Latest Developments

North America
CNBC Finance

JetBlue wins Spirit slots at LaGuardia Airport, eyes move to Marine Air Terminal as airlines fight for space

JetBlue Airways has won Spirit Airlines slots at New York's LaGuardia Airport and is looking to move back into the failed budget carrier's old home, a major reshuffling at the congested airport less than three months after the discounter collapsed in the biggest U.S. airline failure in decades. The slots at the tightly controlled airport are for 12 round-trip flights and are still subject to final court and regulatory approvals, JetBlue said. Slots and gates are valuable in congested airports like LaGuardia because tight airspace restrictions and crowded airports in a big city like New York cap airline growth. Carriers have turned to using larger planes that fit more passengers to boost their capacity in some cases because infrastructure is so limited. JetBlue told staff in a note Monday, which was seen by CNBC, that it's now turning to "evaluating our plans for the slots as we consider opportunities for our network strategy" noting that any expansion won't happen until 2027. According to the note, JetBlue wants to move to Terminal A, also known as the Marine Air Terminal, an Art Deco facility that Spirit operated out of until it shut down in early May. JetBlue previously operated out of the space before relocating to a newer terminal years ago. "It's a convenient terminal travelers love," JetBlue said of the Marine Air Terminal. The New York-based airline, which is in the midst of a big expansion at Fort Lauderdale-Hollywood International Airport in Florida, last month said it would reduce its staffing footprint at LaGuardia and Newark Liberty International Airport in New Jersey and ramp up service in Fort Lauderdale. Spirit's airport assets are now winding their way through U.S. Bankruptcy Court in New York. 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.

JetBlue wins Spirit slots at LaGuardia Airport, eyes move to Marine Air Terminal as airlines fight for space
North America
Yahoo Finance

Nasdaq, Dow, S&P 500 Futures Edge Higher Ahead Of Key Earnings Week Even As Middle East Tensions Continue: DJT, NVDA, SLS, PANW Stocks In Focus

U.S. stock futures climbed higher in the overnight session late Sunday ahead of a key earnings week, even as the conflict between the U.S. and Iran escalated over the weekend. Nasdaq-100 futures climbed 0.45%, Dow futures were up 0.04%, and S&P 500 futures rose 0.14% at 9:11 PM EDT. All three benchmark indexes closed lower on Friday amid a selloff in chip stocks and growing concerns over AI spending. The Nasdaq Composite led the declines, shedding more than 360 points to close 1.40% lower. The S&P 500 was down 1.01%, while the Dow closed 0.77% lower. The Nasdaq, S&P 500 and Dow indexes also posted the worst week this quarter, tumbling nearly 3%, 1.55% and nearly 1%, respectively. Additionally, the VanEck Semiconductor ETF (SMH) tumbled nearly 9% last week as Taiwan Semiconductor’s capex hike weighed heavily on chipmakers. Chief market technician at BTIG, Jonathan Krinsky, said semiconductor companies could slip even further from here. “They could certainly bounce here in the short term, but we don’t see signs of (any) kind of that real big washout that you’re looking for,” Krinsky told CNBC on Friday. U.S. markets recovered overnight ahead of Monday, as investors watch for key earnings results this week. Two “Magnificent Seven” members, Alphabet Inc. (GOOG, GOOGL) and Tesla Inc. (TSLA), are slated to report their second-quarter (Q2) results on Wednesday. Meanwhile, chip giant Intel Corp. (INTC) will also report its Q2 results later this week, on Thursday. Meanwhile, tensions in the Middle East escalated over the weekend, with the U.S. launching its ninth consecutive strike on Iran late Sunday. “CENTCOM began conducting a new wave of strikes against Iran at 7 p.m. ET today for the ninth consecutive night. The strikes will continue degrading Iranian military capabilities used to attack commercial vessels and civilian mariners transiting the Strait of Hormuz,” the U.S. Central Command said in a post on X. Over the weekend, a third U.S. service member died in the recent conflict in the Middle East. After initially reporting two deaths and one missing service member following an Iranian attack in Jordan on July 17, CENTCOM said that U.S. forces later confirmed the death of the third member. Iran’s Deputy Foreign Minister Kazem Gharibabadi said in a post on X, “The U.S. attack on the under-construction facilities of the Darquoin power plant is a dangerous assault on Iran's peaceful infrastructure and fully implicates the U.S. government in the consequences stemming from heightened insecurity and instability. Iran, while issuing a resolute condemnation of this aggression, will take appropriate measures to defend its national interests and security.” Meanwhile, oil prices soared amid the flare-up of conflict between the two nations, rising above $90 a barrel.

