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Trump promised retribution – how far will he go?

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imageAnthony Zurcher profile imageAnthony ZurcherNorth America correspondent

imageBBC A treated image of James Comey and Donald TrumpBBC

Donald Trump swept back into the White House this year promising, among other things, retribution against his perceived enemies. Nine months later, the unprecedented scope of that pledge – or threat – is fully taking shape.

He has vocally encouraged his attorney general to target political opponents. He has suggested the goverment should revoke TV licences to bring a biased mainstream media to heel. He has targeted law firms he sees as adversaries, pulling government security clearances and contracts.

Trump’s moves have been conducted with the kind of open zeal – brazenness, his critics say – that might belie how dramatic and norm-shattering they are.

His demand a week ago that the Justice Department prosecute a handful of named political opponents, for instance, is the kind of thing that, when it was discussed in private and revealed in Oval Office recordings a half-century ago, prompted a bipartisan outcry that led to Richard Nixon’s resignation as president.

Now it is just a blip in the weekly news cycle. And the pace at which Trump is expanding presidential authority in order to impose his will is if anything accelerating.

On Thursday, Trump signed an order on “domestic terrorism and political violence”, saying it would be used to investigate “wealthy people” who fund “professional anarchists and agitators”. He suggested liberal billionaires George Soros and LinkedIn founder Reid Hoffman could be among them.

Then hours later, Trump’s Justice Department announced it had indicted James Comey, the former FBI director and Trump critic whom the president had said was “guilty as hell” days earlier.

imageGetty

Trump has justified a looming crackdown on left-wing groups by pointing to two recent, and shocking, acts of violence. First, the killing of conservative activist Charlie Kirk on a college campus, and then this week’s gun attack targeting immigration agents in Dallas, in which two migrant detainees were wounded and one killed.

The president says his broader blitz of action is necessary, and urgent. The investigations of political opponents, he says, are about targeting law-breakers and members of the “deep state” who undermined his first presidential term. The mainstream media, in the view of his Maga coalition, should be held to account over alleged bias and “fake news”. Private businesses weakened by diversity policies and political corruption require the firm hand of government to set them straight.

He and his supporters also accuse the Biden administration of being the real culprit behind any presidential norm-breaking.

During the Democrat’s four years in office, Trump was indicted four times and convicted once. Several of his close aides – including fomer 2016 campaign chair Steve Bannon and trade adviser Peter Navarro – were prosecuted and imprisoned for contempt of Congress. Others were indicted for their alleged role in attempting to overturn the 2020 presidential election.

imageGetty Images Biden smilingGetty Images

The Biden White House directed social media companies to restrict what it characterised as harmful speech during the Covid pandemic. And the president attempted to expand presidential powers to implement his agenda, including student loan forgiveness, vaccine mandates, protection of transgender rights in public schools and environmental regulation.

Turnabout, Trump’s side might say, is fair play – but the differences between the Biden actions and those being undertaken by this president are at times stark.

While Trump was prosecuted, only two of the cases were brought by the federal government and both by a special prosecutor set up to be independent of Biden’s justice department. Biden, unlike Trump, remained largely silent about the cases. Many of Biden’s executive actions were undone by the Supreme Court, which so far has given Trump a free hand to operate.

Such details may be of lesser concern to Trump, however, who has portrayed himself as a persecuted figure – and used this sense of grievance to connect with many of his voters, who share a similar sense of injustice at an establishment they view as tilted against them. And Trump may feel less restrained in his second term given that, last year, the Supreme Court held that US presidents, including Trump, are largely free from criminal liability for official actions they take.

A tale of two presidents

Underlying the entirety of the debate about presidential power and “retribution” has been a fundamental disagreement between Biden and Trump over the nature of the existential dangers facing America and the world.

The core belief among many in the top ranks of Trump’s White House is that America – and Western civilisation writ large – face a dire threat from leftist culture, mass migration, unbalanced global trade and intrusive government.

