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Donald Trump loves the musical Cats, and like the titular creatures, the former president seems to have nine lives. Today, in the face of yet another near-death financial experience, Trump got his latest reprieve. An appeals-court panel in New York State reduced the bond he must post in a civil fraud case from more than $464 million to just $175 million.

Given that the past few months have seen Trump repeatedly use legal procedures to his advantage, drawing out the cases against him in the hope of eventually escaping them, this decision may look like yet another infuriating case of Trump extracting injustice from the justice system. But in fact it is not such an instance, and the reduction is actually quite appropriate.

Recall the timeline. In mid-February, Justice Arthur Engoron ruled that Trump must pay more than $350 million, plus interest, after he, his sons, and the Trump Organization engaged, according to the judges findings, in a years-long pattern of fraud, inflating and deflating the reported value of his assets in order to profit long-term. Trump promptly appealed the ruling, but as a defendant, he must post the value of his judgment while appealing.

David A. Graham: Trumps money problems are very real and very bad

The problem for Trump is that $350 million (which interest soon brought to nearly half a billion dollars) is a huge amount, even for him. He claims to have a net worth in the billions, but that number includes a great deal of assets that arent really available. Part of it is nebulous brand value, but a lot is in real estatevalue that cant be quickly accessed. Trump claimed in a deposition in the case that he had more than $400 million in cash and growing. Thats questionable and, even if true, wouldnt leave him enough to cover the bond.

Instead, he sought to obtain a bond from a company that specializes in such products. Bonding companies promise courts to cover the cost of a judgment. In return, they usually demand collateral from a client such as Trumpor maybe particularly from Trump, given his long history of not paying his debts. One of them this month posted a bond in the much smaller judgment against Trump for defaming the writer E. Jean Carroll. But Trump was unable to obtain a bond large enough to cover the fraud judgment, even after approaching 30 companies. His lawyers said it was a practical impossibility in a filing. (Trump, ever helpful to his own defense, claimed on social media that he actually has more than $500 million in cash.)

The bond was due today, and Trump got his good news from the court just in time. It is a stay, or pause, not a permanent reduction. For now, the original judgment amount will still be due if Trump doesnt win on appeal. Todays outcome is neither a shock nor a travesty.

Offering temporary relief on the bond makes some sense. Imagine that the panel had not reduced the bond amount. Attorney General Letitia James could have started seizing his accounts or his properties, or else he would have been forced to start selling them. But this is a terrible moment to be selling commercial real estate, because the office market has not recovered from COVID. Beyond that, any buyers would know Trump was in a pinch and be happy to profiteer off him.

Read: The cases against Trumpa guide

But then imagine that a few weeks from now, Trump won his appeal, convincing the court that Engorons finding was incorrect, or that the calculated amount of the penalty was unfair. Trump would have no way to recover the assets hed been forced to unload at fire-sale prices. It doesnt take any affection for Trump to see why a court would want to avoid such an outcome, and whyeven if Trump would still be filthy richthis would be unjust punishment.

The problem for Trump remains winning on appeal. He railed against Engoron in a statement and claimed that the judge was wrong on law, but legal experts told me that they thought Trump would struggle to win his appeal. Engorons decision was written in clear detail, as was his calculation of Trumps penalty, which is based on how much ill-gotten gain Trump extracted from his fraud. The judge here did a very good job, Jim Wheaton, a law professor at William & Mary, told me. Whether you agree or not, the judge very carefully made factual conclusions based on testimony in front of the judge. The judge made credibility decisions based on testimony of witnesses before him.

David A. Graham: Trumps fraudulent ways cost him $355 million

Trumps instinct for stalling the legal cases against him is pernicious. U.S. courts must find a way to balance the need for procedural protection with the principle that justice delayed is justice denied, and so far they have shown themselves ill-equipped; consider that the U.S. Supreme Court wont even hear arguments about Trumps immunity from criminal prosecution until a month from today. But forcing Trump to put a FOR SALE BY OWNER sign out in front of Trump Tower today wouldnt serve justice, and might actually undermine it. As for Trump, he may just be delaying that outcomebut thats another problem for him to try to wriggle, cat-like, out of on another day.

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US

US Army 250th anniversary parade taking place in Washington – watch live

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US Army 250th anniversary parade taking place in Washington - watch live

A parade marking the US Army’s 250th anniversary – and President Trump’s 79th birthday – is under way.

You can watch the event in the livestream above.

President Trump said it was going to be a “big day” and admitted: “We want to show off a little bit.”

Today is the first time in more than 30 years that tanks have rolled through the US capital.

Officials have estimated around 200,000 people could turn out, including protesters, plus 6,600 soldiers, 150 vehicles and 50 aircraft.

However, it appears far fewer have turned out – possibly due to the poor weather – and the president has warned any protesters who interfere “will be met with very big force”.

