Latest Developments

Asia
The Hindu BusinessLine

India bonds may see positive opening, local and US inflation data in focus

Indian government bonds could trend higher at the start of the new ​week, with crucial inflation prints in India and the US set ‌to be released and could provide cues on ​interest rate movements. The yield on the benchmark ⁠6.94 per cent 2036 bond is expected to trade in the 6.75 per cent to 6.79 per cent range, according to a trader at a private bank, ‌after closing at 6.7651 per cent on Thursday. Bond yields move inversely to prices. US Treasury yields fell on ‌Friday after data showed that employers unexpectedly shed ‌23,000 ⁠jobs in July, against analyst expectations of a ⁠rise of 80,000 jobs, indicating signs of weakness in the economy. The unemployment rate eased to 4.1 per cent as labour participation fell, defying expectations for ​the rate to remain ‌steady at 4.2 per cent. This prompted traders to cut odds of a Federal Reserve interest-rate hike in September to 42 per cent, from 55 per cent before the data release and 67 per cent last week. "There ‌should be some positive opening, but any ​major moves are unlikely as we are very close to the key 6.75 per cent levels, which is ⁠unlikely to be taken away very easily unless some new development takes place," the trader said. Traders are to remain ‌focused on inflation prints from India and the US, both due on Wednesday, and will provide crucial guidance on the interest rate trajectory. A Reuters poll of 40 economists has forecast that India's retail inflation rate will rise to 4.50 per cent in July from 4.38 per cent in June. Underlying sentiment ‌stayed supportive for prices as a dovish local monetary policy has ​led analysts to push back their calls for rate hikes. India's central bank kept the repo rate ⁠unchanged last Wednesday, but cut its inflation forecast for the ⁠year and promised sufficient liquidity for the banking system. India's overnight index swap rates could see marginal declines ‌after aggressive receiving last week. The one-year swap ended at 5.77 per cent, the two-year closed at 5.94 per cent, and the ​most liquid five-year swap settled at 6.26 per cent. 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.

India bonds may see positive opening, local and US inflation data in focus
North America
CNBC Economy

U.S. economy slowed to 1.5% growth rate in Q2; June core inflation at 3.3%

Economic growth was weaker than expected in the second quarter though underlying drivers were mostly solid. At the same time, inflation in June held well above the Federal Reserve's goal and complicated the central bank's policy path, the Commerce Department reported Thursday. Gross domestic product, a broad measure of goods and services, increased just 1.5% for the April-through June period, according to Bureau of Economic Analysis numbers adjusted for seasonality and inflation. Economists surveyed by Dow Jones had been looking for a growth rate of 1.8%, following the 2.1% increase in the first quarter. A separate report showed that the personal consumption expenditures price index, which is the Federal Reserve's primary forecasting gauge, fell a seasonally adjusted 0.1% for the month, putting the annual inflation rate at 3.7%. The readings were in line with forecasts. Excluding food and energy, core PCE posted a monthly increase of 0.1% and an annual level of 3.3%, against respective forecasts for 0.2% and 3.3%. While the Fed technically uses the headline PCE number as its gauge for setting policy, most officials consider core inflation as a better indicator of longer-run trends. Stock market futures were positive following the report while Treasury yields were sharply higher. The reports come a day after a divided Fed voted 9-3 to hold its benchmark borrowing rate in a range between 3.5%-3.75%, where it has been all year. Inflation has taken the primary focus for Fed policymakers as labor market indicators have stabilized this year, with the three dissenting votes coming from regional presidents who have expressed concerns about higher prices and the failure to make progress toward the prices side of the central bank's mandate. While the GDP number was below expectations, the miss appeared to come from a decline in federal government spending and inventories. Other parts of the economy appeared strong. Key areas of the economy continued to show improvement: Personal spending rose 2.1% after eking out a 0.4% gain in the first quarter, while a key indicator of underlying demand called final sales to private domestic purchasers posted a robust 3.9% increase. However, inventories fell 0.7% and federal spending was off 0.3%, subtracting from the top-line reading.

