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Europe
The Guardian

NPR retracts ‘inaccurate’ story saying supreme court justice Samuel Alito retiring

Samuel Alito in Rome last year. A court spokesperson called NPR’s reporting ‘inaccurate’. Photograph: Vincenzo Livieri/ReutersView image in fullscreenSamuel Alito in Rome last year. A court spokesperson called NPR’s reporting ‘inaccurate’. Photograph: Vincenzo Livieri/ReutersNPRNPR retracts ‘inaccurate’ story saying supreme court justice Samuel Alito retiringStory from Nina Totenberg removed and replaced with editor’s note after journalist misheard announcement made by chief justice The US public broadcasting organization National Public Radio (NPR) on Tuesday took the unusual step of formally retracting a major news story, after it published what seemed like a bombshell scoop that the supreme court justice Samuel Alito was retiring. The story was written by Nina Totenberg, 82, one of the most prominent chroniclers of the supreme court in American media. NPR later explained that Totenberg had misheard a court announcement about upcoming retirements. The nearly 1,200-word story was completely removed and replaced with the following editor’s note: “Earlier today we erroneously published a story saying that Supreme Court Justice Samuel Alito was retiring. He has not announced his retirement and we have retracted the story.” The opening paragraph of the story cited a “court announcement” that Alito was retiring, but no announcement had been made at the time of publication. Patricia McCabe, a spokesperson for the court, told NBC News that “NPR’s reporting regarding Justice Alito is inaccurate” and that “their reporting that there was any kind of court statement is inaccurate”. On Tuesday afternoon, NPR’s top editor, Thomas Evans, chalked the errant publication up to a “misunderstanding”. “Neither Justice Alito nor the Supreme Court Public Information Office has announced his retirement,” Evans said in the statement. “As soon as the error was realized, the story was retracted and removed from NPR’s website and an on-air correction was broadcast. We regret the error and any confusion this may have caused.” Journalistic ethics expert Kelly McBride, who serves as NPR’s public editor, published a story on Tuesday afternoon clarifying what happened. The error stemmed from Totenberg mishearing an announcement made by Chief Justice John Roberts about upcoming retirements. “NPR had the lengthy story about Alito’s retirement already written, because that’s what newsrooms do in anticipation of significant retirements and even deaths,” McBride wrote. “Totenberg spoke with both her intern, who was at the court with her, and NPR executive editor Krishnadev Calamur, and told them what she heard. Calamur surfaced the story that NPR had previously prepared for the day Alito did announce his retirement and published it.” Totenberg appeared on NPR on Tuesday afternoon and called it a “rookie mistake”, saying: “This is on me, and only me.” She also read from a letter that she sent to Alito apologizing for the error. “It was the worst professional mistake of my more than 50 years of journalism,” she wrote. “I could go on, but I don’t know what else to say, other than to say that I am so, so sorry.”

NPR retracts ‘inaccurate’ story saying supreme court justice Samuel Alito retiring
Asia
The Hindu BusinessLine

Iran destroys 8 American military infrastructures in Kuwait, Bahrain in response to second US strikes, claims IRGC

