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This refers to your edit ‘India needs new banks’ (ET, Mar 4). Financial inclusion and financial literacy will be the paramount objective while implementing reforms along with UID project to protect the interests of poor. Modern banking system has lost apersonal touch. Even citizens from semi-urban areas are reluctant to use ATMs. NextGen banking may fail in rural areas. It’s true we need more banks and innovative way of thinking, competition will drive away inefficient players.
ET has also suggested the perfect solution to the problem in the same edition, ‘Before they compete, let banks consolidate’. Narasimhan panel too has suggested to have less number of banks with more branches at the national level. The author has pointed out that of 9,000 private bank branches, just 1,138 are located in rural areas. This means they are not keen to go rural.
Prysmian S.p.A. (PRYMY) Q2 2026 Earnings Call July 30, 2026 4:00 AM EDT
Company Participants
Massimo Battaini – Group CEO, GM & Executive Director Pier Facchini – CFO, CEO of Finance, Administration, Control & IT and Executive Director
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Conference Call Participants
Daniela Costa – Goldman Sachs Group, Inc., Research Division Vivek Midha – Citigroup Inc., Research Division Akash Gupta – JPMorgan Chase & Co, Research Division Max Yates – Morgan Stanley, Research Division Sean McLoughlin – HSBC Global Investment Research Christopher Leonard – UBS Investment Bank, Research Division Lucas Ferhani – Jefferies LLC, Research Division Monica Bosio – Intesa Sanpaolo Equity Research Alessandro Cecchini – Equita SIM S.p.A., Research Division Nabil Najeeb – Deutsche Bank AG, Research Division Uma Samlin – BofA Securities, Research Division Alessandro Tortora – Mediobanca – Banca di credito finanziario S.p.A., Research Division
Presentation
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Operator
Good day, and thank you for standing by. Welcome to Prysmian First Half 2026 Integrated Results Webcast and Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded.
I would now like to hand the conference over to Massimo Battaini, Chief Executive Officer of Prysmian. Please go ahead.
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Massimo Battaini Group CEO, GM & Executive Director
Good morning, everyone. Thank you for joining this call, Quarter 2 result. We are super excited to highlight that this is the best quarter ever of Prysmian, EUR 730 million EBITDA, 13.4% EBITDA margin, 9.4% organic growth. So as you see it’s a great quarter from the numbers perspective. It is also great in terms of the achievement of the hyperscalers and Molex deals with a EUR 10 billion in the optical space over the next 10 years. Also, on the sustainability side, we exceeded our expectation with that 46% of the current revenue leading to sustainable solutions. When you read 46%, you need to read almost EUR 10 billion revenues, where we provide customers with low carbon footprint and solution that has achieved their own targets. 42% is the amazing reduction
The U.S. Department of Veterans Affairs is launching a nationwide clinical trial to determine whether a class of medications best known for treating diabetes and obesity can also help veterans struggling with alcohol addiction, the agency announced Thursday.
The VA said it will enroll more than 600 veterans in the study, which will evaluate semaglutide, a GLP-1 receptor agonist widely used to treat Type 2 diabetes and obesity. Researchers are investigating whether the medication, sold under brand names including Ozempic and Wegovy for its approved uses, may also reduce alcohol consumption by affecting the brain’s reward system, the same neural circuitry believed to play a central role in the drug’s appetite-suppressing effects.
Participants in the study, ages 18 to 80, will need to have moderate or severe alcohol use disorder to qualify for enrollment. Those selected will receive weekly injections of either semaglutide or a placebo over a 24-week treatment period, followed by a subsequent safety follow-up phase. Throughout the trial, researchers will track changes in participants’ drinking habits, overall physical health and quality of life to assess whether the medication could eventually become a viable new treatment option for alcohol use disorder.
The study, formally titled the Cessation or Reduction of Alcohol Consumption in Veterans trial, will be conducted at 18 VA medical centers across the country, including facilities in Los Angeles, Long Beach and Palo Alto, California.
