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Europe
BBC Business

ITV sells media and entertainment arm to Sky for £1.6bn

Image source, Getty ImagesByFaarea MasudBusiness reporterPublished6 July 2026, 07:53 BSTUpdated 1 hour agoITV is selling its media and entertainment divisions to Sky in a £1.6bn deal that the companies say will create a strong rival to global streaming giants. The sale includes ITV's broadcast channels and its ITVX streaming service, with Sky's chief executive Dana Strong calling it "a defining moment for British media". It is one of the biggest takeovers in British media history, with American-owned Comcast - which owns Sky - having started takeover talks in November last year. ITV's studio arm, which makes popular programmes such as Love Island and I'm a Celebrity... Get Me Out of Here, is not included in the deal. The deal means Sky will get access to millions more viewers, and as well as scale and prominence on a free-to-air platform. Viewers are unlikely to notice any difference initially. The takeover will not lead to ITV's shows being moved behind a paywall for now as ITV is required by law to provide a free-to-air service until at least 2034 under its public service broadcasting licence. In a statement, Sky Group said there would be no immediate change to popular shows. "The UK media market is undergoing a profound and rapid transformation, and as competition for audiences intensifies, scale matters more than ever in order to compete with global streaming giants and YouTube in the UK," Sky said . "Viewers will continue to enjoy the shows they know and love, such as Coronation Street, Emmerdale, Love Island, I'm a Celebrity... Get Me Out of Here!, This Morning, Loose Women, Lorraine and News at Ten – alongside major live sporting events." Former ITV chairman Sir Peter Bazalgette, who owns shares in ITV, said the deal was "essential" for the survival of the broadcasters. "If we don't see consolidation between domestic broadcasters, we won't have any in 20 years time and it's the same for all the European countries because of the competition from the streamers," he told the BBC's Today programme. "It's a good deal for viewers because it sustains, will sustain, ITV's investment – as its obligations are as a public service broadcaster – in international news, national news, regional news and all the programmes that its viewers love", he said.

ITV sells media and entertainment arm to Sky for £1.6bn
Asia
The Hindu BusinessLine

Sensex jumps 521 points, Nifty closes above 24,400 on banking, realty gains

Equity benchmarks ended higher for the fourth straight day on Monday, led by strong buying in blue-chip banking, realty and defence counters amid subdued crude oil prices, easing geopolitical tensions and growing expectations of a less hawkish stance from the USFederal Reserve. Asian and European markets showcased mixed trends. “The calmness in the West Asia region and hopes for a relatively steady corporate earnings season kept investor mood optimistic, although overall sentiment remains cautious,” Ankur Punj, MD & Business Head at Equirus Wealth, said. According to Vinod Nair, Head of Research at Geojit Investments, continued softness in crude prices would support inflation, the current account balance, oil marketing companies’ profitability, and overall macro stability. He noted that financials gained on expectations of healthy private bank earnings, autos benefited from strong volume trends and improving demand outlook, while realty remained supported by resilient housing demand. BSE Sensex rose 521.16 points, or 0.67 per cent, to close at 78,285.07, after hitting an intraday high of 78,398.06. NSE Nifty 50 gained 159.50 points, or 0.66 per cent, to settle at 24,430.35. In the last four trading sessions, both the benchmarks have gained over 2 per cent each. The broader market also participated in the rally, with both the Nifty Midcap 100 and Nifty Smallcap 100 ending in positive territory. On the sectoral front, realty, consumer durables, auto and oil & gas outperformed, while media, PSU banks, IT and cement closed lower. Defence stocks outperformed after the Defence Acquisition Council approved capital acquisition proposals worth ₹52,000 crore. Zen Technologies, Dynamatic Technologies, Paras Defence and Data Patterns outperformed. In the midcap segment, Dixon Technologies, Radico, Hitachi Energy and GE Vernova T&D gained between 3 per cent and 7 per cent. Groww, MCX, Bank of India, Suzlon and Bank of Maharashtra were among the top losers. In the small-cap space, Swan Corp, Manappuram Finance, Welspun Corp and Aegis Logistics advanced, while Zensar Technologies, Ola Electric and Pine Labs weighed on the index. Market breadth remained neutral. A total of 3,462 stocks were traded on the NSE, of which 1,578 advanced, 1,769 declined, and 115 remained unchanged. 146 stocks reached 52-week highs, and 41 hit 52-week lows. In addition, 114 stocks hit the upper circuit and 99 hit the lower circuit. Abhinav Tiwari, Research Analyst at Bonanza, said management commentary, future guidance, crude oil prices, foreign investor flows and global interest rate expectations are likely to drive market direction. He added that until earnings provide greater clarity, stock-specific movements are expected to dominate.

