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Europe
BBC Business

Three things you can do to stop EU border checks at the airport costing you

ByKevin PeacheyCost of living correspondentPublished4 hours agoIf you're heading to Europe this summer you need to be prepared for queues caused by the EU's new border control system - or it could end up costing you more money. UK travellers have to register fingerprints and a photo when you scan their passport as part of the Entry/Exit System, or EES. The extra time this takes, as well as some technical glitches, have meant long delays at some airports. Some holidaymakers have missed their flights and had to pay for another ticket. Here are three things experts say you must do before you travel to Europe to avoid any additional costs as a result of the new checks. Building in plenty of time to check in and complete the EES registration steps will help you to avoid missing your flight. The UK boss of budget airline Wizz Air told the BBC that British holidaymakers should arrive at European airports three hours before their flight home departs. Other airlines such as Jet2 and Ryanair have suggested the same, depending on the airport. However, Eurostar advises passengers to arrive at the station at the recommended time stated on your ticket, external as it already takes EES steps into account. At the Port of Dover, technology issues have prevented the new system from being used. It is advising passengers to arrive no more than two hours before their ferry departure. It warned arriving too early could cause queues to build up. Top tip: Check arrival time advice with your airline, ferry or rail company in advance and build in your travel from home. Airlines and travel providers will send out messages to let passengers know of current waiting times and any changes so it's important you are signed up to receive them. "Airlines typically notify passengers of significant delays. We also advise passengers to always check directly with their airline before heading to the airport to allow enough time for security checks and reaching their departure gate," the Civil Aviation Authority says. Most airlines have an app you can download in advance to receive alerts and it's also worth checking you're signed up to get texts and that emails don't go into your junk folder.

Three things you can do to stop EU border checks at the airport costing you
North America
CNBC Finance

Ford CEO wants level playing field with Toyota, GM imports as USMCA trade talks reopen

DETROIT — As negotiations officially reopen for the USMCA North American trade deal, Ford Motor CEO Jim Farley is clear about what the automaker wants under the new talks: a more level playing field. He told CNBC he wants automakers such as Ford that largely produce their vehicles domestically to be awarded under the deal. Along with that, Farley said other automakers — such as General Motors and Toyota Motor — that may produce here but also heavily rely on imported vehicles should get more penalties. "It's imperative that any new agreement makes it easier, not harder, to compete with U.S. makers who import from Japan, South Korea and global competitors that import from those locations," Farley told CNBC during a phone interview Wednesday. "That's the key for us." GM and Toyota are No. 1 and No. 2 in U.S. sales, respectively, while also being the top two importers of vehicles in 2025. GM imported 1.17 million vehicles, or 41% of its U.S. sales, while Toyota imported more than 1.19 million units, or 47%, of its domestic sales, according to industry data. Hyundai Motor, which plans to roughly double its amount of U.S.-produced domestic sales to 80% by 2030, was the largest importer of vehicles from South Korea, followed by GM. Ford, meanwhile, reports it assembled more than 2 million vehicles in the U.S. last year — more than any other auto manufacturer, including 311,000 units for export to more than 60 international markets. It imported 378,000 vehicles, or 17%, of its 2.2 million sales last year. "Ford's a leader of U.S. auto production with the most U.S.-built vehicles but, more importantly, we import very few, and we export the most, and we have the most UAW [union] workers here," Farley said. "So we're very proud, especially of the ratio between what we build here and what we import." Farley's comments come as the Trump administration has decided not to renew its trilateral trade pact with Canada and Mexico, instead opting to conduct annual reviews of the treaty that could eventually lead to an end to the agreement by 2036. The auto industry represented about 18% of America's trading with its neighboring countries last year, according to industry data, making it one of the key sectors in the discussions. Automakers and others watching the talks are concerned that reopening the deal could create additional trade uncertainty that leads to lower investments and fewer jobs. A consortium of U.S. trade groups representing most automakers, dealers and suppliers on Wednesday voiced support for a trilateral deal like the countries currently have. "We urge the leaders of the U.S., Canada, and Mexico to swiftly reach consensus on an extension of USMCA that preserves the existing trilateral partnership, returns to preferential treatment for qualifying goods, and continues the stability and predictability that has helped the industry thrive for the past six years," they said in a statement.

