Latest Developments

Europe
BBC Business

Learner drivers still forced to wait months to book tests

Image source, Getty ImagesByKaty Austin, Transport correspondent, Emer Moreau, Business reporter and Simon Browning, Business reporterPublished9 September 2026, 09:50 BSTUpdated 15 minutes agoLearner drivers have to wait an average 20 weeks before booking a practical test, according to new figures, despite attempts to reduce delays. The data from the Driver and Vehicle Standards Agency (DVSA) for August is only a marginal improvement from 20.2 weeks in July. The average wait time between booking and sitting a test is unchanged at 11.1 weeks. The DVSA initially had a target of reducing the average waiting time to seven weeks by the end of last year. Transport Secretary Heidi Alexander pushed the target back to summer 2026, but subsequently admitted even that would not be possible. The DVSA made a number of changes to its practical driving test booking system earlier this year. Only the learner driver themself is now able to book their driving test, blocking an instructor or third parties from booking using the learner's details. There is also a geographical restriction which means a learner can only book a test at their three local test centres, rather than one at the other side of the country if they found a test available. The number of times a would-be driver can swap a test date has also been restricted. Lucy Rend is 19 and lives in south east London and has been learning to drive for two-and-a-half years. She has a driving test on Thursday and feels under pressure to pass because getting a slot has been so difficult. It meant getting up at 5.45am everyday to get on the DVSA for 6am. "Then I'd be 21,000 in the queue," she said. "It was very hard but randomly one popped up." Rend: "I feel lots of pressure to pass because if I don't pass I will have to go through all that again and try find another test, so would rather pass this one and then it is done." Her friends are also struggling to book a test and "most of them have given up and not going to bother anymore".

Learner drivers still forced to wait months to book tests
Europe
BBC Business

Anthropic researcher believes more than 10% chance AI 'could kill all humans'

A top safety researcher at Anthropic has warned that AI is advancing so quickly he believes there is a greater than 10% chance it "could kill all humans" within the next decade. Evan Hubinger said in a post on X, external that the risk from the models which currently exist was "low" but he was "worried" the technology might develop and improve itself soon to the point where it posed an existential risk to humanity. It comes after the Financial Times reported, external Anthropic withheld its latest model from the UK's AI Safety Institute (AISI), one of the leading bodies in the world for assessing AI risk. Hubinger did not spell out how he thought AI systems could in future attack humanity. His comments were in response to another post on X, external from Jacob Coxon, who described himself as an AI researcher who had just quit Anthropic, and previously worked at OpenAI. "These will soon be superhuman systems that can hack anything, revolutionise any field overnight, and acquire real power and resources." A Cabinet Office spokesperson did not comment on whether the latest model had been withheld from the AISI - instead saying it "continues to collaborate closely with industry partners, including Anthropic, to make models safer". Neil Lawrence, Professor of Machine Learning at University of Cambridge, told the Today Programme on BBC Radio 4 that the report was credible. "I suppose it's unsurprising against a background where there's a perception where the United States very much sees AI as a race between themselves and China and is moving more towards isolationist positions, that it might be that the administration is saying that they should reduce cooperation with some of their allies," he said. In his post, which has been viewed more than 10 million times, Hubinger said "we really do earnestly believe" AI poses a species-ending risk to humans. "I believe Anthropic is trying its best, but we do not yet have a plan to solve alignment for superintelligence and are not clearly on track to," he added. Hubinger works in AI alignment, which aims to build human ethical ideas and principles into the technology. In other words, it aims to keep it on track with what humans value.

Anthropic researcher believes more than 10% chance AI 'could kill all humans'
Europe
BBC Business

What are my rights if my flight is cancelled or delayed?

