Gold

I wasn’t sure what to expect from an autumn trip to Finland, my first ever to the country, but spending an afternoon sprawled on a deck chair beneath blazing blue skies certainly wasn’t part of it. After a morning walking beneath the leafy canopy at the Mustila Arboretum – the oldest, most extensive botanical garden in the country – and a lunchtime wine-tasting (more of which later), my friend Sara and I pitched up at the Sahanlahti resort, deep in the Finnish Lakeland, only to find sun-drenched scenery that felt far more Mediterranean than Nordic.

Sahanlahti was the second stop on a mid-September road trip from Helsinki to the shores of Lake Saimaa; a journey in search of ruska, the spectacular autumn colours that blaze for a few short weeks before the long Finnish winter sets in. However, on our opening drive east from the airport to the Radalla resort, set on Lake Urajärvi, most of the thousands of trees we drove past were resolutely green, with just the very tips of the leaves tinged with auburn, like a foliage balayage.

“You’re too early,” the waitress told us, cheerfully, after we had checked in to our chic waterfront cabins, and were tucking into hefty plates of crispy garlic chicken, scattered with freshly picked chanterelles, in Radalla’s quiet dining room. “But you might get some sun tomorrow.” Later, walking back to our cabins through thick drizzle, we agreed she was most probably just being kind.

The Radalla resort is just one of dozens of lakeside hotels scattered across southern Finland – many with self-catering cabins, sauna complexes and gleaming metal steps that lead from wooden piers down into the chilly waters of the lake. The grey drizzle we awoke to made a dip less than appealing, and instead we decided to set off for our next stop, taking in the arboretum en route before finding a place for lunch.

Driving in southern Finland turned out to be quite different from other countries. Most settlements fringe the lakesides, so they tend to be tucked away down side roads leading off from the main highway. Instead, trees – those resolutely green trees – rolled past us for mile after mile, until slowly the fields began to melt into lakes, one after another, the road snaking alongside the blue-grey waters, or stitching together small islets that lay scattered between them.

Googling somewhere for lunch, Sara came across the Ollinmäki winery, an unexpected find in a country that grows absolutely no grapes. Instead, berry wines are hugely popular, and once settled in at our table, we were persuaded to try a flight of six, accompanied by a bowl of hearty elk soup (which tasted considerably better than it looked) and a leaf salad with local cheese. One wine, the white currant and berry Myllärin Matti was particularly delicious, with the tang of a crisp sauvignon – although I wouldn’t want to find out what a Finnish hangover feels like.

From the winery it was an easy drive to Sahanlahti, by which time the weather had cleared and pin-sharp blue skies gleamed above the shores of Lake Saimaa. The main house – painted butterscotch-yellow and dating back to the mid-18th century, when the owners presided over the local sawmill – had a languidly old-fashioned air, but dinner at the Koskivahti restaurant was anything but: rich mushroom soup, slivers of goose confit with lingonberry sauce, wafer-thin beetroot carpaccio with tangy goat’s cheese.

It might have been too early for the leaves to turn, but we had arrived right in the middle of harvest season, when heading out into the fields and islands to pick wild mushrooms and berries (of which there are 35 different varieties) is practically a national sport. We had barely set down our bags at our final stop, Järvisydän resort, before we were whizzing out across Saimaa on a small motor boat, baskets tucked between our feet, to hunt for chanterelles and look for rare ringed seals and ospreys.

The sky was flawlessly blue as we whipped across the water, disembarking first to pick the mushrooms – slashes of bright yellow among the green undergrowth. We were guided in our harvesting by Sebastian, the 12th generation of the Heiskanen family to be running Järvisydän. “Back in 1654,” he told us, “my family were given a portion of land by the Russian tsar, to build a tavern on the route between St Petersburg and Helsinki.” More than 350 years later, the tavern has morphed into a 100-room resort, offering everything from starkly modern glass-walled cabins, high in the forest, to hexagonal log houses with bedrooms set off a central, fire-lit atrium, and camping pods.

It’s an extraordinary place: everything – from the vast reception, dwarfed by a replica Viking longship hull hung above reception, to the restaurants, bar and the Hobbit-like spa – is built entirely from local stone and timber. A visit to the spa seemed the perfect way to warm up after our chilly boat trip, with six different saunas to dip into – although the “sunken log” sauna, where the temperature reached 70C, gave me some sense of how an ice-cream might feel if left out in the sun.

