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Europe
BBC Business

Airport drop-off fees up by a third - here are the priciest

Drop-off fees at the UK's major airports have risen by a third on average since last summer, new analysis has found. The RAC looked at the cost of pulling up at the closest point to terminals at the 20 busiest airports - 16 had put up their fees since last year. Trade body Airports UK said free drop-offs were available and fees were part of airports' business models and climate change objectives. London Gatwick's is the highest "farewell fee", charging £10 for 10 minutes on the forecourt outside either of its terminals. At Stansted, £10 buys a more generous 15 minutes, at "Express Set Down" outside departures. London City Airport, which only started making people pay this year, is the most expensive on a per-minute basis. Its £8 charge for five minutes works out at £1.60 per minute. In contrast, none of the top 10 airports in the EU charge for drop-offs, according to RAC research. The RAC acknowledged UK airports generally offered other options for dropping people off at locations further from the terminal, sometimes with free shuttle buses. But the motoring organisation's senior policy officer Rod Dennis said "having a captive audience should be no excuse for these 'farewell fees' – especially when they're completely at odds with how major airports around the world operate." He said drivers needed to be especially careful of barrierless 'park now, pay later' drop-off zones, as they could face a parking charge notice if they failed to pay online or by phone within a certain period of time. Gatwick's price hike comes as the airport tries to get more people arriving by trains and buses. When the Transport Secretary approved the airport's plans for a second runway, one of the requirements was to have 54% of passengers using public transport. Heathrow may also have to act to try and put people off driving to get a third runway.

Airport drop-off fees up by a third - here are the priciest
Asia
The Hindu BusinessLine

Q1 Results Today LIVE: Infosys, Mphasis, IndiGo, Cipla, Meesho, Cyient, PVR INOX, IEX, VMM to announce Q1 results today, Eternal, Nestle, Adani Power, AGEL, Tata Comm, BPCL, HPCL, Dr Reddy's, IndusInd shares in focus

Follow our Stock Market LIVE Updates for Sensex, Nifty, sectoral movers and earnings-driven stock action. Infosys Q1FY27 preview indicates steady growth driven by acquisitions, yet mixed full-year outlook raises concerns among brokerages. Eternal shares rose 2.4% on the NSE to Rs 291.35 before trading flat at Rs 284.70 at 9.22 am. It reported a consolidated net profit of ₹92 crore in the June quarter Sensex traded 357.83 pts or 0.47% lower at 76,397.22 at 9.17 am after opening at 76,515.10 from the previous close of 76,755.05; Nifty 50 fell 101.30 pts or 0.42% to 23,894.95 Revenue from operations for Q1 FY27 stood at Rs. 924.25 crores a growth of 53.23% YoY Strong unexecuted orderbook of Rs. 5,300+ crores underpins sustained revenue visibility July 22, 2026, Mumbai: Waaree Renewable Technologies Limited(WRTL), the EPC arm of the Waaree Group, stands among the leading players in the EPC and T&D space. Beyond its core renewable EPC business, WRTL has been expanding its capabilities across adjacent segments. The recent acquisition of Associated Power Structures Pvt. Ltd. (APSPL) strengthens the company’s presence in the transmission and distribution (T&D) space. Company is also actively pursuing EPC opportunities in Battery Energy Storage Systems and Data Centre. These steps reflect WRTL’s effort to build a broader and more integrated presence across the clean energy value chain. It has announced its unaudited financial results for the quarter ended on June 30, 2026. • HFCL’s Board has approved setting up a state-of-the-art manufacturing facility for Data Center Connectivity Products with an annual capacity of 2.7 lakh assemblies at an estimated capital outlay of ₹215 crore. • The investment is driven by the surging global demand for AI, hyperscale data centres, cloud computing, high-performance computing and high-speed networking, creating significant business opportunities in domestic and international markets. * The facility will manufacture Miniature Multi-Fiber (MMC) and Super High-Density Multi-Fiber Termination (SNMT) assemblies used in high-speed data centres and AI infrastructure and is expected to be commissioned by September 2027. * The project will be funded through an appropriate mix of internal accruals and debt and is expected to strengthen manufacturing capabilities, expand exports, support import substitution and reinforce HFCL’s position in next-generation optical connectivity solutions. Headline results: Continuingrevenue, EBITDA, and PAT growth of +28%, +40% and +42% was +18%, +25%, and +36% vs. our estimates and +19%, +25%, and 34% vs. the Street. Adjusted PAT beat vs. our forecast was driven by lower interest costs and higher associate income.

Q1 Results Today LIVE: Infosys, Mphasis, IndiGo, Cipla, Meesho, Cyient, PVR INOX, IEX, VMM to announce Q1 results today, Eternal, Nestle, Adani Power, AGEL, Tata Comm, BPCL, HPCL, Dr Reddy's, IndusInd shares in focus
Europe
BBC Business

What does an Andy Burnham-led government mean for your money?

