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Trump's Truth Social sees soaring market debut, UBS aims to boost wealth business post Credit Suisse acquisition, German groceries uphold century-old ban on Sunday work for computers
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- Trump's Truth Social's successful market debut raises doubts about its financial sustainability despite high valuation.
- Visa and MasterCard's fee reduction settlement benefits U.S. merchants, allowing price variation based on credit cards used.
Deep dives
Trump's Social Media Stock Rollercoaster
Former U.S. President Donald Trump's social media company hit the public market, with a turbulent first day where the share price initially surged over 50% but closed 16% higher. The company, Trump Media and Technology Group, behind Truth Social, faced significant financial challenges, never having turned a profit and reporting about $40 million in losses in the first nine months of the previous year. Despite poor financials, Trump's high stake valued at about $5.5 billion raised questions on his ability to convert the paper gain into actual cash.
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