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Company advised by Trump sons said it hoped to benefit from fed money, then took it back

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NEW YORK (AP) — A public document filed by a company that just hired President Donald Trump’s two oldest sons as advisers included a sentence early Monday that said it hoped to benefit from grants and other incentives from the federal government, which their father happens to lead.

But when The Associated Press asked the Trump family business about the apparent conflict of interest, the document was revised and the line taken out.

Eric Trump and Donald Trump Jr. are getting “founder shares” worth millions of dollars in New America Acquisition 1 Corp., a company with no operating business that hopes to fill that hole by purchasing an American company that can play “a meaningful role in revitalizing domestic manufacturing,” according to the filing. The president has geared his trade policy toward boosting manufacturing in the U.S.

The original version of the securities filing said the target company should be “well positioned” to tap federal or state government incentives. That reference was taken out of the revised version.

The Trump Organization didn’t reply to a question about whether New America still planned to benefit from government programs or why the line was cut. But the outside law firm Paul Hastings that helped prepare the document sent an email to AP saying it was “mistake” made by “scriveners,” an old term for transcribers of legal papers.

Kathleen Clark, an expert in government ethics, said any excuses are too late because the Trumps had already tipped their hand.

“They just deleted the language. They haven’t committed not to do what they said earlier today they were planning to do,” said the Washington University law professor and Trump critic. “It’s an attempt to exploit public office for private profit.”

New America is what’s know as a special purpose acquisition company, or SPAC. It’s a publicly traded company that exists solely to use its funds to acquire another company and take the target public.

New America plans to raise money by selling new stock on the New York Stock Exchange at $10 a share. That will hand the two Trump sons a potential total of $50 million in paper wealth the moment the stock begins trading on the first day. The company hopes to sell enough shares to raise $300 million, which it then plans to use buying a yet unidentified manufacturer.

A press release issued by New America saying it was focused on “American values and priorities.” It made no mention of the aim to get government incentives.

The filing to New America’s potential new investors to the Securities and Exchange Commission was explicit about what it was looking for in a target company. It said, among other things, it wanted a company that can ride “public policy tailwinds” by benefiting from federal or state “grants, tax credits, government contracts or preferential procurement programs.”





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Canelo vs Crawford: UFC chief Dana White clashes with reporter at news conference

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Crawford, with 41 wins and 31 knockouts, won his first world title in 2014 at lightweight against Scotsman Ricky Burns. He went on to unify the light-welterweight and welterweight divisions before moving up again.

Saturday’s bout will be broadcast globally on Netflix, reaching a potential audience of more than 300 million subscribers.

It is the first major boxing event promoted by White alongside Saudi’s Turki Alalshikh, signalling a new, if uncertain, era for the sport.

As organisers hyped up the new partnership as the saviour of the sport and suggested boxing has been suffering for years, one of its biggest stars – and highest earners with a reported $150m purse to collect on Saturday – Alvarez, chimed in.

“Hey, boxing was always bigger, bigger and big. Don’t say boxing is not big enough. You know how big is boxing,” he said.

Alvarez pushed Crawford as tempers flared at in New York in June, but the two shared a nod and handshake to end on a respectful note.



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Asian Stocks Near Record High on Fed Rate-Cut Bets: Markets Wrap – Bloomberg.com

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  1. Asian Stocks Near Record High on Fed Rate-Cut Bets: Markets Wrap  Bloomberg.com
  2. Asian shares ride Fed easing hopes to record highs  Reuters
  3. US stocks inch to more records as inflation slows and Oracle soars  Yahoo Finance
  4. Asian shares track Wall Street rallies as a US interest rate cut next week looks more certain  The Hill
  5. Wall Street rises toward more records on expectations for easier interest rates  KTLA



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Packers vs. Commanders takeaways: Jordan Love, Micah Parsons, Tucker Kraft shine in Green Bay’s statement win

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If the Packers used a Week 1 domination of the Lions as a major statement, they backed it up and then some in Week 2. The Packers (2-0) defeated the Commanders (1-1), 27-18, fueled by an explosive, efficient offense and a tremendous defense that seemed to move at a completely different speed than Washington’s offense.