Image source, Getty ImagesByKevin PeacheyCost of living correspondentPublished20 July 2026Updated 18 minutes agoIn one of his first moves as Prime Minister, Andy Burnham has announced that VAT will be cut from household electricity bills, as part of his pledge to help with the cost of living. Burnham, in his first speech as prime minister, promised to give people more "breathing space" to help with their finances. Cost of living is a key issue for the new PM. Many people, he has previously said, can't go out for a pint on a Friday, can't take the kids out and can't go on holiday owing to the pressure on their finances. The cost of living has dominated people's lives in recent years, and - to some extent - our politics too. Easing that pressure hasn't been easy. If Burnham plans more support in the form of transport costs and allowing people to earn more before being taxed, and makes care and somewhere to live more affordable, he'll face tough choices on funding those moves and managing the trade-offs that come with them. And his new chancellor, John Healey, will be the one who has to deliver any changes, and outline how to pay for them. A prime minister saying every minute not talking about the cost of living is "a wasted minute". A chancellor saying it is the "number one focus". However, these words weren't spoken by the incoming PM and chancellor, but by Sir Keir Starmer and former chancellor Rachel Reeves - and only in January this year. They removed £150 from a typical annual domestic energy bill in April, by cutting some levies and moving others onto taxation. But, those bills soon went up again, as did the cost of food and mortgages, owing to the impact of the US-Israeli strikes on Iran. Events can have an instant and extreme impact on the best-laid plans. "A more volatile world is a more expensive world," says Adam French, of the financial information service Moneyfacts. The government has announced it is cutting VAT on domestic electricity bills from 5% to zero from 1 October, which it says will save a typical household about £45 a year.

What does an Andy Burnham-led government mean for your money?
Europe
BBC Business

Most bus fares in England to be capped at £2 from January

Image source, Getty ImagesByKaty AustinTransport correspondentPublished22 July 2026, 06:37 BSTUpdated 16 minutes agoThe bus fare cap in England will revert to £2 from January, new prime minister Andy Burnham has announced. The government says the policy, which is expected to cost more than £500m, will "help with the cost of living and give people the breathing space they need". In January 2025, the England-wide bus fare cap rose to £3 under Sir Keir Starmer's Labour government, although Liverpool and Manchester are examples of city regions where fares have been held at £2. Burnham said affordable transport links were an essential, adding: "Lower fares will help people get to where they need to." Transport secretary Heidi Alexander told the BBC's Today programme the measure gives people "a little bit of hope" in a time when many are grappling with higher living costs - especially after fuel costs spiked as a result of the US-Iran war. The new cap will take effect from 1 January 2027 for fares on participating buses outside of London. The Burnham government said going back to a £2 cap should particularly help passengers in rural and coastal areas, where single fares can be higher. Public services in Northern Ireland will also get a small amount of additional money, though ministers will not be obliged to spend the money on public transport. The exact amount will not be known until the autumn budget. Earlier this month Translink, Northern Ireland's public transport company, said it would have to make cuts to services due to budget pressures. While a lower fare cap is welcome, the Campaign for Better Transport said rural areas were still suffering from fewer bus routes and services, adding that such areas had been more affected by council cut backs in the last decade than urban zones. The County Councils Network, which represents 39 unitary and county councils across England, said that bus services in those areas - as measured by vehicle miles - decreased by 18% between 2019 and 2024, which it said was the biggest decline in England. The Campaign for Better Transport's Michael Solomon Williams said: "What we need to see is the replacing of those lost services which have particularly affected those in rural areas".

Most bus fares in England to be capped at £2 from January
Europe
BBC Business

Former Lloyd's of London boss's relationship breached rules, firm says

Lloyd's of London's former boss's close relationship with another director breached compliance rules, the insurance market has said after an internal investigation. Former chief executive John Neal and former corporate affairs director Rebekah Clement's relationship was "sufficiently close... that it could be viewed as creating a perceived conflict of interest", the firm said. Lloyd's said the pair breached compliance rules by not disclosing their relationship but found no conclusive evidence they had a romantic relationship while at Lloyd's. Neal said all parties can now move on. Clement's lawyer said she is considering legal action. "Rebekah is hugely disappointed with Lloyd's conduct over the course of this investigation, the nature and length of which have caused her unnecessary stress and significant reputational damage relative to its 'findings'," Clement's lawyer added. "She is not surprised that Lloyd's found no evidence of an inappropriate relationship with John Neal, nor any evidence of any failings in her promotion. She also co-operated with the investigation throughout. "Yet, Lloyd's has still chosen to find against Rebekah, on the pretext of 'perception', the source of which was rumour, gossip and innuendo." Neal said: "I am pleased, but not at all surprised, that the investigation found there was no inappropriate relationship. "I would have hoped less time and resource had been spent in reaching a conclusion on the central question that was, in truth, never in doubt. Lloyd's said on Wednesday that it first received "certain whistleblowing reports" in November 2023 but that it didn't act on them. It said its chairman Sir Charles Roxburgh judged this to be a governance failure and informed the Financial Conduct Authority (FCA) about it in October 2025. Lloyd's said it could not share the nature of these allegations or the identities of the people involved.

