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Europe
BBC Business

Ban on 'subscription traps' brought forward by three months

Image source, AFP via Getty ImagesByArchie Mitchell, Business reporter, Alex Emery and Emer MoreauPublished10 August 2026, 00:01 BSTUpdated 2 hours agoSubscriptions will be easier to cancel and companies will be compelled to make it clear when contracts auto-renew at a higher price, Andy Burnham has announced. The prime minister is also planning to outlaw shops from falsely claiming products previously retailed at much higher prices to advertise supposed deals, which he said tricks shoppers into thinking they are getting better value on purchases. Burnham will bring forward a package of changes announced under his predecessor Sir Keir Starmer to end so-called subscription traps and a crackdown on "pretend prices". Shadow chancellor Mel Stride branded the measures "reheated" and said the prime minister "has already run out of ideas". The plans were announced under Sir Keir in April, but are being brought forward by Burnham's government in a bid to give families "room to breathe" amid the high cost of living. On subscriptions, the government said the changes will mean businesses have "to provide clearer up-front information, regular reminders and a much easier exit to contracts" for customers. Burnham, who is embarking on a tour of the UK while Parliament is in recess, has promised a series of "everyday fixes" to help people with the cost of living. He said: "I'm determined to pull every single lever we can to provide people with some room to breathe on the cost of living." The measures being brought forward are aimed at making it easier for consumers to cancel unwanted subscriptions and stopping people being rolled onto expensive contracts without their knowledge. They were expected to come into force next spring, but Burnham's government has promised they will now be implemented by January 2027. When they were announced in April, the government said the plans would save consumers £400m a year in total, or up to £170 per person. At the time, the Department for Business and Trade said there are 10 million unwanted, active subscriptions across the UK.

Ban on 'subscription traps' brought forward by three months
North America
CNBC Finance

American Airlines will stop upgrading elite flyers to business from coach on long domestic flights

American Airlines elite frequent flyers have to say goodbye to the free coach-to-business leap on several long-haul domestic routes. Starting Aug. 25, American said it will stop putting frequent flyers with elite status on the upgrade list for business class on some of its transcontinental and Hawaii routes. They'll be put on the list for a complimentary upgrade to premium economy instead. The change is the latest sign of how American and other airlines are working to give fewer high-fare seats away to increase revenue and profits. Getting an upgrade overall has become tougher on many flights with more and more customers paying up for pricier, roomier seats. Routes that include the upgrade to premium economy instead of business class are New York's John F. Kennedy International Airport to Los Angeles; Boston to San Francisco; Dallas Fort Worth International Airport to Honolulu, Kona and Maui in Hawaii; Phoenix to Honolulu; and Chicago O'Hare International Airport to Honolulu and Maui. Elite flyers who bought a premium economy ticket or purchased an upgrade after buying a coach ticket are still eligible for the complimentary upgrade, American said. "We'll do our best to accommodate your seating preferences, though options may vary depending on aircraft type and availability," American said. "In Premium Economy, some aircraft types include middle seats, so you may be assigned one if other seating options aren't available." 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.

American Airlines will stop upgrading elite flyers to business from coach on long domestic flights
Europe
BBC Business

'You could smell someone' who worked at Raleigh

The news the company that owns Raleigh has begun insolvency proceedings means one of Nottingham's most prestigious manufacturing names may have reached the end of its journey. From being one of the city's big three employers - along with Boots and Players cigarettes - with 8,000 staff, it may have finished its days being little more than a logo. But during the decades of its existence, it touched the lives of countless people, both those who worked there and those who enjoyed its bicycles. He said: "Raleigh - Players and Boots too - came to the school offering careers and since it was so close I went for Raleigh. "It had such a great atmosphere, though you had to be able to take having the mickey taken out of you! "It was diverse and so friendly, so full of characters, the social club was a great place." "One weird thing was you could smell if someone worked for Raleigh. I think it was the metal mixed with grease and oil. "And the factory dominating the area. I once walked past the gate just before four o'clock and everyone was pressed up against it, ready to run. "But here's the thing, I never rode a Raleigh as I couldn't afford one," he said. "I had grown up with Raleigh and joined in 1973, and I gained new friends at every stage of my 47 years and met my wife there, so it was very much the background to my life. "There used to be so many people working there we not only had a football team, we had our own league. "But then the redundancies started coming - I don't know how many times I walked into an office not knowing whether I would have a job when I came out.

