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On July 13, 2006, Stormy Daniels says, she had sex with former President Donald Trump in his suite at the Harrah’s Lake Tahoe Hotel and Casino, where he was staying during the American Century Celebrity Golf Championship. At the time, Daniels was a 27-year-old porn star who had started writing and directing adult films, and Trump was a 60-year-old billionaire real estate developer who had gained renewed celebrity as the star of the NBC reality TV show The Apprentice. He had married his third wife, former model and future First Lady Melania Trump, the previous year, and their son was four months old.

A decade later, shortly before the 2016 presidential election, Daniels agreed to keep quiet about that alleged 2006 encounter in exchange for a $130,000 payment from Michael Cohen, Trump’s personal lawyer. That agreement is at the center of Trump’s first and possibly last criminal trial, in which Daniels testified this week at the New York County Criminal Courthouse in Manhattan. In trying to peddle her story to the press as Trump was running against Hillary Clinton, Daniels told the jury, “My motivation wasn’t money. It was to get the story out.”

That implausible claim illustrates a broader problem that the prosecution faces in trying to establish that Trump committed 34 felonies by disguising his 2017 reimbursement of Cohen’s payment to Daniels as legal fees. Even leaving aside the convoluted, legally dubious theory underlying those charges, prosecutors are relying on the testimony of several key witnesses who do not seem trustworthy.

Daniels said she decided to go public with her story in early October 2016, when The Washington Post published a 2005 video in which Trump bragged to Access Hollywood host Billy Bush about what he could get away with as a celebrity. “You know, I’m automatically attracted to beautiful [women],” Trump said. “I just start kissing them. It’s like a magnet. Just kiss. I don’t even wait. When you are a star, they let you do it. You can do anythinggrab them by the pussy. You can do anything.”

Prosecutors have emphasized the importance of that recording in understanding why Trump was eager to silence Daniels. His motivation, in turn, is crucial to the argument that the hush payment was a campaign expenditure, that Cohen therefore made an excessive campaign contribution by fronting the money, and that Trump falsified business records to cover up that crime.

“Those were Donald Trump’s words on a video that was released one month before Election Day,” lead prosecutor Matthew Colangelo said in his opening statement. “And the impact of that tape on the campaign was immediate and explosive. Prominent allies withdrew their endorsements; they condemned Donald Trump’s language….The Republican National Committee even considered whether it was too late to replace their own nominee and find another candidate for the election a month before Election Day.”

Trump and his campaign staff “were deeply concerned that the tape would irreparably damage his viability as a candidate and reduce his standing with female voters in particular,” Colangelo told the jury. So the next day, when Cohen learned from David Pecker, then the CEO of the company that owned theNational Enquirer, that Daniels was pitching her story, Trump “was adamant that he did not want the story to come out. Another story about sexual infidelity, especially with a porn star, on the heels of the Access Hollywood tape, could have been devastating to his campaign.”

As Daniels tells it, she was equally determined to tell her story. Yet she ultimately decided that was less important than reaping a windfall from her silence. Daniels did not publicly discuss her relationship with Trump until March 2018, when she appeared on 60 Minutes after unsuccessfully trying to get out of her nondisclosure agreement. This was two months afterThe Wall Street Journal revealed that Cohen had paid Daniels not to do what she eventually did anyway.

In April 2018, Daniels sued Trump for defamation after he called her account of what happened in Lake Tahoe a “fraud.” A federal judge dismissed that lawsuit on First Amendment grounds that October, and Daniels lost her appeal. She was ultimately ordered to cover more than $600,000 in Trump’s legal fees, which she said she would not do.

Since going public, The New York Times notes, Daniels “has leaned into her Trump-adjacent fame. She has sold merchandise, filmed a documentary, sat for high-profile interviews and written a book that was so tell-all it included detailed descriptions of the former president’s genitalia.”

Daniels’ testimony on Tuesday likewise was a bit too graphic for Judge Juan Merchan’s taste. “At one point,” theTimes reports, “he even issued his own objection, interrupting her testimony as she began to describe the sexual position she and Mr. Trump assumed.” During a sidebar discussion, Merchan remarked that Daniels’ testimony included “some things better left unsaid” and “suggested that Ms. Daniels might have ‘credibility issues.'”