U.S. economy slowed to 1.5% growth rate in Q2; June core inflation at 3.3%
Europe
BBC Business

US beef prices have soared but farmers aren't making more money

Image source, AFP via Getty ImagesBySam FenwickBusiness reporter, BBC NewsPublished6 August 2026, 00:23 BSTWith US beef prices soaring to record highs, you might think that South Dakota cattle rancher Eric Gropper would be celebrating. Yet while the cost of the meat in US supermarkets is now 12% higher, external than it was a year ago, a rise more than three times the rate of general inflation, Gropper says that he and all the other beef farmers aren't making any more profit than usual. The BBC World Service's Follow the Money series spent a week tracing the American beef supply chain to find out what has caused the price jump and discover where all the cash is going. Eric Gropper has about 350 breeding cows on around 8,000 acres of grassland in south-west South Dakota. Most of it he leases from the Pine Ridge Indian Reservation. He is seven miles from the nearest paved road, and two and a half hours' drive from the closest town of any size. Gropper doesn't set the price for his calves. Instead once a year he takes them to a livestock auction where buyers place bids and the hammer decides. Right now the bids are the highest he has ever seen - around $2,500 (£1,883) for a 600lb (272kg) calf, up from $2,000 two years ago. These record prices are driven by a simple fact – there are not enough cattle. Due to a combination of drought in many states, and disease pressure, at the start of this year the US had fewer cattle than at any point since 1951., external Gropper is experiencing drought first hand, as the 13 natural wells across his land that provide ground water for his cattle have run dry. He has to use a water tanker instead. Due to the national shortage of cattle, Gropper is getting record prices for his. But unfortunately his costs have equally climbed to new highs. A new pick-up truck that once cost $40,000 now runs to $100,000. A wooden fence post has gone from about $6 to as much as $19. A quarter-mile roll of barbed wire has doubled, from $60 to $130. Everything he uses day to day, he says, has jumped in price since the Covid pandemic. And with little grass on parched fields – well over 60% of US cattle are now grazing on drought-hit land - farms like his are having to buy in hay, silage and other fodder for their cattle.

US beef prices have soared but farmers aren't making more money
North America
CNBC Finance

Why flights are so expensive and will likely stay that way

Airfare in the U.S. in June was up 26.5% compared with a year earlier, according to the latest federal data. Airline leaders say customers continue to book even after carriers hiked fares. They told Wall Street analysts this month that they're expecting to hold onto that pricing power at least through the rest of the year, if not longer. Traveler Marjorie Aran said she and her husband paid a combined $800 to go from New York to Chicago in economy on United Airlines this week to visit their daughter. "We used to go to Chicago for a couple of hundred dollars," she said. Asked if she would skip a trip because of the fares she said no. "We can afford it." The average Southwest one-way fare, for example, was $225.61 in the second quarter, up from $186.65 during the same span of 2025. "Despite high fuel and high prices, we're seeing really strong demand," Southwest Airlines CEO Bob Jordan told CNBC's "Squawk on the Street" in late July. United said it expects to pay about $6 billion more for fuel this year than it expected at the start of 2026. American Airlines forecast a $6 billion increase in fuel costs compared with last year, each a jump of a more than 50% from 2025. Both carriers said demand is still strong, even as they're passing costs on to customers with higher fares. "We observed minimal to no negative impact on demand from higher price points, a trend we see continuing," United Chief Commercial Officer Andrew Nocella told Wall Street analysts on the company's July 16 earnings call. The carrier expects unit revenue year over year for the rest of 2026 to rise and even exceed the second quarter's increase, he said. Airlines are eager to make up not just the billions of dollars more they've paid for fuel this year, but also to cover higher costs of labor, maintenance and basic operating expenses like increased airport fees. "Labor costs have escalated dramatically. Maintenance is off the charts in terms of escalation. And those are all costs that every single airline pays the same," United CEO Scott Kirby said on the call. The surprise surge in fuel costs — airlines' biggest expense after payroll — was a shock to the industry. Airlines pruned schedules this year, which can mean fewer flights per day or week on a certain route. That leaves customers with a lower number of flights to choose from and can lift fares. According to S&P Global Energy Platts data, jet fuel prices have eased from four-year highs in April, but are still up about 50% since Feb. 28, when the U.S. and Israel's strikes on Iran kicked off the monthslong military conflict that has choked off a main shipping channel for months.

