North America
CNBC Finance

HHS moves to tighten oversight of food ingredients as safety concerns mount

The U.S. Department of Health and Human Services on Monday announced a policy proposal aimed at giving the federal government greater visibility into the nation's food supply. HHS proposed a requirement for manufacturers, like Pepsi or Nestle, to notify the Food and Drug Administration when they determine that an ingredient is "Generally Recognized as Safe," or GRAS. "We're systematically taking a look at ingredients, particularly those that moms, consumers and other countries view as the most problematic," said acting FDA commissioner Kyle Diamantas in an interview with CNBC. The department also said it and the U.S. Department of Agriculture submitted for final review the federal government's first proposed definition of ultra-processed foods. Concerns have grown for years about the long-term safety of eating heavily processed foods, and the products have been a target of HHS Secretary Robert F. Kennedy Jr.'s "Make America Healthy Again" movement. The proposals come as federal and state health officials grapple with a series of foodborne illness outbreaks this summer, including a multistate cyclospora outbreak linked to shredded iceberg lettuce and several other ongoing investigations. The FDA currently lists multiple active foodborne illness probes, including outbreaks involving salmonella and listeria. The announcements do not appear to address the key issues that experts said contributed to the food safety issues, but target broader criticisms of ingredient safety in the U.S. "We believe that these initiatives will actually improve the FDA's ability to effectively execute on its mission by having greater transparency into the number of ingredients in the food supply," said Diamantas on a call with reporters. Under current law, substances intentionally added to food generally require FDA premarket approval unless they qualify for an exemption, including GRAS. An ingredient can qualify for GRAS status when qualified experts recognize it as safe in the context of its intended use. The FDA has operated a voluntary GRAS notification program for years, but manufacturers have not been required to tell the agency when they determine themselves that an ingredient qualifies for the exemption. Under the proposed rule, manufacturers would have to notify the FDA when they reach that conclusion. "GRAS reform is the preeminent regulatory reform that food advocates on both sides of the aisle have been saying is the most important food reform that the United States needs to do for the past 20 years," a senior HHS spokesperson said. The proposal would not create a premarket approval system for GRAS substances, meaning this process would not prohibit companies from entering the market. Instead, it would give the FDA greater visibility into ingredients entering the food supply. That could become particularly significant as the administration develops its policy around ultra-processed foods.

HHS moves to tighten oversight of food ingredients as safety concerns mount
North America
Yahoo Finance

Why Nasdaq, S&P 500, Dow Futures Are Edging Lower Overnight After Markets Closed Up Last Week

U.S. stock futures were trading lower in the overnight session late Sunday amid ongoing uncertainty over a deal between the U.S. and Iran, even as strong corporate earnings over the past week have bolstered markets higher. Markets will be watching for July’s consumer price index (CPI) and producer price index (PPI) slated for later this week for clues on inflation and insights into the Federal Reserve’s next monetary policy move. Dow futures were down 0.19%, S&P 500 futures fell 0.10%, while Nasdaq-100 futures edged 0.03% at 08:54 PM EDT. U.S. stocks closed higher on Friday, with the S&P clocking another​ record high, ending the session 0.62% higher. The Dow and Nasdaq also climbed 0.28% and 1.30% up at close. All three benchmark indexes closed the week higher, notching best gains since April. The Dow closed nearly 3% up, while the S&P 500 added 3.58% at close and the Nasdaq ended the week more than 5% higher. Chief Market Strategist at Creative Planning Charlie Bilello said in a post on X on Sunday, “S&P 500 Q2 earnings are on pace to rise 50% YoY, the highest growth rate since Q2 2021. We've never seen earnings growth this high outside of post-recessionary rebounds. This is an unprecedented boom fueled by massive EPS gains in big tech, including markups in SpaceX/Anthropic.” Last week, U.S. markets largely reacted to strong earnings from marquee names and July nonfarm payrolls report that released on Friday, which clocked a surprise contraction in jobs even as unemployment rates came in lower than expected. The economy reported a decline of 23,000 jobs versus an expectation of 83,000 forecast by Dow Jones economists. Unemployment rates came in at 4.1% versus an expectation of 4.2%. The unexpected contraction stoked market hopes that the Federal Reserve would likely hold off on hiking interest rates in September. According to the CME FedWatch tool, markets are now predicting a probability of about 44% that the central bank will hike rates at its next meeting, down from 67% a week ago. “The stock market is likely to welcome the dovish implications of the [jobs] report,” Peter Graf, investing chief at Amova Asset Management Americas, told CNBC. But he added that “investors should be wary of the future growth potential of an economy where fewer people are working.” On the geopolitical front, the uncertainty around the U.S. and Iran’s likelihood of reaching a deal soon has also been weighing on markets. Last week, U.S. Treasury Secretary Scott Bessent indicated that a deal to reopen the Strait of Hormuz could be close. However, U.S. President Donald Trump reportedly told Axios over the weekend that the U.S. was “only semi-negotiating” with Iran and intends to continue exerting economic pressure on the country.

