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Asia
The Hindu BusinessLine

Lok Sabha to take up introduction of four key bills, including Tribunals Reforms Bill today

The Lok Sabha is scheduled to take up the introduction of several key bills on Monday, including the Tribunals Reforms Bill, 2026, the Mines and Minerals (Development and Regulation) Amendment Bill, 2026, the Kerala (Alteration of Name) Bill, 2026, and the National Co-operative Development Corporation (Amendment) Bill, 2026. As per the list of business, the Tribunals Reforms Bill, 2026, will be introduced by Union Minister Arjun Ram Meghwal. The Bill seeks to improve the functioning of tribunals and ensure transparency and uniformity in the appointment and service conditions of tribunal members. It also proposes setting up a National Tribunals Commission. The House will also take up the Mines and Minerals (Development and Regulation) Amendment Bill, 2026. Union Minister G Kishan Reddy will move for leave to introduce the Bill, which seeks to further amend the Mines and Minerals (Development and Regulation) Act, 1957. Union Home Minister Amit Shah is scheduled to introduce the Kerala (Alteration of Name) Bill, 2026, which seeks to change the name of the state of Kerala. He will also move to introduce the National Co-operative Development Corporation (Amendment) Bill, 2026, which seeks to amend the National Co-operative Development Corporation Act, 1962. The House will also receive reports from several standing committees, including those on Finance, Railways, Housing and Urban Affairs, and Social Justice and Empowerment. The Finance Committee will present reports on issues including the role of the Competition Commission of India in the digital economy, the performance of the National Statistical Commission and demands for grants for 2026-27. The Railways Committee will present reports on freight earnings and Dedicated Freight Corridors, as well as demands for grants for the Railways Ministry. It will also table a statement on government action regarding recommendations related to the construction and maintenance of rail tunnels and bridges. 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.

Lok Sabha to take up introduction of four key bills, including Tribunals Reforms Bill today
Asia
The Hindu BusinessLine

What is Unitree and why are China’s humanoid robot makers racing to list?

Chinese robot ‌maker Unitree has priced its Shanghai initial public offering ​at 150.8 yuan per share, with subscriptions to start on ⁠Monday, as it seeks to raise 6.1 billion yuan ($904 million) in a deal that would see it become the first mainland-listed humanoid robot manufacturer. Below are ‌some facts about Unitree, and why it is leading several Chinese robotics companies towards public listings. Founded in ‌2016 by engineer Wang Xingxing, Hangzhou-based Unitree first became known ‌for ⁠relatively inexpensive quadruped robots — or robot dogs. Its G1, H1 and ⁠R1 humanoids have gone on to attract global attention through viral demonstrations showing them running, dancing and performing martial arts. The company competes with Tesla, Boston Dynamics and a ​growing field of Chinese start-ups seeking ‌to build machines that can eventually work in factories and homes. Unitree's revenue rose more than fourfold to nearly 1.7 billion yuan in 2025. Unlike many humanoid startups, it is profitable, reporting adjusted net ‌profit of about 600 million yuan. Its overseas revenue accounted ​for more than 40% of sales during each of the reporting periods disclosed in its prospectus. Unitree ⁠has shown that China can manufacture sophisticated robots at prices far below many overseas competitors, drawing on the country's extensive supply chains for motors, ‌sensors, batteries and other components. It has also become a symbol of Beijing's drive to dominate embodied intelligence, an emerging field that combines AI models with machines capable of navigating and interacting with the physical world. But its commercial success does not yet prove humanoids can replace workers. Current demand mostly stems from universities and government-backed projects using robots ‌for education, research and demonstrations. Humanoids still struggle with reliability, dexterity and performing varied tasks ​for long periods without human intervention. Developing humanoids requires heavy spending on engineers, robot-training data, ⁠AI models and manufacturing capacity — years before demand from factories or households is ⁠certain. Therefore, public markets offer companies the capital to keep developing their technology while government support and investor interest remain strong. Leju ‌Robotics, which makes the Kuavo humanoid, filed an application in May to list on Shenzhen's ChiNext market. Shanghai-based AgiBot, another leading humanoid ​producer, began preparations for a Hong Kong IPO in July. 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.