Trump lawyer Susan Necheles highlighted what she said were inconsistencies between Daniels’ testimony and the account she gave in her 2018 memoir, Full Disclosure. Necheles also suggested that Daniels had invented an encounter in which she said a Trump supporter had threatened her and her baby daughter in a Las Vegas parking lot, noting that Daniels had not told the girl’s father about it.

More generally, the defense team argues that Daniels has financial and personal reasons to lie about Trump. Cohen paid Daniels “in exchange for her agreeing to not publicly spread false claims about President Trump,” Trump’s lead defense attorney, Todd Blanche, said in his opening statement. “When Ms. Daniels threatened to go public with her false claim of a sexual encounter with President Trump,” Blanche told the jury, “it was almost an attempt…to extort President Trump….It was sinister, and it was an attempt to try to embarrass President Trump, to embarrass his family….President Trump fought back, like he always does and like he’s entitled to do, to protect his family, his reputation, and his brand. And that is not a crime.”

None of this means that Daniels fabricated her account of a sexual encounter with Trump, which is completely consistent with his character and history. And strictly speaking, it does not matter whether Daniels is telling the truth about what she and Trump did in 2006, or even whether her story would been “devastating to his campaign,” which is doubtful for the same reasons: Voters knew about his adultery and his disregard for sexual consent, and they elected him anyway. They may very well do so again, even after a jury found him civilly liable for sexual assault. But under the prosecution’s theory, all that matters is that Trump was worried that Daniels’ story might hurt his chances; that he arranged the payoff for that reason, recognizing that he was thereby violating federal campaign finance rules; and that he tried to hide that crime with phony business records.

Daniels’ “credibility issues” nevertheless are apt to affect the weight that jurors give her testimony. Likewise with Pecker, who testified that he agreed to pay off two other people with potentially damaging stories about Trumpformer Trump Tower doorman Dino Sajudin and former Playboy Playmate Karen McDougalas part of an arrangement that included notifying Cohen about such threats, running positive stories about Trump in the National Enquirer, and running negative stories about his opponents. Pecker said he had similar, mutually beneficial arrangements with other celebrities, including politicians, and that he sometimes used dirt about them as leverage to obtain access and information.

In addition to those unsavory details about Pecker’s style of journalism, jurors heard that he and his company avoided federal prosecution by agreeing that the McDougal payoff qualified as an unlawful corporate campaign contribution. The legal pressure that resulted in Pecker’s cooperation casts doubt on that characterization and on his testimony that Trump was mainly worriedabout the election when he arranged the nondisclosure agreements with Sajudin, McDougal, and Daniels.

Cohen, the source of crucial links between the Daniels payment and the charges that Trump faces, has yet to testify. But Trump’s lawyers argue that he is a vindictive former loyalist who “cannot be trusted.”

Cohen “cheated on his taxes, he lied to banks, [and] he lied about side businesses he had with taxi medallions, among other things,” Blanche told the jury. He was “disbarred as an attorney, he’s a convicted felon, and he also is a convicted perjurer.” According to Blanche, Cohen had a grudge against Trump, because he “wanted a job in the administration” and “didn’t get one.” He therefore decided to “blame President Trump for virtually all of his problems.” Cohen is “obsessed with Trump,” Blanche said. He “rants and raves” about his former boss on podcasts and social media and “has talked extensively about his desire to see President Trump go to prison.”

Even Pecker, who had a relationship with Cohen that long predated the 2016 election, portrayed him as difficult, badgering, hotheaded, and extremely unpleasant. While all that may be legally irrelevant, Pecker’s testimony also suggested that Cohen was dishonest and unreliable, repeatedly promising to reimburse Pecker for the Sajudin and McDougal payments, which he never did.

This is the guy that prosecutors will be presenting as their star witness. Blanche claimed that “Mr. Cohen has misrepresented key conversations where the only witness who was present for the conversation was Mr. Cohen and, allegedly, President Trump.” Whether or not that’s true, establishing reasonable doubt about the veracity of Cohen’s account should not be difficult.

