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Asia
The Hindu BusinessLine

Britannia shares close 1.96% higher after Q1 results; analysts mixed on margin miss

A production line at the Britannia biscuit factory in New Delhi;. Britannia reported consolidated net sales of ₹4,964 crore for Q1 FY27, up 9.5 per cent year-on-year, while net profit grew 14.1 per cent to ₹593 crore. | Photo Credit: REUTERS/ADNAN ABIDI Shares of Britannia Industries closed 1.96 per cent higher at ₹5,510 on the NSE on Friday, touching an intraday high of ₹5,660, as investors responded to the company’s first-quarter results for FY26-27 declared on the previous trading day. The stock opened at ₹5,502.50 against the previous close of ₹5,404, with traded volume closing at 13.43 lakh shares for the day. Total traded value stood at ₹750.54 crore. The stock remains well below its 52-week high of ₹6,336 touched in September 2025, while it has recovered from its 52-week low of ₹5,035 hit in June 2026. Year-to-date, the stock is down 8.31 per cent, underperforming the Nifty Next 50 index, which has gained 7.21 per cent in the same period. LIC shares close 1.66% higher as analysts upgrade targets after record VNB margin beat Analyst reactions were broadly cautious, with most major brokerages maintaining neutral or underperform ratings despite acknowledging improving growth momentum. JM Financial stood apart with a Buy rating and the highest target price of ₹6,355, noting an in-line revenue performance and an exit run-rate of mid-teen revenue growth. The brokerage estimated volume growth at 6-6.5 per cent for the quarter. Goldman Sachs and JPMorgan both carry Neutral ratings with targets of ₹6,000 and ₹5,900 respectively, with Goldman flagging an improving growth trajectory while JPMorgan flagged input cost volatility as a key monitorable. Morgan Stanley is Equal-weight with a ₹5,848 target, calling improving growth commentary a key positive even as margins missed. Macquarie remains the most bearish, with an Underperform rating and a ₹4,800 target, attributing the quarter’s miss to higher other expenses. The common thread across brokerages was a margin miss offset by a stronger-than-expected revenue exit rate. Britannia reported consolidated net sales of ₹4,964 crore for Q1 FY27, up 9.5 per cent year-on-year, while net profit grew 14.1 per cent to ₹593 crore. Operating profit rose 12.7 per cent to ₹761 crore, though profit margins dipped compared to recent quarters, with profit after tax at 11.9 per cent of revenue versus 13.4 per cent for the full year FY25-26.

Britannia shares close 1.96% higher after Q1 results; analysts mixed on margin miss
Asia-Pacific
The Straits Times

US Treasury intervenes to support yen after Japan steps in: Financial Times

A notepad in front of US Treasury Secretary Scott Bessent reads "To Do Buy Japanese Yen $5-10 bil" as he participates in a Cabinet meeting on July 31. NEW YORK – The United States Treasury bought yen on July 31 to support the battered Japanese currency, the Financial Times (FT) reported, marking Washington’s first intervention along with Tokyo to support Japan’s currency in more than a decade as it languishes near 40-year lows. The Federal Reserve Bank of New York conducted a sale of euros to buy yen on behalf of the Treasury through Goldman Sachs and Morgan Stanley, the FT said, citing people familiar with the matter. Earlier on July 31, the US Treasury informed a number of banks that it might intervene in the yen market and that they should “stand ready for future action”, a source familiar with the matter told Reuters. A Reuters photo of US Treasury Secretary Scott Bessent’s notepad during a Cabinet meeting at Camp David in Maryland showed the words: “To Do” followed by “Buy Japanese Yen (JPY) $5-10 bil”. The Treasury did not immediately respond to requests for comment on the FT report and the Bessent notepad photo. The New York Fed and Morgan Stanley also did not immediately respond to request for comment outside regular business hours. The US last directly supported the yen in 2011, coordinating with fellow Group of Seven nations to stabilise markets after Japan’s earthquake and tsunami disaster. News of the potential intervention by the Treasury helped boost the yen, with a notable jump during late afternoon trading. Data from LSEG showed that the US dollar dropped to about 157.6 yen just before 5pm EDT (5am on Aug 1, Singapore time) from about 158.9 yen around 4.14pm EDT. The US currency had risen in recent weeks to nearly 164 yen, its highest since 1986. Japan may have sold as much as US$58.97 billion to buy yen on July 30, central bank data indicated on July 31, signalling repeated efforts to stem the yen’s weakness.

