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Asia
The Hindu BusinessLine

GSK Pharma Q1 profit up 16% at ₹237.18 cr

GlaxoSmithKline Pharmaceuticals Ltd on Monday reported a 16 per cent rise in consolidated net profit to ₹237.18 crore in the first quarter ended June 30, 2026. The company had posted a consolidated net profit of ₹205 crore in the corresponding period of the preceding financial year, GlaxoSmithKline Pharmaceuticals Ltd (GSK India) said in a regulatory filing. Consolidated revenue from operations in the first quarter of FY27 stood at ₹938.44 crore against ₹805.17 crore in the year-ago period, it added. Total expenses in Q1 FY27 increased to ₹659.75 crore, compared to ₹569.91 crore in the same period a year ago, the company said. The first quarter performance reflects continued progress in the company's portfolio transformation strategy, supplemented by execution excellence and a favourable base effect from the comparable period last year, GSK India said. Commenting on the performance, GSK India MD Bhushan Akshikar said,"GSK India's broad-based growth demonstrates the resilience of the core general medicines and vaccines portfolio and the growing contribution of the innovative business." This growth was enabled by a relentless focus on scientific excellence, sharper execution in the field and meaningful investments in technology and talent development, he added. “With a strong innovation pipeline and launch opportunities ahead, we are well-positioned to deliver sustainable growth and meaningful impact for millions of patients in India,” Akshikar said. 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.

GSK Pharma Q1 profit up 16% at ₹237.18 cr
North America
CNBC Finance

China's Geely to make EVs at Ford plant in Spain under new joint venture

China automaker Geely will build electric vehicles at a Ford Motor plant in Spain under a new manufacturing joint venture in Europe, the companies announced Thursday. Pending regulatory approvals, the companies said the joint venture will begin operations in the first half of 2027, with the first new vehicles scheduled to roll off the line in 2028. The Valencia, Spain, plant will continue to produce the Ford Kuga in the meantime, according to a news release. The companies said Ford will own 66% of the joint venture, while Geely will have a 34% stake. The joint venture is expected to include a new electric crossover for Ford, in "addition to a new member of the Bronco family, plus two electric Geely SUVs, with production starting in 2028," the companies said. The announcement comes after months of reported talks between the two sides, as legacy automakers such as Ford attempt to compete with Chinese carmakers that have quickly been expanding into new markets outside of China for several years. "The joint venture addresses the new realities of the European market -- intense global competition, relentless cost pressure and tightening regulation -- resetting Valencia to build at the industry's emerging cost benchmark," the companies said in the release. Automakers such as Ford have historically partnered with Chinese companies for production and sales in China, however several legacy companies have been geographically broadening such tie-ups. Chrysler parent Stellantis has been expanding its yearslong partnership with China's Leapmotor into Europe, and Germany's Volkswagen has said it is open to sharing under-utilized European factories with Chinese car brands as part of a push to cut costs. Ford's new tie-up comes a day after a U.S. Senate committee approved legislation to toughen a ⁠ban on Chinese automakers entering its home country. Ford CEO Jim Farley, who has been complimentary of Chinese automakers for their speed and products, has previously said the automaker would be looking to partnerships to assist its global operations. Ford's partnership with Geely stretches back to 2010, when it sold Volvo Cars to Geely, the companies said. "We are dedicated to delivering vehicles that European customers will choose on merit: on industry leading features, on high-quality and on actively contributing to Europe's green future. Put simply: we are building cars in Europe, for Europe, alongside a trusted partner," Alex Nan, vice president of Geely, said in the release.

China's Geely to make EVs at Ford plant in Spain under new joint venture
North America
CNBC Finance

A tax break for preserving land has drawn IRS scrutiny. Here’s when it still makes sense