Former Lloyd's of London boss's relationship breached rules, firm says
Europe
BBC Business

I travel four hours on a bus per day - the bus fare cap will save me £500 a year

The wool shop owner says she travels about four hours from Bedworth in Warwickshire to Leamington Spa and back, six days a week. Sarah says she endures the long travel time as she loves running her shop. "It makes me happy," she says. But the cost of getting there comes to £58 per week, or more than £3,000 per year, she says. That will change when a newly-announced cap on most single bus fares comes into force in England in January, which Sarah says will enable her to save £500 a year. After announcing the scheme, Prime Minister Andy Burnham said no-one should be "priced out" or "left behind" when it comes to affordable transport links. Like Sarah, another who thinks it will improve his quality of life is Charlie in Bristol. The 24-year-old, who lives on the city's outskirts, said capping bus fares would mean he'd be more likely to travel into the city centre on weekends. "It's not going to completely revolutionise life for anyone, but it might be the difference between me deciding against going to do something in town on a whim that might be a bit smaller, because again it adds up if you're doing that a few times a week, it can add up and it can make a difference," he said. However Holly Haines, who lives in a rural part of Hereford near the England-Wales border, said the cap would have no impact on her bus travel as the service she uses is provided by a Welsh company. Image source, Holly HainesImage caption, Holly Haines bus journey on the Wales-England border costs at least £4.20 She said that despite the current £3 bus cap in England, a single on her bus costs at least £4.20, despite the journey being "entirely in England". "Whilst I would love for other people to benefit from the £2 capped fare... I find it hard that I will not be able to benefit from it," she said.

I travel four hours on a bus per day - the bus fare cap will save me £500 a year
North America
CNBC Finance

Paramount and Warner Bros. merger hit with temporary restraining order

Paramount Skydance's proposed acquisition of Warner Bros. Discovery hit its first official roadblock when a judge granted a temporary restraining order on the merger as part of a lawsuit brought by state attorneys general. California District Judge Araceli Martínez-Olguín signed off on the order Monday after hearing arguments from both sides in an Oakland courtroom on Friday. The order puts a 14-day pause on anything moving forward with the merger. Last week, a group of state attorneys general led by California's Rob Bonta filed a lawsuit seeking to block the $110 billion acquisition due to antitrust concerns. The proposed deal would unite the storied film studios of Paramount and Warner Bros, the CBS broadcast network, a sprawling portfolio of pay TV networks that includes CNN, TNT, MTV and BET, and streaming services Paramount+ and HBO Max, under one roof. In a statement Monday, a Paramount spokesperson said the company is "confident the evidence will demonstrate that the State AGs' antitrust arguments are without merit as their alleged markets and claims of anticompetitive effects are without any basis in modern market realities." "This merger is lawful, pro-competitive, and will benefit consumers, creators, workers, and the entertainment industry. We will continue to vigorously defend the transaction and will look forward to the hearings on the substance of the State AGs' action," according to the statement. The lawsuit said the proposed deal would violate the Clayton Antitrust Act — a more than 100-year-old law that prohibits anticompetitive mergers and acquisitions. The lawsuit was brought by a group of states that also includes Arizona, Colorado, Connecticut, Massachusetts, Minnesota, Nevada, New Jersey, New Mexico, New York, Oregon and Washington. In Monday's order, Martínez-Olguín said the coalition of state attorneys general presented "compelling evidence that the combined firm resulting from the transaction will possess substantial market share in the wide-release theatrical distribution market." Paramount's lead trial counsel, Jeffrey Kessler, said on CNBC last week that the TRO was filed after Paramount indicated its intention was to close the deal as early as July 22, when the company expects to have all regulatory clearances. During Friday's hearing, Paramount attorneys offered to delay the deal closing until mid-August to sidestep a temporary restraining order. In Monday's statement, Paramount said it was "grateful for the court's swift order," adding that similar to its offer to delay the deal during Friday's hearing, the order "preserves the status quo while the Court considers the antitrust issues presented." Still, the states could seek another temporary restraining order after the 14 days, or a preliminary injunction, which would further delay the deal. Another proposed media deal — the $6.2 billion tie-up of broadcast station group owners Nexstar Media Group and Tegna — has been put on pause following a similar lawsuit and preliminary injunction that was granted by a U.S. court. A trial for the lawsuit, which is also being led by Bonta, is set to begin in mid-2027.

