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T. rex sells for $50 million, becoming the most expensive dinosaur fossil ever auctioned

A Tyrannosaurus rex specimen sold at Sotheby's for $50.1 million, becoming the most expensive dinosaur ever sold at auction. Riding a boom in dinosaur prices at auction, the T. rex, named "Gus," blew past its price estimate of $20 million to $30 million after a 10-minute bidding war between seven bidders. It broke the record sale by Sotheby's of a Stegosaurus skeleton nicknamed "Apex" in 2024 for $44.6 million, bought by billionaire hedge funder Ken Griffin. Gus was discovered in South Dakota and is about 67 million years old. Touted as one of the most complete dinosaur specimens ever found, Gus has 183 fossil bone elements and is about 61% complete by bone count. It is about 38 feet long, about 12.5 feet tall and has a skull length of 54 inches, making it one of the largest T. rex fossils ever found, according to Sotheby's. Gus also displayed a number of injuries, including fractured and healed bones in several ribs and gastralia, as well as bite marks to several skull bones. "Gus is not only an exceptional find, but a specimen that's been excavated, documented, prepared and cared for with real excellence," said Cassandra Hatton, Sotheby's vice chairman and worldwide head of science and natural history. Dinosaur fossils have become one of the fastest growing segments of the collectibles market, as the wealthy search for rare stores of long-term value and auction houses look to categories beyond art to diversify their sales. A T. rex named "Stan" sold at Christie's in 2020 for $31.8 million. While the success of Gus is likely to encourage the sale of more dinosaur bones, paleontologists and other experts warn that there are few safeguards for authenticity or verification in the industry. 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.

T. rex sells for $50 million, becoming the most expensive dinosaur fossil ever auctioned
Asia
The Hindu BusinessLine

Q1 Results Today Live: Tata Consumer con. PAT up 28.4%, ACC PAT declines 61.5%, Shriram Finance, Hindustan Zinc, SBI Life, SBI Cards, Laurus Labs Q1 profit rise, BoB, NTPC, SAIL, KFin Tech to announce Q1 results

Q1 Results Today, July 24, 2026, Live Updates: Get real-time Q1 FY27 earnings updates, profit growth, revenue numbers and management outlook of NTPC, Shriram Finance, Hindustan Zinc, SBI Life Insurance Company, CG Power and Industrial Solutions, Bank of Baroda, Lodha Developers, Tata Consumer Products, Jindal Steel & more. “We delivered yet another quarter of double-digit topline growth, backed by volume growth. Importantly, this translated to a consolidated net profit growth of 29%. The India branded business delivered robust underlying volume growth reflecting continued focus on execution, category expansion and innovation. Our ‘Growth’ businesses performed very well and have scaled their overall contribution to the India business. Tata Sampann continued to record exceptional growth driven by performance across multiple categories- dry fruits, cold-pressed oils as well as core pulses and spices. The Ready-To-Drink business delivered a strong quarter with strong performance across core brands as well as new launches. The International business continued to deliver steady performance with margins being accretive to the overall company margins. Our innovation momentum continues with 14 new launches in Q1 and a roadmap in place to fuel our growth agenda this year. We remain focused on delivering sustainable profitable growth by strengthening and scaling our core and growth businesses and building a future ready portfolio.” Shriram Finance reports a 60% net profit rise in Q1, driven by strong NII growth and MUFG Bank's strategic investment. Welspun Corp invests 26% in GGBS venture and achieves 199% profit growth, reporting ₹1,046 crore in Q1 FY27. 2) Advances growth year-on-year was at 17% and Deposits growth year-on-year was at 20%. 4) Capital Adequacy continues to be strong and as on June 30, 2026, the Capital Adequacy Ratio was at 17.03% (with Tier I at 14.90% and Tier II at 2.13% as per Basel III norms). Sensex shed 331.62 pts or 0.43% to end at 76,059.77; Nifty 50 fell 102.15 pts or 0.43% to 23,767.45. Greenply Industries Limited has announced its financial results for the first quarter ended June 30, 2026, reporting a 20.7% year-on-year growth in consolidated revenue to Rs 724.9 crore and a 27.1% increase in Core EBITDA to Rs 78.3 crore, with a Core EBITDA margin of 10.8%. Laurus Labs reports a 126% rise in Q1 net profit to ₹368 crore, driven by strong revenue growth and R&D investments. “We have commenced FY’27 with a resilient performance, driven by a higher share of trade volumes and continued premiumization. During the quarter, profitability reflected the impact of planned maintenance of larger Integrated Units, higher MSA with parent Ambuja Cements, even as we continued to prioritize value-led growth and quality earnings. Our journey towards building a simpler, stronger and more integrated business continues through the proposed One Cement Platform. Combined with strategic capacity expansions at Salai Banwa and Kalamboli, CiNOC-enabled operational excellence and customer-focused solutions, we have a good visibility of improved performance in the coming quarters. Leveraging the strength of our integrated business model and group synergies, Adani Cement at consolidated level remains committed to delivering approximately Rs 250 PMT cost reductions in FY’27.” • One Cement Platform: SEBI NOC for the proposed amalgamation of ACC with Ambuja was received on 4 June 2026, and an application has been filed with the NCLT on 29 June 2026. The transaction is expected to be completed during FY’27, subject to regulatory approvals. SBI Life continued its growth trajectory from FY 2026 into the first quarter of FY 2027, delivering a 14% increase in Individual Rated Premium, supported by a favourable shift in product mix. All product segments recorded growth on an Individual Rated Premium basis, and all key distribution channels achieved double-digit expansion. The increasing contribution from protection solutions and guaranteed non-par savings products reflects evolving customer preferences and our strategic focus. Renewal premium growth, along with improvements in the 13th- and 49th-month persistency ratios, underscores the strengthening of our customer relationships and the overall quality of our business. With its strong brand, diversified distribution network, superior service standards, and technology-led capabilities, the Company remains well-positioned to meet increasing demand across protection, savings, and retirement solutions. Our ability to consistently generate profitable new business over the years continues to support sustainable value creation for our shareholders.