Iran's Islamic Revolutionary Guard Corps (IRGC) on Sunday claimed it had destroyed eight US military infrastructures in Kuwait and Bahrain in a joint missile and drone operation, describing the strikes as retaliation for a second wave of US military attacks on Iranian targets. In a statement carried by Iranian state media, Islamic Republic of Iran Broadcasting (IRIB), the IRGC's Public Relations department said its naval and aerospace forces launched ballistic missiles and drones between 2:00 am and 3:00 am local time, targeting the Ali Al Salem Air Base in Kuwait and the US Fifth Fleet headquarters at Port Salman in Bahrain. The IRGC said the operation was a "decisive response" to what it described as recent US aggression ."Your zealous sons in the IRGC's naval and air forces, during a joint missile and drone operation at 2-3 am today, Sunday, July 27, destroyed eight important infrastructures of the child-killing US army at the Ali al-Salem base in Kuwait and the Fifth Naval Fleet in Port Salman, Bahrain, by launching ballistic missiles and drones at them and decisively responded to the recent US aggression," the statement said. The IRGC further stated that US forces had attacked five Iranian coastal positions earlier on Sunday, accusing Washington of violating a ceasefire agreement as per the 14-point memorandum of understanding (MoU) between the two sides to end the hostilities in West Asia. It also warned that any future attacks on Iran, regardless of scale, would be met with a "crushing response".The IRGC further stated that the arrangements under the MoU give Iran the authority for traffic control in the Strait of Hormuz and warned that vessels violating the agreement would face stronger action." According to the memorandum of understanding, Islamabad has arrangements to control traffic in the Strait of Hormuz with the Islamic Republic, and from now on, violating ships will be dealt with more forcefully than in the past, and any potential enemy aggression, under any pretext, even if the aggressions are against minor targets, as happened last night and tonight, will have a crushing response," the statement added, as quoted by IRIB. The latest escalation follows after the US Central Command (CENTCOM) stated that American forces carried out additional strikes against multiple military targets in Iran on June 27, under the direction of the Commander in Chief, US President Donald Trump. According to a statement issued by CENTCOM, the operation came after Iran allegedly failed to uphold the ceasefire and launched a one-way drone attack that struck the Panama-flagged tanker M/T Kiku near the Strait of Hormuz. The US said the vessel was carrying more than two million barrels of crude oil. "U.S. Central Command (CENTCOM) forces conducted additional strikes against multiple targets in Iran, June 27, at the Commander in Chief's direction," the statement read." After yesterday's U.S. strikes in response to the Iranian attack on M/V Ever Lovely, Iran was given a chance to honor the ceasefire agreement but elected not to when its forces launched a one-way attack drone that hit M/T Kiku this morning at 4:30 a.m. ET. The Panama-flagged tanker was transiting near the Strait of Hormuz with more than two-million barrels of crude oil," it added. CENTCOM said US aircraft targeted Iranian military surveillance infrastructure, communication systems, air defence sites, drone storage facilities and mine-laying capabilities, describing the strikes as a direct response to continued Iranian attacks on commercial shipping. It added that commercial vessel traffic through the Strait of Hormuz was continuing and that US forces remained prepared for further contingencies. Following the reported Iranian missile and drone attack, the Kuwait Army General Staff Headquarters said in a post on X that Kuwaiti air defence systems were intercepting "hostile missile and drone attacks".It advised residents that any explosion sounds were the result of air defence interceptions and urged the public to follow official safety instructions. Meanwhile, Bahrain's Ministry of Interior announced on X that warning sirens had been activated and called on citizens and residents to remain calm, move to the nearest safe location, and follow updates issued through official channels .This is the second consecutive strike by the US in two days on Iranian targets following the Islamic Republic's alleged attacks on vessels transiting through the Strait of Hormuz. According to a statement issued by CENTCOM on Saturday, US forces carried out the strikes on June 26 in response to an attack a day earlier on the Singapore-flagged cargo ship M/V Ever Lovely, which was hit by a one-way attack drone launched by Iranian forces while exiting the Strait of Hormuz along the Omani coast. "U.S. aircraft struck Iranian missile and drone storage locations and coastal radar sites after Iran hit M/V Ever Lovely on June 25 with a one-way attack drone," CENTCOM said in its earlier statement. Comments have to be in English, and in full sentences. 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Iran destroys 8 American military infrastructures in Kuwait, Bahrain in response to second US strikes, claims IRGC
Asia
The Economic Times

Multibaggers: 8 stocks rallied over 20% in each of the last three July-September quarters

It is always useful to keep an eye on interesting market trends. As we step into the July-September quarter, we looked back at history to identify stocks that have consistently delivered strong returns during this period. Our analysis reveals that 15 stocks with a market capitalisation of over Rs 1,500 crore have gained more than 20% in each of the last three July-September quarters. We then examined their performance over the past year, and the results were equally impressive. Eleven of these 15 stocks have surged between 50% and 200%, with eight delivering multibagger returns. The data suggests that seasonal strength, when backed by sustained momentum, can help uncover stocks with the potential to outperform. (Data Source: ACE Equity) The stock has rallied 206% over the past year, rising from Rs 101 to Rs 309.July-September quarter performance: 2023: 20% | 2024: 29% | 2025: 137% The stock has rallied 194% over the past year, rising from Rs 781 to Rs 2,294.July-September quarter performance: 2023: 31% | 2024: 29% | 2025: 53% The stock has rallied 182% over the past year, rising from Rs 15 to Rs 41.July-September quarter performance: 2023: 26% | 2024: 21% | 2025: 47% The stock has rallied 155% over the past year, rising from Rs 1,070 to Rs 2,726.July-September quarter performance: 2023: 106% | 2024: 55% | 2025: 51% The stock has rallied 111% over the past year, rising from Rs 13 to Rs 28.July-September quarter performance: 2023: 28% | 2024: 99% | 2025: 122% The stock has rallied 105% over the past year, rising from Rs 609 to Rs 1,246.July-September quarter performance: 2023: 117% | 2024: 42% | 2025: 21% The stock has rallied 105% over the past year, rising from Rs 409 to Rs 838.July-September quarter performance: 2023: 29% | 2024: 22% | 2025: 21% The stock has rallied 100% over the past year, rising from Rs 21 to Rs 41.July-September quarter performance: 2023: 47% | 2024: 28% | 2025: 119% The stock has rallied 74% over the past year, rising from Rs 1,663 to Rs 2,896.July-September quarter performance: 2023: 21% | 2024: 26% | 2025: 31% The stock has rallied 55% over the past year, rising from Rs 12,006 to Rs 18,630.July-September quarter performance: 2023: 30% | 2024: 66% | 2025: 22%

