Andrew Freris, CEO, Ecognosis Advisory believes the ongoing conflict in West Asia is unlikely to be short-lived and could reshape global energy flows for years rather than months.
Speaking to ET Now, he suggested that oil prices like Brent may remain elevated and that markets need to adjust to a prolonged phase of disruption rather than a temporary shock.
He said, “It seems like it is going to be a long drawn thing… Does it seem like $100 could be the new reality for Brent?” Freris argued that the strategic importance of the Strait of Hormuz is likely to decline over time as countries develop alternative supply routes.
According to him, “The Hormuz Straits are going to become irrelevant.” He added that energy exporters are already working on bypass mechanisms, saying, “Turkey is outlining pipework. Saudi Arabia already has bypass routes in place.” In his view, such adjustments will take time, making the transition disruptive but structural, and he described the outlook as a “two-year view” rather than a short-term market event.
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On equity markets, Freris noted the disconnect between record highs and underlying fundamentals. While global indices continue to scale new peaks, he said the rally is being driven largely by artificial intelligence-related enthusiasm rather than broad-based earnings strength.
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Responding to a question on why markets remain firm despite global uncertainty, he said, “It is driven by artificial intelligence.” He cautioned that valuations are being pushed higher without sufficient earnings justification, adding, “We will push the S&P to highs on AI, but there is no real earnings justification.” He also expressed discomfort with the level of concentration in US benchmarks and advised caution, stating, “I am telling clients to reduce US positions.” At the same time, he pointed out that several Asian markets have performed better in dollar terms compared to the S&P. Freris further highlighted the uneven nature of US corporate earnings, noting that while some sectors remain strong, especially those linked to technology and AI, the overall picture is inconsistent. He said, “Earnings from AI and IT are variable.” He also warned that expectations around investment in artificial intelligence may be overstated, remarking, “Investment in AI is massively exaggerated.” According to him, the heavy reliance on a small group of large-cap stocks makes the broader index vulnerable, as “the S&P is driven by about 10 stocks,” which he believes creates discomfort from a valuation and risk standpoint.Overall, Freris sees a widening gap between markets and macro risks, with energy markets adjusting to long-term geopolitical realignments while equity markets remain heavily dependent on a narrow AI-driven narrative. He suggests that both themes—structural energy disruption and concentrated equity leadership—are likely to define global markets over a multi-year horizon rather than in the near term.
A British artificial intelligence company founded by one of the architects of fintech unicorn Tide has written to every Member of Parliament warning that the political debate over children’s smartphone use has descended into a “false choice” between blanket bans and unrestricted access.
SafetyMode, the London-headquartered child safety technology firm led by Tide founder George Bevis, has used the parliamentary intervention to press ministers to consider a third path, arguing that on-device technology can give parents meaningful control without locking children out of the digital economy altogether.
The timing is not accidental. The letter lands in Westminster postbags days after a landmark American court ruling found that several of Silicon Valley’s largest platforms had knowingly engineered addictive products for young users, a judgment that has sharpened the appetite among legislators on both sides of the Atlantic for tougher action.
In Britain, the political mood music has shifted markedly over the past eighteen months, with cross-party support building for tighter restrictions on under-16s. Yet SafetyMode’s pitch to MPs is that the conversation has narrowed prematurely.
“Right now, the entirety of the conversation around social media and phone safety seems to pretend all we can achieve is either to open the floodgates entirely or to ban them completely, losing all benefits these technologies may offer,” the company writes in its letter, copies of which have been seen by Business Matters.
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The firm, founded by Mr Bevis alongside Bertie Aspinall and product specialist Dan Barker, has spent the past two years developing what it claims is one of the most sophisticated parental control platforms on the market. Unlike rival products that route children’s data through cloud servers, SafetyMode’s technology runs artificial intelligence directly on the device, filtering harmful content in real time while keeping personal information off external servers.
The product was built in partnership with parenting forum Mumsnet, whose research underpins much of the company’s commercial thesis. More than 90 per cent of parents surveyed told Mumsnet that current smartphones are not safe enough for children, while 86 per cent expressed concern about the impact of devices on their child’s mental health and attention span.