Paramount and Warner Bros. merger hit with temporary restraining order
North America
CNBC Finance

RFK Jr. says cyclospora outbreak is 'under control'

Health and Human Services Secretary Robert F. Kennedy Jr. on Tuesday said that the ongoing outbreak of cyclosporiasis is "under control." "We've identified the source of the outbreak, and the companies that are involved have implemented a recall," Kennedy said, responding to questions during a news briefing about healthcare fraud. The Food and Drug Administration and the Centers for Disease Control and Prevention, both under Kennedy's purview as HHS secretary, have faced criticism for their responses to the outbreak. Critics have blasted the federal agencies for the delays in alerting the public and tracking down the source of the outbreak, which the agencies have linked to shredded iceberg lettuce from central Mexico that was supplied by produce giant Taylor Farms. Some have claimed that agency cuts by the Trump administration have hampered the investigation, although the cyclospora parasite itself presents challenges due to its lengthy incubation period. "Those criticisms are invalid," Kennedy said during the briefing, responding to a question regarding criticism of the job cuts under his leadership. "We had no cuts in the surveillance program. We did cuts in the FoodNet program, but they were for redundant surveillance." FoodNet, or the Foodborne Diseases Active Surveillance Network, stopped mandatory reporting for six of eight pathogens — including cyclospora — last year due to funding cuts. The organization is a partnership between the CDC, the FDA, 10 state health departments and the U.S. Department of Agriculture. The FDA has concluded that the current cyclospora outbreak is linked to the iceberg lettuce, some of which was served by Yum Brands' Taco Bell. Taylor Farms has recalled the produce linked to the outbreak, while Taco Bell has pulled it from its restaurants. However, the FDA's messaging about a false positive test for cyclospora in a sample of Taylor Farms lettuce during its investigation sparked confusion, leading the agency to issue a clarification on Monday. It said it still suspects the company's iceberg lettuce is the source of the outbreak. The CDC, FDA and public health officials in multiple states have been investigating the outbreak, with illnesses first having appeared on May 13. So far, more than 1,644 cases have been reported, with 94 hospitalizations and no deaths, according to the CDC. 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.

RFK Jr. says cyclospora outbreak is 'under control'
North America
CNBC Finance

Goldman Sachs creates private markets platform as rich investors seek the next SpaceX and Stripe

Goldman Sachs has created a new platform to expand its offerings for wealthy clients and family offices who increasingly want direct stakes in fast-growing private companies, CNBC has learned. The new group, called the alternative investments platform, combines Goldman's existing alternatives business with two newly established teams, according to a memo seen first by CNBC. The new teams focus on direct investments in individual private companies, rather than broader private equity funds, and on helping clients buy and sell those stakes, according to the memo. "There has been a lot of focus on the big growth tech names and getting clients access to those before they debut in the public markets," Kristin Olson, Goldman Sachs' global head of alternatives for wealth, told CNBC in an interview. Goldman's move reflects two of the biggest trends reshaping Wall Street. The firm has spent years pushing deeper into wealth and asset management because of its perception as providing steadier revenues than investment banking and trading. At the same time, the most successful startups are staying private far longer than they once did, allowing early investors to capture most of the gains before public investors get a chance. "Companies are going public at a trillion dollars," Olson said. "If you haven't participated along the way, you're clearly missing a big part of the growth cycle." Goldman has been arranging direct investments in later-stage private companies for wealthy clients for roughly two decades, Olson said, pointing to Facebook before its 2012 initial public offering and later SpaceX, Stripe and Canva. But growth in demand for the asset class convinced executives to break out the business, she added. The firm's goal, Olson said, is to help clients identify promising companies before they become household names. Rather than targeting early-stage startups, Olson said, Goldman generally focuses on later-stage companies that have established products, meaningful revenue and clearer paths toward profitability, seeking what she described as a "sweet spot" between risk and return. The AI investment boom has only intensified demand. Beyond leading model developers, Goldman is increasingly steering clients toward investments in the infrastructure underpinning AI, including data centers and related projects, Olson said. The announcement comes days after Goldman reported record quarterly revenue, with executives highlighting AI-driven activity across investment banking, trading and financing businesses. The results reinforced investors' view that Goldman is positioned to benefit from multiple facets of the AI investment cycle. The announcement also formalizes Goldman's growing business helping clients find liquidity for private investments.

Goldman Sachs creates private markets platform as rich investors seek the next SpaceX and Stripe