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Asia
The Hindu BusinessLine

Paytm plans to infuse ₹100 cr in wealth tech arm Paytm Money

Fintech firm One97 Communications, which owns the Paytm brand, plans to infuse ₹100 crore in its wealth tech arm Paytm Money, the company said in a regulatory filing. Incorporated in 2017, Paytm Money is engaged in providing investment and wealth management services, including stock broking, mutual fund distribution and other financial services. "Additional investment by the company, by way of subscription, to the equity shares of its wholly owned subsidiary, namely Paytm Money Limited (PML) by way of a rights issue for an amount up to ₹100 crore, subject to the necessary approvals, as applicable," Paytm said in a late-night filing on Monday. "PML is a wholly-owned subsidiary of the company. Issuance of up to 10 crore (Ten crore) additional equity shares of face value of ₹10 each by PML, pursuant to the Rights Issue, will not result in a change in shareholding of the company in PML, which remains at 100 per cent," the filing 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.

Paytm plans to infuse ₹100 cr in wealth tech arm Paytm Money
Europe
BBC Business

John Healey becomes chancellor weeks after shock resignation from defence job

Image source, EPAByBrian WheelerPolitical reporterPublished20 July 2026John Healey - who has been announced as Andy Burnham's Chancellor of the Exchequer - is seen as the ultimate safe pair of hands. Which made the 66-year-old's resignation as Sir Keir Starmer's defence secretary just over a month ago all the more shocking. Healey's assessment of the government's much-delayed defence investment plan - that it fell "well short of what is required for defence and the country at this dangerous time" - was devastating and undoubtedly hastened Sir Keir's departure from Downing Street. Now he's in charge of the funding not just of defence - but of every arm of government. He replaces Rachel Reeves, who had served as Sir Keir's chancellor since Labour's 2024 landslide election win. Loyal, and not someone who briefs against colleagues to journalists or indulges in political games, he has been around the top of the Labour party for three decades. His resignation came days before Andy Burnham's pivotal by-election in Makerfield, adding to the sense that Sir Keir's premiership was falling apart. Healey earned plaudits from across the political spectrum for resigning on a matter of principle. He had clashed with Reeves, the woman he is now replacing, pointedly saying in is resignation letter that the Treasury had been "unwilling" to "commit the resources that the nation needs to defend the country at this time of rising threats". His return to government in the most vital job of all in cabinet after the prime minister is an even bigger surprise than his resignation, given that his name had not been mentioned as a frontrunner in the increasingly feverish speculation about who Burnham would choose. Sources told the BBC that Burnham and Healey "have the same outlook" on many of the prime minister's priorities, including reindustrialisation, the cost-of-living, and driving growth across the country. The softly-spoken Yorkshireman has a remarkable record as someone who has been on the Labour frontbench almost continuously since 2001.

John Healey becomes chancellor weeks after shock resignation from defence job
Europe
BBC Business

Why Andy Burnham will find it so tricky to unite Britain

ByEvan Davis Presenter of BBC Radio 4's Common GroundDid you get to see the 2024 film Civil War, with its dystopian depiction of a present day USA in the midst of a violent meltdown? What made it such an effective thriller was that it all seemed so frighteningly real. Although the two sides in that civil war were fictitious, it hit a raw nerve precisely because of the very obvious divides that scar modern day America. But interestingly it was actually written and directed by a British film-maker, Alex Garland, and he expressed worries about his home country, as well as the US. In both countries, he told the Guardian, "there's a lot to be very concerned about". He's not alone. If you are an avid user of social media, you could almost believe that we are a nation disunited enough to have a full-on civil war of our own. And even away from the exaggerated adversarialism online, there are plenty of people worried that Britain is gripped by uncontrollable rage. It's a sense of discord that Britain's new prime minister, Andy Burnham, seems to recognise. Since announcing his run for the Makerfield seat in May, he's repeatedly urged Britons to forget about party labels or factional identities and instead unite around pride in their local area. "Place first, not party first", is how he puts it. And as he entered Downing Street on Monday, he called for a "new national sense of unity, of common purpose and positivity". Evan Davis travels across the UK exploring the forces that are driving the UK apart, and he hears ideas to improve our sense of "social cohesion". Some talk as though the population is ready to wield the pitchforks; that we are close to social breakdown; that a small spark could lead to a serious fire. Last year, a commission co-chaired by the former Home Secretary, Sir Sajid Javid, warned in a report: "The bonds that hold society together - civic participation, and a shared sense of belonging - are under growing pressure." Well, I have just had the privilege of spending a month journeying - literally and figuratively - through some of the divisions that define modern Britain, for a Radio 4 series. Is there any common ground left in the country that Burnham has now inherited - or are we polarised to the point of no-repair? For a long time, Britain had a clear, defining split: social class. What kind of job you had, how you spoke, what time you had your evening meal, what you watched on TV, how you voted… it was all pre-determined by your working or middle class background.