Speaking to Business Matters, Mr Bevis said the political class risks reaching for the bluntest available instrument. “We are at a turning point in how society views children and smartphones. There is clear agreement that there is a problem, but the solutions being discussed are too narrow. Regulation matters, but it takes time, and it cannot be the only answer.”
Mr Aspinall, the firm’s co-founder, struck a more pointed note. “The courts, governments, schools and parents all recognise the risks. But companies at the heart of this won’t fix it themselves. So the question becomes, what do we do next? On the one hand is regulation. But if we want to protect children now, the answer is simple. You build safety into the device itself and put control back in the hands of parents.”
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The company’s technology has been designed to read context rather than merely scan for prohibited keywords, identifying when conversations turn abusive, sexualised or otherwise damaging, even when those exchanges would slip past conventional filters.
For now, SafetyMode is available only on Android handsets. The firm has been openly critical of Apple, arguing that the Cupertino giant’s restrictions on third-party developers prevent meaningful parental controls being built for iPhone users, a complaint that echoes broader regulatory scrutiny of Apple’s walled garden in both Brussels and Washington.
There is also an industrial strategy dimension to the company’s lobbying. SafetyMode is positioning Britain as a potential global hub for what it calls the “safe tech for kids” movement, arguing that ministers could combine child protection with a fresh wave of innovation, investment and skilled job creation if they chose to back domestic firms developing protective technologies.
Whether MPs will be receptive remains to be seen. Backbench pressure for outright restrictions on under-16s using social media has hardened in recent months, and Whitehall has shown limited appetite for technological solutions that depend on parental engagement. But with the American courts now exposing platform behaviour in unprecedented detail, the case for action of some kind appears unstoppable.
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The question Mr Bevis and his colleagues are putting to Parliament is whether that action should empower parents or simply slam the door shut.
Amy Ingham
Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.
James and Katie Allen want to open the heritage tannery at Great Cotmarsh Farm near Broad Town
Peter Davison, Local Democracy Reporter
09:23, 28 Apr 2026
Cows in a field(Image: DC Media)
Plans to establish the UK’s first micro-scale vegetable tannery for cattle hides at a farm in the Wiltshire countryside have been revealed. James and Katie Allen are seeking to launch the heritage tannery at Great Cotmarsh Farm near Broad Town.
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The pair acquired the farm in 2023 and began developing a varied portfolio of business ventures, including a glamping site featuring a shepherd’s hut, and a farm classroom for fashion students teaching sustainable production techniques such as wool-weaving and natural dye-making.
They now intend to add leather production to their offering, through the establishment of a heritage tannery – and have lodged a planning application for change of use to an existing farm building which they reconstructed in 2024.
Their agent, agricultural consultant Woolley & Wallis, has informed the council: “The use of the building for leather tanning of their own hides from the herd established on the farm is still considered agricultural.
“The use as a tannery is ancillary to their agricultural enterprise, much like a farm shop selling their own produce or a farmer producing wine from his grapes on site.
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“The tannery produces, sustainable, high-quality, vegetable-tanned cow leather that the applicant can trace back to the exact animal reared on the land.”
The UK was formerly a global leader in leather production for everything from footwear to saddles, with every market town boasting a tanner. However, tanning is a declining craft, and the tanneries still operating rely on dangerous chemicals to speed up the procedure.
“Traditional oak bark tanning is now classified as critically endangered on the Heritage Crafts red list,” said James.
“We are in danger of losing the knowledge from the country completely as the last tanning experts retire.
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“Our leather will be made to produce our own leather goods, but also to supply brands looking for hero collections that want true transparency along the leather supply chain, and for artisan leather workers and makers.
“In the future, we’d like to be able to offer farmer returns, enabling farmers to generate another income stream from their cattle enterprise.”
Our micro-scale tannery is an important part of the field-to-fibre story and knowledge exchange we are building on the farm, and we hope to support the creation of other micro tanneries to help reinvigorate a heritage craft that once was a burgeoning part of British enterprise.
A ruling from Wiltshire Council is expected by mid-June.
OAKLAND, Calif. — Elon Musk unleashed a blistering attack on OpenAI CEO Sam Altman on Monday, labeling him “Scam Altman” and accusing him along with President Greg Brockman of stealing a charity in a viral X post that landed squarely on the first day of jury selection in Musk’s high-stakes lawsuit against the artificial intelligence company.