Multibaggers: 8 stocks rallied over 20% in each of the last three July-September quarters
North America
Yahoo Finance

2 Financials Stocks to Target This Week and 1 We Ignore

Financial providers use their expertise in capital allocation and risk assessment to help facilitate economic growth while offering consumers and businesses essential financial services. Still, investors are uneasy as companies face challenges from an unpredictable interest rate and inflation environment. These doubts have caused the industry to lag recently as financials stocks have collectively shed 2.4% over the past six months. This performance was disappointing since the S&P 500 climbed 6.1

2 Financials Stocks to Target This Week and 1 We Ignore
Europe
The Guardian

Return of the ‘greybeards’: AI backfired – so Ford had to rehire humans

I’m thinking old, and probably male? Most likely. Certainly human, that’s the main thing. Who is it about then? Veteran engineers, working for Ford Motor Company in the US. Oh dear, I think I know how this story goes: hundreds of longstanding workers get laid off because of automation and artificial intelligence … That kinda was how the story was going; the company has 5,000 fewer workers than it did in 2020. Recently, though, there’s been an unexpected twist. Ooh, I love those, go on. Over the past three years, the company has hired 350 veteran engineers – known as “greybeards” (or “graybeards” if you’re reading this in the US) – made up of former Ford employees and workers from suppliers. Excellent news! Why, though? I’m guessing it’s not because – despite the threat from the massive acceleration going on in the Chinese automotive industry – Ford has suddenly discovered its charitable side? No. It’s more about doing the things that AI proved to be a bit rubbish at. AI replaced with human beings, man bites dog! Go on! Not quite replaced. But they discovered that the hundreds of AI-powered cameras they were using, including for design and manufacturing checks, were prone to pitfalls. Because? To quote Ford’s vice president of vehicle hardware engineering, Charles Poon: “Artificial intelligence is a fantastic tool, but it’s only as good as the information you use to train it.” Hmm, now who would have that kind of knowhow and experience, I wonder? “Over prior years, we didn’t pay as much attention as we should have to the experience of our most knowledgeable engineers that have been with us through many product cycles,” Poon said. “Who have been with us through many product cycles”, Mr Poon – they’re people, remember. True. With facial hair to prove it. So the AI gets chucked on the scrapheap and the “greybeards” come back through the factory gates, singing, like elves … In the fairytale version maybe. And in the real version? A combination of the two. Ford said that AI is very important to quality gains, “and that, in tandem with deep technical expertise, is what’s needed”. Yeah, until all that expertise has been successfully transferred to the machines. And the human becomes redundant. Not just from work, but existentially. Argggghhh!

Return of the ‘greybeards’: AI backfired – so Ford had to rehire humans
North America
CNBC Finance

Eli Lilly, Regeneron among first companies selected for FDA initiative to speed review of new manufacturing facilities