What is Unitree and why are China’s humanoid robot makers racing to list?
North America
CNBC Finance

How NBCUniversal's deal with YouTube could jump-start the next chapter of the streaming wars

NBCUniversal's announcement this week that it's struck a content deal with YouTube Premium could jump-start a new chapter of the streaming wars — one that could be titled, "Aggregation." Under the agreement, which starts early next year, YouTube Premium subscribers in the U.S. will get Peacock Premium baked into their subscription. Peacock content, including wildly popular shows like "Love Island USA" and the Real Housewives franchise, will be available directly via YouTube — as will NBC's portfolio of live sports like the NFL and NBA. At launch, YouTube Premium's $15.99-per-month price won't change. Customers will get Peacock Premium content for no additional charge. YouTube Premium — the platform's subscription, ad-free video product — is separate from YouTube TV, its bundle of live TV networks. The company says there are 125 million global users of YouTube Premium. It doesn't break out U.S. subscribers. The deal cements a new strategy for NBCUniversal — agreeing to a streaming wholesale deal with a distribution partner that ingests Peacock content. NBCU did a similar deal with Apple TV late last year, but that bundle required customers to opt into the offering, at a cost of $14.99 per month as opposed to $12.99 per month just for Apple TV. The YouTube deal allows its existing subscriber base to get access to all Peacock content instantly without paying any more money. NBCU's decision to allow Peacock content to appear on other streaming services could serve as a template for other media companies. "Other strategies are a little more walled gardens," Comcast co-CEO Mike Cavanagh said during the company's earnings conference call last week, referring to other media companies. "Our approach is to build great businesses that serve our own platforms, but look for opportunities to partner." The point of the deal for NBCU, which is set be to spun off as a separate publicly traded company from Comcast next year, is to get Peacock in front of more eyeballs. There's a large, younger audience that spends most of its "TV" time on YouTube. Now these people can stumble upon NBCU programming in their viewing ecosystem of choice — translating into more advertising revenue. For YouTube, the deal means a more robust subscription offering in Premium. This may help YouTube in its quest to buy more live sports rights. The company lost out to Netflix to stream several live NFL games earlier this year. Still, it remains to be seen how quickly NBCU will strike deals with other platforms. The risk in striking these sorts of deals is the potential to cannibalize a company's own subscriber base by making the content available elsewhere. NBCU executives felt YouTube offered the right deal economics to assuage those concerns, according to people familiar with the matter. The NBCU-YouTube deal could help set a precedent for future streaming distribution deals. Both Netflix and Disney are considering striking wholesale deals with other media companies to bring fresh content onto their streaming services, according to public comments and media reports.

How NBCUniversal's deal with YouTube could jump-start the next chapter of the streaming wars
Europe
BBC Business

US and Japan take action to prop up yen in rare joint move

Japan and the US have confirmed that they jointly intervened last week to halt a slide in the yen after it weakened to a fresh 40-year low. The joint intervention is the first since 2011, when both countries took coordinated action to weaken the yen after the devastating earthquake and tsunami that hit eastern Japan. Both Japan's finance ministry and US Treasury Secretary Scott Bessent have said that they will not hesitate to conduct joint interventions in the future. It highlights both countries' efforts to prevent a sell-off in the yen and Japanese government bonds from having an impact on the global economy, including potentially helping to push up borrowing costs for Washington. "The United States agreed to participate in the coordinated intervention because it serves its national interests by offering the prospect of significant benefits at a low cost," Shigeto Nagai, head of Japan economics at Oxford Economics told the BBC. The two countries are expected to continue to intervene "intermittently in a coordinated manner for some time", he added. "Even if the actual amount of intervention is not particularly large, the prolonged sense of vigilance regarding intervention will be effective in deterring speculators." The yen is historically weak mainly due to Japan having much lower central bank interest rates than other major economies like the US. That makes the Japanese currency less attractive to international investors. The Bank of Japan last raised interest rates in June, as it increased its main rate to 1% - the highest level since September 1995. In comparison, the US Federal Reserve's benchmark rate is in a range of 3.50% to 3.75%. Japan also faces a decades-long slide in its working-age population, low productivity and a heavy reliance on energy imports that are priced in US dollars. On Monday, Japan's finance ministry said Friday's intervention with the US Treasury Department "countered excessive volatility and disorderly movements in the Japanese yen in recent months". The "coordinated foreign exchange actions countered disorderly yen movements," Bessent said in a social media post.

