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The Hindu BusinessLine

England defeat Norway 2-1 as Jude Bellingham shines in World Cup quarterfinal

FIFA World Cup 2026 - Quarter-final - Norway v England - Miami Stadium, Miami Gardens, Florida, U.S. - July 11, 2026: England’s Jude Bellingham celebrates after scoring the extra-time winner against Norway. | Photo Credit: Mike Segar Jude Bellingham scored in the third minute of extra time to lift England past Norway 2-1 and into the World Cup semifinals for the first time since 2018. Bellingham’s goal was his second of the game — he also had an equaliser late in the first half. The Real Madrid star is now tied with England teammate Harry Kane with six goals in this tournament, behind the eight of France’s Kylian Mbappé and Argentina’s Lionel Messi. He scored twice in the round of 16 as England beat co-host Mexico. England, winner of the 1966 World Cup and facing pressure to return to the title match, is now one win away from getting there. The Three Lions will face either Argentina or Switzerland, who were set to play Saturday night in Kansas City, Missouri. Andreas Schjelderup scored in the 36th minute for Norway, a squad that reached its first quarterfinals and took the internet by storm with its “Viking row” and the charisma of 6-foot-5 striker Erling Haaland. Haaland — the Manchester City star who had seven goals in this tournament — was held without a goal for the first time in the World Cup. He was subbed out on Saturday for Jorgen Strand Larsen in the second half of extra time. Norway nearly went ahead 2-1 in the 56th minute when Torbjørn Heggem put a rebound past goalkeeper Jordan Pickford after a corner kick. Following a video review, the goal was disallowed because of a foul by Haaland in the box. Haaland was also denied by Pickford on a point-blank header in the first half. Schjelderup, making just his second start of the tournament, fired a shot that caromed off the right post and into the net to stun an England team that had dominated possession to that point. Bellingham’s equaliser from close range elicited a roar from that crowd that included Mick Jagger and England great David Beckham. Schjelderup, who set up both of Haaland’s goals in Norway’s round of 16 win over Brazil, celebrated by stretching his arms wide and looking at the crowd as his teammates lifted him onto their shoulders. Meanwhile, Kane sat near midfield, grabbing his leg and looking toward the officials. No foul was called. Moments before Bellingham evened the score, a Norway goal kick resulted in the ball appearing to make contact with an aerial camera cable before landing at the feet of England’s Elliot Anderson. The ball was eventually played to Bellingham, who beat Ørjan Nyland with a low shot to the far post. By rule, if the ball had been noticed hitting the cable, play would have stopped, and a drop ball would have been utilised to determine possession. There was a brief moment of silence before the match in honour of Jayden Adams, the 25-year-old midfielder for South Africa whose death was announced earlier Saturday. 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.

England defeat Norway 2-1 as Jude Bellingham shines in World Cup quarterfinal
Europe
The Guardian

As auto costs rise, will the US miss the golden age of electric vehicles?