US Treasury intervenes to support yen after Japan steps in: Financial Times
Asia
The Hindu BusinessLine

Trent shares fall 3.5% despite Q1 beat as analysts diverge on growth outlook

Shares of Trent Ltd closed sharply lower on Friday, ending the session at ₹2,997 on the NSE, down 3.54 oer cent or ₹110.10 from Thursday’s close of ₹3,107.10. The stock touched a low of ₹2,985.60 intraday before recovering marginally. Total traded value for the day stood at ₹745.66 crore, with 24.69 lakh shares changing hands. The stock’s decline came a day after Trent posted Q1FY27 standalone results that beat analyst estimates on most metrics. Revenue rose 18.5 per cent year-on-year to ₹5,666 crore, EBITDA surged 33 per cent to ₹847 crore with margins expanding 208 basis points to 19.6 per cent, and PAT grew 26 per cent to ₹532 crore. Gross margins came in at 46.6 per cent, up 149 basis points year-on-year, surprising most brokerages on the upside. Analyst reactions were broadly positive but divided on valuation. Morgan Stanley maintained Overweight and raised its target to ₹3,406. Motilal Oswal and Axis Direct both reiterated Buy with targets of ₹3,775 and ₹3,640 respectively, citing strong margin execution and store expansion. Macquarie (Outperform, ₹3,600) and Bernstein (Outperform, ₹3,500) also saw Q1 as a beat, with Macquarie attributing the gross margin strength to a rising share of Westside, which carries higher margins. However, not all brokerages were bullish. Jefferies maintained Hold with a revised target of ₹3,435, noting that like-for-like growth remained muted in the low single digits, partly due to store densification. Citi held its Sell rating with a target of ₹2,950, arguing that while margins have surprised, an acceleration in revenue growth is needed to justify current valuation multiples. The stock’s trailing PE on NSE stood at 91.3 at close. On store additions, Trent opened one Westside and 22 Zudio stores in Q1FY27, taking its network to 301 Westside and 982 Zudio outlets. Over 80 per cent of new Zudio stores were in Tier-II and III cities. Management flagged near-term input cost pressures from raw material inflation and geopolitical uncertainty in West Asia, but said value chain interventions and supplier engagement would help absorb the impact. The stock has lost nearly 15 per cent over the past year but remains up about 4.6 per cent year-to-date, against a roughly 6 per cent decline in the Nifty 50. Its 52-week range spans ₹2,184 to ₹3,783. 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.

Trent shares fall 3.5% despite Q1 beat as analysts diverge on growth outlook
North America
CNBC Finance