During a fiery speech on Sunday at the memorial service for slain conservative activist Charlie Kirk, longtime Trump adviser Stephen Miller – the architect of Trump’s immigration policies and one of his most vocal defenders – said that America’s legacy “hails back to Athens, to Rome, to Philadelphia, to Monticello”.

“You have no idea how determined we will be to save this civilisation,” he said. “To save the West, to save this republic.”

imageCHARLY TRIBALLEAU/AFP via Getty Image People gather at a makeshift memorial for Charlie Kirk outside of the Turning Point USA headquarters in Phoenix, ArizonaCHARLY TRIBALLEAU/AFP via Getty Image

This kind of outlook stands in sharp contrast to the one outlined by Biden during his presidential term. In his view, the defining fight of the era was not between Western civilisation and forces that would destroy it, but between democratic and authoritarian nations.

“We’re at an inflection point between those who argue that autocracy is the best way forward and those who understand that democracy is essential,” Biden said in 2021. “We must demonstrate that democracies can still deliver for our people in this changing world.”

Now, Trump’s critics say, the current president is more than just abandoning that fight. In their view, he is pushing the US towards authoritarianism.

How the US political landscape changed

The Comey indictment, for those who believe Trump is an aspiring autocrat, is only the latest example of this president targeting critics based on a sense of personal grievance and retribution.

In the days before Comey was charged with making a false statement to Congress and obstructing justice, Trump called on Attorney General Pam Bondi to prosecute not just the former FBI director but also New York Attorney General Letitia James and California Senator Adam Schiff – figures he has accused of conspiring against him.

“We can’t delay any longer, it’s killing our reputation and credibility,” he wrote. “They impeached me twice, and indicted me (5 times!), OVER NOTHING. JUSTICE MUST BE SERVED, NOW!!!”

imageReuters US President Trump Meets in WashingtonReuters

The federal prosecutor who had been investigating Comey and James resigned amid the pressure, and was replaced by a former personal lawyer to Trump. She is reported to have personally presented the Comey case to the grand jury – a panel of citizens who assess the strength of the case – that indicted him.

“This is unprecedented, to have the president basically direct his people to indict a specific individual because he’s angry at that person,” Laurie Levenson, a law professor at Loyola Marymount University, told the BBC.

Other prominent critics of the president have also faced investigations. In August, federal agents raided the home and office of John Bolton, a former Trump national security adviser turned sharp critic, as part of an inquiry into his handling of classified documents. John Brennan, head of the CIA during the Obama presidency, is reportedly also under investigation.

imageGetty Images Richard Nixon makes the 'v for victory' symbol.Getty Images

President Trump has also waged a campaign against major media outlets, which he has said are overwhelmingly critical of him in violation of federal law. He has sued the New York Times and Wall Street Journal for billions of dollars, after settling suits with both ABC News and CBS News.

Last week, even some high-profile Republicans cried foul after Brendan Carr, the head of the Federal Communications Commission, successfully urged local stations to drop one of America’s biggest late-night comedy shows over comments host Jimmy Kimmel had made about Charlie Kirk, his suspected killer and the way Trump had mourned him.

The president then doubled down, saying networks that give him “bad publicity” should perhaps be targeted.

Amid the furore, Texas Senator Ted Cruz compared Carr’s threats against media companies to mob tactics, while his colleague Rand Paul of Kentucky called them “absolutely inappropriate”.

Some on the left go much further, however, drawing dark comparisons to 1930s Germany. “Trump is the Hitler of our time,” was one of the chants protesters lobbed against the president when he dined with aides at a Washington restaurant last month.

“Anyone who thinks we’re on the way to authoritarianism is wrong,” Democratic Senator Chris Van Hollen of Maryland said this week. “We’re already there.”

The Trump administration says such warnings are not only unfounded but hysterical – the manifestation of “Trump derangement syndrome”. They draw a direct line between such criticism and recents acts of violence, including the killing of Kirk.

“If you want to stop political violence, stop telling your supporters that everybody who disagrees with you is a Nazi,” Vice-President JD Vance said this week.

imageReuters U.S. Vice President JD Vance listens as President Donald Trump delivers a speechReuters

The concept of “democratic backsliding” and whether it’s happening in the United States, however, does not have to rely on fraught debates referencing the rise of 20th Century fascism.