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GLP-1 medications were originally developed and approved specifically to treat Type 2 diabetes, but have since become widely known to the public primarily for their effectiveness in promoting weight loss. Researchers have continued studying the broader class of drugs for potential benefits extending well beyond their original indications, including possible effects on heart health, chronic inflammation and other conditions unrelated to blood sugar control or body weight.
The scale of alcohol use disorder within the veteran population has driven the VA’s interest in exploring new treatment approaches. According to the agency, more than 400,000 veterans nationwide have received a diagnosis of alcohol use disorder. An analysis published earlier this year found that patients taking GLP-1 medications experienced lower rates of both alcohol use disorder and other substance use disorders compared with similar patients taking different diabetes medications, a finding that prompted researchers to investigate the drugs’ potential more directly through a controlled clinical trial.
VA Secretary Doug Collins framed the trial as an example of the kind of research the department is uniquely positioned to carry out given its direct focus on veteran health outcomes. “This clinical trial reflects medical research that VA is uniquely situated to launch, and is aimed directly at benefitting Veterans,” Collins said in a statement. “By exploring emerging treatment options like the use of a GLP-1 for AUD, we aim to expand the tools available to help Veterans take control of their health and recovery.”
Recruitment for the study began this week, according to VA officials. The department emphasized that veterans should not attempt to self-medicate with GLP-1 medications or discontinue proven, existing alcohol use disorder treatments without first consulting their health care providers, given that the trial remains an experimental research study rather than an approved treatment protocol.
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Alcohol use disorder remains one of the most common and challenging conditions facing the veteran population, often occurring alongside other service-related health issues, including post-traumatic stress disorder, chronic pain and other mental health conditions. Existing treatment options for the condition include several FDA-approved medications, along with a range of behavioral therapies and support programs, though researchers and clinicians have continued searching for additional treatment approaches given that no single existing option works effectively for every patient.
The scientific interest in GLP-1 medications for addiction treatment extends beyond alcohol use disorder specifically. Researchers studying the broader class of drugs have also examined their potential effects on other substance use disorders, building on observational data suggesting the medications may influence the same underlying neural reward pathways implicated in various forms of addictive behavior, not solely those related to food intake and appetite regulation.
The VA’s trial adds to a growing body of ongoing research into GLP-1 medications’ effects well beyond their original diabetes and weight-loss indications, as the drugs have continued attracting significant scientific and public interest since their initial approval and rapid rise in popularity in recent years.
Given that this trial involves veterans managing alcohol use disorder, a serious and potentially life-threatening condition, anyone personally struggling with alcohol use or addiction is encouraged to speak directly with a healthcare provider about existing treatment options rather than waiting for or relying on the results of this ongoing research study, and veterans specifically can contact their local VA medical center for information about current treatment resources and potential eligibility for enrollment in the trial as recruitment continues.
A major scientific review is challenging the widely held assumption that more protein is always better for health, suggesting instead that eating less protein, or fewer of certain amino acids, may activate biological processes linked to healthier aging for many adults who already consume enough.
The review, led by pathologist and biomedical researcher Dudley Lamming, was published in the journal Cell Press Blue and examined more than 350 studies involving humans, mice, insects, yeast and other organisms. The analysis found that reducing protein intake, or the intake of specific amino acids that make up dietary protein, may trigger body processes tied to healthier aging and improved metabolism, the process through which the body converts food and drinks into usable energy.
The findings arrive amid a cultural moment in which protein has become an increasingly ubiquitous marketing feature across the food industry. Protein is now added to lattes, cereal, chips, ramen and numerous other products that were never traditionally marketed as protein sources, reinforcing a broad public message that more protein consistently equates to better health. A 2025 survey by the International Food Information Council found that 70% of U.S. adults said they actively try to eat protein, with high-protein diets ranking as the most popular diet type in the United States for the third consecutive year. Many of those surveyed, however, reported that they did not actually know how much protein they needed.
Protein plays an essential role in building muscle, repairing tissue and supporting the body’s recovery processes, but individual protein needs vary considerably based on age, health status, body size and activity level. The general recommended daily allowance for a healthy adult is 0.8 grams of protein per kilogram of body weight, or roughly 0.36 grams per pound, meaning a person weighing 140 pounds would need approximately 51 grams of protein daily under that standard guideline.
