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Europe
BBC Business

Will Trump Accounts deliver for American children?

Image source, Getty ImagesByMichael RaceBusiness reporter, Reporting fromNew YorkPublished4 hours agoThe launch of Trump Accounts, the new savings scheme aimed at encouraging investing among American children, was marked with an historic ringing of the Wall Street opening bell in the Oval Office this week. But not everyone is convinced the project will prove a success in giving new generations a stake in the so-called American dream, with sceptics suggesting that it will not live up to the hype. The savings accounts are now available to all US children under the age of 18, with babies born between 2025 and 2028 qualifying for a $1,000 contribution to kickstart savings. The move comes as the cost of living remains a major issue ahead of November's mid-term elections, but tax experts told the BBC families on lower incomes could lose out and that the scheme is too complicated. The accounts named after the president are available nationwide and can be created for anyone under the age of 18 with a valid social security number. Parents can simply download the app. Families, friends and employers can contribute up to $5,000 per year per child, who can access the funds when they turn 18. By law, the money must be invested in a low-cost index fund designed for long-term growth. But while the money grows tax free, withdrawals are subject to taxes and a possible 10% penalty if made before the age of 59 and a half. To avoid such a penalty, the money must be assigned to pay for certain things, such as higher education, buying or building a first home, or for personal emergency expenses. Trump Accounts add to other existing tax-efficient savings schemes that Americans can use for retirement, such as IRAs, or for educational purposes, such as 529 plans, which parents use to save for their children's college fees. According to a Congress report,, external Trump Accounts are a new form of traditional individual retirement account (IRA), but differ because of certain rules. While the White House has been keen to push the scheme, reaction to it has been split. The White House's argument is that Trump Accounts offer millions of children a way into stock ownership in the US, which it says has historically been "unevenly distributed, with many households - especially younger and lower‑income families - having little or no exposure".

Will Trump Accounts deliver for American children?
North America
CNBC Finance

PepsiCo earnings miss estimates as U.S. consumers tighten their budgets

PepsiCo on Thursday reported mixed quarterly results as the struggles of its North American food and beverage divisions offset strong international demand. "Results were tempered in the quarter as U.S. food and beverage category performance moderated with consumer budgets tightening due to rising inflationary pressures," CEO Ramon Laguarta said in prepared remarks shared on the company's website on Thursday. During Pepsi's second quarter, global oil prices swung dramatically due to the U.S. war with Iran. In the U.S., the national average gas price hit a four-year high of $4.56 per gallon in late May, leading many shoppers to watch their spending. Pepsi reported second-quarter net income attributable to the company of $2.98 billion, or $2.18 per share, up from $1.26 billion, or 92 cents per share, a year earlier. Excluding restructuring and impairment charges and other items, the company earned $2.20 per share. Net sales rose 6.4% to $24.18 billion. Organic revenue, which excludes acquisitions, divestitures and foreign currency, increased 2.4% in the quarter. Globally, volume for Pepsi's food increased 3%, while volume for its beverages rose 2%. The metric excludes pricing and foreign exchange fluctuations to reflect demand more accurately. But Pepsi's volume growth came from its international markets. Demand was much weaker domestically. Its North American food business reported flat volume for the quarter, and its North American beverage division saw volume drop 4%. "I think the consumer is worse than what we had anticipated, and it's driven mainly by gas prices," Laguarta said on the company's earnings conference call. "We need to see some improvement in the in the convenience and gas channel, and hopefully we'll get some tailwinds from gas prices to do that," CFO Steve Schmitt said. Over the last two years, both North American segments have seen weaker demand as a result of higher prices. In February, Pepsi cut prices on Lay's, Tostitos, Doritos and Cheetos by as much as 15% to try to win back shoppers. The company has also been "restaging" some of its iconic brands, like Gatorade and Lay's, with fresh branding to boost their sales. Pepsi expects that its North American volumes will recover, but that will take time, particularly after this quarter's setback.

