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Asia
The Hindu BusinessLine

IMD Update: Active monsoon to bring heavy rain in coastal districts of Bengal

An active southwest monsoon is likely to bring heavy rainfall in the coastal districts of West Bengal till June 24, the India Meteorological Department said on Wednesday. The northern districts of Darjeeling, Jalpaiguri and Alipurduar could receive heavy downpour from July 26-29, the IMD said in a bulletin. It said heavy rainfall will occur in the coastal districts of North and South 24 Parganas and Purba Medinipur till July 24. The sub-Himalayan districts, which received heavy rainfall over the last several days, are likely to experience light to moderate rain over the next few days, the bulletin stated. Haldia in Purba Medinipur district received the highest rainfall in the state at 79 mm in the past 24 hours till 8.30 am on Wednesday. Other places that were lashed by heavy rain during the period include Kanthi (55 mm), Asansol (53 mm), Bankura (46 mm) and Alipurduar (34 mm), the bulletin said. Thunderstorms accompanied by gusty winds with speeds reaching 30-40 kmph are likely to occur over Kolkata during the next three days, the IMD 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.

IMD Update: Active monsoon to bring heavy rain in coastal districts of Bengal
Europe
BBC Business

'I can't afford to turn the oven on': 7.4m households struggling to buy essentials

Four years into the cost of living crisis, almost two-thirds of low-income families say they struggle to buy essentials such as clothes, heating and food, according to anti-poverty charity the Joseph Rowntree Foundation (JRF). A record 62% of low-income families were unable to afford an essential item in the past six months, the charity found - the equivalent of 7.4m households, up from 7.1 million a year ago. Almost half of those surveyed had skipped a meal or cut portion sizes to save money. Newly appointed Prime Minister Andy Burnham has promised to set out how he will "give people some breathing space, help with the cost of living," including cutting VAT on electricity bills from October. Elaine Yates, 77, says money worries mean she "can't remember" the last time she used her oven to cook a hot meal. "I don't look after myself. I can't remember the last time I put the oven on. I have got an air fryer that I probably used about three weeks ago. "I had two slices of toast yesterday and two Weetabix and fruit is all I've had to eat today." The pensioner lives by herself in rural Northamptonshire after being widowed five years ago. Following 20 years as a full-time carer for her husband, her finances are "extremely tight", so she has felt particularly vulnerable to price rises since he passed away. "It's really hard times, not just for me, but for thousands of others. My car costs me an arm and a leg. The fuel prices are rocketing up again, and I live in a village, so I need a car because I've got arthritis and I can't walk very far. I spend about £50 a week on petrol, which is more than my food bill." Elaine often gives lifts to others in her village who don't have transport, only to find herself unable to shop alongside them. "I've got one friend who buys clothes and I sit outside the shop because I can't afford to go in," she says. "I can't remember the last time I treated myself." In the winter, Elaine rarely turns the heating on, and when she does she keeps the thermostat at a low 13C.

'I can't afford to turn the oven on': 7.4m households struggling to buy essentials
Europe
BBC Business

Boost youth jobs by cutting employers' national insurance, MPs urge

Image source, Getty ImagesByMitchell LabiakBusiness reporterPublished4 hours agoEmployer national insurance (NI) contributions for all under-25s should be cut to boost job opportunities for young people, a group of MPs has urged. The Work and Pensions Committee said it has heard "overwhelming evidence" that rising employment costs, including from employer NI, were reducing training and job vacancies, particularly for young people. Over one million 16 to 24-year-olds are not in education, employment, or training (known as Neet). The committee said an employer NI cut for all under-25s would tackle this "travesty". The government said it was determined to create opportunities for young people, reform education and support people to stay and progress in work. The previous government, which introduced NI increases for businesses last year, said at the time they were making the right choice to fund public services. In its 2024 election manifesto, Labour said it would not raise taxes on "working people", specifically income tax, NI, or VAT. Critics have argued that the employer NI raise ultimately affects workers by limiting job opportunities. Some employers have argued it has become more difficult to hire young people due to higher minimum wages and increased taxes, such as employer National Insurance contributions, although the Institute for Fiscal Studies (IFS) found there is no clear evidence, external that higher minimum wages have been a "major driver" of young people becoming Neets. In April last year, the rate that employers pay in NI contributions rose from 13.8% to 15% and the threshold at which they start paying the tax on each employee's salary fell from £9,100 per year to £5,000. However, the employment allowance, which is amount employers can claim back from their NI bill, rose from £5,000 to £10,500. The committee said employer NI had hit the retail and hospitality sector, which it said tends to employ young people, particularly hard. It added that there was a "gap" between the government's employment strategy for under-21s and their strategy for under-25s.

