Latest Developments

Europe
BBC Business

Texas family sues Tesla over fatal crash into home

Image source, ReutersImage caption, Elon Musk has repeatedly boasted of Tesla's self-driving capabilities. Jennifer Barbour filed her lawsuit in a local court on Tuesday, just days after her 76-year-old mother Martha Avila died from injuries she sustained after a Tesla Model 3 sped into their shared home. The Tesla driver told police that he was using the car's autonomous or "full self-driving" technology at the time of the crash. In the lawsuit Barbour accuses Elon Musk's electric vehicle company of defective design and negligence by promoting technology that is unsafe, while Musk on social media denied the technology was to blame. Musk took to X, the social media platform he owns, to refute the idea that Tesla's self-driving technology was to blame for the crash because it happened at a high speed. Tesla's vice president of AI software Ashok Elluswamy followed up on Musk's comment with more apparent detail on the accident. Elluswamy wrote that the driver was going at 73mph (117 km/h) and had overridden the car's self-driving mode "by pressing the accelerator all the way to 100%." He also claimed that the driver "had the accelerator pushed even after the crash". Barbour's complaint, filed with her husband Justin Barbour, puts forward a different explanation. It argues that the driver was operating his Tesla on "in a reasonably foreseeable manner" with full self-driving engaged when the car's technology "failed to detect the end of the street", went into "sudden unintended acceleration" and crashed into the Barbour residence. In addition to the death of her mother, Barbour claims her husband also suffered severe and grievous injuries as a result of the crash. Monetary damages being sought include those for anguish, injury and medical expenses, as well as "exemplary" damages because Tesla's actions have been "grossly negligent."

Texas family sues Tesla over fatal crash into home
Europe
BBC Business

Baroness Mone among individuals sued to recover PPE Medpro millions

Baroness Michelle Mone and her husband Doug Barrowman are among individuals being sued in an attempt to recover some of the millions owed to the government by his collapsed company, PPE Medpro, the BBC understands. The government was awarded £122m plus interest from PPE Medpro last year, after a court ruled the firm had breached a contract to supply sterile surgical gowns during the pandemic. The joint liquidators from the firm Interpath Advisory have launched a case against six individuals and five companies linked with the firm, after PPE Medpro was put into liquidation. PPE Medpro was set up in 2020 during the Covid-19 pandemic as the government struggled to secure supplies of protective equipment to protect health workers during the acutest phase of the outbreak. It won its first government contract to supply masks through a so-called 'VIP lane', after a recommendation by Baroness Mone, who sat in the House of Lords as a Conservative peer. However by the end of 2022, the government sued the firm, claiming the medical gowns supplied did not comply with relevant healthcare standards. Last year the High Court found in the government's favour, ruling that PPE Medpro had failed to prove whether or not its surgical gowns, which were to be used by NHS workers, had undergone a validated sterilisation process. While the government had won its case, it wasn't immediately clear how it would get its money back. The company itself had less than £1m on its balance sheet, and was put into liquidation in December 2025. But the Health Secretary at the time, Wes Streeting, accused PPE Medpro of putting "NHS staff and patients in danger with substandard kit whilst lining their own pockets with taxpayers' money at a time of national crisis." He pledged to pursue the company with "everything we've got" to recover the money. Barrowman and Mone were not directors of PPE Medpro - and for a long time they denied any connection with the firm. However in 2023 Barrowman confirmed in a BBC interview that he was the ultimate beneficial owner of the company.

Baroness Mone among individuals sued to recover PPE Medpro millions
Asia-Pacific
The Straits Times

Malaysian ringgit expected to weaken further against Singdollar in 2026

The ringgit has weakened by 0.2 per cent against the Singdollar so far in 2026 after strengthening by 4 per cent in 2025. SINGAPORE – Yaw Poh Ling, an administrative worker based in Singapore, sends money to her ageing parents in Malaysia every month. But as the exchange rate between the Singapore dollar and the Malaysian ringgit has become more volatile, she has become more strategic about when she makes her transfers. “I always check the exchange rate on my CIMB Bank app before making a transfer,” said the 52-year-old. When the exchange rate is more favourable, she exchanges a larger amount of Singapore dollars for the Malaysian currency before transferring, so that it can last her parents several months. “If the rate is too low, I will continue to monitor it and wait for a better rate. But if I urgently need Malaysian ringgit, then I have no choice but to still exchange the money,” she added. Yaw and her parents could enjoy more ringgit in the second half of 2026, with the currency expected to weaken further against the Singapore dollar, analysts said. The ringgit has weakened by 0.2 per cent against the Singdollar so far in 2026 after strengthening by 4 per cent in 2025. It was trading at 3.17 ringgit per Singdollar on June 26, close to its six-month low of 3.21 recorded on June 22. The volatility comes as Bank Negara Malaysia said on June 24 that it would step up measures to support the ringgit, including encouraging companies to bring home and convert more of their overseas earnings into the local currency amid expectations of a stronger US dollar. The central bank added that the ringgit’s recent weakness is mainly due to global factors, and not problems with the country’s economy. “While geopolitical uncertainties have partially eased following an interim peace deal signed by the US and Iran, global financial markets have remained focused on the prospects of higher policy rates in the US amid elevated inflation risks,” said Bank Negara Malaysia’s Financial Markets Committee. It added that foreign investors have adopted a wait-and-see stance towards Malaysian assets ahead of the upcoming state elections in Johor and Negeri Sembilan, which has contributed to the currency’s pullback in June. OCBC Bank foreign exchange strategist Christopher Wong said Bank Negara Malaysia’s latest measures could provide some support to the ringgit.