PepsiCo earnings miss estimates as U.S. consumers tighten their budgets
Asia-Pacific
The Straits Times

SpaceX to launch giant starship rocket in first flight since IPO

The launch marks the second flight of the latest iteration of the rocket, dubbed Version 3, or V3. SpaceX will attempt a major test flight of its massive Starship rocket on July 16, a milestone for a vehicle that is a critical part of Elon Musk’s plans for the space, satellite and artificial intelligence conglomerate. The launch, targeted for 5.45pm local time (6.45am on July 17 Singapore time) from SpaceX’s Starbase facility in South Texas, marks the second flight of the latest iteration of the rocket, dubbed Version 3, or V3. The rocket will be carrying to space upgraded Starlink satellites that are intended to burn up later in the atmosphere as part of the test mission. The rocket is central to Musk’s ambitions to put data centres in space, expand the Starlink communications network and send humans to the moon and Mars. But it has faced a rocky development path marred by explosive setbacks, malfunctions and delays. The Starship test is the rocket’s 13th flight and first since SpaceX’s blockbuster initial public offering in June that raised around US$86 billion (S$111 billion). Shares of SpaceX soared shortly after their debut but more recently slumped, closing on July 15 near its IPO price of US$135. Despite the decline, Wall Street analysts still remain largely bullish on the stock. Musk’s company has designed Starship to be fully reusable, something no other rocket maker has achieved, with both the Super Heavy booster and the Starship spacecraft intended to return to Earth intact after each launch so they can fly to space again. Musk has predicted that SpaceX could achieve full reusability with the upgraded V3 rocket before the end of the year. SpaceX has spent more than US$15 billion developing Starship. During the most recent test flight in May, Starship successfully deployed mock satellites, although the rocket’s booster spun out of control and one of its engines shut down early. SpaceX has since made hardware and software modifications to correct these issues, according to a post on the company’s website. “We believe that if SpaceX can keep all major engines healthy, execute the planned relight and landing sequence, and bring back stronger heat-shield and control-surface data, Flight 13 would represent a meaningful step beyond Flight 12,” said Raymond James analyst Brian Gesuale in a note on July 13.

SpaceX to launch giant starship rocket in first flight since IPO
Asia-Pacific
The Straits Times

Space start-up funding holds near record highs as SpaceX IPO draws new investors

Space companies raised about $9.6 billion across 141 venture funding deals in the second quarter. Global investment in space start-ups was near record levels in the second quarter, buoyed by investor enthusiasm following SpaceX’s nearly US$86 billion (S$111 billion) initial public offering (IPO), according to a Seraphim Space report on July 16. The landmark listing has broadened investor interest beyond traditional space-focused funds, reinforcing the industry’s emergence as a mainstream asset class. It has also supported larger financing rounds for companies developing launch systems, satellite networks, defence technologies, and other orbital infrastructure. “We’ve seen a clear increase in investor interest over the past year, which has been supported by the SpaceX IPO, but also reflects broader investor recognition of the commercial maturity of the sector,” said Lucas Bishop, investment analyst at the British investment firm. “We are seeing increased inbound from investors with limited or no prior space exposure, who are now looking to build positions in the category.” While Bishop said the first half of 2026 represented an exceptional period for fund-raising and quarterly totals may fluctuate, he said the industry’s underlying investment drivers remained strong. Investors said interest was also increasingly focused on companies serving defence and national security customers, as well as businesses developing in-space computing capabilities, reflecting expectations that governments and commercial customers will boost spending in those areas. Space companies raised about US$7.5 billion across 141 venture funding deals in the second quarter, compared with a record US$8 billion across 159 deals in the previous quarter. “We are now seeing investors put more money into larger funding rounds for established space businesses. That will mean there’s more capital for companies that have already proved their technology works, that there’s clear demand, and that now’s the time to scale,” said Felix von Schubert, executive partner at NewSpace Capital. Investors will be watching whether Jeff Bezos’ Blue Origin completes its reported plan to raise about US$10 billion. The transaction could become among the largest private fundraises in the sector’s history and extend one of the strongest periods of capital formation the commercial space industry has seen. REUTERS

Space start-up funding holds near record highs as SpaceX IPO draws new investors
North America
CNBC Finance

Delta expects higher airfare to last, bringing 2026 profit goal in reach, CEO says

