Latest Developments

Asia
The Hindu BusinessLine

Best of monsoon may be behind us despite fresh depression over Bay

European Centre for Medium-Range Weather Forecasts sees the footprint (in orange shade) of rainfall deficit growing from August-end to early September over most of India. The west coast and Central India may return the worst figures. | Photo Credit: charts.ecmwf.int The monsoon is holding firm over East and North-East India, with parts of North-West India also likely to see relatively good activity through August-end. Elsewhere, however, rainfall may remain subdued, allowing deficits to likely widen steadily. The outlook is that a depression will form in quick succession over the north-west Bay of Bengal and adjoining coasts on Monday. Its location and projected track could confine the bulk of its rains to adjoining East and North-East India. Even this regional spell may fade by the end of August, leaving the country increasingly exposed to a widening rainfall deficit, according to the European Centre for Medium-Range Weather Forecasts (ECMWF). On Monday, the India Meteorological Department (IMD) located the depression near Kolkata, about 80 km west-south-west of Satkhira (Bangladesh), 160 km south-east of Bankura (West Bengal), and 180 km north-east of Baleshwar (Odisha). It is very likely to move to West Bengal, Jharkhand and Bihar until Tuesday. Isolated extremely heavy rainfall was forecast for Odisha and West Bengal on Monday and for Jharkhand on Tuesday. Isolated heavy rainfall is likely over Arunachal Pradesh on Tuesday and for three days from Thursday, and over Assam, Meghalaya, Nagaland, Manipur, Mizoram, and Tripura for seven days from Tuesday. The Himalayan foothills and adjoining West Uttar Pradesh, Delhi, Haryana and Chandigarh may also witness varying amounts of rainfall. Meanwhile, the lean rainfall trend could persist through September as El Niño strengthens its influence on the monsoon, per the ECMWF outlook. In effect, India may already have seen the best of this year’s monsoon, with withdrawal expected to begin from North-West India around mid-September. The all-India deficit stood at 13 per cent on Sunday and is expected to deepen through September. East and North-East India, the worst-hit, is running a 27 per cent deficit, followed by the South Peninsula at 21 per cent. North-West India has a 12 per cent deficit, while Central India remains relatively comfortable at just 1 per cent. Among individual meteorological subdivisions, Arunachal Pradesh has the largest shortfall at 39 per cent, closely followed by Assam and Meghalaya at 38 per cent each. Punjab and Coastal Andhra Pradesh are both 36 per cent below normal, while Rayalaseema is at 35 per cent. Of these deficit-hit regions, the best prospect for meaningful additional rain through the rest of August remains concentrated in East and North-East. For much of the country, monsoon may now be entering its leaner final stretch. Still, the Bay may witness the formation of at least one more low-pressure system before the month is out. 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.

Best of monsoon may be behind us despite fresh depression over Bay
Asia
The Hindu BusinessLine

Broker’s Call: HG Infra Engineering (Hold)

HG Infra reported a weak quarter, with revenue shrinking 47 per cent year on year to ₹900 crore on account of delays in appointed dates, supply chain issues and project specific hurdles. EBITDA declined 67 per cent to ₹77 crore, as margins shrank 530 bps to 8.5 per cent. Adj. loss stood at ₹1.8 crore vs APAT of ₹130 crore. It has booked a one-off profit of ₹30.1 crore on account of sale of three HAM assets. The company’s order-book stands at ₹14,500 crore vs ₹14,700 crore year on year, driven by strong inflows from the highway sector during the quarter. However, executable order-book stands at just ₹8,000 crore, owing to land acquisition delays and project level hurdles, according to the management. On a positive side, it has won new orders worth ₹5,300 crore in Q1. The widening gap between order-book and execution remains a key monitorable on account of delays in several projects. The management has trimmed its FY27 guidance of revenues to ₹6,000-6,500 crore, from earlier ₹7,000 crore, citing slower execution ramp-up while maintaining margin guidance at 13.5-14 per cent and order inflow guidance firm at ₹11,000-12,000 crore. However, we are baking in a slower pace of execution than the guidance implies, basis execution risk on the back of a smaller executable order-book. We maintain Hold with an SoTP-based revised TP of ₹535 (earlier ₹610). 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.