Q1 Results Today Live: Tata Consumer con. PAT up 28.4%, ACC PAT declines 61.5%, Shriram Finance, Hindustan Zinc, SBI Life, SBI Cards, Laurus Labs Q1 profit rise, BoB, NTPC, SAIL, KFin Tech to announce Q1 results
Asia
The Hindu BusinessLine

How scrap is at the centre of India’s changing metals growth story

The report said the metal industry’s competitive advantage is changing, with access to scrap becoming more valuable than processing capacity alone. | Photo Credit: DANISH SIDDIQUI India's next metals growth cycle will be driven by recycling rather than mining, with scrap emerging as the industry's most strategic resource, according to a thematic report by Ashika Institutional Equities, which says the country's organised non-ferrous recycling industry is entering a multi-year structural growth phase. In its thematic report titled "Recycling: The New Ore", Ashika said the global metals industry is undergoing a structural shift as rising demand from electrification, renewable energy and infrastructure collides with resource constraints and stricter environmental regulations. "We believe that the next phase of value creation in the metals industry will be driven less by ownership of mines and more by access to scrap, sourcing networks and processing technology. This structural shift forms the foundation of our investment thesis on India's organised non-ferrous recyclers," the report said. The report said India's metals story is "shifting from mining to recycling," with rising metal consumption, resource constraints and sustainability requirements making recycled lead, copper and aluminium an increasingly important source of supply. According to the report, regulatory measures such as the Battery Waste Management Rules (BMWR) and Extended Producer Responsibility (EPR) framework are accelerating the shift from informal scrap processing to organised recycling, creating "a long term structural growth opportunity for compliant players." The report said the industry's competitive advantage is also changing, with access to scrap becoming more valuable than processing capacity alone. "Access to scrap is emerging as the most valuable asset," the report said, adding that "sourcing networks, collection capabilities and regulatory compliance will become more critical than installed capacity in determining long-term industry leadership." The report noted that companies are increasingly moving beyond basic metal recovery into value-added products such as alloys, conductors, busbars and specialty products, which could support higher margins and stronger customer relationships. "Value addition is becoming more important than metals recovery," it said, adding that the next earnings cycle will be driven by increasing the value extracted from every tonne of scrap processed rather than simply expanding recycling volumes. Among individual metals, the report said lead offers the strongest earnings visibility due to predictable battery replacement demand and regulatory support, while copper represents the biggest long-term opportunity because of widening domestic supply deficits and demand from electrification. Aluminium, meanwhile, is emerging as a key decarbonisation opportunity as recycled aluminium requires significantly less energy than primary production.

