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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

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Six years after leaving Britain in what they privately called their “Freedom Flight,” Prince Harry and Meghan Markle are preparing to return this fall for an extended stay, a reversal that sources close to the couple say was driven as much by Harry’s persistent homesickness as by King Charles III’s hopes of reconciling with his estranged family.

As People exclusively reported Aug. 19, the Duke and Duchess of Sussex are relocating to Britain for an extended period with Prince Archie, 7, and Princess Lilibet, 5, who are enrolled in school there beginning in September. The family, expected to arrive in late August, plans to establish a private, nonroyal home base believed to be outside London, though they have not yet purchased property, while retaining their Montecito, California, residence. “Step by step, they want to be in the U.K.,” a source close to Harry told People. “They want to have the time and give the kids the opportunity to be here.”

The reversal marks a striking shift from Harry’s own comments just over a year ago. In a May 2025 interview with the BBC, Harry appeared to rule out any return. “I can’t see a world in which I would bring my wife and children back to the U.K. at this point,” he said at the time. Now 41, Harry is doing exactly that alongside Meghan, 45.

Sources described the move as having been in the works for roughly a year, with the timing increasingly making sense as Archie and Lilibet reached school age. “It’s something Harry has been thinking about for a while,” a source close to the duke said. Earlier signs of that pull toward Britain had surfaced publicly; at the WellChild Awards last September, Harry questioned British singer Joss Stone about her family’s own return to Britain after years living in Tennessee. “He asked about how we were settling back in and was genuinely interested in our move home,” Stone said at the time. “He was saying how wonderful the schools are here and how important community is for children.”

Beneath the practical considerations, sources described something more personal driving Harry’s desire to return. Despite building a life in Montecito, sources in California said Harry never fully found his footing there, struggling to establish a close social circle of his own. “Harry never really stopped missing home. He’s missed that sense of connection and belonging. Britain is still home in many ways,” a source close to the couple said. Another source emphasized that the decision was reached collectively. “Taken as a family,” the source said.

For Meghan, the appeal centers significantly on what Britain offers the couple’s children. “Meghan feels very fortunate that they’re able to give Archie and Lilibet the opportunity to experience both worlds,” a Montecito insider said. The family’s summer visit offered an early glimpse of that vision, with the children reuniting with King Charles at Highgrove in July before spending time at Althorp, the childhood home and final resting place of Princess Diana, alongside Harry’s uncle Charles Spencer and other relatives from Diana’s side of the family. “He wants them to understand the world he grew up in and where their family comes from,” a source said of Harry’s motivations.

Sources stressed the move is not intended to be permanent. The couple’s $14 million Montecito estate remains their home, they are keeping a vacation property in Portugal, and their broader plans remain fluid. “It’s not necessarily a forever thing,” one source said. The U.S. political climate has also factored into the family’s thinking, according to sources, who said Harry and Meghan have made no secret of their disillusionment with the current administration.

Harry returns to Britain with significant unresolved battles still ahead. After losing automatic taxpayer-funded police protection in 2020, he has repeatedly said he could not safely bring Meghan and their children to Britain without it; private security in the U.K., unlike in the U.S., cannot legally carry firearms. A source said Harry intends to “continue fighting for that,” though insiders cautioned the security question could ultimately influence how long the family ultimately stays. His legal battles with the British press remain active as well; on Aug. 21, Harry, Elton John and five others were ordered to pay approximately $13 million toward the Daily Mail publisher’s legal costs after losing a privacy case, with the group potentially facing costs up to $47 million as they consider an appeal.

Meghan’s return also coincides with a significant potential professional reversal. Asked in 2022 whether she might return to acting, she appeared to close the door firmly. “I’m done,” she said at the time. “I guess never say never, but my intention is to absolutely not.” Four years later, she is now in early talks for a role in the third season of Guy Ritchie’s Netflix series “The Gentlemen,” which films in the UK. Sources told People that despite earlier reports the deal had fallen through, conversations remain ongoing, though nothing has been finalized.