Soldiers march past the viewing podium in Washington. Pic: AP
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Pic: AP

Soldiers from the 82nd Airborne Division, dress in World War II era uniforms. Pic: AP
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Pic: AP

President Donald Trump and first lady Melania Trump. Pic: AP
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Pic: AP

A child waves as a tank passed. Pic: Reuters
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Pic: Reuters

Mr Trump is watching alongside the first lady and defence secretary as troops and military hardware file past – accompanied at times by up tempo rock music.

The event started half an hour early due to forecasted heavy rain, with cloud forcing the cancellation of a flypast by fighter jets.

Helicopters such as Apaches, Chinooks and Black Hawks are still taking part however.

Donald Trump, Pete Hegseth and first lady Melania Trump gesture while they listen to the anthem. Pic: Reuters
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Pic: Reuters

Military parachutists give off red smoke as they descend. Pic: Reuters
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Pic: Reuters

A soldier makes a heart symbol with his hands. Pic: Reuters
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Pic: Reuters

Military parachutists from the Golden Knights began the parade by swooping in, and some of the soldiers are parading in historic uniforms, complete with horses and wagons.

Vehicles from the Second World War era are also taking part.

President Trump stood and saluted many of the passing soldiers. He is said to have got the idea for the parade after being impressed with France’s Bastille Day celebrations during a visit in 2017.

Metal plates have been put down on some of Washington’s streets to protect the tarmac against the heaviest tanks – the 60-ton M1 Abrams.

Even so, the US Army has set aside several million dollars in case of any damage.

The last time such a major display took place in the US was 1991 when tanks and troops paraded to celebrate the ousting of Saddam Hussein’s army from Kuwait.

A child waves as a tank passed. Pic: Reuters
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Pic: Reuters

People ride in a tank. Pic: Reuters
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Pic: Reuters

Soldiers in period-style uniforms. Pic: Reuters
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Pic: Reuters

The event has been criticised by some for being something more associated with a dictatorial regime such as Russia or North Korea.

An estimated cost as high as $45m (£33.33m) has also raised eyebrows given the administration’s efforts to slash the budget of many federal departments.

Among the critics is California governor Gavin Newsom, who has been trading barbs with Mr Trump since the outbreak of riots in LA.

“And we all know, this Saturday, he’s ordering our American heroes – the United States military – forcing them to put on a vulgar display to celebrate his birthday, just as other failed dictators have done in the past,” he said.

President Trump raises his fist as a tank passes. Pic: AP
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Pic: AP

A tank and soldiers. Pic: Reuters
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Pic: Reuters

A period era brass band marches past playing trumpets. Pic: Reuters
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Pic: Reuters

The show of military might also comes as more than 1,500 protests against the Trump administration, organised under the slogan ‘No Kings’, have been planned across the US on Saturday.

Los Angeles is the scene of one demonstration, with police firing tear gas to disperse people and US Marines stationed outside the city’s federal building.

Tension is high in America’s second-biggest city after recent raids by immigration officers sparked unrest this week.

People hold Mexican flags during a No Kings Day protest against Trump's policies in LA. Pic: Reuters
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Pic: Reuters

People run from tear gas in LA. Pic: Reuters
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Tear gas was fired on the streets of LA. Pic: Reuters

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Politics

Bitcoin must upgrade or fall victim to quantum computing in 5 years

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Bitcoin must upgrade or fall victim to quantum computing in 5 years

Bitcoin must upgrade or fall victim to quantum computing in 5 years

Unless Bitcoin upgrades its core cryptography in the next five years, the trust it has built over 16 years could be wiped out by a single quantum attack. Urgent upgrades are needed to protect the world’s leading cryptocurrency.

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UK

Air India plane crash victim’s son says he’ll relive his mother’s last moments ‘to the day I die’

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Air India plane crash victim's son says he'll relive his mother's last moments 'to the day I die'

The son of an Air India plane crash victim, who was sitting one row behind the man who survived, has told Sky News he will relive “her last moments” until the day he dies.

Manju Mahesh Patel, 79, was on the London Gatwick-bound plane when it crashed in Ahmedabad shortly after take-off on Thursday.

She was sitting in seat 12D on flight AI 171, the row behind the only person to survive the crash who was sitting in 11A.

In an interview with Sky News, Chirag Mahesh Patel, Manju’s son, said he hopes his mother’s death was “instant” and “painless”.

“To the day I die I will think, ‘what were her last moments?’,” he said.

Pointing to a framed family photograph of Ms Patel at the family home, he added: “I want to remember mum like this.

More on India

“I don’t want to have to go and identify a burnt corpse, your own parent. How does someone, how do you ever get over that? That will be with me, that’s with me for life.”

Ms Patel had been staying in Ahmedabad for the past few months doing charity work at a temple. She was due to be picked up by her son at Gatwick on Thursday night.

The family say they want to remember Manju like this
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A family photo of Chirag Mahesh Patel with his mother

Read more on Air India crash:
Air India’s lone survivor is nothing short of miracle

Gloucester family among dead
Everything we know about the crash

In tears, Mr Patel described his mother as “very strong” and a woman “who really loved her family”.

