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The Hindu BusinessLine

IIT Madras signs off milestone year with 3,518 degrees awarded

His Excellency Dr. Hussein Ali Mwinyi, President of Zanzibar presents ‘President of India Prize’ to Mr. Ashwin Subramanian Murugan during IIT Madras’ 63 Convocation on 17 July 2026 The Indian Institute of Technology Madras (IIT-Madras) hosted its 63rd convocation ceremony here on Friday, where 3,518 degrees (including Joint and Dual Degrees) were awarded to 3,106 graduating students. The institute also awarded 511 doctoral degrees for the second consecutive year which V Kamakoti, Director IIT Madras suggests will be a significant step to address the faculty shortage across the higher educational institutions in the country. Addressing the graduating class, Kamakoti mentioned that 2026 had been a milestone year for the institute which has been consistently ranked as India’s number 1 engineering college. The convocation ceremony was presided over by Hussein Ali Mwinyi, President of Zanzibar, where the institute hosts its first international campus. “The establishment of IIT Madras Zanzibar, the first international campus of IIT-Madras, represents far more than an educational milestone. It reflects a shared belief that knowledge should know no borders and that excellence should never be confined by geography. Today, students from Zanzibar, mainland Tanzania, India and several other African countries study side by side. They bring different cultures, different experiences and different perspectives, yet they are united by a common pursuit of excellence,” Mwinyi said. “In the academic year 2025-26, IIT Madras expanded its undergraduate portfolio with the introduction of BS programs in Mathematics, Aeronautics and Space Technology, Management and Data Science. At the postgraduate level, the institute launched M.Tech programs in Robotics, Mechanical Engineering and Semiconductor Materials Technology among others,” Kamakoti said. During the year, the Institute also launched IIT-M Global Foundation, an initiative to launch campuses and centres of the IIT-Madras ecosystem internationally, he added. IIT-M Global has launched an AI Innovation Center in Dubai, a $7.5 million Deep Tech Hub in California. IIT-Madras is also expanding its campus footprint with the establishment of a sustainability campus of 100 acre in the Auroville township and International Industry Innovation Campus I4C of 91.5 acre in Puducherry to strengthen research, innovation, technology transfer, industry academia collaboration and regional economic development. Beyond academics, the institute has also emerged as a major entrepreneurial ecosystem with IIT Madras incubating 100+ startups for the second year in a row in 2025-26. It also launched a 600 crore venture capital fund in partnership with Unicorn India Ventures to strengthen India’s deep tech innovation ecosystem. Pawan Goenka, Chairman of the Board of Governors at IIT-Madras highlited some of the noteworthy ventures emerging from the institute’s ecosystem including Ather Energy, Agnikul Cosmos, and GalaxEye.“This campus does not merely produce graduates and publish papers. It builds industries, creates jobs, and turns research into enterprise,” he said. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

IIT Madras signs off milestone year with 3,518 degrees awarded
Asia-Pacific
The Straits Times

Malaysia’s growth unexpectedly surges to 5.8% on exports

Strong domestic demand and a boom in semiconductor exports have made Malaysia’s economy one of South-east Asia’s fastest-growing in 2026. KUALA LUMPUR – Malaysia reported a surprise surge in economic growth in the second quarter as robust services and electronics exports countered the impact of the war in the Middle East. Gross domestic product rose 5.8 per cent in the three months to June from a year earlier, according to advance estimates from the Department of Statistics Malaysia on July 17, beating the 5.2 per cent median prediction in a Bloomberg survey. Strong domestic demand and a boom in semiconductor exports have helped offset disruptions from the conflict in the Middle East, reinforcing expectations that Malaysia’s economy can remain one of South-east Asia’s fastest-growing in 2026. A surge in investment tied to semiconductors and artificial intelligence has helped sustain growth even as the global outlook has become more uncertain. “The services sector remained the main driver of economic growth in the second quarter of 2026,” the department said. The mining sector also rebounded to grow 10.2 per cent, driven by natural gas. Construction expanded by 6.6 per cent, supported in part by data centre projects. Inflation, meanwhile, eased to 1.9 per cent in June, with analysts having expected it to stay at May’s 2 per cent level. Malaysia has largely contained consumer price increases through fuel subsidies that have offset the impact of elevated crude prices. The ringgit held a 0.2 per cent drop against the US dollar after the data, which add to evidence that South-east Asian economies are withstanding the impact of the conflict in the Middle East. Singapore and Vietnam also reported stronger-than-expected second-quarter GDP data. But the global outlook remains uncertain, with China’s economy having expanded slower than expected in the last quarter.

