Latest Developments

Asia
The Hindu BusinessLine

Lord’s Mark Industries confirms conversion entitlement of 10.28 lakh shares

Lord’s Mark Industries, a diversified company with interest in healthcare, diagnostics, renewable energy besides printing and packaging, has resolved a legal dispute with Bennett Coleman and Co by formally confirming its entitlement to 10,28,483 equity shares at a conversion price of ₹158 per share. The dispute arose from BCCL’s petition under Section 9 of the Arbitration and Conciliation Act seeking interim reliefs relating to the conversion of warrants held under the Share Cum Warrant Subscription Agreement. The delay in conversion was due to LMIL’s ongoing merger and capital restructuring process, a complex but value-accretive exercise that involved the pre-packaged insolvency resolution of Kratos Energy and Infrastructure and its subsequent merger with LMIL, culminating in a BSE listing approval in May, said the company. The company formally confirmed the entitlement and committed to disclosing this to the Monitoring Committee overseeing the Resolution Plan’s implementation. The petition was subsequently withdrawn by BCCL, and the court disposed of the matter accordingly. “We will continue to undertake all necessary actions in accordance with applicable laws and our contractual obligations,” said the company in a statement. Pursuant to the amicable resolution reached between the parties, the petition filed before the Delhi High Court has been withdrawn, and the matter stands dismissed as withdrawn. 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.

Lord’s Mark Industries confirms conversion entitlement of 10.28 lakh shares
Asia
The Hindu BusinessLine

AI adoption in India outpaces global peers, boosting demand for observability: New Relic CEO

New Relic, the intelligent observability company, is betting heavily on India as both a strategic market and a talent hub, with the country leading its AI strategy, according to the company’s CEO. “India leads our AI strategy, which is broad. The software of the world is written here, which will continue. This is not just for Indian companies, but also GCCs. We want to be at the forefront in India because being successful here is a great way to capture the rest of the world,” Ashan Willy, CEO of New Relic, noted. He explained that there are two parts to the market for New Relic in India. The first is India as a market in itself, with many of the company’s customers being digital natives who are often ahead of the technology curve. “From a market standpoint, India is big, and we’re one of the leading observability players here,” Willy said. The second driver is the growing influence of GCCs, which are increasingly making observability decisions for US and European multinational companies. Observability has grown significantly over the past decade and is expected to become a $38 billion market by 2030, although Willy believes the market could become even larger as AI adoption accelerates. Among the sectors driving demand for New Relic are fintech, manufacturing, and retail, particularly quick commerce. However, Willy noted that the company’s customer base spans industries, making observability mostly horizontal. India’s quick commerce sector, in particular, presents a compelling use case for observability given the intense competition and reliance on seamless technology infrastructure. Willy noted that, unlike most global markets, Indian consumers have multiple alternatives available within minutes if a transaction fails. As a result, technology systems must work flawlessly across the entire delivery chain, making observability critical for ensuring uptime and customer experience. Moreover, growing concerns around hallucinations, prompt misuse, runaway token costs, and inaccurate responses are creating a significant opportunity for observability platforms. “With AI, we have seen a significant increase in the software being written. There are more production issues. Observability can give you an X-ray into what’s going on and help you fix it beforehand. It helps an organisation understand all the governance and compliance pieces of AI as well,” he said. Globally, North America remains a key market as enterprises continue to expand their digital operations. Europe, meanwhile, is beginning to move past regulatory hurdles that had slowed AI adoption, prompting more enterprises to invest in AI and observability.

AI adoption in India outpaces global peers, boosting demand for observability: New Relic CEO
North America
CNBC Finance

Fox to buy streaming device maker Roku for $22 billion

Fox Corp. has reached an agreement to acquire Roku for roughly $22 billion, marking another chapter in media consolidation as the industry grapples with several changes and challenges. On Monday Fox announced it would acquire Roku for $160 per share. Fox's stock was trading down about 13% in premarket trading, while Roku was up about 2%. The combination will bring together Fox's news and sports channels, as well as its free ad-supported streamer Tubi with Roku, the maker of streaming devices and also the home of The Roku Channel, a service similar to Tubi. The proposed acquisition comes about seven years after Fox's last major deal, when it shed its entertainment assets in a $71 billion deal with Disney. Since then, Fox's portfolio has primarily been made up of its TV channels, namely broadcast network Fox, which has been airing the FIFA World Cup since last week, and Fox News Channel on cable. In 2020 Fox acquired Tubi for $440 million. That service had long been its answer to the streaming wars, prior to the announcement of Fox One, its direct-to-consumer option that launched last year. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Fox to buy streaming device maker Roku for $22 billion
Asia
The Hindu BusinessLine

PSU banks see sharp jump in green deposits FY26; deploy funds for clean transport, renewable energy