Broker’s Call: HG Infra Engineering (Hold)
Asia
The Hindu BusinessLine

HELM, Parijat Industries announce collaboration across agrochemical value chain

HELM AG, a global chemical company, and Parijat Industries (India) Ltd, an India-headquartered agrochemical company with a multinational presence, have announced a collaboration spanning digital commerce, branded crop protection products, technical manufacturing, and international distribution. A media statement said the collaboration aims to bring together HELM’s agri-input portfolio and technology platforms, including HELM’s portfolio company, PEAT GmbH, the developer of the Plantix digital agriculture platform, with Parijat’s manufacturing base, global distribution network, and formulation manufacturing capabilities. As part of the collaboration, Parijat will acquire a retailer-focused digital commerce platform and associated retailer database, enhancing procurement efficiency, market access, and product distribution across key regions. In addition, Parijat will work closely with the Plantix team to leverage its farmer connection and demand-generation capabilities, including exclusive integration of certain features for direct-to-farmer marketing. The collaboration establishes a new brand line in India, with Parijat and its subsidiary, Leeds Lifesciences, securing exclusive rights to use HELM branding. Parijat also intends to launch HELM’s plant advantage line (biostimulants, biologicals) in India, it said. On the international side, the collaboration positions Parijat’s manufacturing and patented formulation development capabilities to serve HELM’s global requirements. The statement said Parijat intends to develop technical manufacturing capabilities for proprietary molecules developed by HELM, and the partnership intends to establish Parijat as a toll manufacturing partner for HELM’s global active ingredient and formulation needs. Quoting Uday Raj Anand, CEO, Domestic Business, Parijat Industries, the statement said the partnership with HELM and Plantix is an important step towards Parijat’s vision of digital technologies for farmer advisory and distribution in the agrochemical industry. HELM is a multi-billion-dollar, 125-year-old company headquartered in Germany with a global presence. “The opportunity to launch a line of products carrying the HELM brand name in India is an exciting step for our company and a testimony to Parijat’s global reputation for trust and quality,” he said. Stephan Schnabel, CEO, HELM AG, said: “For HELM, partnerships have never been only about commercial opportunity. They are about trust, shared values and the belief that together we can create more value than either side could achieve alone. I am therefore very pleased that we have found a strong partner in India with Parijat Industries. What convinced me is not only Parijat’s expertise in distribution, product development, and manufacturing, but also the company’s entrepreneurial spirit and its clear commitment to ethical, values-based business. “India is a highly important market for the future of agriculture. By combining HELM’s global network and experience with Parijat’s strong local capabilities, I believe we can build something meaningful for customers, growers and the broader agricultural value chain. Parijat is an ideal addition to our HELM partner family, and I look forward to what we can develop together.” 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.

HELM, Parijat Industries announce collaboration across agrochemical value chain
North America
CNBC Finance

Flutter shares plummet on earnings miss and another key leadership change

Flutter shares faltered Wednesday after the company slashed its full-year U.S. profit guidance by 22% and announced the departure of CEO Peter Jackson at the end of the quarter. The current CEO of Flutter's international business, Dan Taylor, will take the reins, effective Oct. 1. The company reported earnings per share of 49 cents for its second quarter, falling below Wall Street expectations of 60 cents per share, according to LSEG. Revenue narrowly beat analysts' estimates, at $4.33 billion versus the $4.26 billion expected by LSEG. For its full-year, Flutter now expects adjusted earnings before interest, taxes, depreciation and amortization for its U.S. business of $760 million, a 22% reduction from previous guidance. Over the past year, FanDuel, Flutter's most important business, began losing its market share dominance in the United States. Now, the parent company is prepared to spend heavily to fix it. "We didn't execute very well last year," Jackson said in an interview following the company's earnings report. The NFL schedule was not especially compelling last season, and its player narratives were lacking, he said. But Jackson also acknowledged Flutter mishandled its own customer proposition, particularly pulling back on promotions and generosity. As a result, FanDuel entered 2026 with a smaller sportsbook business than it should have. Now Flutter is leaning the other way. The company is putting roughly $270 million of additional EBITDA investment into its U.S. business in the second half of 2026, focusing on better rewards, promotions and customer protections. The company said promotional spending will move closer to 6% of handle — higher than previously planned, though not the 7% that some analysts feared. FanDuel's loyalty program reached 70% of customers during the quarter and will be available nationally by football season, the company said. Bet Protect Plus — which refunds a bet when a selected player is injured — is addressing what Jackson called a major customer pain point. The company is seeing momentum across pro sports: NBA Finals actives increased 26% per game; roughly one third of FanDuel's 2.3 million World Cup customers were reactivated; and the sportsbook recently posted its biggest-ever MLB week. "We could've spent a lot less this year and hit our guide," Jackson said. "But it's not the right thing to do." The goal is to enter 2027 with more customers, stronger market share and better momentum — even at the expense of near-term profit, he said. Jefferies gaming analyst James Wheatcroft wrote on Wednesday that he's taking a constructive stance on the stock, despite the "messy reading" from an earnings miss, guidance cut and a new CEO.