Ford CEO wants level playing field with Toyota, GM imports as USMCA trade talks reopen
Asia
The Hindu BusinessLine

Honda eyes sub-4 metre SUV, EV push to drive growth

Honda Cars India is preparing to enter India’s highly competitive sub-4 metre SUV segment in 2028 as part of a broader strategy to regain market share. This reflects the structural shift in India’s passenger vehicle market, where compact SUVs have emerged as the fastest-growing category, Kunal Behl, Vice-President, Sales and Marketing, Honda Cars India Ltd, told businessline.. “The sub-4 metre space was missing from our portfolio. It is important for us to be present in both SUV segments,” he said. Hatchbacks have been shrinking at a compound annual growth rate (CAGR) of around 4 per cent over the past five years, while sub-4 metre has grown by more than 20 per cent annually, he added. The proposed compact SUV will be offered with multiple power train options, although Honda has not disclosed whether these will include petrol, hybrid or battery electric variants. Behl said Honda is also accelerating its electrification roadmap with plans for its first India-developed Battery Electric Vehicle SUV to be launched in the second half of the current financial year. Honda plans to offer petrol, hybrid and battery electric vehicles based on customer preferences while continuing to stay away from diesel, he said. On fresh manufacturing investments, Behl said the company’s Tapukara facility in Rajasthan, with an installed annual capacity of 1.8 lakh units, is currently operating at 60-70 per cent utilisation and caters to both domestic and export markets. The Japanese auto major will focus on improving utilisation through an expanded product portfolio before committing to additional capacity, he said. “As demand grows, we will evaluate expansion options, but the first objective is to utilise the existing plant better,” Behl said, adding that the company is evaluating multiple expansion options without specifying a utilisation threshold for fresh investments. Honda has lined up six launches during the current calendar year, including the new electric SUV. The broader product offensive is aimed at boosting plant utilisation and strengthening the company’s position in India’s evolving passenger vehicle market, said Behl. Tamil Nadu contributes nearly 12 per cent of the overall domestic sales for Honda. While the State ranks sixth nationally in passenger vehicle sales, it is Honda’s largest market, driven by a higher preference for petrol-powered and automatic transmission vehicles. The company has a warehouse for spare parts in the State but no immediate plans for manufacturing. 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.

Honda eyes sub-4 metre SUV, EV push to drive growth
North America
CNBC Finance

Americans are paying record prices for steak. Here's why demand isn't cracking

As Americans prepare to fire up their grills for the Fourth of July, they're facing some of the highest beef prices on record. Beef prices have surged after the U.S. cattle herd shrank to its smallest size in decades following years of drought, high feed costs and herd liquidation. The resulting supply crunch has driven up cattle prices and, ultimately, the cost of beef at grocery stores and on restaurant menus. While prices eased slightly in May after reaching record highs in the spring, consumers are still paying near-record prices for ground beef and steaks. The average price of ground beef was $6.75 per pound in May, according to U.S. Bureau of Labor Statistics data, up nearly 13% from a year ago and just below April's record high of $6.90. Beef steak prices averaged $12.80 per pound, up 16% from a year earlier and the second-highest level on record. But so far, shoppers don't appear willing to abandon their summer grilling traditions. The resilience offers another clue into consumer behavior at a time when investors are closely watching for signs of whether and where high prices are causing shoppers to pull back. "We are seeing customer demand for steaks remain quite high, with a shift towards more premium and organic options," a Kroger spokesperson told CNBC. "We've also seen beef continue to be a preferred choice during recent holidays, including Easter and Memorial Day." Beef has generated the largest dollar growth of any food category ahead of Independence Day, with sales rising roughly $352 million compared to last year, according to data from NielsenIQ. "Consumers are entering the holiday with discipline, making more trips but with clear intent behind each one," the consumer research firm said in a June report. As demand for beef holds up, consumers have shown clear preferences within the segment. NielsenIQ said consumers increasingly view steak as the centerpiece of special occasions: an "affordable luxury" where they're willing to pay more for quality and the experience, while finding savings elsewhere when they shop for groceries. The data also suggest consumers aren't simply searching for the cheapest protein. Instead, many are placing a greater emphasis on quality. Shoppers reported increasing favor toward quality claims such as USDA Prime (42%), no added hormones (40%), grass-fed (37%), and no antibiotics ever (36%) when purchasing meat, according to NielsenIQ. "Shoppers are looking past the label and into the story behind the meat," the firm said. "Claims tied to quality and sourcing are gaining ground as buyers seek confidence."