Of the three resorts we visited, Järvisydän was the standout – for its history, for the spectacular scenery of Lake Saimaa that surrounds it, for the delicious mushroom soup and for the long, sunlit walk we took on our final afternoon, through the dense pine forest, where red squirrels skittered around in the branches above. It was a wrench to leave on our last morning, but as we sped back along quiet roads to Helsinki, we agreed Finland had – in spite of our foliage fail – outstripped our expectations. It was more beautiful, more peaceful, more sunkissed than we could ever have imagined.

Ruska (the vibrant colours of autumn foliage) begins in the north of the country in early to mid-September, reaching the Lake Saimaa region in the south by early October.

The trip was provided by Discover the World. A four-night bespoke self-drive trip staying at Radalla, Sahanlahti and Järvisydän resorts starts at £794pp, including B&B and car hire, but not flights.

A UCLA linebacker shells out $11,100 to help a Republican senator in Pennsylvania.

A businessman from the small Northern California town of Eureka spends $515,000 to defeat a powerful Democrat in South Dakota.

A Silicon Valley couple funnels cash to elect Democratic secretaries of state in swing states like Ohio who will oversee voting in the coming presidential election.

Those tidbits from campaign finance reports demonstrate why California lately feels like Iowa or New Hampshire next winter. For politicians, including presidential candidates, it’s where the money is.

Last week alone, Democratic Sens. Barack Obama of Illinois, Hillary Rodham Clinton of New York, Christopher J. Dodd of Connecticut and Joseph R. Biden Jr. of Delaware made the trek. Republican Sen. John McCain of Arizona was also here, following his rival, former New York City Mayor Rudolph W. Giuliani, who had been here the week before. Former Massachusetts Gov. Mitt Romney, another Republican contender, will be here next month.

“It is the place you go to get political money,” said Sheila Krumholz, director of the nonpartisan Center for Responsive Politics in Washington, D.C.

Californians spent at least $502 million on federal campaigns in the last four years, federal campaign records show — 24% more than runner-up New York and about 13 % of all federal campaign funds raised nationally.

At The Times’ request, the center compiled a list of California’s top 100 donors to federal campaigns. The Times interviewed contributors and reviewed Federal Election Commission documents and other records.

The donors gave during the 2003-2004 election cycle, which included the latest presidential campaign, and the 2005-2006 races for the U.S. House and Senate.

Donors’ motives vary. They might be trying to gain an edge in business, or access to powerful officials. Some win perquisites, such as ambassadorships. Many are ideologues whose passions run high on the war or healthcare or taxes.

Federal law restricts donors from giving more than $4,600 directly to a single candidate in a year. But many give far larger sums to independent campaign committees. Others leverage their money by organizing fundraising events.

In the past four years, Deborah Rappaport and her husband, venture capitalist Andrew Rappaport, of Woodside, have spent $5.2 million on federal politics, much of it to encourage young people to vote. They held a fundraiser for Democratic presidential candidate and former Sen. John Edwards of North Carolina this month, raising more than $100,000.

“The stakes are huge,” Deborah Rappaport said, describing herself as “an old lefty.”

In one of the more unusual uses of campaign money, Silicon Valley Democrats Michael and Frances Kieschnick helped fund a successful campaign in 2006 to elect Democrats as secretaries of state who will oversee balloting in five swing states — a reaction to what some perceived as bias by Republican officials in Florida and Ohio in the 2000 and 2004 presidential vote counting.

Los Angeles-area developer Rick Caruso has a goal of raising $1 million for Romney’s bid for the Republican nomination.

“I’m on a big Republican list,” said Caruso, who has given $315,000 since 2003 to federal campaigns. “Politicians … never lose your number.”

Californians had a significant role in the 2006 fight for control of Congress, donating $6.6 million directly to candidates in the six U.S. Senate races that tipped control to Democrats, campaign records show.

In Montana, Democrat Jon Tester ousted Republican Sen. Conrad Burns by 3,600 votes, aided in part by Richard and Marilyn Mazess of Montecito. They gave $50,000 to the independent group Campaign Money Watch, which aired a commercial ridiculing Burns for his ties to “big oil.”

Hollywood moguls Steven Spielberg and Jeffrey Katzenberg and other Californians donated a total of $500,000 directly to Tester. Burns collected $460,000 from such Californians as Los Angeles venture capitalist Elliott Broidy and Edward Atsinger III, of Camarillo, chief executive of Christian radio network Salem Broadcasting.

“The money — the California and New York money — was very important to Tester,” said political scientist Craig Wilson of Montana State University, Billings.

In addition to familiar California sources of political money — defense, energy and aerospace companies, developers, unions, Hollywood and Silicon Valley — the top donors include numerous lawyers, heirs and heiresses, and little-known financial, agricultural and other players scattered around the state.

