Latest news with #Wetherell
Yahoo
23-05-2025
- Business
- Yahoo
Judge says Trump has power to impose tariffs, but punts lawsuit to different court
Donald Trump's sweeping tariffs may be able to survive a legal challenge, thanks in part to a Japanese zipper company that sued the Nixon administration 50 years ago. Earlier this week, a federal judge in Florida nominated by Donald Trump suggested the president has the authority to unilaterally impose tariffs -- basing his ruling on the precedent from a 1970s court case -- but stopped short of issuing an order affirming the president's right to impose sweeping tariffs. In a largely technical ruling issued on Tuesday, U.S. Judge T. Kent Wetherell II transferred one of the first lawsuits challenging Trump's tariffs to a different federal court while also weighing in on the legality of the controversial tariffs. Florida-based planner company Emily Ley Paper sued over the tariffs in April, asking Wetherell to invalidate them because Trump lacks the power to impose tariffs himself. MORE: Target CEO says tariffs risk 'massive' costs, but price hikes a 'last resort' According to the judge, the International Emergency Economic Powers Act of 1977 gives Trump the authority to set tariffs for reasons other than raising revenue. Wetherell wrote that Trump's justification for the tariffs -- both stemming the flow of illicit drugs into the country and resolving a trade imbalance -- is sufficient to satisfy the terms set by Congress. "This is a civil action commenced against the United States and it 'arises out of' a federal law—IEEPA—so the dispositive question framed by the parties' filings is whether IEEPA 'provid[es] for … tariffs,'" he wrote. "Defendants contend that it does; Plaintiffs contend that it doesn't. The Court agrees with Defendants ..." The decision is at best a symbolic victory for the Trump administration, which is fending off a half dozen lawsuits challenging the legality of the recent "Liberation Day" tariffs. Judge Wetherell ultimately decided to transfer the case from a federal court in Florida to the Court of International Trade in New York, meaning that, despite his favorable view of the tariffs, he won't be the one deciding the case. MORE: Lawyer calls Trump tariffs 'unlawful' as they face 1st test against small businesses But the decision marks the first time a federal judge has suggested Trump's imposition of tariffs falls within his authority as president, offering a positive sign that the Trump administration may find a receptive audience at the Court of International Trade. During two hearings over the last week, judges at the Court of International Trade have wrestled with the same question about Trump's authority. The question comes down to the interpretation of the 1970s law that Trump used to impose his tariffs. The IEEPA gives the president the right to "regulate" imports but does not explicitly mention tariffs. Lawyers challenging the tariffs have argued that Trump's interpretation of the law oversteps his authority by treading into an issue controlled by Congress, but the Trump administration has pointed judges to a court decision related to the IEEPA's legal predecessor -- the Trading with the Enemy Act of 1917 -- to guide the way. Back when President Richard Nixon confronted the country's 1971 economic crisis with steep tariffs on Japanese goods, a zipper company based in Japan called Yoshida sued Nixon over the tariffs. MORE: Consumer sentiment worsens despite Trump's rollback of tariffs, survey says The Court of Customs and Patent Appeals, the predecessor to the Court of International Trade, sided with the government and held that the TWAE gives the president the power to impose tariffs. According to Wetherell, the same reasoning would apply 50 years later to the IEEPA, meaning Trump has the power to impose tariffs without the help of Congress. "The reasoning in Yoshida is persuasive, and the Court sees no reason why it would not apply to IEEPA because the operative language of IEEPA is identical to the operative language in TWEA," the judge wrote. Despite losing its legal battle, Yoshida remains in business today. Now operating under the name YKK, it produces more zippers than any other company in the world. Judge says Trump has power to impose tariffs, but punts lawsuit to different court originally appeared on
23-05-2025
- Business
Judge says Trump has power to impose tariffs, but punts lawsuit to different court
Donald Trump's sweeping tariffs may be able to survive a legal challenge, thanks in part to a Japanese zipper company that sued the Nixon administration 50 years ago. Earlier this week, a federal judge in Florida nominated by Donald Trump suggested the president has the authority to unilaterally impose tariffs -- basing his ruling on the precedent from a 1970s court case -- but stopped short of issuing an order affirming the president's right to impose sweeping tariffs. In a largely technical ruling issued on Tuesday, U.S. Judge T. Kent Wetherell II transferred one of the first lawsuits challenging Trump's tariffs to a different federal court while also weighing in on the legality of the controversial tariffs. Florida-based planner company Emily Ley Paper sued over the tariffs in April, asking Wetherell to invalidate them because Trump lacks the power to impose tariffs himself. According to the judge, the International Emergency Economic Powers Act of 1977 gives Trump the authority to set tariffs for reasons other than raising revenue. Wetherell wrote that Trump's justification for the tariffs -- both stemming the flow of illicit drugs into the country and resolving a trade imbalance -- is sufficient to satisfy the terms set by Congress. "This is a civil action commenced against the United States and it 'arises out of' a