US President Donald Trump has been criticised for launching a meme-coin while saying he “doesn’t know much” about the cryptocurrency.

The digital coin called TRUMP appeared on his social media accounts ahead of his inauguration on Monday and quickly became one of the most valuable crypto coins. The value of a single coin shot up to $75 within a day, but since has fallen to $39.

But the launch of the so-called meme-coin – a cryptocurrency with no utility other than for fun or speculation – has been widely criticised by industry insiders.

“Trump’s comments about not knowing much about the coin back up my opinion that he is making a mockery of the industry. It’s a stunt,” says Danny Scott, CEO of CoinCorner.

The latest dip in value came after Trump told reporters: “I don’t know much about it other than I launched it, other than it was very successful.”

When he was told his coin raised several billion dollars for him, he played it down saying “several billion – that’s peanuts for these guys” pointing to tech billionaires assembled for a press conference about AI.

It’s not the first time Trump has sold crypto products. He made millions from launching a series of NFTs of him in various superhero poses in 2022.

Some industry analysts say the president having his own meme coin is a sign that others should follow as a way to make money from supporters.

“TRUMP token just signaled to every company, municipality, university & individual brand that crypto can now be used as a capital formation and customer bootstrapping mechanism,” Jeff Dorman from investing firm Arca posted online.

However, the overall sentiment seems to be negative towards the president’s meme coin.

Many in the crypto world are waiting for Trump to back up campaign promises to help boost the industry in the US. People like Danny Scott hope to see focused plans, particularly around Bitcoin, from the administration.

Last year Trump promised Bitcoin fans he would make the US the “crypto capital of the planet”. A few days into his term, the president has not issued executive orders involving cryptocurrency, nor has he mentioned it in his speeches.

TRUMP coin is now the 25th most valuable crypto coin with a value of around $8 billion, according to the website CoinMarketCap.

Trump and the team behind it own 80% of the coins so, in theory, they would make billions of dollars if they sold their shares and the price remained the same.

This set-up has been described by crypto researchers at K33 as outdated for similar tokens.

“There’s no sugar-coating this – these tokenomics are horrendous for a meme-coin,” said David Zimmerman, a K33 analyst.

However, K33 analysts acknowledge that the remaining 80% of coins can’t be dumped on the open market so investors are partially shielded from price shocks.

There are thousands of cryptocurrency coins and anyone can create one.

First Lady Melania Trump launched her own meme-coin on the eve of the inauguration, which now has a value of $700m since slumping from $13 a coin to $2.70.

Meme-coins are often launched for fun and used by speculators to make money or to allow fans to show support to a celebrity or moment in internet culture.

But many have led to big losses for people investing in them.

Dan Hughes, from crypto firm Radix, thinks the president and his wife launching their meme-coins undermines the positives of the industry.

“This pattern of celebrity-driven token launches, particularly from political figures, potentially marks a concerning trend in crypto markets where influence and liquidity manipulation could overshadow fundamental value creation,” he said.

Others in the cryptocurrency world think that launching meme-coins to make money is degrading.

“The introduction of these coins during the presidential inauguration raises concerns about potential conflicts of interest and may undermine the dignity of the president and the first lady,” said Grzegorz Drozdz, market analyst at investment firm Conotoxia.

Southport triple murderer Axel Rudakubana has been jailed for life with a minimum term of 52 years.

Warning: This article contains details of violence that some readers might find distressing.

The 18-year-old pleaded guilty to the murders of Alice da Silva Aguiar, nine, Bebe King, six, and Elsie Dot Stancombe, seven, at a Taylor Swift-themed holiday club on the first day of his trial on Monday.

Southport murders latest – Killer likely to never be freed

He also admitted attempting to murder eight other children, aged between seven and 13, along with class instructor Leanne Lucas and businessman John Hayes at the Hart Space in the Merseyside town on 29 July last year.

He was sentenced at Liverpool Crown Court, but was not present for the judge’s remarks after telling his lawyer he would be “disruptive” during proceedings.

During sentencing earlier in the day he was twice ordered out of the dock after shouting that he “felt ill”.

Rudakubana told his lawyer he had chest pains, was too ill to continue and wanted to see a paramedic, but the judge said two paramedics had deemed him fit to continue.