Malaysian ringgit expected to weaken further against Singdollar in 2026
North America
CNBC Finance

SNAP restrictions could change what shoppers buy — and food giants are watching

The growing push to restrict Americans from using federal food aid to buy certain processed or sugary products is creating a new challenge for some of the biggest U.S. food and beverage companies. The U.S. Department of Agriculture as of May had approved food restriction waivers for Supplemental Nutrition Assistance Program benefits in 23 states, affecting roughly one-third of all SNAP participants, according to Numerator. The research firm estimates the restrictions could reduce food and beverage sales by as much as $830 million this year as consumers either shift spending to approved products or cut back overall. Kroger CEO Greg Foran said on the company's first-quarter earnings call on Thursday that customers remain under pressure in part due to reduced SNAP benefits, as well as higher gas prices, "squeezing budgets." "Customers are managing spend carefully and shopping with real intent," Foran said. Most waivers focus on limiting consumption of sugar-sweetened beverages and confectionery products, signaling a targeted approach rather than broad food restrictions. As the movement spreads, it's forcing major packaged food companies to monitor shopper behavior and assess whether they need to remake product lines — though many of them have already been changing what they offer after consumer habits shifted in recent years. Iowa recently became the first state to codify elements of the "Make America Healthy Again," or MAHA, movement into law, approving legislation that targets artificial food dyes, ultra-processed foods in school and purchases made through SNAP. "Altogether, this bill advances the health and wellness for every Iowan today and for generations to come," said Iowa Gov. Kim Reynolds when she signed the measure last month. She added the law helps "refocus federal food assistance programs on the actual purpose for which they were created: helping low-income families afford nutritious food." The law bans several synthetic dyes, including Red 40 and Yellow 5, from most K-12 school meals and vending machines, while also restricting SNAP recipients from using benefits to buy products such as soda and candy. At a Goldman Sachs conference in May, Hershey said it has researchers in Texas conducting in-store interviews with shoppers who receive SNAP benefits to understand how purchasing behavior is shifting under new restrictions in the state. "We've observed some consumer uncertainty at the register as new restrictions take effect," a Hershey spokesperson told CNBC. "We anticipate this will improve as store execution improves, rules become clearer, and SNAP users can plan and budget with more certainty." The company is studying everything from product substitutions to budget tradeoffs, offering an early glimpse into how major food manufacturers are preparing for a potentially significant shift in consumer demand.

SNAP restrictions could change what shoppers buy — and food giants are watching
Asia
The Hindu BusinessLine

General Dhiraj Seth charts Army’s future with ‘VIJAY’ framework

General Dhiraj Seth, on his first day as the 31st Chief of Army Staff, vowed to make the Indian Army into a technology-enabled” and “future-ready” fighting force fully empowered and capable of operating across multiple domains. In a profound sign of affection, General Seth saluted and touched the feet of his father, Lieutenant General KM Seth (retired), and mother, after receiving a guard of honour as the Chief of Army Staff on the lawns of South Block on Wednesday. He also exchanged salutes and shook hands with his younger brother Rear Admiral Ravnish Seth. He described his central command strategy through acronym ‘VIJAY’ (victory), with each letter reflecting his priorities to navigate the complex security scenario. According to him, ‘V’ stands for Vigilance. “We will maintain constant vigilance along our borders and against emerging threats. We will also ensure a high level of operational readiness to respond effectively to any challenge to national security,” he said. Similarly, ‘I’ stands for Innovation and Transformation. “My focus will be on innovation in both doctrine and technological solutions. Innovation will remain an integral part of our thinking, our systems and our capability development. At the same time, necessary transformations will be undertaken in keeping with the changing character of warfare,” he elaborated. ‘J’ stands for Jointness and Integration. “To enhance the operational effectiveness of the Indian Army, we will maintain complete synergy and coordination with the Indian Air Force and the Indian Navy. I fully recognise that national security is not limited to military strength alone. It requires military-civil fusion and a Whole-of-Nation approach,” he stated. This integrated approach will also enable us to contribute meaningfully to nation building and to the goal of Viksit Bharat 2047, as per him. ‘A’ stands for Atmanirbharta. With indigenous capabilities and technologies developed within the country, we must build a self-reliant Army. The overall aim will be: “To Win Our Wars with Indigenous Solutions,” the General noted. ‘Y’ stands for Yodha First. “In my understanding, from the Agniveer to the senior-most veteran, each one is a yodha. These yodhas are the greatest strength of our Army. Enhancing the technological threshold and training standards of our soldiers will be among my foremost priorities,” he stressed. He concluded by insisting that he firmly believes that the mantra of ‘JAI’, given by the Prime Minister for the armed forces, forms the foundation of his priorities under the acronym ‘VIJAY’, guiding us towards success. The new chief will have a new set of commanders to assist him. Lt General Sandeep Jain, assumed the appointment of the Vice Chief of the Army Staff (VCOAS), while Lt General Rajesh Pushkar took over as the General Officer Commanding-in-Chief, Southern Command. And, Lieutenant General Mohit Malhotra was appointment as General Officer Commanding-in-Chief of the South Western Command. 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.