'You could smell someone' who worked at Raleigh
Asia
The Hindu BusinessLine

Six dead, several injured in stampede at Bihar temple

Police personnel and officials of the district administration have reached the spot, and the rescue work is on. At least six people were killed and several others were injured in a stampede at the Ashok Dham temple in Bihar's Lakhisarai district on Monday, officials said. The incident occurred due to a heavy rush of devotees at the temple to offer water to lord Shiva in the holy month of Shravan. Sub-Divisional Police Officer (SDPO) Shivam Kumar said, "At least six devotees died in the stampede at Ashok Dham Temple in Lakhisarai on Monday morning. Police personnel and officials of the district administration have reached the spot, and the rescue work is on." 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.

Six dead, several injured in stampede at Bihar temple
Asia
The Hindu BusinessLine

BCAS reviews safety protocols, handling norms following accidental firearm discharge at Varanasi airport

The Bureau of Civil Aviation Security (BCAS) is examining the adherence to the prescribed procedures for handling and carriage of licensed weapons at airports. Normal flight operations continued without disruption at Varanasi airport after security screening personnel were injured in an accidental weapon misfire, prompting the Bureau of Civil Aviation Security (BCAS) to launch a formal inquiry to examine safety procedures and protocol adherence, a press release stated. According to the Civil Aviation Ministry, at approximately 9:30 am on Sunday, a passenger, Kamlesh Kedarnath Rai, scheduled to travel from Varanasi to Mumbai on Air India Express flight IX 1810, declared a licensed firearm (7.62 mm pistol with 21 live cartridges) at the check-in counter, as required under the prescribed procedure. The passenger was escorted to the designated screening area for completion of the mandatory security formalities. During the handling and inspection of the weapon, a round was accidentally discharged. The projectile ricocheted and caused injuries to two screening personnel, Rohit Raj and Suman Kumari. Both personnel were immediately assisted and shifted to New Lakshmi Trauma Centre, Varanasi, for medical treatment. The local police were informed immediately, and the passenger has been detained for investigation and further action in accordance with law, the press release stated. The press release further noted that the BCAS is examining the circumstances leading to the incident, including adherence to the prescribed procedures for handling and carriage of licensed weapons at airports. Appropriate action will be taken based on the findings. The incident was promptly contained, and airport operations are continuing without disruption. Earlier, the Deputy Commissioner of Police (DCP) Gomti Zone, Varanasi, Neetu Kadyan said, "We received information this morning at 10 am regarding a firing incident at Varanasi Airport. Acting promptly on this information, Phulpur police and officials inspected the scene. The investigation revealed that Kamlesh Rai, a resident of Azamgarh, was travelling to Mumbai on an Air India Express flight. Airport authorities informed us that he had duly declared the licensed pistol he was carrying, which holds an all-India permit, prior to the flight. While he was undergoing the standard pre-boarding security check by CISF and airline staff, a round accidentally discharged from the chamber, injuring two ground staff members present at the spot." The DCP said that both individuals were in stable condition, a police field unit has inspected the scene, and Phulpur police are taking further legal action. 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.

BCAS reviews safety protocols, handling norms following accidental firearm discharge at Varanasi airport
North America
CNBC Finance

Shaquille O'Neal says WNBA players' treatment of Caitlin Clark is a rite of passage

NBA great Shaquille O'Neal told CNBC he thinks Caitlin Clark is facing a rite of passage that "all the greats went through" as the Indiana Fever guard navigates her third season in the WNBA. "Once she passes through that, the league will belong to her," O'Neal said during a CNBC Sport interview on the set of his show, "Dunkman." Clark has been the target of some harsh fouls that include hip checks, eye pokes and a recent blow to the throat. That, combined with league officiating, has spurred national debate and even prompted some lawmakers to seek "accountability" from the league for its handling of behavior against Clark. O'Neal said he experienced similar treatment during his playing days and that he watched the same take place with basketball legends such as Michael Jordan, Kobe Bryant, LeBron James and Magic Johnson and with boxer Muhammad Ali. "All the greats have to go through what we call rites of passage. She's a fabulous player, but we're not giving you anything, ever. You have to earn it," O'Neal said. "So for her, she needs to toughen up, take those licks, and show them that, 'These licks don't bother me.'" Three-time WNBA champion Diana Taurasi, who played 20 seasons in the league, recently disputed the idea that the game has become more physical. "If you think the game is physical now, go back and watch the girls' Finals 15 [or] 16 years ago," she said, speaking at the CNBC Sport x Boardroom Game Plan Summit last month. The physical play against Clark intensified on June 24, with a hit to the throat from Phoenix Mercury forward Alyssa Thomas. No foul was called on the play, but following widespread criticism, the league reviewed the play and Thomas received a one-game suspension for "recklessly making contact with her fist to the throat area." On July 3, Clark addressed the incident, saying the "reffing needs to be better" and the "league's just gotta do better protecting players." "Ultimately, the issues around Caitlin Clark are not largely about officiating," NBA Commissioner Adam Silver said at the July Game Plan event. "She's become a bit of a political football in this country, and I think that's incredibly unfair to her." O'Neal said that Clark has to continue to prove herself to the other players in the league. "There's a lot of other girls with similar skills, who get no play, who get no mention, and there's jealousy — professional jealousy," he said.