Boost youth jobs by cutting employers' national insurance, MPs urge
North America
CNBC Finance

Novo Nordisk sues Eli Lilly, alleging misleading GLP-1 advertising

Novo Nordisk on Tuesday filed a lawsuit against Eli Lilly, alleging that its advertising campaigns for its blockbuster obesity and diabetes drugs are designed to mislead consumers about their superior efficacy relative to the Danish drugmaker's rival injections. Novo is specifically taking issue with nationwide ads that cite what it called "outdated" clinical trials to compare the highest doses of Lilly's medicines to lower doses of Novo's drugs. For example, those campaigns don't include new evidence about Novo's recently approved high-dose version of its obesity injection, Wegovy, which entered the market in March and brings weight loss that's more comparable to Lilly's products. That "leaves them with the inevitable conclusion that Lilly's medicines are superior to Novo's, and that's not accurate," said John Kuckelman, Novo's group general counsel, in an interview on Monday. He said the suit comes after Lilly refused to pull down or correct certain ads despite a formal cease-and-desist request from Novo back in April. In the suit filed in the U.S. District Court for the District of New Jersey, Novo asked the court to permanently stop Lilly from running the ads and require the drugmaker to issue corrective advertising. Novo is also seeking financial damages, though it's unclear how much. The company said it has also warned Lilly that if the ads are not removed voluntarily, it plans to seek a preliminary injunction in the coming days to block them immediately while the case proceeds. The suit comes as Novo wages an aggressive battle against Lilly to regain market share in the GLP-1 space, positioning its new obesity pill, strategic price cuts and the new high-dose Wegovy to compete with its rival's top-selling obesity injection Zepbound and diabetes counterpart Mounjaro. In recent years, Lilly's medications have become the preferred treatments in the space among many providers and patients due to their high efficacy. But high-dose Wegovy, which showed an average weight loss of around 19%, is a direct answer to that. Novo said it is specifically bringing federal and state unfair competition and false advertising claims, including under the Lanham Act, which pharmaceutical companies have relied on in the past to hold competitors accountable for deceptive advertising. The suit alleges that Lilly's campaigns across television and social media are harmful because consumers often rely on advertising to form their understanding of GLP-1s, unlike healthcare professionals, who have access to the full scientific evidence available. "Lilly's advertising campaign deprives consumers of the truthful, current, and complete information they need to make informed decisions about their available treatment options," the suit said. The lawsuit cites a TV commercial presenting Zepbound and Wegovy in a direct side-by-side comparison, stating visually and verbally that patients on Lilly's drug lose 50 pounds on average compared to 33 pounds on the 2.4-milligram dose of Novo's treatment. That's based on a previous head-to-head clinical trial comparing the highest doses of Zepbound to the 1.7- and 2.4-milligram doses of Wegovy. But Novo said in the suit that a more recent study shows that the high-dose 7.2-milligram dose of Wegovy helped patients lose 47 pounds on average, which is "clinically consistent" with Zepbound's weight loss in Lilly's most recent rigorous trial on the drug. Novo said Lilly acknowledges the existence of that high-dose Wegovy in a "small footnote," but called it "ambiguous, confusing, virtually illegible, and wholly inadequate," as it does not communicate that it is significantly more effective than the lower doses of the drug.

Novo Nordisk sues Eli Lilly, alleging misleading GLP-1 advertising
Europe
BBC Business