Malaysia’s growth unexpectedly surges to 5.8% on exports
Europe
BBC Business

I wouldn't marry him until he paid off his debt, now I'm in charge of our money

When Sarah Reeve got engaged she gave fiance Lee an ultimatum: he had to pay off his debt before she would marry him. "I was paying my mortgage and bills whereas he was giving his mum some rent," Sarah says of their situations when they met in their early 20s. So they set a wedding date for two years ahead which gave Lee the time to pay off the £2,000 bank loan - £4,000 in today's money, external - he had taken out to buy a car. Once Lee's debt was cleared, the couple paid everything into a joint account and Sarah took charge of bills, saving and budgeting. "He said 'you can sort it all out and take charge with money because I'm rubbish with it,'" she says. Sarah's experience reflects a wider trend of more than four fifths of women being actively involved in managing daily finances like day-to-day spending and household budgeting, according to St James's Place's Women and Wealth Report. Sarah earns £24,000 working part-time in insurance and Lee worked in maintenance at the same factory for 27 years, earning about £26,000, before being made redundant four years ago. The couple, who have been together for 25 years and have two daughters, aged 19 and 21, have always thought of money as shared. "It's very much our money rather than mine or yours which is really nice especially as I took four years off work when we had children," says Sarah. After getting out of debt, Sarah says she and Lee have never overstretched themselves and have made regular overpayments on their mortgage. "That really helps as if we've had a bad month, at least you know and can find the reason." Family Action, a charity that offers financial support to families, says that when money is tight the first step "is getting a clear picture of what's going on as this helps you understand your current position so you can make the best decisions possible together going forward".

I wouldn't marry him until he paid off his debt, now I'm in charge of our money
North America
Yahoo Finance

XYLD Versus SPY: The 28% Price Return Gap Nobody Discusses

The Global X S&P 500 Covered Call ETF (NYSEARCA:XYLD) pays income the way a landlord collects rent on someone else’s future gains. XYLD sits on the S&P 500 and sells one-month at-the-money call options against it, then hands the premiums back to shareholders every month. That mechanic has produced a trailing 12-month payout of $4.2378 per share, roughly a 10.3% yield on a $41 share price. The question every XYLD holder should be asking is whether that check stays this size, and the answer is: the distribution is structurally reliable, but the number attached to it is not. XYLD holds the S&P 500 and writes standard covered calls on the index each month. When those options expire worthless (the market stayed flat or fell), the fund keeps 100% of the premium and passes most of it through as a distribution. When the market rallies past the strike, the fund gives up that upside above the cap in exchange for the premium it already collected. Global X charges 0.6% for the wrapper, on top of a fund with $3.1 billion in net assets as of April 2026. The dividend, then, is really an option-premium pass-through. It cannot “get cut” the way a company slashes its payout. It floats month to month with implied volatility. Look at the monthly stream and the pattern is obvious. During the March 2026 volatility spike (VIX peaked near 31), XYLD’s March distribution came in at $0.3905 and May’s followed at $0.4012. Compare that with the sleepy tape of late 2025, when VIX bottomed near 13 and the September 2025 distribution shrank to $0.3016. Higher fear equals fatter premiums equals bigger checks. The current VIX print near 17 sits right around the 12-month median, meaning premiums are middling. That is why the forward annualized estimate of $4.0836 runs modestly below the trailing figure. Full-year totals confirm the swing: $5.0447 in the volatile 2022 tape versus $4.1708 in 2025. Same fund, same strategy, different regime. The income comes at a real price. Over the last year, SPDR S&P 500 ETF Trust (NYSEARCA:SPY) delivered a total price return of 20%. XYLD, with distributions reinvested implicitly, returned 17% on price, and its five-year price gain of 45% trails SPY’s 73%. The covered-call cap ate roughly a third of the upside in a strong bull tape. That is the structural cost of turning capital appreciation into monthly cash. There is also the Treasury alternative. The 10-year is yielding 4.6%, so XYLD’s income premium over risk-free is still real, roughly 5.5 percentage points, but investors are earning it by absorbing full equity drawdowns with only a small volatility cushion. XYLD’s distribution is safe in the sense that will not fail. It is a mechanical pass-through governed by option premiums, and the fund has paid monthly without interruption for years. The risky assumption is expecting a fixed 10% yield to persist. Model your income at the forward estimate of roughly $4.08 per share and treat anything above that as a volatility bonus. If you want equity income with more room to grow the principal, a lower-yielding dividend growth fund like Schwab U.S. Dividend Equity ETF (NYSEARCA:SCHD) hits a different point on the same tradeoff. XYLD makes sense for retirees and income-first investors who need consistent monthly cash and accept muted upside. It works less well as a total-return vehicle in a market that keeps grinding higher.

