North America
CNBC Finance

Italian coffee giant Lavazza launches single-serve tablets to make espresso in the U.S.

Lavazza is bringing its espresso tablets to the U.S., aiming to loosen Keurig Dr Pepper's grip on the single-serve coffee category. The Italian coffee giant unveiled Tablì last year and launched the new brewing system first in Italy. The tablets, made of compressed ground coffee without a coating, binder or gelatin, can only be used with a Tablì coffee machine made by Lavazza. Each tablet is marked with the words "100% coffee. At launch, the tabs will come in five varieties: espresso, double espresso, decaf espresso, super crema and lungo, or a "long shot" espresso brewed with more water. "The result that we've been able to achieve was through a very complicated industrial process in order to be able to have [the coffee tablet] very compact, to be able to deliver it without destroying it, to have it able to work in a coffee machine," Lavazza CEO Antonio Baravalle told CNBC. Tablì is the result of Lavazza's acquisition of the Italian startup Caffemotive in 2020. The new system took five years of development, more than 15 patents and a new production facility in Gattinara, Italy, to bring it to market. Its launch in the U.S. comes as the country becomes an increasingly important part of Lavazza's business. In 2025, the company's North American turnover — or revenue — jumped 26.9%, according to Lavazza. "We are strongly investing in the USA because we think it is an important space for us," Baravalle said, adding that Lavazza aims to eventually have a €1 billion ($1.15 billion) business in the U.S. "The brand is growing, in terms of equity, extremely well," Baravalle said. "We've spent a lot of money, for us, in the last two years, and we're going to do that for the next five years." More than 130 years after its founding, the Lavazza family still privately owns the Italian company. In 2025, it reported net profit of €92 million on net revenues of €3.9 billion, according to Lavazza's latest annual report. In the U.S., it generates more than $100 million in annual dollar sales through retailers like Target and Walmart. For context, Keurig reported annual net sales of $3.99 billion for its U.S. coffee segment in 2025. The majority of Keurig's coffee revenue comes from its K-cups. In the U.S., Keurig has dominated the single-serve coffee market for more than a decade, although Nestle's Nespresso has won over customers in recent years. Keurig holds about half of the total U.S. market share for fresh ground coffee pods, according to data from Euromonitor International. Nespresso holds a roughly 7% share. Of course, Lavazza sells K-cup pods in the U.S. through a partnership with Keurig. "For us, it's important to find our own space, but we are talking about two giants, and one of them, we have an important contract with that we are very happy [with]," he said.

Italian coffee giant Lavazza launches single-serve tablets to make espresso in the U.S.
Asia
The Hindu BusinessLine

Bay system may open two-week rain window across Central India

Both the Arabian Sea and the Bay of Bengal are helping breed active thunderstorms (in red and blood red) over the South Peninsula and eastern parts of Central India ahead of revival of monsoon next week. | Photo Credit: www.meteologix.com/in The monsoon is poised for a fresh advance next week, with the India Meteorological Department (IMD) indicating favourable conditions for its further progression into parts of Maharashtra, Telangana, Odisha, Jharkhand, Bihar and Chhattisgarh around Tuesday next. The expected revival is likely to be driven by development of a cyclonic circulation over the north-west Bay of Bengal off the Odisha-West Bengal coast. While some global weather models project its evolution into a low-pressure area, IMD’s guidance remains more conservative, suggesting only a weak circulation at this stage. Even so, model consensus points to strengthening monsoon flows from the Bay into Central India. A leading US model tracks the system westward from Odisha and West Bengal across Chhattisgarh and Madhya Pradesh towards Konkan, Mumbai and South Gujarat, a path that is also supported by projected rainfall patterns. IMD’s numerical guidance shows moisture-laden easterlies turning inland from the Bay and feeding into Central India, although it does not yet conclusively support the formation of a well-defined low-pressure area. The agency, however, has not ruled out the possibility of a weak ‘low’ developing towards the end of June. Adding to the signal, the Climate Prediction Center of the US National Weather Service indicates the potential emergence of another circulation over the same region around July 1. Together, the forecasts suggest a favourable two-week period for monsoon activity over Central India. Ahead of the revival, isolated to scattered rainfall is forecast over Chhattisgarh, East Madhya Pradesh, Vidarbha and West Madhya Pradesh for six days beginning Saturday. Along the west coast, rainfall activity is expected to strengthen from Monday, with fairly widespread to widespread rain over Konkan and Goa, including Mumbai, for four days. Elsewhere, isolated to scattered showers are likely over Saurashtra and Kutch for two days; and over East Gujarat, Madhya Maharashtra and Marathwada during next six days. In the south, fairly widespread to widespread rainfall is forecast over Kerala, Mahe and Lakshadweep from Saturday, extending to Coastal Karnataka from Sunday. Rainfall will also increase intermittently over Interior Karnataka and parts of Andhra Pradesh later in the week .Heavy rainfall is likely over Tamil Nadu, Puducherry and Karaikal this weekend; Kerala and Mahe for three days; Lakshadweep on Sunday; Coastal Karnataka for five days from Sunday; and Interior Karnataka on Monday and Tuesday. 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.