Sensex jumps 521 points, Nifty closes above 24,400 on banking, realty gains
Asia
The Hindu BusinessLine

Engineers from 4 countries & India’s young workforce help launch CG Semi’s OSAT facility in Gujarat

More than 75 engineers packed their bags and relocated to Gujarat from the Philippines, South Korea, the United States and Malaysia to help build CG Semi’s ₹7,500-crore Outsourced Semiconductor Assembly and Test (OSAT) facility at Sanand. On Saturday, Prime Minister Narendra Modi inaugurated the plant, making it only the third semiconductor facility in India to commence commercial production in the past five months. On the shop floor, these engineers now work alongside young women from Chhattisgarh, Jharkhand, Madhya Pradesh, Gujarat, Jammu & Kashmir and Kerala, many of whom had never stepped outside their villages before travelling to Malaysia for specialised semiconductor training. Together, they embody two ends of India’s semiconductor story—global expertise flowing into the country and a first-generation manufacturing workforce being trained to produce chips destined for markets across Japan, the United States and Europe. “Over 75 of our colleagues moved to Gujarat from the Philippines, South Korea, the United States and Malaysia. They came here not merely to build a factory but to help build India’s capability,” said Vellayan Subbiah, chairman of CG Power and Industrial Solutions Ltd, whose subsidiary CG Semi has developed the facility in partnership with Japan’s Renesas Electronics and Thailand’s Stars Microelectronics. For Subbiah, the project’s significance lies as much in capability-building as in manufacturing. “It is deeply symbolic that our first shipment is going to global customer Renesas Electronics, our Japanese partner,” he said. “Our partner Renesas taught us what being truly world class means. Their qualification standards were tough. Very tough. By meeting those standards, we not only earned the trust of our customers but also confidence in what advanced Indian manufacturing is capable of achieving,” he added. The chips packaged at the Sanand plant will find their way into automobiles, scooters and industrial equipment before being exported to Japan, the United States and Europe, Union Electronics and IT Minister Ashwini Vaishnaw said. The minister also highlighted the workforce behind the facility. “Daughters from Chhattisgarh, Jharkhand, Madhya Pradesh, Gujarat, Jammu & Kashmir and Kerala will be working as operators at the plant. Some of them stepped out of their villages for the first time and went to Malaysia for training,” he said. Spread over 75,000 square feet, the newly inaugurated facility has the capacity to package about 300 million semiconductor units annually. Right next to it, a second plant spanning nearly one million square feet is already under construction and is expected to increase capacity to four billion units a year. For PM Modi, the plant is also evidence of a semiconductor ecosystem beginning to take shape. Within months of Micron Technology, Kaynes and now CG Semi commencing commercial production in Sanand, the region is beginning to resemble the manufacturing clusters that transformed countries such as Taiwan, South Korea and China. “Step by step, brick by brick and chip by chip, the Semicon India programme is catching pace,” the Prime Minister said, adding that semiconductor clusters eventually attract suppliers of chemicals, testing laboratories, equipment service companies, chip designers and startups. Modi said the back-to-back commissioning of semiconductor facilities by Micron, Kaynes Semicon and now CG Semi in Sanand marks the emergence of a semiconductor manufacturing cluster in India. Such clusters, he said, create a multiplier effect by attracting suppliers of specialty chemicals, testing laboratories, equipment maintenance companies, chip design firms and startups, gradually building an integrated semiconductor ecosystem rather than standalone manufacturing units. “Today chips are being packaged here; tomorrow specialised companies will come... This is the strength of a cluster,” he said. CG Semi’s facility adds to the rapid build-out of Gujarat’s semiconductor ecosystem under the India Semiconductor Mission. The state has secured six major semiconductor projects involving investments of about ₹1.24 lakh crore. Besides CG Semi, Micron Technology and Kaynes Semicon have already commenced commercial production at their OSAT facilities in Sanand, while Suchi Semicon’s pilot OSAT plant is operational in Surat. Tata Electronics is constructing India’s first commercial semiconductor fabrication (fab) facility at Dholera, and Crystal Matrix has received approval to set up the country’s first commercial mini and micro-LED display fabrication and packaging unit at Dholera SIR. 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.