Queen Elizabeth’s former press secretary, Alisa Anderson, cautioned that the couple should not expect an easy reentry into British public life. “I don’t think they will be welcomed back with open arms,” Anderson said. “They will have to rebuild that trust and affection — with the family and the public.” A source close to Meghan voiced similar concern given her history with intense UK media scrutiny, which she has previously said contributed to suicidal thoughts during her time as a working royal. “My biggest concern is the level of media attention she’ll face in the U.K.,” the source said. “I’m worried for her.” An ally countered that circumstances have changed. “She has been vocal about how she felt about it before, but that doesn’t mean things are going to be exactly the same again,” the ally said. “It doesn’t mean it can’t be different and can’t change.”

No family member may have more riding on the return than King Charles, 77, who remains in cancer treatment. His relationship with Harry has quietly improved in recent months, culminating in a private July reunion at Highgrove, where he saw Archie and Lilibet in person for the first time in more than four years. “That was a real positive,” an ally said. A source close to the royal household added, “The King would love to have Harry around.” Recalling a moment from Harry’s memoir “Spare,” in which Charles pleaded with his sons following Prince Philip’s 2021 funeral not to “make my final years a misery,” a source said the king continues to hope his sons might eventually reconcile. “He will want to see his sons together over time,” the source said. “This is the best opportunity we have seen in recent years.”

Still, the relationship between father and son remains complicated; Charles reportedly learned of Harry and Meghan’s plans only days before they became public. William presents an even steeper obstacle. Sources said the brothers remain in “no contact,” and William and Catherine, who were together with the king and other royals at Balmoral when news of the Sussexes’ return broke, made no public acknowledgment of the announcement. A palace insider said the Wales family’s focus remains squarely on their own responsibilities. “They have been dutiful, doing what they do well and keeping the family together,” the source said. “Anything else, from their point of view, isn’t critical.”

What will change dramatically, sources noted, is simple proximity. Since 2020, an ocean has made it relatively easy for the two branches of the family to avoid one another. With Harry, Meghan and their children now based in Britain, that distance disappears. “It’s going to be very hard for the family to ignore their presence — the kids, especially,” a California-based source said. Another source suggested the same dynamic could apply to Meghan and Catherine specifically. “There are bound to be moments where their worlds overlap,” the source said, “and everyone will be watching how those encounters unfold.”

Whether that renewed proximity translates into genuine reconciliation remains uncertain, with neither side having offered the apology sources say the other believes is owed. But for Charles, having both sons and all five of his grandchildren in the same country for the first time in years changes the underlying equation, even if it is ultimately up to his sons whether to seize the opportunity. “In time,” one source said, “there is a chance it will all heal.”

WASHINGTON — The Trump administration has paused all immigrant visa applications worldwide, a State Department official confirmed Tuesday, as the agency launches a global training initiative it says is aimed at ensuring consular officers can more thoroughly screen applicants who might rely on U.S. public assistance.

The State Department launched the initiative at all embassies and consulates in early August, according to the official, and visa appointments have had to be adjusted to accommodate what the agency described as “in-depth training.” The department said it has been working on updated guidance and training since earlier this year “to ensure all consular officers are fully equipped to evaluate every visa applicant comprehensively and consistently.”

The Financial Times reported that applicants who already had interviews scheduled at U.S. embassies and consulates received emails informing them their appointments had been canceled, with the department saying it would notify them of a new date and time. As of this report, the State Department has not provided a timeline for when the training will conclude or when normal appointment scheduling will resume.

Agency officials have framed the pause as a measure to ensure incoming immigrants will not end up relying on U.S. public benefits. But the move fits within a broader pattern of strategies the Trump administration has pursued to restrict both lawful and undocumented immigration, creating what critics describe as an increasingly selective process governing who is able to enter the country’s legal immigration system.

The pause on visa appointments comes just days after a separate immigration restriction suffered a significant legal setback. U.S. District Judge Jeannette Vargas of the Southern District of New York struck down a Trump administration policy that had suspended the issuance of immigrant visas to applicants from 75 countries, ruling that the policy exceeded Secretary of State Marco Rubio’s statutory authority. That earlier policy, which took effect Jan. 21, had targeted applicants from Latin American countries including Brazil, Colombia and Uruguay; Balkan nations such as Bosnia and Albania; South Asian countries Pakistan and Bangladesh; and numerous nations across Africa, the Middle East and the Caribbean, citing concerns that migrants from those countries were drawing on U.S. welfare benefits at what the department described as “unacceptable rates.”