federal law—IEEPA—so the dispositive question framed by the parties' filings is whether IEEPA 'provid[es] for … tariffs,'" he wrote. "Defendants contend that it does; Plaintiffs contend that it doesn't. The Court agrees with Defendants ..." The decision is at best a symbolic victory for the Trump administration, which is fending off a half dozen lawsuits challenging the legality of the recent "Liberation Day" tariffs. Judge Wetherell ultimately decided to transfer the case from a federal court in Florida to the Court of International Trade in New York, meaning that, despite his favorable view of the tariffs, he won't be the one deciding the case. But the decision marks the first time a federal judge has suggested Trump's imposition of tariffs falls within his authority as president, offering a positive sign that the Trump administration may find a receptive audience at the Court of International Trade. During two hearings over the last week, judges at the Court of International Trade have wrestled with the same question about Trump's authority. The question comes down to the interpretation of the 1970s law that Trump used to impose his tariffs. The IEEPA gives the president the right to "regulate" imports but does not explicitly mention tariffs. Lawyers challenging the tariffs have argued that Trump's interpretation of the law oversteps his authority by treading into an issue controlled by Congress, but the Trump administration has pointed judges to a court decision related to the IEEPA's legal predecessor -- the Trading with the Enemy Act of 1917 -- to guide the way. Back when President Richard Nixon confronted the country's 1971 economic crisis with steep tariffs on Japanese goods, a zipper company based in Japan called Yoshida sued Nixon over the tariffs. The Court of Customs and Patent Appeals, the predecessor to the Court of International Trade, sided with the government and held that the TWAE gives the president the power to impose tariffs. According to Wetherell, the same reasoning would apply 50 years later to the IEEPA, meaning Trump has the power to impose tariffs without the help of Congress. "The reasoning in Yoshida is persuasive, and the Court sees no reason why it would not apply to IEEPA because the operative language of IEEPA is identical to the operative language in TWEA," the judge wrote. Despite losing its legal battle, Yoshida remains in business today. Now operating under the name YKK, it produces more zippers than any other company in the world.
New York Post
01-05-2025
- Business
- New York Post
Winston Churchill's London bachelor pad — where he lived after leaving his mother's house — asks $5M
Winston Churchill's former London bachelor pad is on sale for the first time in 10 years — asking $5 million. Many years earlier, Churchill spent five productive years in the second-floor apartment, located in the desirable Mayfair area of London. There, a young Churchill would pursue a string of unsuccessful affairs, meet his future wife Clementine and became a member of Parliament during his 1900 to 1905 tenure. 8 Winston Churchill, pictured in 1941. Getty Images 8 The entrance to the terracotta mansion. Wetherell The two-bedroom home, located on Mount Street, is available for sale through Wetherell and Clifton Property Partners. The unit spans 1,087 square feet on the second floor of a grand, pinkish terracotta building. The Early Renaissance-style mansion was designed in 1888 by architect Sir Ernest George. The current owners of the flat could not be determined, but the property made headlines in 2019 when it was put up for rent, the Daily Mail reported at the time. The apartment is aptly situated above a cigar shop. Before he was the prime minister who led Great Britain through the terror of the Blitz, Churchill lived at his mother's house. After making a name for himself as a soldier and war correspondent, Churchill moved out and into the Mount Street flat. He was 25 years old, according to the agencies, when he leased the two-bedroom from his wealthy cousin. 8 Sautter Cigars, situated below the apartment, sells some of Churchill's favorite brands. Wetherell Churchill moved into the flat in 1900, the same year he published 'Ian Hamilton's March,' a book about his experiences in the Second Boer War. His first year in the apartment also coincided with his narrow election to Parliament. The well-appointed home boasts nine double-height windows overlooking Mount Street and a bright reception room. The large principal suite has a bay window, built-in mirrored wardrobes and an ensuite shower. The separate kitchen off the entrance hall features white cupboards, white stone worktops and flooring. Churchill reportedly used the apartment's second bedroom as a breakfast and dining room. 8 The living room features large windows and a fireplace. Wetherell 8 The whitewashed kitchen. Wetherell 8 The primary suite, formerly belonging to a 25-year-old Churchill. Wetherell 8 A secondary bedroom. Wetherell 8 Both bedrooms include mirrored built-ins. Wetherell 'Homes lived in by Sir Winston Churchill always generate significant interest and we anticipate this elegant apartment in the heart of Mayfair will attract many discerning potential buyers from around the world,' said Peter Wetherell, the founder and executive chairman of Wetherell, said in a statement. In the home Churchill entertained politicians and pursued unlucky love affairs — including a 1903 flirtation with American actress Ethel Barrymore. He met his future wife, Clementine Hozier, at a ball in 1904. The 1905 publication of a two-volume biography of his father, Lord Randolph Churchill, allowed the 30-year-old Churchill to move out of his Mount Street apartment and purchase his own home, according to the agencies, on nearby Bolton Street.
