
Trump's Memecoin Can Now Be Used to Buy Watches and Sneakers
Several websites selling Trump-branded products have started to accept the Trump memecoin for payment, in an effort to win over more of the president's supporters.
GetTrumpWatches.com, GetTrumpFragrances.com and GetTrumpSneakers.com — all of which license the brand of President Donald Trump — are now letting customers checkout with $Trump, along with credit cards and Bitcoin.
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China Taps $1.5 Trillion Fund to Boost Home Market Support
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Still, some analysts are skeptical that measures to ease the financing needs of borrowers won't be enough to cement a housing recovery. The effort 'grants an alternative to bank mortgages but fails to address the shortage of demand that is the root cause of the sector's weakness,' Bloomberg Intelligence analysts Kristy Hung and Monica Si wrote in a note on Tuesday. Residential sales continued to fall in May. Distressed giant Country Garden Holdings Co.'s 28% slide in transactions last month underscored buyer concerns about the health of the firm and the broader sector. Past Challenges In the past, the provident fund was underutilized, partly because of many restrictions. When buying homes, China's middle class usually take out a combined mortgage — a bigger chunk from a bank with higher interest rates, and a smaller and cheaper loan from the provident fund. 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Cheaper Mortgages The central bank recently cut interest rates for mortgage loans given out by the housing provident fund, making it 0.9 percentage points cheaper than bank mortgages. While the rate cut reduces borrowing costs for a homebuyer by about 3%, the relief is 'rather marginal' and unlikely to cause a rally in home sales, said Liu Jieqi, a Hong Kong-based property analyst at UOB Kay Hian. 'It signals the government's efforts,' Liu said. 'But in the end, a broad property recovery hinges on effective implementation' of policies and a better economic outlook. The effort 'grants an alternative to bank mortgages but fails to address the shortage of demand that is the root cause of the sector's weakness,' Bloomberg Intelligence analysts Kristy Hung and Monica Si wrote in a Tuesday note. For now, the provident fund is helping to plug a gap as lenders cut back. Outstanding home loans by the fund grew 3.4% in 2024, while commercial bank loans dipped 1.3%. 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Donald Trump Reveals What's Next For That Tesla He Bought From Elon Musk
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Newsweek
34 minutes ago
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Donald Trump Reveals Plans For His Tesla After Elon Musk Feud
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. President Donald Trump said he is keeping his red Model S Tesla despite his recent feud with Elon Musk, but it might not stay at the White House, where the electric car has been parked since he bought it. Trump was asked by reporters about his plans for the Tesla vehicle and Musk's Starlink satellite internet service, which the White House uses, after the pair had a dramatic and public falling out. "I may move the Tesla around a little bit, but I don't think we'll be doing that with Starlink. It's a good service," Trump told reporters on Monday. Asked what he meant by moving the Tesla, Trump replied: "I have a lot of locations. I got so many locations that I don't know what to do with them all." Trump purchased the vehicle in March as a show of support for Musk and Tesla amid a backlash against the company. This is a developing article. Updates to follow.