General Dhiraj Seth charts Army’s future with ‘VIJAY’ framework
Asia
The Hindu BusinessLine

Monsoon readies to enter Delhi as IMD confirms watch for first ‘low’

Outlook for Thursday suggested heavy rain to continue over Central India; the west coast; and along the Himalayan foothills even as the monsoon approached the National Capital Region in Delhi. | Photo Credit: www.meteoblue.com The India Meteorological Department (IMD) on Wednesday confirmed the likely formation of a low-pressure area over the north-west Bay of Bengal by Friday, setting the stage for a fresh advance of monsoon into remaining parts of North-West and Central India accompanied with a vigorous rain spell. The IMD said conditions are favourable for the monsoon to advance into more parts of Gujarat; Madhya Pradesh; Uttar Pradesh; Haryana-Chandigarh-Delhi; Punjab; and parts of Rajasthan. The northern limit on Wednesday passed through Porbandar and Vallabh Vidyanagar in Gujarat; Shajapur in Madhya Pradesh; Naugaon, Mirzapur, Azamgarh, Ayodhya, Budaun and Meerut in Uttar Pradesh; Karnal in Haryana; and Gurdaspur in Punjab. A prevailing cyclonic circulation over the north Bay is expected to intensify into the season’s first low-pressure area by Friday, providing the trigger for renewed rain activity. The monsoon trough over land already stretched from Punjab to the north Bay and is well placed to channel moisture deep into North-West India. The offshore trough along the west coast, another key monsoon feature has reappeared, extending from south Gujarat to Karnataka. It draws moisture from the Arabian Sea and lifts it over the Western Ghats to rain it down heavy along the west coast. A well-developed offshore trough is a hallmark of an active monsoon. The Bay and Arabian Sea branches of monsoon are now working in tandem to push seasonal rains towards western Rajasthan and complete coverage over entire country. Strong currents also generated cyclonic circulations over Uttar Pradesh and north Chhattisgarh, strengthening rainfall over Central and North-West India. A trough linking the Bay circulation to north-east Arabian Sea across south West Bengal; Odisha; Chhattisgarh; north Maharashtra; and Gujarat triggered widespread heavy to very heavy rainfall over the region. Supported by these favourable conditions, the monsoon on Wednesday advanced further into Gujarat; all of Daman and Diu; more parts of Madhya Pradesh and Uttar Pradesh; remaining parts of Uttarakhand; Himachal Pradesh and Ladakh; the whole of Jammu and Kashmir; and parts of Haryana and Punjab. The 24 hours ending in the morning saw extremely heavy rainfall at isolated places over eastern Gujarat; Konkan and Goa; and coastal Karnataka. Heavy to very heavy rainfall also occurred at a few places over Konkan and Goa; and at isolated locations over West Bengal; Odisha; eastern Gujarat and Coastal Karnataka. 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.

Monsoon readies to enter Delhi as IMD confirms watch for first ‘low’
Europe
BBC Business

