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The Guardian

Trump’s policy mayhem is making even the Maga faithful consider walking away

About 56% of respondents who identified as members of the Maga coalition said they were either having trouble meeting their debt payments or worried they would be struggling soon. Photograph: Mark Makela/Getty ImagesView image in fullscreenAbout 56% of respondents who identified as members of the Maga coalition said they were either having trouble meeting their debt payments or worried they would be struggling soon. Photograph: Mark Makela/Getty ImagesUS economyAnalysisTrump’s policy mayhem is making even the Maga faithful consider walking awayEduardo PorterEven voters who identify as foot soldiers of his political army are increasingly willing to blame Trump for their economic troubles The political consequences of Donald Trump’s policy mayhem are now coming into view: “Maga” America is getting pissed. It has been a sight to see how every one of the president’s policy initiatives has sabotaged some core constituency or other. From farmers and rural Americans to manufacturing workers and every American struggling to make ends meet, Trump has torched pretty much his entire political base. For all his efforts to rig the midterm elections in his favor, it’s as if he is daring the Maga faithful to drop him. And now, according to the most recent survey by Harris for the Guardian, even voters who identify as foot soldiers of the president’s political army are becoming impatient with the state of affairs, increasingly willing to blame the government for their economic troubles. About 56% of respondents who identified as members of the Maga coalition said they were either having trouble meeting their debt payments or worried they would be struggling soon. The same share admitted similar troubles meeting housing payments. Fifty-seven per cent said the same about affording healthcare costs. Fifty-eight per cent claimed the same about their utility bills, 61% about affording groceries, 63% about paying for gas. Many of these stressors stem from Trump’s policy preferences. Trump’s decision to end government subsidies is largely at fault for the rising cost of health insurance. The rise in energy costs and rebound of inflation since March are direct consequences of Iran’s throttling of the strait of Hormuz. Resurgent inflation interrupted the Federal Reserve’s campaign to ease monetary policy and interrupted the gradual decline in mortgage rates. Manufacturers have culled nearly 100,000 jobs since Trump took office, in part due to Trump’s tariffs. Farmers have been whacked by higher costs of energy, fertilizer and machinery. Rural Americans voted for Trump by a margin of 40 percentage points in November of 2024. According to the Harris poll for the Guardian, 49% of them now say their personal financial security is getting worse. That is even more than the 42% of Americans in rural areas who claimed their personal finances were deteriorating in the Harris poll taken in April last year, a few weeks after “liberation day”, when Trump imposed tariffs on everybody and sent financial markets around the world into a tailspin. Similarly, in the latest poll, 45% of Americans with less than a four-year college degree reported a worsening financial situation, up from 42% in April of 2025. These constituencies are at the core of the Maga movement. And they are losing patience with the justifications for Trump’s destructive policies: 54% of Maga faithful think the government is the most responsible for the rising prices of goods and services. Contrary to the repeated claims from the White House, 41% of them believe economists’ observation that American consumers bear most of the costs of Trump’s tariffs. Only 31% buy Trump’s argument that foreigners pick up the tab. Maga voters have not abandoned the president. By recent counts, 62% of rank-and-file Republicans identify as Maga, up from only 38% in September of 2022. 57% of them trust that the government considers the affordability crisis a top priority. And 69% believe the government is capable of fixing it. Still, misgivings are creeping in: just over a third of Maga faithful think the government has made it worse. Beyond the growing angst among Trump’s most loyal followers, what should most worry the president is the brewing discontent outside the borders of his base, which is still a minority of the overall electorate. If Maga Republicans are finding themselves at odds with their leader, other voters – including many Republicans – have an even more jaundiced view of his endeavors. The share of Republicans – Maga or not – who believe the economy is getting worse hit 38% in the latest Harris poll, up from 33% of Republicans surveyed in April last year. The share of Republicans who think the economy is getting better declined from a year ago, from 31% to 27%. The opinion of independent voters is probably the best barometer of where the electorate, on average, will land in the fall. Forty-four per cent think their financial security is deteriorating, almost three times the share who believe it is getting better.