Why Nasdaq, S&P 500, Dow Futures Are Edging Lower Overnight After Markets Closed Up Last Week
Asia
The Hindu BusinessLine

India set for record soyoil imports as Russia-Ukraine war disrupts sunflower shipments

Russia and Ukraine account for most of India’s sunflower oil imports, which are likely to fall to 180,000 metric tons in August, the ​lowest since February 2026 and ‌down 28% from a month earlier, the dealers said. | Photo Credit: iStockphoto India’s soyoil imports are set to hit a record high in August as competitive prices prompt refiners to boost purchases for festive ​demand, while disruptions to sunflower oil shipments due to the Russia-Ukraine war push buyers to switch oils, ‌dealers said. Soyoil imports in August are likely to rise to 620,000 metric ​tons, nearly 46 per cent above the average monthly imports of 424,549 tons ⁠so far in the current marketing year, which began in November, according to four traders directly involved in trade deals. The traders did not wish to be named in line with their companies’ ‌policies. “Soyoil prices are very competitive. At the same time, there are disruptions to sunflower oil shipments. That is making soyoil even more attractive,” said ‌Sandeep Bajoria, chief executive of Sunvin Group, a Mumbai-based vegetable oil brokerage. In recent months, ‌Russia ⁠and Ukraine have increasingly targeted each other’s port and maritime infrastructure in ⁠and around the Black Sea, disrupting grain and vegetable oil shipments and reducing export capacity. Russia and Ukraine account for most of India’s sunflower oil imports, which are likely to fall to 180,000 metric tons in August, the ​lowest since February 2026 and ‌down 28 per cent from a month earlier, the dealers said. Around 150,000 tons of sunflower oil originating from the Black Sea and scheduled for shipment in August and September have been delayed because of the conflict, one of the dealers said. Buyers in southern India ‌typically prefer sunflower oil, but import disruptions are prompting them to switch to ​soyoil, the dealers said. Along with Kandla and JNPT ports on the west coast, Krishnapatnam and Kakinada ports in southern India are now receiving soyoil ⁠shipments, one of the dealers said. The premium for soyoil over palm oil has narrowed to around $50 a metric ton from more than $100 in April, said a New Delhi-based ‌dealer, as palm oil prices have risen on concerns that unfavourable weather could hit production and on Indonesia’s move to increase use of palm oil for biofuels. The narrower premium is making soyoil more attractive to price-sensitive Indian buyers, said the dealer, who did not wish to be named in line with his company’s policy. “Indian imports are likely to exceed 600,000 tons even in September. India has bought nearly 1.4 million tons ‌for shipment between September and December,” he said.

India set for record soyoil imports as Russia-Ukraine war disrupts sunflower shipments
Europe
BBC Business

UK economy grows but experts warn of challenging months ahead

Image source, Getty ImagesByLucy HookerBusiness reporterPublished13 August 2026, 07:17 BSTUpdated 1 hour agoSummer sun and sports fixtures helped the UK economy grow between April and June, according to official data, but some economists warned the outlook for the rest of the year was weaker. The economy expanded by 0.4%, in line with market expectations but below a 0.6% increase in the first three months of this year. The Office for National Statistics (ONS) said growth had "remained relatively robust", with the UK ahead of other G7 countries for growth this year so far. Experts questioned whether this resilience would be maintained, however, given growth was fuelled by some temporary factors and energy prices could remain volatile if the Middle East conflict continues. The British economy is now 1.2% bigger than a year ago, the ONS said, despite fears that the Iran war, which started at the end of February, and politically uncertainty around Sir Keir Starmer's resignation as prime minister would hold back growth. Between April and June, sectors including computer programming, advertising and the pharmaceutical industry lifted growth. That was offset by falls in power generation and sewerage. The ONS said some businesses reported that "good weather and sporting events may have had a positive effect" in June, boosting month-on-month growth to 0.3%. The men's football World Cup, which kicked off mid-June, increased customers at hospitality venues showing the matches. June also saw several of summer's heatwaves. However, May's growth was revised down from 0.1% to zero growth. Fergus Jimenez-England, associate economist National Institute of Economic and Social Research said the UK economy had "weathered the recent energy shock better than many feared". Matt Harwood, director of Clarity Plastics, a plastic injection moulding company with sites in Birmingham and Telford, said that while the conflict had affected costs for things like raw materials, there had since been some stabilisation. "When the Iran war started, availability went down and prices went up," he said. "However, we're seeing that kind of level out now, and prices coming back to the kind of the normal levels again.

