Donald Trump must pay $821,000 legal bill over 'Steele dossier' lawsuit, UK court rules
Trump brought a data protection lawsuit against Orbis Business Intelligence over allegations in a dossier written by its co-founder, former British intelligence officer Christopher Steele, but Trump's claim was thrown out last year.
The so-called Steele dossier alleged ties between Trump's 2016 election campaign and Russia as well as other salacious accusations, all of which Trump strenously denied.
Trump had been ordered to make a payment of around 290,000 pounds towards Orbis' legal fees but failed to do so, Orbis' lawyers said at a previous hearing in January.
This meant Trump was barred from being represented at a further hearing this week to consider Orbis' total legal bill and whether its costs were reasonable.
Paul Arter, a costs lawyer for Orbis, said that Trump had very strong negotiating skills and was paying one of his own lawyers 750 pounds an hour.
Arter said the case was very important to both parties, with Orbis having concerns about its survival should it lose, while Trump was seeking to protect his reputation.
Faced with an opponent 'renowned as an aggressive litigator' who 'has a history of pursuing vendettas, certainly legally', it justified the rates Orbis were paying for their lawyers, Arter said.
Judge Jason Rowley ruled that Trump owed Orbis 530,615 pounds, less than the more than 680,000 pounds Orbis had sought, but more than the 452,000 Orbis offered to accept.
He also said Trump should pay another 95,000 pounds relating to the dispute over costs, making a total of just over 626,000 pounds.
($1 = 0.7621 pounds)
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CCTV Script 13/08/2025
The market has largely viewed the latest overnight release of the Consumer Price Index (CPI) inflation report in a positive light. The nominal CPI rose by 2.7% year-on-year, slightly below the expected 2.8%. The report also indicated stronger-than-expected inflation in service, while goods inflation came in lower than anticipated. These figures have reinforced market expectations for a rate cut and boosted the performance of U.S. stocks overnight. Specifically: All three major U.S. stock indices rose by more than 1% overnight, with the S&P 500 and the tech-heavy Nasdaq Composite both closing at record highs. According to CME FedWatch, the market's probability of a 25-basis-point rate cut by the Federal Reserve in September has increased from 85.86% the previous day to 94.93%. Although the market widely expects a rate cut in September, the focus among those supporting the move varies. Some are paying attention to inflation trends, while others are closely monitoring employment data. First, regarding the impact of Trump's tariff policies on inflation, expert opinions are divided. One camp argues that the effect of tariffs on U.S. inflation is actually quite limited. "Now you have six months of evidence, I don't really think tariffs cause inflation. Taxes don't cause inflation. And so what you're seeing in the data is very muted effects that are one time increases in the price level." It's worth noting that James Bullard is currently considered a top candidate for the next Federal Reserve Chair. In an interview with CNBC overnight, he also stated that he expects the Fed to cut rates by a total of 100 basis points over the next year. Meanwhile, another camp in the market warns that the impact of tariffs on inflation may gradually become more apparent in the future. Experts caution that, in addition to nominal CPI, it's crucial to monitor the trajectory of core CPI. "We are seeing a little bit of an uptick in the sequential core inflation and underlying inflation data. And I think a large part of that is the moderate impact we're seeing of tariff pass through that that is likely to grow in the months ahead." Additional analysis points out that while businesses may absorb costs in the short term, they will ultimately pass them on to consumers, particularly in industries with already narrow profit margins. "For instance, groceries, I mean, there's very little margin there. They're going to, you know, your tomato prices are going to go up because of because they can't really absorb, you know, those prices. It's just a matter of time that this, that the tariff related inflation starts to show up in the data." Finally, it's noteworthy that no consensus has yet been reached within the Federal Reserve regarding the pace of future rate cuts. Currently among Fed officials, Michelle Bowman and Christopher Waller represent the dovish camp advocating for . However, Jeffrey Schmid, President of the Kansas City Fed struck a hawkish tone overnight, arguing for . With moderate voices further complicating the divide, analysts suggest that even if the Fed initiates a cut in September, the pace may remain measured due to persistent internal disagreements.