Flutter shares plummet on earnings miss and another key leadership change
Europe
The Guardian

Not your imagination: from backpacks to food, consumer goods are getting worse

Wary consumers have noticed a trend in the ‘enshittification’ of products and services. Photograph: Michael M Santiago/Getty ImagesView image in fullscreenWary consumers have noticed a trend in the ‘enshittification’ of products and services. Photograph: Michael M Santiago/Getty ImagesConsumedRetail industryNot your imagination: from backpacks to food, consumer goods are getting worseIs it possible to avoid the continuing decline in quality of consumer products brought on by corporate greed? When Keyana Sapp, 31, went shopping for a new backpack, the brands he remembered as a kid were just not the same. He researched the companies, from North Face to JanSport and Eastpak, and soon realized they were all owned by the VF Corporation after a wave of acquisitions in the 2000s. After a Reddit post he made about his discovery picked up traction, he started looking at other types of consumer goods – cookware, shoes, tools, clothing. “It seems like that was a story that just repeated in every industry,” Sapp told the Guardian. Big conglomerates and private equity were buying up “trusted brands and riding that reputation out until it was a husk of what it was”. From a zipper jam on a nearly new coat to a casserole dish cracking in the oven on its third use, Americans are finding that the quality of many once-beloved name brands is declining. Three-quarters of Americans had a quality or service issue in 2025, the National Consumer Rage Study found, double the rate since the survey started in 1976. And customer complaints have reached record levels, according to the latest University of Michigan American Customer Satisfaction Index. Sapp channeled his personal frustration into building a database of hundreds of brands and ranking them “approved” to “avoid” based in part by their corporate ownership. And as part of his publication, Worse on Purpose, he explains the financial transactions that have undercut the quality of some of the biggest name brands. Sapp sees a structural problem within the consumer retail industry: founders who built brands they love take lucrative offers from big corporations or private equity investors. While they cash in on the decades it took to build their product’s brand, the new corporate owners eventually prove they don’t have the same emotional investment and are distanced from loyal customers. “When you’re running everything from an office building that has no relation to where the product is manufactured and people who are doing the manufacturing”, quality is going to suffer, Sapp said. Big US companies haven’t always been associated with lower-quality products, of course. Purchasing a product from a well-known national brand was often associated with guaranteed quality and consistent customer service for much of the last century. But in recent years, investors have become increasingly “big and powerful” due to the pro-shareholder rights movement and the growth of large institutional investors, explains Dorothy Lund, a law professor at Columbia University. That increased shareholder power can contribute to consumer harm. Thanks to activist investors, many company executives face what feels like “gun-to-the-head pressure to maximize shareholder returns”, or be fired, she said.

Not your imagination: from backpacks to food, consumer goods are getting worse
Europe
The Guardian

US airfares expected to stay high even if Iran ceasefire drops oil prices, experts say