US and Japan take action to prop up yen in rare joint move
North America
CNBC Finance

Cyclospora outbreak tied to Taco Bell will steal the spotlight from Yum Brands' earnings

Yum Brands is expected to report its second-quarter earnings before the bell on Thursday, but executives will likely face more questions about how the cyclosporiasis outbreak tied to Taco Bell is hitting its business during the current reporting period. Since the Food and Drug Administration first linked the parasitic outbreak to lettuce served by Taco Bell, daily traffic to the chain's locations has plunged by double digits, according to Placer.ai data. Shares of Yum have fallen 5% over the same period, dragging the company's market value down to about $42 billion. The outbreak has sickened at least 1,947 people, with 98 hospitalizations and no deaths reported as of Friday, according to the Centers for Disease Control and Prevention. Federal health agencies have named iceberg lettuce supplied by Taylor Farms as the likely culprit. For Yum, Taco Bell's plummeting traffic is a bigger deal than just a brand struggling. The restaurant giant counts Taco Bell as one of its "twin growth engines," counting on it to power its earnings and revenue along with KFC's international business. The Mexican-inspired chain has long been the gem of Yum's portfolio, with a passionate fan base and strong same-store sales growth every quarter, even as diners have become more value conscious. Besides Taco Bell and KFC, Yum owns Habit Burger & Grill. While KFC's international business is booming, its domestic sales have slipped so much that the company no longer breaks out the fried chicken chain's U.S. sales. Habit Burger & Grill, a more recent acquisition, is much smaller with fewer than 400 locations, and is rarely spoken about on the company's earnings calls. Yum also recently divested Pizza Hut, a key piece of its portfolio that had also been struggling for more than a decade. The divestiture means even more attention is on Taco Bell, at the exact wrong moment. For the second quarter, Wall Street is projecting that Yum will report earnings of $1.58 per share on revenue of $2.2 billion, based on a survey of analysts by LSEG. Taco Bell is expected to report same-store sales growth of 7% for the quarter, which ended more than a month before the FDA linked the chain to the outbreak. But Wall Street now expects that Taco Bell and its parent company will see a tougher stretch in the back half of the year. "We think the recent outbreak likely has minimal impact on Taco Bell's Q2 results, though debate around impact on Q3 and beyond is the key driver of the stock recently," RBC Capital Markets analyst Logan Reich wrote in a note to clients on July 21. "We lower our Q3 and Q4 [Taco Bell] estimates as a result, however given the recent selloff in shares, this may create an opportunity to the degree that consumer confidence in TB's food safety is not materially impaired beyond this outbreak." Between June 30 and Tuesday, seven industry analysts revised their expectations for Yum's full-year earnings per share downward, according to a Factset survey of consensus estimates.

Cyclospora outbreak tied to Taco Bell will steal the spotlight from Yum Brands' earnings
Europe
BBC Business

