logo
Derek Burney: First serious crack in senior levels of Trump's administration

Derek Burney: First serious crack in senior levels of Trump's administration

National Post19-06-2025

Article content
A contributing factor to Musk's angst was Trump's decision to pull the nomination of Musk ally Jared Isaacman for NASA Administrator after 'a thorough review of prior associations.' Isaacman is a former commercial astronaut and founder and CEO of payment processing company Shift4 Payments. He is also an investor in Musk's SpaceX and led two private spaceflight missions. Trump expressed reservations about his ties to the Democratic party saying, 'And he happened to be a Democrat, like totally Democrat. And I say, you know, we won. We get certain privileges. And one of the privileges is we don't have to appoint a Democrat. NASA is very important.'
Article content
Musk's company SpaceX works closely with the U.S. government on contracts worth billions of dollars. Several agencies use its Falcon rockets, in-orbit space vehicles and Starlink, a network of more than 7,500 internet satellites. Musk's space firm is the only one regularly transporting astronauts to and from the International Space Station. It has $4 billion in contracts to develop its Starship vehicle for future astronaut visits to the moon. SpaceX also has close ties to U.S. Spy agencies and is a candidate for the president's 'Golden Dome' shield for America.
Article content
Article content
An intense personal squabble could put much of this at risk with concomitant risks for U.S. space strategy where Musk is the clear leader in terms of achievements. While the row with Musk might make it more difficult for the Republicans to maintain control of Congress in 2026, it may help Trump win the internal Republican battle over the 'One Big Beautiful Bill.'
Musk certainly has the money and the larger social network vehicle, but Trump controls political power in Washington. That means the conflict between the two super-egos is uneven. Under Trump, Washington has become inured to bombshell announcements on an almost daily, if not hourly, basis. But the dispute with Musk is the first serious crack in senior levels of the Trump Administration.
Article content
Trump is a consummate transactional leader who enjoys making deals. He offered Musk what he believed was a mutually favourable transaction. Support my policies, and I will support your access and influence. Trump and Musk fell out because Trump just doesn't get principled people. Musk rejected the linkage, because that would have violated his principal concern about rising deficits. His reputation is based on deeds, not deals.
Article content
Article content
Cooler heads may yet prevail, but neither individual gives ground easily. Musk did apologize for some of his remarks, and supported the Administration's efforts to suppress riots in Los Angeles. Trump decided to move on to bigger problems — the L.A. riots, Iran, his tariff agenda and the Russian-Ukraine imbroglio.
Article content

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump Media Begins Beta Testing Global TV Streaming
Trump Media Begins Beta Testing Global TV Streaming

Globe and Mail

time37 minutes ago

  • Globe and Mail

Trump Media Begins Beta Testing Global TV Streaming

SARASOTA, Fla., June 30, 2025 (GLOBE NEWSWIRE) -- Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) ("Trump Media" or the "Company"), operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand announced today that the Company has begun beta testing the launch of Truth+ globally. The global launch will make most Truth+ TV streaming channels and video on demand content available on apps worldwide, joining the U.S., Canada, and Mexico, where Truth+ is now available via iOS, Android, and connected TV apps and on the web. For the first time, the launch will also make the flagship Newsmax channel available in international markets without the need for a VPN. Trump Media's CEO and Chairman Devin Nunes said, 'We're excited to deepen Trump Media's international footprint and bring a fresh perspective to viewers in Europe, Asia, and beyond. We're also thrilled to bring Newsmax to a global audience, who will see a dramatically different style and substance in news delivery. International viewers who want to get the other side of the story will soon have an easy opportunity to do so.' Newsmax CEO and President Chris Ruddy said, 'We're excited to partner with Trump Media as part of our growing distribution outside of the U.S. Being on Truth+ will introduce Newsmax to a new audience and will create a significant boost in viewership around the world.' The flagship Newsmax channel will be added to the web version of Truth+ already available internationally. As they are approved, Truth+ apps for iOS, Android, and connected TVs will become available in the relevant app stores around the world. About Trump Media The mission of Trump Media is to end Big Tech's assault on free speech by opening up the Internet and giving people their voices back. Trump Media operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations, as well as Truth+, a TV streaming platform focusing on family-friendly live TV channels and on-demand content. Trump Media is also launching a financial services and FinTech brand incorporating America First investment vehicles. Trump Media's Cautionary Statement About Forward-Looking Statements This press release includes forward-looking statements regarding, among other things, the plans, strategies, and prospects, both business and financial, of Trump Media. We have based these forward-looking statements on our current expectations and projections about future events, including expected potential merger & acquisition activity, the rollout of products and features, the timing and price of any share or convertible note repurchases, our Bitcoin treasury strategy, the future plans, timing and potential success of the streaming services and the launch and success of our financial services and FinTech platform. Although we believe that our plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words "believes," "estimates," "expects," "projects," "forecasts," "may," "will," "should," "seeks," "plans," "scheduled," "anticipates," "soon," "goal," "intends," or similar expressions. Forward-looking statements are not guarantees of future performance, and involve risks, uncertainties and assumptions that may cause our actual results to differ materially from the expectations that we describe in our forward-looking statements. There may be events in the future that we are not accurately able to predict, or over which we have no control. About Newsmax Newsmax Inc. is listed on the NYSE (NMAX) and operates, through Newsmax Broadcasting LLC, one of the nation's leading news outlets, the Newsmax channel. The fourth highest-rated network is carried on all major cable stations, as well as a major satellite system. Newsmax's media properties reach more than 40 million Americans regularly through Newsmax TV, the Newsmax App, its popular website and publications such as Newsmax Magazine. Through its social media accounts, Newsmax reaches 20 million combined followers. Reuters Institute says Newsmax is one of the top U.S. news brands and Forbes has called Newsmax "a news powerhouse.' Newsmax's Cautionary Statement About Forward-Looking Statements This communication contains forward-looking statements. From time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Forward-looking statements can be identified by those that are not historical in nature. The forward-looking statements discussed in this communication and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. Newsmax does not guarantee future results, performance or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. Forward-looking statements should not be relied upon as predictions of future events. We are under no duty to update any of these forward-looking statements after the date of this communication to conform our prior statements to actual results or revised expectations, and we do not intend to do so. Factors that may cause actual results to differ materially from current expectations include various factors, including but not limited to the factors set forth in the sections entitled "Risk Factors" in Newsmax's Annual Report on Form 10-K for the twelve months ended December 31, 2024, Newsmax's Quarterly Report on Form 10-Q for the three months ended March 31, 2025, and other filings Newsmax makes with the Securities and Exchange Commission. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. Undue reliance should not be placed on forward-looking statements in this communication, which speak only as of the date they are made and are qualified in their entirety by reference to the cautionary statements herein. For more information, please visit Investor Relations | Newsmax Inc. Investor Relations Contact Media Contact

