Right on cue, the press got ready to print a bad jobs report for August, and then SLAM, the number comes out up 162,000. About three times the Wall Street consensus. Of course, most of Wall Street and their liberal pals in the press just love to ignore eight straight months of Institute for Supply Management manufacturing index increases, and 15 straight monthly ISM services index increases. And tremendous gains in industrial production and consumer spending. We’ll get into the numbers in just a moment.
But let me say right here that President Trump’s economic boom has become the greatest story never told, but the story is factual. And if the GOP is gonna hang on to Congress in the midterms, they’ve got to get the story out.
As former White House counselor, Kellyanne Conway, told me the other night, “They’ve got the money, the message, they need a better sales pitch and they’ve got great messengers like you and Secretary Bessent and obviously President Trump, most of all.”
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Now, about those jobs numbers, including 55,000 upward revisions for June and July, the actual job gain in August was more than 217,000. Since Mr. Trump took office private jobs have gone by more than a million, while federal jobs have declined by more than 300,000. This is the Trumpian free enterprise restructuring of the economy, putting an end to President Biden’s hapless big government socialism.
Former Reagan economist Art Laffer and Yardeni Research President Ed Yardeni discuss the state of the economy on ‘Kudlow.’
And on top of that, the employment to population ratio, perhaps the best jobs indicator, moved up to 59.1 percent from 58.9 percent.
Meanwhile, manufacturing and construction and goods producing jobs keep rising. And as far as wages are concerned, in the private sector, wage gains plus hours worked gave 4.3 percent increase in the wage income proxy, which is actually higher than the temporarily inflated consumer price index.
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This should come as no surprise to analysts who have been honestly tracking the numbers. Productivity is booming, so are profits, so are stocks, so are consumers, and so is the hard goods industry, where durable goods, the heart of manufacturing, is rising at double digit gains.
We haven’t seen this in decades. Can Mr. Trump take credit for it? Well I’ll tell you what? 100 percent immediate depreciation, “drill, baby, drill,” deregulation, tax free overtime, tax free tips. you know what? That stuff is working, if only the press would report it.
Consumers weighing whether to buy Samsung’s newly released Galaxy Z Fold 8 or hold out for Apple’s long-anticipated first foldable iPhone face a decision complicated by an unusual asymmetry: one device is already on the market with confirmed specifications and pricing, while the other remains an unreleased product built almost entirely on leaks and analyst projections ahead of its expected Sept. 9 unveiling.
Samsung’s Galaxy Z Fold 8 lineup launched Aug. 7 following its formal reveal at Galaxy Unpacked on July 22 in London. The standard Galaxy Z Fold 8 starts at $1,899 and features a notably different design than its predecessor, adopting a shorter, wider form factor with a 5.5-inch external cover display and a 7.6-inch internal display when unfolded. For buyers seeking a more direct successor to last year’s Galaxy Z Fold 7, Samsung also released the Galaxy Z Fold 8 Ultra, which starts at $2,099 and retains a thinner, taller design philosophy alongside more premium specifications, including an 8-inch internal display, a triple rear camera system, a 5,000 milliamp-hour battery, 12 gigabytes of RAM and Qualcomm’s Snapdragon 8 Elite Gen 5 chipset running Samsung’s One UI 9 software atop Android 17.
iPhone Fold
Apple, by contrast, has not yet officially confirmed the existence, name, specifications or pricing of its first foldable iPhone, expected to debut at the company’s Sept. 9 media event alongside the iPhone 18 Pro and iPhone 18 Pro Max. Based on leaks and analyst reporting, the device is widely expected to carry the “iPhone Ultra” branding, though some outlets have also referred to it as the “iPhone Fold.”
On pricing, multiple research firms have converged on broadly similar, though not identical, projections for Apple’s device. Research firm IDC has projected an average selling price of approximately $2,550 for the foldable iPhone, with higher-storage configurations potentially reaching $3,000. Taiwanese research firm TrendForce has separately estimated a U.S. starting price between $2,099 and $2,299, with top-tier storage configurations similarly capable of exceeding the $3,000 mark. Either projection would place Apple’s foldable well above the pricing of Samsung’s standard Galaxy Z Fold 8, and roughly in line with, or somewhat above, the Z Fold 8 Ultra’s $2,099 starting price.