Bay system may open two-week rain window across Central India
Asia
The Hindu BusinessLine

Reliance Jio enters satcom battleground with sovereign LEO constellation

Reliance Jio announced plans to develop sovereign Low Earth Orbit satellite constellation for India during its annual general meeting. Stating that Jio has connected India on the ground, Akash Ambani, Chairman of Reliance Jio Infocomm (Jio) stated that the company is developing its own satellite constellations while simultaneously leasing satellite capacity to global satcom providers. “Jio is evaluating the development of a sovereign Low Earth Orbit satellite constellation for India. We are also partnering with the leading global constellation providers by leasing satellite capacity, so that we can accelerate service availability while building our own long-term sovereign capability,” said Ambani, adding that the dual approach will enable Jio to meet India’s connectivity needs faster, while laying the foundation for the Indian satellite broadband platform of global scale. To this end, Jio is also building its own ground station infrastructure in India that will support its own future satellites as well as partner constellations, “creating an end-to-end satellite broadband ecosystem from space to ground. “With this initiative, Jio is strengthening India’s atma nirbharta in space, placing India firmly on the global satellite broadband services map,” said Ambani. Satellite communication has been an anticipated technology with its primary customer centered in the hinterlands of the country, navy, and other segments where fibre cannot ensure effective connectivity. 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.

Reliance Jio enters satcom battleground with sovereign LEO constellation
Europe
BBC Business

Why the economics make this the craziest World Cup ever

Football World Cups are rarely completely politics-free but never has the beautiful game navigated a geopolitical high-wire act of this kind. The main host is at war with a participant, whose team must commute in on match days from another country. Add to that the quite astonishing coincidence of the US, Canada and Mexico, the three co-hosts of the 2026 World Cup, being in the midst of an epic trade war. Indeed, in the period in between the opening ceremony at the Estadio Azteca, and the final in New Jersey's MetLife Stadium, the three will be renegotiating the USMCA, the North American free trade area. Donald Trump is extremely focused on the tournament, its sponsors and the impact from his return to the White House last year. The US president has even joked that his loss to Joe Biden in the 2020 election had the great benefit of allowing him to return for this World Cup, and the Los Angeles Olympics in 2028. After renewed hostilities between Tehran and Tel Aviv, Trump was rather direct in calling for an end to attacks. And as the minutes ticked down towards the tournament's kick off on Thursday night, he appeared to call off new air strikes and seemingly promised that a deal to end the war was close at hand. Earlier in the day he had vowed to hit Iran "very hard". As ever with Trump, much can change very quickly. He has already controversially accepted a Peace Prize from FIFA, before initiating the war with Iran that has led to a significant global energy and economic shock. There is even a chance the US and Iran could play each other in the knockout stage on the weekend of the US' 250th independence celebrations. Gianni Infantino, president of FIFA, has previously called for ceasefires during World Cups. If the World Cup helps quicken the pace of moves to de-escalate, there could be a material impact on energy prices, supplies and the world economy. Whether the World Cup can actually influence the world's major economic conflict, who knows. But make no mistake - there is another part of the economic jigsaw that is happening right in front of the eyes of football fans worldwide. It's a complete shakedown of football's economics and also one of the most visible examples of how some of the world's major economies increasingly operate. "Football is nothing without the fans," the legendary late former Scotland World Cup manager Jock Stein once said. Some fans however at the globe's biggest party will have paid previously unheard-of amounts for what may turn out to be dead rubber games, while forking out roughly the normal ticket price just for the commuter train to get to the stadium. Witness the New Jersey Transit train ticket - normally $12.90 return, but $100 for the tournament. The fans are being squeezed like never before because this is a very different tournament economic model to what has gone before. For a start, it is largely taking place in borrowed American football stadiums (a quarter of the games are in Canada and Mexico), with the US oval ball sport leaving its mark, perhaps indelibly. This tournament turns the beautiful game into the bountiful game, for organisers FIFA. This could be the most impactful World Cup ever in economic terms, but not for the conventional reason of driving economic activity among the host nations or sparking feel-good spending among those back home in countries that enjoy a good run. Instead, it is a case study of what is known as the K-shaped economy within the world's traditional advanced economies - where different groups within society experience very different financial outcomes - which when plotted on a graph show one line going diagonally upwards (as on the letter K) and another diagonally downwards (again as on the letter K). And it is based on a type of attempted economic revolution in the pricing mechanism that clearly does value a certain type of fan more - those on the diagonally upwards line of that graph. It's important to say FIFA has a very different view of things and stresses those bountiful ticket revenues will be redistributed Robin Hood-style to develop football in the world's poorest nations.

