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North America
CNBC Finance

Walmart to cover some GLP-1s, inhalers and insulin for employees at no cost as it expands benefits

Walmart plans to cover more than 250 prescriptions, including some insulin, inhalers and GLP-1s for diabetes, at no cost to its employees in 2027, the company confirmed to CNBC on Tuesday. The retailer is also expanding existing benefits and adding new ones to attract and retain workers at a time when many other employers are offsetting rising healthcare costs with higher prices and scaled-back plan benefits. The announcement comes weeks before open enrollment for Walmart employees closes on Nov. 6. Walmart, the biggest private employer in the U.S., will offer Novo's diabetes injection Ozempic and Eli Lilly's rival shot Mounjaro without charge for people with Type 2 diabetes after a new prior authorization. But the company still does not cover GLP-1s from Novo and Lilly for the purpose of weight loss. Other large employers similarly don't cover those treatments for obesity or have recently dropped coverage to tamp down on their healthcare costs. The latest benefit changes build on Walmart's yearslong effort to boost employee compensation after previously receiving criticism for the healthcare benefits and wages it offers. Walmart employs roughly 2.1 million associates worldwide, with about 1.6 million of those workers based in the U.S., as of the end of fiscal year 2026. In a statement, the company said it's minimizing premium increases for its employees, raising rates for its starting plan by $1.50 per pay period to $39.80. Walmart told CNBC that's a smaller increase than the company made last year. The company is also expanding an existing benefit that pays for employees to see cancer specialists at the Mayo Clinic or the Cleveland Clinic, according to a Tuesday letter to workers from Donna Morris, Walmart's chief people officer. Starting next year, employees under most plans can use that benefit to get a second opinion from a specialist for rare conditions such as ALS, multiple sclerosis and Parkinson's. Among the other added benefits is up to 12 weeks of neonatal intensive care unit leave for parents, which can be added on top of regular parental and maternity leave, the letter said. "The steps we're taking are based on years of planning and trying new things, which is allowing us to make meaningful improvements for associates without slashing benefits or significantly raising premiums," Walmart said in its statement to CNBC. 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.

Walmart to cover some GLP-1s, inhalers and insulin for employees at no cost as it expands benefits
Asia
The Hindu BusinessLine

NBFCs lose ground despite stronger profitability, better asset quality: RBI Study

India’s non-banking financial companies (NBFCs) continued to expand their loan books and improve profitability in 2025, but their share in the overall financial system has slipped since the Covid pandemic, reflecting faster growth in other segments such as mutual funds, pension funds and banks, according to the RBI’s review of the sector. The RBI study showed that NBFCs, including housing finance companies (HFCs), accounted for 12.7 per cent of total financial sector assets at end-March 2025, down from 13.9 per cent at end-March 2020. While NBFCs remain the second-largest segment of India’s financial system after scheduled commercial banks, their relative share has declined over the past five years. At the same time, banks still accounted for 52.3 per cent of financial sector assets at end-March 2025, compared with 58.2 per cent in March 2020. Despite the shrinking asset share, NBFCs remained a key source of credit for underserved segments and continued to post robust business growth. Total assets of upper-layer and middle-layer NBFCs expanded 19.4 per cent year-on-year (y-o-y) at end-December 2025, driven by a 24 per cent rise in loans and advances. Secured lending, which constitutes nearly three-fourths of total advances, was the primary growth driver. Retail loans and industry continued to fuel credit growth. Retail loans accounted for 35.9 per cent of total NBFC credit at end-December 2025, while industry represented 45.4 per cent. Within retail lending, loans against gold jewellery remained the standout segment, rising nearly 60 per cent y-o-y as elevated gold prices increased collateral value and borrowing limits. Vehicle loans continued to be the largest retail segment, though growth moderated. The RBI report also highlighted continued dependence of NBFCs on external borrowing. Borrowings grew 23.3 per cent y-o-y, with bank loans and market instruments such as debentures and commercial paper accounting for more than 77 per cent of funding. The central bank noted that interconnectedness with banks remains an area requiring close monitoring from a systemic risk perspective. Financial metrics, however, strengthened further. The sector’s gross non-performing asset (GNPA) ratio improved to 2.7 per cent at end-December 2025, while net NPAs fell to 0.9 per cent. Capital buffers remained strong, with the capital-to-risk weighted assets ratio (CRAR) at 25.2 per cent, well above the regulatory requirement of 15 per cent. The review also found increasing adoption of artificial intelligence and digital technologies by NBFCs. Text analysis of annual reports indicated growing focus on AI-driven customer applications, governance systems, digital infrastructure and data analytics, underlining the sector’s evolving business model. 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.