Trump’s policy mayhem is making even the Maga faithful consider walking away
North America
CNBC Finance

Delta expects higher airfare to last, bringing 2026 profit goal in reach, CEO says

Delta Air Lines' profit goal is in reach this year as the carrier passes along higher fuel costs to customers, pricing power CEO Ed Bastian expects to last even as oil prices drop from multiyear highs. "I think it's sustainable," Bastian told CNBC in an interview. He said fares will likely stay strong thanks to robust demand, more diverse seat options, and a more disciplined airline industry that's learned from the past and isn't likely to expand capacity as soon oil falls. Delta on Friday forecast third-quarter per-share earnings of between $2.00 and $2.50, compared with analysts' estimates of $2.02 a share for the period. The company also projected revenue would be up in the mid-teens compared with the July-through-September period of 2025. For the full-year, the carrier reaffirmed its January per-share earnings forecast of between $6.50 and $7.50. Bastian said demand is strong across the board, noting that Delta, the most profitable U.S. airline, caters to higher-income customers in the K-shaped economy. Indeed, its premium seat sales outpaced the back of the plane in coach. Its premium tickets like first class brought in $6.92 billion in revenue for the quarter, while the main cabin reported $6.85 billion in revenue. Bastian said World Cup demand was stronger than expected, including from inbound visitors to the U.S. In an earnings release, the airline also said corporate travel rose in the second quarter, with the aerospace and defense, banking, and automotive sectors leading growth. Carriers have scaled back growth plans and pruned unprofitable flights after this year's record run-up in fuel, and airfares have surged. According to the latest federal data, May airfare was up nearly 27% compared with last year, though executives say they still haven't passed the entirety of the higher fuel bill on to consumers. Bastian said Delta was passing along about 60% to consumers, and that should get to close to 100% this quarter. Delta's second-quarter revenue per available seat mile, a measure of how much an airline is bringing in for each seat it flies, was up 17% from a year earlier, though its cost-per-available seat mile rose 21%. (Delta has other revenue streams including cargo, a maintenance business and its fuel refinery.) Delta's net income dropped 25% in the second quarter from a year earlier to $1.6 billion, or $2.44 a share, though operating revenue was up 19% from the 2025 period to $19.76 billion. Adjusting for one-time items including third-party refinery sales, Delta posted earnings of $1.03 billion, or $1.56 a share. Delta's refinery was also a bright spot, with revenue in the Trainer, Pennsylvania, facility surging 83% to $2.09 billion. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Delta expects higher airfare to last, bringing 2026 profit goal in reach, CEO says
North America
CNBC Finance

Private chef salaries reach $300,000 as the rich seek their own Michelin stars

Private chefs are making up to $300,000 a year, and butlers can earn as much as $180,000 as the wealthy hire more household staff to manage their increasingly complex lives, according to a new study. Demand for chefs, personal assistants, butlers, nannies, housekeepers, chauffeurs and estate managers have reached records as the wealthy buy more homes in various locations and manage ever-growing families, according to a report from Morgan & Mallet International. The hiring boom has created a war for talent, driving up salaries and increasing job-hopping by household staff. "Many clients are surprised by the rising cost of household services," the report said. "The reality is that securing quality staff with proven experience has become increasingly difficult, pushing wages for the best candidates to record highs globally." House managers have the fastest-rising salary among household staff, driven by the growing real estate portfolios of the rich and shrinking pool of good candidates, according to Laurine Mallet, co-founder of Morgan & Mallet. The market for private chefs is especially hot. In the U.S., private chefs can now earn between $100,000 and $300,000, according to the report. Ultra-wealthy families increasingly want to hire Michelin-starred chefs to cook for them at home so they can avoid the crowds and public attention of top restaurants, the report said. Celebrity chefs command the highest premiums, while chefs trained in special diets – like celiac-safe cooking – can also "name their price," the report said. Nannies who speak three languages and have experience caring for children with special needs are also in especially high demand. Traveling nannies are coveted but rare, with some making up to $163,000 in the United Arab Emirates, according to the report. In the U.S., the most requested position from employers is personal assistants. Executive assistants and personal assistants can earn up to $250,000 a year, Morgan & Mallet found. Privacy, discretion and tech skills are now core hiring requirements, according to the report. In Los Angeles, 77% of personal assistants hired required nondisclosure agreements. Strict bans on social media are now common for all household staff positions. In the past, household staff would often work for the same employer for decades. Now, the average tenure with an employer is three years, according to the report. With the wealthy increasingly moving between homes and gaining residencies in multiple countries, they want Western passport-ready staff. Skilled estate managers are becoming especially difficult to find, since they are often required to manage more than three properties in multiple countries and legal frameworks, according to the report. In the U.S., household managers can now make between $150,000 and $250,000, it found. Butlers, once portrayed as buttoned-up, silver tray-carrying domestics, now manage complex staff, technology, security and logistics across multiple properties. Their salaries can be as high as $180,000. "Clients want efficient service with less formality," the report said. "Discretion, confidentiality, and trustworthiness are the most important qualities. Adaptability, flexibility, and strong people skills matter too."