The Varieties of Democracy Institute based at the University of Gothenburg in Sweden conducts an annual survey of the state of government around the globe. It found that 72 percent of the world’s population now lives in autocracies – the highest level since 1978.

In 2024, 45 countries were moving toward more autocratic government across the globe, including in places like Hungary, Turkey, Mexico, Greece and Ghana.

In these nations, the patterns were similar – erosions in freedom of speech, open elections, the rule of law, judicial independence, civil society and academic freedom.

Governments expanded their power over institutions and individuals. It didn’t happen in the same order or at the same speed, but in the end the destination was the same.

According to the institute, the US has been demonstrating similar “concerning” trends – trends they say are moving at a pace unprecedented in modern American history.

imageEPA Protesters gather outside the US Supreme Court, Washington DC on 1 July 2024EPA

“The expansion of executive power, undermining of Congress’ power of the purse, offensives on independent and counter-veiling institutions and the media, as well as purging and dismantling of state institutions – classic strategies of autocratisers – seem to be in action,” its latest report, released in March, found.

“The enabling silence among critics fearful of retributions is already prevalent.”

‘I am your retribution’

At a March 2023 rally in Waco, Texas, Trump was beginning to find his footing in his bid to win back the White House. A week earlier, he had publicly speculated that he was on the verge of being indicted in New York for fraud over hush-money payments to former porn star Stormy Daniels before the 2016 election. Those charges, for which Trump would ultimately be convicted, were filed five days later.

On that sweltering afternoon before a crowd of around 15,000 loyal supporters, however, Trump delivered a series of promises.

“I am your warrior,” he said. “I am your justice. And, for those who have been wronged and betrayed, I am your retribution.”

imageGetty Images Donald Trump sits at the defendant's table inside the courthouse as the jury is scheduled to continue deliberations for his hush money trial at Manhattan Criminal Court on 30 May 2024 in New York City.Getty Images

The concept of retribution became a common theme for Trump on the campaign trail for the next year and a half. Sometimes he would say “success” would be his retribution. Other times, such as in a series of interviews following his May 2024 felony conviction, he was more blunt.

He told television psychologist Dr Phil that “sometimes revenge can be justified” and “revenge does take time”. And in answering a question about retribution posed by Fox News’s Sean Hannity, he said that he had every right to “go after” Democrats “based on what they have done”.

On Friday, Trump said the indictment of Comey was “about justice, not about revenge” but added that he expected “others” would follow.

“This is also about the fact that you can’t let this go on,” he told a pack of reporters at the White House. “They are sick, radical-left people and you can’t let them get away with it.”

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Kingspan chases Magnificent Seven energy with plan to float unit riding on AI boom

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Fed up with Kingspan shares drifting behind peers and the wider market, Gene Murtagh is seeking to tap into some of the energy of the Magnificent Seven (Mag-7), the US tech stocks that have driven a three-year bull run across global equity markets.

The Kingspan chief executive revealed on Tuesday that the insulation giant founded 60 years ago by his father, Eugene, plans to float 25 per cent of its advanced building systems unit Advnsys, which is focused on supplying the global data centres boom, in Amsterdam.

The mushrooming of data centres has been turbocharged by the artificial intelligence (AI) revolution that has driven the share prices in recent times of Mag-7 stalwarts such as chipmaker Nvidia, Microsoft, Google-parent Alphabet and Meta, owner of Facebook and Instagram.

Close to $7 trillion (€6 trillion) will need to be spent on data centres globally by 2030, driven by demand for hubs equipped to handle AI processing loads, McKinsey, the management consultancy firm, estimated in a recent report.

“We’re acutely cognisant of the fact that relevant sector peers – and these are not building sector peers, they’re tech-end peers that are supplying the data centre market – are trading at and above 20 times Ebitda,” Murtagh said on a call with analysts, referring to how others in the data centre space are being valued by the stock market at more than 20 times earnings before interest, tax, depreciation and amortisation. Valuing Advnsys along these lines would give it an initial market capitalisation of at least €6 billion.