NBFCs lose ground despite stronger profitability, better asset quality: RBI Study
Asia
The Hindu BusinessLine

Adani Power Q2 results: Net profit jumps 134% to ₹6,919 crore

Adani Power reported a 134 per cent year-on-year rise in consolidated net profit attributable to equity holders of the parent to ₹6,919 crore in the second quarter of FY27, supported by higher power sales, improved tariff realisations and one-time revenue recognition from previous periods. Revenue from operations rose 44 percent to ₹19,439 crore during the quarter, compared with ₹13,457 crore a year earlier, reflecting strong electricity demand and improved selling rates. A key contributor to the profit growth was the recognition of ₹2,422 crore in prior-period revenue during the quarter, primarily due to revisions in historical energy charges under certain power purchase agreements (PPAs). This compared with ₹668 crore recognised in the corresponding quarter last year. Excluding prior-period income and expenses, continuing EBITDA rose 18.5 per cent to ₹6,321 crore, while continuing revenue increased 28.5 per cent to ₹17,528 crore. Adani Power’s consolidated power sales volume increased 11.5 per cent year-on-year to 26.4 billion units (BU) in Q2 FY27, compared with 23.7 BU a year earlier. Power sales under PPAs grew 29.7 per cent to 23.4 BU, while tariff realisation on a continuing basis improved 12.7 per cent to ₹6.4 per kWh. Merchant and short-term power realisation rose 33.1 per cent to ₹7.2 per kWh, although volumes supplied through these channels declined 43 per cent as additional open capacity was tied up under medium-term contracts. Commenting on the results, S B Khyalia, CEO of Adani Power, said the company was focused on ensuring reliable power supply to meet India’s growing baseload requirements. He added that domestic coal-based power would remain important to meeting the country’s long-term energy needs and said the company was targeting capacity additions amid India’s plan to add 100 GW of thermal power capacity by 2032. Separately, Adani Power said the amalgamation of 10 wholly owned subsidiaries became effective on September 25, 2026, following approvals from the Ahmedabad and Mumbai benches of the National Company Law Tribunal. The company said the scheme, involving entities including Korba Power and Vidarbha Industries Power, had no impact on consolidated financial results as it was an amalgamation within the parent company and its wholly owned subsidiaries. The resulting tax adjustments included a reversal of current tax relating to earlier years, contributing to a net tax credit of ₹230.60 crore in the September quarter. 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.

Adani Power Q2 results: Net profit jumps 134% to ₹6,919 crore
Asia
The Hindu BusinessLine