Eli Lilly and Regeneron are among the first seven companies the U.S. Food and Drug Administration selected for a pilot program designed to accelerate reviews of new domestic pharmaceutical manufacturing facilities, CNBC has learned. Lilly, Regeneron, Amneal, Cellares, Fujifilm Biotechnologies, Kriya Therapeutics and Kyowa Kirin are the first companies that will participate in the FDA's PreCheck pilot program, according to FDA spokesperson Benjamin Nichols. The initiative will allow regulators to start reviewing new manufacturing facilities while they're under construction to catch and correct any issues, which the FDA estimates could save companies up to 14 months. Producing more drugs domestically has been a priority for the Trump administration. The initial recipients range from the most valuable healthcare company in the world to closely held biotechs developing gene therapies. The majority of them plan to make biologic drugs or genetic medicines, which involve more complex manufacturing. To be eligible for the PreCheck program, companies needed to build a new manufacturing facility capable of making drugs that would address a market supply gap or improve access to therapies for unmet medical needs. Only drugs that rely on the facility will be covered by the program. For example, the FDA selected Lilly's Lebanon, Indiana, facility that will make the main ingredients of GLP-1 pills and shots. Lilly said it's "evaluating how PreCheck and related regulatory improvements may impact the facility's timeline and will continue to work closely with FDA to support the program's success." The $2 billion Saratoga Springs, New York, site that Regeneron announced last fall was also chosen. In a statement, Regeneron CEO Leonard Schleifer said Regeneron has invested in U.S. biologics manufacturing and advocated for increased focus on domestic production of medicines. "We're pleased to see programs like the FDA's PreCheck Pilot Program that encourage collaboration between innovators and regulators to build next generation manufacturing capabilities and strengthen America's biopharmaceutical industry," he said. Another recipient is Fujfilm Biotechnologies' new facility in Holly Springs, North Carolina. The contract manufacturer opened the site last year. It's already making monoclonal antibodies for customers Regeneron and Johnson & Johnson, and will produce them for other customers as more parts of the site open in 2027 and 2028. The PreCheck program includes two components: facility readiness, where the FDA gives the companies technical guidance before the site opens, and application submission, where participants can get more hands-on feedback from the FDA and expedited inspections and facility evaluation. Fujifilm said it expects the operational readiness review before the end of the year thanks to the expedited process. And it expects the program will allow its customers to explore faster approval pathways with the FDA. 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.

Eli Lilly, Regeneron among first companies selected for FDA initiative to speed review of new manufacturing facilities
North America
CNBC Finance

Comcast's NBCUniversal spinoff raises hope for more deals. There may not be good options

Analysts think Comcast is priming for deals. Comcast leadership says they're wrong. The company announced Monday it plans to separate its two primary businesses — cable broadband and the media units of NBCUniversal and Sky. It's the second major structural change for the decades-old company in recent months, and it's raising questions of potential future deals for either half of the company. "Absolutely not," Comcast co-CEO Brian Roberts said Monday, when asked if investors should view the separation as a potential setup for future deals. Roberts, son of founder Ralph Roberts and Comcast's controlling shareholder, won't be CEO of either company after the separation but will continue to be "actively involved" in the leadership of both companies, Comcast said. "This is the right move to put each company in the strongest position to create value, fully monetize its assets, and aggressively pursue its own organic growth strategies," Roberts said. A reason Comcast is squashing deal speculation? There may not be many good ones left. Wall Street and industry onlookers have called for a split of Comcast for years, motivated by the rise of streaming and severe competition in the media industry. While company leaders have discussed a separation at various points since at least 2019, executives have never seriously considered it until now, according to a person close to the situation who asked not to be named because the discussions are private. When Comcast decided to siphon off its cable TV networks into a separate publicly traded company less than two years ago — the spinoff that would ultimately become CNBC-parent Versant Media Group — the prospect of carving out NBCUniversal as a whole never came up, the person said. Instead, the move to sever NBCUniversal and Sky from the Xfinity cable business came together rather quickly in recent months, the person said. Wall Street just witnessed a large media deal following an announced spin, noted Mike Proulx, research director at Forrester. Before Warner Bros. Discovery launched a sale process that resulted in dueling bids from Netflix and Paramount Skydance, WBD said it planned to separate its assets into two companies. "Comcast is following a playbook we have already seen. Warner Bros. Discovery split itself apart as it moved into a deal with Paramount. Now Comcast is doing the same with NBCUniversal. History matters here because Peacock increases NBCUniversal's acquisition potential," Proulx said.

Comcast's NBCUniversal spinoff raises hope for more deals. There may not be good options
Asia
The Hindu BusinessLine

