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Trump Media names interim CEO as Devin Nunes steps aside amid losses

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Trump Media names interim CEO as Devin Nunes steps aside amid losses

Trump Media & Technology Group on Tuesday named an interim chief executive as Devin Nunes stepped aside, marking a leadership transition at the parent of Truth Social following recent board departures and steep financial losses in 2025.

The company appointed longtime advisor Kevin McGurn as interim CEO effective immediately, succeeding Nunes, who has led the company since 2022. McGurn brings more than two decades of experience across media, telecommunications and advertising technology, according to the company.

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The leadership shift comes as Trump Media continues to report significant losses relative to its revenue. The company posted a net loss of more than $712 million in 2025 – on roughly $3.7 million in revenue, according to its annual filing with the Securities and Exchange Commission.

GOP SENATOR WILL BLOCK WARSH NOMINATION UNTIL ‘BOGUS’ POWELL PROBE ENDS

devin nunes speaks at Conservative Political Action Conference (CPAC)

Devin Nunes served as CEO of Trump Media since 2022. (Al Drago/Bloomberg via Getty Images)

Financial disclosures show expenses far outpaced revenue, including more than $576 million in operating costs. A substantial portion of the losses was tied to write-downs and losses related to digital assets, highlighting the company’s exposure to volatile investment areas.

“I want to thank Devin Nunes for his dedicated service to the Company over the past four years, and congratulate Kevin McGurn on his appointment as Interim CEO,” Donald Trump Jr., a board member, said in a statement.

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TRUMP MEDIA TO MERGE WITH TAE TECHNOLOGIES, CREATING ONE OF THE FIRST PUBLICLY-TRADED FUSION COMPANIES

President Donald Trump

President Donald Trump walks toward reporters before answering questions prior to boarding Air Force One on April 10, 2026. (Win McNamee/Getty Images)

Nunes said the transition comes as the company enters a new phase, adding it was “an appropriate time” for McGurn to take over leadership while he shifts focus to other roles, including serving as chairman of the president’s Intelligence Advisory Board.

Ticker Security Last Change Change %
DJT TRUMP MEDIA & TECHNOLOGY GROUP CORP 9.82 -0.38 -3.73%

The leadership change follows a series of recent board departures disclosed in regulatory filings. Former U.S. Trade Representative Robert Lighthizer resigned from the board in March, and director Eric Swider stepped down earlier this month. The company said in both cases the exits were not due to any dispute with management.

TRUMP MEDIA BACKS 5 AMERICA-FOCUSED ETFS

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Trump Media is the parent company of Truth Social. (iStock)

Trump Media, which operates the Truth Social platform along with its streaming service Truth+ and fintech brand Truth.Fi, has sought to expand beyond social media into areas including financial services and digital assets as it looks to grow its business.

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The company has framed the leadership transition as part of its next phase, with McGurn expected to guide operations and strategic initiatives moving forward.

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Traders place $430 million bet on lower oil price before Trump ceasefire extension

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Traders place $430 million bet on lower oil price before Trump ceasefire extension


Traders place $430 million bet on lower oil price before Trump ceasefire extension

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Live webinar to dissect the outlook of GLP-1’s impact

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Live webinar to dissect the outlook of GLP-1’s impact

The GLP-1 focused webinar will be on May 5.

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10 Things You Must Know About Earth Day in 2026

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10 Things You Must Know About Earth Day in 2026

Here are 10 essential things you must know about Earth Day as the world marks its 56th observance on Wednesday, April 22, 2026, under the theme “Our Power, Our Planet.”

10 Things You Must Know About Earth Day in 2026
10 Things You Must Know About Earth Day in 2026

1. Earth Day was born from environmental disasters and activism in 1970. U.S. Senator Gaylord Nelson of Wisconsin founded the first Earth Day after witnessing the devastating 1969 Santa Barbara oil spill and growing concerns over pollution, including deadly smog and pesticides highlighted in Rachel Carson’s “Silent Spring.” Inspired by anti-Vietnam War teach-ins, Nelson recruited activist Denis Hayes to organize a national “environmental teach-in.” On April 22, 1970, more than 20 million Americans participated in rallies, cleanups and demonstrations across the country, shutting down Fifth Avenue in New York and filling streets in major cities. The massive turnout is credited with launching the modern environmental movement.