XYLD Versus SPY: The 28% Price Return Gap Nobody Discusses
Europe
BBC Business

Investigation into parking tickets for drivers queuing at petrol stations

Image source, Getty ImagesByKaty Austin, Transport correspondent and Rachel Clun, Business reporterPublished16 July 2026, 11:49 BSTUpdated 32 minutes agoOne of the UK's largest private parking providers is being investigated by the competition regulator over whether parking tickets for drivers queuing at petrol forecourts are fair. Euro Car Parks' broader appeals process relating to petrol stations and car parks is also being looked into, to determine if it breaches consumer protection law. The investigation forms part of a wider crackdown by the Competition and Markets Authority (CMA) into potentially unfair practices by private parking operators. Research by the RAC has suggested the number of tickets issued in places like gyms, supermarkets, restaurants and retail parks more than doubled in six years, to 14.4 million. Motorists have complained about these parking issues, the CMA said, highlighting problems including unclear signage, faulty apps and broken ticket machines. The regulator said it wanted to make sure drivers are being treated fairly following complaints from motorists who feel they've been unjustly issued with parking tickets. The CMA says it has its own concerns about the way some operators are handling appeals, or attempting to make motorists pay additional fees on top of parking charges. It has written to the sector as a whole, and issued warnings to some individual operators about their practices. The CMA's executive director of consumer protection Emma Cochrane said receiving a parking ticket could be a stressful experience. "Costs are high and often unexpected which is difficult when people are budgeting carefully," she said. "Parking companies must treat motorists fairly at all stages – and a clear and consistent appeals process must be at the heart of this. "It's time for all private parking operators to comply with consumer law or risk action from the CMA."

Investigation into parking tickets for drivers queuing at petrol stations
North America
CNBC Economy