Image source, AFP via Getty ImagesPublished31 May 2022Updated 3 hours agoThousands of air passengers have seen their travel plans disrupted after an air traffic control problem grounded nearly 2,000 flights across the UK. When a flight is cancelled or delayed, passengers affected have various rights – such as a refund or be put on another flight. However, these can vary depending on which carrier you are flying with and from where. Only when an airline is at fault - not issues such as air traffic control problems - is extra compensation payable. Here's what it means for you. When flights are delayed or cancelled, UK and EU airlines, and other carriers when you are departing a UK or EU airport, have a duty to look after you. The reason for the delay or cancellation does not matter. So anyone affected by the air transport delays will be eligible. That includes providing meals and accommodation, if necessary, and getting you to your destination. The airline should organise putting you on an alternative flight, at no extra cost. Additional losses, such as unused accommodation, might require a claim to a credit card provider, if that was the payment option used. After that, a claim may need to go to your travel insurance provider. But there is no standard definition of what is covered. It may require a close look at the details of the policy to see what is covered, and in which circumstances. Passengers are also being urged to heed travel advice from the UK government, external, as this can also affect travel insurance rights. If your flight is covered by UK law, your airline must let you choose between either getting a refund or being booked on to an alternative flight. So, if you booked a return flight and the outbound leg is cancelled, you can get the full cost of the return ticket refunded.

What are my rights if my flight is cancelled or delayed?
Asia
The Hindu BusinessLine

Nifty may reach 26,200 by December 2026 as earnings cuts, market risks ease: BofA Securities

BofA Securities has turned constructive on Indian equities after maintaining a cautious stance for nearly two years, forecasting a potential 12 per cent upside in the Nifty to 26,200 by December 2026 in its base case, as several market risks have either played out or been priced in. The brokerage said five of the eight risks it had identified as drivers of market volatility have either materialised or been absorbed by markets. The remaining three risks could pose around 7 per cent downside to the Nifty in its bear case, although BofA expects some of these pressures to peak by October 2026. Among the key risks, crude oil prices remain a concern after the recent market correction pushed prices above $100 a barrel. However, BofA noted that crude has reversed from the $100-a-barrel level seven times over the past seven months since the start of the West Asia conflict. The brokerage expects crude to average $81 a barrel in the fourth quarter of calendar 2026.BofA also expects recent foreign inflows of $136 billion to help stabilise the Indian rupee, with an appreciation bias. Meanwhile, the current 13 per cent monsoon deficit is already close to its worst-case weather forecast of a 15 per cent deficit. On monetary policy, BofA's economist expects the Reserve Bank of India to raise rates by 25 basis points by December 2026, compared with 45 basis points of hikes currently priced into swap markets. The Federal Reserve remains another risk, with BofA expecting 75 basis points of hikes between September and December 2026, against 35 basis points priced by markets. The brokerage expects primary market issuances worth $30 billion between September and December, following $36 billion raised year-to-date, with issuances likely to peak in October. BofA said high-frequency macro indicators point to a robust economy, while recent upgrades to macro forecasts and a 230-basis-point year-to-date cut in consensus FY27 earnings estimates suggest that earnings downgrades may have peaked. It expects Nifty earnings growth of 10 per cent in FY27 and 15 per cent in FY28.BofA has also reversed its preference for small and mid-cap stocks in favour of large caps, citing elevated valuations. However, it retained selective opportunities in the segment and highlighted stocks offering either value or strong earnings growth and visibility.AI disruption and its potential impact on Indian employment remain a structural risk, the brokerage added. 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.

Nifty may reach 26,200 by December 2026 as earnings cuts, market risks ease: BofA Securities
Asia
The Economic Times

Paytm, MobiKwik, Pine Labs shares rally up to 6% after govt announces UPI fees above Rs 2,000. Why brokerages are bullish

👉 UPI Continues to Remain Free for Peer to Peer Transactions and 96% of Merchant Transactions👉 The new UPI framework introduced has no impact on any person to person transactions👉 UPI will continue to remain completely free for all person-to-person transactions,… pic.twitter.com/lYVzehs6lU Four rules made HDFC Bank a compounder. All four have stopped. Can the new CEO rewrite them? Hormuz is a state, not a strait. There are 10 other possible chokepoints for the global economy, including India

Paytm, MobiKwik, Pine Labs shares rally up to 6% after govt announces UPI fees above Rs 2,000. Why brokerages are bullish
North America
Yahoo Finance

US Futures Steady as Oil Prices Ease and Markets Assess Broadcom Outlook: Dow Jones, S&P, Nasdaq, Wall Street