An American Eagle Embraer E175LR plane, operated by Republic Airways, approaches Reagan National airport on 13 May in Washington DC. Photograph: Al Drago/Getty ImagesView image in fullscreenAn American Eagle Embraer E175LR plane, operated by Republic Airways, approaches Reagan National airport on 13 May in Washington DC. Photograph: Al Drago/Getty ImagesUS economyUS airfares expected to stay high even if Iran ceasefire drops oil prices, experts sayDomestic flights cost 26.5% more than last year, data shows, amid demand for travel and reduced oil refining capacity Even if a lasting ceasefire between the US and Iran lowers oil prices, travelers hoping to snag cheaper airfare should buckle their seatbelts and expect continued turbulence. US domestic airfares are 26.5% higher than a year ago, according to June’s consumer price index data, and analysts say prices globally are up 25-30% compared with 2025. Strong demand for travel and reduced global oil refining capacity caused jet fuel prices to spike during the early weeks of the Iranian war. While prices are off their highs, they remain elevated. Jet fuel was trading about $149 a barrel as of 4 August, up from $90 at the start of 2026 – a 65% increase. Crude-oil prices are up about 30% since January, trading around $76 a barrel. Jet fuel costs rise slightly higher than oil prices because on average, only about 10% of refined oil can be turned into jet fuel. “The more limited the product, the more vulnerable it is to these supply shocks,” said Louise Burke, the global head of aviation at Argus Media, a commodities data provider. There have been a “substantial” amount of refinery closures, Burke said, a key to why jet fuel prices have soared so much higher than standard crude oil. A new refinery in west Africa has helped bring on supply, and refiners are making tweaks to boost output to about 12-14% to take advantage of the higher jet fuel prices, which has helped to alleviate some of the shortages. Jet fuel prices are the biggest operating cost for airlines and the hardest to control, said John Grant, the chief analyst at OAG, an aviation data firm. Cost can range between 30% and 35%. Airlines have little wiggle room to control the impact of higher jet fuel prices. Some airlines may hedge their fuel costs to limit losses, but others buy on the volatile spot market. Each carrier has a strategy to control costs, such as how they use aircraft or cut routes. But rising jet fuel prices are just part of the reason for expensive plane tickets. Capacity constraints at Boeing and Airbus have delayed some aircraft deliveries, while the US Federal Aviation Administration’s (FAA) continued staffing issues has led to fewer flights from some of the biggest airports. The ongoing US-Iran conflict gives carriers cover to pass along more of the costs. “For the airlines, there’s no better time to do it. When there’s a war on, they’ve got a great excuse,” Grant said. Demand for flying has also persisted despite higher airfares, giving airlines more leeway to continue charging higher prices. Burke said demand for jet fuel may be peaking with the summer travel season wrapping up, and if there’s a lasting ceasefire, prices could start to normalize. But the impact on energy prices seen after Russia’s invasion of Ukraine in 2022 has shown that it could take a year or so for prices to normalize.

US airfares expected to stay high even if Iran ceasefire drops oil prices, experts say
Europe
BBC Business

'I started in my 20s and made £8,000': Why women are often better investors than men

Women who invest their money get slightly higher long-term returns than men, new analysis suggests. But only about a quarter of UK women have investments, compared with about 40% of men, a separate report shows. We've looked at the data behind these trends, which reveal some surprising differences in how men and women approach investing. Teleri Evans was 25 when she began saving into a Help To Buy ISA then a couple of years later she took out a stocks and shares Lifetime ISA. By 33, she had £40,000 saved - with £8,000 of it returns on her investments. "I saved aggressively, and lived at my mum's for half of that time, so I could save as close as possible to the maximum £4,000 per year into Lifetime ISA," she says. The civil servant from Cardiff used the money towards a house deposit earlier this year with her partner. Only 26% of UK women invest, but that this falls to 23% for those under 45, according to a study by consumer finance website Boring Money. In contrast, 41% of all men invest, which holds steady at 40% of those under 45. It can be "largely attributed to culture", according to Gillian Fleming, co-founder and managing director of UK-based Mint Ventures, a women-led angel investment firm. "Men historically have been more likely to make family investment decisions, and women have also historically not owned the balance of wealth, but that is changing now," she says. "Also, money and wealth creation is not a topic that women often discuss, and we would like to change that." Teleri says she has noticed a shift of late. "Investing is definitely something that women are talking about more, which is always a good thing," she says. "That's the case with my friendship group."