Slate, an EV startup, makes electric trucks and SUVs. Customers buy only the features they want. Photograph: Myung J Chun/Los Angeles Times/Getty ImagesView image in fullscreenSlate, an EV startup, makes electric trucks and SUVs. Customers buy only the features they want. Photograph: Myung J Chun/Los Angeles Times/Getty ImagesUS newsAs auto costs rise, will the US miss the golden age of electric vehicles?Shifting demands and political ideology have left the industry vulnerable to global competition from cheap Chinese cars Earlier this month, an intriguing new Detroit-based electric vehicle startup hit the market – Slate Auto, a Jeff Bezos-backed venture offering something US buyers rarely see these days – a pick up truck billed as “affordable”. Its base price is $24,950, making it one of the lowest-cost autos in the US market and close to half the price of the average new vehicle. But as the US contends with sharply rising auto costs, even Slate may be getting left behind in the global electric vehicle (EV) transition. The global EV industry is entering a golden age powered by cheap Chinese cars that can be bought for as little as $10,000. About 20% of new cars sold in December in the UK were Chinese-made, as were 12% of vehicles sold throughout the last year. They also accounted for about 6.4% of European Union sales, despite a new tariff program. Chinese cars cannot be sold in the US. The US industry’s shift is complicated by changing political ideologies and consumer demand – American buyers have gravitated toward bigger cars with all the bells and whistles, so it makes sense for domestic automakers to produce those. But EV supporters say the US is ceding significant ground to China in this essential market. While Slate is a step in that direction, a failure to do more could have economic and national security fall out, said Dan Krassner, executive director of the American EVs Jobs Alliance, a non-profit that works to break down the political divide over electric vehicles. “We can’t hand the whole auto industry to Beijing,” Krassner said. “EVs are the big manufacturing prize of the century, and America has to get back in the race.” Slate began accepting preorders last week, and it could help fill a need in the domestic market. Fewer than 5% of new vehicles in the US sold for $25,000 or less last year, down from nearly 21% in 2019, according to an Edmunds analysis. During that same time frame, the average new vehicle transaction jumped about $11,000 to $48,402. The Slate truck is one of eight new US models available for under $25,000. Compare that with China, where more than 200 EVs and hybrids are available in the same price range, according to industry analyst DCar. The two-seat Slate truck at under $25,000 is no frills – it comes with hand-crank windows, no stereo, no speakers, no ambient lighting, a smartphone mount on the dashboard instead of a navigation system, and standard cruise control instead of adaptive. The Slate truck gets an estimated 205 miles of range, and it is small – think of Ford Rangers and other pick ups from the 1980s. At 14.5 ft, it is shorter than a Corolla. Moreover, the $24,950 is just the starting point for a Slate, and the company offers a range of 3D-printed accessories, a stereo, a fob and an add-on that converts it into a five-seat SUV. Customers can also pay extra for vinyl wraps instead of paint, which eliminates the need for the company’s plant to include a paint shop. But opting for those basic features quickly takes the price north. Jessica Caldwell, executive director of Insights with Edmunds, likened the Slate to a budget airline such as Rynair, which offers a cheap ticket to physically get on a plane, but the add ons that make the flight tolerable quickly add up. She is skeptical that this approach will take off with buyers in the US market.

As auto costs rise, will the US miss the golden age of electric vehicles?
Europe
The Guardian

Crypto and stock stakes: key takeaways from Trump’s financial disclosures

Trump made hundreds of millions from sales of souvenir-type coins stamped with his face, the documents reveal. Photograph: Jonathan Raa/NurPhoto/Rex/ShutterstockView image in fullscreenTrump made hundreds of millions from sales of souvenir-type coins stamped with his face, the documents reveal. Photograph: Jonathan Raa/NurPhoto/Rex/ShutterstockDonald TrumpCrypto and stock stakes: key takeaways from Trump’s financial disclosuresUS president raked in more than $1bn from crypto – an industry he has sought to deregulate – and a total of $2.2bn last year, files reveal Donald Trump’s money-making ventures enriched him by more than $2bn last year, according to newly released financial disclosures. The revenue was supercharged by the Trump family’s crypto projects, with the documents showing the US president made more than $1bn (£0.76bn) from crypto – an industry he has sought to deregulate. The US president now gets most of his income from digital assets that have benefited from his own policies. After returning to office, Trump reversed the Biden administration’s tough stance on the crypto industry with new rules, saying he wanted the US to be the “crypto capital of the world”. In short, he has been a serious player in a market where he is also a rule-maker. Trump took in nearly $1.2bn from his crypto businesses last year, the documents revealed, including hundreds of millions from sales of souvenir-type coins stamped with his face. Others who bought the Trump coins have seen significant losses as their value has plummeted after initial hyped sales. When accounting for everything – from investments to real estate to royalties to Trump own-brand cologne sales (yes, that is real) – the US president made at least $2.2bn in 2025. In comparison, in 2024 his enterprises pulled in $622m, before he returned to the presidency. Previous US presidents have made public efforts to show they would not personally profit from business during their time in office, including putting investments into blind trusts. For his second term, Trump has put his sons in charge of his business. There is no getting around it – Trump has a personal stake in hundreds of companies, from big tech in Silicon Valley to Papa John’s pizza, Netflix and Victoria’s Secret. One of the reasons Tuesday’s disclosure is so long, at 927 pages, is because the president has been actively buying stocks, and the US Office of Government Ethics names them all.