Nasdaq, Dow, S&P 500 Futures Edge Higher Ahead Of Key Earnings Week Even As Middle East Tensions Continue: DJT, NVDA, SLS, PANW Stocks In Focus
Asia-Pacific
The Straits Times

How PayPal went from Wall Street favourite to unwilling merger target

The company synonymous with digital payments got a $68 billion offer to be taken private by upstart rival Stripe and buyout shop Advent International. Five years ago, PayPal was a Wall Street favourite and a leader in digital payments. Since then, the stock has plunged, Apple Pay dominates payment services in the US, and PayPal is facing a takeover bid it does not like. What happens next? The company synonymous with digital payments this past week got a US$53 billion (S$68 billion) offer to be taken private by upstart rival Stripe and buyout shop Advent International. PayPal’s board is discussing the bid but believes US$60.50 a share is not enough, people familiar with the company said. It is a comedown for a company that helped to pioneer e-commerce and e-mail-based payments, launching the careers of tech titans Elon Musk and Peter Thiel in the process. Founded in 1998, the San Jose, California, firm was acquired by eBay in 2002 and spun off as an independent company in 2015. Continued growth pushed its market value as high as US$360 billion in 2021. But since then, its growth has slowed and competition intensified, while multiple attempts in recent years to jump-start its business have borne little fruit. Dealmakers are now weighing the value of PayPal’s sprawling payments ecosystem, from its 400 million-plus consumer accounts to its merchant checkout business, raising the question of whether the company is worth more as a single entity or as a collection of assets, such as the Venmo peer-to-peer payment app, that could be sold off in pieces. In February, when the company named a new chief executive, it acknowledged a need to address its position relative to competitors and within the broader industry landscape. “While some progress has been made in a number of areas over the last two years, the pace of change and execution was not in line with the board’s expectations,” it said in a statement. Enrique Lores, who took over as CEO in March, has not commented on whether PayPal would pursue a sale. While bigger rivals such as Apple, Google and Samsung and upstarts including Stripe and Affirm relentlessly rolled out new ways for consumers and businesses to pay for goods and services, analysts say PayPal was slow to explore opportunities in digital banking and commerce, or to offer fresh options when more people were using their phones to pay. “Why bother becoming a digital bank if you can just be the world’s biggest checkout button?” said Dan Dolev, senior analyst at Mizuho. “I think it was too easy to drink the honey straight from the checkout jar.” Investors and industry executives are frustrated with PayPal’s performance, said one source familiar with the company’s deliberations. PayPal started before the iPhone even existed, but in 2025, Apple Pay’s US market share exceeded PayPal’s by 10 percentage points, according to PYMNTS Intelligence, a research company.

How PayPal went from Wall Street favourite to unwilling merger target
North America
CNBC Finance

What to know about testosterone replacement therapy as the U.S. military plans to test troops

Testosterone replacement therapy has shifted from the doctor's office to the center of a massive cultural phenomenon focused on performance, longevity and men's health. Now, the treatment is back in the spotlight after Defense Secretary Pete Hegseth announced last week that the U.S. military will begin testing service members' testosterone levels and make replacement therapy available to those who qualify, saying the goal is to help troops operate at their "absolute best." The effort also builds on a larger push by the Trump administration to promote and expand public access to testosterone replacement therapies, which are made by pharmaceutical companies such as AbbVie, Pfizer and Marius Pharmaceuticals. The announcement puts a new focus on a treatment that has grown increasingly popular in recent years, fueled by men's health clinics, telehealth companies and online influencers, who promote testosterone, or "T-maxxing," as a way to address fatigue, aging and declining performance. Health and Human Services Secretary Robert F. Kennedy Jr. has also touted testosterone therapy as part of his anti-aging regimen. Prescriptions rose from 7.3 million in 2019 to more than 11 million in 2024, according to healthcare research firm IQVIA. But there has long been a debate around the safety of taking synthetic forms of testosterone, the hormone that affects sex drive, mood and other health factors. While some research has shown benefits for patients who qualify, including improvements in bone density and muscle mass, questions remain about the therapy's long-term risks and its use among men without a clear medical need. The concern is significant: up to a third of men taking testosterone have never been formally diagnosed with testosterone deficiency and may not benefit from treatment, according to the American Urological Association. Physicians also stress that testosterone therapy is not a universal solution for low energy or normal aging. It is generally intended for men with clinically confirmed testosterone deficiency, and experts say determining who qualifies requires more than a single blood test — which appears to be the military's plan. Excess testosterone can also carry risks, including reduced sperm production. "I'm not saying that testosterone is bad. It is good for people that need it," said Dr. Adrian Sandra Dobs, an endocrinologist at the Johns Hopkins School of Medicine. "But to overreplace it – we have to be very careful about that." As testosterone therapy enters a new national conversation, here's what doctors say we know – and don't know – about its benefits, risks and who should consider treatment. Testosterone replacement therapy, which is commonly administered through injections, gels, implantable pellets and oral medications, is intended for a more narrow population than social media may suggest. Physicians say it's generally reserved for men with clinically diagnosed hypogonadism – a condition in which the body does not produce enough testosterone. That generally means persistently low testosterone levels alongside symptoms such as reduced sex drive, fatigue, erectile dysfunction, depressed mood, low bone density, or loss of muscle mass and strength.