India's inflation accelerates to 4.38% in June, exceeding forecasts

India's consumer price inflation rose to 4.38% in June, up from 3.93% in May as the U.S.-Iran war ‌and a weak monsoon raised food and fuel prices, adding to cost pressures. The headline inflation number was above economists' expectations for a 4.30% rise, according to a Reuters poll. The year-on-year inflation rate based on the All India Consumer Food Price Index (CFPI) for the month of June was 5.32%, India's Ministry of Statistics and Program Implementation said in a Monday release. Transport inflation rose 4.3% in June, quicker than the ​1.75% rise in May, it said. Last month, India's central bank kept interest rates unchanged but said it expects inflation to rise and growth to temper in the financial year ending March 2027. The Reserve Bank of India forecasts inflation to shoot up to 5.1% as consumers pay higher fuel prices and the country faces a risk of crop shortages caused by weather-related disruptions from El Niño this year. It pegged core inflation at 4.7% for the same period. After a brief ceasefire between Iran and the U.S. in June, hostilities between the two sides resumed last week. Global oil prices have risen as the U.S. and Iran contest for control of the Strait of Hormuz, one of the most important trade routes for global energy supplies. India, the world's fastest-growing major economy, is among the countries most vulnerable to the supply disruptions caused by the Iran war. The South Asian country imports nearly 85% of its fuel needs and relies on the Strait of Hormuz for about 50% of its crude imports, 60% of its liquefied natural gas, and almost all of its liquefied petroleum gas supplies. The South Asian country is also facing the risk of El Niño this year. Despite the copious downpour that led to flooding across many parts of the country in the last two weeks, India still faces the prospect of a deficient monsoon this year. "Following a parched June, the monsoon advanced rapidly, reducing the all-India rainfall deficit from 40% to 15% as of July 8," S&P Global-owned Indian research and rating firm Crisil said in a report on Friday. But the India Meteorological Department (IMD) has forecast July rainfall will come in at 6% below the long-period average. These swings between rainfall scarcity and surplus "can be as disruptive to agriculture as a weak monsoon itself," as it influences sowing decisions, crop health and ultimately rural incomes, Crisil said.

India's inflation accelerates to 4.38% in June, exceeding forecasts
Europe
The Guardian

Largest landlord in the US accused of civil rights violations

Union on Knox, an apartment complex, in College Park, Maryland. Photograph: Karl Merton Ferron/Baltimore Sun via Getty ImagesView image in fullscreenUnion on Knox, an apartment complex, in College Park, Maryland. Photograph: Karl Merton Ferron/Baltimore Sun via Getty ImagesThe price we payUS newsLargest landlord in the US accused of civil rights violationsFair housing complaints accuse Greystar of refusing to take tenants who use federal rent vouchers About this contentTracie McMillanThu 16 Jul 2026 14.09 EDTLast modified on Thu 16 Jul 2026 14.19 EDTSharePrefer the Guardian on GoogleGreystar, the largest owner and manager of apartments in the US, systematically flouts local laws designed to make housing affordable to the poor, according to civil rights complaints filed with authorities in six states and the District of Columbia. The complaints – filed this week with government agencies in California, Hawaii, Maryland, Michigan, New Jersey, Virginia and Washington DC – accuse Greystar of 114 violations of state and DC fair housing laws. They allege that the company refuses to accept federal housing choice vouchers (also known as Section 8) in places that require landlords to accept them. “We have never encountered a landlord that operates with such brazen contempt and hostility toward the rule of law as Greystar,” Aaron Carr, executive director of the Housing Rights Initiative, said in a statement. “… As the largest landlord in America, Greystar should be setting the standard of best practices for the nation, not systematically rejecting legitimate prospective tenants.” Carr’s group and a national law firm, Cohen Milstein, submitted the complaints and publicly shared recordings of calls made to Greystar-run buildings by undercover testers posing as potential tenants with vouchers. At every building, the group says, Greystar staff either refused to accept vouchers or imposed unlawful conditions on voucher use. In a statement, Greystar did not address the specifics of the complaints but said it is “committed to fair housing practices in everything we do” and provides related training to staff. As of December, the company operated more than 1m units of housing in the US, including roughly 235,000 in the jurisdictions where the complaints were filed, according to Yardi Matrix data analyzed by the Private Equity Stateholder Project. The allegations come less than a month after a Guardian investigation reported that tenants in Greystar-run buildings face a mass of fees drawn from a menu of 125 different add-on charges. Lawsuits currently seeking class-action status in multiple states allege Greystar charges inflated or illegal fees. In 2025, Greystar agreed to a $50m settlement to resolve a federal class action alleging it colluded with other landlords to raise rents and reached a $24m settlement in a Federal Trade Commission case alleging it gouged tenants with hidden fees. Greystar did not admit wrongdoing in connection with those settlements and has said that the claims in the pending class actions are implausible and factually deficient.

