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Trump Media (NASDAQ: DJT) stock jumped more than 10% in morning trading on Wednesday on news it was expanding into financial services, launching Truth.Fi, which will include Bitcoin and other cryptocurrencies, exchange-traded funds (ETFs), and separately managed accounts, among other traditional investment vehicles. Brokerage firm Charles Schwab will manage the funds, which are launching with an initial investment of up to $250 million. Charles Schwab told Fast Company as a matter of policy, it “[does] not comment on any current or former client activities.” Trump Media and Technology Group Corp. (TMTG) is the parent company of the social media platform Truth Social and the video streaming platform Truth+, which President Donald Trump holds a majority stake in. The company anticipates that Truth.Fi products and services, including multiple investment vehicles, will be rolled out in 2025. Truth.Fi is a natural expansion of the Truth Social movement,” CEO and chairman Devin Nunes said in a statement. “We began by creating a free-speech social media platform, added an ultra-fast TV streaming service, and now were moving into investment products and decentralized finance.” “Developing American First investment vehicles is another step toward our goal of creating a robust ecosystem through which American patriots can protect themselves from the ever-present threat of cancellation, censorship, debanking, and privacy violations committed by Big Tech and woke corporations,” Nunes added. The news comes on the heels of President Trump’s multibillion-dollar meme coin, which debuted shortly before he was sworn in for his second term; a new executive order promoting crypto; and the election of several “pro-crypto” lawmakers to Congressall of which have fueled a surge in the price of crypto, specifically of Bitcoin, as well as concerns about the president’s conflicts of interest as he pursues his own personal business interests while in office. Meanwhile, Trump Media’s streaming platform Truth+ reported a $19 million loss in the third quarter due to legal fees and costs tied to that streaming deal, according to Reuters. On Tuesday, Trump advisor and ally Elon Musk announced his social media platform X would be moving into financial services, partnering with Visa on a digital wallet and peer-to-peer payment service that would enable users to move funds between their bank accounts and a digital wallet in real time, similar to Venmo or Zelle.
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The Food and Drug Administration (FDA) has classified a recall of Frito-Lay potato chips at the highest level of risk. The newly announced classification means that under certain conditions, those who consume the chips are at risk of experiencing serious adverse health consequences or even death. Heres what you need to know about the Frito-Lay potato chips recall. Whats happened? On December 16, 2024, Frito-Lay issued a voluntary limited recall on select packages of some of its Lay’s Classic Potato Chips. The recall was first published on the FDAs website two days later. But this week, the FDA said in its enforcement database that it has classified the recall as a “Class 1.” An FDA spokesperson confirmed the classification with Fast Company. What is a Class 1 FDA recall? The FDA has three classifications into which the agency slots recalls based on potential hazards and risks to the public. A Class III recall is the least serious. According to the FDA, this type of recalled product is not likely to cause adverse health consequences.” A Class II recall is a little more concerning, but the use of or interaction with the product is unlikely to cause lasting harm. As the FDA notes, exposure to the product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote.” A Class I recall is the most serious. It means the use of or exposure to the product has a reasonable probability of causing serious adverse health consequences or death,” according to the FDA. Class 1 is the status the recalled Frito-Lay potato chips now fall under. Why is the Frito-Lay potato chips recall a Class 1 recall? The Frito-Lay potato chip recall is classified as a Class 1 recall because the chips may contain undeclared milk. For those with milk allergies, this can represent a significant risk to healthup to and including death. According to the Mayo Clinic, a milk allergy is one of the most common food allergies among children. What Frito-Lay potato chips are part of the recall? According to Frito-Lays recall notice posted on December 16 and the FDA notice posted on December 18, only one product is being recalled: Lays Classic Potato Chips with the following characteristics: Size: 13 oz. (368.5 grams) UPC: 28400 31041 Guaranteed Fresh date: 11 FEB 2025 Manufacturing Code: 6462307xx or 6463307xx The FDA notice states that the chips must have the guaranteed fresh date above plus one of the two manufacturing codes to be included in the recall. According to the FDA, more than 6,300 bags of chips were impacted. An image of the recalled product can be seen here. Where and when were the recalled Frito Lay potato chips sold? The recalled chips were distributed in Oregon and Washington to certain retail stores and e-commerce distributors, according to the FDA notice. The notice does not state which online retailers and retail stores received the distributed chips. The recalled chips were sold as early as November 3, 2024, and the first recall notice was not published until December 16. That means people had plenty of time to stock up on the chips before the holidays. Further, since the recalled chips have a guaranteed fresh date of February 11, 2025, many people could still have the recalled chips in their possession. What should I do if I have the recalled chips? Be sure to read the full recall notice here. The recall notice warns, “Those with an allergy or severe sensitivity to milk run the risk of a serious or life-threatening allergic reaction if they consume the recalled product.” According to the notice, if you have a sensitivity or allergy to milk, you should not consume the recalled chips and dispose of them immediately. Those with further questions about the recall can contact Frito-Lay Consumer Relations at 1-800-352-4477 between 9 a.m. and 4:30 p.m. CST, Monday through Friday.