Why Andy Burnham will find it so tricky to unite Britain
Europe
BBC Business

'I made £100,000 of TikTok sales in one day': The business of live shopping

Daisy Kelly's business was inspired by a personal problem - for years she'd been pulling out her eyelashes. She hid her habit with lash extensions, but when beauty salons closed during Covid Daisy decided to create a serum to help her eyelashes grow back. She started Glow For It from her mother's kitchen table in 2020 while she was a student and now her business generates £6m a year in sales. More than 40% of Daisy's sales come from TikTok Shop UK and increasingly from livestreams. "I think live shopping gives people that connection and interaction that we're all craving... We actually generated over £100,000 revenue in one 12 hour TikTok live," says Daisy, 27. Daisy's business goes live from a studio for a minimum of six hours a day with different presenters interacting with shoppers, from showing off products to answering their questions. There are a host of platforms and marketplaces now offering livestreams connecting sellers and customers, from Instagram Live, YouTube Shopping, to eBay and Amazon Live. They're all different. Live shopping, it seems, is becoming part of everyday consumer behaviour for many. According to new research from retail agency Savvy Marketing, 30% of shoppers surveyed said they'd bought something from a live shopping event. "The big retailers have got to grab hold of this," says Catherine Shuttleworth, CEO of Savvy. "It's grown from nothing to a huge thing really quickly. If you haven't got a strategy for live selling, you're going to miss out." TikTok Shop says its UK sales grew by more than 30% year-on-year in June, with live shopping the fastest-growing format. At an event in the centuries old Covent Garden market, it hosted 20 small businesses with stalls who were also selling live to customers all over the UK.

'I made £100,000 of TikTok sales in one day': The business of live shopping
Asia
The Hindu BusinessLine

Andhra Pradesh faces 48% rainfall deficit, CM Naidu calls for water conservation

Andhra Pradesh has 48 percent rainfall deficit and people need to adopt sustainable water and environmental practices, Chief Minister N Chandrababu Naidu said. Speaking at the Swachh Andhra programme in Gudivada on Sunday, Naidu said “Net Zero” should become a way of life by minimising household waste and embracing carbon neutrality. The citizens should harvest rainwater and recharge groundwater to tackle recurring water shortages, Naidu said. The Chief Minister recalled that declining inflows into the Krishna Delta over a decade ago severely affected agriculture in the region, once known as the country’s “rice bowl.” The Pattiseema Lift Irrigation Project, completed within 12 months, had enabled the transfer of Godavari waters to the delta despite reduced inflows into the Prakasam Barrage this year, he added. According to him, nearly 450 TMC of water has been diverted so far, creating substantial agricultural wealth. The State government was commitment to completing the Polavaram Project and linking rivers from Vamsadhara to Penna to ensure drought-proof irrigation. Addressing aqua farmers, he assured continued support amid falling shrimp prices and rising feed costs, stating that discussions have already been held with the Central Government, according to a release. 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.

Andhra Pradesh faces 48% rainfall deficit, CM Naidu calls for water conservation
North America
Yahoo Finance

MU, SNDK, CRWV, IREN Stocks Climb After Brutal Week: Retail Bets On Memory, Neocloud Rebound