Godrej Agrovet rejigs portfolio to improve earnings quality

Godrej Agrovet is entering a new phase of growth with a focus on earnings quality, capital efficiency and sustainable returns rather than revenue expansion alone. Targeting cash‑rich, low‑volatility businesses to boost returns and earnings quality. As Godrej Agrovet enters its next phase of growth, the company is placing greater emphasis on the quality and sustainability of earnings than on revenue expansion alone, reshaping its portfolio to improve returns on capital, reduce earnings volatility and strengthen long-term capital discipline. Over the past two years, Godrej Agrovet has deployed nearly ₹1,750 crore towards acquisitions, subsidiary consolidation and capital expenditure while improving return on capital employed (ROCE) from 16 per cent to 20 per cent. The ₹10,233-crore Godrej Industries Group company is sharpening its portfolio focus, with a greater emphasis on businesses that offer stronger growth visibility, higher value addition and better returns on capital. Investments are being directed towards premium animal nutrition, value-added dairy, branded foods, downstream oil palm. The contract Development and Manufacturing Operations (CDMO) segment is highly relevant for Godrej Agrovet Ltd. (GAVL) as it provides a strategic transition away from cyclical commodity chemicals toward high-margin, stable, and long-term partnerships with global innovators. This segment is primarily executed through its subsidiary, Astec According to company officials familiar with the strategy, the exercise is intended to improve returns on capital, reduce earnings volatility and focus management attention on businesses with stronger long-term growth potential. The transformation comes as Godrej Agrovet reported consolidated revenue of ₹10,233 crore in FY26, crossing the ₹10,000-crore mark for the first time, while profit before tax before exceptional items rose 17.2 per cent to ₹569 crore. The company has guided for double-digit revenue growth and mid-double-digit profit growth in FY27. Unlike earlier phases of expansion that relied largely on adding businesses and capacity, the current phase is being funded primarily through internal cash generation. Company officials said businesses with limited growth potential, structurally weak profitability, or volatile earnings are being evaluated alongside opportunities capable of delivering stronger returns and more durable cash generation. The portfolio review signals a broader change in how Godrej Agrovet intends to create value. Rather than assessing businesses primarily by their contribution to revenue, the company is increasingly prioritising earnings quality, return on capital and cash generation when allocating investment. However industry analysts say, the larger challenge, however, will be execution, whether higher-margin businesses such as value-added dairy, branded foods, premium animal nutrition , downstream oil palm and CDMO can grow quickly enough to contribute a materially larger share of profits while reducing the company’s dependence on more volatile, commodity-linked businesses.

Godrej Agrovet rejigs portfolio to improve earnings quality
Europe
BBC Business

India's biggest share sales tell the story of a country glued to its phones

Image source, NurPhoto via Getty ImagesImage caption, Jio is expected to raise around $4bn (£3.02bn) with an estimated valuation of $120-160bn India's largest stock exchange and its biggest telecoms operator will both go public by the end of this year in what experts say could be landmark listings for the country's capital markets. Jio Platforms, the digital arm of billionaire Mukesh Ambani's Reliance Industries, and the National Stock Exchange (NSE) - the world's largest derivatives exchange and among the top three equity exchanges by trading volume - filed draft papers for their initial public offerings just days apart last month. Jio is expected to mop up around $4bn (£3.02bn) from the market at an estimated valuation of $120-160bn, while NSE's issue will reportedly offer 6% equity for $3.3bn, valuing the bourse at $57bn. Beyond the unprecedented scale of the offerings - which could take India's overall market capitalisation up by several notches - investors are closely watching the listings because they represent the sweeping changes in the way Indians have come to live, consume, invest and transact in the last decade, Yatin Singh, CEO - Investment Banking at Emkay Global, told the BBC. "These are unique businesses which don't get built often. NSE is a direct proxy of the 'financialisation' of Indian household savings into mutual funds and stocks, while Jio is the story of a company that single handedly ushered in a digital revolution, becoming a driving factor for several new-age Indian businesses," said Singh. "Their listings could be seminal for the Indian markets in the way the marquee offerings of software companies became many decades ago," he adds. Jio's belated entry into India's crowded telecom market in 2016 consolidated a highly fragmented industry of 17 operators and turned it into a virtual duopoly, as the Ambanis sparked a fierce pricing war by offering virtually free data to hundreds of millions of new users. Barely 200 million Indians used the internet decade ago. That number is now inching closer to the billion mark with Jio alone amassing 525 million of those subscribers. They use its data to make payments, watch web shows and shop online. In fact, Indians are now the largest consumers of mobile data globally, surpassing even developed markets like the US and China. And this has largely been driven by Jio's cheap tariffs that democratised smartphone use. The way the country spends money and time has also changed dramatically as a result of this digitisation. India's United Payments Interface (UPI), launched in the same year as Jio, went from processing near zero digital payments to 228 billion transactions in 2025, according to Zerodha, a brokerage. And paid subscribers to OTT platforms jumped 40% between 2019 and 2026.

India's biggest share sales tell the story of a country glued to its phones