Kingspan shares soar on potential €6bn flotation of unit riding data centres boomOpens in new window ]

Kingspan had lost more than a third of its market value in the four years before the move was announced – and was down 21 per cent on the year as it grappled with what Murtagh recently described as an ongoing “pretty unforgiving environment” for construction suppliers globally as households and businesses fret about a potential recession. The group is trading at about 10 times Ebitda – compared with its 10-year average of 13.5.

Compare that with Vertiv, an Ohio-based provider of critical infrastructure and services for data centres, whose stock has soared more than 400 per cent over the past four years.

Or with Trane Technologies, the Swords-headquartered but New York-listed maker of heating and cooling systems for commercial buildings, whose market value has more than doubled in the same period, to $90 billion, amid a surge in demand for its data centre air-cooling systems.

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The AI boom – like red-hot stock market trends before it – has attracted blatantly cynical pivots and rebrands from companies trying to jump on the bandwagon.

But Kingspan has been a supplier to the data centres market since before Murtagh became CEO 20 years ago. The new Advnsys unit being lined up for an initial public offering (IPO) – which combines its data centre solutions and light, air and water businesses into one – is a world leader in bespoke critical infrastructure primarily focused on data centres, ventilation and daylighting.

Kingspan trades profit for position in US roofing raceOpens in new window ]

While about 40 per cent of Advnsys’s earnings currently come from providing infrastructure to the tech sector, particularly to data centres, this is expected to grow to about 75 per cent of an even bigger business in the next three to five years, according to the group.

Citigroup analysts reckon the subsidiary could more than double its revenue and Ebitda between 2024 and 2030, to €3.2 billion and €525 million, respectively.

Shares in Kingspan jumped as much as 13.5 per cent to €74.85 on Tuesday morning, but have since handed back almost half their gains as some analysts urged caution.

“While we understand the [market] reaction, particularly in light of the stock’s weaker performance year-to-date, we do not yet understand how a partial IPO creates additional value, nor how the market will arbitrage valuation between the two businesses,” said JP Morgan analysts led by Elodie Rall in a note to clients.

Advnsys may attract a higher valuation multiple, but this is likely to be offset by the market giving the rest of the business – comprising insulated panels, other insulation solutions and its roofing and waterproofing unit – a lower one, she said.

Kingspan plans €650m share buy back as half year revenues rise 8% to record €4.5bnOpens in new window ]

Bernstein’s Pujarini Ghosh said the market excitement earlier in the week had been “overdone” and her €70 price target on the group points to almost 3 per cent downside from here. A listing of Advnsys in New York “could potentially have helped unlock greater value given the business mix will be more heavily skewed to the US”, she said.

About 45 per cent of the unit’s business is exposed to the US, but this is expected to rise well above 50 per cent in the coming years.

Murtagh said the decision to float on Euronext Amsterdam is down to the high level of trading in stocks in that market, a lack of stamp duty there, too, and how the same accounting standard (IFRS) applies to companies in the Netherlands and Ireland.

For sure, the level of trading in Euronext Dublin has slumped over the past five years amid a number of company exits and a dearth of fresh IPOs.

How Kingspan stands to benefit from AI boomOpens in new window ]

But to avoid the 1 per cent stamp duty applied to share trading in Irish companies, Kingspan will need to incorporate Advnsys as a public limited company – or naamloze vennootschap (NV) – in the Netherlands.

A nice bonus from the planned IPO is that it would, according to Murtagh. leave both Kingspan and Advnsys “essentially with zero debt” – giving them plenty of scope to invest and grow by acquisition.

Whereas Kingspan’s share price tends to move with the broader construction industry cycle, Advnsys’s stock will be far more sensitive to developments in AI, making it potentially much more volatile.

Chinese tech group DeepSeek, for example, showed the world earlier this year that its approach to generative AI needs just a fraction of the computing power of more prominent US tools, such as ChatGPT. Could demand for data centres decline as AI systems become more efficient?