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CNBC Daily Open: The weight of Nvidia’s crown

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CNBC Daily Open: The weight of Nvidia's crown

Jensen Huang is interviewed by media during a reception for the 2025 Queen Elizabeth Prize for Engineering, at St James’ Palace November 5, 2025 in London, England, U.K.

Yui Mok | Getty Images Entertainment | Getty Images

Uneasy lies the head that wears the crown.

Shares of artificial intelligence czar Nvidia fell 2.6% on Tuesday as signs of unrest continued rippling through its kingdom.

Over the month, Nvidia has been contending with concerns over lofty valuations and an argument from the “The Big Short” investor Michael Burry that companies may be overestimating the lifespan of Nvidia’s chips. That accounting choice inflates profits, he alleged.

The pressure intensified last week in the form of a potential challenger to the crown. Google on Nov. 18 announced the release of its new AI model Gemini 3 — so far so good, given that Nvidia isn’t in the business of designing large language models  — powered by its in-house AI chips — uhoh.

And on Monday stateside, Meta, a potential kingmaker, appeared to signal that it is considering not just leasing Google’s custom AI chips, but also using them for its own data centers. It seemed like Nvidia felt the need to address some of those rumblings.

The chipmaker said on the social media platform X that its technology is more powerful and versatile than other types of AI chips, including the so-called ASIC chips, such as Google’s TPUs. Separately, Nvidia issued a private memo to Wall Street that disputed Burry’s allegations.

Power, whether in politics or semiconductors, requires a delicate balance.

Remaining silent may shroud those in power in a cloak of untouchability, projecting confidence in their authority — but also aloofness. Deigning to address unrest can soothe uncertainty, but also, paradoxically, signal insecurity.

For now, the crown is Nvidia’s to wear — and the weight of it is, too.

What you need to know today

The UK Autumn Budget 2025 is here. Britain prepares for a “smorgasbord” of tax hikes to be unveiled Wednesday. Follow CNBC’s coverage of the Budget throughout the day on our live blog here

U.S. stocks advanced on Tuesday. Major indexes had their third straight winning session, erasing earlier intraday losses. Asia-Pacific markets rose Wednesday. Shares of Foxconn climbed more than 3% after the firm received approval for a contract amendment.

Meta is looking to use Google AI chips. That’s according to a Monday report by The Information. Nvidia on Tuesday wrote on X that its chips are “a generation ahead of the industry.” The chipmaker also sent analysts a memo on alleged bubble claims.

Taiwan President pledges $40 billion more for defense. Lai Ching-te, Taiwan’s leader, on Wednesday said the self-governing island will improve its self-defense capabilities in the face of “unprecedented military buildup” by China.

[PRO] What to watch as UK budget is unveiled. Strategists told CNBC they will be monitoring the budget’s effects on interest rates, economic growth and the British pound — and one “rabbit out of the hat” from U.K. Finance Minister Rachel Reeves.

And finally…

Lights on in skyscrapers and commercial buildings on the skyline of the City of London, UK, on Tuesday, Nov. 18, 2025. U.K. business chiefs urged Chancellor of the Exchequer Rachel Reeves to ease energy costs and avoid raising the tax burden on corporate Britain as she prepares this year’s budget.

Bloomberg | Bloomberg | Getty Images

The UK’s Autumn Budget is coming: Here’s what it could mean for your money

The run-up to this year’s U.K. Autumn Budget has been different from the norm because so many different tax proposals have been floated, flagged, leaked and retracted in the weeks and months leading up to Wednesday’s statement.

It has also made it harder to gauge what we’re actually going to get when Finance Minister Rachel Reeves finally unveils her spending and taxation plans for the year ahead.

— Holly Ellyatt

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Uber rolls out driverless robotaxis in Abu Dhabi

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Uber rolls out driverless robotaxis in Abu Dhabi

Driverless WeRide robotaxis for Uber.

Courtesy: Uber

Uber on Wednesday rolled out fully driverless rides in its fourth market, launching the service in Abu Dhabi in partnership WeRide, a Chinese autonomous vehicle company.