“The thing about my mum,” he said, “is her bond with her faith. It’s unbreakable.

“She had ultimate faith… and in times of stress she would always say God’s name… So, I know that upon take-off, I know that she was saying his name.”

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What could have caused the India plane crash?

Mr Patel said that when he realised his mother was on the flight it was just “a normal day” and “it didn’t seem real”.

He said the last time he had spoken to her he had reminded her to take her diabetes medicine and had then missed a call from her at 4am to say she had arrived at the airport.

He described “the most heartbreaking thing” was how much Ms Patel was looking forward to seeing her grandchildren, saying “it was everything to her”.

She had told him she packed her suitcase with lollipops for her six-year-old grandson, and special crisps for her 15-year-old older grandchild.

Manju with her six-year-old grandson
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Ms Patel with her six-year-old grandson

“It’s unimaginable even in my worst nightmare,” he said. “And the thing that kills me… is she was so looking forward to seeing us… she kept saying I bought this for you, I bought that, I bought the things for the kids.”

Mr Patel and his wife are due to fly to India on Saturday night to provide a DNA sample to help identify his mother’s remains.

He expressed his anger at what he called a “disgusting” and “appalling” lack of communication from Air India – which he said passed his details to a hospital but never contacted him personally.

He described feeling “neglected” by the airline, which he said would only offer him an Air India flight – and no help organising accommodation.

Mr Patel said he refused to get on the Gatwick flight back to Ahmedabad and has booked with another provider to travel to India instead.

Manju with her elder grandchild
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Ms Patel with her elder grandchild

“I said [to the airline] all of this happened on Thursday, you’re telling me on Friday afternoon, do you want that flight this evening? That one crashed? The one coming back where 172 goes out? They asked do you want Air India 172? I said how can you ask me that. My mum just died on Air India.”

Mr Patel said he wanted “answers” and transparency in any air accident investigation.

Air India said in a statement: “Air India stands in solidarity with the families of the passengers who tragically lost their lives in the recent accident. Our teams on the ground are doing everything possible to extend care and support during this incredibly difficult time.

“As part of our continued efforts, Air India will be providing an interim payment of ₹25 lakh or approximately £21,000 each to the families of the deceased and to the survivor, to help address immediate financial needs. This is in addition to the ₹1 crore or approximately £85,000 support already announced by Tata Sons.

“All of us at Air India are deeply saddened by this loss. We mourn with the families, loved ones, and everyone affected.”

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Families in India wait for bodies of relatives

The company’s chief executive and managing director Campbell Wilson said in a video message posted on social media that over 200 “trained caregivers” were now in place to offer dedicated assistance to families, along with counselling and other services.

He said Air India was in the process of completing precautionary safety checks on Boeing 787 aircraft as directed by regulator the Directorate General of Civil Aviation (DGCA), which would “be completed within the timelines prescribed by the regulator”.

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Mr Wilson said he had also visited the crash site and said other members of the management team would remain present “for as long as it takes”.

The aircraft’s data recorder, often referred to as a black box, has been recovered and will form part of the investigation into the worst aviation crash in a decade.

‘He was too young’: Families grieve those lost in Air India crash

By Lisa Dowd, Midlands correspondent, in Derby

It was an emotional service at Derby’s Geeta Bhawan Hindu temple, as dozens of friends, colleagues and neighbours gathered to remember Dr Prateek Joshi, his wife Komi, their daughter Miraya, and twin sons Nakul and Pradyut.

Some wiped tears from their eyes, as a colleague was asked spontaneously to pay tribute to Dr Joshi, who had been bringing his family to live in the city, when the Air India flight they were on crashed seconds after take-off.

People cry at Geeta Bhawan Hindu temple during a service in Derby for Dr Prateek Joshi, his wife Komi, their daughter and twin sons

“He was too young, too much still to give, too much still to be done, too much to offer,” his friend told worshippers.

“He was taken from us in a very cruel and abrupt way, and his family as well, and we all think about his family back in India who is missing a son, missing a daughter-in-law and missing all their grandchildren who they’ll never see growing up.”

Derby South MP Catherine Atkinson said Dr Joshi, who was a radiologist at the Royal Derby hospital, had been “contributing to our NHS and the health of so many in our city and beyond”.

She said his wife was a pathologist who had resigned from her job in India.

“I won’t forget the photograph of them on the plane, full of optimism about their new adventure,” she said, as her voice broke.

“The losses make us all hug our families and loved ones a little closer and remind us how precious our time together is.”

A tribute to Dr Prateek Joshi, his wife Komi, their daughter Miraya, and twin sons Nakul and Pradyut, at Geeta Bhawan Hindu temple in Derby

Dr Joshi was described as a “warm, smiling man, full of joy” who enjoyed walking in the Peak District and who had discovered “a love of fish and chips”.

His neighbour and colleague Manoj Ramtohal told Sky News Dr Joshi always had time for people.

“He was very caring and very polite, very friendly, you couldn’t meet a better man than Prateek,” he said.

“We lost a very, very talented doctor.”

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