Shaquille O'Neal says WNBA players' treatment of Caitlin Clark is a rite of passage
North America
CNBC Finance

Paramount Skydance raises full-year profit guidance, remains 'confident' about WBD merger

Paramount Skydance raised its full-year guidance on Tuesday and reported second-quarter results that showcased the continued strengths of streaming and weaknesses of linear TV. While Paramount beat Wall Street expectations for revenue and reported gains in its streaming unit, led by its Paramount+ streaming service, its portfolio of cable TV networks continued to weigh on the overall company. Still, Paramount noted that cost cutting and its "creative execution" for the traditional TV business helped to improve margins and profit in the quarter. Paramount reported net earnings attributable to the company of $41 million, or 4 cents per share, versus $57 million, or 8 cents per share, in the comparable year-earlier period. The company's reported EPS for the second quarter was not comparable to Wall Street estimates of 15 cents per share adjusted, according to LSEG. Paramount reported $6.91 billion in total revenue, up slightly year over year. Revenue for the direct-to-consumer streaming segment — which consists of Paramount+, BET+ and the free, ad-supported Pluto TV — was up 9% to $2.47 billion, while film studios revenue increased 16% to $1.31 billion. TV media revenue declined 9% to $3.13 billion. The company said the second quarter was its "best quarter for retention in Paramount+'s history," due to series like the "Yellowstone" spinoff "Dutton Ranch," as well as live sports like the UFC and offering of the FIFA World Cup in parts of Latin America. Paramount+ added 2 million subscribers during the quarter, bringing its total to 81.6 million global customers. The company said Tuesday it was raising its full-year 2026 guidance for adjusted earnings before interest, taxes, depreciation and amortization to a range of $3.8 billion to $3.9 billion, due to savings from last year's merger of Paramount and Skydance. The company has said it plans to save $3 billion from the consolidation. Paramount still expects total revenue in 2026 of $30 billion, representing 4% growth year over year. Direct-to-consumer revenue from both streaming subscriptions and advertising is expected to accelerate for the year. For the third quarter, Paramount expects total revenue of between $6.95 billion and $7.15 billion and for Paramount+ subscriber additions to be "flattish" quarter over quarter. Tuesday's earnings report comes nearly one year since the completion of Skydance's merger with Paramount, putting the storied Hollywood company under the leadership of CEO David Ellison.

Paramount Skydance raises full-year profit guidance, remains 'confident' about WBD merger
Asia
The Hindu BusinessLine