UK borrows less than expected in June but public finances remain a challenge

The government borrowed slightly less than expected in June, according to figures published as new Prime Minister Andy Burnham began setting out measures to cut living costs for households. Borrowing - the difference between spending and income from taxes - was £16bn, about £7.9bn lower than a year earlier, although analysts said challenges remained over the UK's public finances. Other data showed the unemployment rate was unchanged, with the Office for National Statistics (ONS) saying the labour market was "relatively steady". However, while the borrowing figure was less than forecast, the ONS said total debt was high by historical standards and close to the annual value of the UK economy. Borrowing for June was slightly below the £16.3bn that had been predicted by the government's official forecaster, the Office for Budget Responsibility (OBR). Ruth Gregory, deputy chief UK economist at Capital Economics, said June's figure was "a rare piece of good news" for the new prime minister and his new Chancellor, John Healey. However, she added: "Overall, there's no escaping the fact that the public finances are fragile and that there is limited scope for extra borrowing." So far in the current financial year, borrowing has reached a total of £57.6bn, according to the Office for National Statistics (ONS). While this is down £3.7bn from the same period last year, it is £2.7bn above the OBR's forecast. James Smith, chief UK economist at ING, told the BBC's Today programme the fact that borrowing was still running ahead of the OBR's projections was "a reminder of the challenges that the new chancellor and the new prime minister face". He added they would face a "difficult picture" at the autumn Budget, with "lots of tough choices to be made". Burnham and Healey have both pledged to stick to former chancellor Rachel Reeves' fiscal rules on spending and borrowing. although the new prime minister said on Monday he would use "any flexibility within them" to help with policy changes. Shortly after Burnham's comments were made public, the yield on 10-year government bonds - effectively the interest rate charged to the UK government for a 10-year loan - rose above 5%.

UK borrows less than expected in June but public finances remain a challenge
Europe
BBC Business

Thames Water lenders offer 'golden share' to head off nationalisation

Thames Water's main lenders are offering the government a "golden share" and more control for local authorities in a bid to stop the troubled supplier from being nationalised. The government recently rejected a previous rescue proposal, and the BBC understands the lenders are preparing a legal challenge in case the new Andy Burnham-led government takes the firm into public hands. The "golden share" would give the government veto powers over major decisions such as mergers. The lenders are also proposing giving local authorities greater involvement in the firm, similar to the relationship between United Utilities and Greater Manchester agreed when Burnham was the city's mayor. In his first speech as prime minister on Monday, Burnham said he wanted to see greater public control of "life's essentials". Sources close to the creditors have told the BBC that in the event of full nationalisation they would pursue payment in full of the outstanding debts, as has happened in previous cases, which could leave the government with a multi-billion-pound bill. The London & Valley Water (L&VW ) consortium of lenders had already proposed a £10bn deal to prevent Thames Water from entering administration. It would involve writing off nearly half of its debt and injecting new cash in return for leniency on future pollution fines. The deal was rejected by the government in June, with then-environment secretary Emma Reynolds saying it did not do enough for consumers or the environment. Sources close to the new deal said the creditors had sweetened it with hundreds of millions in new money on top of the existing offer. A golden share would give the government veto power over major decisions such as mergers and acquisitions. Golden shares are seen as a way for the government to retain a stake in companies of national significance or importance, such as Royal Mail or Rolls Royce. A government spokesperson said Thames Water "remains financially stable, but we stand ready for all eventualities, including applying for a Special Administration Regime [SAR] if that were to become necessary". "The government will always act in the national interest on these issues," they added.

Thames Water lenders offer 'golden share' to head off nationalisation
Europe
BBC Business

Can airport really go carbon neutral amid plans to expand flights?

Giant heat pumps, electric vehicles, and new fuel efficient planes are being ordered by an airport introducing major changes to cut its carbon emissions. But climate campaigners say the measures "barely touch the surface" of the problem. They say 99% of the carbon emitted by the airport is from planes, and have urged council leaders to reject plans to allow the airport to expand its flights. Mary Collett, from Bristol Airport Action Network, said: "With the weather like this at the moment, the unbearable heat, the fact that we can't grow food as easily, we just can't carry on expanding airports, we all just need to fly a bit less." But like many regional airports, Bristol is keen to expand, and has applied to grow from 12 million passengers a year to 15 million, which airport bosses insist can be done "sustainably". Dave Lees, the airport's chief exec, said new planes are greener than ever, and that Bristol will be "the first airport to be net zero by 2030" - but crucially this does not account for emissions from flights. People's desire to travel seems limitless, with airlines able to sell more flights to more destinations. The UK Government has backed expansion of regional airports to "drive economic growth". But as the impact of a changing climate is felt in repeated heatwaves, droughts and wildfires this summer, how can we fly around the world without costing the earth? Right now, councillors in North Somerset, Bristol Airport's local authority, are reading an ambitious expansion plan. Airport chiefs wants to add another 15,000 flights a year, raising their cap to 100,000. This means a bigger terminal building, and controversial new landing lights on ancient common land next to the airport. Many of the new flights are on EasyJet planes, and the airline has invested in new aircraft which it says cuts fuel use, and so carbon emissions. The Airbus NEO jets, with wings designed nearby in Filton and built in the UK, have cut fuel consumption by 20%.