If You'd Invested $1,000 in IonQ Stock 3 Years Ago, Here's How Much You'd Have Today
If You'd Invested $1,000 in IonQ Stock 3 Years Ago, Here's How Much You'd Have Today

Globe and Mail

time37 minutes ago

  • Globe and Mail

If You'd Invested $1,000 in IonQ Stock 3 Years Ago, Here's How Much You'd Have Today

Helping to pave the way forward to a quantum computing future, IonQ (NYSE: IONQ) shines brightly on the radars of investors looking for tech stocks with explosive growth potential. Over the past six months, however, investors have felt more motivated to move the stock out of the portfolios. IonQ stock has dipped more than 4% as of June 26. But is the story the same when expanding the time frame beyond the past six months to the past three years? Let's take a look at whether investors who clicked the buy button and continued to hold IonQ stock are looking at growth in their investments -- and, if so, to what degree. IonQ stock has taken a quantum leap higher over the past few years Hitting the ground running when it hit the public markets on Oct. 1, 2021, IonQ zipped 70.2% higher in its first month as a public company. Since IonQ was the only pure-play quantum computing stock available at the time, those who were both familiar with the industry and interested in gaining exposure to the burgeoning industry leapt at the opportunity to buy shares after IonQ completed its combination with a special purpose acquisition company. It's not as if the market's appetite for IonQ has waned very much, as the company continues to progress in the field of quantum computing. Consequently, those who purchased $1,000 in stock three years ago have seen their positions grow to $8,047 as of the end of trading on June 26. Does IonQ stock have any more growth potential left in the tank? Since quantum computing is still in the nascent stages of its development, it's unfair to conclude that the company's greatest growth is behind it. Of course, since the company is still unprofitable, those considering a position should be comfortable with an investment that has a higher degree of risk. Should you invest $1,000 in IonQ right now? Before you buy stock in IonQ, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and IonQ wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $713,547!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $966,931!* Now, it's worth noting Stock Advisor 's total average return is1,062% — a market-crushing outperformance compared to177%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 23, 2025

StoneX Signs Letter of Intent to Acquire Intercam's U.S. Wealth Management Entities
StoneX Signs Letter of Intent to Acquire Intercam's U.S. Wealth Management Entities

National Post

time40 minutes ago

  • National Post

StoneX Signs Letter of Intent to Acquire Intercam's U.S. Wealth Management Entities

Article content NEW YORK — StoneX Group Inc. (NASDAQ: SNEX), a global financial services firm, today announced it has entered into a letter of intent to acquire Intercam Advisors, Inc. and Intercam Securities, Inc. from Intercam Holdings, Inc. Article content The proposed acquisition remains subject to the negotiation and execution of definitive agreements, which will be subject to regulatory approvals and other closing conditions. Article content 'This transaction aligns with StoneX's strategy of expanding its global wealth management footprint, particularly in Latin America, and providing clients with broader access to markets and investment products,' said Jay Carter, CEO of StoneX Wealth Management. Article content The parties are working toward finalizing terms and entering into a definitive agreement in the near future. Article content About StoneX Group Inc. Article content StoneX Group Inc., through its subsidiaries, operates a global financial services network that connects companies, organizations, traders and investors to the global market ecosystem through a unique blend of digital platforms, end-to-end clearing and execution services, high touch service and deep expertise. The Company strives to be the one trusted partner to its clients, providing its network, product and services to allow them to pursue trading opportunities, manage their market risks, make investments and improve their business performance. A Fortune 100 company headquartered in New York City and listed on the Nasdaq Global Select Market (NASDAQ:SNEX), StoneX Group Inc. and its more than 4,400 employees serve more than 54,000 commercial, institutional, and payments clients, and more than 400,000 retail accounts, from more than 70 offices spread across six continents. Further information on the Company is available at Article content Article content Article content Contacts Article content Media Contact: Article content

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store