Europe
The Guardian

‘They’re selling the safety of the traveling public’: TSA workers decry Trump privatization push

Airport travelers queue in San Francisco. Photograph: Bloomberg/Getty ImagesView image in fullscreenAirport travelers queue in San Francisco. Photograph: Bloomberg/Getty ImagesTrump administration‘They’re selling the safety of the traveling public’: TSA workers decry Trump privatization pushUnion exploring options to oppose program that would put US airport screening into hands of private contractors The labor union representing workers at the Transportation Security Administration (TSA) is raising alarms over a new program that will expand privatizing security checkpoints at three airports. The agency informed the union last month of plans to enact the TSA Gold+ program, which would shift security and control of the screening technology into the hands of private contractors at airports in Tampa, Charleston and Des Moines. Union workers are expected to lose their union contract and benefits once a contractor takes over. “This is a major departure and step backwards from the aviation screening security system that Congress created in the wake of the September 11 terrorist attacks in 2001 and the deadly bombing of Pan Am flight 103 over Scotland in 1988,” Everett Kelley, national president of the American Federation of Government Employees (AFGE) said in statement. “Changes of this magnitude should not be made behind closed doors without the input of Congress, the flying public, the local airport authorities and TSA employees themselves.” The AFGE is currently reviewing legal options to fight back against the privatization push from the Trump administration. Before the TSA was created in November 2001 by the Bush administration after the 9/11 attacks, airport security was operated by private contractors with less stringent standards. Chris Finlay, a TSA worker in Tampa and president of AFGE local 556, recounted his experience working at another Florida airport where, 12 years ago, a private contractor took over screening. At the time, TSA agents were told their salary would remain the same – only for the contractor to cut pay a few weeks into employment. “For a private contract company, they’re not doing it out of duty for the traveling public or the constitution or anything. They’re doing it because it’s a business decision,” Finlay said. “As a business, their primary goal is to be profitable, and staffing is the most expensive part of that contract, so if they can reduce how much they have to pay staff, they’re going to.” He also noted concerns over security quality. In 2015, an employee working for the private contractor at the Florida airport outside Orlando was fired after they reported a steak knife made it through security to the contractor. “A private company is going to be concerned with being profitable,” Finlay said. “They’re selling the safety of the traveling public for corporate greed. That’s what is happening.”

‘They’re selling the safety of the traveling public’: TSA workers decry Trump privatization push
Europe
The Guardian

US refunds $100bn of Donald Trump’s ‘liberation day’ tariffs

The port of Los Angeles. Tariffs have been a key part of Donald Trump’s economic plan since he took office again. Photograph: Mike Blake/ReutersView image in fullscreenThe port of Los Angeles. Tariffs have been a key part of Donald Trump’s economic plan since he took office again. Photograph: Mike Blake/ReutersTrump tariffsUS refunds $100bn of Donald Trump’s ‘liberation day’ tariffsMore than half of tariff income refunded after supreme court ruled Trump’s levies were illegal The Trump administration has refunded about $100bn from the tariffs it collected before the US supreme court ruled them illegal, according to reports. The $100bn (£74bn) figure, which represents 60% of the total $165bn collected from Donald Trump’s “liberation day” tariffs, was reported by customs officials to the US court of international trade (CIT) on Tuesday, according to the Financial Times. Tariffs, which are taxes on imported goods, have been a key part of Trump’s economic plan since he took office again last year. In February, the supreme court struck down a chunk of the extra tariffs Trump had imposed, forcing the government to return money to the companies that had paid them. Trump has pitched tariffs as a solution for the US economy, bringing back domestic production, securing better trade deals and closing the deficit in the federal budget. However, the deficit has grown after narrowing last year thanks to rising tax revenue and tariff income. It hit $1.37tn in the first nine months of the fiscal year, up 2% compared with the same period in 2025. Trump imposed a fresh round of tariffs on more than 80 countries last month to replace a 10% global duty that was due to expire. The levies range between 10% and 12.5% on countries including the UK, Mexico, Canada, Australia, India, China and the European Union’s 27 members states. The latest tariffs have been introduced under section 301 of the Trade Act of 1974, which is aimed against countries that engage in forced labour. However, this week a coalition of 25 US states sued the Trump administration over the levies, calling them a pretext for replacing import taxes struck down by the supreme court in February. The states have asked the CIT to stop the tariffs, declare them unlawful and order refunds of duties that have already been paid. The states involved in the action argue that the tariffs on 59 countries and the EU cover 99.4% of US imports. Officials in the Trump administration have said the countries have not done enough to crack down on products made by forced labour.