Elon Musk and Sam Altman AFP
The post, which amassed more than 22 million views within hours, revived Musk’s long-standing grievances over OpenAI’s transformation from a nonprofit he helped found in 2015 into a for-profit powerhouse now valued in the hundreds of billions. “Scam Altman and Greg Stockman stole a charity. Full stop,” Musk wrote, deliberately misspelling Brockman’s surname as “Stockman” in apparent mockery.
Scam Altman and Greg Stockman stole a charity. Full stop.
Greg got tens of billions of stock for himself and Scam got dozens of OpenAI side deals with a piece of the action for himself, Y Combinator style. After this lawsuit, Scam will also be awarded tens of billions in stock… https://t.co/R27ZeG9nNR
Musk detailed what he called a profound betrayal: “Greg got tens of billions of stock for himself and Scam got dozens of OpenAI side deals with a piece of the action for himself, Y Combinator style. After this lawsuit, Scam will also be awarded tens of billions in stock directly.” He framed the legal fight in stark moral terms for the American public: “Do you want to set legal precedent in the United States that it is ok to loot a charity? If so, you undermine all charitable giving in the United States forever.”
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The timing was no coincidence. Jury selection opened Monday in Alameda County Superior Court here for Musk’s civil case, which centers on allegations that OpenAI breached its original charitable trust by shifting to a capped-profit model and striking massive commercial deals, most notably with Microsoft. Musk has dropped earlier fraud claims but is pressing forward with breach-of-charitable-trust arguments. He has repeatedly stated that any damages awarded would return to the nonprofit mission rather than lining his pockets.
Musk reminded followers of his foundational role: “I could have started OpenAI as a for-profit corporation. Instead, I started it, funded it, recruited critical talent and taught them everything I know about how to make a startup successful FOR THE PUBLIC GOOD. Then they stole the charity.” The post quoted at length a detailed thread from user @XFreeze recounting how Musk put up his own money, assembled top AI talent and launched the organization explicitly as a pure nonprofit with zero profit motive and open research.
OpenAI was established in late 2015 as a nonprofit research lab with Musk, Altman, Brockman and others as co-founders. Musk stepped down from the board in 2018 amid disagreements, including concerns about Tesla’s competing AI work. The company later created a for-profit subsidiary in 2019 to raise the enormous capital needed for cutting-edge AI development, a move it has defended as necessary and fully disclosed.
OpenAI has called Musk’s lawsuit meritless, arguing he was aware of and initially supportive of the hybrid structure that enabled breakthroughs like ChatGPT. The company maintains it remains committed to its mission of developing safe artificial general intelligence that benefits all of humanity.
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Legal observers said Musk’s public broadside could color potential jurors’ views even as the courtroom process unfolds. The case is expected to examine internal documents, emails and founding agreements that detail the 2019 restructuring. Witnesses will likely include early employees, board members and AI ethicists. The trial could last weeks or months, with appeals almost certain.
Public reaction on X was swift and polarized. Supporters praised Musk for defending charitable principles, with one reply stating, “If the courts let Sam Altman and Greg Brockman loot a nonprofit they turned into their personal multi-billion-dollar piggy bank, then every charity in America just became fair game for grifters in Silicon Valley.” Others mocked the dispute, with critics accusing Musk of sour grapes after walking away from OpenAI and launching rival xAI.
The feud has thrust into the spotlight broader questions about governance of nonprofits in the tech sector, where enormous capital requirements often clash with original humanitarian missions. Charitable-giving experts warn that a ruling perceived as endorsing the conversion of nonprofits into personal windfalls could deter future philanthropy, particularly in high-stakes fields like AI.
OpenAI continues to dominate the AI landscape, with its models powering consumer chatbots, enterprise tools and research worldwide. Revenue has soared into the billions annually. Altman has testified that the for-profit structure was essential to scaling responsibly rather than ceding ground to less-regulated competitors.
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Musk has used his ownership of X to amplify warnings about AI safety, positioning xAI as a “maximum truth-seeking” alternative. The OpenAI lawsuit, however, focuses narrowly on contractual and fiduciary duties tied to the nonprofit origins rather than philosophical differences over AI alignment.
