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Why Trump Media's sale of fast access to market-moving social posts is controversial

Why Trump Media's sale of fast access to market-moving social posts is controversial

From trade wars to military wars, anything the US president says can shift markets, and so teams of traders - as well as a host of automated computer systems - monitor his statements to perform trades within seconds. Trump Media & Technology Group (TMTG) now wants to charge for such market-moving information put out on its Truth Social platform. It has launched a paid service to give Wall Street firms and institutional investors the "fastest access" to the social media site's most influential accounts. TMTG has not directly said the service includes the account of the president himself, but with some 13 million followers - the most on the site - it's fair to say that his posts would be among, if not the, most influential. However, the move has prompted a series of legal questions and ethical musings, including whether it is right that a company - of which the president's family remains the majority shareholder - stands to profit from his own public statements. The service launched by TMTG is called Truth API. It is a new data feed that provides real-time access to posts in "milliseconds" from the "highest-ranking Truth Social accounts". The service was anticipated to become available to institutional customers on 1 August. The Financial Times reported, external that customers could be charged as much as $100,000 a month for high-speed access, but TMTG has not confirmed the figure. TMTG says it expects it to create a steady source of new revenue for the firm, which is currently loss-making. While anyone can pay for the service, it is mainly designed for so-called high-frequency and algorithmic trading firms - those TMTG states are "most impacted by the cost of a delay in information". For these firms, financial trading is automated. Electronic systems using algorithms buy and sell much faster and at a greater scale than humans, according to Charles Schwab. It is a case of "blink, and you'll miss it", the investment bank says. "Such systems are often designed to make just a tiny profit on each transaction, but through sheer speed and volume, they can generate large returns for their firms," it adds. There has been a wall of silence in terms of who has signed up to the service so far. TMTG says it had customers register in advance of the launch date, but has not revealed how many.

BP's $5.7bn profit highest since 2022 as Iran war pushes up oil price

BP's $5.7bn profit highest since 2022 as Iran war pushes up oil price

Image source, Getty ImagesByEmer MoreauBusiness reporterPublished4 August 2026, 10:04 BSTUpdated 1 hour agoProfits at BP have surged to the highest since 2022 after the war in the Middle East pushed up oil prices. The oil giant reported a profit of $5.73bn (£4.26bn) between April and June. That was more than double the $2.35bn made a year earlier and the highest quarterly profit since 2022 when the Russia-Ukraine war began. The price of crude oil has jumped since the outbreak of the Iran war earlier this year due to major disruption to global supplies of oil and gas through the Strait of Hormuz. Environmental and poverty campaigners blasted BP for "profiteering" off skyrocketing oil prices. Crude oil prices shot up after the outbreak of conflict in the Middle East, which in turn pushed up petrol and diesel prices and domestic energy costs around the world. BP said Brent crude – the global benchmark for oil prices – averaged $103.85 a barrel in the April-to-June quarter, up from $67.88 in the same period last year. The rise in the oil price has benefited all energy companies, not just BP, with rival Shell also reporting a doubling in quarterly profits last week. On Monday, US President Donald Trump said American oil firms ExxonMobil and Chevron were "making too much money". He told reporters: "I don't like it, and I should be the last one to say because I'm a big free enterprise guy. "They ought to give some of that back to the public, and they better cut the retail price, the consumer price." Despite the big rise in profits, BP chief executive Meg O'Neill said the company was not reaching its full potential. BP, which employs nearly 14,000 people in the UK, confirmed plans to move further away from clean energy, revealing plans to sell off its US renewable natural gas business Archaea.

US states sue to block Trump tariffs impacting dozens of countries

US states sue to block Trump tariffs impacting dozens of countries

Image source, AFP via Getty ImagesByOsmond ChiaBusiness reporterPublished4 August 2026, 03:00 BSTUpdated 1 hour agoTwenty five US states sued the administration of US President Donald Trump on Monday over new tariffs of 10% to 12.5% on goods from 60 trading partners. The tariffs came into effect in July, targeting countries including the UK and China as well as the European Union, over Washington's contention that they have failed to properly tackle forced labour. In a legal document seen by the BBC, the coalition of Democratic states said the decision was "arbitrary, capricious, and contrary to law." In response, White House spokesman Kush Desai said: "The US is using its lawful authority" to address practices that burden American businesses. Desai added that any foreign country's failing to deal with the importation of goods produced with forced labour was "unreasonable" and must be addressed. The new tariffs were imposed on major trading partners like Japan, Brazil and Taiwan under Section 301 of the 1974 US Trade Act, legislation which is designed to target nations that use forced labour. The lawsuit said the Trump administration "cannot use forced labour as a pretext to continue its illegal tariff scheme." "The tariffs the USTR imposed are so broad that they defy the USTR's own stated aims and make a mockery of the statute used to justify them," it said. "President Trump's illegal tariffs are nothing more than a tax on hardworking families," said New York Governor Kathy Hochul. "Despite losing every step of the way, Trump is trying yet again to inflict more chaos on working families and homegrown Oregon businesses," Oregon Attorney General Dan Rayfield said in a statement. "We're all paying the price for these unlawful tariffs, not foreign governments," he added. Several of the affected trading partners have expressed disappointment over the new tariffs, with Brazil and Japan's governments separately calling the measures "unjustified".