Visa is cutting 7% of employees in efficiency push as AI reshapes work

Visa, which runs the world's largest payments network, plans to cut about 7% of its workforce as CEO Ryan McInerney moves to streamline the company and invest more in growth areas, according to a memo confirmed by CNBC. The company plans to eliminate roughly 2,600 positions, mostly in its technology and product operations, according to the memo. CNBC confirmed the contents of the memo, which was reported earlier by Bloomberg, with a person with direct knowledge of the matter. Impacted employees will start to be contacted on Tuesday for next steps and transition assistance, said the person. "To capture the opportunities ahead and best position Visa to lead this transformation, we must continue evolving how we work," McInerney wrote. "AI is also helping to accelerate this evolution and shape the way work gets done at Visa." The layoffs come as companies across the financial and technology sectors increasingly use artificial intelligence to automate technical work like software development, while seeking to rein in costs after years of rapid hiring. Visa had about 34,100 employees at the end of its last fiscal year. While AI played a significant role in the layoffs, it wasn't the sole driver, according to the person with direct knowledge of the matter, who declined to be identified speaking about the changes. Visa wants to invest more in what it views as growth areas, including its emphasis on affluent customers, cross border activity, business payments, stablecoins and geographic expansion, said the person. "As a result of the choices we have made over the past few years, we are entering a new era in commerce with a business that has real momentum," McInerney wrote, citing good financial results and client satisfaction. 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.

Visa is cutting 7% of employees in efficiency push as AI reshapes work
Europe
The Guardian

BTS are back: return of K-pop superstars sparks US economic boom

Fans at a BTS exhibition in Seoul in March. Photograph: Soo-hyeon Kim/ReutersView image in fullscreenFans at a BTS exhibition in Seoul in March. Photograph: Soo-hyeon Kim/ReutersBTSBTS are back: return of K-pop superstars sparks US economic boomCities in North America hosting 14 concerts in August and September – and economic impact is set to be significant BTS’s “Army” fanbase is descending on New York this weekend as the K-pop supergroup continues their first world tour after a four-year hiatus, sparking an economic boom wherever they land. After shows in South Korea and Europe, the group are back in North America, with 14 shows in six US cities in August and September. Following the rollout of BTS’s sixth album, Arirang, in March, fans have proved they are willing to spend. In Las Vegas, concertgoers who attended four sold-out shows in May generated an estimated $340m in economic activity, with events at huge hotels on the strip and at tiny Chinatown cafes. HYBE, the group’s label, has partnered with local businesses and cultural centers for the “BTS The City – Arirang” project in select cities, offering exclusive BTS programming for concertgoers. Ahead of two concerts at New Jersey’s MetLife Stadium on 1 and 2 August, fans can follow a map of activities, landmarks and eateries that celebrate the group. Manhattan’s Koreatown is bracing for thousands of fans. The economic impact of BTS concertgoers is expected to match that of soccer fans who crowded MetLife Stadium for the World Cup final – which included a BTS performance – a few weeks ago. BTS will “easily compare [to] or even exceed Fifa’s economic impact just on average spending”, said Michael Mariano, head of economic development at Tourism Economics. The group’s return has been a boon for HYBE, which reported a record-high revenue of $993m this past quarter. View image in fullscreenBTS merchandise at a pop-up store in Seoul. Photograph: Kim Hong-Ji/ReutersThe Korean Cultural Center New York will serve as the hub for fan activities. Participants who nabbed a coveted reservation can try on K-beauty products, sample desserts from Tous les Jours, a South Korean bakery chain, and customize the light sticks they’ll bring to the concert, known as “Army bombs”. “K-pop can serve as a gateway to learning the Korean language and discovering Korean beauty, food, technology, tourism and other aspects of Korean culture,” said Bora Yoon, visual arts manager at the center. The Arte Museum, which houses large-scale digital art, is hosting a special BTS exhibit that will feature music and digital art celebrating the group’s music. The museum expects a high demand for the exhibit, which will immerse BTS fans in “all five senses”, said Sang Jin Lee, head of the creative team and vice-president of d’strict, a creative design company that owns the Arte Museum.

