Kraken to allow trading in Apple, Tesla and Nvidia shares as digital tokens, WSJ reports
May 22 (Reuters) - Crypto exchange Kraken will allow non-U.S. customers to trade shares of Apple (AAPL.O), opens new tab, Tesla (TSLA.O), opens new tab, Nvidia (NVDA.O), opens new tab and some other high-profile companies in the form of tokens, the Wall Street Journal reported on Thursday.
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The Guardian
32 minutes ago
- The Guardian
Newsom is warned of ‘criminal tax evasion' if he withholds federal taxes
The US treasury secretary, Scott Bessent, has warned California governor Gavin Newsom that he would be guilty of 'criminal tax evasion' if he withholds his state's tax payments to the federal government amid threats of a funding cut by Donald Trump. Newsom had threatened to cut tax payments to the federal government two days ago after reports that Trump was preparing huge federal funding cuts targeting Democrat-dominated California, including its state university system. 'Gavin Newsom is threatening to commit criminal tax evasion,' Bessent said in a post on X. 'His plan: defraud the American taxpayer and leave California residents on the hook for unpaid federal taxes.' Bessent continued: 'I am certain most California businesses know that failing to pay taxes owed to the Treasury constitutes tax evasion and have no intention of following the dangerous path Governor Gavin Newsom is threatening.' He described Newsom's comments as 'extremely reckless' and advised the governor to come up with a tax-cutting plan for California that mirrored Trump's federal tax cutting plan, 'instead of committing criminal tax evasion'. The treasury secretary's comments came after Newsom posted on Friday that 'Californians pay the bills for the federal government. We pay over $80 BILLION more in taxes than we get back. Maybe it's time to cut that off, Donald Trump.' The California governor linked to a CNN report that the Trump administration is preparing to cancel some federal funding for California and federal agencies had been directed to identify grants that could be withheld, including the University of California and California state university systems. In a statement on Friday, the White House spokesperson Kush Desai criticized California's energy, immigration and other positions as 'lunatic anti-energy, soft-on-crime, pro-child mutilation, and pro-sanctuary policies'. 'No taxpayer should be forced to fund the demise of our country,' Desai said, but he added that 'No final decisions, however, on any potential future action by the Administration have been made, and any discussion suggesting otherwise should be considered pure speculation.' Newsom and Trump are accustomed to a war of words, including threats to withhold funding. The administration recently cut $126m in flood prevention funding projects, and Trump has threatened 'large-scale fines' on the state after transgender athlete AB Hernandez competed in the long jump, high jump and triple jump events at the California Interscholastic Federation track and field championships. But the reported threat to cut off federal funding to California's university system appears to have pushed California officials into threats of retaliation. Soon before Newsom made his threat, California assembly speaker Robert Rivas described the rumored grant cancellations as 'unconstitutional and vindictive.' 'We're the nation's economic engine and the largest donor state, and deserve our fair share,' Rivas wrote. 'I'll use every legal and constitutional tool available to defend CA – we must look at every option, including withholding federal taxes.'
The Guardian
2 hours ago
- The Guardian
Players union condemns MLS's $1m Club World Cup prize money offer
Major League Soccer has submitted a new proposal to its players concerning how bonuses for the Club World Cup will be paid out to the players on clubs participating in the tournament, according to a source familiar with negotiations between the parties who spoke to the Guardian and other outlets on the condition of anonymity to protect their relationships within the game. The MLS Players' Association, the union representing MLS players, later confirmed they had received a proposal. According to the source, the league's offer would see players earn 20% of a team's performance-based prize money at each stage of the tournament with no agreed-upon cap on maximum payout. This means each group of MLS players competing in the tournament would collectively receive $200,000 for a group stage win (from a total prize of $1m), $400,000 for a group stage win (from a total prize of $2m per team, per win), $1.5m for making the Round of 16 (from a total prize of $7.5m) and so on. The players' current bonus structure, outlined in the MLSPA's collective bargaining agreement (CBA) with the league, allows MLS players to receive half of any prize or participation money awarded to a team participating in an outside tournament, but with a hard cap of $1m. With the Club World Cup's $9.5m participation prize given to MLS teams, players had already maxed out their maximum payout and would have not been entitled to any more money for progress in the tournament. Under the proposed terms, in the unlikely event an MLS team wins the Club World Cup, players on that team would be entitled to split a prize pool that would total up to $23.9m. In their own statement, the MLSPA confirmed that the proposal had been delivered but said that the 20% payout is 'below the international standard,' and also said that the league has attempted to 'strong-arm' the players into CBA waivers that do not regard the Club World Cup. The prize money structure was the subject of protest by the Seattle Sounders last weekend, with the squad wearing T-shirts in the warmup reading 'Club World Cup Cash Grab.' The MLSPA later said in a statement that the league had 'failed to bring forward a reasonable proposal.' The source said that MLS had originally planned to propose the 20% arrangement on the following Monday, but then elected to delay delivering the proposal until Friday. Sign up to Soccer with Jonathan Wilson Jonathan Wilson brings expert analysis on the biggest stories from European soccer after newsletter promotion The Club World Cup kicks off on 16 June in cities across the United States. The Seattle Sounders, Inter Miami and Los Angeles FC are the three MLS clubs participating in the tournament.
