Business
Sebi, CBDT ease PAN rules for foreign investors after onboarding concerns
In a statement issued on Friday, Sebi said CBDT has provided multiple clarifications to simplify the PAN allotment process for FPIs following stakeholder feedback on the new Income-tax Rules, 2026 and revised PAN application forms notified in March this year.
The issue had arisen after the updated PAN forms introduced additional mandatory fields including taxpayer identification number details, representative assessee information and compulsory mobile number disclosure requirements.
Foreign investors and market intermediaries had raised concerns that many of these requirements were difficult to comply with across multiple jurisdictions, potentially complicating the onboarding process for FPIs investing in Indian markets.
Sebi said it actively engaged with CBDT after receiving representations from stakeholders to ensure that the PAN issuance framework remained smooth and investor-friendly.
Under the revised clarifications, CBDT said the name of the authorised signatory mentioned in the Common Application Form (CAF) would be sufficient for the representative assessee or authorised representative field in PAN applications.
The tax department also clarified that the liability of the authorised signatory would remain limited only to the purpose of applying for PAN and that no supporting documents related to the authorised signatory or representative assessee would be required.CBDT further eased address and contact-related compliance requirements. According to the clarification, if details such as mobile number, landline number or email address of the authorised signatory are unavailable, FPIs may provide their own contact information instead.
In another relief measure, CBDT said that if PAN, Aadhaar or passport details of the authorised signatory are unavailable, the FPI registration number can be furnished in the application.
The tax authority also addressed concerns around taxpayer identification numbers for jurisdictions where such systems do not exist.
CBDT clarified that in cases where TIN or an equivalent number is not applicable, applicants may fill the field using the value “0000000000”. Additionally, if an FPI does not have a mobile number, it may provide a landline number instead while furnishing contact details.
Sebi said the latest measures are aimed at ensuring continued ease of onboarding for foreign portfolio investors.
FPIs currently use a single Common Application Form for multiple regulatory processes including Sebi registration, opening bank and demat accounts and obtaining PAN registration in India.
Business
The Hidden Cost of DIY Marketing (And Why It’s Killing Your Brand)
There is a certain pride in doing your own marketing.
I see it all the time. It signals control. Efficiency. The belief that no one understands the business better than the people inside it. And to be fair, at the beginning, that’s often true.
But what starts as a practical decision has a way of turning into a long-term habit. And that’s where the problem begins because the cost of DIY marketing isn’t obvious. It builds slowly, quietly, and often invisibly. By the time most businesses recognize it, the damage has already been done.
When Activity Replaces Strategy
Most marketing doesn’t fail outright. It fragments.
A campaign here to boost sales. A few posts there to stay “active.” Maybe some ads when revenue dips. Each move feels justified in the moment, but step back and look at it as a whole, and something becomes clear: there’s no unifying direction.
That’s not a strategy. That’s motion.
And motion without positioning is one of the fastest ways to weaken a brand.
When your messaging shifts depending on what you need this week, your audience doesn’t know what to hold onto. Are you premium or affordable? Specialized or broad? Different or just another option?
If you’re not consistently answering those questions, the market will answer them for you and usually not in your favor.
The Performance Trap
There’s a pattern I’ve seen repeat across industries. I call it the performance trap. It starts with good intentions. You run ads, track conversions, optimize what’s working. On paper, it looks smart. Data-driven. Efficient.
But over time, your entire strategy gets reduced to one question: what’s working right now?
And that’s where things start to break.
Because when you prioritize short-term response above everything else, you begin making decisions that weaken long-term perception. You lean into discounts because they convert. You simplify messaging until it loses its edge. You chase what gets clicks instead of what builds meaning.
You’re no longer building a brand. You’re feeding a machine.
And the outcome is predictable: rising costs, shrinking margins, and a customer base that only responds when there’s an incentive.
So it’s worth asking, are you building something people remember, or just something they react to?
When Cheap Becomes Expensive
DIY marketing is often framed as a cost-saving move.
It isn’t.
It’s more like cutting your own hair. You can do it. It might even look fine at first. But small mistakes add up. The shape gets uneven. The structure falls apart. And eventually, fixing it costs more than doing it properly from the start.
Marketing works the same way.
Every unclear message, every inconsistent campaign, every unnecessary discount shapes how people perceive your brand. And perception isn’t a small thing it’s the thing. It determines whether someone trusts you, chooses you, or is willing to pay more for what you offer.
Strong brands routinely command price premiums often 10 to 20 percent higher than competitors offering similar products or services. That gap isn’t created by better tactics. It’s built through clarity and consistency over time.
Once you lose that, you’re not just adjusting campaigns. You’re rebuilding trust.
Why Strategy Requires Distance
One of the biggest challenges with doing everything internally is proximity.
You’re too close to it.