BTS are back: return of K-pop superstars sparks US economic boom
Europe
BBC Business

BP puts North Sea business up for sale

Image source, WPA PoolByShanaz MusaferBusiness reporterPublished31 July 2026, 08:48 BSTUpdated 2 hours agoBP has said it is putting its North Sea business up for sale in a move that would end 60 years of production in the region by the oil giant. The decision follows a review of BP's operations as it seeks to slim down the group. Its North Sea business has five production hubs - two in the central North Sea and three west of Shetland - and employs about 1,100 people. Earlier this week, Prime Minister Andy Burnham said he told US President Donald Trump he would take a "pragmatic approach" to the issue of North Sea oil and gas. Trump, some trade unions, industry figures and some Labour MPs all back increased drilling in the North Sea. "The UK has been our home for more than 100 years and will continue to play an important role in our future," BP chief executive Meg O'Neill said. "We're proud of the jobs we create, the contribution we make to the UK economy, and the work we do to keep energy flowing every day," she said. The company said it remained committed to operating the business safely and reliably throughout the sale process. Its North Sea business produced 117,000 barrels of oil equivalent per day in 2025, a small fraction of the oil giant's 2.3 million barrels of daily production. O'Neill, who took the helm at BP in April, said earlier this year there was "untapped potential" in the North Sea. However, in announcing Friday's decision she said: "As we focus our portfolio and direct capital to our highest-value opportunities, we believe our North Sea business will be better positioned as part of another company. "It has world-class people, resilient assets and a proud heritage, and it is precisely these qualities that can attract an owner ready to back its next chapter. We are seeking an outcome that recognizes that value." The sale could potentially bring in £2bn to BP. Last month, the FT reported the company was in talks with Ithaca Energy to sell its North Sea assets for around this amount, although the talks fell through.

BP puts North Sea business up for sale
North America
CNBC Finance

Boeing posts bigger loss than expected as Air Force One costs weigh on results

Boeing reported a bigger-than-expected loss for the second quarter as the aircraft manufacturer's long-delayed Air Force One program weighed down results. Boeing took a $280 million loss on the program to deliver two 747s that will serve as the next generation Air Force One aircraft to the U.S. government as it said it ramped up investment for that plane. It said it still expects the first delivery in 2028. "While we're making progress on our development programs, you're never done until you're done," CEO Kelly Ortberg said in a note to staff. The aircraft manufacturer, a top U.S. exporter, increased revenue 8% in the second quarter to $24.56 billion from a year earlier with gains across its businesses, including increased deliveries of commercial aircraft. Boeing has been ramping up production of its best-selling 737 Max airplanes to 47 a month, with further increases planned. Boeing's commercial aircraft deliveries in the second quarter rose 14% from a year earlier to 171 planes from 150 a year earlier. Free cash flow of $631 million came in well above the $177 million cash burn analysts expected, and compares to $200 million burn in the second quarter a year ago. Boeing reported a net loss of $428 million, or 67 cents a share, compared with a net loss last year of $612 million, or 92 cents a share. Adjusting for one-time items, Boeing reported a loss of 76 cents a share. "While two quarters don't make a year, if we work together and stay focused on safety, quality and on-time performance — we'll improve our competitiveness and set ourselves up for a big second half," Ortberg said in the staff note. Upcoming milestones include the certification of other delayed aircraft programs. First will likely be the Boeing 737 Max 7, the smallest aircraft in the family of planes. Boeing executives will hold a call with analysts at 10:30 a.m. ET, where they'll likely face questions about certification of the 737 Max 10 and the 777X, its new wide-body aircraft. 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.

Boeing posts bigger loss than expected as Air Force One costs weigh on results
Europe
BBC Business

Snapchat joins other popular platforms in fight against 'AI slop'

