Stormy Daniels wins $450,000 after 'politically motivated' Ohio strip club arrest

Michael Avenatti is in a world of hurt, criminal defense attorney says

Criminal defense attorney Gary Gerstenfield says Michael Avenatti’s action was an attempt to shakedown Nike.

COLUMBUS, Ohio (AP) — Ohio’s capital city has formally approved a $450,000 settlement for porn actress Stormy Daniels over her 2018 strip club arrest.

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CHATTER ABOUT TRUMP'S HEALTH 'POLITICAL, NOT MEDICAL': DR. SIEGEL

Daniels’ federal defamation lawsuit against several Columbus officers alleged officers conspired to retaliate against her over her claims that she had sex with Donald Trump before he became president.

Columbus City Council approved the settlement Monday night for Daniels, whose real name is Stephanie Clifford. The Dispatch reports Clifford originally demanded $2 million, according to the city solicitor general.

Clifford’s attorneys are challenging a request by Trump’s lawyers to stake claim to the settlement.

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Trump's lawyers have noted in a filing to the court involved in the Columbus judgment that Clifford owes him $293,052 after a judge dismissed a defamation lawsuit she had filed against the president.

European Economics Preview: Germany Producer Price Data Due

Producer price data from Germany is due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany’s producer price figures for October. Prices are forecast to drop 0.4 percent on a yearly basis, following a 0.1 percent fall in September.

At 3.30 am ET, Sweden capacity utilization for the third quarter is due.

At 4.00 am ET, the European Central Bank publishes Financial Stability Review.

Half an hour later, the UK Office for National Statistics releases labor productivity data for the second quarter.

In the meantime, Greece current account figures for September are due.

Apple Starts Construction Of New $1 Billion Austin Campus

Apple Inc. (AAPL) said Wednesday that it has started construction of its new $1 billion, 3-million-square-foot campus in Austin, Texas. The announcement comes amid President Donald Trump is scheduled to tour the company’s manufacturing facility in Austin later on today.

The campus will initially employ 5,000 people, with the capacity to grow to 15,000 employees, and is expected to open in 2022.

Apple currently employs about 7,000 employees in Austin.

The company stated that, at a production facility just a short distance away, it is preparing to ship the all-new Mac Pro to customers starting in December. The new Austin campus will run on 100 percent renewable energy, including solar power generated on site.

Apple said it continues its expansion in Boulder, Culver City, New York, Pittsburgh, San Diego and Seattle.

RBI supercedes DHFL board, appoints an administrator

The banking regulator further said insolvency proceedings will be intimated against the company

The Reserve Bank of India has superceded the board of troubled mortgage lender Dewan Housing Finance Corporation (DHFL) and has appointed an administrator.

The banking regulator further said insolvency proceedings will be intimated against the company.

This will be the first case of insolvency proceedings against a financial sector entity after norms were modified to allow such action.

RBI said the actions were taken due to governance concerns and defaults by DHFL in meeting various payment obligations.

R. Subramaniakumar, ex-MD and CEO of Indian Overseas Bank has been appointed as the administrator.

Read the full text of Gordon Sonldland’s opening statement in impeachment hearing

WASHINGTON – Gordon Sondland, the U.S. ambassador to the European Union who is at the center of the ongoing impeachment inquiry, testified in a public House Intelligence Committee hearing on Wednesday about allegations that President Donald Trump pressured Ukraine to open investigations for personal political gain. 

In his opening statement, Sondland told the committee that he did not wish to work with Trump’s personal attorney Rudy Giuliani, who was pushing for investigations into Ukraine’s role in the 2016 election and Burisma, an energy company whose board included former Vice President Joe Biden’s son, Hunter Biden. But he said he and other officials “played the hand we were dealt” and “followed the President’s orders” to work with the former New York City mayor. 

“Mr. Giuliani’s requests were a quid pro quo for arranging a White House visit for President Zelensky” in exchange for “a public statement announcing investigations of the 2016 election/DNC server and Burisma.” He also said Giuliani “was expressing the desires of the President of the United States, and we knew that these investigations were important to the President.” 

Sondland said he came to believe that military aid to Ukraine was suspended “until there was a public statement from Ukraine committing to the investigations.” 

Read Sondland’s full statement here: 

Neptune Wellness and Canopy Growth agree to amend terms of cannabis processing deal

Neptune Wellness Solutions Inc. NEPT, +0.20% said Wednesday it has reached a mutual agreement with Canopy Growth Corp.s CGC, +4.63%WEED, +8.15% to amend and restate their cannabis processing agreement. The parties have agreed to an amended schedule of processing volumes committed to Neptune by Canopy and to the removal of certain preferential rights granted Canopy related to Neptune’s capacity and pricing. "Effective June 30, 2020, volume and pricing will be negotiated between the two parties based on market conditions," Neptune said in a statement. The 3-year term of the deal remains intact. "As a result of the revised terms, Neptune expects to reduce its client concentration risk and diversify its customer base," said the statement. Neptune shares were up 2.2% premarket. Canopy was up 6.4%, but remains down 43% in 2019, while the ETFMG Alternative Harvest ETF MJ, +4.92% has fallen 33% and the S&P 500 SPX, -0.17% has gained 24.5%.