Americans are paying record prices for steak. Here's why demand isn't cracking
Europe
The Guardian

EasyJet suggests it will agree to £5.5bn takeover by US investment firm

EasyJet had rejected several takeover offers from Castlelake. Photograph: Lisi Niesner/ReutersView image in fullscreenEasyJet had rejected several takeover offers from Castlelake. Photograph: Lisi Niesner/ReuterseasyJetEasyJet suggests it will agree to £5.5bn takeover by US investment firmAgreement in principle with Castlelake follows several rejected offers and means UK’s biggest low-cost carrier will be taken private The airline easyJet has said it intends to accept a £5.5bn takeover offer by the US investment firm Castlelake that would take Britain’s biggest low-cost carrier private. The companies announced an agreement in principle on Sunday evening in a statement, and requested an extension to a deadline to complete the deal formally. The agreement came after weeks of negotiations and several rejected offers. The airline, a member of Britain’s FTSE 250 index of mid-sized companies, said it was minded to accept an offer at £6.90 a share. If the deal completes, it could be worth nearly £800m for easyJet’s founder, Stelios Haji-Ioannou, who still owns more than 15% of the company along with his family. EasyJet had rejected an offer of £6.50 a share 10 days earlier, saying it substantially undervalued the business. The first bid was worth £5.60 a share. The company’s shares were priced at £5.58 when stock markets closed on Friday, giving it a market value of £4.2bn. The last time easyJet’s shares traded above £6.90 was in early 2022, during the coronavirus pandemic, however some easyJet shareholders had told its chair, the former Royal Bank of Scotland chief executive Stephen Hester, to push for a price above £7. EasyJet had been deemed vulnerable to a takeover this year because of two profit warnings in the spring, and a difficult macroeconomic backdrop resulting from the fuel price surge caused by the US-Israeli war on Iran. The airline’s chief executive, Kenton Jarvis, in March reported falling bookings because of the war. It also faces stiff competition from the likes of the Irish carrier Ryanair, the biggest airline in Europe, Hungary’s Wizz Air and smaller British rival Jet2, which all operate in the low-cost market. Castlelake, based in Minneapolis, Minnesota, is a US private equity investor founded by the American banker Rory O’Neill. The company specialises in asset-based lending, including leasing planes to airlines. Some analysts have suggested that easyJet’s fleet could work with its leasing business, as well as potentially spinning off easyJet’s holidays arm. Castlelake has also previously had an interest in Scandinavian airline SAS. It is in the process of selling that stake, which it obtained via a debt restructuring, to Europe’s Air France-KLM. EasyJet, headquartered at Luton airport north of London, operates from 164 airports in 38 countries, employing 19,000 people. The companies did not say what plans Castlelake had for its workers.

EasyJet suggests it will agree to £5.5bn takeover by US investment firm
Europe
BBC Business

EasyJet reaches 'agreement in principle' over potential takeover

Image source, Getty ImagesByJemma Crew, Business reporter and Marc Ashdown, Business correspondentPublished5 July 2026EasyJet has reached an agreement in principle with a US investment firm over a potential takeover offer worth around £5.2 billion. The low-cost Luton-based airline had previously rejected four takeover offers from Castlelake, which owns a stake of about 2.14% in EasyJet through the funds it manages. It said those offers had been worth £6.50, £5.60, £6 and £6.25 a share, and has previously accused Castlelake of trying to buy it "on the cheap". On Sunday EasyJet's board of directors and Castlelake said they had reached an agreement in principle on a proposal put forward on 4 July, worth £6.90 per share. This does not mean a deal has been confirmed. Castlelake now needs to get regulatory clearances and the approvals required for the transaction to go ahead. One significant regulatory hurdle is that EasyJet is a European company, so by EU rules it needs to be 51% owned by a European company. Castlelake is a US firm, although it has previously outlined how it would endeavour to comply with this rule. It has until 17:00 BST on 3 August to either announce a firm intention to make an offer or say it does not intend to do so. EasyJet's board on Sunday said the financial terms of the proposed offer "are at a value that the Board would be minded to recommend to easyJet shareholders", should a firm offer be made. EasyJet is one of Europe's largest airlines. It employs more than 19,000 people, and flies around 1,200 routes across 35 European countries. It has previously said its share price had been "temporarily depressed" - partly due to the impact of the US-Israel war with Iran on the travel sector. EasyJet shares closed on Friday at £5.58 each. Before news of the first bid emerged in June, EasyJet's stock had fallen by more than 30% in the past year.

