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Europe
BBC Business

Matcha and protein pivot pays off for Greggs as profits rise

Greggs's pivot towards healthier products and trending drinks has helped it boost sales, with the bakery chain reporting a 20% rise in profit over the first half of the year. Greggs, the UK's largest fast-food chain, has launched a range of new products this year, many of which latch onto trends such as high-protein salads and matcha. Greggs's chief executive Roisin Currie previously told BBC News the rise of weight-loss drugs has led customers to to look for "smaller portions", which could affect its bottom line. Total sales for the bakery topped £1.1 billion for the 26 weeks to the end of June - 7.2% higher than the same period a year ago. Pre-tax profit for the first half of the year was £76.0m - up from £63.5m for the first six months of 2025. Currie said the company was "broadening and innovating our menu in line with changing tastes and trends". The company relaunched its salad range in May, "adding protein and increased choice for customers". It is also trying to appeal to "new and younger customers" through its new iced matcha lattes, and to health-conscious consumers by making nutritional information on its labels clearer. Greggs, which has more UK outlets than McDonald's, opened 34 stores in the first half of 2026. That brings the total to 2,773, taking into account 31 store closures. More than half of the new openings were in areas with no Greggs stores within a mile. A similar proportion opened away from the High Street in locations including petrol forecourts, supermarkets, retail parks, hospitals and university campuses, it said. Currie said Greggs is monitoring customer behaviour to ensure new stores boost visits "without cannibalising existing shop sales". She also said Greggs had no price rises planned after its breakfast, lunch and "big" deals went up in May, following multiple hikes last year.

Matcha and protein pivot pays off for Greggs as profits rise
Europe
The Guardian

Apple becomes second $5tn company as investors flee AI stocks

Apple’s shares hit a session high ⁠of $342.89 on Tuesday. Photograph: Matthias Schräder/APView image in fullscreenApple’s shares hit a session high ⁠of $342.89 on Tuesday. Photograph: Matthias Schräder/APAppleApple becomes second $5tn company as investors flee AI stocksShare price rally driven by strong product demand as well as decision to sit out AI spending race, amid wider tech sell-off Apple has become only the second company to pass the $5tn valuation mark, as it benefited from investors fleeing AI and semiconductor stocks amid a wider tech sell-off. The iPhone maker’s shares hit a session high ⁠of $342.89 on Tuesday, giving it a market ⁠capitalisation of $5.04tn (£3.78tn), then eased back down to $340.08 – around the $5tn mark. Apple became the world’s most valuable company earlier this month, overtaking the chip giant Nvidia, which had been ⁠at the top since June 2025 and became the first company to breach the $5tn threshold last October. The US consumer electronics company’s rally has been driven ⁠as much by strong demand for its products as its decision to sit out the ​AI spending race that is sapping cash ‌flows at big tech ‌rivals. Its fresh high valuation came amid an intensifying sell-off of AI stocks around the world driven by rising concerns about AI companies’ borrowing to fund datacentre expansion. US chip stocks extended their recent losses when Wall Street opened on Tuesday, with Intel, Advanced Micro Devices, Sandisk, Western Digital and Seagate Technology all down by more than 4%. The Nasdaq 100 index of leading tech stocks fell by as much as 1.8% at one point, meaning since its early June record high it had fallen more than 10% – the technical definition of a market correction. Meanwhile South Korea’s stock market slid to its lowest level since mid-April, with semiconductor companies SK Hynix and Samsung Electronics falling by more than 10%. Analysts attributed the sell-off to renewed worries over AI investment spending, and competition from cheaper Chinese companies, after a report by the Information that China had begun mass production of homegrown deep ultraviolet (DUV) chip-making tools. View image in fullscreenApple’s decision to hold iPhone prices steady, despite increases last month for MacBooks and iPads, has bolstered demand. Photograph: Lucas Jackson/ReutersInvestors may also be growing jittery about the “circular funding” at the heart of the AI industry, through which artificial intelligence companies finance one another. They have also been spooked by the announcement from Google last week that it was further increasing capital spending this year to as much as $205bn to fund its AI plans, while reporting negative free cashflow for ​the first time in its history, burning through $5.9bn in the three months to the end of June.