US refunds $100bn of Donald Trump’s ‘liberation day’ tariffs
North America
CNBC Finance

Novo Nordisk shares slide after guidance disappoints investors

U.S.-traded shares of Novo Nordisk dropped about 6% on Tuesday after the Danish drugmaker released guidance that appeared to disappoint investors. The company hiked its 2026 outlook, saying it expects adjusted sales to be down 6% to flat at constant exchange rates. Novo Nordisk previously said it anticipated adjusted sales would fall between 4% and 12%. The drugmaker also said it expects adjusted operating profit to be in a range of down 6% to flat. It had previously anticipated that metric would drop between 4% and 12%, as well. Notably, Novo also said it expects a sales decline in U.S. operations, citing current prescription trends for GLP-1 injections, "intensifying" competition and a negative impact from reduced obesity medicine coverage in Medicaid. The company also cited lower realized prices in the U.S., in part due to the landmark "most favored nation" drug pricing agreement it struck with President Donald Trump for its GLP-1s. Novo Nordisk also announced key financial metrics for the second quarter and first half of 2026, ahead of an expected earnings release on Wednesday. Eli Lilly, its lead rival in the booming market for GLP-1 drugs, is also scheduled to post quarterly results on Wednesday. The Danish drugmaker said second-quarter sales rose to 78.49 billion kroner ($12.09 billion), up 3% in constant currency. On an adjusted basis, sales climbed 7% during the period. Novo said its newly launched pill version of its Wegovy weight loss drug raked in 3.22 billion kroner for the second quarter. That's slightly below the 3.27 billion kroner that analysts were expecting for the period, according to StreetAccount. The pill has now topped 5 million prescriptions since its launch in January, CEO Mike Doustdar said in a statement Tuesday. "We think the lack of upside for Wegovy pill vs. models has stock down," Jared Holz, Mizuho Securities healthcare sector specialist, said in an email to clients. "But in totality this is an improvement from earlier in the year in terms of trajectory." Meanwhile, adjusted operating profit rose 11% in constant currency to 33.39 billion kroner. Those rollouts of the pill and a higher-dose version of the Wegovy injection have helped Novo Nordisk regain its footing in the GLP-1 market after Eli Lilly established a market share lead on the strength of its Zepbound and Mounjaro injections. Get this delivered to your inbox, and more info about our products and services.

Novo Nordisk shares slide after guidance disappoints investors
Asia
The Hindu BusinessLine