Congress is moving to expand a land preservation tax incentive that has spent nearly a decade under IRS scrutiny. House and Senate proposals of the farm bill would create a new program to provide funding to landowners who agree to keep forests intact rather than sell or develop them. The IRS cracked down on conservation easements after groups of investors used them to generate billions of dollars in inflated tax deductions. However, the tax strategy still has value for individuals and families who want to preserve their land and pay less to Uncle Sam, lawyers who specialize in conservation easements told CNBC. More than a dozen states offer some sort of tax credit for donating land and some, including New York, Colorado and Georgia, have aggressively expanded their conservation easement programs in recent years. "I run into people who say, 'Wow, conservation easements are bad things. They're abusive.' No, they're not. They are for a small set of people and a small set of people that are getting sucked into this by bad actors," said Florida lawyer Keith Fountain. "My clients are people who own land and love the land, and the conservation easements provide a way to get some financial benefit and to keep and own and manage that land for the right purposes forever." Conservation easements let landowners keep ownership of the property while giving up certain development rights. Typically, the owner agrees to permanently limit how the property can be used, often to preserve farmland, wildlife habitats or open space. The landowner can then donate those foregone development rights or sell them at a discount to a land trust, government agency or another qualified group. In return, the owner can claim a charitable deduction. In many cases, they can still reside on the land and use it for recreational purposes like hunting and fishing, as long as they fit the easement's restrictions. Fountain said many of his ranching clients sell conservation easements to keep land in the family and use the proceeds to pay off debt or buy out younger family members who aren't interested in ranching. By selling the easements on their land at a discount, the clients collect cash and can claim a charitable deduction for the difference between the sale price and the fair market value. The transactions targeted by the IRS involve groups of investors, not longtime individual landowners. In these so-called syndicated conservation easement deals, a promoter sells stakes in land to investors and donates the easement. By using an inflated valuation of the property's development rights, the investors are able to claim a tax deduction that exceeds what they paid for the land. In a recent example filed last week, the U.S. Tax Court slashed a $41.6 million deduction claimed by an Alabama partnership to $800,000. The court agreed with the IRS that the deduction was based on a speculative valuation of the property's potential as a limestone quarry. Congress capped conservation easement values in 2022 in order to shut down syndicated easements, but the IRS is still wading through some 1,100 cases. The agency extended a settlement offer in May in an attempt to reduce the backlog. While the government has targeted syndicated deals, individuals can still trigger an IRS audit by donating an easement. For this reason, Fountain said his clients usually choose to sell easements at a discount even though donating one can come with better tax benefits. Many lawyers refuse to advise on conservation easements altogether. However, Carolyn Schenck, former IRS national fraud counsel, told CNBC that conservation easements shouldn't be written off.

A tax break for preserving land has drawn IRS scrutiny. Here’s when it still makes sense
Europe
BBC Business

Businessman and philanthropist Sir Ian Wood dies aged 84

Image source, The Wood FamilyByCraig WilliamsBBC ScotlandPublished27 July 2026, 10:37 BSTUpdated 1 hour agoThe Aberdeen-based businessman and philanthropist Sir Ian Wood has died aged 84, his family has announced. Sir Ian was one of the UK oil and gas industry's most respected leaders, who turned his family's fishing boat repair yard into a global engineering player in the North Sea and internationally. His family said he died peacefully at home and they would remember his "kindness, generosity, determination and unwavering commitment to his family." Sir Ian was one of Scotland's wealthiest people, with a personal worth estimated at £1.8bn. Wood Group started as a family fishing business before Sir Ian took over in 1967. Over the next decades, he formed a separate engineering company servicing the rapidly-growing North Sea oil business. At its height, the Wood Group was valued at more than £5bn, carrying out work in the energy industry around the world. It went public in 2002 and was sold to a Dubai company last year. Sir Ian, who retired as chairman of the group in 2012, was knighted in 1994 for services to the oil and gas industry and was later made a member of the Order of the Thistle, Scotland's highest order of chivalry. Sir Ian's philanthropic work was carried out through the Wood Foundation, which he founded in 2007. It is involved in a number of investments and charitable work around agriculture and conservation in east Africa, as well as projects in Scotland. He was married to Helen for 55 years, was father to Nic, Graham and Garreth, and a grandfather of seven children. The statement from Sir Ian's family said: "Sir Ian was a devoted husband, father, grandfather and friend.

Businessman and philanthropist Sir Ian Wood dies aged 84
Asia
The Hindu BusinessLine

Q1 Results Today Live: DLF, UPL, Torrent Power, IREDA, KEI, Escorts Kubota, Jindal Stainless, Ather, Inox, Nazara, KIMS, MobiKwik, Texmaco, DOMS Q1 results today, Bajaj Finserv, ITC, Urban Company shares gain, Muthoot Finance, Sun Pharma, Persistent Systems in red after Q1

Business people using pen,tablet,notebook are planning a marketing plan to improve the quality of their sales in the future. | Photo Credit: Jirapong Manustrong Q1 Results Today, 03rd August 2026 Live Updates: Find all the latest Q1 results 2026 updates of Amir Chand Jagdish Kumar (Exports), Amerise Biosciences, Amraworld Agrico, Artemis Medicare Services and Ather Energy. Sensex opened 788.7 pts higher at 78,883.34 on Monday against the previous close of 78,094.64 and at 9.16 am, it traded 543.52 pts or 0.70% higher at 78,638.16.Nifty 50 traded 168.45 pts or 0.69% positive at 24,552.05 after opening at 24,572.70 compared to the previous close of 24,383.60. 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.