Why is Trump Media selling early access to Trump's Truth Social posts?

Why is Trump Media selling early access to Trump's Truth Social posts?

President Donald Trump's media company has launched a paid subscription service on Truth Social that offers users access to posts from the website's most prominent accounts milliseconds before they appear to the general public. While the company's announcement does not specifically mention the US president's account, his is the most popular on the site, with more than 13 million followers. The service reportedly costs up to $100,000 (£74,170) per month, with a lower-priced $60,000 (£44,679) option also available.

McDonald's earnings beat estimates, chain announces new U.S. head to accelerate growth

McDonald's earnings beat estimates, chain announces new U.S. head to accelerate growth

McDonald's on Tuesday reported mixed quarterly results as same-store sales growth in the U.S. slowed. The company also announced that Skye Anderson is assuming the role of president of its U.S. business, effective Tuesday, as it tries to boost performance in its home market. She succeeds Joe Erlinger, who led the division for more than six years. Anderson, a 26-year McDonald's veteran, previously served as chief operating officer of McDonald's USA and led its Global Business Services unit before that. "While our playbook is working around the world, we see an opportunity to raise the bar in the U.S. and accelerate performance in our largest market," McDonald's CEO Chris Kempczinski said in a statement. The burger giant reported second-quarter net income of $2.36 billion, or $3.32 per share, up from $2.25 billion, or $3.14 per share, a year earlier. Excluding restructuring charges and other items, McDonald's earned $3.38 per share. The company's global same-store sales ticked up 1.3%, meeting Wall Street's expectations, according to StreetAccount estimates. McDonald's U.S. same-store sales increased 0.8% in the quarter. The chain said that average check rose, but traffic to its domestic restaurants fell. In early May, the burger chain launched a new drink lineup of refreshers and crafted sodas in its home market. However, it faced tough comparisons with the year-ago period, when it rolled out a global limited-time meal tie-in with the "Minecraft" movie. McDonald's saw stronger results outside of the U.S. Its international operated markets segment reported same-store sales growth of 1.5%, while its international developmental licensed markets division saw same-store sales rise 1.9%. In June, the company revealed a new growth strategy at its biennial worldwide convention for franchisees. A new restaurant design, better-tasting food and drinks, consumer-led innovation, and improved customer service are the four cornerstones of the new plan. The chain wants to become diners' first choice, every time. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Pfizer tops estimates, hikes low end of revenue guidance on strength of Eliquis, other drugs

Pfizer tops estimates, hikes low end of revenue guidance on strength of Eliquis, other drugs

Pfizer on Tuesday reported second-quarter results that topped estimates and hiked the low end of its revenue outlook, citing an added $1.5 billion in sales from its non-Covid products. The company is now expecting full-year revenue to total $60.5 billion to $62.5 billion, which compares to a previous outlook of $59.5 billion to $62.5 billion. That sales range would still be roughly flat or down slightly compared with 2025 revenue of $62.6 billion. Pfizer said it cut its full-year revenue expectation for its Covid products – the vaccine and antiviral pill Paxlovid – to $4 billion, down from around $5 billion previously. The pharmaceutical giant reiterated its full-year adjusted profit outlook of between $2.80 and $3 per share. Pfizer reported revenue of $15.03 billion for the first quarter, up 3% from the same period a year ago. Sales increases for key products, including its blood thinner Eliquis and targeted cancer drug Padcev, helped to counteract struggles in its Covid business. Eliquis in particular blew past estimates for the quarter, raking in $2.43 billion in sales, up 19%. Analysts were expecting revenue of $2.08 billion, according to StreetAccount. The company booked a net loss of $248 million, or 4 cents per share, for the period. That compares with net income of $2.91 billion, or 51 cents per share, during the second quarter of 2025. Excluding certain items, including restructuring charges and costs associated with intangible assets, Pfizer posted earnings per share of 77 cents for the quarter. The company also announced the second phase of a multi-year initiative to slash costs, which targets around $1.5 billion in savings through 2029. That phase focuses on what the company called product portfolio enhancements, network structure changes and additional operational efficiencies. The first part of that effort is on track to deliver $1.5 billion in savings by the end of 2027. Pfizer announced an additional $1 billion in savings from a separate cost-cutting program, which will be achieved from 2027 to 2029. That adds to the previously announced $5.7 billion in cost savings the company will achieve through the program by the end of the year. The pharmaceutical giant is looking to longer-term investments in its pipeline, including its recent $10 billion acquisition of the obesity biotech Metsera, to counter waning Covid product sales and declines from older drugs. Investors are focused on several crucial data releases from Pfizer this year, including data on a combination regimen that includes its GLP-1 injection and an amylin asset.