2. The date April 22 was chosen strategically to maximize participation. Organizers selected a weekday between spring break and final exams to encourage college students to get involved. The choice proved successful, drawing young people into environmental advocacy and helping build broad public support that led to swift legislative action.

3. The first Earth Day directly spurred major U.S. environmental laws and institutions. By the end of 1970, the U.S. government created the Environmental Protection Agency (EPA) and the National Oceanic and Atmospheric Administration (NOAA). The momentum also helped pass landmark legislation including the Clean Air Act, Clean Water Act, Endangered Species Act and National Environmental Education Act, transforming how the nation addressed pollution and conservation.

4. Earth Day has grown into the world’s largest secular observance. What began as a U.S.-focused event now engages more than one billion people in over 190 countries every year. From local cleanups and tree-planting drives to global policy discussions, Earth Day unites individuals, schools, businesses and governments around shared environmental goals.

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5. The 2026 theme “Our Power, Our Planet” emphasizes collective citizen action over government alone. EarthDay.org selected the theme to highlight that environmental progress depends on everyday people, communities and local initiatives rather than any single administration or election. It builds on the 2025 focus on clean energy but shifts emphasis toward civic mobilization, defending existing protections, accelerating the renewable energy transition and solving problems at the community level. Organizers stress that people hold the power to drive change through voting, volunteering, innovation and daily habits.

6. This year’s observance runs as Earth Week with events starting April 18. To increase accessibility for working families and students, major activities begin Saturday, April 18, and continue through April 22 and beyond. The official EarthDay.org map lists thousands of events worldwide, including cleanups, teach-ins, climate marches, sustainability workshops, voter registration drives and community fairs. Schools and organizations are encouraged to host their own activities using free toolkits and resources.

7. Clean energy and community resilience remain central priorities. The 2026 campaign calls for tripling clean electricity capacity, protecting air and water quality, preserving natural resources and addressing the links between environmental health and economic stability. It encourages practical local actions such as reducing plastic use, supporting renewable projects, planting pollinator gardens and advocating for stronger environmental safeguards.

8. Earth Day has driven global impact beyond the United States. The 1990 Earth Day expanded the movement internationally, involving 140 countries. Today it serves as a platform for education on issues like climate change, deforestation, ocean plastic pollution and biodiversity loss. It has influenced international agreements and inspired youth-led movements demanding faster climate action.

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9. Participation can be as simple as small personal or community steps. Individuals can celebrate by picking up litter, planting trees, conserving water and energy, switching to reusable items, learning about local environmental issues or joining virtual events. Organizations offer free resources such as lesson plans, fact sheets, quizzes and volunteer opportunities. NASA and other agencies provide Earth Day toolkits with science-based activities for all ages.

10. Earth Day 2026 arrives amid ongoing global challenges and calls for resilience. With continued concerns over climate impacts, policy shifts and energy security, the day serves as a reminder that progress is resilient when driven by collective will. Organizers stress optimism, determination and cross-generational collaboration, celebrating the planet’s ability to inspire and sustain life while urging sustained action for future generations.

Earth Day continues to evolve from its roots as a protest and teach-in into a worldwide day of education, celebration and mobilization. In 2026, the message is clear: environmental stewardship is not dependent on distant leaders but on the power each person and community wields every day.

Whether through large public rallies or quiet backyard efforts, millions will mark the occasion by reaffirming their commitment to a healthier planet. As the theme “Our Power, Our Planet” underscores, real change begins with informed, engaged citizens working together for clean air, clean water, renewable energy and a sustainable future.

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From its dramatic origins in response to visible pollution crises to its current role as a global platform for hope and action, Earth Day remains one of the most enduring and influential civic observances. On April 22, 2026, and throughout Earth Week, people everywhere have the opportunity to turn awareness into meaningful steps that protect the only home humanity has.

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Mobile Signal Rationing Looms as UK Telecoms Face Soaring Energy Bills

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Mobile Signal Rationing Looms as UK Telecoms Face Soaring Energy Bills

Britain’s biggest mobile network operators have warned ministers they may be forced to ration access to phone signals and introduce surge pricing at peak times, as the war in Iran sends wholesale energy costs spiralling and Whitehall shuts the sector out of its flagship industrial support package.

In a pointed intervention to Government, VodafoneThree, Virgin Media O2 and BT-owned EE have confirmed they are drawing up emergency contingency plans to manage ballooning electricity bills, after being pointedly omitted from the Chancellor’s British Industrial Competitiveness Scheme (BICS).

