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Facing a $2 billion decision, Trump says he will keep his Truth Social shares
After waiting six months -- and losing $4 billion on paper -- former President Donald Trump faces a potential windfall from his social media company. Half a year after the public company behind Trump's Truth Social platform went public, the "lockup" agreement that prevented Trump from selling any of his 115 million shares expired on Thursday afternoon. Beginning to sell his shares could allow Trump to profit handsomely from his stake in the company -- which is currently valued at approximately $1.7 billion -- but it could crater the stock for the company's diehard supporters, many of whom invested their money in the company as a sign of their support for the former president. At the same time, holding onto the investment would be a financial leap of faith for Trump, whose shares comprise a large percentage of his net worth but have lost billions of dollars in value over the last six months.
Facing a $2 billion decision, Trump says he will keep his Truth Social shares
After waiting six months -- and losing $4 billion on paper -- former President Donald Trump faces a potential windfall from his social media company. Half a year after the public company behind Trump's Truth Social platform went public, the "lockup" agreement that prevented Trump from selling any of his 115 million shares expired on Thursday afternoon. Beginning to sell his shares could allow Trump to profit handsomely from his stake in the company -- which is currently valued at approximately $1.7 billion -- but it could crater the stock for the company's diehard supporters, many of whom invested their money in the company as a sign of their support for the former president. At the same time, holding onto the investment would be a financial leap of faith for Trump, whose shares comprise a large percentage of his net worth but have lost billions of dollars in value over the last six months.
Witness gets emotional recounting doomed Titan dive during Coast Guard hearing on submersible implosion
A witness got emotional recounting the day of the doomed Titan submersible dive while testifying Thursday during the U.S. Coast Guard's hearing into the deadly implosion. Renata Rojas, a banker who had previously gone on a dive to the Titanic on the experimental vessel, was volunteering and assisting the surface crew during the 2023 expedition when the submersible catastrophically imploded on a deep-sea voyage to the shipwreck site, killing five people, including OceanGate founder Stockton Rush. The hearing took an approximately 10-minute break on Thursday during Rojas' testimony so that she could compose herself before discussing the June 18, 2023, dive. "They were just very happy to go," Rojas recalled of the passengers, crying during her testimony. "That's the memory I have. Nobody was really nervous. They were excited about what they're going to see."
Woman suffers burns while walking off-trail in thermal area by Yellowstone's Old Faithful
A 60-year-old woman was walking off-trail in Yellowstone National Park when she suffered burns from scalding water in a thermal area by Old Faithful, park officials said. The woman was walking with her husband and their dog in a thermal area near Mallard Lake Trailhead on Monday afternoon "when she broke through a thin crust" over the extremely hot water, suffering second-degree and third-degree burns to her leg, the National Park Service said. The woman, who was visiting Yellowstone from New Hampshire, was taken to a park medical clinic and later flown to a hospital for further treatment, officials said. Her husband and dog were not hurt, park officials said.
Ex-officer in Tyre Nichols beating case texted photos from fateful night, former girlfriend testifies
A former Memphis police officer on trial in the beating death of Tyre Nichols texted photos of a bloodied Nichols to his then-girlfriend, she said Wednesday during testimony. Brittany Leake, an officer with the Memphis Police Department (MPD) who used to date Demetrius Haley, said Haley texted her and one of her family members a photo of Nichols that showed the 29-year-old leaning against a police car, bleeding from his mouth, wearing a torn shirt, appearing dirty and with his eyes closed, according to WATN, the ABC affiliate in Memphis covering the case in the courtroom. Haley is on trial along with Justin Smith and Tadarrius Bean, who were charged on Sept. 12, 2023, with violating Nichols' civil rights through excessive use of force, unlawful assault, failing to intervene in the assault and failing to render medical aid. These charges carry a maximum penalty of life in prison, according to the U.S. Department of Justice. The officers have pleaded not guilty to all charges. “I wasn’t offended, but it was difficult to look at,” Leake said, claiming she deleted the photo, according to WATN.
What does the Fed interest rate cut mean for mortgages and homebuyers?
The Federal Reserve delivered a jumbo-sized rate cut this week in a move widely viewed as a declaration of victory over inflation and a signal of relief for borrowers. Few areas of the economy welcomed the news more than the nation’s sluggish housing market, where high mortgage rates have largely shut out homebuyers. Experts who spoke to ABC News cautioned that the rate cut would not deliver an immediate drop in mortgage rates or a loosening up of the housing market. Mortgage rates had already dropped over recent months in anticipation of the rate cut, they said. They forecasted a gradual thaw in the market as homebuyers perk up and borrowing costs slowly decline.
