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Europe
BBC Business

Chinese firm seeks compensation over British Steel nationalisation

Image source, PA MediaByRachel Clun, Business reporter and Meghan Owen, Business correspondentPublished1 hour agoThe former owner of British Steel has said it will pursue the British government for compensation after the loss-making firm was nationalised. The UK took control of the Scunthorpe steelworks a year ago after China's Jingye Group said it planned to close the site because it was not financially viable, and fully nationalised the plant on Thursday. In a statement on Sunday, Jingye said it will seek "full compensation through legal means to the very end" over the UK's move. A government spokesperson said draft compensation regulations due to be released in the autumn will set out a compensation process through which an independent assessor "would determine what, if any, is payable". Jingye bought the Lincolnshire steel plant in 2020, but in March last year the firm launched a consultation on its closure saying the plant was losing £700,000 a day. The government took control of British Steel operations in April 2025, but until this week it remained under Jingye's ownership which limited the government's ability to shape the firm's future. On Thursday the UK government said it was taking the firm into public hands in order to safeguard a "vital national capability", giving the government the power to decide the plant's future. The decision to nationalise British Steel has threatened to strain the relationship between London and Beijing just as Andy Burnham prepares to enter Downing Street as prime minister on Monday. China hit out at the nationalisation of British Steel on Friday, saying it "firmly opposes and is strongly dissatisfied with the British government's decision". China's commerce ministry said the move "seriously infringed" upon Jingye's rights and interests, and "severely undermined the confidence of Chinese companies investing in the UK". The statement added that Beijing would support Chinese firms to protect their rights, but did not detail what that might involve. A UK government spokesperson said on Friday that commercial negotiations with the Chinese steelmaker had failed to reach an agreement "that represented value to the taxpayer".

Chinese firm seeks compensation over British Steel nationalisation
Asia
The Economic Times

10 midcap stocks with massive upside potential up to 70%! Do you own any?

Analyst forecasts are more than just numbers, they provide a forward-looking perspective on market potential. For investors looking for the next breakout opportunities, a fresh analysis of BSE Mid-Cap stocks reveals several compelling prospects.Based on market analysts' consensus estimates, Trendlyne data indicates that several midcap stocks are expected to deliver strong returns over the next 12 months. This projected upside reflects the average anticipated gain during this period, offering a data-driven roadmap for investors exploring high-potential midcap opportunities. We highlight 9 standout midcap stocks with an estimated upside potential ranging between 35% and 70% in the coming year. Patanjali Foods is currently trading at Rs 340. Based on analyst estimates, the stock has a target price of Rs 588, indicating a potential upside of 72.68%. Among the 4 analysts covering the stock, the consensus rating is Strong Buy. Gujarat Energy is currently trading at Rs 265.45. Analysts have set a target price of Rs 427, implying a potential upside of 60.90%. Out of 28 analysts covering the stock, the consensus rating is Buy. AWL Agri Business is currently trading at Rs 188.16. The consensus target price stands at Rs 267, suggesting a potential upside of 42.10%. Among 6 analysts tracking the stock, the consensus rating is Buy. Crompton Greaves is currently trading at Rs 250.15. Analysts have given a target price of Rs 344, reflecting a potential upside of 37.50%. Of the 34 analysts covering the stock, the consensus rating is Strong Buy. Max Financial is currently trading at Rs 1,515.50. Based on analyst estimates, the stock has a target price of Rs 2,065, implying a potential upside of 36.30%. Among 26 analysts covering the stock, the consensus rating is Strong Buy. Indian Railway Catering is currently trading at Rs 495.05. Analysts have set a target price of Rs 674, indicating a potential upside of 36.20%. Out of 9 analysts tracking the stock, the consensus rating is Buy. Vishal Mega Mart is currently trading at Rs 108.04. The consensus target price is Rs 147, suggesting a potential upside of 36.20%. Among 18 analysts covering the stock, the consensus rating is Strong Buy. Go Digit Insurance is currently trading at Rs 256.20. Based on analyst estimates, the stock has a target price of Rs 346, implying a potential upside of 34.90%. Out of 10 analysts covering the stock, the consensus rating is Buy. Sun TV Network is currently trading at Rs 486.90. Analysts have given a target price of Rs 655, indicating a potential upside of 36.30%. Among 11 analysts tracking the stock, the consensus rating is Buy.