Nifty Outlook: Indices stagnate

Nifty 50, Sensex and the Nifty Bank index came down slightly last week. The benchmark indices were down in the range of 0.4-0.85 per cent for the week. However, this has not altered the broader structure on the charts. The bias continues to remain positive. Supports are there to limit the downside for all three indices. We expect the benchmark indices to sustain above their support and rise back going forward. The Foreign Portfolio Investors (FPIs) bought Indian equities for the fourth consecutive week. The equity segment saw a net inflow of about $388.63 million. The FPI action in the coming weeks will need a close watch. If they continue to buy, then that could be a very good positive sign for the Indian markets from a long-term perspective. Short-term view: Nifty has found support around 24,250 last week. Near-term resistance is around 24,500. If Nifty manages to sustain above 24,250 and breaks above 24,500, then that would ease the downside pressure. Such a break can take the index higher to 24,750-24,800 in the coming weeks. An eventual break above 24,800 will then clear the way for a rise to 25,200-25,400. In case the index declines below 24,250 from here, a fall to 24,000-23,950 can be seen, but not beyond that. After this fall, Nifty can rise back towards 24,500 and higher again. Medium-term view: The broader 22,000-26,500 range remains intact. The expected break above 24,800 can take the index up towards the upper end of this range. The bias continues to remain positive to see a bullish breakout above 26,500. Such a break can take the Nifty up to 28,000 and 30,000 in the long term. To negate this bullish view, Nifty must break 22,000. But that looks less likely now. It will need some strong and new negative trigger. Short-term view: The index remained lower but stable all through the week. Key support is in the 57,000-56,700 region. A dip to test this support zone this week cannot be ruled out. However, a fall below 56,700 is less likely. Nifty Bank index can rise to 59,000-60,000 in the short term. This rise can happen either from here itself or after a dip to 57,000-56,700. The short-term picture will turn negative only if the index breaks below 56,700. If that happens, a fall to 56,000 can be seen. Medium-term view: The overall bullish view is intact. The upmove can gain momentum on a break above 60,000. That in turn can take the Nifty Bank index up to 65,000 in the medium term and 68,000-69,000 in the long term. As mentioned last week, series of supports are there at 55,000, 53,000 and 50,000. Our bullish view will go wrong only on a break above 50,000. Short-term view: The price action last week indicates that the Sensex is getting fresh buyers around 77,500. If it manages to get a strong follow-through rise from here, then 78,800-79,000 can be seen this week. It will also keep the upside open to see 80,000 and 82,000 in the short term.

Nifty Outlook: Indices stagnate
North America
CNBC Finance

Procter & Gamble will acquire supplements brand Thorne for $3.8 billion, CEO tells CNBC

Procter & Gamble is buying supplement brand Thorne for $3.8 billion, CEO Shailesh Jejurikar said on CNBC's "Squawk on the Street." The acquisition, which is set to be announced Tuesday, is a bid for P&G to grow its health and wellness division. The consumer goods giant already owns several other supplements brands, like Metamucil, Align Probiotic and New Chapter vitamins, which are housed within a broader healthcare division that includes Oral-B and Vicks. "We are really happy with the asset itself," Jejurikar told CNBC's Sara Eisen. "It's a really well-run operation, and it's been around for a long time." Thorne was founded in 1984 and went public in late 2021 at a valuation of $525 million. L Catterton then took the company private in 2023 in a deal valued at $680 million. Its annual revenue surpassed $500 million in 2025, according to Thorne. Thorne CEO Colin Watts told CNBC earlier this year that it had the potential to become a billion dollar brand within the next few years. The majority of Thorne's revenue comes from shoppers under the age of 40. The supplement brand has also seen a surge in direct-to-consumer sales. In recent years, vitamins and supplements have grown in popularity as consumers look to them to improve every aspect of their health, for everything from sleep to energy levels. The "Make America Healthy Again" movement, led by Health and Human Services Secretary Robert F. Kennedy Jr., has also leaned into supplements. Kennedy himself has said he takes so many vitamins that he can't remember them all. P&G is the latest consumer giant to buy a buzzy upstart in a bid to profit from the trend. Earlier this year, Unilever bought Grüns, a gummy supplement brand. Thorne will be a small piece of P&G's broader portfolio, but the deal demonstrates the company's broader aim of owning relevant, premium brands that appeal to younger consumers. In P&G's latest quarter, its volume was flat, leading to worse-than-expected revenue. Its healthcare segment was the worst performer, based on volume. 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.

