UK inflation stayed stuck at 8.7% in May as prices for recreation and cultural activities rose at a faster pace than the previous month.

Truth Social’s parent company lost almost $23m (£18.7m) in the first half of this year alone, according to a new securities filing that raises concerns about its “ability to continue”. The filing released on Monday marks the first time any financial details about Donald Trump’s social media platform have been shared publicly, according to The Hollywood Reporter. Truth Social was launched in February last year after Mr Trump was banned from most social networks in the aftermath of the 6 January 2021 Capitol riots. The former US president – who announced his candidacy for the 2024 elections in November last year – has since returned to X (formerly known as Twitter), but says Truth Social is still his primary social media platform and that he won’t post anywhere else until six hours after he sends a “Truth”. Having Mr Trump on board has not translated into revenue for the platform’s parent company Trump Media & Technology Group (TMTG), however. Over the first half of 2023 it has lost $23m while bringing in only $2.3m in net sales, the filing showed. This has raised doubts about the viability of the company and its social media startup, according to the filing. “TMTG’s independent registered public accounting firm has indicated that TMTG’s financial condition raises substantial doubt as to its ability to continue as a going concern,” the company noted in the filing. The company said the “management has substantial doubt that TMTG will have sufficient funds to meet its liabilities as they fall due, including liabilities related to promissory notes previously issued by TMTG”. The remarks were made in its assessment of business till the end of December last year and as of 30 June 2023. Concerns have also been raised over Digital World Acquisition Corporation (DWAC), a Special Purpose Acquisition Company (SPAC), that had some years ago announced plans to merge with TMTG. An SPAC is a shell corporation which raises money by listing itself on a stock exchange with the aim of using the funds for a merger with a different and usually more well-known entity. The filing said DWAC has “until 8 September 2024 to consummate a business combination”. It raised concerns that both TMTG and DWAC may not survive unless this merger is completed. “It is uncertain that Digital World will be able to consummate a business combination by this time. If a business combination is not consummated by this date, there will be a mandatory liquidation and subsequent dissolution of Digital World,” the filing said. “TMTG believes that it may be difficult to raise additional funds through traditional financing sources in the absence of material progress toward completing its merger with Digital World,” the filing further said. “A number of companies that had licence agreements with President Trump have failed. There can be no assurances that TMTG will not also fail,” the filing said. TMTG also cited a number of risks to its business in the new filing, including a dedicated section titled “Risks related to our chairman, president Donald J Trump”. The section lists his ongoing legal hurdles. “TMTG’s success depends in part on the popularity of its brand and the reputation and popularity of its chairman, president Donald J Trump,” the filing said. “The value of TMTG’s brand may diminish if the popularity of President Trump were to suffer. Adverse reactions to publicity relating to President Trump, or the loss of his services, could adversely affect TMTG’s revenues, results of operations and its ability to maintain or generate a consumer base.” Read More Return of original Fortnite map causes record traffic on Virgin Media O2 network Elon Musk unveils new sarcasm-loving AI chatbot for premium X subscribers Elon Musk mocks politicians at AI summit Tesla to offer ‘beast mode’ version of Cybertruck with bulletproof panels X now valued at $19bn – less than half of what Elon Musk paid for it Solar panel world record smashed with ‘miracle material’

Real Madrid says midfielder Eduardo Camavinga has torn a ligament in his right knee while practicing with the French national team

At least four people have been killed in a Russian rocket attack on the western city of Lviv in Ukraine, officials said. Mayor Andriy Sadovy said three people have been killed in the attack and others injured, and that around 60 apartments and 50 cars in the area of the strike were damaged. Emergency service workers are searching in the debris early on Thursday morning for more people trapped. Regional governor Maksym Kozytskiy said in a Telegram post that a critical infrastructure facility had been damaged, without providing further details. Widespread air alerts were sounded across Ukraine earlier today amid reports of cruise missiles entering Ukrainian airspace. Mr Sadovy also reported a series of explosions in his city. This comes as Ukrainian president Volodymyr Zelensky has claimed Russian forces have rigged the roof of several reactors at the Zaporizhzhia nuclear plant with explosives, to make it appear Kyiv has attacked its own facility. Experts from the UN nuclear watchdog based at the plant, Europe’s largest, say they have seen no indications of explosives but that they would need more access to be sure. Read More Suspect in Ukraine detonates explosives at a courthouse, killing himself and wounding 2 officers Zelensky says Russia has planted explosives on Ukraine nuclear plant Ukraine and Russia trade accusations of imminent attack on Europe's largest nuclear plant.

By Rae Wee SINGAPORE Japan's yen hit a one-week low against an insipid dollar on Wednesday as traders

NAIROBI Kenyan police fired tear gas near parliament on Tuesday at hundreds of people protesting a proposed finance

House Republicans have dispensed with Jim Jordan as their nominee for the US speakership and now several more

What sparked the fires is still a mystery, but a mix of wind and dry weather helped the flames spread.

Mercenaries from Russia’s military company Wagner have launched joint drills with the Belarusian military almost a month after their short-lived rebellion

The Tampa Bay Buccaneers and Tennessee Titans desperately need a victory

Russia's military bloggers are reaping the rewards of a growing advertising market on Telegram.

United Airlines Holdings Inc said on Wednesday its Chief Financial Officer Gerry Laderman had announced plans to retire