Engineers from 4 countries & India’s young workforce help launch CG Semi’s OSAT facility in Gujarat
Europe
BBC Business

Three things you can do to stop EU border checks at the airport costing you

ByKevin PeacheyCost of living correspondentPublished4 hours agoIf you're heading to Europe this summer you need to be prepared for queues caused by the EU's new border control system - or it could end up costing you more money. UK travellers have to register fingerprints and a photo when you scan their passport as part of the Entry/Exit System, or EES. The extra time this takes, as well as some technical glitches, have meant long delays at some airports. Some holidaymakers have missed their flights and had to pay for another ticket. Here are three things experts say you must do before you travel to Europe to avoid any additional costs as a result of the new checks. Building in plenty of time to check in and complete the EES registration steps will help you to avoid missing your flight. The UK boss of budget airline Wizz Air told the BBC that British holidaymakers should arrive at European airports three hours before their flight home departs. Other airlines such as Jet2 and Ryanair have suggested the same, depending on the airport. However, Eurostar advises passengers to arrive at the station at the recommended time stated on your ticket, external as it already takes EES steps into account. At the Port of Dover, technology issues have prevented the new system from being used. It is advising passengers to arrive no more than two hours before their ferry departure. It warned arriving too early could cause queues to build up. Top tip: Check arrival time advice with your airline, ferry or rail company in advance and build in your travel from home. Airlines and travel providers will send out messages to let passengers know of current waiting times and any changes so it's important you are signed up to receive them. "Airlines typically notify passengers of significant delays. We also advise passengers to always check directly with their airline before heading to the airport to allow enough time for security checks and reaching their departure gate," the Civil Aviation Authority says. Most airlines have an app you can download in advance to receive alerts and it's also worth checking you're signed up to get texts and that emails don't go into your junk folder.

Three things you can do to stop EU border checks at the airport costing you
Europe
BBC Business

Backlash after China bubble tea firm ordered to pay Louis Vuitton $1.5m

Chinese media reported last week that a court in the eastern Jiangsu province ruled that the Shenzhen-based tea company had copied Louis Vuitton's iconic four-petal flower monogram trademark. The decision has divided the public online in China, with a hashtag linked to the case drawing more than 400 million views and tens of thousands of comments. On Thursday, a court in Suzhou, just east of Shanghai, ordered Molly Tea to stop using of the logo, issue a public apology and to pay damages to Louis Vuitton, according to Chinese state media China Daily. The outlet also said that Molly Tea and its affiliated firms had applied for multiple trademarks that were rejected by the China National Intellectual Property Administration. Only the trademark containing the Chinese characters for "Molly Tea" was successfully registered, China Daily reported. Many Chinese social media users have defended the design of Molly Tea's logo, noting how many designs used in Western luxury brands have been inspired by Chinese artefacts. One commenter on the Weibo platform wrote in Mandarin that he will "drink a cup of Molly Tea daily" to show his support for the company. "Give me a break. They're just taking advantage of the fact that our ancestors didn't file for patents," the commenter wrote. One user on RedNote, another Chinese social media platform, said: "Such basic geometric shapes have been used everywhere throughout history, not just China." A Weibo user said that those who back Molly Tea's design should "study law first", arguing that there is no dispute as Louis Vuitton had already registered the trademark. Another said Louis Vuitton is justified in defending its intellectual property and that other brands do not have the right to imitate it, regardless of their industry.

