Britain's Nuclear Deterrent Missile System Misfires during Test

Crew from HMS Vengeance, a British Royal Navy Vanguard class Trident Ballistic Missile Submarine, stand on their vessel as they return along the Clyde river to the Faslane naval base near Glasgow, Scotland December 4, 2006. REUTERS/David Moir/File Photo
Crew from HMS Vengeance, a British Royal Navy Vanguard class Trident Ballistic Missile Submarine, stand on their vessel as they return along the Clyde river to the Faslane naval base near Glasgow, Scotland December 4, 2006. REUTERS/David Moir/File Photo
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Britain's Nuclear Deterrent Missile System Misfires during Test

Crew from HMS Vengeance, a British Royal Navy Vanguard class Trident Ballistic Missile Submarine, stand on their vessel as they return along the Clyde river to the Faslane naval base near Glasgow, Scotland December 4, 2006. REUTERS/David Moir/File Photo
Crew from HMS Vengeance, a British Royal Navy Vanguard class Trident Ballistic Missile Submarine, stand on their vessel as they return along the Clyde river to the Faslane naval base near Glasgow, Scotland December 4, 2006. REUTERS/David Moir/File Photo

Britain's Trident nuclear deterrent system misfired during a test last month, when a missile crashed into the ocean off the Florida coast near the submarine that launched it, The Sun newspaper reported on Wednesday.
The Sun said the first-stage boosters on the missile, which was equipped with dummy warheads, did not ignite during the Jan. 30 test, Reuters said.
The Ministry of Defense said an anomaly occurred during the test but that the failure had no implications for the wider system.
"As a matter of national security, we cannot provide further information on this, however we are confident that the anomaly was event specific, and therefore there are no implications for the reliability of the wider Trident missile systems and stockpile," the MoD statement said.
"The UK's nuclear deterrent remains safe, secure and effective," it added.
The failures of the Trident tests are likely to exacerbate concerns over the readiness of Britain's navy in the event it is drawn into a full blown conflict.
Britain's nuclear deterrent is provided by a fleet of four nuclear-powered submarines which are equipped with the Trident ballistic missile system, manufactured by Lockheed Martin.
According to the Royal Navy website, there has always been a British ballistic missile submarine at sea since 1969, and that "a credible nuclear deterrent depends on the ability to threaten an assured and effective response to aggression."
The nuclear deterrent system costs around 3 billion pounds ($3.79 billion) per year to operate - equivalent to roughly 6% of the UK's overall defense budget. Parliament voted in 2016 to approve building a new class of submarines, due to enter service in the 2030s, at a cost last estimated at 31 billion pounds.
A previous test of the system in 2016 also ended in failure when the missile was reported to have veered off course.
Earlier this month, the MoD's Royal Navy warfare force had to withdraw its HMS Queen Elizabeth aircraft carrier from the largest NATO exercise since the Cold War after routine checks identified an issue with a coupling on the carrier's starboard propeller shaft.



Trump Reports More Than $600 Million in Income from Crypto, Golf, Licensing Fees

A US flag flutters in front of a banner depicting US President Donald Trump on the day of a military parade to commemorate the US Army's 250th Birthday in Washington, D.C., US, June 14, 2025. REUTERS/Nathan Howard
A US flag flutters in front of a banner depicting US President Donald Trump on the day of a military parade to commemorate the US Army's 250th Birthday in Washington, D.C., US, June 14, 2025. REUTERS/Nathan Howard
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Trump Reports More Than $600 Million in Income from Crypto, Golf, Licensing Fees

A US flag flutters in front of a banner depicting US President Donald Trump on the day of a military parade to commemorate the US Army's 250th Birthday in Washington, D.C., US, June 14, 2025. REUTERS/Nathan Howard
A US flag flutters in front of a banner depicting US President Donald Trump on the day of a military parade to commemorate the US Army's 250th Birthday in Washington, D.C., US, June 14, 2025. REUTERS/Nathan Howard

Donald Trump reported more than $600 million in income from crypto, golf clubs, licensing and other ventures in a public financial disclosure report released on Friday that provided a glimpse of the vast business holdings of America’s billionaire president.

The annual financial disclosure form, which appeared to cover the 2024 calendar year, shows the president's push into crypto added substantially to his wealth but he also reported large fees from developments and revenues from his other businesses. Overall, the president reported assets worth at least $1.6 billion, a Reuters calculation shows.

While Trump has said he has put his businesses into a trust managed by his children, the disclosures show how income from those sources still ultimately accrue to the president - something that has opened him to accusations of conflicts of interest.

Some of his businesses in areas such as crypto, for example, benefit from US policy shifts under him and have become a source of criticism.

“President Trump, Vice President Vance, and senior White House staff have completed required ethics briefings and financial reporting obligations," White House press secretary Karoline Leavitt said in an emailed statement to Reuters.

"The Trump Administration is committed to transparency and accessibility for the American people."

The financial disclosure was signed on June 13 and did not state the time period it covered. The details of the cryptocurrency listings, as well as other information in the disclosure, suggest it was through the end of December 2024, which would exclude most of the money raised by the family's cryptocurrency ventures.

Given the speed at which the Trump family has made deals during his ascent to the presidency, the filing is already a time capsule of sorts, capturing a period when the family was just starting to get into crypto but was largely still in the world of real estate deals and golf clubs. A meme coin released earlier this year by the president - $TRUMP - alone has earned an estimated $320 million in fees, although it’s not publicly known how that amount has been divided between a Trump-controlled entity and its partners. In addition to the meme coin fees, the Trump family has raked in more than $400 million from World Liberty Financial, a decentralized finance company. The Trump family is involved, also, with a bitcoin mining operation and digital asset exchange-traded funds.

In the disclosures, Trump reported $57.35 million from token sales at World Liberty. He also reported holding 15.75 billion governance tokens in the venture.

TRUMP MEDIA

The wealth of the Republican businessman-turned-politician ranges from crypto to real estate, and a large part on paper is tied up in his stake in Trump Media & Technology Group, owner of social media platform Truth Social.

Besides assets and revenues from his business ventures, the president reported at least $12 million in income, including through interest and dividends, from passive investments totaling at least $211 million, a Reuters calculation shows.

His biggest investments were in alternative fund manager Blue Owl Capital Corp and in government bond funds managed by Charles Schwab and Invesco.
The disclosure often only gave ranges for the value of his assets and income; Reuters used the lower amount listed, meaning the total value of his assets and income was almost certainly higher.

The disclosure showed income from various assets including Trump's properties in Florida. Trump's three golf-focused resorts in the state - Jupiter, Doral and West Palm Beach - plus his nearby private members' club at Mar-a-Lago generated at least $217.7 million in income, according to the filing. Trump National Doral, the expansive Miami-area golf hub known for its Blue Monster course, was the family's single largest income source at $110.4 million. The income figures provided are essentially revenues, not net profits after subtracting costs.

The disclosure underlined the global nature of the Trump family business, listing income of $5 million in license fees from a development in Vietnam, $10 million in development fees from a project in India and almost $16 million in licensing fees for a Dubai project.

Trump collected royalty money, also, from a variety of deals - $1.3 million from the Greenwood Bible (its website describes it as "the only Bible officially endorsed by Lee Greenwood and President Trump"); $2.8 million from Trump Watches, and $2.5 million from Trump Sneakers and Fragrances.

Trump listed $1.16 million in income from his NFTs - digital trading cards in his likeness - while First Lady Melania Trump earned around $216,700 from license fees on her own NFT collection.