Joanna Cuevas Ingram, senior staff attorney at the National Immigration Law Center, celebrated that court ruling in a statement issued last week. “The court made clear that immigration laws cannot be used to justify discrimination,” Cuevas Ingram said. “We are determined to ensure every person and family this ban harmed receives appropriate relief and will continue to hold this administration accountable to its obligations under the law.”

This week’s newly announced worldwide pause arrives alongside a separate, even broader immigration action. The Trump administration also announced plans this week to revoke visas from asylum seekers who had originally entered the United States on tourism or business visas before subsequently applying for asylum. Officials estimate that as many as 200,000 people currently seeking asylum could be affected by that action, which is being coordinated with the Department of Homeland Security and would mark what officials describe as the largest mass revocation of visas in U.S. history.

Under the Trump administration, visa applicants across multiple categories have faced a growing range of new restrictions, including expanded review of applicants’ social media histories and increased processing costs, according to the Associated Press. Those measures have compounded over the course of the administration’s second term, building on earlier actions including a February directive from a federal judge that overturned Trump’s attempt to suspend the U.S. refugee resettlement system entirely, and continued authorization for federal agents to block asylum seekers from entering the country at the border, a practice human rights advocates say undermines established international asylum law.

Immigration law experts have warned that the newly announced worldwide pause will create immediate, practical hardship for applicants who have already invested significant time and money navigating an already demanding legal immigration process. Brian Simmons, an attorney at immigration law firm Fragomen in Washington, described the burden many affected applicants are likely now facing. Many of those impacted by the pause likely “spent thousands of dollars and disrupted their lives to attend scheduled interviews, only to have their appointments cancelled at the last minute,” Simmons told the Financial Times, adding that it remains unclear when those canceled appointments will ultimately be rescheduled.

Rights groups have broadly condemned the Trump administration’s overall approach to immigration enforcement during its second term, characterizing the cumulative effect of these various restrictions as discriminatory and, in some cases, in violation of due process protections. Advocates have specifically raised concerns about the environment the crackdown has created for ethnic minorities in the United States, some of whom have reported experiencing racial profiling amid the broader enforcement push.

Notably, while Trump campaigned in 2024 on a platform centered primarily around curbing illegal immigration, his administration has simultaneously introduced a range of measures that have made legal immigration meaningfully more difficult as well, including imposing new and substantially higher fees for applicants pursuing certain categories of work visas.

The State Department has not disclosed specific details regarding the length or curriculum of the newly launched consular officer training initiative beyond describing its general purpose of improving how officers screen for applicants deemed likely to become dependent on U.S. public benefits. With no confirmed timeline yet available for when standard visa appointment scheduling will resume, immigration attorneys and advocacy organizations are likely to continue closely monitoring the situation in the coming weeks, both to track how long the pause ultimately lasts and to assess how it interacts with the administration’s other ongoing immigration restrictions, including the broader asylum visa revocation effort and the continued legal fallout from last week’s court ruling striking down the earlier 75-country visa suspension policy.

Shares of Physicswallah sharply surged around 5% on Wednesday morning after nearly 4.67 crore shares of the edtech platform worth around Rs 550 crore changed hands in a block deal.

The shares were traded at Rs 117.72 per share as part of the block deal, marking around a 3% discount to the stock’s previous closing price of Rs 121 apiece. The stock sharply surged to Rs 126.98 apiece after the block deal.

This comes after Physicswallah shares sharply recovered around 63% in less than six months since hitting a record low of Rs 77.72 apiece in March this year. The buyers and sellers in Physicswallah’s block deal could not be ascertained.

Physicswallah share price

Physicswallah shares had made a strong market debut in November last year, listing at a 33% premium over IPO price at Rs 145 apiece on NSE. The stock then gained around 12% to hit a record high of Rs 161.99 apiece in the same month, before beginning to sharply decline.
The stock tumbled over 52% in less than four months to hit a record low of Rs 77.72 apiece in March this year. The shares of the edtech platform have, however, recovered 63% since then.