(Among the big-name donors who don’t make the latest list: Hollywood mogul David Geffen and investor Ronald Burkle.)

California is widely seen as a bastion of Democrats. But its greenbacks often are shaded Republican red.

Robin Arkley, who owns a finance and real estate firm in Eureka, had a hand in upending the Democratic power structure nationally in 2004. The Republican spent $515,000 on independent campaign ads attacking then-Senate Minority Leader Tom Daschle of South Dakota. Daschle was ousted by Republican John Thune, who raised $1.29 million from California, more than any other state — including South Dakota, according to Political Moneyline.

For the 2006 election, Steven B. Taylor, a retired farmer from Salinas, his wife and their three adult children spent heavily on the GOP.

One of the Taylors’ sons, Christian, plays football for UCLA. He donated $45,000, much of it to such Republicans as Sen. Rick Santorum of Pennsylvania. Altogether, the Taylor family gave Santorum $14,700.

There was one exception to the Taylors’ Republican ways. They gave $20,000 to the Green Party of Luzerne County, Pa., including $9,000 from Christian. The goal: to help a Green Party candidate take votes from Robert P. Casey Jr., the Democrat challenging Santorum. The strategy failed and Casey unseated Santorum.

The Taylors did not return calls.

In addition to directly raising millions for President Bush, the state’s Republicans have funded Progress for America, a group based in Washington that has countered the liberal MoveOn.org. In 2005, it aired television ads urging senators to confirm John G. Roberts Jr. for the Supreme Court. It also has run ads supporting the war in Iraq.

A. Jerrold Perenchio, chairman of Univision, the Spanish-language television network, has given the group nearly $10 million since 2003. Stockton developer Alex G. Spanos gave another $5 million, as did Los Angeles billionaire Roland E. Arnall and his wife, Dawn. Caruso chipped in $100,000 to help Roberts, now chief justice.

Bush has bestowed ambassadorships on five Californians, including Los Angeles car dealer Robert H. Tuttle, United Kingdom; Orange County investor George Argyros, formerly to Spain; Los Angeles venture capitalist Ronald Spogli, Italy; and investor Frank Baxter, Uruguay. Combined, they have given $1.6 million to the GOP since 2000, including donations to Bush’s inaugurals.

The fifth, Arnall, is the biggest donor-ambassador. He represents U.S. interests in the Netherlands. Since 2004, Roland and Dawn Arnall have given $5.5 million primarily to Republican candidates and organizations, and another $1 million to Bush’s 2005 inaugural. Arnall owns home mortgage lender Ameriquest Capital Corp.

Los Angeles movie producer Stephen L. Bing was the state’s largest single donor, with nearly $14.2 million, to federal campaigns during the past four years, most of it to Democrats. Bing, who declines interviews, spent another $49 million on a failed California initiative in 2006 to boost alternative energy. He likely will support Clinton’s candidacy.

Clinton has taken $7.7 million from here for her U.S. Senate campaigns, second only to the $26.5 million she has raised in her home base.

After Illinois, California has been the second largest source of money for Obama, Federal Election Commission records show.

Sacramento Democrat Eleni Tsakopoulos-Kounalakis and her father, Angelo Tsakopoulos, have helped organize events for many Democrats, but are “Hillary people all the way.”

“We want to see the White House restored to competent hands,” she said.

She explained her family’s political involvement by telling her father’s story.

He came here at age 15 from Greece with nothing, made a fortune as a developer and hosted a president, Bill Clinton, at his home. Tsakopoulos never could have attained such success in the old country.

These days, Democratic politicians all come courting.

“Everybody calls and we love it,” she said. “What an incredible honor and privilege.”

*

Dan.morain@latimes.com

Times researcher Janet Lundblad contributed to this report.

*

(BEGIN TEXT OF INFOBOX)

Top 20 organizational donors

California corporations, labor unions and organizations include some of the biggest national donors to federal campaigns. Federal law bars corporations and unions from giving directly to candidates. But their executives and employees are free to make donations. Here is a list of the top 20 donors by organization.