What to know about testosterone replacement therapy as the U.S. military plans to test troops
Europe
The Guardian

Trump has normalized crypto. Is it the path to the next financial collapse? | Eduardo Porter

A Bitcoin conference in Las Vegas, Nevada, on 29 May 2025. Photograph: Ronda Churchill/Bloomberg via Getty ImagesView image in fullscreenA Bitcoin conference in Las Vegas, Nevada, on 29 May 2025. Photograph: Ronda Churchill/Bloomberg via Getty ImagesUS economyTrump has normalized crypto. Is it the path to the next financial collapse?Eduardo PorterCheerleading by the president, who made $1.2bn last year off uninsured currency, does not bode well for US economy The scale of the graft is decidedly off the charts, but the revelation that Donald Trump raked in a personal fortune of $2.2bn during his first year in office should come as no surprise. The president didn’t even try to hide his venality. Not only did he refuse to sell businesses and put assets in a blind trust, as other presidents have done to limit opportunities for self-dealing; the quid pro quos with foreign governments and assorted magnates were exposed for all to see. It is troubling that the president of the United States would so nonchalantly deploy his official powers to profit from dealings with money launderers and Middle Eastern princes. It is perhaps more so that the supposedly robust checks and balances upholding American governance proved powerless to stop him. (Here’s waiting for the supreme court to define Trump’s dealings as “official acts” in order to exonerate him.) What’s most worrying, at the moment, though, is the extent to which Trump put at risk the stability of the United States economy. His business dealings are not little grifts that are harmless to America. Trump’s most lucrative maneuver – which netted him $1.2bn – came from the cryptocurrency industry. The pro quo from Washington included getting regulators off crypto’s case and plugging the currency into the formal financial system. That is likely to prove immensely costly to us all. Seventeen years since bitcoin emerged on the scene, crypto hasn’t yet found a purpose other than to pay for crime, allow countries like Russia and Iran to avoid American sanctions and provide volatile assets for fools and gamblers to bet their savings on – like Dutch tulips in the 17th century, though not as pretty. Trump once said crypto was a “scam”. That was before the industry piled gobs of money into his presidential campaign and, notably, before he took a personal stake in the business. He launched the crypto company “World Liberty Financial” (of which he sold 49% to an investment firm tied to the United Arab Emirates for $500m) and issued his memecoin $Trump, which cost naive, Maga-friendly investors nearly $4bn but netted the president more than $600m. Trump nixed the crypto-enforcement program at the Securities and Exchange Commission – aborting crypto-related lawsuits and investigations – and gutted the unit in charge of overseeing the industry. The Department of Justice announced it would pull back investigations and prosecutions of money laundering and other shenanigans against crypto-related platforms. Then, campaign coffers seeded with generous contributions from the industry, 206 Republicans and 102 Democrats in Congress passed the Genius Act, which Trump aggressively promoted, that entangled crypto in the regular banking system, where your and my savings live. Banks and non-banks – even retailers like Walmart – can now issue their own “stablecoin”, a type of cryptocurrency, pegged at a fixed value of $1, that today is used almost exclusively to buy and sell riskier crypto assets like bitcoin. Unlike bank accounts, stablecoin holdings are not insured by the FDIC. Issuers will guarantee their value by investing all the proceeds in high-quality assets, like treasury bills. The promise is that this will broaden their use outside of the speculative crypto space and allow them to be a payment platform that cheaply executes transactions in real time on a decentralized electronic ledger. This could mean quicker and cheaper international transfers, for instance. The financiers are piling in. As of early June, there were 233 stablecoins available on the crypto market. Mastercard is buying up crypto businesses and accepting settlements in stablecoin. Big banks like Citi and JPMorgan hope to defend their business from crypto upstarts by setting up their own crypto deposit infrastructure and launching their own coins. Brokers are allowing customers to invest with stablecoin. And Trump is pushing hard for swift passage of the Clarity Act,which would offer regulation-light legal cover for the broader universe of crypto businesses to issue and support trading in more speculative assets like bitcoin.