UK economy grows but experts warn of challenging months ahead
Europe
The Guardian

Oil prices rise as Iran tempers optimism around strait of Hormuz reopening - business live

Wheat prices have risen, as traders worried over war risks to Black Sea exports. The most-traded wheat contract on the Chicago board of trade rose 1.5% to $6.49 a bushel. On Euronext, the front-month wheat contract rose 0.6% to €224.25 a metric ton. Chicago wheat futures prices are well below the highs of more than $7 a bushel hit last month when disruptions to Black Sea exports began, but are still up nearly 30% so far this year. Bloomberg reported over the weekend that Turkey has restricted commercial ship traffic entering the Black Sea following attacks on vessels. But Turkish officials have since indicated ships are passing normally through the Turkish straits, easing concerns. Turkish foreing minister Hakan Fidan said on Saturday that Ankara had asked Russia and Ukraine to declare a moratorium on their attacks in the Black Sea, which have disrupted grain flows.

Oil prices rise as Iran tempers optimism around strait of Hormuz reopening - business live
Europe
BBC Business

I got an £89 refund – how to cancel and avoid unwanted subscriptions

Ever been confused by a random amount leaving your bank then had that sinking feeling it's a subscription you forgot to cancel or didn't mean to sign up to? From TV streaming, to meal deliveries and beauty boxes there are subscriptions for almost everything. Often the first order is free or heavily discounted so you give it a try and tell yourself you'll cancel it before the deadline. But it's easy to forget and sometimes not straightforward. Following Prime Minister Andy Burnham's crackdown on subscription traps, three people tell us how they got into - and out of theirs. Sophie Branscombe, 23 from Wirral, says she signed up for a free trial of a photo editor app then saw a payment of £89.99 had gone out of her bank. "It was a free trial, and they did make it clear I was signing up to a subscription, but there was no reminder of when [the free period] would end," she says. Sophie says she wasn't able to get a refund through the firm. Instead she submitted a refund request via Apple "report a problem" which refunded everything. The BBC has asked the company for a response. Sophie's advice to others is to set reminders as soon as you sign up to a subscription for when the free trial ends. "Make it a habit of checking what subscriptions run out and if you also find that you don't like something after signing up to a free trial, cancel straight away," she says. Hussein Zaaiter, 21 from West London was using a free software trial for his university work and says when he tried to cancel he faced several complications. "I tried online chat, email and even the phone at one point as they were constantly charging me," he says. He says a payment of £16 left his account, then another of £32 before he froze his card. "They tried to charge me seven times," he says.

I got an £89 refund – how to cancel and avoid unwanted subscriptions
Europe
BBC Business

Engine parts smashed Ryanair window that man's head was sucked out of, report says

Broken engine fragments smashed a cabin window of a Ryanair plane causing a man's head and right shoulder to be sucked into the hole last month, US investigators have said. The National Transportation Safety Board (NTSB) wrote in a preliminary report that this happened after an engine fan blade broke shortly after takeoff on the 10 July flight from Greece to Germany. Serbian national Ljubisa Karović's head and right shoulder were sucked out of the plane's window, leaving him "seriously injured and in shock". His wife Svetlana Grković Maksimović later told BBC Serbia that she and two other passengers held onto his legs for several minutes. The NTSB said the flight from Thessaloniki to Memmingen "experienced a No. 2 (right) engine fan-blade-out (FBO) failure during climb out". "The crew elected to return to SKG [Thessaloniki International Airport] where they made an uneventful landing." The NTSB was "delegated the investigation in full" by the Greek authorities in the days following the incident. It also detailed a timeline of events given by the flight crew, who said they received a "high vibration" engine alert during the climb. In response, they reduced the engine power and carried out a series of checks. When the vibrations stopped, the crew continued to climb on autopilot, the report said. But the engine vibrations then increased and the crew heard a loud bang, prompting them to declare an emergency and begin their descent. Flight attendants reported hearing and feeling the vibrations, and seeing a small amount of smoke before the oxygen masks were deployed. One flight attendant said they then noticed passengers calling for help after a passenger became "partially lodged in a damaged cabin window", with the entire window missing.