On design and display size, leaked specifications point to Apple’s foldable featuring a 7.8-inch inner display alongside a 5.5-inch external cover display, dimensions broadly comparable to Samsung’s standard Galaxy Z Fold 8, which offers a 7.6-inch inner display and matching 5.5-inch cover screen. Where the two devices are expected to diverge more significantly is in biometric authentication: Apple’s foldable is rumored to abandon Face ID in favor of Touch ID, reportedly due to space constraints created by the foldable design, a notable departure from the Face ID system used across the rest of Apple’s current iPhone lineup. Samsung’s Z Fold 8 devices, by comparison, continue to rely on a combination of fingerprint and facial recognition options consistent with the broader Galaxy lineup.
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On processing hardware, Apple’s foldable is expected to include the company’s new A20 chip alongside its in-house C2 modem, aligning it technically with the broader iPhone 18 generation despite its distinct form factor. Samsung’s Galaxy Z Fold 8 Ultra runs on Qualcomm’s Snapdragon 8 Elite Gen 5, a chipset built specifically for Android’s current generation of flagship devices, while the standard Z Fold 8 is expected to use comparable, if not identical, silicon given its release alongside the Ultra variant.
Software represents another significant point of differentiation for buyers to weigh. Samsung’s foldables run Android 17 with the company’s One UI 9 software layered on top, offering deep multitasking features, an S Pen-compatible design in some configurations, and Samsung’s own suite of productivity tools optimized for the larger internal display. Apple’s foldable would run iOS, giving buyers access to Apple’s ecosystem of apps, services and cross-device integration with other Apple products such as the Mac, iPad and Apple Watch, a consideration that often weighs heavily for consumers already invested in one company’s broader hardware and software ecosystem.
Given that Apple’s device remains unreleased and unconfirmed in nearly every technical respect beyond leaked reporting, a definitive head-to-head buying recommendation is premature at this stage. Consumers who need a foldable device today, or who are deeply invested in Google’s Android ecosystem, have a confirmed, available option in Samsung’s Galaxy Z Fold 8 lineup, which offers a choice between the more compact, wide-format standard model and the taller, more premium Ultra variant. Buyers committed to Apple’s iOS ecosystem, or those willing to wait for additional details and independent reviews, will need to wait until after Apple’s Sept. 9 event, and likely several additional weeks beyond that for hands-on reviews, before a fully informed comparison becomes possible.
Cost remains a significant consideration regardless of which ecosystem a buyer prefers. Even under the most conservative pricing estimates currently circulating, Apple’s foldable iPhone is expected to launch at a price point matching or exceeding Samsung’s most expensive current foldable option, the Z Fold 8 Ultra, and could climb considerably higher for buyers seeking maximum storage configurations. That pricing structure suggests Apple’s entry into the foldable category will function as an ultra-premium flagship offering rather than a direct, budget-competitive alternative to Samsung’s existing lineup.
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For now, prospective buyers face a choice between a proven, already-shipping foldable device from Samsung with a well-established software ecosystem built around Android, and an unreleased, rumored Apple device that, based on current leaks, appears likely to command an even steeper price premium once it becomes available. Those prioritizing certainty and immediate availability may find the Galaxy Z Fold 8 the more practical choice today, while those deeply committed to Apple’s ecosystem, or simply curious about the company’s first entry into the foldable category, will need to wait for confirmed details following the Sept. 9 unveiling before making a final purchasing decision.
Virgin Group founder Sir Richard Branson has blamed flight price rises on “foolish leaders” starting wars, in a thinly veiled reference to the US-Israel conflict with Iran.
Middle East tensions have choked the production and transportation of millions of barrels of oil, causing a surge in the price of car and jet fuels, which are made from oil.
In May, Virgin Atlantic added a fuel surcharge to ticket prices in response.
US President Donald Trump has repeatedly defended the conflict as necessary for peace and security long-term.
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However, Sir Richard said there was “no need” for the war.
“The Iran conflict was completely unnecessary. There was a nuclear agreement between Iran and the rest of the world that had been negotiated by President Obama and a lot of European people.
“It was working, so there was no need to rip it up… And this war has just resulted in much higher oil prices all over the world. And inflation has been one of the consequences.”
The BBC has contacted the White House for comment.
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The European benchmark jet fuel price had been hovering around $800 (£590) a tonne but spiked following the outbreak of the Iran war, reaching a peak of over $1,800 in April. It has since dropped to around $1,450.
Virgin Atlantic’s chief executive, Corneel Koster, told the BBC that for “this level of fuel price” fuel surcharges were “absolutely required”, adding that it’s “hard to be optimistic at this moment about the situation in the Middle East”.