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Many Americans already consume protein well above that baseline recommendation. A typical meal often contains 20 to 30 grams of protein, frequently sourced from a 3- to 6-ounce serving of meat, chicken or fish. An analysis of national health data found that adults who met standard exercise guidelines consumed an average of about 82 grams of protein daily, while adults who did not meet those exercise guidelines still consumed roughly 79 grams per day on average, indicating that protein intake levels among American adults, whether physically active or not, generally exceed the baseline recommended amount by a wide margin.
Lamming, who studies aging at the University of Wisconsin-Madison School of Medicine and Public Health, suggested that sedentary individuals in particular may not need to continue increasing their protein intake beyond the standard guideline. “It’s probably safe to say that for sedentary individuals, maybe [follow] the original [recommended daily amount of] 0.8 grams per kilogram,” Lamming said. He clarified that this finding does not mean inactive adults need to immediately cut their current protein intake, only that they may not need to keep adding more. Lamming noted that for sedentary individuals specifically, simply increasing physical activity may provide greater health benefits than further increasing protein consumption alone.
The review examined how reduced protein intake affects several underlying biological processes tied to aging, including the activity of a hormone called FGF21. “There’s an increase in a hormone called FGF21 that promotes energy expenditure [when protein intake is reduced],” Lamming said. “It essentially increases thermogenesis in your adipose tissue, so you don’t just store fat, but actually burn it as fuel.” That mechanism may help explain why some studies have linked lower-protein diets to reduced body fat, improved blood sugar control and generally healthier metabolic function. Lamming’s review also found that reduced protein intake may influence cellular signaling processes that determine when cells grow, repair damage or recycle deteriorating internal components, functions believed to play a role in the broader aging process.
Lamming emphasized that protein restriction as described in the review is distinct from protein deficiency, and that the research is not suggesting people deprive their bodies of an essential nutrient. Instead, the findings raise the possibility that avoiding unnecessary excess protein intake, beyond what an individual’s body actually requires, could offer benefits for people who are already meeting their nutritional needs.
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The review also emphasized that appropriate protein needs vary significantly from person to person, and that certain populations likely require more protein rather than less. Active adults, pregnant individuals, older adults, and people recovering from illness, injury or surgery may all have elevated protein needs compared with the general population. People actively working to lose weight may also need adequate protein intake specifically to help preserve muscle mass as they lose overall body fat. Older adults face particular considerations given the natural, age-related muscle loss known as sarcopenia; adequate protein intake combined with regular strength training exercise may help slow that process. People with kidney disease, liver disease or other underlying health conditions may require individualized dietary guidance that differs from general population recommendations.
The review’s authors acknowledged several limitations in the underlying research. The studies included in the analysis used varying diets, differing protein amounts and inconsistent study durations, and many of the studies were conducted in animals or other non-human organisms, meaning the results may not fully translate to human physiology. Given the individualized nature of protein needs and the potential health implications of significant dietary changes, anyone considering a major adjustment to their protein intake, particularly people with existing health conditions, older adults or those recovering from illness or injury, is encouraged to consult a doctor or registered dietitian before making changes, rather than relying solely on general research findings to guide personal dietary decisions.
Florida has recorded its first death of 2026 caused by an infection from Vibrio vulnificus, the so-called “flesh-eating” bacterium, according to state health officials, as coastal waters continue warming through the height of summer.
The bacterium, most commonly transmitted through raw seafood or contact with brackish coastal water, earned its “flesh-eating” nickname because the infection it causes, vibriosis, can damage or destroy skin and underlying tissue. Florida records infections from the bacterium every year, typically resulting in a handful of deaths across the state.
As of July 30, Florida had recorded 12 cases of Vibrio vulnificus infection so far this season, including one death in Palm Beach County, according to Florida Health data. That pace compares with a total of 33 cases and five deaths recorded statewide throughout all of 2025. Severe weather events involving significant flooding, including hurricanes Helene and Ian, have previously been associated with elevated rates of illness and death tied to the bacterium, since flooding can push contaminated water into new areas and increase human exposure.