McDonald's names company veteran Skye Anderson as its U.S. president as growth in its largest market slows

McDonald's names company veteran Skye Anderson as its U.S. president as growth in its largest market slows

McDonald's announced that company veteran Skye Anderson will lead its U.S. business, effective Tuesday, as the company tries to win over cost-conscious diners in its largest market. "I look forward to working closely with her and the U.S. leadership team to help accelerate performance and unlock the significant opportunity in front of us, and I have tremendous confidence that she is the ideal leader for this next phase of our U.S. business," McDonald's CEO Chris Kempczinski said in a statement. Earlier this year, Anderson was named chief operating officer for McDonald's USA. Prior to that, she led the company's Global Business Services segment, which was created with the aim of making its corporate operations more efficient and using the restaurant giant's scale. She also spent four years in charge of McDonald's U.S. West Zone; in that role, she increased average restaurant unit cash flow by $100,000 and drove same-store sales growth of more than 30%, according to the company. "I've had the opportunity to work closely with Skye throughout much of her career, and I've repeatedly turned to her to lead some of our most important businesses and transformation efforts because she's a proven change agent who can act with urgency to mobilize our System," Kempczinski said. Anderson succeeds Joe Erlinger, who has held the role for more than six years. Erlinger will stay on as an advisor through early 2027. McDonald's also reported its second-quarter results on Tuesday. The company's earnings topped Wall Street's estimates, but its revenue fell short of analysts' expectations. U.S. same-store sales grew just 0.8%, and traffic to its domestic restaurants fell during the quarter. Broadly, McDonald's has outperformed U.S. rivals by leaning into value meals and buzzy promotions to attract diners. But a successful marketing move — like its tie-in meal with the "Minecraft" movie during the year-ago period — means that the burger chain has to keep surpassing its own wins to grow same-store sales. In early June, the company unveiled a new growth strategy as it aims to become diners' first option. The plan includes menu innovation that elevates taste and quality, listening to how consumers interact with brands and a new restaurant design. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Merck hikes revenue outlook as new drug sales grow, but cuts profit guidance due to deal charges

Merck hikes revenue outlook as new drug sales grow, but cuts profit guidance due to deal charges

Merck on Tuesday beat second-quarter estimates and hiked its revenue outlook, as a slate of new products showed strong growth. But the pharmaceutical giant cut its profit guidance due to a charge tied to its acquisition of biotech company Terns Pharmaceuticals. Merck now anticipates its 2026 revenue will come in between $66.3 billion and $67.3 billion, up from a previous guidance of $65.8 billion and $67 billion. The company also expects adjusted earnings to be between $2.66 and $2.76 per share, which now includes a one-time charge of $5.7 billion, or $2.31 per share, related to the Terns deal. It also includes a $9 billion, or $3.62 per share, charge related to Merck's acquisition of Cidara Therapeutics in January. That adjusted profit outlook is down from a previous range of $5.04 to $5.16 per share. Merck has been on a buying spree as it races to offset generic competition for a few drugs, including Type 2 diabetes medications Januvia and Janumet later this year, and blockbuster immunotherapy Keytruda in 2028. The company is also betting on a newer drugs to replenish potential losses in revenue, including the first PCSK9 pill designed to lower bad cholesterol, which was approved in July. The company posted a net loss of $1.34 billion, or 54 cents per share, for the quarter. That compares with net income of $4.43 billion, or $1.76 per share, for the year-earlier period. Excluding acquisition and restructuring costs, Merck posted a loss of 13 cents per share for the second quarter. Merck raked in $16.61 billion in revenue for the quarter, up 5% from the same period a year earlier. Keytruda generated $8.37 billion in sales for the second quarter, up 5% from the same period a year ago. Analysts were expecting revenue of $8.27 billion, according to StreetAccount estimates. The reported second-quarter total includes $463 million from the new, more convenient injectable version of Keytruda. That form is key to Merck's efforts to offset likely declines in revenue after the original intravenous version of the drug goes off patent. Winrevair, which is used to treat a rare, deadly lung condition, generated $588 million in sales for the quarter, up 75% from the same period a year earlier. Analysts were expecting sales of $565 million.