The surcharge Virgin introduced added £50 to an economy class fare, £180 to premium and £360 to business class.
Baby Dolphin Killed By Migrants At Ceuta Beach Sparks Outrage, Formal Complaint To Police In Spain
CEUTA, Spain — A baby dolphin died this week after a group of migrants pulled it from the sea and struck it on the head with a stick at a beach in the Spanish North African enclave of Ceuta, according to local reporting, prompting a formal criminal complaint from an environmental group and widespread public outrage after video of the incident circulated online.
The incident occurred Wednesday afternoon at Trampolin beach, according to local newspaper El Faro de Ceuta, which said a group of migrants noticed the young bottlenose dolphin swimming close to shore and took advantage of its proximity to pull it out of the water. Once the animal was on land, one member of the group struck it on the head with a stick, according to the outlet’s reporting. The blow left the dolphin severely injured and, based on subsequent observations, ultimately proved fatal.
A cleaning worker employed by the company Ecoservicios witnessed the incident while working in the area and warned the group to stop handling the animal, telling them they should instead call emergency services to have the dolphin properly collected. According to accounts of the episode, the group then attempted to return the calf to the sea, but the animal already appeared to be dead by that point.
Video of the incident, verified by El Faro de Ceuta, showed one of the migrants carrying the dolphin away from the shoreline toward a nearby breakwater area, described in some accounts as carrying the animal “like a trophy.” Those who filmed the initial footage lost sight of the group once they moved behind the breakwater blocks, leaving the immediate aftermath of the incident unclear until additional footage and details later emerged.
DAUBMA, a Spanish environmental advocacy group focused on urban forestry, biodiversity and environmental protection, filed a formal complaint with Spain’s Guardia Civil on Thursday over what it described as the animal’s violent death. In a statement, the organization said it had submitted photographs, videos and social media posts to investigators documenting the sequence of events, which the group said showed the dolphin arriving alive and disoriented at the shore before being pulled from the water and attacked by several individuals.
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Dolphins are classified as strictly protected species under regulations in effect throughout the European Union, meaning that injuring or killing one of the animals can carry significant criminal consequences under Spanish and European law. A petition subsequently launched on Change.org calling for those responsible to be identified stated that the incident could not go unpunished, emphasizing that mistreatment of protected marine species constitutes a serious criminal offense under applicable law.
The dolphin incident was not an isolated case of wildlife mishandling reported in Ceuta that same day. Separately on Wednesday, workers with Ecoservicios intervened near a reservoir in the city after observing a migrant who had captured a goose, apparently intending to hunt or capture it for food. A bystander who witnessed that incident reportedly confronted the individual and attempted to detain him until authorities arrived.
Both incidents unfolded against the backdrop of an ongoing migration crisis that has significantly affected Ceuta in recent weeks. The Spanish enclave, located on Africa’s northern coast and bordering Morocco, experienced a large-scale arrival of migrants in late July, with local reporting describing thousands of people entering the territory over a short period. That influx has placed substantial strain on the city’s infrastructure and public services, and has coincided with a series of reported incidents affecting local wildlife, according to accounts from El Faro de Ceuta, which noted the dolphin case adds to a pattern of impacts on Ceuta’s natural surroundings tied to the scale of the recent arrivals, ranging from disturbances to limpets and birds to the dolphin calf’s death.
Trampolin beach, the site of the dolphin incident, has itself become a focal point of the broader crisis in Ceuta in recent weeks. Local authorities cleared an encampment of migrants from the beach on Aug. 20, relocating residents to a separate site in the Loma Colmenar neighborhood, where local reporting has described ongoing tensions, including reports of fights, thefts and overcrowding among the more than 700 people housed in tents at the site.
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Wildlife and environmental authorities in Spain have repeatedly emphasized that members of the public who encounter an injured, disoriented or seemingly deceased marine animal should avoid touching or attempting to move it themselves, and should instead immediately contact the appropriate emergency or wildlife recovery services. Both the dolphin case and the separate goose incident, officials and advocacy groups noted, illustrate the risks associated with untrained individuals directly handling wild animals, regardless of the animal’s apparent condition.
Spanish national politicians and commentators have seized on the incident amid broader public debate over migration policy in the country, with the episode circulating widely on social media alongside commentary from figures across the political spectrum. The footage has drawn particular attention given its timing amid heightened scrutiny of migration issues in Ceuta and broader debate within Spain over how the government has managed the recent influx of arrivals to the territory.