Private chef salaries reach $300,000 as the rich seek their own Michelin stars
Europe
The Guardian

New York City becomes first in the US to ban deceptive subscription practices

Zohran Mamdani stands next to Sam Levine, commissioner of consumer and worker protection, at a press conference in New York on 21 January 2026. Photograph: Anthony Behar/Sipa US via AlamyView image in fullscreenZohran Mamdani stands next to Sam Levine, commissioner of consumer and worker protection, at a press conference in New York on 21 January 2026. Photograph: Anthony Behar/Sipa US via AlamyConsumedNew YorkNew York City becomes first in the US to ban deceptive subscription practicesRule from Mamdani administration bans companies from trapping customers into paying recurring charges and ‘junk fees’ New York City has adopted a new rule that bans companies from using deceptive subscriptions to trap customers into paying for gym memberships, streaming services and other recurring charges, the city’s consumer protection office said. The new rule, which will start on 1 October, promises hefty fines and aggressive enforcement for violators. Companies that do not provide a simple way to cancel could pay $525 per user subscription, back fees and additional fines. The city is also targeting so-called “junk fees” that raise the final price of everything from apartments to sporting events, with a proposed rule that requires sellers to “advertise the total price for any good or service, including all mandatory additional charges and fees, up front”, according to a release shared with the Guardian. “People shouldn’t have to wait on hold for half an hour or send a certified letter or show up to a store in person in order to cancel” a subscription, said Samuel AA Levine, the city’s commissioner of consumer and worker protection, in an interview. The proposed fee rule could have an especially wide effect, sending ripples through New York’s expensive housing market, where about 70% of residents rent. Apartment renters in the US face a rising tide of add-on fees such as “boiler management” and “lifestyle” charges from management companies, which make true rental costs hundreds of dollars higher than the price stated on real-estate company websites. If the proposed renters rule passes after public comment and hearing, any mandatory fees, including annual ones, would need to be included in the stated monthly rental price, Levine said. The current situation creates “a scenario where rather than competing on price, companies are competing on their ability to hide the true price. That’s the worst kind of incentive” – and one that deeply distorts the market, Levine said. The moves are part of an aggressive push by Zohran Mamdani and Levine, a former head of consumer protection in the Federal Trade Commission (FTC), to rein in what they see as predatory corporate malpractice nationwide. “In the dawn of the [Ronald] Reagan era, the FTC and others in Washington said expressly that … markets could correct themselves, regulate themselves, they were going to stop writing rules,” and allow companies to police their own behavior, Levine said. “What it has gotten us is 40 years of deceptive pricing,” he said. Bans on junk fees and subscription traps are generally popular with consumers, but have been fought aggressively by industry groups. When the Biden administration introduced a junk fee rule in 2024, the US Chamber of Commerce argued it was “an attempt to micromanage businesses’ pricing structures”, and apartment fees were cut from that federal rule after lobbying by the real-estate industry.

New York City becomes first in the US to ban deceptive subscription practices
Europe
The Guardian

Democratic Texas AG candidate claims $110m in grants for Elon Musk’s Starlink ‘sure looks’ like corruption