Trump has normalized crypto. Is it the path to the next financial collapse? | Eduardo Porter
North America
CNBC Finance

The FDA made a big reversal in its cyclosporiasis probe, but it still thinks iceberg lettuce is to blame

The Food and Drug Administration's reversal on a key piece of its cyclosporiasis investigation has sparked confusion in the U.S., but the agency said Monday that it has not changed its main conclusions about the outbreak. The agency said Sunday a test that indicated a sample of iceberg lettuce supplied by Taylor Farms de Mexico carried the cyclospora parasite was a false positive. However, that only applies to one specific shipment of lettuce supplied by the company, which the agency does not believe was the vehicle that sickened more than 1,600 people and potentially thousands of others. In a Monday clarification, the agency said its false positive does not change its prior conclusion that the outbreak is linked to shredded iceberg lettuce from central Mexico supplied by Taylor Farms, which was also served at some Taco Bell locations. The agency is still advising Americans not to eat recalled iceberg lettuce. "FDA's traceback investigation and outbreak data continue to converge on shredded iceberg lettuce from Taylor Farms locations in central Mexico," it said in a statement. "FDA will continue to work with federal and state partners to investigate this multistate outbreak and ensure products implicated in this outbreak have been removed from the market." Investigators are continuing to examine what exactly caused the outbreak, which can lead to symptoms similar to a bad stomach bug for days or even weeks. CNBC has reached out to the FDA for details on the next phase of the investigation, including whether additional ingredients or suppliers are under scrutiny and whether the agency expects to issue further guidance. The agency has not yet responded. The false positive test comes as the developing investigation creates uncertainty for both consumers and the food industry. While the FDA has said not to eat iceberg lettuce from Taylor Farms, some diners have stayed away from salads altogether as the number of cases rises. "Unfortunately, this latest development may add further confusion to what has already been a complex situation for consumers," said Frank Yiannas, former deputy commissioner of food policy and response at the FDA. Though industry analysts do not expect the outbreak to have a long-term impact on Taco Bell or other restaurant chains, it could at least temporarily hit sales, based on foot traffic data, and cause a one-to-two quarter hit for companies linked to it. Foot traffic at Taco Bell sank roughly 19% on Friday compared to the day-of-the-week average so far this year, according to data from research firm Placer.ai. In foodborne outbreak investigations, a false positive can happen when an initial screening signal isn't reproduced during confirmation testing. Some doctors have pointed out that cyclospora is particularly challenging to recreate in the lab. But it has not caused a shift in how public officials view the root of the outbreak. The Department of Health and Human Services in Michigan, where the outbreak has seen explosive growth, says it continues to recommend that people purchase whole heads of lettuce rather than pre-washed, bagged or pre-mixed salad kits. The agency added that based on interviews with more than 2,000 infected patients, many of them did not report eating lettuce at a restaurant, though they frequently said they ate the leafy green in some setting.

The FDA made a big reversal in its cyclosporiasis probe, but it still thinks iceberg lettuce is to blame
Europe
BBC Business

The 20-somethings betting big on tech stocks

In her teens, Michelle Huynh, the eldest daughter of migrant parents in Australia, made a promise to her family that she would become a millionaire by the time she turned 30. The 26-year-old describes it as "a somewhat silly promise" inspired by the sacrifices her non-English-speaking parents made to raise the family. But she is trying to make that dream come true by investing her savings in the stock market. "Times are so different and investing has become a necessity," says Huynh, who works in sales for a tech firm. "It feels like our purchasing power is shrinking. This is the only way to combat that." This year, the technology-driven surge in stock markets has edged her closer to that goal. With more than a third of her investments in tech stocks, by the middle of July that part of her savings had jumped this year by 50% - a rise of A$31,000 (£16,100; $21,666). But those gains have now eased to about A$22,000 as the sector is going through what she calls a "wild moment". Huynh says she's prepared for the volatility, viewing those investments as a long-term bet. The rise in tech stocks, led by firms riding the artificial intelligence (AI) boom, has attracted large numbers of ordinary investors, many of them in their 20s and early 30s, even as some analysts warn that the fervour around AI may be overblown. Retail investors have been caught up in the excitement, which has been fuelled by social media and marketing efforts to draw non-professionals, says Glenn Tan from advisory firm Providend. The tech-heavy Nasdaq in the US is up by about 10% this year, while Japan's Nikkei 225 has risen by more than 20%. That volatility is most apparent in South Korea. Seoul's Kospi index, which includes tech heavyweights like SK Hynix and Samsung Electronics, has jumped by more than 50% since January.