EasyJet reaches 'agreement in principle' over potential takeover
Asia
The Hindu BusinessLine

CAG raps Maharashtra as ₹82.78 cr helicopter lay idle for 17 months, flags ₹2 cr avoidable cost

The Comptroller and Auditor General (CAG) has criticised the Maharashtra government for the delay in appointing a maintenance agency for a ₹82.78‑crore helicopter bought for anti‑Naxalite operations, leaving it grounded for 17 months and causing an avoidable expense of ₹2.07 crore. In its Compliance Audit Report for the year 2024, tabled in the State legislative assembly on July 10, the CAG said the Directorate of Aviation, Government of Maharashtra, took nearly 10 months to appoint a Maintenance, Repair and Overhaul (MRO) agency after the helicopter was delivered. "The delay of about ten months in finalising the MRO agency resulted in the helicopter not receiving the mandatory daily checks and engine ground runs required to maintain its airworthiness," the report said. The state government had approved the purchase of the helicopter in May 2018 to facilitate anti-Naxalite operations in Gadchiroli and neighbouring areas. The (Maharashtra government's) Directorate of Aviation bought the H-145 (VT-GOV) helicopter from M/s Airbus Helicopters, Germany, for ₹82.78 crore in July 2019. It was delivered on September 18, 2019, and underwent its acceptance test flight a week later. The audit said the helicopter could not be operated without a valid certificate of airworthiness and mandatory maintenance by a Directorate General of Civil Aviation-approved MRO agency. As no such agency had been appointed, the helicopter was placed under short-term preservation by the supplier on September 26, 2019. According to the CAG, M/s Indamer Aviation Pvt Ltd was appointed as the MRO agency only on July 13, 2020. Since the helicopter remained without mandatory maintenance, it had to undergo Return to Service (RTS) procedures before it could fly again. The state Directorate of Aviation obtained the DGCA approval in September 2020, after which the RTS work was carried out for Rs 2.07 crore. "The helicopter had to be placed under short-term preservation and subsequently undergo RTS procedures, for which an expenditure of ₹2.07 crore was incurred. The delay also rendered the helicopter unavailable for operational use for over 17 months from the date of delivery," the report said. The airworthiness certificate was issued on December 2, 2020, and the helicopter was finally pressed into service on February 19, 2021, one year and five months after it had been handed over to the state government. "The lapse indicates inadequate planning and weak contract management in the Directorate of Aviation, which led to avoidable expenditure," the CAG report said. The state Directorate of Aviation did not furnish its comments despite repeated reminders after the audit pointed out the issue in July 2024. The matter was referred to the state government in September 2025, and its reply was awaited, the report added. 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.

CAG raps Maharashtra as ₹82.78 cr helicopter lay idle for 17 months, flags ₹2 cr avoidable cost
Asia
The Hindu BusinessLine

What to know about new rules and technology behind FIFA World Cup's most contentious calls