'I started in my 20s and made £8,000': Why women are often better investors than men
North America
CNBC Finance

Sweetgreen cuts full-year outlook as cyclospora fears weigh on sales

Sweetgreen on Thursday cut its full-year outlook and is now projecting steeper same-store sales declines due to diner fears of eating fresh produce during the ongoing cyclospora outbreak. Sweetgreen has not been implicated in the ongoing outbreak that has sickened at least 10,000 people and led to two deaths, according to data from the Centers for Disease Control and Prevention. The Food and Drug Administration has pointed to iceberg lettuce supplied by a Taylor Farms facility in central Mexico as the likely culprit, and the contaminated products have been recalled. The only nationwide restaurant chain linked to the outbreak is Yum Brands' Taco Bell, which is already seeing sales bounce back. Still, fear of the waterborne parasite has weighed on many consumers' desire for fresh produce, particularly salad. "The Company's updated outlook reflects reduced consumer demand for fresh prepared foods due to the multistate outbreak of cyclosporiasis since mid-July," Sweetgreen said in a statement. "The pace and timing of recovery remain uncertain." For 2026, the company is now projecting its annual same-store sales could shrink 7% to 8%. Its previous forecast anticipated same-store sales declines of just 2% to 4%. Sweetgreen is also expecting to report an adjusted loss before interest, taxes, depreciation and amortization of $27 million to $23 million. It was previously forecasting earnings before interest, taxes, depreciation and amortization of $1 million to $6 million. Other restaurant chains not linked to the contaminated iceberg lettuce have also seen their sales fall. Chipotle Mexican Grill said in late July that cyclospora fears had about a 2 percentage point impact on sales in the second half of July. Salad and Go, an already struggling chain, filed for bankruptcy protection on Tuesday, saying that consumer mistrust from the outbreak exacerbated its ongoing business challenges. Sweetgreen also reported its second-quarter results after the bell on Thursday. Its quarterly loss was steeper than expected, and its revenue fell short of Wall Street's expectations. Correction: This story has been revised to reflect that Sweetgreen reported its second-quarter results after the bell on Thursday. A previous version misstated the day. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Sweetgreen cuts full-year outlook as cyclospora fears weigh on sales
North America
CNBC Finance

Salad and Go files for Chapter 11 bankruptcy after cyclospora fears worsened its challenges

Salad and Go has filed for Chapter 11 bankruptcy and is closing all existing locations on Wednesday. The company said in a statement to CNBC that it sought bankruptcy protection due to prior strategic growth challenges, weakening consumer demand and higher costs. Diner fears around eating lettuce due to the ongoing cyclospora outbreak only worsened its issues. The water-borne parasite has sickened at least 10,000 people, according to the Centers for Disease Control and Prevention. Two people have died have died as a result of the outbreak, the Michigan Health Department said Monday. "A Cyclospora outbreak in July, in which Salad and Go was not implicated, weakened confidence across the industry and compounded these challenges," the company said in the statement. Yum Brands' Taco Bell saw its traffic plunge after the Food and Drug Administration linked iceberg lettuce served at some of its restaurants to the outbreak; the chain pulled the affected supply, and Yum executives have said that sales are already recovering. Other chains not linked to outbreak, like Chipotle Mexican Grill, have also seen their sales dip due to consumers' newfound mistrust of fresh lettuce. Founded in 2013, Salad and Go at one time aimed to take on Sweetgreen. It used commissary kitchens to wash its produce and prepare protein options, like chicken, before shipping out the ingredients to the restaurants that would assemble its salads or wraps. Private equity firm Volt Investment took a stake in Salad and Go and eventually bought out company founders Tony and Roushan Christofellis in 2021. Under then-CEO Charlie Morrison, who previously led Wingstop and currently heads Jersey Mike's, Salad and Go pursued an ambitious expansion plan, more than doubling its store count. Morrison left the company in late 2024, reportedly after disagreements with the board. Former Krispy Kreme CEO Mike Tattersfield took the reins in 2025. During his tenure, Salad and Go closed dozens of stores in Texas and Oklahoma. Those closures whittled the company's footprint down to about 70 locations in Arizona and Nevada, which will be permanently shuttered on Wednesday. "This is a painful day for everyone who built, worked for and loved Salad and Go," Tattersfield said in a statement. Salad and Go has assets valued between $500 million and $1 billion and liabilities in the same range, according to the company's bankruptcy filing on Tuesday. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Salad and Go files for Chapter 11 bankruptcy after cyclospora fears worsened its challenges