Q1 Results Today Live: DLF, UPL, Torrent Power, IREDA, KEI, Escorts Kubota, Jindal Stainless, Ather, Inox, Nazara, KIMS, MobiKwik, Texmaco, DOMS Q1 results today, Bajaj Finserv, ITC, Urban Company shares gain, Muthoot Finance, Sun Pharma, Persistent Systems in red after Q1
Asia
The Hindu BusinessLine

Kerala on alert as heavy monsoon rains raise widespread flooding concerns

People living in low-lying areas have been directed to move to safer places without fail, as heavy rain overnight raised concerns of flooding in vulnerable areas. | Photo Credit: NAJEEB KK Several parts of Kerala recorded heavy rainfall, with three weather stations receiving more than 100 mm of rain, according to IMD data released on Monday, as authorities warned of a worsening situation in the southern district of Pathanamthitta. The office of Kerala Tourism Minister P C Vishnunadh said heavy rain in the Sabarimala region had created a worrying situation in the district, with water levels likely to rise in Ranni and nearby areas. Vishnunadh is camping in Pathanamthitta and leading disaster management and relief operations, the minister's office said. It added that he was reviewing the situation at Kozhencherry along with Aranmula MLA Abin Varkey, government officials and other elected representatives. People living in low-lying areas have been directed to move to safer places without fail, as heavy rain overnight raised concerns of flooding in vulnerable areas. In view of the continuing heavy rainfall in Kerala, collectors of many districts have declared a holiday on Monday for all educational institutions. Meanwhile, Chief Minister V D Satheesan has convened an online meeting of district collectors at 10 am to review the rain situation across Kerala. According to the India Meteorological Department, rainfall data recorded between 8.30 am on August 2 and 5.30 am on August 3 showed that Venkurinji in Pathanamthitta received the highest rainfall at 104.5 mm, followed by Udumbannoor in Idukki with 103.0 mm and Cheruthoni in Idukki with 101.5 mm. Laha in Pathanamthitta received 87.0 mm of rain, while Thycattussery in Alappuzha recorded 80.0 mm. Neriamangalam in Ernakulam received 75.0 mm, followed by Ulanadu in Pathanamthitta with 74.5 mm. Mattancherry in Ernakulam recorded 71.0 mm of rainfall. Ranni Chethackal in Pathanamthitta received 65.5 mm, Vadavathoor in Kottayam recorded 64.0 mm, Palluruthy in Ernakulam received 63.0 mm, and Munakkal in Thrissur recorded 62.0 mm. According to the IMD, all these places recorded 60 mm or more of rainfall during the period, which the weather office classifies as significant rainfall. The widespread rain was reported as the southwest monsoon remained active over the state.

Kerala on alert as heavy monsoon rains raise widespread flooding concerns
North America
CNBC Finance

As Honda CR-V leads U.S. sales, automaker teases new American-built pickup truck

Honda Motor on Thursday confirmed a next-generation model of its Ridgeline pickup truck will be produced in the U.S. following a temporary production stoppage later this year. The future of the midsize pickup truck has been in flux amid reports that there could be a production pause coming due to the vehicle not meeting California emissions regulations. The Japanese automaker on Thursday said there will be a temporary production stoppage for the pickup truck later this year at the Alabama plant that produces the vehicle, with assembly returning to the facility within two years, likely in 2028. "The goal is to continue to serve those customers who've been loyal to the Ridgeline," Lance Woelfer, vice president of auto sales at American Honda Motor, told CNBC. "But one of the things that we want to bring forward in the future is increased ruggedness of that vehicle, even more capability." Woelfer declined to comment on whether the more rugged capability will include the vehicle moving from a car-based production process to a more traditional truck assembly, known as "body-on-frame," which is how most trucks are built in the U.S. "That's been an important part of its history. Whether or not it's part of its future, I won't get into that," Woelfer said. "This is a step forward for the Ridgeline that I think everybody will appreciate." Expanding the capability of the Ridgeline, which is more known for smooth driving than ruggedness, could assist in expanding the vehicle's buyers. Sales of the Ridgeline were down about 3% during the first half of the year. The company has sold between roughly 41,000 and 52,000 Ridgelines annually since 2021. That compares with more than 270,000 units sold of the segment-leading Toyota Tacoma in 2025. Honda's confirmation of the new pickup comes as its CR-V compact crossover led U.S. auto sales through the first half of the year for the first time ever. CR-V sales increased roughly 6% compared with last year as the Ford F-Series pickups and Toyota Rav4 crossover, which have led sales in recent years, dealt with production bottlenecks. 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.

