Europe
BBC Business

What is Helium-3 and could we get it from the moon?

One of the most valuable assets owned by Lancaster University is stored in beer kegs. In a carefully locked laboratory rows of metal kegs are arranged on shelves and linked together with spindly copper pipework. The containers aren't loaded with prize beer but rather a gas called helium-3, one of the most expensive materials in the world. A single litre costs roughly $2,000 (£1,500), though the price can fluctuate. "The lab has been going for 50 years or so. Back then, the helium was quite cheap," says Dima Zmeev, senior lecturer. "Our very wise predecessors stocked up." In the near future, more people could be looking to build up such a stockpile. Helium-3 has applications in quantum computing and nuclear fusion. However, the main source of it today is tightly controlled – it comes from nuclear weapons. Specifically, from the decay of tritium, a form of hydrogen, inside those weapons. Around the world, tens of thousands of litres of helium-3 are likely to be produced this way every year, estimates David McCollum, distinguished scientist at Oak Ridge National Laboratory in Tennessee. But future demand could far exceed that supply. Some entrepreneurs and researchers say we need new sources of helium-3. It exists in the ground, though generally at very low concentrations. However, samples of moon dust, or regolith, from the Apollo missions suggest it may be present there at relatively high concentrations. As such, plans are now afoot to recover helium-3 from the moon. Helium-3 is an isotope of helium, defined by the number of neutrons in the atom's nucleus. Helium-4, with one additional neutron, is the comparatively cheap version – a gas that fills children's party balloons. Zmeev uses helium-3 in physics experiments. For example, he fills tiny chambers with the stuff, in a project to detect a type of mysterious dark matter particle. Should such a particle knock into one of the helium-3 atoms, it would make them all jiggle. This generates heat and that slight temperature rise can be measured. Scientists mix helium-3 and helium-4 together at very low temperatures to create the lowest temperatures in the known universe, down to the millikelvin range (-273C).

What is Helium-3 and could we get it from the moon?
Europe
BBC Business

Thames Water moves step closer to nationalisation after government objects to rescue deal

The government has objected to a proposed rescue deal for Thames Water, in a move which takes the UK's largest water company a step closer to a form of nationalisation. Environment Secretary Emma Reynolds wrote to the industry regulator on Monday to raise concerns over the £10bn package put forward by the firm's lenders. Fears the company could collapse first emerged three years ago, and the government has been on standby to take control if required ever since. A government spokesman told the BBC that the current offer "does not do enough to protect consumers or the environment". Thames Water - which serves about 16 million customers, mostly across London and parts of southern England - has faced heavy criticism in recent years over its performance, sewage discharges, and pipe leaks. In May last year, it was handed a £122.7m fine, the biggest ever issued by the water industry regulator, for breaching rules on sewage spills and shareholder payouts. A group of its existing lenders has offered to write off £9.4bn of its near £20bn debt pile and inject billions in new money, but want leniency from future pollution fines in return. London & Valley Water, a consortium of large financial institutions and investors, said some £3.35bn of cash would be put into the company along with a new £6.55bn debt facility. It would be part of a £10bn business plan until 2030. A spokesman for the group has previously said the proposed rescue deal would "fund significant improvements for customers, clean up local rivers and achieve full compliance as quickly as possible". Ofwat, which regulates water companies in the UK, has been reviewing the proposal and a decision is expected this summer. Without a rescue deal agreed, Thames Water is set to run out cash within a matter of months and could collapse. The Times, which first reported the story, said the government's intervention was over concerns the deal would place an "undue burden" on customers. Reynolds is due to address Parliament on Tuesday.

Thames Water moves step closer to nationalisation after government objects to rescue deal
North America
Yahoo Finance

US futures surge as Iran ceasefire deal sends oil tumbling and tech stocks flying

The content on this Site is provided for information purposes only and does not constitute investment advice, a personal recommendation, an offer or solicitation to buy or sell securities, or any other regulated activity. It should not be relied upon as the basis for any investment decision. Past performance is not a reliable indicator of future results. The value of investments can fall as well as rise. You may not recover the amount you invest, and in some cases you may be required to pay more. Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. US stock futures surged on Monday after Washington and Tehran announced a ceasefire agreement that should reopen the Strait of Hormuz, sending oil prices sharply lower and lifting risk appetite at the start of a holiday-shortened week. Nasdaq 100 futures led the advance with a gain of 2%, while S&P 500 futures rose 1.3% and Dow Jones futures climbed 1%, building on solid gains from Friday. President Trump described the ceasefire as "complete" in a Truth Social post late Sunday, with formal signing expected in Switzerland on Friday and peace talks to begin within 60 days.