Apple becomes second $5tn company as investors flee AI stocks
Europe
BBC Business

Ticket prices set to rise by 15p as Heathrow able to recover runway project money

Image source, Getty ImagesByKaty AustinTransport correspondentPublished29 July 2026, 07:18 BSTUpdated 3 hours agoHeathrow Airport will be allowed to charge airlines more for its services to recover money spent on the early stages of its third runway project. The aviation regulator is permitting the airport to claw back up to £320m through higher airport charges to airlines for each passenger. This is likely to end up adding 15p to ticket prices in 2028, rising to 30p in later years. A bidder which unsuccessfully put forward a rival design involving a shorter runway, Arora Group's Heathrow West, will also be allowed to recover £4.1m pounds in costs. The Civil Aviation Authority (CAA) and Heathrow said safeguards would be put in place to protect consumers from unjustified costs. At this stage, the costs being recovered are only for the early planning and design of the runway during 2025 and 2026. How much the cost of actually building the runway will add to ticket prices won't be clear for some time. Tim Johnson, the CAA's director of consumers and markets, told the BBC: "We've announced that the first tranche of costs, which is to help with the planning of this, can be recovered from passengers. That's up to a maximum of £320m." Heathrow airport will also be able to collect Heathrow West's costs up to November last year by adding to its airport charges. The CAA said allowing these costs to be recouped will result in the maximum airport charge per passenger increasing by around 15 pence in 2028, rising to an estimated 30 pence in the following years. A Heathrow spokesperson said: "This project is about making travel more affordable and giving passengers more choice, while providing a real economic boost to every region and nation of the country." "We are carefully considering the CAA proposals and will make investment decisions accordingly," the spokesperson added. In November, the government announced it preferred the £33bn scheme put forward by the airport over Arora's alternative plan.

Ticket prices set to rise by 15p as Heathrow able to recover runway project money
Europe
BBC Business

Chinese chipmaker shares surge nearly 470% in blockbuster stock market debut

Image source, ReutersByPeter HoskinsBusiness reporterPublished27 July 2026, 05:25 BSTUpdated 1 hour agoShares in China's biggest memory chip maker have soared by nearly 470% as they made their debut on the Shanghai Stock Exchange's tech-heavy Star Market. The surge has pushed ChangXin Memory Technologies' (CXMT) stock market valuation to around 3.3 trillion yuan ($487bn; £365bn), making it the most valuable listed company in mainland China. The spectacular debut comes despite a sharp sell-off in technology stocks around the world this month. CXMT manufactures dynamic random-access memory (Dram) chips that power AI data centres, mobile phones, PCs, tablets and other devices. The firm, which was founded in 2016 by Chairman Zhu Yiming, is headquartered in Hefei, Anhui Province in eastern China. The company has said it plans to use most of the proceeds from the initial public offering (IPO) to boost production of memory chips and carry out more research and developments. The stellar performance of its IPO will offer some comfort to Chinese financial officials, who have been rolling out measures to help curb a stock market slump that wiped out more than $1.5tn in recent weeks. Analysts said the jump was also being driven by demand for the shares far outstripping supply. "The reason for the extraordinary bounce this morning is that only 7% of the shares are available for trading," Anna Macdonald, investment strategy director at Hargreaves Lansdown told the BBC's Today programme. It also highlights Chinese investors' strong appetite for a homegrown chipmaker, as the government in Beijing pushes ahead with plans to make its technology industry self-reliant. South Korean tech giants Samsung Electronics and SK Hynix and US-based Micron dominate the Dram market, with the three companies accounting for around 90% of global production. Earlier this month, SK Hynix raised $26.5bn (£19.8bn) in its New York share offering, marking the largest ever listing by a foreign firm in the US.

Chinese chipmaker shares surge nearly 470% in blockbuster stock market debut
Europe
The Guardian

