Media
Australia's Victoria to toughen coronavirus lockdown: media – The Guardian
By Lidia Kelly
MELBOURNE (Reuters) – Australia’s government expressed support on Sunday for the strictest social-distancing measures yet by the state of Victoria in an effort to contain the new coronavirus.
The government in country’s second-most populous state is expected to announce that movement and businesses will be severely restricted in the state’s capital Melbourne for at least six weeks from Wednesday, media reported.
The backing by the federal government, ruled by a Liberal Party-led coalition, for the measures by Victoria’s Labor Party government shows national unity of message across the political spectrum in a country with a loose federal system.
Melbourne, Australia’s second-largest city, is already under a reimposed six-week stay-home order, but it has been struggling to rein in COVID-19. Record numbers of new infections of the virus that causes the disease were reported last week, prompting warnings of further restrictions.
The state reported more than 650 infections on Sunday, up from 397 cases Saturday, ABC News television reported, citing unnamed sources.
Education Minister Dan Tehan told Sky News that the federal government would “absolutely” support Victoria in ramping up its measures.
“We will continue to offer as much support as we can,” Tehan said. “There’s no question these are very difficult times in Victoria.”
Australia has fared far better than many other countries in keeping the coronavirus from spreading, but at a high economic cost. It has recorded around 17,300 coronavirus cases and 200 COVID-19 deaths, but the recent surge in Victoria has proven difficult to contain.
Melbournians are allowed to go out for work, essential shopping, medical care and exercise. Under the new restrictions, they would have to stay within 5 kilometres (3 miles) of their homes, with only one person from each household allowed to go to grocery shopping.
The measures would limit transport options and affect many retail outlets. Restaurants, which allow now for delivery and take-away options would be limited to contact-less pick-up orders, Melbourne newspapers reported.
Movement restrictions and business operations would also be limited in the rest of the state, but not to the same level as in Melbourne.
(Reporting by Lidia Kelly; Editing by Cynthia Osterman and William)
New York
CNN
—
Trump Media, the parent company of the former president’s Truth Social, alerted Nasdaq Inc. on Thursday of what the company suspects is illegal activity driving down the price of its shares.
In a letter to the exchange, Devin Nunes, the CEO of Trump Media (DJT), laid out what he believes could be deemed “naked” short selling.
Naked short selling involves someone selling shares they don’t own or have not borrowed. They will often then try to buy shares at a reduced price to cover themselves. This practice is generally illegal. Whereas legitimate short sellers, people who seek to benefit from declines in the value of a company’s shares, borrow the shares before selling.
The letter was made public Friday in a filing with the Securities and Exchange Commission.
Nunes also noted in the letter that shares of the company were on a list the Nasdaq maintains that’s “indicative of unlawful trading activity.”
“This is particularly troubling given that “naked” short selling often entails sophisticated market participants profiting at the expense of retail investors,” he said.
Representatives from Nasdaq and Trump Media did not immediately respond to requests for comment.
The company, which is majority-owned by former President Donald Trump, is down by around 50% from the all-time high it set on March 26, the day after it merged with a blank-check acquisition company to go public.
Shares of company have been on a wild ride since.
Although the company is still worth billions of dollars, it is struggling to make money and needs cash. Experts have warned investors to be careful if they choose to trade the stock, because the company doesn’t have the fundamentals to back up its sky-high valuation.
Trump Media lost $58 million in 2023 and made just $4.1 million in revenue.
Shares of the company ended Friday’s session about 9.6% higher.
This story has been updated with additional developments and context.
CNN’s Nicole Goodkind contributed to this report.
Trump Media & Technology Group said it will issue millions more shares, sending its stock plunging again.
The company behind former President Donald Trump’s Truth Social platform said in a Securities and Exchange Commission filing that it is registering the resale of up to almost 21.5 million new shares of common stock issuable upon the exercise of warrants, up to about 146 million shares of common stock, and up to about 4 million warrants to purchase common stock. Certain shares held by insiders may still be restricted from trading until the expiration of a lock-up agreement 5-6 months after the date of the IPO.
New York
CNN
—
Trump Media, the parent company of the former president’s Truth Social, alerted Nasdaq Inc. on Thursday of what the company suspects is illegal activity driving down the price of its shares.
In a letter to the exchange, Devin Nunes, the CEO of Trump Media (DJT), laid out what he believes could be deemed “naked” short selling.
Naked short selling involves someone selling shares they don’t own or have not borrowed. They will often then try to buy shares at a reduced price to cover themselves. This practice is generally illegal. Whereas legitimate short sellers, people who seek to benefit from declines in the value of a company’s shares, borrow the shares before selling.
The letter was made public Friday in a filing with the Securities and Exchange Commission.
Nunes also noted in the letter that shares of the company were on a list the Nasdaq maintains that’s “indicative of unlawful trading activity.”
“This is particularly troubling given that “naked” short selling often entails sophisticated market participants profiting at the expense of retail investors,” he said.
Representatives from Nasdaq and Trump Media did not immediately respond to requests for comment.
The company, which is majority-owned by former President Donald Trump, is down by around 50% from the all-time high it set on March 26, the day after it merged with a blank-check acquisition company to go public.
Shares of company have been on a wild ride since.
Although the company is still worth billions of dollars, it is struggling to make money and needs cash. Experts have warned investors to be careful if they choose to trade the stock, because the company doesn’t have the fundamentals to back up its sky-high valuation.
Trump Media lost $58 million in 2023 and made just $4.1 million in revenue.
Shares of the company ended Friday’s session about 9.6% higher.
This story has been updated with additional developments and context.
CNN’s Nicole Goodkind contributed to this report.
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