You know the product inside out. You understand the nuances. But your customer doesn’t. And when you’re operating from the inside, it’s easy to assume what’s obvious to you is obvious to them.
It rarely is.
I often say it this way: you can’t read the label from inside the jar.
That’s why strategy requires distance. Not more activity, not more content but clearer thinking. A defined position. A message that reflects how your audience actually makes decisions, not how you wish they did.
Through my work at Brand Boss HQ I focus on helping businesses step back and build that clarity through what I call Strategic Storytelling™. It’s about aligning what you say, how you say it, and what you do so the market sees you the way you intend to be seen.
Because when that alignment is in place, everything else becomes more effective.
The Cost You Don’t See
The biggest risk of DIY marketing isn’t what shows up in your reports.
It’s what doesn’t.
The customers who don’t convert because your message didn’t land. The opportunities you don’t attract because your positioning isn’t clear. The premium you can’t charge because your brand feels interchangeable.
Those losses don’t get tracked. But they shape your growth more than any single campaign ever will.
So the question isn’t whether you can do your own marketing.
It’s whether what you’re building is intentional.
Are you creating a brand that people recognize, trust, and are willing to pay more for? Or are you just staying busy, hoping your efforts eventually add up?
Because they won’t. Not without direction.
If you’re honest, you already know which one you’re doing.
The real question is—are you going to keep going, or are you finally going to fix it? Give us a call.
Business
U.S. Gold Corp. finalizes feasibility study for CK Gold Project in Wyoming

U.S. Gold Corp. finalizes feasibility study for CK Gold Project in Wyoming
Business
Inventiva's Speculative Upside Through MASH Is Promising
Inventiva's Speculative Upside Through MASH Is Promising
Business
Monster beverage chief strategy officer sells $8.48m in stock

Monster beverage chief strategy officer sells $8.48m in stock
Business
Monster Beverage CFO Thomas Kelly sells $614,670 in company stock

Monster Beverage CFO Thomas Kelly sells $614,670 in company stock
Business
Food Inflation and the Case for UK Food Safety Training
UK consumers and food businesses face a food inflation conversation that shapes both the household weekly shop and the operational priorities of retailers, food service operators, and community food programmes.
Recent ONS and Food Standards Agency-tracked data highlight an increasingly central role for food costs in household financial concerns. Investment in food handling and food safety training sits at the intersection of statutory compliance, operational discipline, and consumer-facing service. The right approach reads each operation’s specific risk profile before specifying a programme.
The same disciplined evaluation that informs other business decisions translates to food business operations. Industry consumer research shows that 91% of UK consumers cite food costs as a major concern when surveyed about household financial pressure. UK food businesses running structured food handling and food safety programmes typically see meaningful reduction in operational waste and audit risk, with some operators reporting waste reductions in the 20 to 35 per cent range over rolling 24-month windows. Food inflation refers to the rate of change in the cost of food and non-alcoholic beverages within a national price index. The decision rewards a few hours of structured preparation before booking a training provider.
Why Has Food Inflation Become More Strategic for UK Businesses?
Three structural shifts have moved food-business investment into more strategic territory across UK operators. The first is the consumer-pressure shift. Households increasingly compare prices across retailers and adjust shop frequency in response to cost movements.
The second is the operational-cost shift. Food businesses absorb input-cost rises across supply chains, energy, and labour. The third is the regulatory-discipline shift. Food Standards Agency expectations remain consistent regardless of the cost-pressure environment.
The Food Standards Agency’s food hygiene guidance for businesses outlines the regulatory framework UK food operators reference. Coverage of the UK inflation reading reported by BM Magazine puts the headline cost picture in context for food retailers and food service operators.
What Should UK Food Businesses Verify Before Investing?
Six checks belong on every food-business investment review. The table below summarises what UK operators should weigh before commitment.
| Check | Why It Matters | What to Confirm |
| Trainer credentialing | Recognised qualification | CIEH, RSPH, or Highfield-aligned course |
| Course-specific scope | Match to operation type | Retail, kitchen, distribution covered |
| Hands-on assessment | Practical evaluation included | On-site walk-through completed |
| Schedule flexibility | Match to operating calendar | Out-of-hours delivery available |
| Documentation | FSA-aligned records | Completion certificate plus refresher schedule |
| Refresher cadence | Knowledge retention | 3-year refresher cycle |
A training provider that produces clear answers across these six points signals a programme worth retaining. A provider that deflects on any of them signals a generic course that may not match the specific operation profile. The Acas health and wellbeing at work guide covers complementary employer-relations guidance.
Which Food Business Categories Reward Specialist Programmes Most?