Engine parts smashed Ryanair window that man's head was sucked out of, report says
Europe
The Guardian

Top Forbes editor reportedly fired after receiving $6m from business associate

Randall Lane speaks on stage during Global Citizen Now 2026 at Spring Studios in New York City on 14 May. Photograph: Noam Galai/Getty Images for Global CitizenView image in fullscreenRandall Lane speaks on stage during Global Citizen Now 2026 at Spring Studios in New York City on 14 May. Photograph: Noam Galai/Getty Images for Global CitizenMedia Top Forbes editor reportedly fired after receiving $6m from business associateRandall Lane left his job last month after accepting money from founder of firm that does business with magazine The top editor of Forbes left his job last month and was reportedly dismissed for accepting $6m from the founder of a firm that does business with the magazine. The New York Times reported this week that Randall Lane was paid by RJ Shook, whose company, Shook Research, worked with Forbes since 2016 to publish rankings of wealth advisers. The payment was made after Shook sold a majority stake in the company to a private equity firm a year ago. A internal email dated 23 July and reviewed by the Associated Press confirmed that Lane, who had been editor and chief content officer, no longer worked for the company. It provided no other details of his departure. Lane had worked for Forbes for nearly 16 years and as its top editor since 2017. A person who works at Forbes and spoke on condition of anonymity because of the sensitivity of the issue told the AP that the staff discovered the apparent reasons behind the firing by reading the Times story. A subsequent email sent out this week said the company could not comment on the matter further. The Times quoted a person familiar with Lane’s thinking as saying he considered the payment a gift in return for advice he had provided Shook over the years. “‘I made a mistake, and I take responsibility for it,” Lane said in a statement to the Times. “I should have disclosed the gift and failing to was a serious error in judgment. I deeply regret that, and I lost the job and team I love because of it.” Lane and a spokesperson for Forbes did not respond to requests for comment from the AP. It is unclear why Shook paid Lane. But the company and Forbes apparently had a close relationship. On its website, for example, Shook Research lists 12 rankings of wealth advisers and management teams in partnership with Forbes. Forbes’s statement of editorial values and standards says that the company “prohibit[s] all staff members and contributors from accepting compensation, privileges or favors of any kind from people, companies or groups featured in their coverage”. The Times report comes at a low moment for public trust in the media. A majority of Americans – 57% – said they have low confidence in journalists to act in the best interests of the public, according to a Pew Research Center analysis in February. Forbes was founded in 1917 and developed into an influential biweekly account of corporate America, putting giants like Steve Jobs and Warren Buffett on its cover.

Top Forbes editor reportedly fired after receiving $6m from business associate
Asia
The Hindu BusinessLine

Rupee set to weaken after central bank curtails dollar inflow window

The rupee is set to open lower on Monday and will ​likely remain under pressure through the session after the ‌central bank unexpectedly shortened by a month ​the deadline for its discounted forex swap ⁠facility for deposits from non-resident Indians. The rupee is expected to open in the 95.60 to 95.64 range, per traders, ‌having settled at 95.4250 to the dollar on Friday. This comes despite the dollar retreating ‌after weak US retail sales data diminished ‌expectations ⁠of a Federal Reserve rate hike next ⁠month. The Reserve Bank of India said late on Friday it is bringing forward by a month the cutoff for its ​discounted forex swap facility, ‌following more than $50 billion in inflows from non-resident Indian deposits. Banks will now be allowed to tap the zero-cost hedging facility for overseas FX deposits ‌raised by August 31, compared with the ​prior deadline of September 30, according to an RBI statement on Friday. The decision has ⁠been taken “based on the encouraging response to the swap facility for FCNR(B) deposits and the resultant forex ‌inflows,” the central bank said. The RBI decision is “quite surprising”, a currency trader at a private sector bank said. While inflows have far exceeded expectations, bringing forward the cut-off date hurts sentiment for the rupee at a time when oil remains a ‌headwind and the currency is already under strain from ​hedging by importers, he said. The deposit inflows had bolstered the RBI’s forex war ⁠chest, with India’s foreign-exchange reserves climbing to a four-month high ⁠of $707 billion through August 7. The larger reserve buffer provided the central bank more ‌room to lean against rupee weakness. The RBI sold dollars through state-run banks throughout last week to ​support the currency, bankers 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.

Rupee set to weaken after central bank curtails dollar inflow window