US stock futures were broadly unchanged as investors assessed developments in the US-Iran conflict, the interest-rate outlook and corporate updates ahead of Friday’s US labour market report. By 03:50 ET, S&P 500 Futures were unchanged at 7,671.1 points. Nasdaq 100 Futures were also little changed at 29,211.25, while Dow Jones Futures stood at 53,195. The moves followed a positive Wall Street session as US equities recovered from declines at the beginning of September. Attention remained focused on Friday’s labour market data and its potential implications for Federal Reserve monetary policy. Oil prices moved lower in Asian trading on Thursday after three consecutive sessions of increases as markets assessed developments in the US-Iran conflict. Brent crude futures declined 0.4% to $95.25 a barrel, while WTI crude futures fell 0.2% to $90.80. Both contracts had gained almost 1% on Wednesday and reached their highest levels in approximately five weeks. The decline followed comments from US President Donald Trump that renewed attacks on Iran would not last long. US officials also reported a recovery in energy flows through the Strait of Hormuz. Iran launched missile and drone strikes targeting US bases in Kuwait, according to a report from state-run Press TV late Wednesday. The Kuwaiti Armed Forces said its air defence systems were intercepting “hostile targets,” without identifying their origin. The reported attacks followed US strikes against targets in Iran near the Strait of Hormuz and subsequent Iranian drone and missile attacks against US infrastructure across the Gulf. Market participants continued to monitor the conflict and its potential impact on energy shipments through the Strait of Hormuz. New York Fed President John Williams said higher long-term bond yields reflected the strength of the US economy rather than inflation concerns. Williams told CNBC that increased borrowing costs were being driven by the economic outlook, supported in part by investment in artificial intelligence, data centres and technology.

US Futures Steady as Oil Prices Ease and Markets Assess Broadcom Outlook: Dow Jones, S&P, Nasdaq, Wall Street
Asia
The Hindu BusinessLine

Solar Industries acquires South Africa’s Omnia Holdings for $1.36 billion

Solar Industries stated the strategic rationale is to create a global platform for commercial explosives and blasting solutions, expanding its geographical footprint and enhancing technological capabilities. | Photo Credit: Kesavan A N 1612@Chennai Solar Industries India Limited announced on September 14, 2026 that its wholly owned step-down subsidiary, Solar SA Investments Proprietary Limited, has signed a definitive agreement to acquire 100 per cent of the issued ordinary shares of Omnia Holdings Limited, a Johannesburg-headquartered chemicals conglomerate, in an all-cash deal worth approximately US$1.355 billion (₹12,951 crores). The offer price is ZAR 134.5 per share. The acquisition triggered a sharp market reaction, with Solar Industries shares closing at ₹19,250 on September 15 on the NSE, down 13.64 per cent from the previous close of ₹22,290, wiping out a significant portion of market capitalisation in a single session. Omnia, incorporated in 1953 and listed on the Johannesburg Stock Exchange, operates across 23 countries and serves customers in over 40 countries through more than 70 distribution centres. It reported revenue of US$1.41 billion for the financial year ended March 31, 2026. Upon completion of the transaction, Omnia will be delisted from the JSE and A2X Markets. Solar Industries stated the strategic rationale is to create a global platform for commercial explosives and blasting solutions, expanding its geographical footprint and enhancing technological capabilities. Omnia’s mining segment, operating under the BME brand, brings expertise in bulk explosives, electronic detonation systems and mining chemicals. The transaction is subject to regulatory, statutory and competition approvals and is expected to close in early to mid-2027. Omnia shareholder approval is also required. Manish Nuwal, Managing Director and CEO of Solar Industries, described the deal as a milestone in the company’s ambition to become a global leader in explosives and blasting solutions. Solar Industries, established in 1995 and headquartered in Nagpur, operates manufacturing facilities across 11 countries and employs over 16,500 people globally. 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.

Solar Industries acquires South Africa’s Omnia Holdings for $1.36 billion
Asia
The Hindu BusinessLine

Informal scrap yards, paperwork gaps thwarting vehicle scrappage policy: Auto OEMs