The change that may help you get a mortgage as a first-time buyer

Image source, Getty ImagesByKevin PeacheyCost of living correspondentPublished4 hours agoIf you're working towards buying your first home you might feel like everything is stacked against you - but recent changes could help you get a mortgage. It hard to save for a deposit when the cost of living is so high, the average house price is nearly £300,000, external and interest rates on new mortgages are rising. However, a rule change and more flexible lending mean first-time buyers can now borrow up to six, or at the most, seven times what you earn in a year. This means mortgages will be within reach for more people but it is a shift that comes with some risk so here's what you need to know. Reckless mortgage lending was blamed for the financial crisis of 2008, which brought some banks to their knees and saw people lose their homes. In 2014, the business secretary of the time, Vince Cable, said he was appalled that some mortgage providers were lending five times a mortgage applicant's income, suggesting a stable level was up to 3.5 times. But house prices have risen significantly since, outstripping wage rises most of the time. So a bigger loan has become the only option for many potential buyers. Regulation limited how much lenders were able to lend - technically, only 15% of their new mortgages could be at higher than 4.5 times loan-to-income. Many of the big lenders played it very safe meaning they didn't get close to the limit. But those rules have been relaxed, external over the last year. Many lenders are offering bigger loans compared with your income, with niche lenders and building societies at the highest end. "The greater flexibility could mean that first time buyers that felt ownership was still out of reach may find that the amount they can borrow has changed markedly in a relatively short time," says David Hollingworth, of mortgage broker L&C. The idea of taking a big income stretch is not going to be for everyone, says Aaron Strutt, of broker Trinity Financial. "But it is tempting for many because it gives them the option to get out of renting or living with parents," he adds.

The change that may help you get a mortgage as a first-time buyer
North America
CNBC Finance

Yum Brands reports mixed results but gives no update on Taco Bell cyclospora outbreak

Yum Brands on Wednesday reported mixed quarterly results but provided no details on how the cyclospora outbreak tied to Taco Bell restaurants is affecting its business. Since the Food and Drug Administration first linked the parasitic outbreak to iceberg lettuce served by Taco Bell in mid-July, daily traffic to the chain's locations has plunged by double digit percentages, according to Placer.ai data. Yum depends on Taco Bell as a "growth engine" for the company, and the crisis puts that title in jeopardy, at least in the near term. The results Yum reported are for its second quarter ended June 30, before it was tied to the foodborne illness outbreak. During Yum's earnings conference call, which begins at 8:15 a.m. ET, executives will likely face questions about the related sales downturn at Taco Bell and any effect on its future earnings. The restaurant company does not typically provide an outlook for same-store sales growth or earnings per share for the full year or the next quarter. Other restaurant chains not implicated in the outbreak have also seen their sales slip. Chipotle Mexican Grill executives said consumers' mistrust of chains serving fresh lettuce weighed on sales in the second half of July. Yum reported second-quarter net income of $853 million, or $3.08 per share, up from $374 million, or $1.33 per share, a year earlier. Excluding charges related to its strategic review of Pizza Hut and other items, the restaurant company earned $1.62 per share. The company's global same-store sales rose 3% in the quarter, roughly in line with StreetAccount estimates of 2.9% growth. Taco Bell's same-store sales jumped 7% in the quarter. The Mexican-inspired chain has long been the top performer in Yum's portfolio. KFC reported same-store sales growth of 2%. In China, its largest market, system sales rose 6%, according to Yum. Pizza Hut's same-store sales slipped 1%. Last month, Yum announced the sale of the long-struggling pizza chain to private equity firm LongRange Capital and Yum China for $2.7 billion. 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.

Yum Brands reports mixed results but gives no update on Taco Bell cyclospora outbreak
Asia-Pacific
The Straits Times

Global factories faced weaker demand and higher costs in July as Iran war grinds on