State-owned lenders witnessed a sharp surge in green deposit mobilisation in FY26 amid increased depositors’ awareness and the maturation of the Reserve Bank of India’s (RBI) Green Deposit Framework, introduced in 2023. According to PTI’s analysis of banks’ annual reports for 2025-26, eight state-owned lenders raised ₹3,733.11 crore in FY26 through green deposits, compared to ₹1,831.79 crore in the year-ago period. The rise in green deposits reflects a growing focus among banks and depositors towards sustainable finance, with lenders increasingly linking their fundraising efforts with environmentally responsible lending, analysts said. State Bank of India (SBI), the country’s largest lender, raised ₹317.39 crore through its green deposit products till March 2026, with outstanding green deposits recorded at ₹218 crore as on March 31, 2026. SBI garnered ₹189.08 crore through green deposits in FY26, with the entire amount being deployed in clean transportation, particularly in green cars or electric vehicles, as per the bank’s annual report for 2025-26. “The amount of green deposit raised has been utilised for financing the Green Car (EV) Loan portfolio,” SBI said in its annual report. The bank said its green car loan portfolio stood at ₹3,587 crore as of March 31, 2026. Green deposit proceeds have been channelled into this portfolio to align the bank’s liability mobilisation and asset deployment strategies. Bank of Baroda raised ₹1,164.44 crore in FY26, compared to ₹1,083.09 crore in FY25. The bank deployed the entire funds in renewable energy. The lender, meanwhile, reported a green deposit portfolio of ₹1,899.12 crore as on March 31, 2026, as per its annual report for FY26. “The entire proceeds of the green deposit portfolio have been deployed into the renewable energy and clean mobility sector,” Bank of Baroda said in its annual report. Other state-owned lenders too mostly deployed green deposit proceeds towards renewable energy projects, solar initiatives and clean transportation, according to disclosures made in their annual reports. The RBI issued the Framework for Acceptance of Green Deposits on April 11, 2023, which came into effect from June 1, 2023. The framework provides a mechanism for banks to raise deposits and deploy the proceeds towards financing eligible green activities and projects.

PSU banks see sharp jump in green deposits FY26; deploy funds for clean transport, renewable energy
Asia
The Hindu BusinessLine

Broker’s Call: Computer Age Management Services (Buy)

We highlight CAMS as an excellent way to play the capital markets theme since non-MF businesses have reached harvest phase and will drive strong EBITDA growth the MF business will revert to normalised performance this year; and the margin outlook is positive. The share of non-MF businesses in overall revenue has risen from 13.1 per cent in FY24 to 14.4 per cent in FY26 The share of Alternates business has also inched up to 2.9 per cent. The outlook for the combined non-MF business is very healthy. MF revenue growth declined to 5 per cent in FY26. The normalised ratio of MF revenue growth to AUM growth declined to 26 per cent. This should not repeat in FY27. This was on account of weakness in equity markets. Employee cost growth declined to 6 per cent in FY26 due to employee count control. The company intends to improve its performance of employee count control in FY27, which will be aided by the re-architecture being carried out. The market share for CAMS in total MF industry AUM has remained broadly stable at 67.6 per cent in FY265. The market share in MF industry equity AUM has also remained broadly stable at 66.4 per cent. The market share for CAMS in live SIPs has increased to 64.2 per cent in FY26. 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.

Broker’s Call: Computer Age Management Services (Buy)
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
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
North America
CNBC Economy

UK economy shrank 0.1% in April as Iran conflict weighed on growth

The U.K. economy shrank by 0.1% in the month to April, figures published on Friday showed, as the impacts of the Iran war continue to hamper growth. A 0.2% contraction in services activity was cited as the main driver of the negative growth, with officials saying it had been partly offset by a 0.1% rise in construction output. Production output showed zero growth for the month. Economists polled by Reuters had been expecting the British economy to contract by 0.1% month-on-month. April's print followed growth of 0.3% in March, 0.4% in February and no growth in January. One of the biggest contributors to the decline in services came from a fall of 9.1% in sports, amusement and recreation activities. The Office for National Statistics (ONS) said that this was the largest negative contribution from a single industry to both services output and real GDP growth. Some of the sector's decline was attributed to the war, with the ONS noting that the cancellation of various sporting events in the Middle East had affected the output of U.K.-based companies. Companies operating in the manufacturing, wholesale, transportation support, and travel agencies said that the conflict in the Middle East had contributed to reduced turnover in April. "A common theme of the comments received was the increase in prices because of the Middle East conflict," the ONS said. "These comments were mainly for energy and fuel costs, with some suggesting an impact seen in April 2026 and also suggesting an impact for future months." Suren Thiru, chief economist at the Institute of Chartered Accountants in England and Wales, said the data made a rate cut from the Bank of England next week unlikely, with the GDP decline signaling a "damaging descent into stagflation." "This decline is the first economic blow landed by the Iran conflict as falling fuel sales and slowing services output meant the U.K.'s early-year growth momentum stalled in April," he said. "Skyrocketing fuel costs have noticeably altered the U.K.'s growth trajectory having flipped from a tailwind to growth in March to a headwind in April as motorists cut consumption in the face of surging pump prices, after frontloading purchases in March." The U.S.-Iran war, which recently crossed the 100-day mark, has sparked supply constraints in global energy markets, prompting a resurgence of inflation.

UK economy shrank 0.1% in April as Iran conflict weighed on growth