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Trump Social Media App May Raise $50 Million Before Deal Closes

Former U.S. President Donald Trump's new social media venture revealed in a regulatory filing on Monday that it may collect up to $50 million in convertible notes before merging with a blank-check acquisition firm.

When Truth Media & Technology Group (TMTG) joins with Digital World Acquisition, it shall gain $1.25 billion in funding. However, the Securities and Exchange Commission (SEC) has been looking into the deal since it was signed all the way back in October. The funds are unavailable to Trump's company until the SEC approves the deal and it officially closes.

MACROECONOMIC DATA ANALYSIS

The Bank of Japan's (BOJ) deputy governor said on Tuesday that the current monetary stimulus should be maintained to corroborate long-term growth in prices, salaries, jobs & corporate profits, dispersing worries about an early withdrawal from accommodative policies. The BOJ is falling behind other major central banks in dialing back stimulus which combats upcoming crises, with inflation in Japan much below that of the United States and other nations.

As regional & global air as well as passenger traffic return to high levels, Singapore will resume construction of a fifth terminal at Changi Airport after a two-year delay, the transport minister stated on Tuesday. In a speech at an aviation summit, transport minister S. Iswaran claimed that traffic in May grew from March by around 40% of pre-pandemic levels.

CURRENCIES

The U.S. dollar inched lower in Tuesday’s early sessions, as it continues to struggle for a stronghold. However, the Chinese yuan found support after investors dismissed their bets on rising U.S. interest rates, resulting in further advances for the dollar greenback. The U.S. Dollar Index, which measures the value of the greenback against a basket of other currencies, dropped 0.48% to 103.707.

GOLD

Gold futures edged higher on Tuesday morning, as the U.S. dollar slowly resumed its upward trend and U.S. Treasury yields began their optimistic rally. The U.S. dollar, which usually moves in the opposite direction of the bullion, edged lower on Tuesday after sliding from near 20-year highs on Monday, by 0.73% to price at $1,827 per ounce.

OIL

Oil prices edged higher on Tuesday as Hungary defied a European Union request for a ban on Russian oil imports, further dampening the tight global crude supply, while investors & traders cashed out gains after a recent rally. Brent futures inched higher by 0.32% to $114.62 a barrel, and WTI oil futures rose by 0.33% to $112.17 per barrel.

INDICES 

USA: S&P500 -0.39%, Dow Jones Industrial Average +0.08%, Nasdaq Composite -1.16%

Europe: FTSE 100 +0.71%, DAX +1.39%, CAC 40 +1.41%

Asia: Nikkei 225 +0.42%, Hang Seng +3.27%, CSI 300 +1.25%, Nifty 50 +2.34%

Newest

Tim Cook makes the most direct indication yet that Apple is creating a headset.

Tim Cook, the CEO of Apple, has provided the closest thing to a confirmation that the company is developing a headset.

In a recent interview with China Daily USA, Cook was questioned about what, in his opinion, are the essential elements for augmented reality, or AR, to be successful in the consumer market.

“I am incredibly excited about AR as you might know. And the critical thing to any technology, including AR, is putting humanity at the center of it,” he said, echoing comments he’s made in the past about how important AR is to the company.

Meta and others tech titans create the metaverse standard body

Meta, Microsoft, and other tech titans racing to build the emerging metaverse concept have formed a group to encourage the development of industry standards that will make the companies' nascent digital worlds compatible with one another.

The World Wide Web Consortium (W3C), as well as other well-known standards-setting organizations, are among the participants in the Metaverse Standards Forum, according to a statement released by the group on Tuesday announcing its formation.

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