The 20-somethings betting big on tech stocks
Europe
BBC Business

Burnham has big ideas - but what will they cost?

Image source, WireImage via Getty ImagesByFaisal IslamEconomics editorPublished20 July 2026Up until this point, the new Prime Minister Andy Burnham has described his policy changes with a broad brush. From today, he faces the constraints, trade offs, and realities of high national office. For example, Burnham has said Tuesday's announcements on cost of living support would be paid for. In other words, it would mean a tax rise or spending cut, so we will see rather quickly what the new PM prioritises when push comes to shove. Meanwhile, the markets seem to have already reacted to the suggestion he would be using some "flexibility" in his borrowing rules to help with new announcements. The UK government's 10-year borrowing rose above 5% on Monday after falling in recent days. It has not gone up in this way in other European economies. The move was not huge, but it shows the sensitivities at a moment when Burnham is overhauling his cabinet - including replacing Rachel Reeves as chancellor with former defence secretary John Healey. The "flexibility" Burnham was talking about is, I understand, about the treatment of financial institutions. This has occurred in some green energy policies and essentially helps exempt certain types of borrowing from the measures of debt. There is scope for this model to extend to housing and other infrastructure. It was not a general suggestion of, for example, using up the increased headroom against the government's borrowing rules. All this shows how every tricky decision and trade off is being watched by the country and the markets at the same time. Healey is a surprise choice as chancellor but perhaps should not have been. He spent half a decade in Gordon Brown's treasury with specific knowledge of that era's attempt to regenerate and devolve power - the Regional Development Agencies, later scrapped by the coalition government. No 10 is stressing that Burnham and Healey "have the same outlook" on the need to maintain economic stability and the current fiscal rules, reindustrialisation, devolution, helping people with the cost-of-living crisis and backing British jobs and British industry to drive growth across the country. But immediately there is a trade-off here. Healey resigned as defence secretary last month over funding the defence settlement. He was literally calling for more defence spending, and some of the previous increases in defence funding came from cutting back home infrastructure spending on transport and on energy investment. How will he square those things as chancellor? In his first comments as chancellor, Healey has told broadcasters that he will work "in lockstep" with the new PM "to meet the fiscal rules with a buffer against uncertainty", and making life more affordable. He had revealed he had just spoken to Andrew Bailey the Bank of England governor.

Burnham has big ideas - but what will they cost?
Asia
The Hindu BusinessLine

Fresh data centre capacity rises 59% annually to 258 MW IT in Jan-Jun: Savills

India's data centre segment witnessed a 59 per cent annual growth in fresh capacity additions to 258 MW IT during January-June, according to Savills. In a statement on Tuesday, real estate consultant Savills India said, "The new data centre capacity additions in India surged to 258 MW IT in the first half of 2026, compared to 162 MW IT in H1 2025". The capacity additions took the country's total operational stock to 1.8 GW IT. Of the total operational stock, Savills said that hyperscalers accounted for 36 per cent, followed by enterprise-focused facilities at 8 per cent and edge data centres at 1 per cent. The remaining 55 per cent comprised facilities catering to both hyperscalers and enterprises. "India’s data centre market is set for significant expansion, with total capacity projected to nearly fourfold and reach over 7 GW IT by 2030," the consultant forecast. Srihari Srinivasan, Director & Lead - Data Centre Services, Savills India, said the Indian data centre market continues to witness sustained growth, driven by both established operators and an influx of new funds and developers. "While the broader colocation market has experienced relatively moderate demand due to increasing enterprise adoption of cloud services, demand from hyperscalers and large enterprises remains strong and is expected to continue underpinning market expansion," he added. The consultant expects emerging demand from Neo-Cloud service providers, which are actively evaluating India as a strategic destination because of cost advantages, location-agnostic nature, and expanding infrastructure ecosystem. "Despite the steady market outlook, facilitation of power and suitable land parcels for DC development remains a critical challenge across all key data centre markets in India, requiring Hyperscalers and DC Operators to explore new clusters for future expansion, with the support of local governments," Srinivasan said. 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.

Fresh data centre capacity rises 59% annually to 258 MW IT in Jan-Jun: Savills