US futures surge as Iran ceasefire deal sends oil tumbling and tech stocks flying
Europe
BBC Business

The US and Iran have agreed a deal. How soon could the economy go back to normal?

More than three months after the US and Israel first began their war with Iran, the White House and the Iranian regime have agreed a framework deal to bring about a more long-term end to hostilities. The Middle East crisis sent global oil prices soaring as the conflict effectively closed one of the world's key water transport routes for oil, liquid natural gas and other essential commodities, limiting global supplies. But experts warn a return to normal shipping through the Strait of Hormuz will take time, and the impact of the war will continue to affect the global economy for potentially months to come. "Let the oil flow!" US President Donald Trump said in a social media post heralding the agreement, which he said would include the reopening of the strait to commercial shipping. BBC Verify has been checking ship-tracking data which appears to show that traffic levels remain low in the Strait of Hormuz, despite the announcement. According to ship tracking website MarineTraffic, only two vessels with active location trackers have exited the waterway since Sunday - a bulk carrier and a tanker. The strait has been closed to most shipping traffic since 28 February, with only limited numbers of vessels friendly to Iran able to pass through. About 200 vessels have been stuck in the gulf, with the risk of sea mines or drone strikes driving up the danger to crews and preventing safe passage. Neil Shearing, group chief economist for Capital Economics, said it remained to be seen whether the latest deal "represents a fragile truce or a durable settlement". He added that it was likely it will "take some time for oil flows through the Strait to return to pre-war levels". "Even if ships now have safe passage, tankers are in the wrong place, oil production/refining facilities need to get up to full capacity, and questions over the cost and availability of insurance for ships traversing the Strait will remain," he said. Even before the agreement, during the ongoing ceasefire, shipping companies were largely reluctant to try to move their vessels out of the strait – and getting those vessels out will be their first focus.

The US and Iran have agreed a deal. How soon could the economy go back to normal?
India
The Hindu BusinessLine

MoD’s in-principle approval for ₹500 cr National Military Drone Technology Hub at IIT Kanpur

The Ministry of Defence (MoD) has granted in-principle approval for a ₹500 crore National Military DroneTechnology Hub at IIT Kanpur, offering a full stack capability from design, test and certify military payloads, data links, ground stations and counter-drone systems. The Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) -- the primary nodal agency for Uttar Pradesh Defence Industrial Corridor (UP DIC) -- drafted a proposal which was subsequently submitted by the UP government to the MoD on May 29, 2026, requesting early sanction and nomination of a National Military Drone Technology Hub at IIT Kanpur Centre of Excellence (CoE). This was done on the directions of UP Chief Minister Yogi Adityanath who reviewed the progress on April 10, this year, to give a boost to the IIT Kanpur earlier designated as a CoE with a total outlay of ₹20.3 crore, of which ₹15.3 crore was funded by the State, as per state government officials. “This Hub makes UPDIC a global benchmark in unmanned systems and gives our forces a decisive tech edge. UP will now lead India’s military drone innovation,” said a senior state government officer. The CoE is already operational as an integrated hub for R&D, testing, training and startup incubation in drone technologies. It will drive civil–military fusion model, scaling up dual-use drone technologies developed under Drone Shakti for defence applications. Also, utilise nodes of the Uttar Pradesh Defence Industrial Corridor (Aligarh, Agra, Jhansi, Kanpur, Lucknow, Chitrakoot) for distributed manufacturing and MRO (Maintenance, Repair, Overhaul), with IIT Kanpur CoE leading R&D and standardisation. The Army Design Bureau (ADB) has been designated as the single point of contact for coordination. A Monitoring Committee has been constituted under Additional Secretary & DG (Acquisition), Department of Defence, and the first review meeting was held on June 3 where IIT Kanpur was requested to submit a revised proposal by the end of this month adopting a whole-of-nation approach, said officials. The move is aimed at establishing Uttar Pradesh as a national hub for defence drone technologies and strengthen the UP Defence Industrial Corridor ecosystem through enhancement of advanced manufacturing, R&D, startup ecosystem and high-skilled employment, the officials stated. For close coordination with MoD, Army Design Bureau and IIT Kanpur, the UP government -- as suggested by MoD -- is going to nominate a nodal officer for streamlined inter-departmental coordination. Officials stated that the Hub will accelerate indigenisation under Make-1 and Make-2 categories and cut-down import dependence in critical drone sub-systems. 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.