Among the measures being modelled behind closed doors are the throttling of data speeds, restricting access during periods of high demand, and charging customers a premium at peak times, a move that would mark a significant departure from the all-you-can-eat tariffs that have dominated the British mobile market for more than a decade.

Voice calls and mobile data are expected to bear the brunt of any rationing, though fixed-line broadband services could also be affected. Senior industry figures have further cautioned that relentless cost pressures could see 5G rollout plans shelved, with jobs either cut outright or shifted overseas.

Frustration is running deep in the industry following Rachel Reeves’s announcement last week that 10,000 manufacturers would see their electricity bills cut by up to 25 per cent under BICS. Although the measures are not due to take effect until April 2027, telecoms bosses argue that their sector, classed as critical national infrastructure, has an equally compelling case for state intervention.

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“It’s a serious oversight,” one industry source told Business Matters. “It raises real questions about which parts of the economy this Government actually considers strategically important.”

The sums involved are far from trivial. Britain’s mobile networks consume just under one terawatt-hour of electricity annually, enough to power 370,000 homes. While operators routinely hedge their exposure to the wholesale market, prices have still climbed by 70 per cent in recent years, first on the back of Russia’s invasion of Ukraine and more recently following the closure of the Strait of Hormuz, the vital shipping lane that carries roughly a fifth of global oil and gas trade.

With UK electricity pricing still tethered to the gas market, the 33 per cent jump in gas prices since the outbreak of hostilities with Iran has fed directly through to operator cost bases. Unlike steelmakers or chemical plants, executives argue, mobile networks cannot simply shift demand to cheaper overnight hours. The “always on” nature of the infrastructure leaves them structurally exposed.

Any move to ration signal, understood to represent a worst-case scenario, would prove politically toxic in a country where consumers are already exasperated by patchy coverage. The UK currently props up the G7 table for 5G download speeds, and the broader economic stakes are considerable: digital connectivity is estimated to contribute £6.6bn annually to UK output.

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The warning lands at an awkward moment for the Chancellor, who is already fielding criticism from manufacturing bodies that BICS is both too modest and too slow to arrive to stem further job losses.

A spokesman for Virgin Media O2 said: “Mobile and broadband networks are critical national infrastructure that almost every consumer and business relies on, yet despite their importance, telecoms companies have been excluded from support offered to other energy-intensive sectors. If the Government wants growth, productivity and resilience, it cannot overlook the digital networks the country depends on.”

VodafoneThree struck a similar note, with a spokesman adding: “We are disappointed that the Government has chosen not to include the telecoms sector in the British Industrial Competitiveness Scheme. At VodafoneThree we are committed to building the UK’s best network, creating jobs and fuelling billions of pounds of value to the UK economy. We urge the Government to consider the impact of rising energy prices on the vital telecoms sector that unlocks growth in all parts of the economy.”

For SMEs already grappling with patchy rural coverage and rising operating costs, the prospect of peak-time surcharges or throttled data could represent yet another headwind, and another reason to question whether Britain’s industrial strategy is keeping pace with the realities on the ground.

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Jamie Young

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

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Three ways the latest inflation figures affect you

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Three ways the latest inflation figures affect you

How high could inflation get? And what could it mean for borrowers and savers around the country?

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Stocks Shook Off The March Dip: Now Q1 Earnings And April Data Take Center Stage

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Stocks Shook Off The March Dip: Now Q1 Earnings And April Data Take Center Stage

Wall Street Horizon provides institutional traders and investors with the most accurate and comprehensive forward-looking event data including earnings calendars, dividend dates, option expiration dates, splits, investor conferences and more. Covering 9,500 companies worldwide, we offer more than 40 corporate event types via a range of delivery options. By keeping clients apprised of critical market-moving events and event revisions, our data empowers financial professionals to take advantage of or avoid the ensuing volatility.

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Northern Ireland energy prices 'could stay high into winter'

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Northern Ireland energy prices 'could stay high into winter'

NI Affairs Committee told even if conflict ends immediately it will take time for supply chains to return to normal.

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Four arrested in Serious Fraud Office probe into firms delivering home insulation contracts

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SFO appeals for information on firms in West Midlands, Sheffield and Hampshire

A sign for the Serious Fraud Office

The investigation is being carried out by by the Serious Fraud Office

Four people have been arrested in connection with a Serious Fraud Office investigation into companies delivering government energy efficiency contracts.