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Although infections remain rare, they can escalate rapidly into serious, life-threatening illness, particularly in people with weakened immune systems. According to the Centers for Disease Control and Prevention, roughly one in five people who contract the infection will die, and severe illness or death can occur within just a few days of exposure.
Vibrio vulnificus causes what the Cleveland Clinic describes as the most serious forms of vibriosis among the various types of vibrio bacteria capable of infecting humans. The infection can rapidly produce tissue damage, spreading blisters, low blood pressure, fever, organ damage, sepsis and death. The bacterium is often described as “flesh-eating” because it can also trigger necrotizing fasciitis, a severe bacterial infection that destroys muscle and skin tissue, causing the flesh surrounding a wound to die, according to the CDC, though Vibrio vulnificus is not considered the most common overall cause of necrotizing fasciitis cases in the United States.
Nationally, the CDC reports an average of 100 to 200 cases of vibriosis caused specifically by Vibrio vulnificus each year, with the overwhelming majority occurring in Gulf Coast states. Infections caused by other, generally less severe types of vibrio bacteria are considerably more common, accounting for roughly 80,000 cases annually across the country.
The bacterium requires salt water to survive and thrives specifically in warm, brackish water, the kind found where a river or stream meets the sea, according to the CDC. Most human infections occur either when contaminated water is swallowed or when it comes into contact with an open wound, such as a cut or scrape. The bacterium can enter the body through broken skin but cannot penetrate skin that remains fully intact. Infections can also occur through consumption of raw or undercooked shellfish, particularly oysters, with raw oysters, other raw seafood and direct seawater exposure representing the most common sources of vibrio outbreaks tracked by the CDC. Once inside the body, the infection can spread to the bloodstream and internal organs within a matter of hours.
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Symptoms of a Vibrio vulnificus infection typically develop suddenly, usually within 24 hours of exposure, according to the CDC and the Cleveland Clinic. Common symptoms include fever and chills, a red, warm or swollen patch of skin that spreads quickly and causes significant pain, fluid-filled blisters and skin discoloration, nausea, vomiting and diarrhea, low blood pressure often signaled by weakness, dizziness, fatigue or fainting, confusion or an altered mental state, and a rapid heartbeat.
Health officials have outlined specific steps the public can take to reduce their risk of infection while enjoying coastal waters and seafood during the remainder of the summer. When consuming seafood, the CDC recommends cooking all seafood, including oysters, before eating it, thoroughly cleaning any surfaces that come into contact with raw seafood or its drippings, and thoroughly washing hands after handling raw seafood, with gloves recommended for those at higher risk of severe infection.
For swimming and other water activities, the CDC advises avoiding entry into salt water or brackish water with any open wounds, a category that includes recent surgical sites, fresh tattoos or piercings, and even minor cuts or scrapes. People who may come into contact with coastal waters or raw seafood, even without planning direct exposure, are advised to cover any open wounds beforehand, since exposure can also occur unexpectedly during storm-related flooding. Anyone who does come into contact with coastal water or raw seafood should immediately wash any exposed area of open skin with soap and running water. People at increased risk of severe infection, including those with weakened immune systems and underlying conditions such as liver disease, diabetes or kidney failure, are advised to wear protective shoes and clothing when in or near coastal waters.
While health officials emphasize that the overall risk to the general public remains low, they have encouraged people in coastal areas, particularly those with compromised immune systems or chronic health conditions, to exercise additional caution during the remaining weeks of summer, when warm coastal waters continue to create favorable conditions for the bacterium.
This refers to ‘We withdrew stimulus last year!’ (ET, Mar 4). TT Ram Mohan has rightly suggested that the tax-GDP ratio measures structural improvement. The FM must rethink his medium-term debtto-GDP target. Losing substantial revenues by cutting I-T rates seems odd. If oil breaches $75-80, the FM will have to hike petroproduct prices and borrow more. Most sectors like FMCG are raising prices sharply due to hikes in excise duties and fuel taxes. Macro-economic conditions like hefty government borrowings, tight monetary control and a fiscal strategy relying on uncertain disinvestment/spectrum auction proceeds, will impinge on private investments in 2010-11. D B Naik Mumbai, March 4
Dubai International Airport is open and operating on Saturday, with flights running across all three of its terminals, even as a European aviation safety warning covering United Arab Emirates airspace remains in effect and several major foreign carriers continue to suspend their Dubai routes.