Why the economics make this the craziest World Cup ever
Europe
BBC Business

'I was employee number one': SpaceX co-founder reacts to firm's market debut

Tom Mueller was the first employee at SpaceX, a company he co-founded with Elon Musk in 2002. Now, more than two decades later, the company is about to make its public market debut, with an estimated worth of more than $1.8 trillion. Peruvian police officers disguised themselves as 2026 World Cup mascots to break into the home of a suspected drug dealer - and football fan. Football fans gathered at a FIFA World Cup watch party at Niagara Falls for the Canadian and USA teams' opening matches. All three leaders of the North America host nations have missed the tournament opening matches. The BBC spoke to US fans at the Fifa Fan Festival in Los Angeles ahead of the team's match against Paraguay. The former footballer was joined by his wife Victoria Beckham and their children, as well as actor Tom Cruise. Bosnia-Herzegovina fans attending the team's game in Toronto, Canada spoke to the BBC about how costly their trip and seats were. Severe weather has torn through the midwest, destroying homes, disrupting flights, and knocking out power for thousands across the region. Translink apologised, saying "it was prioritising keeping staff, passengers, and the wider public safe". The clip subsequently went viral, something co-headteacher Paul Bailey says took them by surprise. The eyewitness footage shows bright orbs in the sky over an undisclosed location in the northeastern US.

'I was employee number one': SpaceX co-founder reacts to firm's market debut
North America
Yahoo Finance

Aktsiaselts Infortar own share acquisition transactions

Aktsiaselts Infortar acquired its own shares on the Nasdaq Tallinn StTemplate Manager ock Exchange during the period of 1 June – 5 June 2026 as follows: DateAggregated volume (pcs)Weighted average price per day (EUR)01.06.202627648,113802.06.202628148,533103.06.202625448,400004.06.202625148,487305.06.202625448,6382 Aktsiaselts Infortar is acquiring its own shares based on the stock exchange announcement published on 20 April 2026. The share buyback programme is managed by SEB Pank AS, which will

Aktsiaselts Infortar own share acquisition transactions
North America
CNBC Finance