Image source, ReutersImage caption, Snapchat is trying to tamp down on AI-generated videos. Snapchat has joined the likes of YouTube, LinkedIn and Substack in a growing effort to combat fake writing, images and videos that are entirely created by artificial intelligence (AI) tools. Such content, commonly called "AI slop", has proliferated online as the tech industry has raced to create a greater number of easier to use generative AI tools that can create anything from essays to realistic videos. Snap, the parent company of Snapchat, said on Friday that the platform would stop recommending "wholly AI-generated videos" in its popular Spotlight feed in favour of "authentic, human-made content." Over the past two weeks, YouTube, LinkedIn and Substack have unveiled similar strategies. Snap did not go so far as to try and prohibit all AI-generated content from Snapchat. The platform offers its own AI tools to alter content, and so AI "enhanced or edited" content will still be part of its recommendations to users. However, Snap acknowledged that entirely AI-generated content is typically "low-quality", "repetitive", and generally not what Snapchat users want to see. Recent research into the reception of AI-generated content shows that people tend to agree, external with those descriptions. Moreover, the more fake AI-generated content that people see in a social media feed, the less likely, external they are to think that any of the content they're being shown online is genuine, according to a separate survey. As Chris Best, the co-founder and chief executive of Substack put it last week: "It's getting harder to tell what's real on the internet." LinkedIn, a social media platform focused on work, introduced a button on its platform this week that allows any user to report if a post or a comment appears to be AI-generated. "AI slop is a top priority for all of us," LinkedIn's chief product officer Hari Srinivasan wrote on the platform.

Snapchat joins other popular platforms in fight against 'AI slop'
North America
CNBC Finance

NBCUniversal and YouTube ink deal to embed Peacock in the video platform for premium subscribers

All of the streaming service's content — including NBC Sports' portfolio of the NFL and NBA, Universal films like the Minions franchise, and original Peacock and Bravo content like the Real Housewives franchise and "Love Island USA" — will be included in YouTube Premium subscriptions in the U.S. starting early next year. Google's YouTube Premium is the subscription version of the streaming platform that offers videos without ads and the ability to download most videos, depending on the subscription tier. The service offers a variety of plans beginning at $8.99 per month. Peacock Premium currently costs $10.99 per month. "The first principle for us was, does this accelerate Peacock's long-term growth? And the answer to that is yes," said Matt Strauss, chairman of NBCUniversal media group, in an interview. "Peacock will now be one of the largest domestic streamers. It's going to significantly expand our reach." NBCUniversal's partnership with YouTube was formed after Comcast co-CEO Brian Roberts reached out to YouTube CEO Neal Mohan about nine months ago, according to a person familiar with the matter. Following a meeting between the executive teams that took place at Google offices, the two companies began to brainstorm partnerships such as this, the person added. The partnership comes at a fast-moving moment in the industry. Traditional media companies like NBCUniversal, Warner Bros. Discovery and Disney have been chasing business initiatives to boost revenue and profitability while tech platforms like YouTube and TikTok grab increasing share of viewership time. Media companies have also been shapeshifting as the business model changes due to consumers' departure from pay-TV bundles in favor of streaming. Paramount Skydance has agreed to acquire WBD; Fox Corp. reached a deal to acquire Roku; and Comcast is preparing to spin off NBCUniversal in the next year. While streaming services have been announcing a growing slate of bundles to grab more subscribers, this partnership goes a step further and will see Peacock's content live inside YouTube — or be ingested into the platform so viewers don't have to leave YouTube to access the content. Peacock has already signed deals with other streaming and tech platforms including Apple and Amazon. During an earnings call with investors last week, Comcast co-CEO Mike Cavanagh said while other media companies have taken a so-called "walled garden" path with their content, NBCUniversal will continue to "look for opportunities to partner, bundle and exhibit other people's [intellectual property]" across its theme parks and media platforms. While NBCUniversal's announced spinout from Comcast has raised industry hopes for more mergers and acquisitions, Cavanagh and others have poured cold water on the notion, focusing on potential partnerships and bundles instead. YouTube has long been considered a dominant force in streaming, as it claims a large share of viewership time as showcased in Nielsen's monthly "The Gauge" report. So-called creator-made videos — a category that amasses millions of viewers on YouTube — are becoming more attractive to media companies like NBCUniversal as they chase reliable and dedicated audiences. The category even hit the stage at this year's annual Upfront advertising presentations.

NBCUniversal and YouTube ink deal to embed Peacock in the video platform for premium subscribers