Crypto and stock stakes: key takeaways from Trump’s financial disclosures
Asia-Pacific
The Straits Times

Prabowo touts Batam as Indonesia’s next global maritime, investment gateway

Indonesian President Prabowo Subianto (centre) emphasised that Batam should serve as a national model for downstream industrialisation, investment acceleration, regulatory reform and logistics efficiency. JAKARTA – Indonesian President Prabowo Subianto has placed the island of Batam at the centre of the next phase of Indonesia’s economic transformation, positioning the island as a future global maritime, logistics and investment hub. During a meeting with the Batam Development Authority (BP Batam) on July 7, the President emphasised that Batam should become a national model for downstream industrialisation, investment acceleration, regulatory reform and logistics efficiency, supported by world-class infrastructure and faster public services. A key priority is the modernisation of Batam’s port system, including the development of an international port integrated with industrial estates, advanced manufacturing, a hyperscale data centre and global shipping networks. The strategy aims to strengthen Batam’s role in regional supply chains by reducing logistics costs, improving export competitiveness and reinforcing its position as one of South-east Asia’s most strategic production and distribution hubs. BP Batam highlighted that the region’s investment ecosystem had strengthened following the implementation of a government regulation: Investment services have become faster and more predictable, while the digital Land Management System is improving transparency, accountability and ease of access for investors. Investment momentum has remained strong, with Batam recording 69.3 trillion rupiah (S$5 billion) in realised investment in 2025, followed by 17.48 trillion rupiah in the first quarter of 2026, a year-on-year increase of 102.85 per cent. Investment continues to concentrate in high-value sectors including electronics and machinery, digital infrastructure, energy and industrial estates. The meeting also reinforced Batam’s pilot role in the country’s investment reform agenda. By combining digital public services, risk-based regulation, integrated infrastructure and interministerial coordination, the government aims to transform Batam into a globally competitive gateway for manufacturing, maritime logistics and strategic investment.

Prabowo touts Batam as Indonesia’s next global maritime, investment gateway
Europe
BBC Business

What Sky buying ITV could mean for your favourite shows

One of the biggest takeovers in British media history is about to take place with the creation of a new British media company - albeit American owned. Sky is expected to buy ITV's TV and streaming channels with the announcement likely imminent, but if you don't read the business pages, you might have missed it. The pay-TV, broadband and mobile company, owned by the American company Comcast, has been in talks to buy ITV's media and entertainment business including ITVX since last year. For Sky, buying the broadcast arm of Britain's most watched commercial public service broadcaster makes sense. It will get access to millions of people, as well as scale and prominence on a free to air platform. It's believed to want to create a commercial streamer that will be a true rival to the likes of Netflix and Disney Plus in the UK. But what does it mean for you? Crucially, this takeover won't mean your favourite ITV shows are suddenly moved behind a paywall. Caroline Frost, TV and podcast editor at Radio Times, says ITV is required by law to provide a free-to-air service until at least 2034 due to the public service broadcasting licence. "Gradually, though, content which might debut on free/live-to-air ITV might end up on a subscription platform," Frost says. In the short to medium-term, the big shows - Coronation Street, Love Island, Emmerdale, I'm a Celebrity - won't look any different. You'll still find them on ITV and ITVX, and they'll still be made by ITV Studios - that's ITV's production arm, which owns more than 60 production companies in Britain and around the world. They also make programmes including Line of Duty for the BBC, Rivals for Disney Plus, and America's most streamed show, Love Island USA. ITV Studios isn't being bought by Sky. If the deal goes ahead, it will become a company in its own right (ITV Studios PLC), still owned by the current ITV shareholders. Part of the Sky takeover agreement is expected to be a "supply deal", in other words, that ITV Studios continues to make those ITV shows and that they remain on ITV. Of course, at some point Sky could decommission some ITV shows - or renegotiate their contracts. You don't take over another company without believing there are savings to be made (and some are pointing to synergies that could be made on the tech platform side, with ITVX and Sky's streaming services potentially merged in the future).

What Sky buying ITV could mean for your favourite shows
Europe
The Guardian

Oil prices fall as US-Iran talks continue; UK manufacturing activity cools in June – business live

Up to 150 former WH Smith high street stores are to close after the high court approved a swingeing restructure that could affect thousands of jobs. The retailer, which has 450 stores and employs about 5,000 staff, was bought last year by the private equity firm Modella Capital, which also owns Hobbycraft, and rebranded as TG Jones. It had warned it could have to call in administrators if the restructuring plan, which involves writing off debts to suppliers and cutting rent for many landlords, was not approved. View image in fullscreenWH Smith's bookstall at Waterloo Station, Lambeth, London, 1960. Photograph: Heritage Images/Getty ImagesOn Wednesday Alex Willson, the chief executive of TG Jones, said: “We welcome the court’s approval of our restructuring plan. This decision allows us to move ahead with our turnaround strategy. The plan protects the substantial core of the store estate and makes TG Jones a stronger, more sustainable business. We are incredibly grateful to all the colleagues, partners and stakeholders who engaged constructively throughout the process, and to Modella Capital for its continued financial commitment. The high court judge Mr Justice Hildyard approved the restructure, despite criticising the short amount of time given for the court to consider the matter.

