Trump Media and Technology Group, the owner of former President Donald Trump's social networking site Truth Social, lost more than $300 million last quarter, according to its first earnings report as a publicly traded company. For the three-month period that ended March 31, the company posted a loss of $327.6 million, which it said included $311 million in non-cash expenses related to its merger with a company called Digital World Acquisition Corp., which was essentially a pile of cash looking for a target to merge with. It’s an example of what’s called a special purpose acquisition company, or SPAC, which can give young companies quicker and easier routes to getting their shares trading publicly.
Back in the city where it all began for Francisco Lindor, the Mets' shortstop begins a three-game series against his former team with a hugely disappointing start to the season.
FDIC Chair Martin Gruenberg said Monday that he is prepared to step down, a shakeup that could have implications for an aggressive campaign to impose tougher regulations on US banks.