Daily Mail
01-05-2025
- Business
- Daily Mail
Winston Churchill's first bachelor pad up for sale for £3.75m
Former Prime Minister Winston Churchill's Mayfair bachelor pad in London could be yours for £3.75million. The two-bedroom second floor flat spans 1,087 sq. ft. and is being listed for the first time in a decade. 105 Mount Street became Churchill's pied-à-terre in August 1900, when at the age of 25, leased the property from his cousin, Charles 'Sunny' Spencer-Churchill. Situated on the doorstep of the five-star Connaught Hotel, the Mayfair flat is located in a grand mansion block designed in 1888 by architect Sir Ernest George in an early renaissance style. The Connaught Hotel, previously called The Coburg, would deliver meals to nearby Mayfair residents, including to 105 Mount Street. According to joint sole selling agents Wetherell and Clifton Property Partners, the hotel's ultra-posh takeaway service sparked Churchill's love of Pol Roger champagne, Hine rare cognac, oysters, steak and kidney pie and roast beef and Yorkshire pudding. The ground floor of the building is home to the famous Sautter cigar shop, which displays some of Churchill's favourite cigar brands and other memorabilia. Churchill lived at 105 Mount Street from 1900 to 1905, before moving to Bolton Street in London. The Mayfair flat provided a base for Churchill when, after making his name as a soldier and war correspondent, he launched his political career, being elected to the Houses of Parliament as the Conservative candidate for Oldham in October 1900. Churchill went on to become British Prime Minister in 1940 during the Second World War and he served as an MP for more than 60 years until 1964. Speaking to This is Money, Peter Wetherell, founder and executive chairman of Wetherell, said: 'When Winston lived at the Mount Street apartment he had just entered Parliament as an MP and it was whilst living there that he first met Clementine, who would later become his wife Clementine Churchill. 'Whilst living at the apartment Churchill wrote some of his first famous speeches and books. 'In 1905 Churchill published a two volume biography of his father Lord Randolph Churchill and the proceeds enabled Winston to buy a house in Mayfair. 'When Winston lived at the apartment he used the second bedroom as a dining room and employed a cook whose domain was the adjoining kitchen.' The ninth Duke of Marlborough sold the flat in the 1940s and it is now being listed for sale for the first time in 10 years, having been renovated throughout. The flat has a spacious reception room which provides a large living area and a dining area in a spacious bay window within the room. There is also a high-end main bedroom suite with an ensuite bathroom and a second bedroom and fully fitted kitchen. Mr Wetherell said: 'The apartment provides an ideal London base for a family wanting a home in the heart of the capital. 'With its links to Sir Winston Churchill the globally famous prime minister we anticipate interest in the apartment from buyers from around the world. It's an opportunity to buy a slice of British history.' Hugo Miller, an associate at Clifton Property Partners, said: 'Mount Street and its surrounding streets and gardens make up the most exclusive urban village in London where international luxury brands sit alongside heritage craftspeople and Michelin star dining. 'The fashion boutiques of Bond Street are just a short walk away across Berkeley Square and the green expanses of Hyde Park and Green Park are also within close walking distance.' How to find a new mortgage Borrowers who need a mortgage because their current fixed rate deal is ending, or they are buying a home, should explore their options as soon as possible. Quick mortgage finder links with This is Money's partner L&C > Mortgage rates calculator > Find the right mortgage for you What if I need to remortgage? Borrowers should compare rates, speak to a mortgage broker and be prepared to act. Homeowners can lock in to a new deal six to nine months in advance, often with no obligation to take it. Most mortgage deals allow fees to be added to the loan and only be charged when it is taken out. This means borrowers can secure a rate without paying expensive arrangement fees. Keep in mind that by doing this and not clearing the fee on completion, interest will be paid on the fee amount over the entire term of the loan, so this may not be the best option for everyone. What if I am buying a home? Those with home purchases agreed should also aim to secure rates as soon as possible, so they know