MoD’s in-principle approval for ₹500 cr National Military Drone Technology Hub at IIT Kanpur
India
The Hindu BusinessLine

Brokers’ call: Motilal Oswal (Buy)

Motilal Oswal Financial Services (MOFSL) is a diversified Indian financial services group with businesses spanning wealth management, asset management and capital markets. MOFSL looks well positioned to capitalise on India’s structural financialisation, with exposure to high-growth AUM pools from wealth and asset management. We believe industry tailwinds remain robust and forecast mutual funds’ AUM to grow at an 18 per cent CAGR by FY30E, with a 20%-plus CAGR (FY30E) for HNI wealth and alternatives. The firm is transitioning to an AUM-led, annuity-driven model, where growth is linked to client assets rather than transaction volumes. For FY26-29E, we expect AUM to expand at a 21 per cent CAGR, driving a 19 per cent revenue CAGR. We believe the market underappreciates MOFSL’s shift to higher quality, recurring wealth and distribution earnings, reducing broking cyclicality and driving a 22 per cent earnings CAGR over FY26-29E. We believe historical multiples are of less relevance due to the evolving business model and increasing share of fee-based income. Our valuation is anchored to higher multiples for asset-light businesses (AMC about 28x, private wealth around 25x, wealth 18x) and a relatively lower multiple for capital markets (14x) on FY28E earnings. Based on our PEG ratio analysis, we think the stock offers attractive risk-reward, trading at 15x one-year forward PE, slightly above its three-year average. We initiate coverage at Buy. 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.

Brokers’ call: Motilal Oswal (Buy)
India
The Hindu BusinessLine

Novartis brings in its advanced-prostrate-cancer drug to India

Swiss drugmaker Novartis has launched its advanced-prostrate-cancer drug Pluvicto in India. The development comes about four months after the parent company had announced its exit from its listed entity in India. According to Novartis India, Pluvicto (lutetium (177Lu) vipivotide tetraxetan) was the country’s first “regulatory authority approved” radioligand therapy for patients with Prostate-Specific Membrane Antigen (PSMA)-positive prostate cancer. A precision drug, it is designed to target prostate cancer cells, minimizing exposure to healthy tissues, the company said, without disclosing the medicne’s price. Prostate cancer is among India’s top three cancers affecting urban men, the company said, with nearly 250,000 cases every year, it added. “Approximately 50 percent of diagnosed patients present at a metastatic stage, where treatment becomes significantly more complex due to poorer prognosis, treatment-related side effects, and challenges in treatment sequencing,” the company said. Amitabh Dube, Novartis India’s Country President and Managing Director, said in a statement, “In India, a large proportion of prostate cancer patients continue to be diagnosed only after the disease has progressed to a metastatic stage, limiting treatment options and impacting quality of life. With the launch of Pluvicto, we are bringing a globally recognized radioligand therapy platform to India at a time when the need for precision oncology solutions is increasing rapidly.” India’s nuclear medicine ecosystem has expanded over the past decade and presently includes more than 250 nuclear medicine centres across the country, he said. “Novartis plans to collaborate with healthcare institutions, oncologists, nuclear medicine specialists, and hospital partners to support treatment readiness and multidisciplinary care pathways for eligible patients,” he said. The product would be made available through select hospitals and nuclear medicine centres across India as part of Novartis’ partnership-led approach for bringing radioligand therapies to India, he added. Judith Love, Novartis Region Head Asia Pacific Middle East Africa, said, the introduction of Pluvicto marked a step in bringing globally approved innovation to patients who need more targeted treatment options. Earlier in February, Novartis AG had said it was selling its entire 70.68 per cent stake in Novartis India Ltd (NIL) to the ChrysCapital group for ₹1,446 crore – a development that came two years after the parent company first indicated that the India listed entity was under review. The company had then indicated it would be present in India through Novartis Healthcare Private Limited, a wholly owned, unlisted subsidiary through which it has been bringing its innovative products into India. In 2024, Novartis Chief Executive Vas Narasimhan had said the company had completed its “strategic transformation into a pure-play innovative medicines company”, focused on cardiovascular-renal-metabolic, immunology, neuroscience and oncology; with the US, China, Germany and Japan identified as geographies of growth. 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.