It was another game-changing moment at the World Cup that had more to do with television replays in a room far away than a moment of brilliance on the field. The sending off of Switzerland's Breel Embolo in Saturday's quarterfinal game against Argentina was the latest call that may have left fans scratching their heads, not least because of the confusing name of the newly implemented law that swung the match. It is called the "mistaken identity" rule. Yet, technically, Embolo was not shown a second yellow card — resulting in a red — for a case of mistaken identity. It was because the referee Joao Pinheiro did not see in real time that the forward had simulated a foul under a challenge from Argentina's Leandro Paredes. Paredes was initially shown a yellow card, which is a key factor. Under FIFA rules, because Paredes was shown a card, the video assistant referee (VAR) can intervene and recommend that the on-field official review the sideline monitor. After review, the referee deemed Embolo to have committed a "clear simulation" and showed him a second yellow card and sent him off. The rules state that the VAR can assist when the referee penalises the "wrong team for an offence that results in a red or yellow card being shown to the wrong player." It was a pivotal point in the match, coming five minutes after Switzerland had made it 1-1. Argentina won 3-1 after extra time. "The referee made the wrong decision," Switzerland coach Murat Yakin said. "I know they will protect their referee, but this rule destroyed our game today, and it's very painful, and to be eliminated in that way hurts a lot." It is not the first time at this World Cup that teams have hit out against new rules or technology. Newly tightened regulations contributed to Germany's shock elimination in the round of 32. Defender Jonathan Tah's potentially game-winning goal in extra time against Paraguay was ruled out after VAR review for a foul on goalkeeper Orlando Gill. Replays showed Germany's Waldemar Anton push Gill to the ground, but the minimal contact led to criticism of the decision. FIFA's referees chief Pierluigi Collina said officials had been told to punish incidents when players try to block opponents and make no attempt to play the ball, especially where goalkeepers are concerned. Germany went on to lose the game in a penalty shootout, with Tah firing a decisive spot kick over the bar. Elimination could have a seismic effect on German soccer, with coach Julian Nagelsmann resigning and Jurgen Klopp expected to take over.

What to know about new rules and technology behind FIFA World Cup's most contentious calls
Asia
The Hindu BusinessLine

Microsoft CEO Satya Nadella warns of 'Reverse Information Paradox' facing businesses in AI Age

Microsoft Chairman and CEO Satya Nadella explained that enterprises need a real trust boundary for their human capital and token capital to compound, as a company should be able to use a model without giving up the knowledge that makes it unique. This "reverse information paradox" is the central challenge that businesses need to confront in the age of intelligence. Nadella, on X, stated that while Nobel Prize-winning economist Kenneth Arrow described a paradox where a seller risks giving away knowledge to sell it, artificial intelligence creates the opposite problem. "In the AI age, the buyer risks giving away knowledge, just in order to use what they bought," Nadella said. "You essentially pay for intelligence twice, once with money, and again with something even more valuable: the proprietary knowledge you must reveal to make that intelligence useful. The better you want the model to perform, the more of that knowledge you have to feed it!.....That is what I think of as the Reverse Information Paradox." He noted that over time, the information asymmetry becomes increasingly skewed because the seller learns more about the buyer, while the buyer learns very little about what the seller learns in return. According to Nadella, resolving this issue requires more than standard data protection. Models learn continuously from "exhaust," which includes user prompts, agent tools, and corrections made when a model is wrong. "Every correction is distilled into institutional know-how," Nadella stated. "It's the kind of knowledge a competitor could never buy, and the kind that leaks almost imperceptibly: trace by trace, correction by correction, eval by eval. In consuming intelligence, you are creating intelligence. And what you create should belong to you." He pointed out the irony in the current status quo, where model providers utilize fair use rights to train on public data but then impose restrictive terms on distillation and reserve the right to learn from customer usage. Nadella stated that if learning flows in only one direction, economic value converges toward the infrastructure owners rather than the knowledge creators. Consequently, distributing learning infrastructure to every firm is imperative so they can control their own learning loop.To secure this boundary, Nadella outlined that enterprises must focus on control, capability, choice, cost, and compounding. This involves creating private evaluations, retaining ownership of organizational memory, building proprietary learning environments within a tenant boundary, and decoupling the orchestration layer from any single model to ensure long-term cost efficiency and value compounding. Quoting Palantir CEO Alex Karp, Nadella highlighted the growing demand among technical customers for absolute autonomy over their proprietary systems. "What the technical customers want is control over their compute, their models, their data stack, and their alpha," Nadella quoted Karp. "They want to know they own the means of production, and it's not being transferred to someone else." 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.

Microsoft CEO Satya Nadella warns of 'Reverse Information Paradox' facing businesses in AI Age