*–* Donor Industry Total (millions) Party preference Service Employees Internationa Labor $4.83 Democrat l Union Northrop Aerospace 3.19 Leans Rep Grumman Sierra Club Environment 3.10 Democrat Lerach, Attorney-Plaintiffs 2.09 Democrat Coughlin et al Time Warner Entertainment 2.05 Democrat American Academy of Health Care 1.98 Leans Rep Ophthalmolog y Cisco Systems Technology 1.64 Bipartisan Kleiner, Finance 1.46 Leans Dem Perkins et al Edison Energy 1.24 Leans Rep Internationa l TCW Group Finance 1.23 Republican SAIC Defense 1.22 Leans Rep Morongo Band Native American of Mission issues; casinos 1.16 Bipartisan Indians Chevron Corp Energy 1.13 Republican Allianz Insurance 1.11 Republican General Defense 1.09 Leans Rep Atomics Jacobs Engineers 1.09 Bipartisan Engineering Group Kazan, Attorney-Plaintiffs 0.98 Democrat McClain et al Intuit Technology 0.93 Bipartisan Occidental Energy 0.93 Leans Rep Petroleum Capital Finance 0.92 Bipartisan Group Cos

*–*

Democrat or Republican means at least 80% donated to one party or affiliated candidate or interest group; leans means 60% or more to one party; bipartisan means 40% to 60% to each party. Donations from companies based elsewhere came from California branch.

Sources: Center for Responsive Politics, Times research, federal election records. Graphics reporting by Dan Morain

—

Top 20 individual contributors

California is like a magnet to candidates nationally. From 2003 to 2006, Californians donated at least $502 million to federal candidates and national political parties, and to independent campaign groups known as 527s. The top 20 donors are spread from Eureka to

San Diego:

*–* Amount Party Name City Industry (in millions) preference Stephen Bing Los Angeles Real estate $14.18 Dem. heir, film prod Herbert&Mar; Oakland Finance; 13.85 Dem. ion Sandler retired A. Jerrold Los Angeles Univision 9.94 Rep. Perenchio chairman Roland and Los Angeles Ameriquest; Dawn Arnall ambassador 5.52 Rep. to Netherlands Alexander Stockton SD Chargers, 5.48 Rep. G./Faye deve Spanos Deborah/And Portola Valley Venture 5.19 Dem. rew capital Rappaport Ted Waitt San Diego Gateway co-founder, Avalon 5.06 Dem. Capital Anne Getty Corona del Mar Getty heiress 1.63 Dem. Earhart Susie/Mark San Francisco Found Esprit 1.60 Dem. Buell clothing Angelo Sacramento Real estate 1.25 Dem. Tsakopoulos Louise Gund Berkeley Philanthropi 1.24 Dem. st Marcia l. Los Angeles Entertainment 1.24 Dem. Carsey Robin, Cherie, Allison, Elizabeth Eureka Finance, 1.23 Rep. Arkley real estate Peter S. Los Angeles Investments, Bing father of 1.09 Dem. Stephen Wayne B. Glendale Public 1.07 Rep. Hughes Storage Inc. Michael/Fra Palo Alto Fin.,philant 1.07 Dem. nces hropy Kieschnick William/Wil Newport Beach Developer 0.99 Rep. la Dean Lyon Richard/Sha Los Angeles Entertainment 0.96 Dem. ri Foos Stewart/Lyn Los Angeles Finance, ag. 0.90 Dem. da Resnick M. Quinn and Wayne Jordan Oakland Philanthropy 0.67 Dem. Delaney , real estate

*–*

In some cases, immediate family members also donated

Sources: Center for Responsive Politics, Times research, federal election records. Graphics reporting by Dan Morain

The $1 coin designed to celebrate America’s 250th birthday and seemingly President Trump, whose face gazes from one side of the gold finish, will go on sale Wednesday, according the U.S. Mint.

The coin’s design — Trump’s visage as “heads” and the Great Seal of the United States as “tails” — was given the stamp of approval this year by the U.S. Commission of Fine Arts, whose members Trump appointed. In past comments, the president said that the idea to stamp his face on a coin was “very unusual” but that he was “honored by it.”

The president’s second term has come with several such brandings, or attempts at them that have become tangled up in lawsuits. That includes moves to put Trump’s name on the Kennedy Center, as well as the U.S. Institute for Peace, as Trump works to leave his stamp on history and Washington, D.C.

The coins, which can be used as legal tender, stirred some criticism particularly because of federal law that bars the depiction of a living president on U.S. currency. But in some circumstances, the treasury secretary does have authority to authorize the minting and issuance of special coins.

The coins were struck to “honor 250 years of great American heritage,” the U.S. Mint wrote on its website. In an arc above Trump’s face is written “LIBERTY,” and below is “1776 — 2026.” On the flip side is the Great Seal of the United States, with the bald eagle gripping arrows in one claw and an olive branch in the other. In a banner clutched in its beak is written “E PLURIBUS UNUM,” Latin for “out of many, one”

A roll of 25 coins will cost $61, and a bag of 100 will cost $154.50, and the U.S. Mint said they randomly hid some special-issue coins among the rolls and bags. Those will be marked “July 4th,” because they were stuck on that day, the anniversary of the Declaration of Independence.

