Trump Media to raise $3 billion to spend on cryptocurrencies, FT reports
Trump Media Group plans to raise about $3 billion to spend on cryptocurrencies such as bitcoin, the Financial Times reported on Monday, citing people familiar with the matter.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Independent Singapore
an hour ago
- Independent Singapore
McDonald's faces sales slump, consumer boycott, and mounting criticism
McDonald's golden arches behind a throng of people taking photographs U.S.A.: McDonald's has been absorbed in a chain of hurdles that have smeared its golden arches. Patrons resisted after the colossal fast-food chain noticeably increased its food prices during a time of spiralling inflation. The repercussion deepened when a brief E. coli epidemic hit several McDonald's outlets in October, throwing consumer confidence off-balance even further. Notwithstanding the introduction of new offers and menu changes, McDonald's saw its sales slide in several successive financial periods. The descending trend persisted into 2025. In its first-quarter revenues statement, McDonald's indicated a 3.6% year-over-year decrease in U.S. equivalent sales. Operating income also dropped to 3%, and buyer foot traffic weakened by 2.6%, according to as reported recently in an article published by The Street. CEO Chris Kempczinski ascribed the low performance to a combination of commodity price increases, geopolitical pressures, and diminishing consumer preferences, calling it a rough atmosphere for the fast-food business. National boycott looms Today, McDonald's is confronted with a new challenge — a nationwide boycott planned by activist group The People's Union USA . Slated to take place from June 24 to June 30, the boycott targets McDonald's for what the group describes as manipulative business practices and ethical flaws. In a buzz-worthy Instagram post, the group's organiser, John Schwarz, charted five key criticisms. These include allegations that McDonald's has lower tax payments than many of its frontline employees, engages in price squeezing even with high earnings, and has an extensive record of anti-union behaviour. Schwarz also complained about the company's international supply chain practices, alluding to environmental ruin and run-down labour settings. Boycott movement gaining momentum The People's Union USA has been stepping up its efforts to challenge corporate control via systematised economic embargoes. Since February, it has aimed at household names such as Walmart, Amazon, Target, and General Mills — and McDonald's is just the most recent addition to its growing list. The group asserts that its objective is to 'expose corruption and exploitation'. With the looming boycott week, McDonald's will be confronted with more than just another sales plummet. It could have repercussions for its public image, labour practices, and customer relationships. See also Gyms and tuition centres replace Singapore cinemas amid closures
Business Times
2 hours ago
- Business Times
Australia: Banks, miners lift stocks; Trump's Iran-Israel truce announcement boosts sentiment
AUSTRALIAN shares rose on Tuesday, led by gains in banks and miners, as US President Donald Trump's announcement of the Iran-Israel ceasefire lifted investor sentiment globally. The S&P/ASX 200 index advanced 1.1 per cent to 8,569.50 points by 0055 GMT. The benchmark was set to snap five consecutive sessions of losses. In a post on his Truth Social site, Trump said a 'complete and total' ceasefire between Israel and Iran will go into force with a view to ending the 12-day conflict between the two nations. 'Markets are likely to look past the issue for as long hostilities remain localised... and Iran avoids blockading the Strait of Hormuz,' said Kyle Rodda, a senior financial market analyst with Financials hit a record high, climbing 1.8 per cent. The 'Big Four' banks added between 1.4 per cent and 2.1 per cent. Miners advanced 1.5 per cent in their strongest trading session in more than two months on the back of stronger iron ore prices due to improving short-term demand prospects in top consumer China. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up BHP and Rio Tinto gained 1.9 per cent and 2.2 per cent, respectively. Bucking the trend, energy stocks fell as much as 5.1 per cent to a one-week low and were set to snap two sessions of gains as oil weakened after the ceasefire announcement relieved worries of supply disruption in the area. Woodside and smaller peer Santos lost 6.5 per cent and 1 per cent, respectively. Woodside was also among the benchmark's top losers. Markets now await local consumer price index data later this week for further cues into the Reserve Bank of Australia's interest rate trajectory. New Zealand's benchmark S&P/NZX 50 index rose 0.3 per cent to 12,571.02 points. REUTERS
CNA
2 hours ago
- CNA
CNA938 Rewind - Trump claims Iran and Israel have agreed to a ceasefire – will it hold?
CNA938 Rewind Play US President Donald Trump announced a complete ceasefire between Israel and Iran, hours after Iran launched a retaliatory strike on a US air base in Qatar. The potential deal could end a 12-day war between the countries, with Iran winding down its missions first, followed by Israel 12 hours later. There's been no official confirmation of the agreement from Israel or Iran. Andrea Heng and Susan Ng chat with Mouin Rabbani, non-resident senior fellow at the Middle East Council on Global Affairs. CNA938 Rewind - Trump claims Iran and Israel have agreed to a ceasefire – will it hold? US President Donald Trump announced a complete ceasefire between Israel and Iran, hours after Iran launched a retaliatory strike on a US air base in Qatar. The potential deal could end a 12-day war between the countries, with Iran winding down its missions first, followed by Israel 12 hours later. There's been no official confirmation of the agreement from Israel or Iran. Andrea Heng and Susan Ng chat with Mouin Rabbani, non-resident senior fellow at the Middle East Council on Global Affairs. 10 mins CNA938 Rewind - Open for Business: Is Malaysia's new sales tax on non-essentials necessary? From July 1st, Malaysia will impose a sales tax rate of 5 per cent or 10 per cent on non-essential and luxury goods, including salmon and imported fruits. The service tax will also be expanded to cover six new categories, including rental and leasing. But what necessitated it and how will it hit consumers both in Malaysia and shopping Singaporeans? Andrea Heng and Susan Ng chat to Cassey Lee, Economist, Senior Fellow and Coordinator for the Regional Economic Studies Programme at ISEAS-Yusof Ishak Institute to find out more. 12 mins CNA938 Rewind - Malaysia's Booker Prize nominee Tash Aw discusses 'The South' – the first in a quartet of novels In 'Culture Club', Melanie Oliveiro speaks with Malaysian author Tash Aw, known for international bestsellers like 'The Harmony Silk Factory' and the longlisted Booker Prize novel 'Five Star Billionaire'. Twenty years after his debut title, Aw will talk about 2025's 'The South' which is a coming-of-age tale of teenager Jay Lim who – with his family – moves south of the Malaysian peninsula to a neglected farm that they have inherited. Aw will talk about the characters and era that propel the story and how 'The South' is the first in a quartet of novels. 39 mins