Ex-FCC officials warn agency sending ‘chilling message’ with ABC license review

The FCC chairman, Brendan Carr. Photograph: Kylie Cooper/ReutersView image in fullscreenThe FCC chairman, Brendan Carr. Photograph: Kylie Cooper/ReutersTrump administrationEx-FCC officials warn agency sending ‘chilling message’ with ABC license reviewEx-officials ask FCC to reject petitions to deny renewal of broadcast licenses for eight stations owned by ABC A group of prominent former Federal Communications Commission (FCC) officials, including key staffers and commissioners appointed by both Democratic and Republican presidents, issued a filing on Tuesday that warns the agency is trying to send a “chilling message” to broadcasters after it received petitions to deny ABC license renewals for eight of its local television stations. The network’s licenses are up for early renewal after an extremely unusual order from the Brendan Carr-led FCC in late April, following criticism of ABC by Donald Trump and Melania Trump. The group behind the filing includes Mark S Fowler, who served as FCC chair during Ronald Reagan’s presidency; Alfred C Sikes, who served as FCC chair during George HW Bush’s presidency; Thomas E Wheeler, who served as FCC chair during Barack Obama’s presidency; and several high-ranking lawyers and advisers to past commissioners. “This early license renewal proceeding is unprecedented in the history of the Federal Communications Commission and a grave violation of both the Communications Act and the Constitution,” the coalition wrote in the filing. “Through this proceeding, the FCC seeks to censor Disney’s and ABC’s speech and send a chilling message to all broadcasters: carry speech we don’t like at your peril.” Seeking to put the ABC license challenge into context, the group called the order “the latest attack in a sustained campaign by Chairman Carr and the Trump administration of threatening legal sanctions against licensees whose speech President Trump dislikes”. The filing is a response to petitions to deny ABC’s license renewals submitted by conservative media watchdog the Media Research Center (MRC) and the Center for American Rights (CAR), a conservative legal organization that is closely aligned with Carr and has initiated several complaints against television networks premised on accusations of liberal bias. CAR’s petition to deny ABC’s license renewal accused the network of “[ignoring] long-standing Commission precedents and principles protecting the integrity of the news” and “[engaging] in explicit racial and gender discrimination”. The coalition said in its Tuesday filing that the petitions should be denied because they ask the FCC to wade into “content and viewpoint regulation” and accusations of bias by punishing a network for their editorial decision-making – “a stunning – and plainly unconstitutional – expansion of the Commission’s role”. “As former Chairs, Commissioners, Chiefs of Staff, General Counsels and Bureau Chiefs, we call on the Commission to respect the constitutional and congressional prohibitions on its ‘power of censorship’ and terminate this proceeding,” the group wrote. Interested parties have until 5 August to reply to petitions to deny ABC’s licenses. After that time, the FCC could either grant the extension requests, a prospect that seems unlikely, or schedule hearings on the matter. The process has no clear timetable, leaving ABC and its eight local television stations mired in a cloud of uncertainty about their ability to continue broadcasting long-term.

Ex-FCC officials warn agency sending ‘chilling message’ with ABC license review
Europe
BBC Business

What you wear can help you get a job - here's how

Trying to secure her "dream job" with a fashion company, Taya Reed was highly aware she had to make a good first impression in the interviews. And how she dressed was going to be a key component. A London-based science graduate from two top universities in the UK capital, the 23-year-old had applied for a marketing job at a womenswear brand. She had done her homework, and devised a promotional campaign for the business. But Reed also put a great deal of thought into what she would wear for the interviews, the first online and another in person. "I find outfits can be a good conversation starter," she says, adding she showed up to her main interview wearing an all-white ensemble with ballet flats, a long maxi skirt, and a white vest, all "girly and summery". With youth unemployment stubbornly high on both sides of the Atlantic, young adults need to think of every possible way they can positively stand out in interviews. And while substance matters, research suggests a person's appearance is also important. In a 2020 UK study, 51% of employers admitted turning down a candidate because of the way they looked, with managers indicating they had been influenced by scruffy clothes or poorly dyed hair. Min-Hsuan Tu, a professor of human resources at the University of Buffalo, warns that job interviews can be unfair from the moment a candidate walks in. The main author of a 2021 paper, external on the topic, she says good-looking people get hired more often because people associate attractiveness with positive traits such as trustworthiness and intelligence. Individuals seen as attractive are likely to have received more positive attention and preferential treatment since childhood, helping them better learn non-verbal communication skills from an early age, Tu says. As a result, they can be more confident. "Studies show that attractive people tend to have better communication skills and networks. They also have a higher sense of power," she says. However, physical attractiveness is not limited to one's face or body shape but includes clothing and make-up. Making an effort to present well is important, says Tu. Matt Cohen, a 31-year-old American who moved to London two years ago, aimed for a confident demeanour in his recent job interviews.

What you wear can help you get a job - here's how
Asia
The Hindu BusinessLine

Sundaram Home Finance hikes interest rates for fixed deposits

The deposit base at Sundaram Home Finance stood at ₹2,295 crore as on 31 March 2026. Sundaram Home Finance, the wholly owned subsidiary of Sundaram Finance, has increased the interest rates on 3, 4 and 5 year deposits effective August 1. For regular category, the interest rate has been increased 0.25 per cent to 7.25 per cent for 3 year deposits and to 7.40 per cent for 4 and 5 year deposits. For senior citizens, the interest rate has been increased by 25 basis points to 7.75 per cent for 3, 4 and 5 year deposits. For trusts, the interest rate has been increased by 25 basis points to 7.50 per cent for 3, 4 and 5 year deposits. “Deposits have historically been an integral and important source of funding and constitute about one fourth of our funding basket. We have always valued the faith and trust placed in us by the depositors whose base has now increased to over 15,000 with a renewal rate of over 75 per cent,” said D Lakshminarayanan, MD, Sundaram Home Finance. The deposit base at Sundaram Home Finance stood at ₹2,295 crore as on 31 March 2026. 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.