exactly what their monthly payments will be. Buyers should avoid overstretching and be aware that house prices may fall, as higher mortgage rates limit people's borrowing ability and buying power. How to compare mortgage costs The best way to compare mortgage costs and find the right deal for you is to speak to a broker. This is Money has a long-standing partnership with fee-free broker L&C, to provide you with fee-free expert mortgage advice. Interested in seeing today's best mortgage rates? Use This is Money and L&Cs best mortgage rates calculator to show deals matching your home value, mortgage size, term and fixed rate needs. If you're ready to find your next mortgage, why not use L&C's online Mortgage Finder. It will search 1,000's of deals from more than 90 different lenders to discover the best deal for you. > Find your best mortgage deal with This is Money and L&C Be aware that rates can change quickly, however, and so if you need a mortgage or want to compare rates, speak to L&C as soon as possible, so they can help you find the right mortgage for you.
The National
31-01-2025
- General
- The National
Moby-Dick author's London home on the market for £9m
A blue plaque house where Herman Melville researched and wrote the first drafts of his novel Moby-Dick is on the market for £9 million. The five-bedroom, 4,371-square-foot Georgian townhouse near The Strand and the River Thames in central London is located on Craven Street, which was once home to a whaling ship wharf which dealt with the distribution of whale oil, blubber and other products. It is one of several features that inspired details of the mid-19th century novel, which was based on real-life events and tells the story of Captain Ahab's obsessive search to kill a whale that bit his leg off on a previous voyage. The blue plaque initiative, which is run by the English Heritage charity, celebrates the links between notable figures of the past and the buildings in which they lived and worked. The plaque to Melville at 25 Craven Street says he lived there in 1849. The original owner of the townhouse, John Lucie Blackman, a sugar plantation and cargo ship owner, rented rooms to sailors, travellers and people working in local theatres and restaurants. Melville rented a room on one of the property's upper floors, offering views of the Thames, while he was in London looking for a publisher for the book that would become Moby-Dick. He would write notes for the novel while gazing out at the Thames, the nearby wharf and passing whaling ships. It is believed Melville partly based the character Captain Ahab on Capt Archibald Buchanan, a Royal Navy captain, who also lodged at 25 Craven Street while Melville was there. The author used to hear the captain walking on the timber decking of the terrace above him, using him for the inspiration for Captain Ahab pacing on the Pequod whaling ship as he scanned the ocean looking for Moby Dick, while the bow-shaped drawing room overlooking the River Thames provided the inspiration for his cabin. 'When you're in the house you have a feeling of belonging that you are part of old London,' Peter Wetherell, founder and executive chairman of Wetherell estate agents told The National. 'The Thames would come literally right up to the houses.' Melville also drew on his experiences working on a sailor on whaling ships, which is when he first heard the story of about Mocha Dick, an albino sperm whale that attacked ships in the Pacific during the early 1800s. The author returned to the US in 1849 to write the book based on the notes, research and drafts from his time in London. He finished it 18 months later, publishing it as The Whale in October 1851 and Moby-Dick in New York in November 1851. The current owner obtained full planning permission to extend and remodel the property to create a circa 5,500-square-foot luxury residence with multiple reception rooms, VIP bedroom suites, private cinema and a wine tasting room and display cellar. Selling agent Wetherell believes the property could be worth up to £16 million once refurbished. Plans include a passenger lift connecting all four floors, with an entrance hall, dining room and drawing room on the ground floor and a main reception room, library and a study on the first floor. The transformed basement would have a private cinema and a display cellar. 'The owner battled away to get planning permission to bring it in to the modern world,' said Mr Wetherell. 'It gives someone the opportunity to put their own mark on a house that's been improved and changed throughout its history.'