Oil prices fall as US-Iran talks continue; UK manufacturing activity cools in June – business live
Europe
The Guardian

Trump’s affordability crisis hits his supporters hardest as he calls housing bill of ‘minor importance’

People outside the Brooklyn office of Nicole Malliotakis, a House representative, to protest her decision to vote in favor of the big beautiful bill on 29 May 2025. Photograph: Erik McGregor/LightRocket/Getty ImagesView image in fullscreenPeople outside the Brooklyn office of Nicole Malliotakis, a House representative, to protest her decision to vote in favor of the big beautiful bill on 29 May 2025. Photograph: Erik McGregor/LightRocket/Getty ImagesUS economyAnalysisTrump’s affordability crisis hits his supporters hardest as he calls housing bill of ‘minor importance’Eduardo PorterA housing shortfall, record home costs and cuts to subsidies are intensifying the US affordability crunch Of the various dimensions of the affordability crisis weighing on US families, housing probably weighs heaviest. The typical home price has risen above five times the annual income of the typical family. The monthly cost of owning a home has hit record highs. The US faces a housing shortfall of millions of homes. But builders are not rushing to meet the shortfall. The supply of new homes declined over 14% in May, compared to May of 2025. Moody’s Analytics expects single-family and multifamily residential investment to contract every year between now and 2030. Dysfunctional though we know it to be, Congress finally stepped up to the challenge. In a bipartisan move, for the first time in 30 years it passed legislation that would accelerate homebuilding, relaxing environmental reviews and other federal regulations that stymie housing development. Then, Donald Trump said no. He wouldn’t sign the legislation until Congress passed a bill to limit mail-in voting and require voters to submit proof of citizenship, a brazen attempt to discourage minority voters and protect Republican majorities under the guise of defending US democracy from some false claims of voter fraud. The housing legislation is, by comparison, “of minor importance”, he said. Almost two years into the second Trump administration, it is evident that the president’s abiding objective has been to empower and enrich himself and his offspring; the greater good be damned. It is nonetheless surprising how every one of Trump’s policy initiatives has sabotaged some core constituency. It’s getting hard to find a bit of his base that he hasn’t torched. It seems as if, supremely confident in their blind loyalty, he is daring the Maga faithful to drop him. Launching a war against Iran before figuring out its objectives or how it might unfold, probably takes the cake: the surge in gas prices following Iran’s utterly predictable decision to close the strait of Hormuz dismantled one of the key claims that gave Trump the presidency: that he would slay inflation. Rising inflation means that real wages are now, on average, declining. Moody’s Mark Zandi estimates that by June the rising cost of energy had eaten up the higher refunds taxpayers got from Trump’s One Big Beautiful Bill Act of 2025. Iran is hardly his only effort to raise energy prices. The accelerated reduction of subsidies for solar power development in his One Big Beautiful Bill, added to his efforts to stop investment in wind farms, are driving up the prices of renewable energy, even as demand for power from AI datacenters soars. In case higher gas and power prices aren’t enough to piss Americans off, Trump has also raised their healthcare costs. Enrollment in health insurance policies under the Affordable Care Act could decline by five to six million this year, due to the abrupt ending of government subsidies that led to a 58% increase in premiums, on average. And Trump’s broad punitive policies against the salt of the earth – which also include cuts to food assistance and health insurance for the poor under Medicaid – were complemented with specific swipes against narrower constituencies. Take farmers, among Trump’s most loyal supporters. In 2024, he won 433 of the nation’s 444 farming-dependent counties. Still, his trade war against China contributed to a $17bn decline in exports to their main Asian market last year, while his hostility towards Canada led to a $1bn decline in farm exports to the US’s northern neighbor.

Trump’s affordability crisis hits his supporters hardest as he calls housing bill of ‘minor importance’
Europe
The Guardian

US labor board more likely to dismiss worker and union charges under Trump, analysis finds