Households are limited to only two orders, the U.S. Mint wrote, but that cap will lift at 2 p.m. Eastern time on Thursday.

Bedayn writes for the Associated Press.

By Euronews Persian

Published on 02/09/2026 – 14:37 GMT+2•Updated
14:42

The US dollar broke above 2.1 million Iranian rials on Tehran’s free market on Wednesday, setting a new record as the rial lost around 60% of its value against the dollar since the start of the Iranian calendar year in March — when the dollar traded at approximately 1.35 million rials.

ADVERTISEMENT

ADVERTISEMENT

The rial’s slide has accelerated since the US reimposed a naval blockade on Iranian ports in July, following the collapse of a short-lived ceasefire.

The euro hit an unprecedented 2.55 million rials, and the UK pound reached 2,976,000 rials.

The UAE dirham, which serves as the benchmark for pricing the rial on regional markets, reached 600,000 rials for the first time.

One gram of 18-carat gold climbed above 225.7 million rials, and the Imami gold coin — a standard unit of value in Iran — changed hands at 2.26 billion rials.

Iran operates a dual exchange rate system. The official rate, set by the Central Bank and used for state transactions and subsidised imports of essential goods, is significantly stronger than the free market rate available to ordinary Iranians and businesses.

The gap between the two has widened sharply since the war began, with the free market rate now more than double the official rate.

The rial has been in freefall since the US-Israeli strikes against Iran on 28 February launched the ongoing war, now in its seventh month, and has accelerated as Washington has tightened its economic pressure campaign.

The US Treasury has cut off Iran’s access to regional banks, severing one of the Islamic Republic’s main channels for accessing foreign currency and clearing import payments.

The naval blockade of Iranian ports has compounded the pressure by restricting trade routes and reducing Iran’s oil export revenues.

Abdolnaser Hemmati, governor of the Central Bank of Iran, said the bank was ready to inject $2 billion into the foreign exchange market to stabilise the rial. He attributed the latest slide primarily to psychological factors rather than fundamental economic ones.

“The dust created in the foreign exchange market will settle, and the recent increase in exchange rates is driven more by psychological factors than by real economic factors,” he said.

Hemmati acknowledged that inflation had placed heavy pressure on households.

“Although inflation and rising prices have placed heavy pressure on people’s livelihoods and daily lives, and these difficulties are tangible, the Central Bank has been able to control the accelerating pace of inflation by using monetary, supervisory and prudential tools,” he said.

He rejected US claims that Tehran lacked access to financial reserves.

“These claims are completely baseless. The reserves have not been frozen, and the Central Bank has access to stable resources as well as multiple oil and non-oil revenues,” he said, claiming that more than $18 billion in foreign currency had been provided for imports of essential goods, medicines, animal feed and raw materials since March.

He provided no further details to support the figure.

The rial’s collapse is feeding directly into consumer prices. Iran was already experiencing high inflation before the war, while the currency’s further depreciation has raised the cost of all imported goods, raw materials and energy inputs.

Iranians who hold savings in rials have seen their purchasing power roughly halved in less than six months. Gold and hard currency have become the primary store of value for those who can access them.

Iran’s official currency is the rial, although most Iranians conduct everyday transactions in tomans — a colloquial unit equal to 10 rials that is so deeply embedded in daily use that shops, restaurants and property listings quote prices almost exclusively in tomans.

At Wednesday’s free-market rate, the US dollar traded at about 220,000 tomans. The government announced plans in 2020 to formally replace the rial with the toman and remove four zeros from the currency, a redenomination that has not yet been fully implemented.

One of the more remarkable streaks in the history of this nearly century-old racetrack is still alive.

It’s just not the one most people expected.

Gold Phoenix’s bid to join Kelso as the only horses to win the same major stakes race in North America in five straight years ended Saturday evening when the 8-year-old gelding finished fourth behind Test Score and two others in the $300,000 Del Mar Handicap.

“Got beat, I think less than a length, and got stopped there at the top of the lane,” trainer Phil D’Amato said. “That’s grass racing.”

More specifically, it’s grass racing at Del Mar against Graham Motion, the East Coast trainer who in recent years has been more successful here than a margarita concession stand.