Backlash after China bubble tea firm ordered to pay Louis Vuitton $1.5m
North America
CNBC Economy

U.S. job creation cools in June with payrolls growth of just 57,000; unemployment rate at 4.2%

The U.S. economy saw job creation cool sharply heading into the summer, the Bureau of Labor Statistics reported Thursday. Nonfarm payrolls for June increased by a seasonally adjusted 57,000 for the month, slower than the downwardly revised 129,000 added in May and worse than the 115,000 Dow Jones consensus forecast. The unemployment rate, however, dropped to 4.2%, slightly ahead of the 4.1% where it was a year ago. The move lower was largely due to a slump in the labor force participation rate, which dropped 0.3 percentage point to 61.5%, the lowest since March 2021. Household employment plummeted during the month, with 507,000 fewer people reported at work. A broader unemployment measure that includes discouraged workers and those holding part-time jobs for economic reasons declined by 0.2 percentage point to 7.9%. Prior months also saw significant downward revisions — the May total, which had been much stronger than economists had anticipated, was cut by 43,000, while April's figure came down 31,000 to 148,000 as the report showed labor market growth significantly slower than previously thought. Average hourly earnings rose 0.3% for the month and 3.5% from a year ago, both in line with the consensus forecasts. Professional and business services contributed the most, with a gain of 36,000. Social assistance added 25,000 and healthcare employment rose by 22,000, a slower-than-normal pace for the industry. Government jobs rose by 8,000. However, leisure and hospitality reported a loss of 61,000 jobs, which the BLS said reflected slower-than-usual seasonal hiring. There had been speculation that the World Cup might provide some boost to the payroll numbers, with Goldman Sachs estimating a gain of 40,000. Stock market futures rose following the report as traders eased expectations for an interest rate increase as soon as September. Treasury yields were negative, with the policy-sensitive 2-year yield down 3.5 basis points to 4.13%. "The slowdown in payroll growth challenges the narrative of renewed labor market strength that has been building in recent months but, importantly, reinforces the view that the Federal Reserve is under little pressure to tighten policy," said Seema Shah, chief global strategist at Principal Asset Management. The report comes with Federal Reserve policymakers expressing mixed feelings about the economy – mostly positive on growth though apprehensive on inflation as earlier fears about weakness in the labor market have eased. However, the weak report Thursday could change the labor market view. In an appearance Wednesday, Fed Chairman Kevin Warsh called the jobs picture "steady" as he continued to emphasize the importance of bringing inflation down to the central bank's 2% target. Inflation has been running north of that goal for the past five years, with the most recent surge in part due to the Iran war and ongoing impacts from tariffs.

U.S. job creation cools in June with payrolls growth of just 57,000; unemployment rate at 4.2%
Asia
The Hindu BusinessLine

Mumbai Weather & Rains Live: Red alert for parts of Maharashtra; 13 killed in last 3-4 days, says minister

Mumbai weather today, Mumbai rains live news updates: The India Meteorological Department (IMD) on Monday issued a ‘red’ alert for Mumbai, Thane and Raigad districts, forecasting heavy to very heavy rainfall accompanied by strong winds and appealed to people to avoid unnecessary travel. The MeT office upgraded the warning from ‘orange’ to ‘red’ alert in the morning after observing changes in weather conditions. It also predicted occasional strong winds gusting up to 70-80 kmph over the region. The neighbouring Palghar district has been placed under an ‘orange’ alert, with a forecast of heavy to very heavy rainfall at a few places and occasional strong winds of 70-80 kmph. Disaster Management Minister Girish Mahajan said Mumbai and neighbouring Palghar and Raigad districts have witnessed a record-breaking rainfall, and 13 persons were killed in rain-related incidents in the last three to four days. The rains have also caused widespread waterlogging, rail and road traffic disruption and the uprooting of hundreds of trees. Five flights headed to Mumbai were diverted due to heavy rain and bad weather as relentless rainfall continued to disrupt airport operations and normal life. Heavy rain disrupts Western Railway services, stranding over 20 long-distance trains and affecting 40+ train operations in Mumbai. Heavy rains in Chhattisgarh cause river flooding and disrupt life; IMD warns of continued extreme rainfall. Heavy rain and severe waterlogging paralysed Western Railway operations on Monday, leaving more than 20 long-distance trains stranded across various stations in Mumbai and south Gujarat, as tracks remained submerged. As more than 40 train services were affected by cancellations, diversions, and delays, railway authorities scrambled to assist stranded passengers and worked to restore connectivity on the Mumbai-Ahmedabad trunk route. According to Western Railway officials, train services were severely hampered by waterlogging, particularly between the Vasai Road-Virar and Saphale-Palghar sections. As of 1.50 pm, at least 22 long-distance trains were being regulated at various stations, including Virar, Vangaon, Palghar, Dahanu Road, and Valsad, they said.