Chicago Red Stars fans hold signs saying No More Side Hustles and Union Strong before a game between Portland Thorns FC and Chicago Red Stars at SeatGeek Stadium on 25 September 2021 in Bridgeview, Illinois. Photograph: Daniel Bartel/ISI Photos/Getty ImagesView image in fullscreenChicago Red Stars fans hold signs saying No More Side Hustles and Union Strong before a game between Portland Thorns FC and Chicago Red Stars at SeatGeek Stadium on 25 September 2021 in Bridgeview, Illinois. Photograph: Daniel Bartel/ISI Photos/Getty ImagesUS unionsUS labor board more likely to dismiss worker and union charges under Trump, analysis findsReport points to staffing shortages, procedural changes and lack of a board quorum as contributing factors Dismissals of unfair labor practice charges have surged at the National Labor Relations Board under Donald Trump, according to a new analysis. From January 2025 to 29 April 2026, the US top labor watchdog dismissed 34.7% of all unfair labor practice charges filed by labor unions, a 14.2% increase from 2024. The agency dismissed 67.4% of unfair labor practice charges filed by workers, 10.7% higher than 2024. The analysis of more than 40,000 cases conducted by the Center for American Progress cited several issues at the board since Trump began his second term in office. The National Labor Relations Board was left without a quorum required to issue decisions for 345 days after Trump fired Gwynne Wilcox, the first Black woman to ever serve on the board. Labor lawyers have noted unfair labor practice charge cases are being thrown out due to glitches or technicalities with the agency’s docketing system. Bloomberg reported in February 2026 that regional offices of the labor board are understaffed by 23%, but Congress has continued slashing the agency’s budget. Around 150 workers left the agency in 2025, and only eight workers were added, a loss of more than 10% of the agency’s workforce, leading to worsening backlogs of cases. Under Trump, union election filings declined 30% in 2025, as the Trump administration has sought to cancel collective bargaining agreements for more than 1 million federal workers. The shift in case dismissals at the labor board comes as the Trump-appointed general counsel of the NLRB, Crystal Carey, a former attorney at the union avoidance law firm Morgan Lewis, issued guidance in February 2026 emphasizing case resolution through settlements over litigation. The agency also enacted changes to case handling procedures in December 2025, with the analysis stating the new intake protocols make it easier for charges to be dismissed because they require a charging party to submit substantial evidence through supporting documents within two weeks of filing a charge. “Workers who are trying to organize unions already really face an uphill battle because employers, they really get away with a slap on the wrist, even when they do break the law. These increases in dismissals are a really worrying sign for organizers who depend on the NLRB to be able to enforce these laws,” said Aurelia Glass, policy analyst for the American Worker Project at the Center for American Progress and author of the analysis.

US labor board more likely to dismiss worker and union charges under Trump, analysis finds
North America
CNBC Finance

Lamborghini reveals new Urus performance hybrid SUV after ditching EVs

Lamborghini on Wednesday revealed a new hybrid performance model of its Urus SUV, as the Italian auto manufacturer continues to lean into gas-electric vehicles after abandoning plans for pure EVs. The Urus SE Performante features a more aggressive exterior design, including a larger grille and hood scoops, as well as interior improvements compared with current models of the SUV. Lamborghini is calling the new Urus SE Performante the "fastest Super SUV in the world," capable of reaching 0-100 kph, or roughly 0-60 mph, in 3.3 seconds and hitting a top speed of 312 kph, or 194 mph. The vehicle is a plug-in hybrid electric vehicle, which means it has a gas-powered engine as well as a plug to charge a battery pack for improved electric performance. It is powered by an electric motor and a 4-liter twin-turbo V-8 engine, delivering 812 horsepower and roughly 738 foot-pounds of torque, Lamborghini said. Lamborghini, which is owned by Volkswagen AG, said it would release pricing for the Urus SE Performante closer to the vehicle arriving for U.S. customers. The 2026 Urus SE starts at about $250,00 to $280,000, depending on the model. The Urus has been crucial to Lamborghini's success since its introduction nearly a decade ago. The vehicle represents about 50% of the brand's global sales annually, according to Winkelmann, with total Lamborghini sales nearing 11,000 vehicles last year. The reveal of the new performance PHEV comes months the company confirmed plans to scrap EVs to continue focusing on hybrid models. Winkelmann declined to comment on if Lamborghini would return to gas-only models, but said "never say never" when asked about such vehicles by CNBC. Lamborghini canceled its EV plans before rival Ferrari revealed its first all-electric vehicle, the Luce, in late May. The Luce was met with intense backlash. Winkelmann previously declined to comment directly on the Luce or the responses it has received, but said "innovation is paramount" to success. However, he said innovation should not be made for innovation's sake or forced upon customers. "By observing the market ... we saw that the acceptance curve [of EVs] for our type of customers is not increasing, and that therefore we decided to move away from a full-electric car into a plug-in hybrid," he said. 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.

Lamborghini reveals new Urus performance hybrid SUV after ditching EVs