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Firecrackers popped, incense was offered at temples and dancers and drummers paraded Wednesday in Asia and farther afield as millions around the world celebrated the Lunar New Year.From Beijing to Havana, the holiday known as the Spring Festival in China, Tet in Vietnam and Seollal in Korea is a major festival celebrated in many countries. Wednesday marked the start of the Year of the Snake, one of 12 animals in the Chinese zodiac.Throngs of people in down jackets filled a Beijing park for a “temple fair” on a sunny but chilly day. Some rang bells and tossed coins into containers in the shape of gold bars for good luck, while others ate traditional snacks from food stalls and took photos with a person dressed up as the God of Wealth.The Lunar New Year is a time to wish for good luck and prosperity in the coming year for oneself and others.“The past year was a very busy one for me, because I had to take care of both my kid and my work,” said Beijing resident Jiang Hecang. “In the Year of the Snake, I wish my kid will grow healthily and my work can remain stable. Then I can be happy enough.”In Malaysia, the crackling of firecrackers greeted the new year outside Guan Di temple in the capital, Kuala Lumpur, followed by lion dances to the rhythmic beat of drums and small cymbals.Ethnic Chinese held incense sticks in front of them and bowed several times inside the temple before sticking the incense into elaborate gold-colored pots, the smoke rising from the burning tips.Hundreds of people lined up on the eve of the Lunar New Year at the Wong Tai Sin Taoist temple in Hong Kong in a bid to be among the first to put incense sticks in the stands in front of the temple’s main hall at 11 p.m.“I wish my family will be blessed. I hope my business will run well. I pray for my country and wish people peace. I hope this coming year is a better year,” said Ming So, who visits the temple annually for the late-night ritual.Many Chinese who work in bigger cities return home during the eight-day national holiday in what is described as the world’s biggest annual movement of humanity. The exodus turns Beijing, China’s capital, into a bit of a ghost town, with many shops closed and normally crowded roads and subways emptied.Traditionally, Chinese have a family dinner at home on New Year’s Eve. On the Lunar New Year, many visit temples to pray and attend temple fairs to watch performances and buy snacks, toys and other trinkets.“I bring my children here to experience the atmosphere, because the New Year atmosphere is fading,” Beijing resident Wang Xinxin said at a temple fair at Ditan Park, the former Temple of Earth in the Ming and Qing dynasties.“Children like mine don’t have much idea what New Year was like in Beijing before, but here we can still see some elements of it,” Wang said.The government has curtailed non-official celebrations, with major cities outlawing the noisy firecrackers that once reverberated around Beijing and left some blocks enshrouded in smoke.Many Chinese take advantage of the extended holiday to travel in the country and abroad. Ctrip, an online booking agency that operates Trip.com, said the most popular overseas destinations this year are Japan, Thailand, Hong Kong, Malaysia, Singapore, Australia, the United States, South Korea, Macao and Vietnam.In Moscow, Russians cheered, waved and took smartphone photos of drummers, costumed dancers and long dragon and snake figures held aloft in a colorful procession that kicked off a 10-day Lunar New Year festival on Tuesday night.The Chinese and Russian governments have deepened ties since 2022, in part to push back against what they see as U.S. dominance of the world order.Visitors shouted “Happy New Year” in Russian and expressed delight at being able to experience Chinese food and culture in Moscow, including folk performances and booths selling snacks and artwork.Cuba’s small Chinese community celebrated the Lunar New Year on Tuesday night with a parade of glowing lanterns and dragons winding their way through the narrow streets of Chinatown.The island was once home to one of the largest and oldest Chinese communities in the Americas. Now, a much smaller community celebrates major holidays with a Cuban twist, blending rum and cigars with traditional Chinese cuisine. Associated Press video journalists Wayne Zhang in Beijing, Alice Fung in Hong Kong and Syawalludin Zain in Kuala Lumpur, Malaysia, contributed to this story. Ken Moritsugu, Associated Press
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