As Honda CR-V leads U.S. sales, automaker teases new American-built pickup truck
Asia
The Hindu BusinessLine

Gold, silver seen range-bound as focus shifts to US job numbers, Fed cues: Analysts

Gold and silver are likely to trade in a narrow range this week as traders await a raft of economic data, including the US non-farm payrolls report, for fresh clues on the Federal Reserve's interest rate outlook, analysts said. Investors will monitor purchasing managers' index (PMI) data from the US, the UK, the Eurozone and Japan. Focus will remain on July employment data from the US, comprising non-farm payrolls and the unemployment rate. Globally, developments surrounding the US-Iran conflict and the stability of crude oil supplies through key shipping routes will remain important drivers of market sentiment, they added. "MCX gold to trade in the ₹1.40-1.44 lakh per 10 grams range in the near-term, with the directional move hinging on US macroeconomic data and evolving expectations around the Fed's policy path," said Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities. On the domestic front, gold futures for August delivery fell by ₹1,595, or 1.1 per cent, during the last week to close at ₹1.41 lakh per 10 grams. Silver futures for the September contract declined ₹4,940, or 2.2 per cent, to settle at ₹2.17 lakh per kilogram on the Multi Commodity Exchange. "Gold remained volatile and ended the week on a weaker note, with MCX Gold declining a little over 1 per cent as prices continued to consolidate within a broad trading range," Trivedi said. Despite a weak US dollar and a sharp correction in crude oil prices, gold failed to attract significant buying interest, indicating cautious investor sentiment, he added. In the international markets, Comex gold futures for October delivery ended marginally lower at USD 4,076.6 per ounce, while silver for the September contract during the past week slipped nearly 2 per cent to finish at USD 57.78 per ounce in New York. According to Trivedi, uncertainty over the Federal Reserve's interest rate outlook remained the primary factor weighing on bullion, as policymakers refrained from providing a clear timeline for future policy moves. He noted that market participants will also track speeches by the Federal Reserve officials Lisa D Cook and Thomas Barkin, as well as China's trade data, including exports, imports, Consumer Price Index and Producer Price Index, for additional cues on the global economic outlook and bullion prices. 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.

Gold, silver seen range-bound as focus shifts to US job numbers, Fed cues: Analysts
Asia
The Hindu BusinessLine

India needs more quality universities to curb demand for overseas education: Noel Tata

India needs significantly more high-quality educational institutions to meet the growing demand and reduce students’ dependence on overseas universities, Noel Tata, Chairman of Tata Trusts, said on Sunday, as he outlined the Trusts’ renewed focus on institution-building in education and healthcare. Speaking at the IIM Bangalore Alumni Association’s flagship leadership conclave, IIMBue 2026, Tata said the country’s higher education ecosystem has not kept pace with demand, leaving many students with little choice but to study abroad. The fireside chat was moderated by Sonjoy Chatterjee, Chairman & CEO, Goldman Sachs India, who serves on IIMB’s board of governors. “The country needs a wake-up call on education. We spend an atrocious amount of money every year on sending kids to the US and Europe because there aren’t enough quality institutions here. There is no reason why India cannot provide enough institutions so that everybody who wants to get an education can find an institution which they believe adds value to their children’s lives and will give their children a good career going forward. The problem is enormous,” he emphasised. Describing the proposed undergraduate institution being established in partnership with IIM Bangalore as a significant beginning, Tata said India urgently needs many more world-class educational institutions. Beyond education, he said Tata Trusts is moving beyond its traditional role of funding NGOs and individual development projects towards creating institutions that can serve generations, reviving a legacy that produced institutions such as the Indian Institute of Science, Tata Institute of Fundamental Research and Tata Memorial Hospital. As part of this strategy, Tata announced plans to expand affordable healthcare by developing 40-50 not-for-profit general hospitals across India after partnering with the Assam government to establish 17 cancer care hospitals in the state. The proposed hospitals will operate on a cross-subsidy model, with premium-paying patients helping finance treatment for economically weaker sections without compromising the quality of doctors, medicines or medical facilities. “The idea is to have a few rooms that are a certain percentage of our for-profit rooms, which can subsidise the rest of the patients so that we can offer the same service, surgeon, operation theatre, and medicine. We’ve identified three locations to start that, and I want to do much more on that space,” Noel said. He also said the Trusts are changing the way they assess the impact of philanthropy by focusing on measurable outcomes rather than simply reporting the number of beneficiaries. Reflecting on the role of Tata Trusts, he said the organisation continues to be guided by the vision of its founders, whose objective was to use the group’s wealth to improve lives and contribute to nation building. Tata said the guiding philosophy inherited from the founders of the Tata Group remained unchanged. “The founders left their shares in the company, in their Trusts, and they said, ‘spend money and do what is good for India’,” he said.

India needs more quality universities to curb demand for overseas education: Noel Tata