One thing’s for sure: savvy investors in Advnsys in Amsterdam will have alerts set for anything coming from another company 9,000km away. For now, Nvidia in Santa Clara, California, remains the bellwether for all things AI.

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Brown Thomas and Arnotts sales up despite luxury goods slowdown and drop in US visitors

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The Irish company that runs the Brown Thomas and Arnotts department stores recorded like-for-like growth in revenues and profits in spite of a decline in sales of some luxury goods and a more “challenging” trading environment.

Latest accounts for Brown Thomas Arnotts Ltd show it made a pretax profit of just under €19 million on turnover of €319.3 million for the 48 weeks to last January 4th.

On a like-for-like basis, the company’s sales rose by 3 per cent while its operating profits were up 50 per cent.

The accounts also show the Irish retailer paid a €10 million dividend to its parent, Cambridge Retail Group Holding Ltd, after the year end. This was in addition to a €496,000 payment last year.

Its revenue comprised €273.8 million in retail sales and €45.5 million in concession incomes. And the company paid tax of just under €1.5 million on its profits.

The accounts cover a shorter time frame than usual as the firm changed its year-end to align with that of its parent company, the Central Group.

Brown Thomas and Arnotts are part of the same retail group as Selfridges in the UK and De Bijenkorf in the Netherlands.

Commenting on trading in the current financial year, Donald McDonald, chief executive of Brown Thomas Arnotts, told The Irish Times: “Trading has been a little more challenging but we’re still up on last year, which is quite satisfactory.

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“We are low digits [percentage] increase up on last year, 2-3 per cent up. The early part of 2024 was challenging, but we had record sales at Christmas time.

“We were close to 5 per cent up on that period and 40 per cent of our business is done in quarter four, with 25 per cent from mid November to the end of December.

“While we’re [currently] marginally up on this time last year, we still have Christmas to come and that’s the big period for us. It could all swing on that.”

Mr McDonald said sales at its Dundrum Town Centre store, which opened three-and-a-half years ago, have been “exceptional”, up 13 per cent on last year.

“We had a four-year payback on our initial €13.5 million investment in Dundrum and it has paid itself back in two years. It’s been a huge success,” he said.

Online sales, meanwhile, will break the €100 million barrier this year, in gross terms. “It’s about 16 per cent of our turnover this year and is the third biggest store after Brown Thomas and Arnotts,” he said.

“We put that [increase] down to the operational effectiveness we’ve put in place over the past two or three years.

“Ninety per cent of all our orders are now picked and ready for distribution within 24 hours. About 400,000 parcels will be distributed over the mid November to the end of December period.”

But sales of some luxury brands have softened this year, with visitor numbers from the United States and China down.

“Forty per cent of our tourism number would be US and we’re seeing a 4-5 per cent decline in that customer,” he said, saying that 20 per cent of sales at its flagship Grafton Street store would be tourist-related.

The headcount at Brown Thomas and Arnotts reduced to 1,459 last year from 1,534, while its total payroll costs amounted to €64.4 million. Directors’ remuneration was just under €1.5 million.

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RAF and plumbing: The lives of England’s stars

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  • 26 September 2025
Updated 9 minutes ago

Hooker Amy Cokayne is one of the few England players to still have a day job since professionalism came into the women’s game six years ago.

The 29-year-old will play in her third successive Women’s Rugby World Cup final this Saturday, but alongside her rugby career she is also a police officer in the RAF.

The RAF’s Elite Athlete Scheme allows Cokayne to focus on her dream of lifting the World Cup while maintaining her military career in the background.

This weekend, the Flight Lieutenant will aim to keep the Canada pack in check at Twickenham, before at some point returning to her role of keeping pilots in order.

“I’ve never arrested anyone,” she told BBC Radio 5 Live’s Barely Rugby podcast this week. “I’ve done all my training, but I can’t imagine I will – I’m an officer, so I imagine I’ll just send someone.”