For Silicon Valley, the trial represents more than a personal clash between two titans. It could reshape how future AI ventures structure themselves and how courts interpret founding charters in rapidly evolving industries. Investors are monitoring closely; a Musk victory might open the door to similar challenges against other hybrid models.
As jury selection continued into Tuesday, April 28, Musk showed no signs of backing down. His Monday post echoed arguments his legal team has made in court filings, emphasizing that he recruited key talent and poured resources into OpenAI specifically because it was structured as a charity. “Then they stole the charity,” he concluded.
OpenAI has not commented directly on the latest post but has previously described Musk’s claims as revisionist history. The company notes that Musk proposed merging OpenAI with Tesla in 2018 — a move the board rejected — before departing. It says it has honored its mission by releasing research, building safety systems and pursuing AGI for humanity’s benefit.
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The broader AI race has intensified since OpenAI’s founding. What began as a small research collective has become a global competition involving governments, tech giants and startups. Musk’s xAI, Anthropic, Google DeepMind and others now vie fiercely, raising questions about whether any single entity can serve as a neutral steward of humanity’s most powerful technology.
Whatever the jury decides, the Musk-Altman dispute has already highlighted critical issues of trust, governance and the public good in the AI era. With billions in potential value and humanity’s technological future on the line, Monday’s explosive post served as a vivid reminder that the courtroom battle is as much about narrative as it is about law.
As the trial advances, both sides will present evidence that could reshape not only their corporate futures but also precedents for charitable organizations in the innovation economy. For now, Musk’s viral message ensures the public debate over OpenAI’s origins and direction remains front and center.
Indian equity markets continue to reflect a mix of strong sectoral growth and emerging near-term risks, particularly around input costs, competition, and valuations. In a conversation with ET Now, market expert Sandip Sabharwal maintained a broadly constructive long-term stance but emphasised the importance of selectivity in the current environment.
On the auto sector, including names like Maruti Suzuki, Sabharwal remained positive over the long term but flagged short-term pressure from rising costs.
“Long term I am bullish and we hold M&M, Maruti and Bajaj Auto, but near-term issues remain due to input costs, especially steel.” He added that while valuations are not stretched, cost pressures and sentiment around fuel prices could weigh on demand in the near term. “Fuel price changes may not matter long term, but they impact sentiment. Near-term concerns are there,” he said.
Turning to small finance banks and NBFCs, Sabharwal adopted a more cautious tone, pointing to aggressive guidance and potential stress in lending pockets. “Guidance does not look conservative; it appears aggressive given possible stress pockets.” He stressed that in financials, asset quality is more important than headline profitability. “Profits matter less; asset quality is what drives long-term wealth creation.” He also indicated a preference for more conservative lenders in a potentially slowing economic environment.
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On market structure, Sabharwal highlighted a shift in opportunity towards midcaps following a recent correction.
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“Midcaps saw a sharp correction since September 2024. This creates stock-picking opportunities.” He suggested that investors should avoid broad-based bets and instead focus on selective opportunities in mid and smallcap segments. “It is better to cherry-pick midcaps and selective smallcaps now.” On sectoral themes, he preferred consumer durables as a play on seasonal demand rather than Coal India. “ACs, fans and cooler companies should do well this summer.” While acknowledging Coal India’s valuation comfort, he remained unconvinced on its medium-term appeal. “It is not expensive, but I am not a big fan of Coal India.”In the quick commerce space, Sabharwal flagged rising competitive intensity as a key concern for players like Eternal and Swiggy. “Amazon entering quick commerce could cap upside for these stocks.” He noted that profitability remains under pressure and increasing competition could limit near-term upside. “Upside looks capped for now given competition and cost pressures.”
On Sun Pharma’s recent acquisition, Sabharwal said the initial market reaction has been positive, but cautioned that large deals in the pharma sector typically take time to integrate. “The deal looks like a good strategic fit.” However, he added, “Large pharma acquisitions are rarely easy; integration takes time.” He also pointed out that the acquisition price is on the higher side, suggesting investors should adopt a wait-and-watch approach.
Overall, Sabharwal’s view suggests a market environment where macro and sectoral tailwinds remain supportive, but returns are increasingly likely to be driven by disciplined stock selection rather than broad-based rallies.