10 midcap stocks with massive upside potential up to 70%! Do you own any?
Europe
BBC Business

Is Burnham promising a new dawn for North Sea oil and gas?

Image source, PA MediaByKevin KeaneScotland energy correspondentPublished19 July 2026, 08:58 BSTUpdated 1 hour agoThe final weekend before Andy Burnham enters Downing Street is being dominated by suggestions he'll announce plans for new drilling in the North Sea. On Saturday, the BBC reported the in-coming prime minister would stick to the party's 2024 manifesto pledge to issue no new oil and gas licences but would honour existing ones. That line has been confirmed as the hours count down to the Burnham premiership. Speaking on Sunday with Laura Kuenssberg, Labour's deputy leader Lucy Powell said Burnham would stick to the party's manifesto commitments, but there would be a "change of emphasis" on North Sea oil and gas. "We've been really clear that the way to achieve in the long term energy security and lower bills is by ensuring that we do have our own homegrown, clean, much cheaper energy," she said. "But we've been absolutely clear that North Sea gas and oil is an important part of that transition. "It's an important part of the mix, and I think what Andy's talking about is taking a more pragmatic approach and working with the industry to make sure that it can contribute to that [energy] transition and to the mix that is needed over the long term." Just how all this is squared up will, hopefully, become clear in the coming days and weeks. There is one thing we can be confident about now - the new prime minister won't be confirming approval for the controversial Rosebank and Jackdaw fields on day one in the job. The operators of those fields were given the go-ahead by the previous Conservative government but those decisions are having to be reconsidered because of a successful legal challenge. Environmental groups Greenpeace and Uplift argued that ministers had not considered the full climate impact from burning fossil fuels which the fields would produce. Despite both sites having production facilities in place, a lengthy process is still underway by the Offshore Petroleum Regulator for Environment and Decommissioning (Opred).

Is Burnham promising a new dawn for North Sea oil and gas?
Asia
The Hindu BusinessLine

TCS, Infosys, HCL Tech, Wipro and Tech Mahindra: IT’s a chasm between management and investors

A relentless stock rout reflects an unanimously negative market sentiment on IT services stocks. As another lacklustre earnings season from IT services companies concludes, the contradictions between managements and investors have already been starker. From global industry leader Accenture, which reported results last month, to Infosys, which reported last week, managements remain steadfast in arguing that AI is a tailwind for the industry, judging by their commentary during earnings calls. They have maintained this view for nearly three years. That none of this optimism has translated into the financial numbers is another matter altogether. Meanwhile, a relentless stock rout reflects an unanimously negative market sentiment on IT services stocks. Investors, who initially drank the Kool-Aid after ChatGPT’s launch, are now nursing a hangover, demanding credible proof that AI will actually drive growth for IT services companies. A week prior, Anand Mahindra, Tech Mahindra Chairman, tried to bridge this trust deficit while speaking at the company’s annual general meeting when he said, “The role of IT services will not diminish. It will change. In many ways, it will become more important.” However, the evidence points in the opposite direction. IT services have occupied a relatively smaller share of global technology budgets over the past three years, and forecasts suggest that the trend is unlikely to reverse anytime soon. The USD revenue growth estimate for next two years (FY26-28) for IT majors — TCS, Infosys, HCLTech, Wipro and Tech Mahindra — remains muted at a CAGR of 1.8, 1.9, 2.7, 0.2 and 3.8 per cent, respectively (Bloomberg consensus estimate). Who is right? To answer that, investors should revisit the industry’s previous disruption and the transformation that followed. The successful shift from the legacy-focused business to a digital- and cloud-led one in the previous decade is often cited as a proof to convince the naysayers this time. But a closer analysis of the transition indicates there are two sides to it. The last 15-16 years can broadly be divided into four phases: FY10-15 (Phase 1), when outsourcing accelerated as global corporations cut costs after the global financial crisis; FY15-18 (Phase 2), when the digital and cloud disruption unsettled the industry and growth slowed; FY18-23 (Phase 3), when the transition was largely complete and digital business thrived (Covid notwithstanding); and FY23-26 (Phase 4), when AI has triggered the most disruptive technological shift yet. While success of the industry in adapting to the structural technology shift in the previous decade is commendable, what also stands out is the impact it has had on growth and margins.