Largest landlord in the US accused of civil rights violations
North America
CNBC Finance

Lucid dismisses report that it is weighing filing for bankruptcy or going private after shares plunge

Lucid Motor stock fell more than 40% at one point and trading was halted for volatility multiple times Tuesday amid speculation that the company is considering new options. The stock recovered some of its intraday losses and closed the day 16% lower, trading for $4.62 a share. A site focused on electric vehicles called EV reported Tuesday Lucid was considering going private or filing for Chapter 11 bankruptcy protection. According to the site, the company asked AlixPartners to review those options and deliver its findings to Lucid's board before its next meeting. The report from EV also said AlixPartners had encouraged the board to further restructure in the U.S. and Europe and to focus on the Gravity SUV. AlixPartners said it had no comment on the report. Lucid said in a statement that "the rumors are completely false." "The company has sufficient liquidity to carry its operations well into next year, as recently published in its last quarterly filings, and it has not formed any special Board committee to explore the scenarios reported today," the company said in a statement." Our focus is on improving execution, strengthening operations, and positioning Lucid to realize the full potential of its technology, products, and innovation. AlixPartners is assisting us in that and nothing else and has not recommended bankruptcy to management or the Board." Lucid has been facing an increasingly challenging market amid slower-than-expected adoption of EVs and changing regulations under the Trump administration, including the elimination of a $7,500 federal incentive for purchasing an EV. The EV maker, which is heavily backed by Saudi Arabia's Public Investment Fund, said last month that it was laying off 18% of its U.S. workforce as part of a cost-savings plan. Earlier this month, Lucid missed Wall Street expectations for second-quarter delivery results. The company's new CEO Silvio Napoli announced a shake-up of the company's leadership team at the time to "simplify the company's structure." Lucid in May suspended its production guidance as Napoli said he would be evaluating the company's business decisions, adding that it needs to lower its "elevated inventory" of vehicles. Get this delivered to your inbox, and more info about our products and services.

Lucid dismisses report that it is weighing filing for bankruptcy or going private after shares plunge
North America
CNBC Economy

World Cup gave bars and restaurants a needed boost as consumers flash warning signs, Fed says

While the FIFA World Cup provided a tourism boost to host cities, its positive impact was mitigated by economic weakness seen elsewhere, according to a Federal Reserve report released Wednesday. The soccer tournament, which the U.S. co-hosted, has fetched median admissions prices topping $900, according to TicketData. Yet the latest edition of the Fed's Beige Book — a recap of regional conditions published eight times a year — indicated that the event wasn't necessarily catalyzing broader economic growth. The Boston Fed reported that city hotel bookings related to the World Cup were initially softer than expected. But these hotels saw stay levels rise to meet forecasts after the hotels lowered prices for rooms. Bars in the Massachusetts city reported higher beer sales connected to the tournament. Some Boston watering holes reportedly ran out of beer when Scottish fans descended on the city. The Boston Fed's coverage region saw more visitors from Canada than it did last summer. Still, it said those levels were still far lower than historical averages, a trend that's specifically hit towns in coastal Maine and northern Vermont. Some restaurants and bars in New York City said sales were "strong" as a result of match-viewing events, the New York Fed said. However, other eateries said they had fewer international visitors, with Canadian foot traffic specifically down. The Canadian government has reported fewer citizens crossing the U.S. border following President Donald Trump's tariff policy rollout and sovereignty threats. It's part of a bigger push among residents of the Great White North to spend money on services and products within their country. New York City had hotels reporting higher occupancy and prices per room from the tournament, according to the New York Fed. But the bank reported some mid-tier attractions are seeing softness, while a department store said an increase in foot traffic from the tournament didn't result in higher sales. In cities hosting World Cup matches tracked by the San Francisco Fed, tourist volumes came in high. Yet in other markets, locals pulled back spending on restaurants, hotels and entertainment. Overall, the San Francisco Fed said, demand for consumer and business services "slowed somewhat on net." Across the board, the Fed said growth in consumer spending was capped as rising oil prices led them to cut back elsewhere. Several regions observed consumers looking for cheaper alternatives to products or decreasing discretionary spending to save money, according to the report. Get this delivered to your inbox, and more info about our products and services.

World Cup gave bars and restaurants a needed boost as consumers flash warning signs, Fed says