Love finished with 292 yards passing and a pair of touchdowns, with six completions for 124 yards and a score going to Kraft. Micah Parsons officially recorded a half-sack, but his impact was much larger than that, and Green Bay sacked Jayden Daniels four times while smothering would-be pass catchers.

After a slow start — Jayden Reed’s shoulder injury being the main development — Green Bay’s offense got rolling on its second drive, fueled by a 57-yard completion from Love to Kraft after Kraft broke free down the middle. Love connected with Romeo Doubs for a 5-yard touchdown shortly thereafter.

Washington did not manage a single first down in the first quarter — a first since Daniels’ arrival — and Green Bay embarked on another long drive early in the second quarter, highlighted by a remarkable, twisting 37-yard catch from Malik Heath.

Josh Jacobs powered in from two yards out to make it 13-0. Commanders defensive lineman Deatrich Wise Jr. got carted off after trying to block the extra point (which was successful), adding to Washington’s woes. He was later ruled out with a quad injury.

Washington finally got on the board with a 51-yard Matt Gay field goal, but Gay missed a 58-yarder that could have cut the deficit further just before the half. But Green Bay’s Brandon McManus then doinked a 48-yard try as time expired.

Down 17-3 after a McManus field goal, Washington finally found the end zone via a 20-yard Zach Ertz catch-and-run. Green Bay answered, though, with another touchdown drive, this one capped by Love’s 8-yard touchdown toss to Kraft.

McManus nailed a 56-yard field goal shortly thereafter to extend the lead to three scores. Daniels found Deebo Samuel Sr. for a touchdown late, but it proved to be only window dressing — and a costly one at that: Austin Ekeler suffered a non-contact Achilles injury and was carted off the field.

Washington will hope to use the mini-bye to recuperate before hosting the Raiders in Week 3. Green Bay will hope to carry momentum over to a Week 3 visit to the Browns.

Takeaways

Parsons leads overwhelming pass rush

The Commanders know Parsons very well from his time in Dallas, and he just keeps dominating them: He now has 11 sacks in nine career games against Washington.

Parsons’ impact can’t be limited to sacks, though. He drew a penalty and caused a ton of havoc in the backfield throughout the night, even as he remains on a snap count. Washington tried chipping him and double-teaming him, and that only produced middling results. It also produced openings for other pass rushers: Rashan Gary and Devonte Wyatt both had a sack, and Edgerrin Cooper, Karl Brooks and Barryn Sorrell each had a half-sack.

It also wasn’t just the plays the pass rush made. It was the plays it didn’t allow Daniels to make. He ran for just 17 yards, and Washington had just 51 as a team.

The ability to get pressure with just four pass rushers also allowed Green Bay to play aggressively in coverage. Daniels’ 4.8 yards per pass attempt were his lowest in a full game in his career.

Love, Kraft spearhead big-play offense

Love had eight completions of at least 15 yards, spread out to five different receivers. Three went to Kraft, a testament to the tight end’s all-around abilities. He led all tight ends in average yards after catch last year, and he showed off his ability to get downfield, too. He broke several tackles Thursday night, leading to key extra yardage that either moved the sticks or made it a more manageable down and distance.

Love, meanwhile, found plenty of open targets downfield, and even when they weren’t open, receivers often made plays — Heath’s catch is worth watching again and again.

Love also didn’t throw an interception for a ninth straight start, which ties Aaron Rodgers for the second-longest streak by a Packers quarterback since at least 1950. When Love doesn’t put the ball in harm’s way, that usually leads to success: Green Bay is 13-4 in his starts when he doesn’t throw an interception.

Commanders offense struggles to find any success

The 18 points Washington scored isn’t by any means an impressive total, but it’s also perhaps even generous given the myriad issues. Josh Conerly Jr. had a rough night going up against Parsons. It’s been a rude introduction to the NFL for Conerly, the first-round pick our of Oregon, who switched from left tackle to right tackle and has promptly had to face Brian Burns, Abdul Carter and Parsons in his first five days of regular-season football.

Conerly’s struggles aside, Washington’s passing attack was anemic; Daniels went 1 for 7 on throws at least 15 yards downfield, with his receivers often blanketed, and Washington’s quick-hitting plays were completely smothered much of the night. Without the threat of the run game, Washington failed to find anything sort of rhythm, and their 230 total yards also marked the fewest since Daniels’ arrival.





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