Why flights are so expensive and will likely stay that way
Europe
BBC Business

Almost £200,000 of fuel stolen from UK forecourts every day since Iran war began

Image source, PA MediaByJemma CrewBusiness reporterPublished2 hours agoUK drivers have stolen almost £200,000 of fuel from petrol stations on average every day since the Iran war broke out and sent prices soaring, according to industry analysis. Incidents of fuel being taken from forecourts without payment have risen by a fifth in the five months since 28 February, figures from Forecourt Eye suggest. The conflict in the Middle East severely disrupted oil supplies across the region, triggering a rise in wholesale prices and subsequent increase in costs at the pump in the UK. Forecourt Eye said the value of the stolen fuel is estimated to have risen by 48% compared with the five months before the war - to reach an estimated daily average of £194,000. The fuel theft prevention company added petrol stations are reporting an increase in "abuse, intimidation and violence from frustrated customers". The figures are based on a representative sample of 550 forecourts, comparing the five months prior to the outbreak with the five months after it started, and extrapolated to the UK's 8,359 forecourts. The number of incidents recorded at the forecourts in the sample equates to 2,872 daily incidents on average at forecourts across the UK in the months after war began, up from around 2,400. They include people driving off without an attempt to pay, and people claiming they have no way to pay after filling their vehicle. The volume of stolen fuel rose by 24% - up from an estimated 87,000 litres to 108,900 litres a day across all forecourts. In response, Forecourt Eye said it would partner with facial recognition company Facewatch to offer more than 2,000 retailers free access to crime reporting technology from the autumn. Fuel prices peaked in April, before falling back when US and Iran agreed to a framework deal to end the conflict in June, but they have risen again since the collapse of peace talks. Last week petrol reached a new high since the conflict in the Middle East started – and its highest level since 2022.

Almost £200,000 of fuel stolen from UK forecourts every day since Iran war began
Asia-Pacific
The Straits Times

askST Jobs: Is it okay to share my salary online, even anonymously?

Posting your salary anonymously on online forums is generally okay as a personal choice, provided no confidential company information is disclosed. Posting your salary anonymously on online forums is generally okay as a personal choice, provided no confidential company information is disclosed. But anonymous figures often lack context, making them of limited value and sometimes leading to unrealistic expectations, said David Leong, managing director of PeopleWorldwide Consulting. “Salary-sharing platforms can improve market awareness, but users should treat the information cautiously... Employees should also be mindful of their employment contracts,” he said. “While discussing one’s own salary is generally not unlawful, disclosing confidential remuneration information relating to others or proprietary company data may raise contractual or workplace issues. Don’t get into unnecessary issues with such disclosures.” Leong noted that salary is one of the most sensitive topics in the workplace because compensation is rarely determined by a single factor. Two employees with similar job titles may have very different pay due to experience, performance, specialised skills, market scarcity, business impact or legacy employment terms. “What begins as a confidential discussion can quickly turn into workplace gossip, with comments taken out of context and amplified through the rumour mill,” Leong cautioned. “The biggest risk is not discussing salary itself, but how the information spreads. Once conversations are repeated second-hand, they can become distorted, leading to misunderstandings and unnecessary workplace tension. “In many workplaces, information leaks through informal conversations, and by the time it reaches others, the original message may have changed completely, creating resentment and comparisons that were never intended,” he added. Leong said fairness in the workplace is achieved not by everyone earning the same salary, but by ensuring differences in pay can be “objectively explained, consistently applied and aligned with market realities”. Maddy Goh, executive search partner at Inicio Group, said online salary discussions can serve as a “reference point”, but not a “verdict”, as a salary figure on its own reveals little about the scope of a role, its responsibilities, or why that package was offered in the first place.She added that companies discourage employees from discussing their salaries openly because, where pay disparities cannot be clearly explained, employees will naturally question whether the system is fair.

askST Jobs: Is it okay to share my salary online, even anonymously?
Europe
BBC Business

Raleigh owner starts insolvency proceedings

The company that owns iconic Nottingham bike manufacturer Raleigh has begun insolvency proceedings. Accell, based in the Netherlands, bought Raleigh for $100m in 2012 but said on Wednesday it had "exhausted all the available options" and was "no longer able to meet its financial obligations". It comes after a difficult period for Raleigh, which saw redundancies in 2024 and losses of £30m in accounts released the following year. Jonas Nilsson, chief executive of Accell, said it was "a deeply sad and frustrating situation". Raleigh was founded in Nottingham in 1887 and at one stage was the biggest bicycle maker in the world, employing about 8,000 people at its peak. It stopped making bikes in the city decades ago, and in 2024 it vacated its headquarters on Church Street in Eastwood to move to new premises less than a mile away. Announcing plans to initiate insolvency proceedings, Nilsson said Accell had worked "to restructure [its] operations and finances". "Every realistic option for the future of the business has been tirelessly explored, and none have resulted in a solution to continue the group in its current form," he said. "Our immediate focus is to support an orderly process, provide clarity wherever possible, and work with the relevant court-appointed administrators to preserve viable activities and employment where circumstances allow." Listen to BBC Radio Nottingham on Sounds and follow BBC Nottingham on Facebook, external, on X, external, or on Instagram, external. Send your story ideas to eastmidsnews@bbc.co.uk, external or via WhatsApp, external on 0808 100 2210.