Nathan Johnson, who is running for the Texas attorney general seat, on 3 September 2025 in Austin, Texas. Photograph: Eric Gay/APView image in fullscreenNathan Johnson, who is running for the Texas attorney general seat, on 3 September 2025 in Austin, Texas. Photograph: Eric Gay/APTexasDemocratic Texas AG candidate claims $110m in grants for Elon Musk’s Starlink ‘sure looks’ like corruptionNathan Johnson says if elected he’ll investigate state’s deal with Elon Musk’s SpaceX to provide rural internet A Texas Democrat running to become the state’s attorney general has said he will investigate Elon Musk’s SpaceX company if elected, saying it “sure looks like” corruption was involved in a deal he said handed the world’s richest person $110m of taxpayers’ money. Nathan Johnson made the comment in an interview with the Dallas News on Friday, in which he called for greater legislative scrutiny of state grants funneled to SpaceX for its Starlink satellite program, which provides fast internet access for customers in remote areas. Johnson, who won the Democratic primary runoff for attorney general in May, said the award by Texas Republicans of 99% of the available grant funds to a company led by billionaire Musk, a Donald Trump ally, was lopsided. “I am not declaring that corruption was at work in this instance. I am saying that it sure looks like it,” Johnson, a state senator, told the Dallas News. “Public confidence in the bidding process has been undermined.” During his primary campaign, Johnson promised to overhaul the office of the Texas attorney general, a position currently held by Ken Paxton, the scandal-ridden hardline Republican recently nominated by his party to run for the US Senate in November’s midterms. He has said he will work closely with the state comptroller to audit how government contracts are awarded. The Starlink grants, signed off by the Republican Texas governor, Greg Abbott, after his office reportedly revised rules to favor low-Earth-orbit satellite providers in bids to provide rural internet access, have become a particular source of controversy. Records show Musk has made previous monetary donations to Abbott, among many others, but there is no suggestion it is linked to the grants. Johnson questioned members of the Texas broadband development office (BDO) at a hearing of the state senate’s business and commerce committee in June, at which they conceded changes to the grant-awarding process came at Abbott’s behest. “The office of the governor asked us to look at how our proposed structure compared to other states,” Bryant Clayton, director of the BDO, said, according to KUT News. “Generally … we were out of step with other nearby states.” Eight companies offering ground-based fiber broadband complained in a letter they appeared to have been cut out of the revised grant application process, a development the committee’s chair, Republican Charles Schwertner, seemed to acknowledge.

Democratic Texas AG candidate claims $110m in grants for Elon Musk’s Starlink ‘sure looks’ like corruption
Asia
The Hindu BusinessLine

Ryan Group of Institutions Launches Golden Jubilee Celebrations with Spectacular The Mumbai Revue at NMACC

MUMBAI, India , July 11, 2026 /PRNewswire/ -- Ryan Group of Institutions marked the beginning of its Golden Jubilee celebrations with the grand staging of The Mumbai Revue, an original musical production at the prestigious Studio Theatre, Nita Mukesh Ambani Cultural Centre (NMACC), Mumbai, on 7 July 2026. Presented as the opening event commemorating 50 years of educational excellence, the production brought together exceptionally talented students from Ryan campuses across Mumbai in a vibrant celebration of music, theatre and storytelling. More than a performance, The Mumbai Revue was the culmination of an intensive four-day Performance Lab, where students underwent professional musical theatre training under the guidance of internationally trained multidisciplinary artist and director Tiara Oberoi. In the days leading up to the production, 28 Ryan students participated in the immersive Performance Lab, a four-day musical theatre intensive designed to introduce young performers to the discipline, rigour and standards of professional theatre. The programme focused on acting, vocal performance, movement, stagecraft, audition techniques and ensemble rehearsals, equipping students with skills that extended far beyond the stage. The training culminated in the live staging of The Mumbai Revue, marking the directorial debut of Tiara Oberoi, with live musical accompaniment by pianist Anaya Grace . The students opened the evening with a spirited rendition of "Any Dream Will Do," setting the tone for an engaging musical journey that featured eight songs seamlessly woven into the production. Under Tiara's creative direction, the young performers delivered a polished and emotionally engaging showcase with dynamic choreography, powerful vocals and compelling storytelling. Under Tiara's creative direction, the students delivered a polished and emotionally engaging performance featuring dynamic choreography, powerful vocals and compelling storytelling. The packed auditorium responded with enthusiastic applause and standing ovations, recognising the remarkable confidence, discipline and professionalism displayed by the young performers. The production set a new benchmark for performing arts education within schools while reaffirming Ryan Group's commitment to nurturing talent through world-class learning experiences. A highlight of the evening was Tiara Oberoi's moving solo rendition of She Used to Be Mine from the Broadway musical Waitress, accompanied live by pianist Anaya Grace . The performance captivated the audience and reflected the artistic excellence that defined The Mumbai Revue. Through her international expertise and creative mentorship, Tiara inspired students to perform with confidence, discipline and passion, making the production a truly memorable celebration of young talent. For five decades, the Ryan Group of Institutions has remained committed to providing students with opportunities that extend beyond the classroom, encouraging excellence in academics, sports, leadership and the performing arts. As the Group embarks on its Golden Jubilee year, The Mumbai Revue stands as a powerful reflection of its enduring philosophy of holistic education—where creativity, collaboration and confidence are nurtured alongside academic achievement. The production celebrated not only Ryan Group's remarkable legacy but also its vision for the future—one where students are empowered with global exposure, meaningful artistic experiences and the confidence to thrive as compassionate, future-ready global citizens. Celebrating 50 years of educational excellence, the Ryan Group of Institutions is one of India's leading K–12 education networks, with over 150 schools across India and abroad. Renowned for its holistic approach to education, the Group integrates academics with sports, performing arts, leadership, innovation and community service, empowering students to become confident, compassionate and future-ready global citizens. “This is a company press release that is not part of editorial content. No journalist of The Hindubusinessline was involved in the publication of this release.”