AI may help cut legacy tech debt, but clients fear creating a new one

Conversations with IT industry clients indicate that enterprises are still not entirely sold on the idea of making AI bets, even as the broader IT services industry has begun shifting towards AI-led deal wins. India’s IT services companies have entered FY27 with a measurable reduction in clients’ legacy technology debt. Firms such as Tech Mahindra have set ambitious targets of achieving a 30-35 per cent reduction in technical debt. Yet, clients, particularly from the manufacturing and BFSI sectors, told businessline that the industry remains cautious about inadvertently creating a new form of technical debt in the future. “The worry is that enterprises may potentially end up creating a new tech debt. For example, in AI-assisted coding, there is the risk of accumulating tech debt because organisations may not have complete visibility into every line of code being generated. That is a little concerning,” said Vijay Balakrishnan, Chief Digital & Information Officer, Godrej Enterprises Group. Despite modernising nearly 90 legacy applications and achieving around 60 per cent faster migration through AI-enabled software development, enterprises continue to view technical debt as an inevitable part of their technology investments. “Technical debt follows a principle similar to the conservation law; it cannot be created or destroyed, only transformed from one form into another,” said Balakrishnan. On the financial services side, BFSI clients continue to raise three key concerns: the probabilistic nature of AI, which limits large-scale production deployment; the lack of regulatory clarity, which restricts mass adoption; and the governance mechanisms required to safeguard against risks associated with the technology. Additionally, the token-based cost of AI usage remains a significant concern. “A lot of banks and NBFCs are realising that while AI can accelerate digitisation, the associated compute costs, if not managed efficiently, can become a major financial burden,” said Sanjay Varma, President, Fintech Solutions Group, Aurionpro Solutions. The company advises its BFSI clients to optimise token consumption and manage AI costs carefully. BFSI and manufacturing rank among the top four verticals for India’s large IT services companies. Amid broader macroeconomic pressures, the cautious approach adopted by these sectors is increasingly reflected in the performance outlook of IT services firms. This trend was evident in the recent earnings calls of companies such as Tata Consultancy Services (TCS) and Wipro, where management acknowledged a slowdown in discretionary technology spending. “AI is reshaping spending priorities across organisations. From a client perspective, budgets for traditional IT services, BPO operations and support functions are increasingly coming under pressure,” said Srini Pallia, CEO and Managing Director, Wipro, during the company’s latest earnings call. The concern is particularly relevant for BFSI and manufacturing, where a “mostly correct” answer may not be good enough. The real risk is the dependence on an AI system without clearly understanding its limitations or how easily it can be replaced, as per Sandeep Gogia, MD, Tech & Digital, Equirus Capital. Acknowledging the tech debt concerns, Titus M, Practice Director at Everest Group, noted that AI introduces significantly more variables into technology decision-making. “Every decision across the technology stack now has implications. Even committing to a particular AI model can create a form of technical debt. Poor data foundations, inefficient usage practices and low token efficiency can further add to the problem,” he said.

AI may help cut legacy tech debt, but clients fear creating a new one
Asia
The Hindu BusinessLine

India’s Russian crude imports hit record high in July

India’s crude oil imports from Russia hit a record, in value terms, at around $6.4 billion, or roughly ₹61,000 crore, last month, surpassing the June 2026 high of $5.14 billion. Analysts and refiners emphasised that Moscow has transformed into New Delhi’s strongest energy security hedge, particularly since the closure of the Strait of Hormuz (SoH) and growing disruptions in the Bab-el-Mandeb strait. The Finland-based Centre for Research on Energy and Clean Air (CREA) pointed out that while Russia’s oil product exports hit an all-time low, India recorded its highest level of imported Russian crude ever. “India’s imports of Russian crude oil reached a record high for the second consecutive month in July 2026, rising by 2.1 per cent M-o-M and valued at euro 5.5 billion,“ it said. India’s imports of Russian crude oil reached a record high for the second consecutive month in July 2026. The increase was driven by terminals other than the two largest, Jamnagar (Reliance Industries) and Paradip (Indian Oil Corporation), it added. “Imports rose by 58 per cent at HPCL Mittal Energy (HMEL) Mundra, 35 per cent at IndianOil Vadinar SMPL and 37 per cent at Mumbai, while volumes at Jamnagar were unchanged and those at Paradip fell by 22 per cent,” CREA said. In July, Russian oil product export loadings fell 23 per cent to 4.7 million tonne (mt), their lowest level on record and less than half the 9.6 mt loaded in July 2025. Tuapse, under sustained drone attack since May, loaded almost no oil products for a second consecutive month, CREA pointed out. Overall, India was the second-largest buyer of Russian fossil fuels in July 2026, importing a total of Euro 6.4 billion ($7.4 billion) of Russian hydrocarbons. Crude oil constituted 87 per cent of India’s purchases, totalling Euro 5.5 billion. Coal (Euro 512 million) and oil products (Euro 341 million) constituted the remainder of their monthly Russian imports. Russia’s crude oil export revenues were broadly flat, up 1 per cent month-on-month to Euro 392 million per day. However, this masks a 21 per cent fall in pipeline crude export earnings, offset by a 7 per cent rise in seaborne crude export revenues, it added. In July 2026, the average price of Russia’s Urals-grade crude fell by 3 per cent month-on-month to $60.22 per barrel, still significantly higher than the EU and UK price cap of $44.1 per barrel, which took effect on February 1, 2026 and has been capped at the same level under the EU’s 21st sanctions package. The price discount of Urals-grade crude oil relative to the global benchmark Brent remained flat at 26 per cent, or $21 per barrel last month, CREA said.

India’s Russian crude imports hit record high in July