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South China Morning Post
3 hours ago
- South China Morning Post
Trump's US$100 million bond purchases while in office spark conflict-of-interest concerns
President Donald Trump has bought hundreds of bonds since he returned to office, including those sold by US companies affected by the sweeping changes to federal policies he's championed. The 690 transactions, the first of which was made the day after his inauguration, total at least US$103.7 million, according to a document released by the White House on Tuesday that disclosed the billionaire's investing activity this year through early August. In addition to municipal bonds issued by local governments, school boards, airport authorities and gas districts, Trump bought corporate debt in tranches of at least US$500,000 each from Qualcomm, Home Depot and T-Mobile on February 10. He also bought at least US$250,000 of debt from Facebook owner Meta Platforms later that month. The report, which all federal elected officials and appointees who trade must submit, does not provide exact amounts or prices, since only broad ranges of transactions involving stocks, bonds, commodity futures and other securities are required. Trump reported no sales. The investments provide another example of how the president, whose net worth is pegged at US$6.4 billion by the Bloomberg Billionaires Index, continues to pursue wealth accumulation while in office. Unlike his predecessors, Trump did not divest or move his assets into a blind trust with an independent overseer. His sprawling business empire is managed by two of his sons and operates in several areas that intersect with presidential policy. His annual disclosure form filed in June showed his income from various sources still ultimately accrues to the president – something that has opened him to accusations of conflicts of interest.
The Standard
8 hours ago
- The Standard
ZhongAn Online profit balloons 11 times, ZA Bank turns profitable for the first time
A company logo of ZhongAn Insurance is displayed at a news conference in Hong Kong, China. REUTERS
South China Morning Post
9 hours ago
- South China Morning Post
Trump White House debuts TikTok account ahead of possible ban: ‘I am your voice'
The White House launched an official TikTok account on Tuesday, taking advantage of the short video app's more than 170 million US users to spread the messages of President Donald Trump Advertisement Trump has a soft spot for the popular app, crediting it with helping him gain support among young voters when he defeated Democrat Kamala Harris in the November 2024 presidential election The White House's official account comes as a new deadline approaches for its parent company ByteDance to divest from its US operations or face a nationwide blackout in the country. TikTok's algorithm, which decides which videos users see next, is a key point of contention. Critics warn that the Chinese government could use the algorithm to influence public opinion in the US, which TikTok and ByteDance have always denied. Trump has been working on a deal for US investors to buy the app from ByteDance. US President Donald Trump speaks to journalists about TikTok. Photo: TNS The new account, @whitehouse, went live on Tuesday evening with an initial video showing footage of Trump as he declared: 'I am your voice.'