Test Score was the eighth horse Motion has sent to Del Mar for a summer stakes race since 2022 — and the eighth to win.

“It’s crazy,” said assistant trainer Alice Clapham, who accompanied Test Score on his trip west. “It’s one of those things you just pinch yourself. You know it’s going to stop at some point but you just go along for the ride.”

Gold Phoenix’s owners know the feeling.

They never expected their gelding to win this race four straight times, an unprecedented feat at Del Mar, but each year since 2022 he found a way, prevailing three times by less than half a length and once by 1¼ lengths.

This time the 11-10 favorite found himself on the wrong side of a five-horse photo finish. He nosed out Mondego but was a head behind Atomic Age, who was half a length behind Atitlan, who was a neck behind Test Score. The winner, a son of Lookin at Lucky who is half Gold Phoenix’s age, paid $7.20 as the 13-5 second choice.

While disappointed, Gold Phoenix’s connections weren’t about to ask for condolences.

“We’re so grateful for everything that he has done, for all of us and the partners,” said Gary Fenton, managing partner of Little Red Feather Racing Stable. “He’s just a really, really special horse and today changes nothing.”

Said Billy Koch, Little Red Feather’s other managing partner: “It just didn’t work out the way we needed it to work out. He tries, though, every time. Can’t say anything but be proud of him.”

Koch said he had a feeling during the race that another win could be problematic. Gold Phoenix was near the back of the pack in the field of 11 until the far turn, when jockey Hector Berrios began urging him. The jockey had to hold him up just a bit as they came around the corner, though he had a clear run once he shifted toward the rail.

Test Score also rallied from behind but had a little smoother journey under Juan Hernandez and outdid the other closers.

“[Berrios] took a chance to go up in there,” D’Amato said. “It got a little tight but once he got through, he battled and we just got outrun.”

The final time of 2 minutes 14.76 seconds for 1-3/8 miles was the fastest since Gold Phoenix’s initial win (2:14.51). As part of the Breeders’ Cup Challenge Series, Test Score earned a fees-paid berth in the $5-million Breeders’ Cup Turf on Oct. 31 at Keeneland.

Fenton said the plan is to give Gold Phoenix another shot in that race, in which he’s finished fourth twice, fifth and 10th and earned $640,000 — about 25% of his career earnings of $2.6 million.

He won’t be the only Little Red Feather horse at Keeneland. Just a half-hour before Gold Phoenix’s race, Iron Man Cal pulled off an 8-1 upset in another Grade 2 race, the $250,000 Pat O’Brien. That win, in 1:22.02 for seven furlongs under Joel Rosario, guaranteed the 4-year-old gelding a berth in the Breeders’ Cup Dirt Mile.

Gary Fenton and Billy Koch have been sports fans long enough to know the cliché about Father Time being undefeated.

“I can say that about me for sure,” joked Koch, who is 56.

But the two men also know some individuals can delay the inevitable for years far beyond the norm. Someone like Kareem Abdul-Jabbar. Or Tom Brady. Or LeBron James. Or Gold Phoenix.

Wait, who?

Gold Phoenix is an 8-year-old gelding Fenton and Koch — managing partners of the Little Red Feather Racing Stable — purchased five years ago in his native Ireland. Since making his U.S. debut in January 2022, he has won a dozen races, all but one in a graded stakes, and earned more than $2.5 million. All of which puts him in great, though not exclusive company.

At about 6:40 p.m. Saturday, however, Gold Phoenix has a chance to separate himself from all but one other thoroughbred who has competed in North America. Should he win the $300,000 Del Mar Handicap, Gold Phoenix will join the legendary Kelso as the only horses to win the same major stakes race on this continent in five straight years. (Kelso, a five-time Horse of the Year, won the Jockey Club Gold Cup from 1960-64 at Aqueduct.)

“I got the chills when you said it,” Koch said. “To be even mentioned in the same breath as a horse like Kelso … that’s something that only happens once in a lifetime.”

Gold Phoenix is the 5-2 morning-line favorite, but the Grade 2 race is hardly a walkover. There are multiple stakes winners in the field, led by Test Score, the early second choice at 3-1. The 4-year-old is trained by Graham Motion, who has his own impressive streak: Seven straight summer stakes wins at Del Mar dating to 2022 — which is also the year Gold Phoenix won this 1 3/8-mile race for the first time.

Another victory would be the gelding’s seventh stakes win here, extending the record he set last month in the Eddie Read Stakes, which Koch and Fenton, in separate interviews, ranked among their favorite performances. At 1 1/8 miles, the race was shorter than Gold Phoenix prefers, and he had to beat a field that included another Del Mar specialist, Formidable Man.