Delta Air Lines' profit goal is in reach this year as the carrier passes along higher fuel costs to customers, pricing power CEO Ed Bastian expects to last even as oil prices drop from multiyear highs. "I think it's sustainable," Bastian told CNBC in an interview. He said fares will likely stay strong thanks to robust demand, more diverse seat options, and a more disciplined airline industry that's learned from the past and isn't likely to expand capacity as soon oil falls. Delta on Friday forecast third-quarter per-share earnings of between $2.00 and $2.50, compared with analysts' estimates of $2.02 a share for the period. The company also projected revenue would be up in the mid-teens compared with the July-through-September period of 2025. For the full-year, the carrier reaffirmed its January per-share earnings forecast of between $6.50 and $7.50. Bastian said demand is strong across the board, noting that Delta, the most profitable U.S. airline, caters to higher-income customers in the K-shaped economy. Indeed, its premium seat sales outpaced the back of the plane in coach. Its premium tickets like first class brought in $6.92 billion in revenue for the quarter, while the main cabin reported $6.85 billion in revenue. Bastian said World Cup demand was stronger than expected, including from inbound visitors to the U.S. In an earnings release, the airline also said corporate travel rose in the second quarter, with the aerospace and defense, banking, and automotive sectors leading growth. Carriers have scaled back growth plans and pruned unprofitable flights after this year's record run-up in fuel, and airfares have surged. According to the latest federal data, May airfare was up nearly 27% compared with last year, though executives say they still haven't passed the entirety of the higher fuel bill on to consumers. Bastian said Delta was passing along about 60% to consumers, and that should get to close to 100% this quarter. Delta's second-quarter revenue per available seat mile, a measure of how much an airline is bringing in for each seat it flies, was up 17% from a year earlier, though its cost-per-available seat mile rose 21%. (Delta has other revenue streams including cargo, a maintenance business and its fuel refinery.) Delta's net income dropped 25% in the second quarter from a year earlier to $1.6 billion, or $2.44 a share, though operating revenue was up 19% from the 2025 period to $19.76 billion. Adjusting for one-time items including third-party refinery sales, Delta posted earnings of $1.03 billion, or $1.56 a share. Delta's refinery was also a bright spot, with revenue in the Trainer, Pennsylvania, facility surging 83% to $2.09 billion. 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.

Delta expects higher airfare to last, bringing 2026 profit goal in reach, CEO says
Europe
BBC Business

Is tracking your food purchases good for your health?

With a packet of biscuits in one hand and her smartphone in the other in the biscuits sucrées aisle of her local Hyper U supermarket west of Paris, Nathalie sees red. Literally. "Look at that!" she says showing me her phone. 0/100 is marked in red lettering. "This is one of Malo's [her 12-year-old son's] favourites but it's not only full of sugar and saturated fats, there are four additives as well including one health risk," she says. Nathalie clicks on the additive in question: E450. "A mineral which, taken in excess, can lead to bone marrow and kidney problems," she reads. "Honestly, that they can put this sort of thing in food aimed at children drives me nuts!" she says. We scan an Italian alternative whose packaging gives you the impression those biscuits have been hand-made by peasant women wearing black shawls. The score is not much better: "Malo hates shopping with me now," says Nathalie. "You spend ages scanning and he can never have what he wants." The app, having activated the red alert, suggests a healthier alternative. It's organic, containing wholewheat, fruit and fibre. Nathalie is one of a growing number of people using Yuka, an app developed in France, to shop more healthily. Not just for food but cosmetics and toiletries too. Download it and you can use your phone to scan the barcodes of any one of the six million products on the Yuka database (about 1,200 new ones a day) and it'll tell you immediately – green for good, red for bad, yellow for could be better. If you want to know more, you can delve further. Pages and pages if you want. Started in 2015, Yuka now has 85 million users in 12 countries: numerous European ones plus the US, Canada and Australia. The third-biggest user is the UK with around five million, second is France with six million, but the biggest by a very long way is the US with 28 million.