Torrent Pharma Q2 net profit falls 10% to ₹534 crore; revenue rises 51%

Torrent Pharmaceuticals reported a 10 per cent year-on-year decline in net profit to ₹534 crore in the second quarter of FY27, even as revenue rose sharply following the consolidation of its businesses after the merger with Mumbai-based JB Chemicals & Pharmaceuticals. Revenue from operations increased 50.8 per cent to ₹4,979 crore in the quarter, compared with ₹3,302 crore a year earlier. Operating EBITDA, before exceptional items, rose 53.8 per cent to ₹1,666 crore, while the operating EBITDA margin improved to 33.5 per cent from 32.8 per cent a year ago. The company reported a gross margin of 75.4 per cent. Torrent said its base business revenue grew 18 per cent to ₹3,893 crore, supported by robust performance in branded markets. However, the integration of the JB business weighed on its performance during the quarter. “Following the merger, effective July 8, 2026, integration of the India business, global business network optimisation, and alignment of manufacturing and quality management systems, resulted in a transient impact on revenues during Q2 FY27,” the company said in its earnings release. The JB business recorded revenue of ₹1,086 crore during the quarter. Its India prescription business, excluding trade generics and contrast media, grew 7 per cent to ₹597 crore, while international business revenue, including the US, emerging markets and contract development and manufacturing operations, declined 7 per cent to ₹406 crore. In the base India business, revenue rose 20 per cent to ₹2,181 crore, outpacing the Indian pharmaceutical market’s 12 per cent growth, according to the PharmaTrac dataset. Brazil revenue increased 38 per cent to ₹440 crore, while the US revenue grew 24 per cent to ₹417 crore. Germany revenue declined 7 per cent to ₹283 crore, affected by supply disruptions at a third-party supplier and the loss of certain high-volume tenders. In the first half of FY27, Torrent Pharma’s revenue rose 52.8 per cent to ₹9,900 crore, while net profit fell 3.4 per cent to ₹1,100 crore. Operating EBITDA rose 57.4 per cent to ₹3,330 crore, with margins at 33.6 per cent. The company also reported research and development spending of ₹211 crore for the quarter, up 35 per cent year-on-year, equivalent to 4.2 per cent of revenue. 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.

Torrent Pharma Q2 net profit falls 10% to ₹534 crore; revenue rises 51%
Asia
NDTV Profit

'AI Agents Could Outnumber Humans': Mike Walsh Explains India's Big Opportunity

Futurist and AI specialist Mike Walsh believes India could help reshape how the world's biggest companies work over the next decade. Speaking at the NDTV World Summit 2026, Walsh said people in India will have the chance to “change and redesign the way those companies think,” calling it “the huge opportunity of digital labor.” Walsh urged people to look at AI “through the lens of abundance” rather than scarcity, and said there could soon be more AI agents than people, with India among the most important markets. He cited Nvidia's vision of growing from around 35,000 employees to roughly 75,000, supported by about 7.5 million AI agents. Without such support, he said, companies underuse their talent. He added that, according to Nvidia CEO Jensen Huang, an engineer earning $500,000 a year who isn't spending about half that on AI tokens isn't being fully used. Walsh said that even if AI development stopped today, “there are trillions of dollars of value to be unlocked” by helping traditional companies combine people and machines. Investors, from private equity and venture capital firms to SoftBank, are already looking for businesses well suited to digital labour, automation and robotics. For India, he said, the opportunity goes beyond outsourcing talent to “how you take your local companies and transform them into world champions.” Asked why humans would still be needed as AI agents improve, Walsh said the test should not be whether a machine can do a job, but what work we would still want people to do. Even if an AI could diagnose a serious illness, he said, he would want a doctor to talk him through it. AI, he argued, has “never lived in the world,” has “no skin in the game” and faces no consequences. “I don't really believe that AI agents are going to wake up and become little digital gods. I think that's just kind of nerd fantasy,” he said, adding that the real danger lies in not empowering humans to make important decisions. On fears of job losses as the auto industry shifts to EVs and AI, Walsh said India should look beyond building combustion-engine cars and think about its place in global mobility, including design, commissioning and training the AI models behind it. Asked about warnings of AI catastrophe, Walsh said futurists should be optimistic but “street smart,” asking who benefits from such narratives. For every devastating story, he added, there is one of hope. “The future we end up in is the future we choose to build,” he said.

'AI Agents Could Outnumber Humans': Mike Walsh Explains India's Big Opportunity
Asia
The Hindu BusinessLine

Broker’s Call: SRF (Buy)