As of this report, Spanish authorities had not announced whether any suspects had been identified or whether formal charges would be filed in connection with the dolphin’s death, though DAUBMA’s formal complaint to the Guardia Civil is expected to prompt further investigation into the incident. Local environmental officials in Ceuta have not issued an additional public statement beyond the initial reporting from El Faro de Ceuta and the subsequent circulation of verified video footage documenting the events at Trampolin beach.
Cosmic PV Power has received Sebi observations for its proposed Rs 640 crore IPO. The company had filed its draft papers with the regulator in March this year. The issue comprises a fresh issue of shares worth up to Rs 540 crore and an offer for sale of up to Rs 100 crore by selling shareholders. The company plans to use the fresh issue proceeds mainly for setting up a planned manufacturing facility in Narmadapuram, Madhya Pradesh, and for general corporate purposes.
Cosmic PV Power manufactures solar photovoltaic modules and is among the fastest-growing solar PV module makers in India, based on revenue CAGR of 125.8% between FY23 and FY25, according to the Care Report cited by the company. It operates across three verticals: solar PV module manufacturing, EPC services and aluminium frame manufacturing.
The company is also certified under the Ministry of New and Renewable Energy’s Approved List of Module Manufacturers List-I, with an enlisted capacity of 1.30 GW as of September 30, 2025. This allows it to supply solar modules for government and government-assisted renewable energy projects where ALMM-I sourcing is required. Monomark Engineering IPO Monomark Engineering has also received Sebi clearance for its proposed public issue. The IPO will be a fresh issue of 2.7 crore shares.
Monomark Engineering is engaged in industrial operations and maintenance services, metal fabrication solutions and industrial project execution. It serves industrial and infrastructure clients across sectors such as metals, cement, ports, engineering and original equipment manufacturers.
RKB Global IPO
RKB Global has also received Sebi observations for its IPO. The proposed offer comprises up to 1.46 crore equity shares of face value Rs 10 each. This includes a fresh issue of up to 1.26 crore shares and an offer for sale of up to 20.2 lakh shares by selling shareholders.
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The latest approvals come at a time when India’s IPO market is seeing a sharp revival after a slow first half of 2026. The second half has seen issuers returning to the market as investor sentiment improved and recent listings delivered stronger returns.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
LOS ANGELES — Former Los Angeles Lakers star Derek Fisher believes the franchise is uniquely positioned to avoid the dramatic decline that has historically followed LeBron James’ departure from a team, arguing that the presence of Luka Doncic gives the Lakers a level of stability James’ previous teams lacked once he moved on.
James informed the Lakers this summer that he would not be returning for the 2026-27 season, ending an eight-season run with the franchise that included one NBA championship. James subsequently signed a near-minimum, two-year contract with the Philadelphia 76ers, where he will join Joel Embiid, Jaylen Brown and Tyrese Maxey as he continues pursuing another title in what will be his 23rd NBA season and fourth different franchise.
Speaking on 97.1 The Fan LA, Fisher, a five-time NBA champion during his own playing career with the Lakers, acknowledged James’ well-documented history of leaving teams in difficult positions after his departures, but argued the current Lakers roster is fundamentally different from those situations given Doncic’s presence.
“You think about the few organizations where LeBron has been, you tell me where their record has gotten dramatically better after he left,” Fisher said. “So it’s not going to fall off that much because Luka is there.”
Fisher expanded on why he views the Lakers’ current backcourt and frontcourt pieces as sufficient to sustain competitive basketball in James’ absence, pointing specifically to the combination of Doncic, Austin Reaves and center Walker Kessler.
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“I think Luka and Austin Reaves are basically an All-Star backcourt that you can roll out every night, and then Walker Kessler is a young developing almost All-Star-ish type of big in terms of his elite defense and rebounding,” Fisher said. “So I think you have a chance … 45 to 50 wins, a lot of things are going to have to go right, but it feels fair to me.”
The Lakers finished last season 53-29, good for fourth place in the Western Conference, with James still on the roster for the full campaign. The team was eliminated in the first round of the playoffs, extending a stretch of postseason disappointment that had already begun to shape questions about the roster’s construction even before James’ eventual departure.
Doncic, who joined the Lakers in a blockbuster trade from the Dallas Mavericks last year, has continued building his long-term future with the franchise since arriving in Los Angeles. He signed a three-year, $165 million maximum contract extension with the Lakers, committing to the organization through 2028 and bypassing the opportunity to test free agency. Doncic averaged 28.2 points, 8.2 assists and 7.7 rebounds per game last season while playing alongside James for the bulk of the year.