How scrap is at the centre of India’s changing metals growth story
North America
CNBC Finance

United Airlines' new upsell: Keeping other travelers out of the middle seat

United Airlines has a new way to entice customers to pay more on board: no middle seat neighbor. The carrier said Tuesday that one of the rows on its Airbus A321XLRs will have an empty middle seat with a tray table for the aisle- and window-seat customers to share. The seats, which are in the extra legroom section, go on sale later this year so it's not clear just how much more United will charge. It said it could later add them to other aircraft beyond those new, long-range narrow-body planes. The new upsell is just one of many airlines are throwing out to get customers to pay more to fly. Last week, Delta Air Lines joined United in launching basic business-class and premium economy fares that don't come with perks that used to be included in the ticket. For example, Delta will no longer include access to its top-tier Delta One lounge or seat selection with its cheapest long-haul business-class tickets. United in March also said it plans to launch a set of three economy seats that can be converted into a bed, which it's calling the "Relax Row" on some of its wide-body planes. Airlines have spent years adding more premium-class seats to make bigger business-class cabins where spending has been more resilient. The bottlenecks of ever-more-elaborate seats have even delayed deliveries of new planes. 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.

United Airlines' new upsell: Keeping other travelers out of the middle seat
Europe
BBC Business

US inflation rate eases to 3.5% as gasoline prices fall

Image source, Getty ImagesByMichael RaceBusiness reporter, Reporting fromNew YorkPublished14 July 2026, 13:36 BSTUpdated 11 minutes agoInflation in the US eased last month as the cost of energy and filling up at the pumps fell, official figures show. Prices rose 3.5% in the year to June, according to the Bureau of Labor Statistics (BLS), down from 4.2% recorded in May. Gasoline prices decreased 9.7% last month, but are still much more expensive than a year ago. On Tuesday, the national average had risen to $3.86 a gallon from $3.79 a week ago, according to motorist advocacy group AAA. While the rate of inflation has fallen more than expected, the easing of price rises could be short-lived due to the renewed conflict in the Middle East sending global oil prices up again. The price of a barrel of Brent crude, which is the global benchmark for oil, hit $87 on Tuesday, an increase of almost $10 in the space of 24 hours. The spike in the price of the commodity came after the fresh military strikes on Iran by the US this week, with President Donald Trump declaring a new naval blockade in the Strait of Hormuz and a 20% charge on all cargo being shipped through the key waterway used for global trade. The escalation has already led analysts to predict that inflation will rise in the coming months and that interest rate cuts are unlikely anytime soon. "Gasoline prices are already back above June levels, meaning the next inflation report will heat up again," said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. Ahead of his first address to the US Congress later, newly appointed Federal Reserve chairman Kevin Warsh said his committee had "no tolerance to persistently elevated inflation". "We share a resolute commitment to restoring price stability," he said in prepared comments. The Fed held US interest rates between 3.5% and 3.75% at Warsh's first meeting in June and some analysts suggest rates could be raised in the coming months. President Trump pushed Warsh's predecessor, Jerome Powell, to cut interest rates, and has made it clear he expects Warsh to fulfil his demand for reductions in borrowing costs for Americans.

US inflation rate eases to 3.5% as gasoline prices fall
Europe
BBC Business

'My buyers dropped their offer by £15,000 the day before exchange': Gazundering and how to avoid it