Airlines find the grass isn't always greener with new engines

RIO DE JANEIRO — Airplane engine makers have fallen short of what they promised airlines, major carriers' CEOs say, a problem vexing an industry that has struggled for years with aircraft shortages and more recently, a doubling of fuel prices. It's a paradox: Engine makers dazzled carriers with more fuel-efficient options for new planes from Boeing and Airbus. But production shortfalls and disappointing reliability with those engines are becoming costly problems, CEOs said in interviews at the industry's largest annual gathering here. Airline executives said they're being forced to remove engines and take them for maintenance into crowded shops earlier than expected, which is driving up costs and sucking up the fuel savings they were supposed to get from the engines. Airline leaders told CNBC this week that travel demand is still strong despite higher fares, so having aircraft on the ground means money left on the table, just as a $100 billion higher fuel bill this year is slashing airline profit prospects. Alexis von Hoensbroech, CEO of Canada's WestJet, told CNBC in an interview ahead of the more than 370-airline International Air Transport Association's annual assembly that the new engines promising fuel savings of around 15% or more compared with earlier models were "engineering marvels." "However, as you push the limits, it sometimes comes at the cost of reliability, and what we all are seeing is that those engines have to go into unscheduled maintenance far more frequently than prior engine generations," he said. Newer models of aircraft engines burn hotter, allowing them to use less fuel. That's key since fuel is airlines' biggest cost after labor. But that can also mean they wear out faster, which can ground planes, though carriers keep some spare engines. Von Hoensbroech and other airline executives told CNBC that the new the engines have not reached the reliability that airlines need, through there have been improvements. "That's a big struggle, because it adds a lot of costs," he said. "So a lot of the fuel savings are in fact eaten up by unplanned maintenance costs." Manufacturers have invested heavily in expanding engine overhaul and other maintenance capabilities, while third-party shops have also seen a windfall. New engines are costly, but aircraft production is still behind schedule, and that's keeping older engine values up, too. For example, a CFM56 engine made by GE Aerospace and its French partner Safran that powers older Boeing 737s was going for $9.2 million at the start of the year, up 17% since 2019, according to IBA Group. A Pratt & Whitney PW1127 for newer Airbus narrow-body planes was up more than 57% over that time, according to the aviation intelligence and advisory company.

Airlines find the grass isn't always greener with new engines
Europe
The Guardian

SpaceX heads for record $1.78tn float amid fears it is overvalued

Space Exploration Technologies’ site in Hawthorne, California. The IPO is oversubscribed by three or four times. Photograph: Patrick T Fallon/AFP/GettyView image in fullscreenSpace Exploration Technologies’ site in Hawthorne, California. The IPO is oversubscribed by three or four times. Photograph: Patrick T Fallon/AFP/GettySpaceXSpaceX heads for record $1.78tn float amid fears it is overvaluedAnalysts say IPO that could make Elon Musk the world’s first trillionaire has a ‘major disconnect’ on price Elon Musk’s SpaceX is set to launch the biggest stock market float in history amid warnings that it may be overvalued. The space exploration, satellite broadband and AI company will join the US stock market on Friday at a valuation of $1.78tn, after offering at least $75bn of shares to investors through an initial public offering. The offering is oversubscribed by three or four times, according to Reuters, with more than $250bn of bids from investors keen to take part in the IPO. The $75bn share offer is nearly three times the previous record, Saudi Aramco’s $29.4bn offer when it floated in 2019. If the float goes as planned, Musk could make history as the world’s first trillionaire. However, the investment research group Morningstar has calculated that SpaceX is worth only $63 a share – well below the anticipated IPO price of $135 – and warns there is “a major disconnect between market expectations and underlying fundamentals”. Michael Field, the chief equity strategist at Morningstar, suggests investors should sit out the IPO and wait for “a more attractive entry point down the line”. “We believe the business has real strengths, particularly in Starlink, but with so many unknown and untested technologies underpinning much of the valuation price, particularly within the AI business, we think the valuation is extremely speculative,” Field said. SpaceX, which made a net loss of $4.9bn in 2025, is made up of three businesses: space exploration, including its Falcon and Starship rockets; connectivity, such as its Starlink satellite constellation providing high-speed internet access; and artificial intelligence, though its xAI division. At $1.78tn, the IPO values SpaceX at roughly 92 times its trailing sales, a very hefty valuation which means investors are wagering that Musk can achieve his ambitious goals for the company – such as orbital datacentres in space, building a base on the moon and cities on other planets, and to “extend the light of consciousness to the stars”. SpaceX has claimed that Starlink has a total addressable market of $1.6tn; Morningstar estimates the segment’s realistic global opportunity at about $129bn. Earlier this week, the US senator Elizabeth Warren called for the Securities and Exchange Commission to delay SpaceX’s IPO, owing to concerns about the company’s valuation and corporate governance.