Cokayne, who comes from a military family, entered the RAF in 2017, after England lost the World Cup final, and even gave up rugby for a year.

“After the World Cup loss, I felt I needed something outside of rugby, to figure out a career,” she told ESPN.

“I think this has actually helped my rugby career, having that time away and realising I still love the sport. I still have that career to go back to when I hang up my boots.

“I’m really fortunate the air force support me to do rugby full time through the elite athletes scheme – but I try to help out where I can.”

It is a very different scenario now to when England last won the World Cup in 2014, where an entirely amateur side beat Canada in Dublin before going back to their daily lives shortly after.

Captain Katy Daley-McLean was a primary school teacher in Sunderland, while vice-captain Sarah Hunter was a university rugby development officer for the RFU.

Veteran back row Marlie Packer was part of the 2014 winning squad, where a week after lifting the trophy she was back at her job as a plumber – having had to take seven weeks of unpaid leave to prepare for and play in the World Cup.

“The customers I’ve been able to tell about it, they have been overwhelmed to see the medal and stuff – it’s really cool,” she told BBC News in 2014, while fixing a toilet.

Amy CokayneGetty Images

‘I absolutely loved teaching’

At the time, Packer said she was hopeful of one day being able to play rugby professionally for a couple of years before going back to plumbing. But given the change in landscape for women’s rugby in England over the past decade, she may never have to put down the rugby ball and pick up the wrench again.

“At the moment I’m doing my level three coaching award. I’ve had my level two for years,” she told BBC Radio Somerset in May.

“I think the sport has given me so much – not just to the person I am today but I’ve travelled the world, I’ve got friends all over the world.”

England are one of the very few fully professional nations in women’s rugby, which has played a part in making them number one in the world rankings and favourites for the World Cup final.

Opponents Canada, despite being number two in the world and having several players in the professional Premier Women’s Rugby in England, launched a crowdfunding campaign to boost their chances of competing against the bigger nations.

Marlie Packer in 2014Getty Images

But while the top of the English game is able to properly support professional athletes, many of the stars who will line up at Twickenham this weekend had to find other ways to support themselves before reaching that level.

Front row stalwart Lark Atkin-Davies was a primary school teacher before she played rugby professionally.

“It’s nice to reflect sometimes and see the journey that you’ve been on,” she said.

“It’s not always been smooth sailing for me and I think there were some difficult times but obviously being professional for the last six years, I absolutely love it.

“Hand on heart, I couldn’t ask for a better job. I absolutely loved teaching and the children, but I still get those moments now when I interact with the children that come and watch the games.”

‘I thought I would be an Amazon driver for the rest of my life’

Meg JonesGetty Images

Another member of England’s pack, Hannah Botterman, nearly took a very different path before professional rugby arrived.

“I was a painter and decorator, proper van life,” she told the Barely Rugby podcast. “I was an apprentice for one of my mum’s friends. I was working from 7am until 4pm, then I’d do a night shift at the Harvester.

“The plan with the painting and decorating was that I would take the business on while the woman I worked for would have a baby. But then I got a contract from England and sacked it off, just as I was good enough to do it myself.”

Even the young, modern stars of women’s rugby felt the pinch of a working life when the coronavirus pandemic hit. Several players were made redundant during covid – while the RFU kept the XVs squad on furlough, those on sevens contracts were not.

Meg Jones’ speed, strength, industry and ability to be in the right place at the right time have made her arguably the best player at this World Cup.

But during Covid lockdown, she was contemplating a future working for Amazon.

“Toilet breaks are not really a thing. You’re in at 5am and then you probably leave about 4pm without having to wee,” said Jones, who by then had already been to a Rugby World Cup final. She had started the 2017 defeat by New Zealand at outside centre.

“It was scary. I’d never had another job in my life and suddenly my livelihood had gone. I just thought I was going to be an Amazon delivery driver for the rest of my life.”

On Saturday, Jones and co will instead look to deliver a first World Cup title on home soil for England.

And if so, they will all know just how hard they had to work for that achievement, on and off the field.

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