“To see him come charging home just brought out all the emotions of what we’ve seen, not just from him [anywhere], but on this racetrack here at Del Mar that he absolutely loves,” Fenton said.

The victory was a close one, but that’s typical for Gold Phoenix, who has seven wins by a nose, head or neck and only one by more than 1¼ lengths. His competitiveness is apparent at any distance and under any jockey: He’s won races as short as 7 furlongs and as long as 1¾ miles, and all seven men to ride him earned at least one victory (his current rider, Hector Berrios, is four for five).

“He’s just such a cool horse,” Koch said, noting the gelding is known around the barn as “Clifford the Big Red Dog” because of his chestnut coat and a temperament Fenton describes as “sweet.”

But other horses like that, or those that are completely the opposite, don’t have Gold Phoenix’s success rate or longevity. That’s where Fenton made a human comparison.

“I’m going to say he’s like LeBron,” Fenton said, “in that as he’s been able to age, his body, his athleticism, have maintained at a very, very top level with very [few] issues. He’s been relatively sound all this time.”

Fenton and Koch are quick to credit trainer Phil D’Amato and his barn staff for their overall management, spacing out his races and giving Gold Phoenix time off each year after the Breeders’ Cup. He had a shorter break this winter — just three months until his first start of 2026 — because, Fenton said, “I think [D’Amato] just thought being at that age, to give him a break and then try to ramp him up, might be a little bit too much. So I think he rolled the dice and kept him in training for as long as he could. And, I mean, here we still are.”

For how much longer? There’s no reason to stop yet. Gold Phoenix already has three victories in 2026, matching his high for any year. And he hasn’t even run in the race he always wins.

“I just want to watch him and see him thrive at this level,” Fenton said, “and the moment he’s not at this level is where it’ll probably be time to wrap it up. But he’s showing no signs of it.”

Said Koch: “People always say, ‘Why are you still running? He’s 8.’ I’m like, what are we supposed to do? The horse might be better now than he was at 7 or he was at 6.”

Koch noted that in his role as board president for CARMA, a nonprofit that provides funding and care of retired California racehorses, he hears from many facilities offering to house Gold Phoenix.

“I tell them he’s not ready,” Koch said. “He’ll tell us. They keep asking, [but] somehow he’s managed to dodge Father Time. I don’t know how, but he has.

“We’ll figure it out. He’s going to go to a very special home. I promise you that he is going to have a great life. He deserves it.”

Hunt is not afraid to voice her bold ambitions.

Announcing that she “wants it all” before these championships, Hunt, even in these early stages of her senior career, has demonstrated a propensity to thrive on major stages, and under ever-increasing expectation.

“Four golds was the dream and perhaps dreams do come true,” said Hunt.

“It’s so beyond the bounds of my dreams that I’m just euphoric. I can’t believe it’s happening.

“I think it will sink in later, maybe on the podium. I’m just so proud of myself and the way I’ve handled this week.”

The Briton has already spoken about the big goal: repeating her sweep of the sprint golds at the Los Angeles Olympics in 2028.

Her playlist – she creates one for every major event – is already being built as she begins to visualise how that might feel.

She will be well aware how much work there is to do. So far this year, she ranks 14th-fastest worldwide in the 200m, and 25th in the 100m. Asher-Smith’s British records, at 21.88 and 10.83 seconds respectively, remain untouched since 2019.

The next opportunity for global honours, beyond the inaugural World Ultimate Championships in September, will arrive at next year’s World Championships in Beijing.

And, once the dust has settled on a momentous week, Hunt will set about translating continental domination to glory on the sport’s biggest stages – just as British team-mate Asher-Smith achieved following her European treble in 2018.

“Amy has already won world silver, but she was not a favourite then,” Jackson said.

“Now, it’s a big change. She is a champion and she has to go and take on the best in the world.

“Is it going to be easy? No. But this will fill Amy with confidence. She will be on start lines trusting her ability is great, and I’m hoping that she will go from strength and strength.”

Jeremiah Azu, Dina-Asher Smith, Zharnel Hughes and Amy Hunt combine to win gold for Great Britain in the first mixed 4x100m relay at the European Athletics Championships.

Hunt became the first athlete to win four European golds at one championships while Dina Asher-Smith secured a record eighth European career title.

READ MORE: Athletics on BBC Sport

Available to UK users only.

Ireland’s Kate O’Connor speaks after winning gold in the women’s heptathlon at the European Athletics Championships, just weeks after winning the same event at the Commonwealth Games.