Raleigh owner starts insolvency proceedings
North America
CNBC Finance

Fintech broker Clear Street offers investors pre-IPO access to $188 billion AI giant Databricks

Clear Street, the prime brokerage startup that recently shelved plans for its own IPO, is now aiming to give investors access to some of Silicon Valley's hottest private companies before they go public. The firm is close to announcing a new platform designed to let accredited investors buy interests in late-stage private companies, starting with AI software titan Databricks, valued this month at $188 billion, CNBC is first to report. "The goal is to remove friction and give more people the ability to invest in more products," Uri Cohen, CEO and co-founder of Clear Street, said in an interview. "A lot of the wealth creation has been in private markets, and more and more retail investors and smaller investors want to be part of that." More startups are staying private for longer, meaning much of their value creation is taking place before an initial public offering. That has fueled growing demand from rich investors seeking exposure to companies like Databricks, Anthropic and OpenAI before they debut on public markets. Last week, CNBC reported that Goldman Sachs has created a new platform to expand its offerings for wealthy clients and family offices who increasingly want direct stakes in fast-growing private companies. While Clear Street's pitch centers on democratizing high-growth tech, the mechanics of the deals highlight a tricky reality in today's private markets: Databricks isn't directly involved. Instead of buying stock issued by Databricks, Clear Street investors acquire an interest in a special purpose vehicle (SPV) that holds a stake in a third-party fund that owns the shares. To Databricks, the shareholder of record remains that external fund, where they remain legally parked, according to Clear Street. Earlier this year, AI startups like Anthropic cracked down on unauthorized secondary transfers, voiding unapproved SPVs and indirect share sales that bypassed corporate transfer rules. Cohen, the CEO of Clear Street, said that his firm, as counterparty, would stand behind the deals: "If there is a risk, we are taking it." For its part, a Databricks spokesperson said in an email that the startup "does not have any engagement or relationship with Clear Street." Clear Street will have as many as 30 startups on its platform by yearend, mostly tech firms in the $5 billion to $20 billion valuation range that are roughly six months to two years out from an IPO, Cohen said.

Fintech broker Clear Street offers investors pre-IPO access to $188 billion AI giant Databricks
Europe
BBC Business

Meta says AI model accessed the internet and hacked another firm

Facebook owner Meta says an issue during an evaluation by an independent testing company allowed one of its artificial intelligence (AI) models to connect to the internet and hack another organisation's system. The announcement follows recent incidents across the AI industry, including breaches by OpenAI and Anthropic models, that have raised cyber-security concerns. A Meta spokesperson told the BBC that it was investigating the hack that was caused by a "misconfiguration", which it described as similar to previously reported incidents at other firms. The incidents have prompted researchers and governments to call for tougher safeguards and more rigorous testing. Meta said the security trials were conducted by Irregular, the same AI security vendor that carried out tests for Anthropic's AI model that had gained access to three other companies' systems. An Irregular spokesperson said the Meta incident "is the exact same evaluation-environment issue that was already disclosed by Anthropic last week." Irregular is working on a report on how to securely run cyber-security tests involving AI agents, the firm's spokesperson told the BBC. Meta also said it will publish more information on the incident "once we have all the facts." In the past two weeks, AI leaders OpenAI and Anthropic have also reported incidents in which their models hacked into other organisation's systems during testing. ChatGPT-maker OpenAI said in a series of announcements that its agents attacked several publicly available services, including AI tools hub Hugging Face. OpenAI's disclosure prompted rival Anthropic to conduct its own checks, leading to the discovery that its Claude AI model had carried out similar attacks on several firms after a "misconfiguration" gave it access to the internet. Some commentators have questioned the timing of disclosures about the incidents as tech firms wrestle for dominance in AI development.

Meta says AI model accessed the internet and hacked another firm