Novartis brings in its advanced-prostrate-cancer drug to India
North America
CNBC Finance

KFC leans into boneless chicken, new drinks as chain tries to regain market share

To win over today's diners, KFC is prioritizing boneless chicken menu items, expanding its sauce options and designing its restaurants to keep customers' attention. These days, the Yum Brands chain is facing stiff competition, both from upstart chicken chains and legacy giants like McDonald's that are betting big on the growing global popularity of chicken. While KFC claims to have invented the chicken quick-service restaurant category, being the first isn't the same as being No. 1, particularly in the U.S., where its sales have slumped in recent years. "In an increasingly crowded category, we have a clear opportunity to set the standard for modern chicken in QSR," KFC Global CEO Scott Mezvinsky said Monday in a statement announcing the chain's "next chapter." As part of that, the chain plans to expand its boneless chicken options and improve its recipe for its existing tenders. "We are moving from chicken-on-the bone to more and more boneless chicken," KFC Chief Concept Officer Christophe Poirier told CNBC. "We are evolving our tenders to make sure that, nonnegotiable, we're going to have the biggest, the juiciest and the crispiest," he added. KFC is also expanding its available sauces to appeal to consumers who like dunking, drenching or drizzling their chicken tenders. The chain's "global sauce pantry" has more than 20 varieties that often mix classic sauces with new flavors, like its chimichurri ranch. (KFC's tender- and sauce-centric spinoff restaurant chain Saucy, meanwhile, has grown to nearly a dozen locations, all in Florida.) This month, restaurants in the United Kingdom and Ireland will begin rolling out the new tenders, as well as nine new sauces. Australia and the United States will follow later this summer, with more global markets expected throughout the rest of the year. KFC is also launching a menu line called "Dunked," which features tenders, wings and sandwiches drenched in sauce. The menu items are already available in South Africa and India. Like many fast-food restaurants, KFC is also expanding its range of drink options to include boba refreshers, sparkling lemonades and iced coffees under a new sub-brand called Kwench by KFC. Select Irish and British restaurants already sell Kwench drinks, but Australia and Canada will add them to their permanent menus this year. "We can rapidly cascade a lot of initiatives that we're leading from the center," Poirier said, crediting the chain's nimble supply chain. The chain's own restaurants will also look different as it rolls out new store designs. This summer, an "open-concept" restaurant in McKinney, Texas, will open its doors; an "immersive," two-story location in Dubai, United Arab Emirates, will follow in September.

KFC leans into boneless chicken, new drinks as chain tries to regain market share
Europe
BBC Business

Oil prices slide after Pakistan announces deal between US and Iran

Oil prices fell in Asia on Monday after Pakistan, which has been mediating an end to the US-Iran war, announced a deal that President Donald Trump said would see the reopening of the key Strait of Hormuz shipping route. Brent crude, the global oil benchmark, was 4.8% lower at $83.18 (£61.89) a barrel, while US-traded oil was down 5.6% at $80.13. Pakistan's prime minister Shehbaz Sharif said an official signing ceremony would be held on Friday, 19 June in Switzerland. Iran's Deputy Foreign Minister Kazem Gharibabadi confirmed in a phone call on state TV that a deal with the US had been finalised, while Trump posted on social media "let the oil flow!". But Vandana Hari from energy markets analysis firm Vanda Insights said a lack of detail on what has been agreed "is likely to inject unease and uncertainty into the market." This could mean a week of uncertainty and volatility for the oil market, she added. The Strait of Hormuz had been effectively closed since shortly after the US and Israel launched airstrikes on Iran on 28 February. Tehran had threatened to attack vessels using the crucial waterway, through which around 20% of the world's oil and liquefied natural gas (LNG) normally passes. Global energy markets have been on a wild ride in recent months, with prices often rising or falling sharply in response to developments in the US-Israel war with Iran. Brent crude, which was trading at around $70 a barrel before the conflict started, peaked at about $120 during the war. Energy market experts have also warned that the movement of oil through the strait is unlikely to immediately return to pre-war levels. Andrew Lipow from consulting company Lipow Oil Associates said mines would first need to cleared from the waterway, which could take from a few weeks to up to six months.

Oil prices slide after Pakistan announces deal between US and Iran