Trump says US economy is in 'transition stage', boasts 'strong' job numbers
President Donald Trump on Friday said the US economy is in a transition stage, citing strong employment and his tariff plan while reiterating his call for the US Federal Reserve to lower its interest rate.
“We’re only in a transition stage, just getting started!” he said in a Truth Social post. The post followed the release of US data that showed job growth slowed marginally for April.
Shortly after the data was published, Trump took to his Truth Social account to talk up the “strong” employment figures.”Just like I said, and we’re only in a TRANSITION STAGE, just getting started!!!” the US president said.
Add Your HIndia emerges as Apple’s new manufacturing hub: US iPhone production likely to shifteading Text Here
According to a report published by the Financial Times, the decision is in line with Apple’s broader strategy to reduce its reliance on China amidst ongoing geopolitical tensions and trade uncertainty.
While the final roadmap will depend on how swiftly India can scale up its local supply chain infrastructure, initial developments are already underway. Apple’s key contract manufacturer, Foxconn, is spearheading efforts from its plant near Bengaluru, which is expected to begin full-scale operations this month. Sources reveal that the facility may eventually roll out as many as 20 million iPhone units annually.
Industry insiders told that Tamil Nadu-based Foxconn has already accounted for nearly 50 percent of Apple’s overseas shipments from India, with exports showing an impressive 40 percent year-on-year surge.
Over the past year alone, iPhones worth $22 billion have been assembled in India, placing the country firmly on Apple’s global production map. Currently, nearly 20 percent of Apple’s total iPhone output originates from India.
Experts say the shift in manufacturing strategy underlines a broader recognition of India’s economic potential. “With production ramping up and domestic demand booming, India is no longer just a secondary market — it is fast becoming central to Apple’s global game plan,” one expert noted.
The move also aligns with Prime Minister Narendra Modi’s vision of ‘Make in India’, as the government continues to woo global electronics manufacturers with incentives and policy support.
If plans materialise as expected, India could soon hold the pride of assembling every iPhone sold across the United States — a testament to the country’s rising stature in the global tech ecosystem
Cineworld companies have restructuring plans approved by High Court judge
The court in London was previously told the four companies would be likely to enter administration if the plans were not approved.
Four companies which form part of troubled cinema operator Cineworld have had restructuring plans approved by a High Court judge, staving off the threat of administration.
Cine-UK Ltd, Cineworld Cinemas Ltd, Cineworld Cinema Properties Ltd and Cineworld Estates Ltd, which are parts of the UK arm of the world’s second-largest cinema chain, were at risk of entering administration if the restructuring was not approved, the court heard.
The approval means that £16 million of new equity funding from the companies’ indirect parent firm will be released to fund their immediate financial needs, with further funds of up to £35 million also to be made available.
Cineworld to shut six more cinemas after restructuring
The cinema group has already closed five cinemas this year as part of a shake-up of its UK operations.
Cineworld is to shut six more of its cinemas (Mike Egerton/PA) (PA Archive)
Cineworld has said it will shut another six of its cinemas following a major restructuring process.
The cinema chain revealed the fresh closures after formally completing a restructuring plan it launched in the summer to shore up its finances, which had already seen it shut five cinemas.
It has now said it will also close six more locations; Castleford, Leigh, Middlesbrough, Northampton, Poole and Weymouth.
