Here's your Forbes Daily Briefing for Wednesday, May 7th. Today on Forbes, Trump Organization admits

President still controls his business in new filing. Donald Trump, who has long tried to suggest

he has little to do with the operations of his business empire, retains power over the trust that holds his assets,

according to a filing his business submitted to British regulators last month.

The document, titled, quote, notice of individual person with significant control,

identifies Donald John Trump, born in June 1946, as someone with influence over Gulf Recreation

Scotland Limited, the entity through which the president holds Trump Turnberry, a

golf resort that hosted four British opens before Trump purchased it in 2014.

A more detailed section of the filing, labeled, quote, nature of control,

specifies that, quote, the person has the right to exercise or actually exercises

significant influence or control over the activities of a trust.

The Donald J. Trump Revocable Trust holds Gulf Recreation Scotland Limited

and, via a web of additional entities, virtually every

other asset in Donald Trump's empire.

By stating that Trump has control over the trust, his business appears to admit that

Trump maintains a grip on his entire empire.

The nature of control section goes on to describe the role of the trust's designated trustee

or trustees during Trump's first term, his son Don Jr. and executive Alan Weisselberg,

with Eric Trump serving as chairman of the advisory board of the trust. The document says,

quote, the trustees of that trust in their capacity as such have the right to exercise or

actually exercise significant influence or control over the company. Or, in plain English, Trump

delegated authority while retaining ultimate power. Back in early 2017, after Trump promised he would not talk about his business with his

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