Rudakubana was 17 when he walked into the dance studio before silently, indiscriminately stabbing his victims with a kitchen knife – a 20cm blade he had earlier bought on Amazon using encrypted software to hide his identity.

He stabbed some of his victims in the back as they tried to escape, pulling one girl back inside to attack her.

Rudakubana was arrested at the scene and while in custody was heard to say he was glad that the children were dead and that he was pleased by what he had achieved.

Police found a plastic kitchen box containing ricin under his bed in a search of his home in the village of Banks, Lancashire, along with other weapons including a machete and arrows.

An analysis of his devices revealed an obsession with violence, war and genocide, with documents discovered including an academic study of an al Qaeda training manual.

Police believe he used techniques he learned from the PDF file, which contained instructions on how to commit knife and ricin attacks, to carry out the mass stabbing.

Rudakubana has pleaded guilty to charges of producing ricin and possession of information useful for the purposes of terrorism.

But Merseyside Police Chief Constable Serena Kennedy said there was no evidence he ascribed to any political or religious ideology and was not fighting for a cause, so the “cowardly and vicious attack” was not treated as terrorism.

“This is a young man with an unhealthy obsession with violence,” she said.

“His only purpose was to kill the youngest and most vulnerable and spread the greatest level of fear and outrage, which he succeeded in doing.”

The government announced an inquiry into how the state failed to recognise the risk posed by Rudakubana and Prime Minister Sir Keir Starmer has said he will consider changing the definition of terrorism if necessary.

The teenager was referred three times by schools to the government’s anti-extremism programme between 2019 and 2021 over concerns about his interest in school shootings, Libyan dictator Muammar Gaddafi, and the London Bridge attacks.

He also had repeated contact with police, the courts, the justice system and the mental health services in the years before he carried out the attack, including over using school computers to research acts of violence.

Rudakubana was expelled from school for saying he was carrying a knife in October 2019, but returned to attack another pupil with a hockey stick, while carrying a knife in his backpack.

He pleaded guilty to assault, possession of an offensive weapon, and possession of a knife over the incident and received a youth justice referral order focused on knife crime.

His parents called police four times about his behaviour, including on one occasion in May 2022 after they restricted his access to a computer.

On another occasion in March of the same year, a bus driver called the police because he had not paid the fare, and he told officers he had a knife, but they took him home to talk to his mother about securing knives at home.

No disciplinary proceedings have been brought against anyone involved in dealing with his case.

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Drivers have been warned they have just weeks to prepare for significant changes to motoring laws, with electric vehicle owners set to face the biggest impact from April.

The warning comes as a series of new regulations and tax changes will come into force impacting millions of drivers across the UK.

Electric car tax changes will come in for the first time in AprilPA/DVLA

EVs attract a two per cent BiK tax rate PA

Plans to abolish non-dom status will be amended to allow a more generous phase out of tax benefits, Chancellor Rachel Reeves has announced.

Reeves told an audience at the World Economic Forum in Davos that changes would be made to upcoming legislation to increase the generosity of a facility to help non-doms repatriate their funds to the UK.

Non-dom status enables people who live in the UK to avoid paying UK tax on money made abroad because their permanent home for tax purposes is outside the country.

Labour pledged to scrap the status in its election manifesto, saying this would address unfairness in the tax system and raise extra money for public services.

However, critics have raised concerns the changes could prompt wealthy people to leave the UK.

A report published earlier this week by global analytics firm New World Wealth and investment migration advisers Henley & Partners found more than 10,000 millionaires left the UK in 2024, a 157% increase on the previous year.

Analysts cited factors including additional taxes affecting non-doms and other wealthy individuals as well as the growing dominance of the US and Asia in the tech sector and the dwindling importance of the London Stock Exchange.

Reeves told an event hosted by the Wall Street Journal: “We have been listening to the concerns that have been raised by the non-dom community.”

The size of the change to the Temporary Repatriation Facility, a three-year scheme to help ex non-doms bring their assets to the UK at a discounted tax rate, was described as a “tweak” that would not be expected to significantly change the money raised from the overall policy.

Downing Street said the tweaks, which will be made through amendments to the Finance Bill, did not change the government’s overall approach “to replacing the outdated non-dom tax regime”.