STV News
2 hours ago
- STV News
Trump says Elon Musk could face ‘serious consequences' if he backs Democrats
US President Donald Trump said he has no desire to repair his relationship with Elon Musk, and warned that his former ally and campaign benefactor could face 'serious consequences' if he tries to help Democrats in upcoming elections. Trump told NBC's Kristen Welker in a phone interview that he has no plans to make up with tech entrepreneur Mr Musk. Asked specifically if he thought his relationship with the mega-billionaire chief executive of Tesla and SpaceX was over, Mr Trump responded: 'I would assume so, yeah.' 'I'm too busy doing other things,' Trump continued. Alarming — Elon Musk (@elonmusk) June 7, 2025 'You know, I won an election in a landslide. I gave him (Mr Musk) a lot of breaks, long before this happened, I gave him breaks in my first administration, and saved his life in my first administration, I have no intention of speaking to him.' The US President also issued a warning amid speculation that Musk could back Democratic legislators and candidates in the 2026 mid-term elections. 'If he does, he'll have to pay the consequences for that,' Trump told NBC, though he declined to share what those consequences would be. Mr Musk's businesses have many lucrative federal contracts. The US President's latest comments suggest Musk is moving from close ally to a potential new target for Trump, who has aggressively wielded the powers of his office to crack down on critics and punish perceived enemies. As a major government contractor, Mr Musk's businesses could be particularly vulnerable to retribution. Trump has already threatened to cut Mr Musk's contracts, calling it an easy way to save money. The dramatic rupture between the President and the world's richest man began this week with Musk's public criticism of Trump's 'big beautiful bill' pending on Capitol Hill. Musk has warned that the bill will increase the federal deficit and called it a 'disgusting abomination'. Trump criticised Musk in the Oval Office, and before long, he and Musk began trading bitterly personal attacks on social media, sending the White House and Republican congressional leaders scrambling to assess the fallout. As the back-and-forth intensified, Musk suggested Trump should be impeached and claimed without evidence that the government was concealing information about the President's association with infamous paedophile Jeffrey Epstein. PA Media Mr Trump's spending plans appeared to cause the rift initially (AP). Musk appeared by Saturday morning to have deleted his posts about Epstein. In an interview, US vice president JD Vance tried to downplay the feud. He said Mr Musk was making a 'huge mistake' going after Mr Trump, but called him an 'emotional guy' who was becoming frustrated. 'I hope that eventually Elon comes back into the fold. Maybe that's not possible now because he's gone so nuclear,' Vance said. Vance called Musk an 'incredible entrepreneur,' and said that Musk's Department of Government Efficiency (DOGE), which sought to cut US government spending and laid off or pushed out thousands of workers, was 'really good'. Vance made the comments in an interview with 'manosphere' comedian Theo Von, who last month joked about snorting drugs off a mixed-race baby and the sexuality of men in the US Navy when he opened for Trump at a military base in Qatar. The Vance interview was taped on Thursday as Musk's posts were unfurling on X, the social media network the billionaire owns. During the interview, Von showed the vice president Musk's claim that Trump's administration has not released all the records related to Epstein because Trump is mentioned in them. Vice President Vance on what it's like to be Trump's VP: 'It is my job, obviously, to provide the President honest counsel…he talks to everybody. I think it's why he's in touch with normal people.' — Vice President JD Vance (@VP) June 7, 2025 Vance responded to that, saying: 'Absolutely not. Donald Trump didn't do anything wrong with Jeffrey Epstein.' 'This stuff is just not helpful,' Vance said in response to another post shared by Musk calling for Trump to be impeached and replaced with Vance. 'It's totally insane. The President is doing a good job.' Vance also defended the bill that has drawn Musk's ire, and said its central goal was not to cut spending but to extend the 2017 tax cuts approved in Trump's first term. The bill would slash spending and taxes but also leave some 10.9 million more people without health insurance and spike deficits by 2.4 trillion dollars (£1.77trn) over the decade, according to the nonpartisan Congressional Budget Office. 'It's a good bill,' Vance said. 'It's not a perfect bill.' Get all the latest news from around the country Follow STV News Scan the QR code on your mobile device for all the latest news from around the country