SpaceX heads for record $1.78tn float amid fears it is overvalued
Europe
The Guardian

AI wealth boom sending San Francisco home prices surging: ‘It’s ridiculous’

The ‘painted ladies’ in San Francisco on 20 August 2024. Photograph: Ethan Swope/Getty ImagesView image in fullscreenThe ‘painted ladies’ in San Francisco on 20 August 2024. Photograph: Ethan Swope/Getty ImagesSan FranciscoAI wealth boom sending San Francisco home prices surging: ‘It’s ridiculous’Employees at artificial intelligence companies are coming into gargantuan sums of money amid boom in IPOs Home prices in the San Francisco Bay Area’s already expensive market are skyrocketing as employees at leading artificial intelligence companies come into gargantuan sums of money thanks to a boom in initial public offerings. With San Francisco’s OpenAI and Anthropic, as well as SpaceX, which operates a major facility in the Los Angeles area, eyeing debuts on the stock market, the hot housing market may not abate soon. If their initial public offering (IPO) is well-received, the companies’ multibillion-dollar valuations are poised to produce massive wealth for employees and executives holding shares, which experts say could trigger an uptick in demand for the Bay Area’s limited housing stock. As of March 2026, the median home sale price in San Francisco was more than $2m, according to a report from real estate brokerage Compass, an 18% increase from the previous year. That same month, on average, a house spent 29 days on the market before being sold, the fastest sale rate observed since spring 2022, per the report. And experts say demand is likely to further increase, while supply remains low. “My joke is that you have to show up to whatever the open house is. Be there a half-hour early. Have a bag of cash with you. Be willing to pay. It’s ridiculous,” said Quintin Mecke, executive director of the Council of Community Housing Organizations, a coalition dedicated to affordable housing. The recent flush of capital in the metropolitan area can probably be traced to tender offers – employees given the opportunity to sell their equity – at major AI companies. More than 600 employees at OpenAI, the company behind ChatGPT, cashed out last fall on shares that collectively totalled $6.6bn, the Wall Street Journal reported in May. Of that group, roughly 75 people pocketed $30m each. View image in fullscreenOpenAI CEO Sam Altman’s house in Russian Hill after a suspected molotov cocktail attack in San Francisco, on 13 April. Photograph: Anadolu/Getty Images“If somebody’s thinking about it wisely, they’ll be thinking: ‘Well, I have this large sum of money coming my way. What is a large purchase that I may need to acquire at some point?’ And the home is on that very short list,” said Drew Wilkerson, a real estate adviser with Sotheby’s International Realty. Wilkerson and real estate agent Spencer Hsu, who estimates about 80% of his clients work in AI, have seen competition become particularly fierce in the higher end of the market where homes sell for $5m and above. “Just this last week, I had five calls from new buyer clients who said: ‘I know that OpenAI and Anthropic and SpaceX and these IPOs are going to happen. I want to try to get in the market before that wave of money comes,’” Wilkerson said. Even though home prices are high, some of these potential buyers reason the market will only get more expensive post-IPO. “‘I might as well just buy it now,’” Hsu said, describing their mentality. View image in fullscreenSan Francisco, on 30 December 2025. Photograph: Anadolu/Getty ImagesHigh-earning tech workers influencing the Bay Area’s housing market is not a new phenomenon. The dotcom era ushered in a millionaire class plucked from the C-suites of buzzy internet sites. In the ensuing so-called “gold rush” era, “shares went up like crazy … house prices soared”, said Ken Rosen, chair of the University of California, Berkeley’s Fisher center for real estate and urban economics. A similar housing dynamic played out again in the early 2010s, when employees at Twitter (now X) and Facebook (now Meta), among other top tech firms, got substantial paydays from those companies’ IPOs.

AI wealth boom sending San Francisco home prices surging: ‘It’s ridiculous’