READ MORE: O’Connor secures European gold in heptathlon

Available to UK users only.

Mark English wins gold in the 800m to earn Ireland’s first men’s gold at a European Athletics Championships, capitalising after Great Britain’s Max Burgin was forced to withdraw from the final through injury.

READ MORE: English makes history with European 800m gold

Available to UK users only..

Published on
12/08/2026 – 8:34 GMT+2

Oil prices climbed and world stocks were mixed on Wednesday, with Asian shares mostly higher even as Wall Street slipped further from last week’s record highs, as investors awaited a crucial US inflation reading and watched for any breakthrough in the stalled Iran war talks.

ADVERTISEMENT

ADVERTISEMENT

The price of a barrel of Brent crude, the international benchmark, was up 0.9% at $89.67 early on Wednesday. US benchmark crude picked up 0.9% to $83.98.

Gold edged up 0.8% to $4,400.44 an ounce, while silver gained 1% to $65.30 an ounce.

Iran has rejected a comment by US President Donald Trump suggesting that, since Tehran is seeking compensation as part of any talks to end the war, Washington would demand the same.

The United States and Israel attacked Iran in late February, a strike that led to the closure of the Strait of Hormuz and kept much of the world’s oil pent up in the Middle East. Last month alone, Brent’s price swung between $72 and $102 a barrel.

Meanwhile, an attack by Iran-backed Houthi rebels on a vessel in the Bab el-Mandeb strait, off Yemen’s southern tip, has raised concerns that the violence could reignite civil war and further threaten regional shipping routes.

Higher oil prices worsen inflation, and they have pushed the average cost of a gallon of regular petrol in the US to $4.01, according to AAA — up from less than $3.14 a year ago.

That has Wall Street’s attention fixed on Wednesday, when the US government releases its latest monthly inflation reading. Economists expect it to show inflation slipped to 3.4% in July from 3.5% in June.

On Tuesday, the S&P 500 fell 0.3% for a second modest drop since setting its all-time high on Friday. The Dow Jones Industrial Average dipped 184 points, or 0.3%, and the Nasdaq Composite sank 0.6%.

Cooler inflation could ease pressure on the Federal Reserve to raise interest rates to tamp down price increases.

Higher rates could curb inflation, but they would also drag on the wider US economy by making it more expensive for households and businesses to borrow, while undercutting prices for stocks and other investments.

Treasury yields have jumped since the war with Iran began, driven by higher oil prices and inflation worries, sending long-term US mortgage rates to their highest levels in a year.

Tokyo’s Nikkei 225 gained 0.6% to 67,334.94.

In South Korea, the Kospi jumped more than 4% to 6,597.90 on renewed buying of computer chipmakers. Samsung Electronics gained 7.7% and memory chipmaker SK Hynix rose 7.1%.

Taiwan’s Taiex advanced 0.8%.

The Shanghai Composite index added 0.3% to 3,946.51, while Hong Kong’s Hang Seng slipped 1.2% to 25,352.13.

In Australia, the S&P/ASX 200 lost 0.6% to 9,197.00.

In other early Wednesday dealings, the dollar rose to 159.41 yen from 159.30 yen. The euro slipped to $1.1535 from $1.1544.

Additional sources • AP

Hunt could have as many as three opportunities to add to her tally this week, as se competes in the 200m and both the women’s and mixed 4x100m relay events.

Typically not the quickest off the blocks at almost six-foot tall, Hunt was seventh in the eight-athlete final after the first 10m.

But she held her form superbly to overhaul her rivals and end her wait for gold, just two years after finishing seventh in the previous European final in Rome.

“I just had such a magical feeling,” Hunt said.

“I’ve won English Schools here, raced here as a 13, 14-year-old. I just had a feeling that this was going to be my night.

“My first gold. I think it was definitely time for an upgrade, and I’m now kind of fully established.”

British record holder Asher-Smith lined up in Birmingham as the defending champion – but the 30-year-old could not force her way into medal contention.

Asher-Smith, bidding to win a historic seventh gold and become the joint-most successful athlete in the history of the championships, finished fifth in 11.10, as Poland’s Ewa Swoboda (11.02) and Belgian Delphine Nkansa (11.06) completed the podium.

Like Hunt, Asher-Smith will have further opportunities to draw level with Croatian discus thrower Sandra Elkasevic and Norway’s Jakob Ingebrigtsen, who earlier won a superb 5,000m gold on his comeback from injury.

Both will return to action on Wednesday, when attention turns to the women’s 200m medals before the weekend’s relays.