Retirement doesn’t have to mean the end of earning income. For many parents, it’s actually the perfect time to explore small business opportunities that are less stressful, more flexible, and personally fulfilling. After years of working hard and raising a family, retirement opens the door to turning hobbies, skills, and life experience into something profitable.
Whether your goal is to supplement your pension, stay mentally active, or simply enjoy a meaningful routine, starting a small business can be one of the best decisions you make. In this article, we’ll explore practical and realistic business ideas that parents can start during retirement.
Why Start a Business During Retirement?
Before diving into the ideas, it’s important to understand why many retirees choose to start a business:
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Extra Income: Helps cover daily expenses or unexpected costs.
Flexibility: You control your schedule and workload.
Purpose: Staying productive can improve mental and emotional health.
Legacy: You can build something to pass on to your children.
The key is to choose a business that matches your energy level, interests, and financial capacity.
If you love cooking, this is one of the most practical businesses you can start. Many parents already have years of experience preparing meals, making this a natural transition.
You can sell:
Home-cooked meals
Baked goods
Snacks or local delicacies
Start small by selling to neighbors, friends, or through social media. This business requires minimal investment and can be done right from your kitchen.
A small neighborhood store is a classic retirement business. It’s simple to manage and provides steady daily income.
Advantages include:
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Consistent demand
Easy to operate
Community interaction
You can expand over time by adding mobile load, bills payment services, or even frozen goods.
With the rise of e-commerce, parents can now run a business without leaving home. Online selling is perfect for retirees who want flexibility.
Popular items to sell include:
Clothing and accessories
Household items
Health products
Platforms like Facebook Marketplace or online shopping apps make it easy to connect with customers.
4. Rental Business
If you have extra space or assets, renting them out can provide passive income.
Examples:
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Room or apartment rental
Vehicle rental
Event equipment rental (chairs, tents, etc.)
This type of business requires less daily effort once set up properly.
5. Gardening and Plant Selling
For parents who enjoy gardening, this can be both relaxing and profitable.
You can sell:
Ornamental plants
Herbs and vegetables
Landscaping services
With the growing interest in home gardening, this business has strong potential.
Laundry services are always in demand, especially in busy communities.
You can start with:
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Wash-and-dry services
Ironing services
Pickup and delivery options
This business can be scaled gradually depending on your capacity.
7. Tutoring or Coaching
Parents with professional or academic experience can share their knowledge through tutoring.
Opportunities include:
Academic tutoring (Math, English, etc.)
Music lessons
Life skills coaching
This is a low-cost business that allows you to make a meaningful impact.
8. Handicrafts and DIY Products
If you enjoy creating things, you can turn your hobby into a source of income.
Examples:
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Handmade bags
Decorations
Personalized gifts
These can be sold online or at local markets.
9. Small Farming or Livestock
If you have access to land, small-scale farming can be a rewarding retirement business.
You can raise:
Or grow crops such as vegetables and fruits. This can also reduce your household expenses while generating income.
10. Boarding House or Bed-and-Breakfast
If you have extra rooms, converting them into a rental space is a great long-term business.
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This is ideal for areas near:
Schools
Offices
Tourist spots
It provides steady monthly income and can be managed with minimal effort.
Tips for Choosing the Right Retirement Business
Not all businesses are suitable for everyone. Here are some important tips:
Start Small: Avoid large investments at the beginning.
Choose What You Enjoy: Passion makes the work easier.
Consider Your Health: Pick a business that matches your physical ability.
Manage Time Wisely: Retirement should still feel relaxed.
Involve Family: This can strengthen relationships and share responsibilities.
Retirement is not the end of productivity—it’s a new beginning. For many parents, starting a small business provides financial security, personal fulfillment, and a renewed sense of purpose.
The best business is not necessarily the biggest or most profitable one, but the one that fits your lifestyle and brings you joy. Whether it’s cooking, selling, teaching, or growing plants, there are countless opportunities waiting to be explored.
Take the first step, start small, and enjoy the journey. After all, retirement should not just be about resting—it should also be about living fully and meaningfully.
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Disclaimer: Before starting any business, it is recommended to check local regulations, permits, and requirements in your area to ensure compliance with the law.
Business News Philippines was launched in October 2015 as a portal for readers to learn more about operating a business in the Philippines.
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