The Lakers have also moved to lock up other key pieces of their roster this offseason as they transition into the post-James era. Austin Reaves signed a four-year, $185 million maximum contract extension, cementing his role as a co-star alongside Doncic in the Lakers’ backcourt. General manager Rob Pelinka has also worked to reshape the frontcourt, headlined by a four-year, $130 million deal for center Walker Kessler, addressing a position that had been viewed as a relative weakness for the team in recent seasons.
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Fisher’s assessment stands in contrast to the pattern that has often followed James’ departures from previous teams throughout his career. The four-time NBA champion has left multiple franchises over the years, including two separate stints with the Cleveland Cavaliers and a run with the Miami Heat, with several of those teams experiencing significant on-court decline in the immediate aftermath of his exit. Fisher’s argument hinges specifically on the idea that Doncic represents a genuine, already-established franchise centerpiece capable of anchoring an elite offense in his own right, a luxury James’ prior teams typically did not have readily available once he moved on.
Over his eight seasons with the Lakers, James averaged 25.9 points, 7.9 assists and 7.7 rebounds across 479 games with the franchise, according to statistics compiled by StatMuse, numbers that reflect his continued elite-level production even in the later stages of his tenure with the team.
Beyond Fisher’s public comments, other former Lakers figures have offered mixed assessments of the team’s outlook heading into the new season. Former Lakers forward Trevor Ariza has expressed skepticism about whether the current roster has fully assembled a championship-caliber group around Doncic, suggesting that questions remain about the depth and overall competitiveness of the roster beyond its top-tier talent. Doncic himself has struck a positive tone following the team’s first mini-camp with its revamped roster, expressing optimism about the direction of the team heading into the 2026-27 campaign despite acknowledging there remains significant work ahead.
The Lakers’ transition away from James also arrives amid broader organizational change for the franchise, with ownership undergoing a significant transition this year alongside the team’s on-court roster overhaul, a combination some analysts have noted could complicate the club’s ability to execute a smooth restructuring of its front office and broader franchise philosophy during a pivotal offseason.
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As the Lakers prepare to open the 2026-27 season without James for the first time in nearly a decade, Fisher’s comments reflect a broader debate among former players, analysts and fans over how much the franchise’s fortunes will hinge on Doncic’s ability to replicate, or even exceed, the level of production and leadership James provided during his eight seasons with the team. With Doncic now under contract through 2028 and the Lakers having committed significant long-term resources to both Reaves and Kessler this offseason, the coming season is widely expected to serve as an early test of whether the front office’s bet on a Doncic-centered core can sustain the level of competitiveness the Lakers maintained throughout James’ tenure with the franchise.
M&G plc (MGPFY) Q2 2026 Earnings Call September 3, 2026 4:30 AM EDT
Company Participants
Luca Gagliardi – Director of Investor Relations Paolo Rossi – Group CEO & Executive Director Kathryn McLeland – CFO & Executive Director
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Conference Call Participants
Dawid Pych – RBC Capital Markets, Research Division Andrew Baker – Goldman Sachs Group, Inc., Research Division Farooq Hanif – JPMorgan Chase & Co, Research Division Thomas Bateman Andrew Crean – Bernstein Autonomous LLP Abid Hussain – Panmure Liberum Limited, Research Division
Presentation
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Luca Gagliardi Director of Investor Relations
Perfect. So we’re live, and welcome to M&G’s 2026 Half Year Results. Welcome back after the summer. It is a very good set of results.
So without further ado, I’ll hand over to Andrea Rossi, our Group Chief Executive Officer.
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Paolo Rossi Group CEO & Executive Director
Thank you. Thank you. Good morning, and welcome to M&G’s 2026 Half Year Results. It is a pleasure to be here with you today. In the first 6 months of the year, we have made great progress on our strategy. Despite a volatile macro environment, we delivered good net inflows from open business and strong profit growth. I am excited to see how day by day, our vision for M&G is translating into operational and financial delivery. So let me share with you the main highlights of the year so far.
In 2023, we set 3 strategic priorities for M&G. First, we focused on financial strength and simplification to set up M&G for the long-term success. Now we are delivering growth. 2025 was a good year for us, and this strong momentum continued into 2026. Operating profit of GBP 435 million is our best half results since listing in 2019. It is up 15% year-on-year, thanks to a 24% increase in Asset Management and double-digit growth in PruFund. Our strategic pivot is paying off, with high-quality capital-light earnings now representing 80% of total earnings, and
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