Factories in China saw growth in new orders slow to its weakest pace since January. LONDON - Manufacturing activity in China slowed in July as the five-month-long war in the Middle East delivered weaker demand and elevated costs for the exporting powerhouse – a situation mirrored across much of Europe – surveys showed on Aug 3. The conflict has almost halted shipping through the Strait of Hormuz, a key transit route for the Gulf’s energy exports, sending manufacturers’ energy prices soaring. Factories in the world’s second-largest economy saw growth in new orders slow to its weakest pace since January, and although euro zone output surged, that was largely driven by firms clearing order backlogs rather than rising demand. The headline S&P Global Eurozone Manufacturing PMI INPMI=ECI rose to 51.9 in July from June’s 51.4, its highest reading since April but just below a preliminary estimate of 52.0. A reading above 50.0 indicates growth. “It’s a mixed bag, but with the main conclusion the euro zone economy is more resilient than feared ... but we’re clearly heading into at least a low growth environment,” said Carsten Brzeski at ING. “In the shorter term, I think it is weak but relatively sustained growth unless obviously something really bad happens in the Middle East. It’s not a situation in which the euro zone economy will all of a sudden take off and present a stellar performance.” Inflation in the common currency bloc rose to 2.9 per cent in July from 2.8 per cent a month earlier, official data showed last week, adding to an already strong case for another European Central Bank interest rate hike, which would likely add a further constraint on demand as households curtail spending. Factories across the globe faced elevated input costs last month, the PMIs showed. Germany, Europe’s largest economy, enjoyed a strong start to the third quarter as manufacturing activity expanded, but S&P Global said it was difficult to imagine this performance being sustained without a resolution to the Middle East conflict due to corresponding volatility in oil prices and uncertainty. French factory activity slipped back into contraction and Italy’s manufacturing industry saw growth slow. In Britain, outside the European Union, manufacturing activity expanded for a ninth straight month in July but at the slowest pace in four months, according to its PMI that pointed to a renewed impact from the Iran war towards the end of last month.

Global factories faced weaker demand and higher costs in July as Iran war grinds on
Asia
The Hindu BusinessLine

Retail participation in IPOs remains lacklustre as investors eye quality over listing day gains

Notwithstanding the early signs of a revival in the primary markets, retail participation in the initial public offering has remained lacklustre as investors have focused on the quality of issuances over the lure of listing day gains. Of the 12 issues that hit the market in July, the retail portion of only five companies was oversubscribed in double digits, while six companies registered single digit oversubscription. The retail portion of the ₹9,275-crore Manipal Health Enterprises -- the second biggest issue this year, after SBI Funds Management -- was undersubscribed as it received bids for only 93 per cent of shares offered. The company recorded a listing day gain of 11 per cent. The retail portion of the SBI Funds Management IPO of ₹9,812 crore was oversubscribed four times. It registered a listing day gain of 7 per cent. The funds raised and the number of IPOs in July has been the highest so far in 2026 as sentiments in the secondary markets have bounced back. In all, 12 companies raised ₹28,646 crore last month, against seven companies mopping up ₹2,718 crore in June, according to data sourced from primedatabase. Retail participation in an IPO refers to individual investors applying for shares of up to ₹2 lakh in mainboard issues. Mainboard IPOs typically reserve at least 35 per cent of the net offer for retail individual investors. Pranav Haldea, Managing Director, PRIME Database Group, said retail investors, as the SEBI study also showed, primarily come in for listing gains. With the average listing gain falling from 30 per cent in 2024 to just 6 per cent in 2026, retail participation has dwindled, as shown by the average number of IPO applications, which have declined from 18.86 lakh in 2024 to just 9.85 lakh in 2026. “Investing for listing gains is a completely acceptable strategy. My only advice to retail investors, though, would be to exit even in case the IPO lists at a discount, as they have not done any analysis on the long-term prospects of the company,” he said. Uday Patil, executive director at PL Capital said the lacklustre retail participation in the IPO can be attributed to a weak post listing performance, higher valuations, availability of alternative investment opportunities and macro-economic uncertainty. “Valuation continues to be one of the primary concerns from the retail investors’ perspective. Gone are the days when most IPOs were heavily oversubscribed only to benefit from listing gains,” he said. Gaurav Bhandari, CEO, Monarch Networth Capital, said the average listing gains collapsed to 8 per cent last fiscal from 30 per cent in FY’25, with median gains at just 3 per cent. Retail participation in India has always been a listing-gain trade, not an equity-ownership decision. Moreover, issuers and bankers price in the entire next three years of earnings, leaving no margin for the buyer, he said.

Retail participation in IPOs remains lacklustre as investors eye quality over listing day gains