country’s economy to boom after its post-COVID reopening. But with disappointing industrial production, slowed trade, and a private sector that’s running scared, those dreams have officially gone bust.
Fox News thought this was Melania at Donald Trump's court appearance. It's actually his 27-year-old spokeswoman. Margo Martin was mistaken for the former first lady yesterday — even though Melania Trump stayed in New York while her husband appeared in court in Florida. Take a look.
San Francisco's most prominent downtown shopping mall has gone bust. The Westfield mall used to be the beating retail heart of downtown San Francisco — but Westfield stopped paying the mortgage on the shopping mall, the San Francisco Chronicle reported. It’s a sign that SF’s downtown crisis is in a new phase.
Former colleagues of Elon Musk, Jeff Bezos, Bill Gates, and Sara Blakely opened up about what it's really like to work with a billionaire. One person said Gates could tell when someone had "slung the bull," while another reminisced about the time he said Bezos insisted on a "deliberately inefficient" meeting. More here.
Pay raises just caught up with inflation. For two years, inflation has outpaced wage growth and economic mobility stalled for many US workers. But the tables could be turning — and your raise may actually mean something. Find out more.
Meet the typical South Korean millennial. Almost 70% of South Korea's millennials have college degrees, making them overqualified for the labor market. Known as the "kangaroo tribe," many still live with their parents because of high unemployment and housing costs. More here.
The benefits of waiting to have kids. Sophie Katzman’s parents were in their 40s when they had her. Now that she’s 31, she sees many of the benefits she got from having older parents, including getting to travel as a family.

TAKE A LOOK

Ridley Scott's former home

Savills

Inside Ridley Scott’s former London home. The “Gladiator” director’s former home has gone on sale for $35 million. The house is situated in Hampstead, an affluent part of north London, and is listed as one of the area's “grandest homes.” Check it out.

WATCH THIS

Italian foods

How 19 traditional Italian foods are made. Italy is known for its artisanal foods, including gelato and burrata. Insider traveled across the country to discover how various cheeses, meats, and breads are made — and what makes them special to their respective regions. Watch here.

CAN'T GET ENOUGH?

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This edition was curated by Hallam Bullock, and edited by Lisa Ryan, Nathan Rennolds, and J.R. Stacey. Get in touch: insidertoday@insider.com.

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Insider Finance - Business - The clock is ticking for Trump

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