UAE airspace itself remains fully open, and Dubai, Abu Dhabi and Sharjah airports are all operating, according to travel monitoring service Wego. Emirates, Etihad Airways and Air Arabia continue running largely normal schedules out of Dubai and Abu Dhabi, while flydubai is operating with some reduced capacity and rerouted services in certain markets. The distinction between UAE-based carriers, which set their own independent risk assessments through the country’s General Civil Aviation Authority, and foreign airlines governed by separate international regulators has become a defining feature of the current travel landscape across the Gulf.
The primary source of ongoing disruption traces back to a safety advisory issued by the European Union Aviation Safety Agency. EASA’s Conflict Zone Information Bulletin, first issued July 14 and subsequently revised on July 22, instructs all EASA-regulated airlines to avoid flying within UAE, Bahrain, Kuwait and Qatar airspace at any altitude, along with a defined portion of the Gulf of Oman, citing risks tied to missile, drone and combat aircraft activity linked to the breakdown of the earlier U.S.-Iran ceasefire. EASA said the bulletin’s validity has been extended through August 31, with “no changes to the content or recommendations” from the version issued in mid-July, according to Gulf News. A separate advisory issued the same day recommends that airlines also avoid flying through Jordanian airspace through the same date.
It is important to note that the EASA bulletin functions as safety guidance for airlines rather than an announcement that Dubai’s airport is closed. The advisory recommends that covered operators avoid the affected airspace and continue monitoring national aviation authorities’ own instructions and notices, but it does not represent a closure of UAE airports or airspace by local Emirati authorities, who retain independent control over their own national airspace management.
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That regulatory split has produced starkly different responses among airlines serving Dubai. Thirteen international carriers, including British Airways, Singapore Airlines, Air Canada and members of the Lufthansa Group, have extended their Dubai flight suspensions well into the fall, according to travel industry reporting. KLM extended its Amsterdam-to-Dubai suspension through August 23. Singapore Airlines confirmed its Singapore-to-Dubai flights will remain canceled through October 24. Cathay Pacific postponed its daily Hong Kong-to-Dubai service from September 1 to October 25. Aegean Airlines has canceled its Dubai flights through August 31. By contrast, UAE-based carriers, including Emirates, Etihad Airways and flydubai, have continued operating the substantial majority of their international networks out of Dubai and Abu Dhabi throughout the same period.
EASA’s guidance has cited a range of specific risk factors underpinning its continued advisory, including what the agency described as “unpredictable military developments, combined with the possible use of missiles, drones, combat aircraft and air-defence systems” creating elevated risk to civil aviation at all altitudes within the covered airspace. The current advisory follows an earlier period of relative de-escalation in early July, when EASA had briefly downgraded its broader Middle East warning to a lower-level information note, only to reinstate the stronger non-operational recommendation on July 14 after Iran fired ballistic missiles at a U.S. air base in Jordan.
Dubai International Airport, the world’s busiest airport by international passenger volume, welcomed a record 95.2 million passengers in 2025 and remains the primary hub for both Emirates and flydubai. Travelers are advised to confirm their specific departure terminal directly through their booking or airline app before heading to the airport, since terminal assignments can shift during periods of disruption. Terminal 1 serves more than 50 international carriers and connects to the airport’s D Gates via an internal train. Terminal 2 handles regional, international and charter flights, including many flydubai services, though it operates separately from Terminals 1 and 3 and lacks a dedicated metro station. Terminal 3 primarily serves Emirates, along with select flydubai, United and Air Canada flights, and includes a Dubai Metro Red Line station along with sleep pod facilities in several of its gate areas.
Airlines continuing to operate through Dubai have urged passengers to build additional time into their travel plans given the ongoing disruption. FlyDubai has specifically advised passengers traveling during the busy summer period to arrive at Dubai International Airport at least four hours before their scheduled departure, citing both longer processing times and the possibility of short-notice schedule adjustments tied to the evolving regional security situation.