Shares of key memory firms and neocloud operators rose in overnight trading on Sunday after a brutal week for AI-linked stocks, offering some relief from the worrying downtrend that has persisted since the start of July. Micron stock gained 2.5%, while SanDisk and Western Digital shares rose about 1% each. SanDisk shed over 29% this week, its worst weekly fall in over a year, emerging as the biggest loser in the S&P 500 index. CoreWeave and Nebius stocks rose about 1.2% each, while IREN Ltd. gained 1%. The stocks slumped between 17% and 19% in the week, with the move said to be closely associated with the selloff in the chip sector. U.S. semiconductor stocks have fallen rapidly as investors take profits after an extended AI-driven rally and rotate into large-cap software and internet stocks. A combination of rising Treasury yields, renewed inflation worries from higher oil prices amid escalating U.S.-Iran tensions, and concerns that AI-related valuations had become stretched weighed on the sector. The selloff was exacerbated by growing uncertainty over whether hyperscalers would continue to invest the massive sums in AI development that they had committed at the start of the year. Investors are awaiting earnings from companies such as Alphabet and Intel for fresh evidence that AI demand remains strong. As a result, the iShares Semiconductor ETF (SOXX) entered bear-market territory, declining 22% from its June 22 peak, even though analysts generally view the move as a correction and sector rotation rather than a deterioration in the long-term AI investment cycle. “SOXX semiconductor stocks are now experiencing their biggest pullback in the past year… The key question now is whether this is just a healthy correction within the semiconductor cycle or the beginning of a deeper move lower,” a trader posted on the SOXX stream on Stocktwits. Retail sentiment for SOXX remained ‘neutral,’ unchanged from the previous week. Traders remained upbeat on the memory segment, with a ‘bullish’ read on MU and SNDK. “$SNDK Just bought more. It's growing 150% a year. It's down 40% for the month from the AI correction. A no-brainer to accumulate. They locked in a multi-billion dollar deal with Facebook to provide memory chips over the next few [years],” a trader wrote, projecting the stock to increase roughly three times in the next five years. Stocktwits sentiment was ‘bullish’ for CRWV and IREN, and ‘extremely bullish’ for NBIS. A trader noted that CoreWeave is the compute supplier for China’s Moonshot AI, whose latest Kimi K3 AI model is said to be on par with leading models from OpenAI and Anthropic.

MU, SNDK, CRWV, IREN Stocks Climb After Brutal Week: Retail Bets On Memory, Neocloud Rebound
Asia
The Hindu BusinessLine

Emcure’s Poviztra gets CDSCO nod for fatty liver treatment

Emcure Pharmaceuticals Ltd on Monday said its co-marketed brand of the innovator semaglutide, Poviztra, will now be available for the treatment of fatty liver. This followed the Central Drugs Standard Control Organisation's (CDSCO) approval of 'Wegovy' for the treatment of non-cirrhotic metabolic dysfunction-associated steatohepatitis (MASH) in adults with moderate to advanced liver fibrosis, the company said in a statement. Poviztra is manufactured and imported from Novo Nordisk's European manufacturing facility and contains innovator rDNA-origin semaglutide, it added. Last year, in November, Novo Nordisk India and Emcure Pharma had announced a partnership to launch weight loss medicine Poviztra, semaglutide injection 2.4 mg, as a second brand of Wegovy in India. The approval enables Emcure and its subsidiaries to offer the new indication through Poviztra, expanding access to innovator semaglutide for patients living with a progressive liver disease that has long faced limited treatment options, the company said. Commenting on the development, Emcure Pharmaceuticals Ltd CEO & MD Satish Mehta said, “The approval for MASH marks an important milestone for patients living with a serious and often underdiagnosed liver disease.” Last week, Novo Nordisk India announced the receipt of approval from CDSCO for the indication of its Wegovy injection in the treatment of fatty liver disease in India. It made Wegovy the first and only GLP-1 RA to be approved both globally and in India for the treatment of noncirrhotic metabolic dysfunction-associated steatohepatitis (MASH) in adults with moderate to advanced liver fibrosis along with a reduced calorie diet and increased physical activity, it added. MASH is a liver disease that develops due to excess fat buildup in the liver, causing chronic inflammation and liver damage. 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.

Emcure’s Poviztra gets CDSCO nod for fatty liver treatment
Asia
The Hindu BusinessLine