Image source, Getty ImagesByDan WhitworthRadio 4 Money Box reporterPublished18 July 2026, 02:14 BSTSarah was excitedly packing up to move out of the terraced house her family had outgrown to a four-bedroom home in the countryside. But the day before exchanging contracts the buyers of her house dropped their agreed offer by £15,000. "It was awful, your heart just drops to your stomach," says Sarah, not her real name. She had fallen victim to gazundering, a rare but growing problem in the property market in England and Wales, according to the Conveyancing Association, external. It is calling for government reforms aimed at tackling this and other house buying and selling issues to be brought in "without delay" instead of 2029 as planned. They were selling the three-bedroom terrace they'd renovated and buying her parents' four-bedroom detached house in the countryside. But the day before contracts were exchanged Sarah received a phone call from her "befuddled" estate agent saying he had some bad news. Their buyers said they'd done some more research about the area and would now offer £15,000 less than the price they'd agreed. "I can't even begin to go through the financial consequences [if we lost the sale]," she says. If they accepted the lower offer they would be out of pocket but if they refused there would be costs too. "We had already paid one set of legal fees but would have had to pay again if we needed a new buyer. We'd also paid the removal fees already and would have to pay again if we cancelled the moving date," says Sarah. Gazundering is when a buyer lowers their agreed offer just before contracts are exchanged. It puts a seller under pressure to accept the lower price or risk losing their sale and collapsing their property chain - potentially losing the house they want to buy.

'My buyers dropped their offer by £15,000 the day before exchange': Gazundering and how to avoid it
Europe
The Guardian

Inflation cools to 3.5% in June in relief brought by brief US-Iran peace deal

Gas prices displayed at a gas station on 7 July 2026 in Pasadena, California. Photograph: Mario Tama/Getty ImagesView image in fullscreenGas prices displayed at a gas station on 7 July 2026 in Pasadena, California. Photograph: Mario Tama/Getty ImagesInflationInflation cools to 3.5% in June in relief brought by brief US-Iran dealRecent strikes have sent oil prices climbing again, with average gas price per gallon up by 70 cents on last year Inflation cooled to an annual rate of 3.5% in June as the brief US-Iran ceasefire, which has since ended, brought energy prices down, according to new data from the Bureau of Labor Statistics. The consumer price index (CPI), which measures a basket of goods and services, has been elevated since the start of the war, largely because of higher energy prices. After mostly staying under 3% since mid-2024, CPI reached a three-year high of 4.2% in May – up from 2.4% in February. Month-over-month, CPI fell 0.8% in June, the largest one-month decrease since April 2020. Declines in the energy index were the largest contributor to the overall decline in CPI, offsetting increases in other indexes such as food, utilities and shelter. Gasoline prices dropped 9.7% from May to June and fuel oil, which includes diesel and kerosene, was down 9.2% for the month. Apparel also ticked down 0.6%. Stripping out volatile energy and food prices, core inflation – which the Federal Reserve watches closely to measure underlying inflation – decreased slightly to 2.6% on a yearly basis and remained flat from the previous month. Though the US-Iran peace agreement brought some relief to energy prices, recent strikes between the two countries have sent oil prices climbing again. Donald Trump said on Monday that the strait of Hormuz, where a fifth of the world’s oil and gas typically passes through, will remain open “with or without Iran” and claimed that the US will reinstate its blockade of Iranian ports. In turn, Brent crude, the global benchmark for oil, hit $80 on Monday just after it reached a recent low of $67 earlier in July. Prices at the pump have also gone up: the national average price for a regular gallon of gas increased to $3.87 a gallon last week, 70 cents more per gallon than a year ago. Higher energy prices have trickled into higher prices in other industries, including travel. Delta said in its quarterly earnings last week that it expected high airfares to last and has passed on 60% of its extra fuel costs to consumers. Though Trump said last month that he was not concerned about the elevated figure, surveys have shown that many Americans disapprove of his handling of the war. A recent Harris-Guardian poll found that a majority of Americans believe the economy is getting worse now compared with February, and 95% believe the country is in an affordability crisis. Despite the heightened inflation over the past few months, the American job market has remained relatively steady. The average number of jobs added to the economy from April through June was 111,000, indicating a relatively strong labor market amid economic uncertainty. The US Federal Reserve will weigh both rising prices and the labor market in their upcoming board meeting scheduled for 28 and 29 July. Last month, the central bank unanimously voted to maintain rates and emphasized its goal to deliver price stability. Inflation remains well above the central bank’s stated goal of 2%. Kevin Warsh, the new Fed chair, is scheduled to testify in Congress before the House financial services committee later Tuesday morning. Though he’s unlikely to share any insight on the central bank’s next rate-setting move, he is expected to answer questions on the state of the economy and the five taskforces he created last month. In a transcript of his opening markets shared ahead of his testimony, he said the members of the central bank’s committee have “no tolerance for persistently elevated inflation” and have a duty to take a “fresh look at current practices to make sure we are serving our objectives”.