The ride-hailing company said the launch in the United Arab Emirates capital represents the first driverless robotaxi service in the Middle East. In the U.S., Uber already offers robotaxi services in Austin, Phoenix and Atlanta through Alphabet’s Waymo.

Riders in Abu Dhabi can book a WeRide robotaxi when requesting an UberX or Uber Comfort ride, the ride-hailing company said.

WeRide, which is listed on the Nasdaq, formed its partnership with Uber in September 2024 and began offering autonomous rides with an operator on board in Abu Dhabi last December. Uber and WeRide also debuted robotaxi rides with a safety operator on board in Riyadh, Saudia Arabia, in October. In May, Uber said it plans to roll out the WeRide service to 15 more cities, including in Europe, over the next five years.

In recent years, Uber has bet big on autonomous vehicle technology through partnerships.

Uber started offering a robotaxi service in Austin and Atlanta earlier this year, and in Phoenix in late 2023. In July, the company landed a six-year robotaxi deal with electric vehicle maker Lucid and AV startup Nuro.

WeRide, meanwhile, has launched full driverless robotaxi services in China’s Beijing and Guangzhou, according to its website.

Uber has not said how it splits revenue from robotaxi rides with its partners.

Competitors have also readily adopted the technology, with Lyft announcing a deal with Waymo in September to launch robotaxis in Nashville next year.

Uber said the driverless vehicles in Abu Dhabi will operate in certain areas of Yas Island. Riders can boost their chance of a robotaxi drive by selecting the autonomous option. On-board support is available during the ride through the app and an in-vehicle tablet.

WATCH: WeRide CEO: We are using both Tesla and Waymo’s approach to scale robotaxi operations

WeRide CEO: We are using Tesla and Waymo's approach to scale robotaxi operations

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Uber launches true driverless robotaxi operations in the Middle East with WeRide [Video]

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Uber launches true driverless robotaxi operations in the Middle East with WeRide [Video]

Just over a year after Uber announced a strategic partnership in the Middle East with autonomous vehicle specialist WeRide, the companies have officially begun offering the public robotaxi rides without a driver or safety operator present on board.

Today’s latest milestone involving robotaxi operations in the Middle East dates back to September 2024, when Uber and WeRide initially announced a strategic partnership to bring autonomous rides to the UAE.

Three months later, the partner officially launched autonomous rides in Abu Dhabi, but with a safety operator present in the vehicle. At the time, Uber and WeRide said the supervised rides were “laying the groundwork” for a true driverless commercial operations planned for 2025.

That day has come.

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WeRide and Uber have confirmed that commercial robotaxi operations are officially underway in Abu Dhabi without any safety operators on board – a first for the Middle East.

Uber Middle East
Source: Uber

Uber rolls out Middle East robotaxi operations in Abu Dhabi

Uber shared details of its latest milestone late this evening or in the afternoon in the Middle East, depending on where you are.

Beginning today (Wednesday) customers in Abu Dhabi can select an UberX or Uber Comfort ride that enables them to be matched with a fully autonomous WeRide robotaxi without a driver inside. Riders in the Middle East can also increase their chances of hailing one of these driverless rides by select the “Autonomous” option in the Uber app.

In order to qualify, the prosepctive rider’s route must be part of WeRide’s operating territory in Abu Dhabi and a dedicated WeRide GXR Robotaxi vehicle (seen in the featured image above) must be available.

Similar to Uber’s partnership with Waymo in Austin and Atlanta, the global rideshare network will oversee fleet operations for WeRide vehicles, handling end-to end rider support. It has tapped Tawasul Transport to facilitate vehicle cleaning, maintenance, inspections, charging, and depot management. WeRide will remain responsible for vehicle testing.

As you may recall last spring, Uber and WeRide announced an expansion to their strategic partnership beyond the Middle East (although Dubai will be the city for its next robotaxi rollout). Over the next five years, Uber and WeRide intend to deploy true driverless public rides in 15 additional cities, some of which will be in Europe.

As promised, here’s some b-roll footage from Uber showing how riders in Abu Dhabi can order a WeRide robotaxi:

Source: Uber

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