Procter & Gamble will acquire supplements brand Thorne for $3.8 billion, CEO tells CNBC
Asia
The Hindu BusinessLine

Sony Pictures India to launch its Tamil GEC in October

The channel, which marks the broadcast network’s entry into Tamil entertainment space, will bring together original fiction, global reality formats, movies and tentpole entertainment across television and digital, it added. The name and logo were revealed on Independence Day through a rendition of Tamizh Thai Vaazhthu performed by children. The logo uses yellow and electric blue, yellow draws from colours associated with celebration in Tamil Nadu, while electric blue gives the identity a fresh, contemporary and premium character. Rajaraman Sundaram, Chief Content Officer – South Regional, Sony Pictures Networks India said,” With Sony VIZHA, we are taking a heartfelt step into Tamil entertainment. This is a market with a rich creative legacy, a deeply expressive language and audiences who have always embraced stories with emotion, honesty and cultural pride. Our hope is to build premium stories that feel close to home while reflecting the confidence and curiosity of a new generation of Tamil viewers - sharper, faster, funnier, and unafraid to look beyond the four walls of the home. At the same time, we want to bring these stories to life with the scale, craft and ambition that can help them travel further.” “Vizha means celebration or festival in Tamil. The name reflects the spirit of the channel: a celebration of Tamil stories, talent, music, family, aspiration and popular entertainment that connects with viewers at an emotional level. The logo uses yellow and electric blue. Yellow draws from colours associated with celebration in Tamil Nadu, including turmeric and marigold, while electric blue gives the identity a fresh, contemporary and premium character, signalling a brand that is culturally anchored, emotionally relevant and globally fluent,” the broadcaster added. 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.

Sony Pictures India to launch its Tamil GEC in October
Asia
The Hindu BusinessLine

Tiger Global reduces big tech bets, adds AMD and SpaceX in Q2 2026

Tiger Global Management reduced its holdings in several major technology companies during the second quarter of 2026, while taking new positions in AMD and SpaceX and increasing its Intel stake. | Photo Credit: STEVE NESIUS Tiger Global Management, a major US investment firm, reduced its holdings in several large technology companies, including Alphabet, Broadcom, Microsoft and Nvidia, during the second quarter of 2026, while reporting new positions in Advanced Micro Devices (AMD) and SpaceX, according to its filings with the US Securities and Exchange Commission (SEC). The investment manager’s holding in Alphabet stood at about 5.81 million shares as of June 30, down from about 10.63 million shares at the end of the March quarter, marking a reduction of about 45 per cent. Tiger Global also reduced its Broadcom holding to about 1.75 million shares from around 3.59 million shares at the end of March, a decline of about 51 per cent, according to a comparison of its quarterly Form 13F filings. Its Nvidia holding declined to about 11.20 million shares at the end of June from around 12.01 million shares at the end of March. The investment manager also reported about 2.27 million Microsoft shares, compared with 2.50 million shares in the previous quarter, while its Meta Platforms holding declined to about 2.82 million shares from around 3.09 million shares. Tiger Global’s Amazon holding stood at about 9.68 million shares at the end of the June quarter, compared with 10 million shares at the end of March. It also reduced its holding in Taiwan Semiconductor Manufacturing Company to about 4.88 million American Depositary Receipts from around 5.57 million at the end of the previous quarter. Netflix, in which Tiger Global had reported about 2.44 million shares in its March-quarter filing, was not listed among its holdings as of June 30. At the same time, the June-quarter filing showed some additions to Tiger Global’s reported holdings. AMD appeared in the filing with 674,727 shares valued at about USD 392 million. AMD was not listed in Tiger Global’s March-quarter 13F filing. SpaceX Corp was also listed in the June-quarter filing, with Tiger Global reporting 375,000 shares valued at about USD 64.07 million. The company was not among the holdings reported in its March filing.