Also read | Physicswallah is ‘class’ apart, says DAM Capital after initiating with Buy rating. 3 reasons why

What lies ahead for Physicswallah shares?

Physicswallah reported improved financial performance for the first quarter of FY27 earlier this month. Its consolidated net loss narrowed to Rs 88.3 crore in Q1FY27, compared with a loss of Rs 127 crore in the same period last year. Revenue from operations rose 24% year-on-year to Rs 1,054 crore from Rs 847 crore, driven primarily by strong growth in its online business.JM Financial described the Q1 performance as “decent”, noting that consolidated revenue grew 24% YoY despite the NEET-related revenue shift. It highlighted the 33.2% YoY growth in the online business and improving monetisation and profitability.

JM Financial upgraded PhysicsWallah to ‘Buy’, retaining its target price of Rs 140 apiece. This implies more than 15% upside potential from the stock’s previous closing price.

Also read | PhysicsWallah shares rally 8% after Q1 loss narrows, revenue rises 24% YoY. Should you buy?

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

The Hy-Tech Engineers IPO has entered its third day of bidding, with investor interest remaining robust. The grey market premium (GMP) is currently signalling a potential 57% premium over the issue price, reflecting strong bullish sentiment ahead of the company’s stock market debut.

By the end of Day 2, the issue was subscribed 19.33 times. Retail investors emerged as the biggest participants, with their portion subscribed 27.26 times against 92.01 lakh shares on offer.

The Rs 135.73 crore IPO comprises a fresh issue of 1.13 crore shares worth Rs 60 crore and an offer for sale (OFS) of 1.43 crore shares valued at Rs 75.73 crore.

The issue opened for subscription on August 24 and closes on August 27, 2026. The allotment is expected on August 28, while the shares are tentatively scheduled to list on the NSE and BSE on September 1, 2026.

Hy-Tech Engineers has set the IPO price band at Rs 50-53 per share, with a lot size of 283 shares. At the upper price band, retail investors will need Rs 14,999 to bid for one lot.

New Berry Capitals Pvt. Ltd. is the book-running lead manager, while Bigshare Services Pvt. Ltd. is the registrar to the issue.

Anchor investors

The Hy-Tech Engineers IPO secured Rs 40.72 crore from anchor investors, with the anchor bidding taking place on August 21, 2026.

Hy-Tech Engineers IPO subscription

The IPO continued to attract strong investor interest on Day 2, with the issue subscribed 19.33 times against the total offer of 1.81 crore shares.

• Retail individual investors (RIIs): Subscribed 27.26 times against 92.01 lakh shares on offer.
• Non-institutional investors (NIIs): Subscribed 24.56 times against 39.43 lakh shares on offer.
• Qualified institutional buyers (QIBs): Subscribed 62% against 50 lakh shares on offer.

Hy-Tech Engineers IPO GMP

The Hy-Tech Engineers IPO is currently trading at a grey market premium (GMP) of Rs 30 per share, translating into a premium of approximately 57% over the upper issue price of Rs 53. Based on the prevailing GMP, the estimated listing price is around Rs 83 per share.

GMP note: The grey market premium is an unofficial market indicator and should not be considered a guarantee of the IPO’s actual listing price. GMP can fluctuate based on market sentiment, investor demand, and broader market conditions. Investors should therefore avoid relying solely on GMP when making investment decisions.

IPO objects of the issue

The company proposes to utilise the net proceeds from the issue primarily towards capital expenditure of Rs 29.97 crore for procuring machinery and equipment for expansion at its Kavathe and Shirwal units and procurement for Pithampur Unit-I.

Further, Rs 16.00 crore will be used for the full or partial prepayment or repayment of certain outstanding borrowings, with the remaining proceeds allocated towards general corporate purposes. The total estimated utilisation of the issue proceeds is Rs 45.97 crore.

Financial performance

Hy-Tech Engineers Ltd. reported a strong financial performance in FY26, with total income increasing by 16% to Rs 193.44 crore, compared with Rs 166.71 crore in FY25. The growth reflects a healthy improvement in the company’s overall revenue during the year.

Profitability also remained robust, with profit after tax (PAT) rising by 15% to Rs 22.59 crore in FY26 from Rs 19.62 crore in FY25. Overall, the company delivered consistent year-on-year growth in both income and net profit.