TCS, Infosys, HCL Tech, Wipro and Tech Mahindra: IT’s a chasm between management and investors
Asia
The Hindu BusinessLine

What they say on their India plans

With India being the fastest growing large economy, ‘what is your India plan?’ is a common topic in boardrooms of most global corporations. One important source to distil their India plans is from their quarterly earnings calls. This column will present what CXOs of global corporations are saying about India, along with their perspectives and plans during the current earnings season. With the June quarter earnings season in progress, here are some from companies that reported their earnings last week. The injectable drug-packaging company identified India as its second-fastest-growing market, supported by new biosimilar approvals and increasing demand for GLP-1 products. “India is currently our second-largest geographic growth engine after China. Growth is broad-based but led by generic and biosimilar GLP-1 products, where we are participating in several newly-approved Indian programmes and will scale alongside our customers.” The aerospace major opened a helicopter assembly line in India to expand capacity and serve rapidly-growing civil and military demand. “We opened a new assembly line in India as helicopter demand accelerates across both civil and military markets. The facility expands our production capacity and adds India to our global assembly footprint alongside France, Germany, the US and Brazil.” The automotive component supplier is expanding Indian manufacturing for electric powertrains and camera systems, targeting a three-fold increase in local sales by 2028. “We are investing in a new 3-in-1 e-Axle production line for Mahindra and a high-definition surround-view camera line for local OEMs. We expect India sales to reach €700 million by 2028, three times the 2024 level, and remain on track.” The consumer goods major expects India to remain a key growth driver, sustaining double-digit growth even as favourable sales-tax comparisons begin to normalise. “India continues to benefit from the sales-tax change, although this tailwind will begin to lap in Q3 and comparables are becoming tougher. Nevertheless, we still expect double-digit growth and see India as an important growth driver.” The diversified industrial company reported a seventh consecutive quarter of double-digit growth in India, supported by expanded sales coverage and a dedicated local organisation. “India led double-digit growth across Asia, extending its growth streak to seven consecutive quarters. Increased sales coverage and a hybrid organisational model combining global business groups with a dedicated India-based team are driving the performance.” The beverage-can manufacturer plans to invest approximately $250 million in a new Indian plant with two high-speed production lines, supported by long-term customer commitments.

What they say on their India plans
Asia
The Economic Times

Mutual fund NFOs: 5 new funds will open for subscription this week. Check dates and key details

Five new funds will open for subscription this week. Fund houses introduce new schemes to complete their bouquet of existing offerings. Here is a detailed break-up (Source: ACE MF). These five funds will be passive in nature. Of the total, four will be ETFs and one will be a FoF (domestic). Invesco India Nifty Bank ETF and Invesco India BSE Sensex ETF open for subscription on July 28 and close on August 11. The minimum investment amount in both funds will be Rs 5,000. SBI Nifty Midcap 150 Momentum 50 ETF FOF opens for subscription on July 27 and closes on August 5. The minimum investment amount will be Rs 5,000. Edelweiss BSE LargeMid (60:40) Stable Dividend 50 ETF opens for subscription on July 27 and closes on July 29. The minimum investment amount will be Rs 5,000.