Mumbai Weather & Rains Live: Red alert for parts of Maharashtra; 13 killed in last 3-4 days, says minister
Asia
The Hindu BusinessLine

WhatsApp gets more time to respond to Centre over username feature

Meta-owned WhatsApp has been given three more days to respond to the Centre’s notice over its proposed username feature and has assured the government that it will not roll out the feature in India until consultations are completed. | Photo Credit: Dado Ruvic Meta-owned WhatsApp has been granted more time to submit its response on the contentious ‘username’ feature and assured the government that it will not roll it out in India until discussions are complete, according to sources. The popular messaging platform has been given three more days to file its reply to the government notice on the controversial feature as it sought more time to submit its response, sources told PTI. The username feature essentially allows people on the messaging platform to communicate without sharing their phone numbers. Last Wednesday, the Centre issued a notice to Meta questioning the planned username feature on WhatsApp, flagging concerns that it could materially increase online fraud, phishing, digital arrest scams, and impersonation attacks. It directed the platform to pause the feature until consultations on the issue are completed “to the satisfaction of the Government”. Sources said WhatsApp has been given three more days to submit its reply to the IT Ministry. The original deadline for submission was Friday. According to sources, the platform has also assured the government that it will not roll out the feature till the discussions are complete. A team from Meta met officials in the IT Ministry last Friday, following the notice summoning them. In the notice, the Centre had asked Meta to explain why action shouldn’t be initiated under the IT Act and rules over WhatsApp’s new feature that may increase cybercrimes. The government also reminded Meta that WhatsApp, as a significant social media intermediary, is bound by due diligence obligations under the IT Act and rules. A WhatsApp spokesperson, last week, said that the ability to use a username is not yet live and will roll out slowly later this year.

WhatsApp gets more time to respond to Centre over username feature
Asia
The Hindu BusinessLine

Vayona Energy begins blade manufacturing operations at its Nellore facility in AP

Vayona Energy commenced blade manufacturing operations at its Nellore facility in Andhra Pradesh. The company is also set to scale-up manufacturing capacity and enhance operational capabilities at the blade facility to support future growth. The Nellore facility is poised to become a key manufacturing hub, supporting Vayona’s growth ambitions, advancing its technology roadmap, and reinforcing its commitment to the ‘Make in India’ mission. “The expansion of the Nellore facility strengthens our manufacturing footprint and demonstrates our long-term commitment to building world-class, locally integrated capabilities in India,’’ Prashant Jain, Executive Vice Chairman, Vayona Energy said in a release on Monday. Pritesh Vinay, Chief Executive Officer, Vayona Energy said: “The Nellore blade plant, together with our Mamandur nacelle facility, is a decisive step in building a fully integrated world class manufacturing base in India, for current as well as next generation of products.’’ Vayona’s manufacturing footprint in India will enable the company to accelerate delivery timelines, strengthen supply chain resilience, and support India’s transition towards sustainable energy solutions, the release added. The upgraded facility will produce blades for Vayona’s 3X platform and future-generation products. Investments will be phased through 2027, covering molds and supporting infrastructure required for blade manufacturing. The plant is expected to create around 1,500 jobs, supporting local economic growth and reinforcing the regional manufacturing ecosystem. 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.

Vayona Energy begins blade manufacturing operations at its Nellore facility in AP