Friction in customer documentation, an unorganized intermediary network, and a convenience deficit are hobbling India’s formal vehicle scrappage ecosystem, industry executives said on Tuesday, pitching Artificial Intelligence (AI) as the key driver to clean up the sector. Speaking at a panel discussion during the World Circular Economy Forum (WCEF) 2026 in Gujarat’s State capital Gandhinagar, leaders from Tata Motors and Mahindra & Mahindra outlined the operational bottlenecks holding back Registered Vehicle Scrappage Facilities (RVSFs). Highlighting the massive market size for domestic recycling, MS Anand Kumar, AVP and Head at TVS Motor Company, revealed that vehicles manufactured in India between 2005 and 2023 hold an estimated 98 million tonnes of recoverable steel. “AI has an opportunity in the Indian vehicle scrappage context. It is a fragmented industry with thousands of players, largely informal, and there is a large pool of vehicles on the roads that needs to be replaced,” said Prasad Phadke, Senior General Manager at Tata Motors Ltd. Despite scaling infrastructure — such as Tata Motors’ ‘Rewire’ network operating around 12 facilities with a capacity exceeding 2,00,000 dismantlings annually — formal centres struggle to attract end-of-life vehicles (ELVs). “Today there is greater inconvenience and hence reluctance from customers to come to a registered facility,” Phadke noted. “They probably end up scrapping at a nearby centre that is unregistered, does not ask for documentation, and does not operate in a systematic way.” Phadke detailed how AI can bridge these ecosystem gaps through a two-tiered model. He said AI algorithms can be used to locate ageing vehicles, deploy automated customer outreach, assist in retrieving missing paper trails, and automate government registry compliance. Similarly, on-site AI and vision systems can prioritise inbound vehicle streams, track stored components, and identify material compositions to unlock site efficiencies. Senthilkumaran Varatharajan, Senior General Manager at Mahindra & Mahindra, cautioned that circularity must begin on the drawing board. “If your product design does not have the sustainability element built into it, you have a disaster at hand when it comes to end-of-life,” Varatharajan said. He highlighted that data harvested by AI during dismantling — such as corrosion rates, reusable parts, and hazardous substances like brominated polymers or chromium — must be fed back into OEM design loops to extend product longevity and refine material standards. Varatharajan also pointed to severe supply constraints for recycled materials. “Today, with initiatives like Mahindra’s Cero, our entire year’s scrap collection can be consumed for just one component line, like door pads. The biggest question is whether circular materials will be available at scale. AI in dismantling networks can offer real-time data on supply quantity and quality,” he added. With all ecosystem players currently operating in silos, panelist consensus called for an AI-integrated data backbone to link owners, unorganised collectors, RVSFs, and automakers into a compliant, closed-loop economy. 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.

Informal scrap yards, paperwork gaps thwarting vehicle scrappage policy: Auto OEMs
Asia-Pacific
The Straits Times

DBS wants to be ‘Asian bank for Asians’ rather than global bank: CEO Tan Su Shan

The bank is investing in where it anticipates strong structural growth in Asia, including wealth management. SINGAPORE – DBS, South-east Asia’s largest bank, will pursue growth within Asia rather than seek to become a global bank, with chief executive Tan Su Shan identifying wealth management, capital markets and trade as regional bright spots. Asia “has a strong hand”, with growing capital markets, fast wealth creation, increasing trade, diversified demographics and strong artificial intelligence adoption, she said. “We’re not a global bank, and I don’t think you’ll see us becoming a global bank like a Citi or HSBC – we want to be an Asian bank for Asians,” she noted on Sept 11 at a fireside chat organised by the Singapore Press Club as part of its Eminent Speaker Series, presented by SPH Foundation. The bank is investing in where it anticipates strong structural growth in Asia, including wealth management. DBS has “come a long way” in growing its wealth-management business, but still maintains a large gap with UBS – the largest wealth manager globally, with more than US$7.3 trillion (S$9.25 trillion) in assets under management (AUM), Tan said. The Singapore bank, which is targeting $1 trillion in AUM by 2030, “still has a lot more to grow” in that aspect, she added. “But my view is, I’m not just going to help the very rich – I want to help the mass market too.” She also wants DBS to be front and centre of growth in Asian capital markets, while deepening relationships with financial institutions, pension funds, sovereign wealth funds and other institutional investors. “I do admire how they can create secondary markets in everything. Asset recycling is very fast and very mature, and they are also able to create diversification very quickly.” Expanded trading hours of the Nasdaq could make it more accessible for Asian investors to trade in US markets. “I hope it doesn’t mean that our Asian investors will be detracted from Asian markets and start trading only (in) the US,” she noted. At the same time, Asia should learn from US financial innovation and “should not be scared to create liquid markets here”, she added.

DBS wants to be ‘Asian bank for Asians’ rather than global bank: CEO Tan Su Shan