SRF reported revenue/EBITDA/PAT growth of 35 per cent/22 per cent/31 per cent year on year, respectively. Revenue was in-line with our estimates; however, profitability came below our/consensus estimates, impacted by elevated input costs. Key highlights: Chemical business revenue was up 25 per cent, led by strong traction continued in the ref gas segment; PFB revenue was up 51 per cent, driven by sharp improvement in realisation on the back of raw material inflation; and technical textile business reported 26 per cent growth in revenue. In the chemical business, the management re-iterated its FY27 revenue growth guidance of 15-20 per cent and, after 25 per cent growth in H1FY27, guided towards the upper end, aided by firm ref gas pricing and a pick-up in specialty chemicals volumes. However, the near-term margin outlook remains challenging amid elevated raw material, freight and energy costs and limited pass-through in specialty chemicals. That said, long-term growth prospects remain intact, driven by fluoropolymer scale-up — PTFE value-added grades, PVDF, FEP/FKM and the Chemours project; the Odisha HFO plant; a widening pharma and agrochem pipeline; and a strategic focus on sunrise sectors. Considering H1FY27 performance, we have cut our FY27/FY28/ FY29 EPS estimates by -8 per cent/-5 per cent/-9 per cent respectively. Maintain BUY with a revised SoTP-based TP of ₹2,800 (earlier ₹3,060) on H1FY29 earnings (derived PE of 30x on H1FY29 EPS). 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.

Broker’s Call: SRF (Buy)
Asia
NDTV Profit

Infosys ADR Slips 7% On NYSE After Q2 Results: Three Key Drags

Infosys American Depositary Receipts (ADRs) fell as much as 7% on the New York Stock Exchange on Friday after the IT services major reported its second-quarter results for FY27 and cut its revenue growth guidance. The stock pared some losses and was trading 4.35% lower at $12.65 at 11:21 a.m. EDT. The sell-off followed a mixed set of results, with revenue growth broadly in line with expectations and deal wins improving, but a reduction in the full-year growth outlook and pressure on margins weighing on investor sentiment. Infosys cut its FY27 revenue growth guidance in constant currency terms to 1%-2% from its earlier forecast of 1.5%-3%. Management also flagged softer volumes, pricing pressure and uncertainty in the macroeconomic environment. The biggest concern for investors was Infosys' decision to lower its revenue growth guidance for FY27. The company now expects constant-currency revenue growth of 1%-2%, compared with the earlier range of 1.5%-3%. The revised outlook reflects continued weakness in discretionary spending, particularly among retail and high-tech clients, where customers have been scaling back or slowing down projects. Management also indicated that higher offshoring through the year is affecting the overall guidance. The company had previously indicated that offshoring would have an impact of around 1%. Chief Financial Officer Jayesh Sanghrajka flagged softer volumes and pricing pressure across client profiles, pointing to an environment in which clients remain cautious about spending. While Infosys' large deal wins have improved, the conversion of these deals into revenue growth remains important as clients continue to scrutinise discretionary technology budgets. Infosys reported a sequential decline in operating margin for the September quarter, adding to concerns about profitability. The company's earnings before interest and tax (EBIT) margin fell 10 basis points to 20.97% in Q2FY27 from 21.08% in the previous quarter. This was a slight miss against expectations, even as revenue and EBIT increased sequentially. Management flagged compensation-related costs as a headwind for margins in the second half of the financial year. Pricing intensity is also expected to persist, while softer volumes could add to the pressure on profitability. The combination of employee-related costs and pricing pressure could limit margin expansion even if deal activity remains healthy. Weak discretionary spending among retail and high-tech clients remains another drag on Infosys' near-term growth outlook. Customers in these segments are slowing down projects, affecting the pace at which technology spending translates into revenue. At the same time, artificial intelligence is emerging as both a growth opportunity and a source of pressure on traditional services revenue. While AI-related work is expanding, it can also compress revenue from conventional technology services as clients look for productivity gains and more efficient delivery models.