Can airport really go carbon neutral amid plans to expand flights?
Europe
BBC Business

VAT to be cut from household electricity bills in October

Image source, Getty ImagesByKevin PeacheyCost of living correspondentPublished21 July 2026, 06:20 BSTUpdated 1 hour agoVAT will be cut from household electricity bills, the government has announced, as part of new Prime Minister Andy Burnham's pledge to help with the cost of living. The reduction from 5% VAT to zero will come into effect on 1 October, saving a typical household about £45 a year. Ministers said it would be funded by savings from the cancellation of the digital ID programme, which was going to cost £1.8bn over the next three years. The government estimated it will cost £850m this financial year. But Labour's Darren Jones, who was sacked as chief secretary to the prime minister on Monday, accused the government of announcing an unfunded tax cut. Jonathan Reynolds, the new business secretary, said the cut would give people some "breathing space". He said it was funded until "the end of the financial year" in March 2027 and any changes beyond that would have to be announced in the next Budget. Suppliers have been told the VAT reduction should be passed on to all household customers, including those on fixed tariffs, as was the case when some charges were taken off bills in April. The cut will take effect in England, Scotland and Wales, but equivalent funding would be given to Northern Ireland, which is regulated differently, the government said. The reduction could not be automatically be applied in Northern Ireland due to EU rules limiting the range of goods which can be sold without VAT. Following Brexit, England, Scotland and Wales are not bound by these restrictions. Small businesses who qualify for the domestic energy VAT relief and are not registered for VAT, as well as charities and residential care homes eligible for the reduced rate, will also benefit. Cutting VAT is a relatively basic tool to reduce an energy bill - with larger households likely to save more as they use more electricity. However, some vulnerable households are also high electricity users, such as for running medical equipment.

VAT to be cut from household electricity bills in October
Europe
BBC Business

Ozempic-maker accuses rival of false advertising

Image source, Getty ImagesByMichael RaceBusiness reporter, Reporting fromNew YorkPublished21 July 2026The maker of Wegovy and Ozempic, Novo Nordisk, has launched legal action accusing its arch rival Eli Lilly of false advertising in suggesting its weight-loss drugs perform better. The Danish company filed a lawsuit in the US on Tuesday claiming Eli Lilly, which makes Mounjaro and Zepbound, deployed ad campaigns to "create the misleading impression that Eli Lilly's medicines are superior". Novo said its competitor compared the highest approved doses of its medicines for obesity and type-2 diabetes with lower doses of Novo Nordisk's, while omitting newer, higher-dose options. Eli Lilly hit back at the claims and said it stood "firmly behind our advertising". "It is truthful, it is transparent, and it is grounded in the most direct scientific evidence available - exactly what patients deserve. We will continue to focus on the science and defend against this lawsuit vigorously," a spokesperson for the company said. The lawsuit comes as pharmaceutical heavyweights Novo and Eli Lilly are locked in battle to dominate the fast-growing weight-loss drug industry, especially in the US, which analysts have estimated could be worth more than $100bn by 2030. Novo Nordisk claimed its main competitor in the weight-loss drug business had committed "multiple violations" of federal and state false advertising and unfair competition laws, through its nationwide ad campaigns. The company said Eli Lilly's current campaigns "intentionally" selected outdated studies comparing Lilly's highest doses against lower doses of Novo Nordisk's medicines. It said the ads had "deceptively" presented that Eli Lilly's products were superior, but buried or omitted "critical clinical context". The products being compared incorrectly, according to Novo, were Mounjaro vs. Ozempic and Zepbound vs Wegovy. "As new and more effective treatment options become available, people deserve accurate information that reflects the latest scientific evidence and helps them make informed care decisions," said John F. Kuckelman, senior vice president and group general counsel for Novo Nordisk. "Healthcare companies have a responsibility to keep their public claims accurate and current - ineffective, fine-print disclaimers do not fix the misleading impression created by major national campaigns," he said.

Ozempic-maker accuses rival of false advertising