Tiger Global reduces big tech bets, adds AMD and SpaceX in Q2 2026
North America
CNBC Finance

Pfizer tops estimates, hikes low end of revenue guidance on strength of Eliquis, other drugs

Pfizer on Tuesday reported second-quarter results that topped estimates and hiked the low end of its revenue outlook, citing an added $1.5 billion in sales from its non-Covid products. The company is now expecting full-year revenue to total $60.5 billion to $62.5 billion, which compares to a previous outlook of $59.5 billion to $62.5 billion. That sales range would still be roughly flat or down slightly compared with 2025 revenue of $62.6 billion. Pfizer said it cut its full-year revenue expectation for its Covid products – the vaccine and antiviral pill Paxlovid – to $4 billion, down from around $5 billion previously. The pharmaceutical giant reiterated its full-year adjusted profit outlook of between $2.80 and $3 per share. Pfizer reported revenue of $15.03 billion for the first quarter, up 3% from the same period a year ago. Sales increases for key products, including its blood thinner Eliquis and targeted cancer drug Padcev, helped to counteract struggles in its Covid business. Eliquis in particular blew past estimates for the quarter, raking in $2.43 billion in sales, up 19%. Analysts were expecting revenue of $2.08 billion, according to StreetAccount. The company booked a net loss of $248 million, or 4 cents per share, for the period. That compares with net income of $2.91 billion, or 51 cents per share, during the second quarter of 2025. Excluding certain items, including restructuring charges and costs associated with intangible assets, Pfizer posted earnings per share of 77 cents for the quarter. The company also announced the second phase of a multi-year initiative to slash costs, which targets around $1.5 billion in savings through 2029. That phase focuses on what the company called product portfolio enhancements, network structure changes and additional operational efficiencies. The first part of that effort is on track to deliver $1.5 billion in savings by the end of 2027. Pfizer announced an additional $1 billion in savings from a separate cost-cutting program, which will be achieved from 2027 to 2029. That adds to the previously announced $5.7 billion in cost savings the company will achieve through the program by the end of the year. The pharmaceutical giant is looking to longer-term investments in its pipeline, including its recent $10 billion acquisition of the obesity biotech Metsera, to counter waning Covid product sales and declines from older drugs. Investors are focused on several crucial data releases from Pfizer this year, including data on a combination regimen that includes its GLP-1 injection and an amylin asset.

Pfizer tops estimates, hikes low end of revenue guidance on strength of Eliquis, other drugs
Asia
The Hindu BusinessLine

Rajasthan Civil Code 2026 to provide uniform legal framework, says Bhajanlal Sharma

FILE PHOTO: Rajasthan Chief Minister Bhajanlal Sharma announced plans to introduce the Rajasthan Civil Code 2026, while outlining the state’s development, infrastructure and law-and-order priorities. | Photo Credit: ANI Rajasthan Chief Minister Bhajanlal Sharma on Saturday said the state government would be introducing the Rajasthan Civil Code 2026 in line with the constitutional spirit of Article 44, which provides for a Uniform Civil Code. Addressing the state-level Independence Day function at Dr Karni Singh Stadium here, Sharma said the proposed legislation would seek to ensure a uniform legal framework for all citizens of the state. He said the government had taken several big and tough steps to strengthen law and order and create an atmosphere of peace and security in Rajasthan. Sharma said that a legislation had been enacted to check unlawful religious conversions through inducement or fraudulent means. “The government is following a zero tolerance policy towards crime and corruption. This has helped reduce crime and create an atmosphere of peace in the state,” he said. Speaking about the state’s development agenda, Sharma said the government was committed to fulfilling the vision of ‘Viksit Bharat-Viksit Rajasthan’ by 2047. He said that PM Narendra Modi has taken a resolve to make India a developed nation by 2047 and the Rajasthan government is working with the vision of building a ‘Viksit Rajasthan’. He said there has been an unprecedented expansion of the road network in the state and the government is continuously working to strengthen infrastructure and accelerate development. Highlighting India’s progress, Sharma said the country’s digital model is being discussed across the world, and India has emerged as one of the fastest-growing major economies. “Today, the world listens carefully to what India has to say. India is moving forward and its stature on the global stage is continuously rising,” he said. Sharma said Rajasthan is also moving ahead with the resolve to make a significant contribution towards achieving the goal of a developed India by 2047.

Rajasthan Civil Code 2026 to provide uniform legal framework, says Bhajanlal Sharma