Ten years on, Brexit's economic impact is becoming clearer

ByFaisal IslamEconomics editorNot long after the UK left the EU in 2020, a Bristol-based firm called Eskimo started selling a new kind of high-fashion and energy-efficient electric radiator, based on new technology developed by academics in the city. It was a timely product given Europe's green ambitions, and with orders flowing, its Birmingham factory was being kept busy. The boss Phil Ward tells me his start-up has continued to grow, but that in his view it could have been so much more without what he calls "the Long Brexit effect": in 2020, 40% of his exports went to the European Union, and by 2025 it was just 5%. The post-Brexit deal agreed with the EU by then-Prime Minister Boris Johnson in December 2020 guaranteed zero tariffs on exports to the EU, but Ward says that despite this, red tape and paperwork not directly related to tariffs were enough to create delays, costs and the expectation of hassle for prospective customers. Eskimo did manage to export some goods to agents in France but it stopped selling directly to European consumers entirely. A planned expansion to Germany floundered. And as Eskimo discovered when it attempted to export towel rails to Australia and New Zealand, both countries abide by international safety standards that are heavily influenced by the EU's CE mark. This matters because one theoretical potential Brexit benefit was that it would allow UK regulators to not follow the EU's safety regulations and take a more pro-innovation, less regulatory approach for high-tech inventions. Eskimo's experience is one example of a broader trend reflected in export figures. The UK Trade Policy Observatory at Sussex University calculated a rapid 26% reduction in the different types of UK exports by 2023, while a new study from Aston University Business School using five years of more detailed trade data concludes a loss of 53.8% of the type of exports and 31.5% for imports. These figures for "trade varieties" are falls in the number of products sent to different EU countries. A decade ago, many economists argued the UK would sustain longer-term economic damage by leaving the EU and many believe that damage has come to pass. But to make that call you have to compare what did happen with what might otherwise have happened were it not for Brexit and doing that is a matter of method and statistical judgement. And that judgement has to account for the fact that the period since Brexit has been a time of huge global flux. The pandemic that struck in the spring of 2020, the war in Ukraine that began two years later and, more recently, the energy price shock sparked by the conflict in Iran all have to be accounted for.

Ten years on, Brexit's economic impact is becoming clearer
Europe
BBC Business

The economic challenges facing the next prime minister

Image source, Getty ImagesByDharshini DavidDeputy economics editorPublished4 hours agoWe've had six prime ministers in a decade and it looks increasingly likely that Andy Burnham will be the seventh. But whoever is in charge, they face the same challenges. That's because what has underpinned political instability over recent years has been, to a great extent, the economy. Lack of job opportunities, lack of improvement in living standards, and pressured public services – the public expects change and its patience has been wearing thin. Burnham has pledged to revive the economy but also stick to the current government's own rules on borrowing and spending. That means only borrowing to invest, not to fund day to day spending, and in a few years' time reducing debt as proportion of the whole economy. Before the US-Israel war with Iran started, Chancellor Rachel Reeves reckoned she could meet her financial rules with £24bn to spare. But much of that could have been eroded because of the conflict. Burnham's pledge to stick to the current government's rules shows he is wary of upsetting the bond markets, the government's lenders, at a time when just the interest repayments on our national debt account for one in every £10 the government spends. Even the plans Burnham has hinted at so far could easily exceed the available wiggle room. His ambitions may be thwarted and some ideas may not survive contact with financial reality. He could tweak those rules. For example, bond markets could be sympathetic towards borrowing to fund more investment if they were convinced that would pay off in the terms of higher growth. Or he could simply look to raise the money from elsewhere to fund priorities, including through taxes – or cutting from other areas. Growth, putting more money in pockets, will have to remain the government's number one priority. Between 1990 and 2007, the average person was better off by roughly 2.5% per year.

The economic challenges facing the next prime minister
Europe
BBC Business

Council tax debt rises to £9bn but here's how you can get help

Image source, Getty ImagesByKevin PeacheyCost of living correspondentPublished1 hour agoMore than £9bn is owed to councils in unpaid council tax as people continue to struggle with their finances - but some help is going unclaimed. Newly-published data shows that uncollected council tax had risen to £7.4bn in England by the end of March. Data published separately in Scotland and Wales further pushes up the total. Charities say the latest numbers point to a council tax affordability crisis, with a wider group of people struggling to cover essential bills. Although non-payment of council tax can lead to a prison sentence in extreme cases, there are various discounts and support measures in place of which people are often unaware. The latest government data shows that £2.2bn of council tax levied in England during the financial year to the end of March went unpaid. However, £43bn of what was levied during the year was collected, marking a collection rate of 95.6%, according to the Ministry of Housing, Communities and Local Government, external. Vikki Brownridge, chief executive of debt charity StepChange, said: "Our advisors know all too well just how deep the council tax affordability crisis runs. "With one in three of those coming to StepChange behind on this bill, these latest figures are no surprise to us and point to a system that perpetuates debt with little to no constructive route out." Charities are urging anyone struggling to check whether they are eligible for council tax discounts and support. Help to pay for those on low incomes through Council Tax Support, external, but this too crucially requires making an application. The system is different in Northern Ireland where you may claim housing benefit Charities, such as the National Debtline, say local authorities need more funding to provide support which varies significantly. They have also long campaigned for councils to stop the use of bailiffs and threats of court action and prison, arguing that it stops people seeking help for non-payment.

Council tax debt rises to £9bn but here's how you can get help