Andy Burnham assumes office as UK Prime Minister

Andy Burnham, newly elected leader of the Labour Party, on Monday took charge as the UK's new Prime Minister. King Charles III invited the 56-year-old former mayor of Greater Manchester to form a new government following the resignation of Keir Starmer moments earlier to mark the formal handover of power. "The Rt. Hon. Sir Keir Starmer MP had an audience of the King this morning and tendered his resignation as Prime Minister and First Lord of the Treasury, which His Majesty was graciously pleased to accept," a Buckingham Palace spokesperson said. Burnham, elected Labour leader unopposed last week, is expected to get to work as PM immediately by announcing his picks for Cabinet. The country's fifth Prime Minister in four years has pledged to bring in "stable and responsible" politics. Earlier, Starmer delivered his final address from 10 Downing Street as Britain's Prime Minister before making his way to meet the King to formally tender his resignation. The 63-year-old Labour MP, who announced his decision to step down last month, said he was "passing the baton" to Burnham, who had his “full support”. “I go with good grace, I go with a smile and I go proud of everything that we have achieved,” said Starmer. His Cabinet colleagues and officials lined up to applaud his departure from Downing Street after two years, having won a landslide election for Labour in the July 2024 general election. 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.

Andy Burnham assumes office as UK Prime Minister
Asia
The Hindu BusinessLine

IVPA seeks policy review as refined edible oil imports from Nepal breach 8 lakh tonnes

India is the world’s largest importer of edible oils and continues to depend on imports to bridge the domestic demand-supply gap. The Indian Vegetable Oil Producers’ Association (IVPA) has urged the Government to undertake an urgent policy review following the surge in duty-free refined edible oil imports from Nepal under the South Asian Free Trade Area (SAFTA) framework. Imports from Nepal have increased from 47,295 tonnes in 2023 to 1.24 lakh tonnes (lt) in 2024, before surging to over 8.04 lt in 2025, an increase of more than 17-fold within two years. Citing the prevailing trade trends, a media statement by IVPA said imports are expected to approach 1 million tonnes annually, making Nepal one of India’s largest suppliers of refined edible oils. IVPA said the sharp increase represents a significant structural shift in India’s edible oil trade and merits timely policy attention to ensure that India’s trade framework, tariff policy and domestic value-addition objectives continue to remain aligned. Sudhakar Desai, President of IVPA, said: “India has consistently championed regional economic cooperation and remains fully committed to the objectives of the SAFTA agreement. However, the extraordinary pace and scale of duty-free refined edible oil imports call for a comprehensive policy review to ensure that preferential trade arrangements continue to promote genuine regional value addition while safeguarding the competitiveness of India’s domestic refining industry, supporting farmer welfare and strengthening the nation’s long-term edible oil security.” India is the world’s largest importer of edible oils and continues to depend on imports to bridge the domestic demand-supply gap. At the same time, successive policy measures have encouraged domestic refining so that value addition, investment, employment and economic activity remain within the country. IVPA noted that the rapid increase in duty-free imports of refined edible oils has altered this balance by shifting refining activity outside India while domestic refiners continue to import crude oils on payment of applicable customs duties and Agriculture Infrastructure and Development Cess (AIDC). The association said this has implications for refining capacity utilisation, future investments, manufacturing competitiveness and demand for domestically produced oilseeds, particularly soybean and mustard grown by millions of Indian farmers. It said that the rising volume of duty-free imports also has implications for government customs revenue, estimated by industry at ₹2,000-2,500 crore annually, while progressively transferring value addition outside India. Recognising the importance of preserving the integrity of India’s preferential trade framework, IVPA has requested the Government to undertake a detailed verification of compliance with the Rules of Origin prescribed under the SAFTA agreement through the existing customs framework, including the Customs Administration of Rules of Origin under Trade Agreements Rules, 2020 (CAROTAR). Given Nepal’s limited domestic availability of palm oil and soybean, IVPA believes such verification would help ensure that preferential tariff benefits are extended only to products that genuinely satisfy the prescribed origin requirements. “Our representation is not intended to restrict legitimate bilateral trade with Nepal or dilute India’s international commitments. It seeks to preserve the integrity of India’s trade agreements by ensuring that preferential tariff benefits accrue only to products genuinely qualifying under the Rules of Origin, while maintaining a level-playing field for Indian industry and protecting domestic value addition,” Desai said. In its representation, IVPA has requested the Government to examine verification of Rules of Origin under the SAFTA framework through strengthened implementation of CAROTAR. It sought a review of the existing tariff structure to ensure continued support for domestic value addition. IVPA reiterated that India’s long-term edible oil security depends not only on assured access to imports but also on preserving a globally competitive domestic refining industry that supports farmers, generates employment, strengthens manufacturing and builds resilient supply chains.

IVPA seeks policy review as refined edible oil imports from Nepal breach 8 lakh tonnes