About Hy-Tech Engineers

Incorporated in December 1978, Hy-Tech Engineers Limited is an engineering company specialising in the design, manufacture and supply of hydraulic fittings for industrial applications. With over four decades of experience, it offers 11,000+ SKUs, including DIN-metric, JIC, ORFS, conversion and customised fittings.

The company follows a B2B model, serving OEMs and industrial customers across domestic and international markets through direct sales and distribution partners. Its products cater to construction, automotive, agricultural machinery, injection moulding and hydraulic systems, with additional certifications for railway and defence applications. As of March 31, 2026, it had a presence across the USA, Europe, the Middle East, Brazil and Asia.

Hy-Tech Engineers operates manufacturing facilities in Thane, Shirwal, Kavathe, and Pithampur, supported by its Nashik unit for forged components. As of March 31, 2026, the company had 468 permanent employees and 253 contractual personnel.

Should you subscribe?

According to brokerage firm AnandRathi Research, Hy-Tech Engineers Ltd.’s IPO is valued at a P/E of 22.25x based on FY26 earnings and an EV/EBITDA of 12.15x at the upper end of the price band. This translates into a post-issue market capitalisation of approximately Rs 5,027 million.

The brokerage believes the company is well-positioned to benefit from the growth of the hydraulic fittings industry. Given its established market presence and growth prospects, the IPO is considered reasonably valued. Accordingly, Anand Rathi Research has assigned a “Subscribe – Long Term” rating to the IPO.

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

A new report by the Government Accountability Office (GAO) warns Americans’ retirement plans may be sharing or selling personal information that can be used to market financial products and services.

Over 126 million Americans are enrolled in employer-sponsored retirement plans, such as a 401(k) or similar account, with total assets in those plans exceeding $9 trillion, according to the GAO.

Those plans are typically administered by external providers of financial services and the report explained that employers share some personally identifiable information with asset managers, payroll providers and record keepers who manage the investment and processing of contributions.

Personal data that employers may share with those service providers can include information like a birth date, Social Security number, account numbers and balances, as well as other data.

The GAO noted that while service providers can use that data to market financial products and services, they may, in some cases, sell that data to third parties, which can increase the risk of inadvertent exposure.

MOST AMERICANS STILL TRUST FINANCIAL ADVISORS OVER AI TOOLS FOR MAJOR MONEY DECISIONS, STUDY FINDS

GAO’s analysis included a review of privacy disclosures from 31 service providers, of which 29 either explicitly allowed data sharing or didn’t specify whether participant data could be shared for marketing purposes.

Additionally, over half of the financial service providers – 17 of the 31 – didn’t limit their ability to sell participant data to data brokers or other third parties.

It also found that just 12 of the 31 service providers have privacy disclosures allowing plan participants to opt out of data sharing.

AMERICANS’ 401(K) BALANCES HIT RECORD LEVELS IN 2025

The GAO’s report included a recommendation that the Labor Department provide additional guidance about data privacy for participants in retirement plans for sponsors and service providers.

In particular, GAO said that the labor secretary “should clarify what participant information should be considered private and the circumstances in which service providers should obtain written permission before using or sharing this information.”

“Such guidance could also identify best practices including for providing individual participants with choice, to the extent practicable, about how their personal information may be used, sold or shared,” GAO added.

FIDELITY ESTIMATES RETIREES WILL SPEND $185,500 ON HEALTHCARE AND MEDICAL EXPENSES IN RETIREMENT

The Labor Department provided a response to the GAO’s analysis that said it “fully supports the goal of appropriately protecting the personal information of participants and beneficiaries of plans” though it neither agreed nor disagreed with the report’s recommendations.

The agency noted the GAO report’s discussion of a 2021 guidance on cybersecurity that discussed data privacy as a component of service providers’ fiduciary responsibilities to plan participants, which states that contracts should spell out the provider’s obligation to protect private information.

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The Labor Department’s response added that while it believes the 2021 guidance makes it clear to fiduciaries that they’re obligated to include data privacy considerations in their contracts, as resources permit, the agency will “carefully consider whether supplemental guidance aligned with the recommendation could or should be issued.”