Mutual fund NFOs: 5 new funds will open for subscription this week. Check dates and key details
Asia
The Economic Times

Equity mutual funds delivered up to 7% return last week, international funds lead. Check top 5 with over 2% gain

Equity mutual funds delivered up to 7% return in the past week (July 20 to July 24), with international funds leading the performance chart. Here are the top 5 performers with gains of over 2% (Source: ACE MF). Nippon India Taiwan Equity Fund posted the highest return of around 6.56% during the period. Kotak Global Emerging Market Overseas Equity Omni FOF generated a return of 4.26% in the same period. DSP World Mining Overseas Equity Omni FoF reported a return of 3.84% in the same period. PGIM India Emerging Markets Equity FoF delivered a return of 2.89% during the mentioned period. The remaining 607 funds delivered returns ranging between -3.61% and 1.62% in the same period.

Equity mutual funds delivered up to 7% return last week, international funds lead. Check top 5 with over 2% gain
North America
CNBC Economy

China posts slowest quarterly growth since 2022 as investment slumps, fanning stimulus calls

China's economy in the second quarter expanded at its weakest pace since the fourth quarter of 2022, reinforcing calls for policy stimulus as an accelerating slide in investments deepened the strain on growth, while consumption stayed subdued. Gross domestic product growth came in at 4.3% in the April to June period, data from the National Statistics Bureau showed Wednesday, missing economists' forecast for 4.5% growth in a Reuters poll, and slowing from 5% in the first quarter. That second-quarter growth came below Beijing's full-year growth target range of 4.5% to 5%, the least ambitious goal in decades, amid tensions with trade partners, including the U.S. and the European Union, and sluggish domestic demand. Given the disappointing growth, Tianchen Xu, senior economist at Economist Intelligence Unit, expects stimulus measures to be ramped up in the third quarter, including a policy rate cut to stimulate investment demand. Urban fixed-asset investment, including real estate development and infrastructure projects, declined 5.7% in the first six months from a year earlier, worse than expectations for a 4.9% drop in a Reuters poll. Xu attributed the steepening investment slump to local governments channeling resources into debt restructuring and a shortage of eligible projects in the pipeline. "Boosting infrastructure investment will be a key focus for stabilizing growth." Beijing's campaign to rein in excess capacity and end bruising price wars will also weigh on private investment in the near term, said Sarah Tan, economist at Moody's Analytics. The investment in real estate, infrastructure and manufacturing plunged 18%, 2.4% and 1.2%, respectively, according to the official data. In June, China's retail sales grew 1%, rebounding from a 0.6% drop in the prior month and exceeding economists' forecast for a 0.1% fall. Retail sales in May posted their first monthly decline since late 2022, dragged down by tepid demand and merchants' steep discounting. Industrial output expanded 5.3% in June from a year ago, stronger than the forecast 4.7% growth, and gaining pace from 4.5% expansion in May. Chinese economy has grappled with a deepening supply-demand imbalance. Robust industrial production and exports tied to the global AI investment boom continue to power headline growth, even as consumption and private investment weakens amid a prolonged property downturn and volatile energy prices. The statistics bureau noted "acute" imbalance between excess supply and sluggish demand, urging policymakers to step up "counter- and cross-cyclical adjustments."

China posts slowest quarterly growth since 2022 as investment slumps, fanning stimulus calls
North America
Yahoo Finance

Inflation Risks Flare Up Ahead of Crucial Week for Wall Street

Federal Reserve interest-rate hikes are back in focus this week, thanks to rising inflation concerns following another surge in crude-oil prices. The U.S. and Iran traded fresh strikes over the weekend, and continued to dispute control of oil and energy flows through the Strait of Hormuz, after the breakdown of peace talks aimed at ending a conflict that has simmered for more than 4½ months. U.S. Central Command said around 140 Iranian targets were hit, while military officials from Tehran launched strikes on U.S. bases in the Gulf region, as well as a Kuwait-owned drilling installation.

Inflation Risks Flare Up Ahead of Crucial Week for Wall Street