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With the EASA advisory now extended through the end of August and foreign carrier suspensions stretching into the fall for some airlines, travel monitoring services continue to emphasize that passengers should verify their individual flight status directly with their airline before departing for the airport, given how frequently conditions affecting specific routes and carriers have shifted throughout the summer amid the broader regional conflict.
New York City Mayor Zohran Mamdani was not invited to deliver remarks at the funeral of Army Sgt. Angel Sarah Rampersad on Friday, despite having prepared a eulogy in advance, according to sources who attended the service in Ozone Park, Queens.
Mamdani sat in the fourth row of Calvary Assembly of God, reviewing his planned remarks on an iPad while New York Gov. Kathy Hochul, Queens Borough President Donovan Richards and other officials were called to speak, according to a source who was present at the funeral. “They kept calling names and then he was never called,” the source said. “Then he looked over at his staff, frustrated and seemed angry that he didn’t speak. When he realized his name wasn’t being called, he looked at his staff angrily and then eventually put his tablet away.”
Sources involved in the funeral’s planning offered differing explanations for why the mayor was not asked to speak. One source close to the planning process said Rampersad’s family holds politically conservative views and specifically did not want Mamdani, an avowed democratic socialist who has been sharply critical of Israel and the U.S. war against Iran, to address the service. “The family is more conservative and wanted to limit any political distractions,” the source said.
Rampersad, 28, grew up in an Ozone Park family and graduated from John Jay College of Criminal Justice before enlisting in the Army, following in the footsteps of an uncle who had also served. She was among three U.S. soldiers killed July 17 during an Iranian missile attack on the Muwaffaq Salti Air Base in Jordan.
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It remains unclear whether Mamdani visited Rampersad’s family in the days following her death, a gesture that has traditionally been customary for New York City mayors following the death of a local service member. No visit appeared on his official public schedule or across his social media accounts in the days between Rampersad’s death and Friday’s funeral. During that same period, Mamdani participated in a sightseeing tour aboard a double-decker bus as part of a housing-related press event and gave interviews to several national publications.
Despite not speaking at the funeral, Mamdani’s press office distributed his planned remarks afterward, labeling them “remarks as prepared.” The prepared eulogy read, in part, “It is often said that our fallen ‘gave their tomorrows for our today.’ Sergeant Rampersad had tomorrows waiting for her: birthdays, ordinary mornings, evenings spent with her loved ones. But she gave every one of them up so that we could have ours — so that we could stand here today, safe and protected.”
Hundreds of family members, neighbors, fellow soldiers and community members attended the funeral, where mourners wiped away tears as Rampersad’s favorite gospel songs played throughout the church. Daisy Davis-Credle, president of the Queens Sunday School Association, reflected on Rampersad’s character following the service. “She could talk to people in her rank, above her rank, and they would accept it since it was the way she did it,” Davis-Credle said. “It’s not what you do, it’s how you do what you do. And she knew how to do that — they listened to her.”
Hochul delivered remarks during the service, describing a personal connection to Rampersad despite never having met her. “I feel after reading and admiring this woman from a distance, I feel like she could be one of my daughters,” Hochul said. Other speakers included Ozone Park Residents Block Association President Sam Esposito, state Sen. Joseph Addabbo Jr., a Queens Democrat, and Richards.
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Mamdani was seated near first-term City Councilman Frank Morano, a Staten Island Republican who is not considered an ally of the mayor, during the service. Morano said he was surprised by the decision not to have Mamdani speak. “I was surprised the mayor didn’t speak,” Morano said. “I didn’t understand why they would have lower-level officials speak and not the mayor.”
Following the service, NYPD officers carried Rampersad’s coffin from the church to a hearse, which then joined a blocks-long police procession en route to her final resting place on Long Island.
The episode adds to a period of broader political scrutiny facing Mamdani, who has faced criticism in recent days over his handling of other city matters, including an ongoing Legionnaires’ disease outbreak that has been linked to seven deaths. City Hall did not respond to multiple requests for comment regarding Friday’s funeral and Mamdani’s absence from the program of speakers.
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