Is tracking your food purchases good for your health?
Asia
The Hindu BusinessLine

Fresh data centre capacity rises 59% annually to 258 MW IT in Jan-Jun: Savills

India's data centre segment witnessed a 59 per cent annual growth in fresh capacity additions to 258 MW IT during January-June, according to Savills. In a statement on Tuesday, real estate consultant Savills India said, "The new data centre capacity additions in India surged to 258 MW IT in the first half of 2026, compared to 162 MW IT in H1 2025". The capacity additions took the country's total operational stock to 1.8 GW IT. Of the total operational stock, Savills said that hyperscalers accounted for 36 per cent, followed by enterprise-focused facilities at 8 per cent and edge data centres at 1 per cent. The remaining 55 per cent comprised facilities catering to both hyperscalers and enterprises. "India’s data centre market is set for significant expansion, with total capacity projected to nearly fourfold and reach over 7 GW IT by 2030," the consultant forecast. Srihari Srinivasan, Director & Lead - Data Centre Services, Savills India, said the Indian data centre market continues to witness sustained growth, driven by both established operators and an influx of new funds and developers. "While the broader colocation market has experienced relatively moderate demand due to increasing enterprise adoption of cloud services, demand from hyperscalers and large enterprises remains strong and is expected to continue underpinning market expansion," he added. The consultant expects emerging demand from Neo-Cloud service providers, which are actively evaluating India as a strategic destination because of cost advantages, location-agnostic nature, and expanding infrastructure ecosystem. "Despite the steady market outlook, facilitation of power and suitable land parcels for DC development remains a critical challenge across all key data centre markets in India, requiring Hyperscalers and DC Operators to explore new clusters for future expansion, with the support of local governments," Srinivasan 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.

Fresh data centre capacity rises 59% annually to 258 MW IT in Jan-Jun: Savills
Asia
The Hindu BusinessLine

Paytm plans to infuse ₹100 cr in wealth tech arm Paytm Money

Fintech firm One97 Communications, which owns the Paytm brand, plans to infuse ₹100 crore in its wealth tech arm Paytm Money, the company said in a regulatory filing. Incorporated in 2017, Paytm Money is engaged in providing investment and wealth management services, including stock broking, mutual fund distribution and other financial services. "Additional investment by the company, by way of subscription, to the equity shares of its wholly owned subsidiary, namely Paytm Money Limited (PML) by way of a rights issue for an amount up to ₹100 crore, subject to the necessary approvals, as applicable," Paytm said in a late-night filing on Monday. "PML is a wholly-owned subsidiary of the company. Issuance of up to 10 crore (Ten crore) additional equity shares of face value of ₹10 each by PML, pursuant to the Rights Issue, will not result in a change in shareholding of the company in PML, which remains at 100 per cent," the filing 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.

Paytm plans to infuse ₹100 cr in wealth tech arm Paytm Money
Europe
BBC Business

UK wasted £10bn on PPE that left NHS staff poorly protected, Covid inquiry finds

Image source, Getty ImagesByJim ReedHealth reporterPublished14 July 2026, 12:01 BSTUpdated 2 hours agoThe lives of NHS staff and patients were put at risk in the pandemic because of a lack of adequate personal protective equipment (PPE), with almost £10bn of taxpayers money wasted in a scramble to buy more, the Covid inquiry has said. The chair Baroness Hallett described the "vast" waste in pandemic procurement, amounting to £9.9bn – two-thirds of the £14.9bn the UK and devolved governments spent on PPE. The country entered the pandemic with its stockpile of masks, gowns and gloves in a "perilous state" and was "simply not ready to compete" in the global race to secure new supplies, added the chair. She criticised the controversial "VIP lane", which prioritised offers of PPE from those with political connections, as a "misguided" policy which undermined public confidence. But she said there was "no evidence of cronyism or corruption" by ministers or other officials when awarding the final contracts. When the cost of home testing kits and other equipment, such as ventilators, was included, the total amount spent by the government between January 2020 and June 2022 exceeded £42bn, the inquiry found. The UK's emergency stockpile of PPE, meant to last at least 15 weeks before being replenished, was running out by the end of March 2020 as demand from hospitals soared. Only a third of the masks in England's pandemic stockpile were usable, the inquiry found, while Scotland had no supplies of high-grade respiratory masks used in hospitals. At the time, care homes, GP surgeries and pharmacies were all expected to source their own PPE, something the report described as a "major failure in planning". In total the UK government was forced to write off £9.9bn worth of PPE that was either unused or out of date, as well as £157m for unused healthcare equipment. The "ventilator challenge" programme, where suppliers were asked to develop breathing equipment at short notice, led to another £143m charge for designs that never made it into production. In Scotland approximately £8mn of healthcare equipment, including PPE and testing kits, was written off.

UK wasted £10bn on PPE that left NHS staff poorly protected, Covid inquiry finds