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The Serious Fraud Office (SFO) has launched a public appeal and searched six sites across the UK as it announced a new investigation into three companies delivering Energy Company Obligation 4 (ECO4) contracts.

It is appealing for information on Cannock-based Warmfront, Sheffield-based JJ Crump, and Fareham-based South Coast Insulation Services in connection with ECO4 projects – a government energy efficiency scheme designed to tackle fuel poverty and help reduce carbon emissions – between 2022 and 2024.

The SFO said it understood that Warmfront was sold in 2024 and now trades under new management not connected to the investigation.

The investigation followed allegations that the three companies were involved in a “sophisticated conspiracy” by submitting claims where “little or no work was undertaken”.

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It was suspected that energy companies were defrauded of at least £44 million in this way, the SFO said.

A UK-wide operation involving the SFO and the National Crime Agency resulted in investigators arresting four people on suspicion of conspiracy to defraud following searches of four homes in Cannock, Wolverhampton, Chilworth and Southwell and two commercial sites at Cannock and Killamarsh.

The SFO appealed to members of the public who had any information or had witnessed anything concerning to contact it in confidence by email at confidential@sfo.gov.uk.

SFO director Graham McNulty said: “This scheme was designed to reduce carbon emissions, help households cut costs and stay warm – instead, in many cases, we suspect little or no work was done.

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“We are particularly keen to hear from installers and assessors who worked on these contracts and know what really happened.

“Our door is open, and coming forward is the right thing to do.”

Solicitor General Ellie Reeves said: “This scheme was meant to tackle fuel poverty and improve people’s homes.

“Instead, the Serious Fraud Office is investigating claims £44 million in public money was paid to companies that allegedly did little more than submit false invoices for work they failed to carry out.

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“I am sickened by those who want to profit off the back of a scheme designed to help vulnerable people, and I’m confident the SFO’s investigation into allegations of substantial fraud will deliver the answers victims and the public deserve.”

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Amy’s Kitchen names new CEO

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Amy’s Kitchen names new CEO

Paul Schiefer had been the company’s president since 2023.

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Morgan Stanley reiterates ‘Overweight’ rating on TCS, sees 10% upside potential

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Morgan Stanley reiterates ‘Overweight’ rating on TCS, sees 10% upside potential
Tata Consultancy Services has been drawing renewed attention after Morgan Stanley reiterated its “Overweight” rating, maintaining an “In-line” industry view and setting a price target of Rs 2,880, implying about 10% upside from current levels.

TCS shares were trading nearly 2% lower at Rs 2,569 during Wednesday’s session, reflecting short-term market pressure even as longer-term sentiment improves.

Morgan Stanley’s thesis hinges on a potential recovery in revenue growth and valuation re-rating, suggesting that recent underperformance may be nearing an inflection point. The brokerage sees improving fundamentals positioning TCS to outperform peers as growth stabilizes.

The brokerage expects the stock to outperform the broader market index over the next 60 days.

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It also forecasts around 4% revenue growth in FY27, which would be comparable to or better than many large-cap peers. After lagging in FY26, TCS’s weaker growth is already reflected in its valuation, with its P/E multiple trading at a notable discount to peers. Morgan Stanley anticipates this gap will begin to close, particularly as early large-cap earnings suggest TCS may be better positioned on FY27 growth expectations.


Currently, TCS trades at about a 19% discount to peers such as HCLTech, a gap the brokerage expects to narrow in the coming quarters.
Overall, the firm assigns a probability of over 80% to this scenario, indicating a high level of confidence, though it notes that such estimates are subjective and based on its internal assessment.On the technical side, data from Trendlyne shows the 14-day RSI for Tata Consultancy Services at 58.4. Typically, an RSI below 30 signals an oversold condition, while a reading above 70 indicates the stock may be overbought.

In terms of moving averages, the trend appears slightly bearish, with TCS trading below five of its eight simple moving averages (SMAs). The stock is currently holding above only its 10-day, 20-day, and 30-day SMAs.

Looking at the shareholding pattern for the March 2026 quarter, foreign institutional investors (FIIs) have trimmed their stake from 10.37% to 9.66%. In contrast, mutual funds have raised their holdings from 5.52% to 5.77%. Promoter ownership remains steady at 71.77% during the same period.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

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