Inflation cools to 3.5% in June in relief brought by brief US-Iran peace deal
North America
CNBC Finance

World Cup's biggest spenders show up late as semifinals drive host city travel boom

The World Cup's biggest economic boost is arriving later than expected as the tournament enters its final days. But for the U.S. businesses hoping for a soccer boom, it's better late than never. This week's semifinals pit France against Spain in Dallas on Tuesday and England versus Argentina in Atlanta on Wednesday. Travel bookings have accelerated as the field of competitors narrows and fans converge from around the world to see the high-stakes matches. Every U.S. host city has seen an economic lift from soccer fans, according to Bank of America Institute. "You can see the World Cup effect on the ground," said David Tinsley, senior economist at Bank of America Institute. "Spending picked up after the tournament kicked off, with restaurants and bars seeing some of the strongest gains as consumers turned matches into social events." In-person spending in U.S. host cities rose 5% over last year from June 10 to July 5, with Kansas City leading the gains, according to analysis from Bank of America credit and debit cards. The impact could be much higher, since the results capture only spending with BofA cards in U.S. households and does not include cash, checks and spending by international tourists or on corporate cards. Kansas City also saw the biggest weekly hotel performance gain among host markets, with revenue per available room (RevPAR) up nearly 50%, according to data from industry analysis firm CoStar. Philadelphia also saw a strong lift, with weekend RevPAR up more than 74% as its World Cup match coincided with Fourth of July celebrations and America 250 events. That was a relief to hotel owners who worried before the World Cup kicked off about soft advance hotel bookings and FIFA releasing large blocks of rooms back into the market. It's not that hotels are sold out. During the final week of the tournament's group stage, occupancy actually declined almost 3% over last year in U.S. host cities, indicating some business and leisure travelers altered their plans. But even in early stages of the World Cup, host city hotels charged 21% higher rates, according to CoStar. As the tournament moved into the knockout stage, demand from June 28 to July 4th increased 2.4% from last year and RevPaR rose 23%, despite the World Cup having 50% fewer matches than the previous week. Demand for short-term rentals also increased beside higher stake matches, according to analytics company AirDNA.

World Cup's biggest spenders show up late as semifinals drive host city travel boom
Europe
BBC Business

Why has British Steel been nationalised?

Image source, Getty ImagesByJennifer Meierhans and Shanaz Musafer, Business reportersPublished11 April 2025Updated 1 hour agoBritish Steel has been taken into public ownership after years of uncertainty over the future of the steelworks. It comes months after the UK government took control of the company's plant in Scunthorpe, Lincolnshire, though it was still owned by China's Jingye Group. British Steel's Scunthorpe plant employs 2,700 people, about three-quarters of the company's workforce. It is the last plant in the UK producing virgin steel, which is used in major construction projects like buildings and railways. It has fewer imperfections than the recycled steel made elsewhere in the country. Were the plant to stop producing virgin steel, the UK would be the only member of the G7 group of leading economies without the ability to make it. The government views that as a risk to the UK's economic security. In 2016, Tata Steel sold the loss-making part of its business that made "long products" like transport rails and steel sections for construction. Private investment firm Greybull Capital bought it for £1 and renamed the business British Steel. However, following financial collapse in 2019, British Steel was taken over by the government's insolvency service. On 16 July this year, the UK government brought it into public ownership, and Jingye is now seeking compensation for nationalisation. China's commerce ministry has hit out at the nationalisation, saying it "firmly opposes and is strongly dissatisfied with the British government's decision". In late March 2025, Jingye said the plant was losing around £700,000 a day and launched a consultation on its closure. It said the blast furnaces were "no longer financially sustainable," blaming "highly challenging" market conditions, tariffs and costs associated with moving to lower-carbon production techniques.

Why has British Steel been nationalised?