Judge agrees to push Hunter Biden's sentencing in gun case to Dec. 4
The federal judge overseeing Hunter Biden's conviction in Delaware on gun charges agreed Thursday to push back his sentencing date three weeks, from Nov. 13 to Dec. 4, granting a request by President Joe Biden's son to allow more time for his attorneys to gather materials for his sentencing memorandum. In their request this week to delay the sentencing, attorneys for Hunter Biden invoked the upcoming presidential election on Nov. 5 as one reason for the request. "Several people who plan to submit letters to both Courts as part of sentencing memoranda for Mr. Biden are short of time because they are presently involved in government work and travel with the current Administration, or are involved in the 2024 presidential campaign," attorneys for Hunter Biden wrote. Attorneys for Hunter Biden also suggested that they may have "in-person witnesses" prepared to testify on his behalf, including some who "may not be available until after November 5 and the events that could occur right after that date."
Puerto Rico's infrastructure still recovering from Hurricane Maria seven years after the Category 4 storm devastated the island
Puerto Rico is still recovering from Hurricane Maria -- nearly seven years after the powerful Category 4 storm caused extensive damage to the island's already delicate infrastructure. September marks National Preparedness Month and the start of Hispanic Heritage Month -- stark reminders of the work that remains to be done on the island, especially as climate change could lead to more rapidly intensifying hurricanes in the Atlantic Basin. Getting Puerto Rico to the necessary storm preparedness is about "justice and fairness" in protecting a unique culture and heritage that belongs to the United States, Jorge Gonzalez-Cruz, professor at the University of Albany's Atmospheric Sciences Research Center who has researched urban energy sustainability in Puerto Rico, told ABC News. "We are U.S. citizens and deserve the best possible opportunity to develop and grow and have a sense of well-being and prosperity," said Gonzalez-Cruz, who was born and raised on the island.
Instagram imposes new restrictions for teens. Will they work?
Instagram this week unveiled mandatory accounts for teens that bolster privacy protections, enable parental supervision, and restrict notifications during overnight hours. New and existing users under the age of 18 will be automatically enrolled in what Instagram is calling "Teen Accounts," the company said. The move comes 16 months after U.S. Surgeon General Vivek Murthy warned in an advisory that excessive social media could pose a “profound risk” to the mental health of children. Instagram also has faced pressure from some federal and state lawmakers seeking to regulate social media use among children and teens. Experts who spoke to ABC News differed about whether Meta's new restrictions for teen users would effectively mitigate the risks that young Instagram users face.
Body discovered near site of Kentucky interstate shooting believed to be suspect: Police
Kentucky State Police announced Wednesday night that the body discovered in the woods earlier in the day not far from where the I-75 shootings took place is believed to be suspect Joseph Couch. "There were articles associated with the body that at this time we feel is Joseph Couch," an official said at an evening news conference. The coroner's office will make a final determination, officials said. Troopers and two citizens found the body together in the vicinity of exit 49 in Laurel County, according to the authorities.
Ex-officer cross-examined in trial of Tyre Nichols' beating death
A former Memphis police officer who pleaded guilty to charges connected to the beating death of Tyre Nichols faced cross-examination from defense attorneys Wednesday. Emmitt Martin III testified at the trial of the three former officers -- Justin Smith, Tadarrius Bean and Demetrius Haley -- who were charged on Sept. 12, 2023, with violating Nichols' civil rights through excessive use of force, unlawful assault, failing to intervene in the assault and failing to render medical aid. These charges carry a maximum penalty of life in prison, according to the U.S. Department of Justice. The officers have pleaded not guilty to all charges. Stephen Leffler, Haley's attorney, mentioned that the boots of the ex-officers involved in the encounter were taken into evidence after the incident, according to WATN-TV, the ABC affiliate in Memphis covering the case in the courtroom. Martin said that blood was found on his and Haley's shoes. Martin Zummach, Young's lawyer, claimed that the no-snitch rule the former officer's unit followed didn't apply to Smith or Bean because they had only worked 11 shifts with Martin. The ex-officer disagreed and said the rule was understood by Smith and Bean as well.
Sean Combs bail request denied, will stay in Brooklyn jail, not Miami mansion
Sean Combs has asked a judge to allow him to wait for his sex trafficking trial, not in the Brooklyn jail where he is currently being held. Instead, he wants to be allowed to stay at his Florida mansion near Miami Beach.
Dozens injured after wagon overturns at Wisconsin apple orchard: Authorities
More than two dozen people were injured, including three critically, after a wagon overturned at an apple orchard in Wisconsin, authorities said. The incident was reported Wednesday morning at Bushel and a Peck Apple Orchard in Chippewa Falls. Elementary school-age children, parents and other chaperones were on a field trip at the time and were on a wagon ride, according to Chippewa County Sheriff Travis Hakes. A tractor was pulling two wagons at a "low speed" on a public road when the accident occurred, Hakes said.
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