Ryan Group of Institutions Launches Golden Jubilee Celebrations with Spectacular The Mumbai Revue at NMACC
Asia
The Economic Times

Midcap bets! InCred picks 6 stocks with up to 54% upside potential. See full list

Amid a volatile 2026 marked by persistent FII selling and inflation concerns due to the West Asia crisis, InCred Equities sees selective opportunities emerging within the midcap space. In a recent report, the brokerage shortlisted 6 stocks across multiple sectors that it believes offer attractive value and the potential to deliver returns of up to 54%. Here’s the full list: InCred Equities has a target price of Rs 17,350 on APAR Industries, implying an upside of 23% from its current market price of Rs 14,070. InCred Equities has assigned a target price of Rs 705 to Container Corporation of India, indicating a potential upside of 54% over its current market price of Rs 457. Tenneco Clean Air India has a target price of Rs 686, suggesting an upside of 17% from its current market price of Rs 584, according to InCred Equities. InCred Equities has set a target price of Rs 1,450 for Home First Finance Company India, implying a potential upside of 21% from its current market price of Rs 1,202. Diamond Power Infrastructure has a target price of Rs 300, which translates into an upside of 25% over its current market price of Rs 239, according to InCred Equities. InCred Equities has a target price of Rs 1,650 on Aavas Financiers, indicating a potential upside of 9.6% from its current market price of Rs 1,505.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Midcap bets! InCred picks 6 stocks with up to 54% upside potential. See full list
Asia
The Hindu BusinessLine

Nifty and Nifty Bank Prediction for the week 13-Jul’26 to 17 Jul’26 by BL GURU

The inverted head and shoulder pattern on the #Nifty that we had indicated last week has gone wrong. However, the strong bounce towards the end of the week keeps the broader picture positive. So, there is not major change in our overall bullish view on the Nifty. All that is it is taking slightly a much longer time for our bullish view to happen. Nifty Bank index is likely to make a bullish breakout above 58,900 and rise to 60,500-61,500. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Nifty and Nifty Bank Prediction for the week 13-Jul’26 to 17 Jul’26 by BL GURU
Asia
The Hindu BusinessLine

15 people, including Indian tourists, feared dead in Vietnam boat capsize incident: local media

Ambulances line up on a pier to help victims of a boating accident after a tourist vessel capsized off Phu Quoc Island in southern Vietnam's An Giang Province on July 11, 2026. At least 15 people were killed when a tourist boat capsized off an island in Vietnam's south, state media reported on July 11 Fifteen people, including Indian tourists, are feared dead in a boat capsize incident near Vietnam's Phu Quoc Island on Saturday, according to a local media report. According to Vietnamese news portal VN Express International, the speedboat was carrying 32 Indian tourists and four crew members from Hon May Rut to An Thoi Port when it capsized about 400 metres off Hon May Rut Ngoai, throwing everyone on board into the sea. Citing initial information from authorities in the Phu Quoc Special Economic Zone, the news portal said nearby tourist boats rushed to assist before border guards, the navy, the coast guard and other forces joined the search-and-rescue operation. Earlier, the Indian Embassy in Hanoi said that it set up control rooms as search and rescue operations would continue. "In a tragic incident, a boat carrying several Indian tourists has capsized near Phu Quoc Island in Vietnam," the embassy said in a post on X. It said control rooms have been established at the Consulate General of India in Ho Chi Minh City and at the Embassy in Hanoi to provide information and assistance. The first control room can be reached at: +84 36 281 7930, +84 91 552 37 14 and +84 33 452 0414. The other one in Hanoi can be reached at: +84 91 308 9165. They are available for any assistance and queries, the Indian mission said. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

15 people, including Indian tourists, feared dead in Vietnam boat capsize incident: local media