The prime minister’s official spokesman said the new system “addresses unfairness in our tax system, attracts the best talent and investment to the UK and ensures that everyone who is a long-term resident of the UK pays their tax here”.

A Treasury spokesperson said the changes were not expected to impact the £33.8bn the policy is expected to raise over the next five years by the government’s independent forecaster.

“The Temporary Repatriation Facility is designed to encourage non-doms to bring their funds to the UK, encouraging them to spend and invest this money here,” the spokesperson added.

However, Nigel Green, chief executive of global financial advisory firm deVere Group, said the announcement had “landed with a thud” among investors and wealthy individuals.

He said the “vague proposal to adjust the rules offers neither the clarity nor the assurances required to reverse the damage already inflicted”.

Conservative shadow chancellor Mel Stride said: “Labour’s Budget is falling apart in front of our eyes.

“At the election Labour said their plans would raise money, now they have been forced to admit their plans make the UK less attractive.

“But the damage is already done – tax revenue equivalent to hundreds of thousands of taxpayers has already been lost.”

Meanwhile, the Scottish National Party accused the chancellor of doing a “Davos deal for millionaires”, saying the government had become “rapidly out of touch”.

The party’s economy spokesman Dave Doogan said Reeves had “a listening ear for millionaires” but was “deaf to the difficulties of those millions still struggling with the cost-of-living crisis”.

Reeves chose to announce the relaxation in Davos as part of a multipronged effort to show willingness to change policy to help economic growth.

On Wednesday she also set out changes to visas to allow top talent in Artificial Intelligence (AI) and medicines research to come to the UK.

Some in industry feel there is an opportunity for the UK to poach top talent in science and pharmaceuticals from the US under the new administration, and in AI from European Union.

A man and a woman have been charged with the murder of their three-month-old son in Merseyside.

Police said a child was found unresponsive at a house on Percy Road, Seacombe, on Sunday 24 November, after officers were called to reports of concern for the infant.

Miguel Pirjani was taken to hospital where injuries to his body were found.

Despite the efforts of medics, he died five days later on 29 November.

Klevi Pirjani, 36, and Nivalda Santos Pirjani, 34, both of Percy Road, Seacombe were initially arrested and charged with causing grievous bodily harm and Section 18 wounding with intent.

They appeared in court facing these charges in December, but have since been charged in custody with murder and causing or allowing the death of a child.

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They have been further remanded in custody and will appear at Liverpool Magistrates’ Court on 27 January.

Former chancellor Kwasi Kwarteng launched a blistering attack on Labour’s plans to reduce prison sentences for women, branding the proposal as “insane”.

In a furious response, Kwarteng insisted “justice should be blind” regardless of gender or background.

READ THE FULL STORY HERE

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Sainsbury’s will cut more than 3,000 jobs and plans to close its remaining in-store cafes as part of a major restructure, the supermarket chain has announced.

The supermarket has said it will shut its remaining 61 in-store cafes as part of a major overhaul.

The closures are part of plans by the UK’s largest supermarket group to save £1 billion over three years.

The majority of Sainsbury’s shoppers do not use the cafes regularly, whereas in-store food halls and concessions have grown in popularity, it said.

It comes almost three years after it shut 200 in-store cafes amid waning demand from shoppers.

The latest round of closures is part of a shake-up which will result in the loss of more than 3,000 jobs.

In 2023 Tesco announced similar plans to close hot counters and delis which impacted approximately 2,100 jobs.

Sainsbury’s Cafes will shut at the following locations:

Fosse Park, Leicestershire

Pontypridd, South Wales

Rustington, West Sussex

Scarborough, North Yorkshire

Penzance, Cornwall

Denton, Greater Manchester

Wrexham, North Wales

Longwater, Norwich, Norfolk

Ely, Cambridgeshire

Pontllanfraith, South Wales

Emersons Green, South Gloucestershire

Nantwich, Cheshire

Pinhoe Road, Exeter, Devon

Pepper Hill – Northfleet, Kent

Marshall Lake, Solihull, West Midlands

Rhyl, North Wales

Lincoln, Lincolnshire

Bridgemead, Swindon, Wiltshire

Larkfield, Aylesford, Kent

Whitchurch Bargates, Shropshire

Sedlescombe Road, Hastings, East Sussex

Barnstaple, Devon

Dewsbury, West Yorkshire

Kings Lynn Hardwick, Norfolk

Truro, Cornwall

Warren Heath, Ipswich, Suffolk

Godalming, Surrey

Hereford, Herefordshire

Chichester, West Sussex

Bognor Regis, West Sussex

Newport, South Wales

Talbot Heath, Dorset

Rugby, Warwickshire

Cannock, Staffordshire

Leek, Staffordshire

Winterstoke Road, Bristol

Hazel Grove, Stockport, Greater Manchester

Morecambe, Lancashire

Darlington, County Durham

Monks Cross, Huntington, North Yorkshire

Marsh Mills, Plymouth, Devon

Springfield, Chelmsford, Essex

Durham, County Durham

Bamber Bridge, Lancashire

Weedon Road, Northampton, East Midlands

Hempstead Valley, Kent

Hedge End, Hampshire

Bury St Edmunds, Suffolk

Thanet Westwood Cross, Kent

Stanway, Colchester, Essex

Castle Point, Essex

Isle of Wight

Keighley, West Yorkshire

Swadlincote, Derbyshire

Leicester North, East Midlands

Wakefield Marsh Way, Wakefield, West Yorkshire

Torquay, Devon

Waterlooville, Hampshire

Macclesfield, Cheshire

Harrogate, North Yorkshire

Cheadle, Greater Manchester

Simon Roberts, Sainsbury’s chief executive, said the supermarket was facing a “particularly challenging cost environment” as it moves forward with its company strategy.

He said: “As we accelerate into year two and beyond of our strategy, we are facing into a particularly challenging cost environment which means we have had to make tough choices about where we can afford to invest and where we need to do things differently to make our business more efficient and effective.

“The decisions we are announcing today are essential to ensure we continue to drive forward our momentum but have also meant some difficult choices impacting our dedicated colleagues in a number of parts of our business.

“We’ll be doing everything we can to support anyone impacted by today’s announcements.”

The top prosecutor at the International Criminal Court (ICC) says he will seek arrest warrants against senior leaders of the Taliban government in Afghanistan over the persecution of women and girls.

Karim Khan said there were reasonable grounds to suspect Supreme Leader Haibatullah Akhundzada and chief justice Abdul Hakim Haqqani bore criminal responsibility for crimes against humanity on gender grounds.

ICC judges will now decide whether to issue an arrest warrant.

The ICC investigates and brings to justice those responsible for genocide, crimes against humanity and war crimes, intervening when national authorities cannot or will not prosecute.

In a statement, Mr Khan said the two men were “criminally responsible for persecuting Afghan girls and women, as well as persons whom the Taliban perceived as not conforming with their ideological expectations of gender identity or expression, and persons whom the Taliban perceived as allies of girls and women”.

Opposition to the Taliban government is “brutally repressed through the commission of crimes including murder, imprisonment, torture, rape and other forms of sexual violence, enforced disappearance, and other inhumane acts”, he added.

The persecution was committed from at least 15 August 2021 until the present day, across Afghanistan, the statement said.

Akhundzada became the supreme commander of the Taliban in 2016, and is now leader of the so-called Islamic Emirate of Afghanistan. In the 1980s, he participated in Islamist groups fighting against the Soviet military campaign in Afghanistan.

Haqqani was a close associate of Taliban founder Mullah Omar and served as a negotiator on behalf of the Taliban during discussions with US representatives in 2020.

The Taliban government is yet to comment on the ICC statement.

The Taliban regained power in Afghanistan in 2021, 20 years after a US-led invasion toppled their regime in the fallout of the 9/11 attacks in New York, but its government has not been formally recognised by any other foreign power.

“Morality laws” have since meant women have lost dozens of rights on the country.

Afghanistan is now the only country in the world where women and girls are prevented from accessing secondary and higher education – some one-and-a-half million have been deliberately deprived of schooling.

The Taliban has repeatedly promised they would be re-admitted to school once a number of issues were resolved – including ensuring the curriculum was “Islamic”. This has yet to happen.

Beauty salons have been shut down and women are prevented from entering public parks, gyms and baths.

A dress code means they must be fully covered and strict rules have banned them from travelling without a male chaperone or looking a man in the eye unless they’re related by blood or marriage.

In December, women were also banned from training as midwives and nurses, effectively closing off their last route to further education in the country.