DEVELOPING Latest updates on the major wildfires burning in Canada
The 2024 wildfire season has begun, and it's shaping up to follow last year's unprecedented destruction in kind, with thousands of square kilometres already consumed.
Former U.S. President Donald Trump has secured an additional US$1.8 billion worth of shares in Trump Media, according to a regulatory filing this week.
Based on the company's stock hitting certain price benchmarks, Trump was awarded an additional 36 million shares in the company that owns his social media platform Truth Social. That brings his total ownership to more than 114 million shares, which based on Wednesday morning's stock price, are worth US$5.7 billion.
For now, the value of those shares is considered “paper wealth.” Trump is prohibited from selling any shares for six months after Trump Media went public without securing a waiver from the company’s board.
Trump, the presumptive Republican presidential nominee, now owns close to two-thirds of the company's outstanding shares.
Trump Media & Technology Group shares have surged in the past couple of weeks and closed Tuesday at US$49.93. Trump only needed the stock to be above US$17.50 each for 20 consecutive trading days to secure the new shares.
Trump Media got its place on the Nasdaq after merging with a company called Digital World Acquisition Corp., a special purpose acquisition company, or SPAC. These type of mergers offer young companies quicker and easier routes to getting their shares trading publicly.
On March 26, the first day of trading after Trump Media closed the merger with Digital World Acquisition, shares in the newly combined company reached nearly US$80 each in intraday trading before closing at US$57.99.
Less than a week after that flashy stock market debut, Trump Media disclosed that it lost nearly US$58.2 million last year, sending its stock tumbling more than 21 per cent. The 2023 losses marked a stark decline compared with the profit of US$50.5 million that the company reported for 2022, according to a regulatory filing.
In the subsequent weeks, the company's stock tumbled to around US$22 each before rebounding in mid-April.
Truth Social launched in February 2022, one year after Trump was banned from major social platforms including Facebook and X, formerly Twitter, following the Jan. 6 insurrection at the U.S. Capitol. He’s since been reinstated to both but has stuck with Truth Social.
Trump Media shares fell 6.5 per cent to US$46.68 in late morning trading Wednesday.
The 2024 wildfire season has begun, and it's shaping up to follow last year's unprecedented destruction in kind, with thousands of square kilometres already consumed.
Veteran TSN broadcaster Darren 'Dutch' Dutchyshen, one of Canada’s best-known sports journalists, has died. He was 57. His family says 'he passed as he was surrounded by his closest loved ones.'
A ‘lifetime of abuse’ led Dallas Ly to snap and repeatedly stab his mother inside their Leslieville apartment in 2022 but he never intended to kill her, his defence lawyers argued during his murder trial in Toronto on Thursday.
A burgeoning track star says his dream of going to the Olympics is being derailed by a deportation order after Immigration officials rejected his family’s claim for asylum
A father has been charged with second-degree murder in the stabbing death of his 34-year-old daughter in southern Quebec.
A medical examiner says a Massachusetts teen who participated in a spicy tortilla chip challenge died from ingesting a substance 'with a high capsaicin concentration.'
A Montreal father who kidnapped his daughter who has autism and lied to police when they asked where she was should serve three years in prison, a Crown prosecutor said.
The province’s health minister and solicitor general are urging Toronto to rescind its request to decriminalize simple possession of small amounts of drugs for personal use, calling the proposal 'misguided' and 'disastrous.'
Prime Minister Justin Trudeau assailed New Brunswick's premier and other conservative leaders on Thursday, calling out the provincial government's position on abortion, LGBTQ youth and climate change.
A Starbucks fan — whose name is Winter — is visiting Canada on a purposeful journey that began with a random idea at one of the coffee chain's stores in Texas.
Members of Piapot First Nation, students from the University of Winnipeg and various other professionals are learning new techniques that will hopefully be used for ground searches of potential unmarked grave sites in the future.
ALS patient Mathew Brown said he’s hopeful for future ALS patients after news this week of research at Western University of a potential cure for ALS.
When Adam Kirschner wrote 'Slap Shot,' he never imagined the song would be embraced by his favourite team.
A team is ready to help an entangled North Atlantic right whale in the Gulf of St. Lawrence.
A $200 reward is being offered by a North Vancouver family for the safe return of their beloved chicken, Snowflake.
Two daughters and a mother were reunited online 40 years later thanks to a DNA kit and a Zoom connection despite living on three separate continents and speaking different languages.
Mother's Day can be a difficult occasion for those who have lost or are estranged from their mom.
YES Theatre Young Company opened its acclaimed kids’ show, One Small Step, at Sudbury Theatre Centre on Saturday.