Infosys ADR Slips 7% On NYSE After Q2 Results: Three Key Drags
Europe
DW Economy

Why Chinese tech brands are outpacing Western rivals from EVs to robot vacuums

From action cameras and smartphones to EVs and robot vacuums, Chinese brands are gaining ground worldwide, despite privacy and security concerns. What's driving their rise, and can European rivals keep up? As technologies become more embedded in daily life, policymakers are weighing the benefits against concerns over data security and foreign influenceImage: Benjamin Bathke/DWAdvertisementDo you remember the days when GoPro was synonymous with action cameras? At its peak in 2015, the US company reigned supreme with around 6.6 million units sold that year and a market share of over 70%. Today, the pioneer is fighting for survival. GoPro's biggest rivals, DJI and Insta360, entered the action camera market in 2019 and 2021, respectively. Today, they account for more than 90% of global smart handheld camera sales. Alexander Hannemann, who regularly uses action cameras to film his motorcycle rides, says he switched from GoPro to Insta360 around two years ago. "The quality is much better than a GoPro, even when I'm speeding up and going into corners at like 80 kilometers per hour," he told DW. GoPro's case is not an exception. Since around 2010, many Chinese brands have not only caught up but surpassed once-dominant Western rivals across the consumer technology industry, from smart TVs to robot vacuums. Gone are the days when "Made in China" stood for cheap, mass-produced products. "China is still making affordable products today," says Chris Pereira, a Canadian entrepreneur and author with over 20 years of experience in China. "But the products are also high quality." This combination has led to well over half of new consumer tech products globally coming from Chinese suppliers, Pereira adds. BYD, Xpeng and other Chinese car manufactures sold almost two-thirds of all electric cars last year, surpassing incumbents like Tesla. In robot vacuums, Chinese brands dominate the global market, leaving former pioneer US company iRobot struggling to compete. Pereira, whose consultancy iMpact helps Chinese companies gain traction overseas, attributes China's success to fierce domestic competition in cities like Shenzhen, Hangzhou and Shanghai; highly integrated supply chains and a can-do business culture that allows companies to innovate; and respond to problems quickly.

Why Chinese tech brands are outpacing Western rivals from EVs to robot vacuums
Europe
The Guardian

Threat of AI share crash puts world financial stability at risk, says IMF

The IMF underlined the interconnected nature of big AI companies, and the high levels of borrowing being undertaken to fund investment in the sector. Photograph: Aly Song/ReutersView image in fullscreenThe IMF underlined the interconnected nature of big AI companies, and the high levels of borrowing being undertaken to fund investment in the sector. Photograph: Aly Song/ReutersEconomicsThreat of AI share crash puts world financial stability at risk, says IMFHigh valuations and debt put sector in danger, while fund also warns on government borrowing and cyber-attacks The threat of an AI share price crash rippling out across global markets is putting world financial stability at risk, the International Monetary fund has warned. In its twice-yearly Global Financial Stability Report, the IMF highlighted the sky-high valuations for AI companies along with their increasing debt pile as one reason that risks in the system are “elevated”. “The consequences of an AI correction could be global,” it warned. Aside from the US, Asian markets would be most exposed, and the UK and euro area potentially more insulated – though investors with US holdings would be hit. Athanasios Vamvakidis, the deputy director of the IMF’s monetary and capital department, launching the report, said: “The exposure of the rest of the world to US assets, particularly AI, is the highest it has ever been. So this is supporting the global economy through wealth effects today; but if we get a market correction it could have broad implications.” An AI crash was one of three “salient risks” to stability identified by the IMF, alongside rising government borrowing costs and the threat of a big cyber-attack. It called this trio of factors “plausible near-term catalysts for a sharp tightening of financial conditions and market turmoil”. The IMF’s analysis underlined the interconnected nature of big AI companies, and the high levels of borrowing being undertaken to fund investment in the sector. “Weaker or less durable investment and profitability in AI could trigger a correction in AI-related asset prices, exacerbated by rising leverage, concentrated exposures, and circular financing arrangements,” it said. Such a reassessment would then “sharply reduce investment, trigger equity market corrections, and tighten financial conditions, with global spillovers”. The “magnificent seven” big tech stocks – Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia and Tesla – account for more than 35% of the S&P 500 share index in the US, up from 12% a decade ago, and their total market capitalisation has increased by more than 50% in the past two years. Yet the IMF warned of “growing evidence” that the successful rollout of AI “may not require investment on the massive scale being undertaken by ‘hyperscaler’ firms”, and “potential economic gains may not be as large as expected”.

Threat of AI share crash puts world financial stability at risk, says IMF