Sundaram Home Finance hikes interest rates for fixed deposits
North America
CNBC Economy

Trump plans steep tariffs on generic drugs starting in 2028 to spur U.S. production

President Donald Trump said generic drugs imported into the U.S. will face zero tariffs for two years starting August 1, before a 100% levy takes effect in August 2028 and rises to 200% a year later. The phased schedule is intended to push generic drugmakers to move production onshore, Trump said in a social media post Tuesday, describing the escalation as "a penalty" for companies that don't build plants and facilities in the U.S. within the grace period. Tariffs on patented and branded drugs will remain unchanged, Trump said. The president imposed a 100% levy on patented pharmaceutical products and ingredients under Section 232 on April 2, while exempting generic drugs, biosimilars, and related ingredients. Larger drugmakers were given 120 days before the 100% tariff rate goes into effect, and smaller drugmakers, which rely on contract manufacturers, had 180 days before that rate hits. More than a dozen major drugmakers, including Eli Lilly, Pfizer and Novo Nordisk, have struck deals with Trump to lower the prices of new and existing medicines. Those agreements are part of the president's "most favored nation" policy, which ties U.S. drug prices to cheaper ones abroad, and exempts the companies from tariffs for three years. Trump has used tariff threats and his most-favored-nation pricing policy to press drugmakers into charging Americans no more than patients in other high-income countries. The stakes are high for India, as the country's pharmaceutical companies supply nearly 50% of all generic medicines consumed in America. The U.S. accounts for about a third of India's pharma exports, mostly cheaper versions of popular drugs, annually. Chinese firms dominate the upstream supply of active pharmaceutical ingredients, such as amoxicillin and heparin. 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.

Trump plans steep tariffs on generic drugs starting in 2028 to spur U.S. production
North America
CNBC Finance

Moody's says 'unprecedented' AI spending threatens credit quality of Amazon, Meta, Alphabet and others

The race to build artificial intelligence infrastructure at a trillion-dollar annual clip is eroding the free cash flow and increasing balance-sheet risk at so-called hyperscalers, warned Moody's Ratings. In a research note released this week, Moody's said that the spending surge is forcing even the world's most cash-rich corporations like Alphabet and Microsoft to lean heavily on debt, stock sales and off-balance-sheet moves to fund their AI ambitions. "Previously, these companies relied on asset-light structures centered on software, intellectual property, and scalable cloud services that required modest capital investment," Moody's said in the Wednesday note. "The transition from asset-light to asset-heavy models requires unprecedented levels of investment and capital raising." The moves "threaten credit quality" for the six companies tracked by Moody's, which include Microsoft, Amazon, Alphabet, Meta, Oracle and CoreWeave, according to the report. The ratings firm projects that capital expenditures — or capex, which are investment for physical assets like data centers — will hit $785 billion in 2026 before reaching about $1 trillion next year. The shift breaks a decades-long Silicon Valley formula that created the world's most valuable companies. Software costs little to replicate, yielding fat profit margins and fortress balance sheets. Generative AI, by contrast, demands a vast physical footprint: warehouses crammed with expensive and energy-hungry servers and chips. To finance the expansion, tech giants are increasingly turning to Wall Street, resulting in booming profits for the financial industry. Direct debt across the six hyperscalers has reached approximately $460 billion, according to Moody's. Tech companies are also tapping public markets for cash, including Google-parent Alphabet, which last month announced an $85 billion equity sale. The ratings firm noted that because AI hardware and infrastructure require massive up-front investment while revenue materializes over a longer time horizon, free cash flow across the sector is coming under pressure. To keep direct debt off their balance sheets, hyperscalers are leaning on off-balance-sheet financing, mostly through long-term data center leases, the report explained. Moody's said that lease commitments across the group have ballooned to $1.2 trillion. More than $820 billion of that total is from leases that haven't started yet, meaning the data centers are still being built. While these obligations don't show up as traditional debt, Moody's says it considers them as debt-equivalent liabilities that will bind companies to significant rent payments down the line.

Moody's says 'unprecedented' AI spending threatens credit quality of Amazon, Meta, Alphabet and others