Three food business categories reward dedicated training investment more than the others:
- Independent retail and convenience operations where margin pressure and inventory-turnover discipline both interact with food-safety expectations
- Food-service and hospitality operations where temperature control, allergen management, and customer-facing service all face routine inspection
- Wholesale and distribution operations where cold-chain integrity, stock-rotation, and labelling all shape both safety and waste outcomes
UK food businesses comparing prevention programmes benefit from reviewing recent local audit patterns. Online courses typically cost £15 to £50 per delegate. Blended in-person delivery runs £100 to £350 per delegate. Specialist providers describe the realistic reduction in audit findings over rolling windows. Coverage of retail business rates and food prices helps food retailers frame the wider cost picture before choosing a training partner.
What Common Mistakes Surface in UK Food Business Operations?
Several patterns recur. The first is choosing on price alone. The cheapest course often skips meaningful practical-assessment time.
The second is treating training as a one-off compliance event. Knowledge retention from a single training session typically fades within 12 to 24 months without reinforcement.
The third is overlooking the temperature-monitoring discipline. Hot-holding, cold-holding, and reheating all require active monitoring and recording.
The fourth is forgetting the allergen-management pathway. UK regulation requires clear allergen labelling on prepacked foods. The fifth is signing without confirming the documentation pathway.
What Is the Bottom Line for UK Food Businesses?
The food-business investment decision rewards UK operators that plan rather than improvise. The window for thoughtful preparation typically runs from the annual operational review through to the training-provider comparison phase. The right approach coordinates the training, the equipment investment, the temperature-monitoring discipline, and the allergen-management pathway rather than treating each as a separate engagement.
Whether the operator runs a single retail unit, a hospitality venue, or a multi-site operation, the criteria translate cleanly. The first provider conversation should answer specific questions about credentialing, course scope, hands-on assessment, and documentation. UK food businesses that run real comparison processes early end up with cleaner long-term outcomes than businesses that default to whichever provider was first recommended. Pre-engagement preparation pays back across the entire operation, with operators that maintain disciplined refresher cadence reporting reductions in food waste and audit findings across rolling 24-month windows.
Frequently Asked Questions
How High Is UK Consumer Concern About Food Costs?
Industry consumer research summarised by Level 2 Food Hygiene suggests that approximately 91 per cent of UK consumers identify food costs as a major concern. The figure reflects both objective price movement and the visibility of weekly shop costs in household budgets. Lower-income and larger-household consumers report higher concern levels. The figure has remained elevated across recent reporting cycles even as headline inflation has moderated.
How Much Does Food Business Training Cost?
Online Level 2 food hygiene courses typically cost £15 to £50 per delegate. Blended in-person delivery runs £100 to £350 per delegate depending on operation complexity and assessment depth. Larger operators typically negotiate volume discounts at 25-plus delegate enrolments. The cost is small relative to the cost of a single serious food-safety incident or audit finding.
What Are the Penalties for Food Safety Non-Compliance?
Food-safety non-compliance can lead to enforcement action including improvement notices, prohibition notices, and fines. Serious cases can result in unlimited fines on conviction. Reputational damage on public records can also affect customer relationships and tender eligibility. Most enforcement responds to patterns of non-compliance rather than isolated events.
How Often Should UK Food Businesses Refresh Training?
Most food-safety training benefits from refresher delivery every 3 years for Level 2 qualifications. Higher-risk roles (allergen management, supervisor responsibilities) often warrant earlier refresher cycles. New starters typically receive induction-level training within the first 30 days of starting. The Food Standards Agency expects operators to maintain documented training records.
Business
Dillards – A 3-Year Review In 2026 With A “HOLD” (NYSE:DDS)
Wolf Report is a senior analyst and private portfolio manager with over 10 years of generating value ideas in European and North American markets, and the owner of Wolf of Value, a service focusing on international dividend-paying value investments.He further covers the markets of Scandinavia, Germany, France, UK, Italy, Spain, Portugal and Eastern Europe in search of reasonably valued stock ideas.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
While this article may sound like financial advice, please observe that the author is not a CFA or in any way licensed to give financial advice. It may be structured as such, but it is not financial advice. Investors are required and expected to do their own due diligence and research prior to any investment.
Short-term trading, options trading/investment and futures trading are potentially extremely risky investment styles. They generally are not appropriate for someone with limited capital, limited investment experience, or a lack of understanding for the necessary risk tolerance involved.
I own the European/Scandinavian tickers (not the ADRs) of all European/Scandinavian companies listed in my articles. I own the Canadian tickers of all Canadian stocks I write about.
Please note that investing in European/Non-US stocks comes with withholding tax risks specific to the company’s domicile as well as your personal situation. Investors should always consult a tax professional as to the overall impact of dividend withholding taxes and ways to mitigate these.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Business
B2Gold: The Re-Rating Setup Is Building As A New Era Begins
B2Gold: The Re-Rating Setup Is Building As A New Era Begins
Business
Dow Plunges 395 Points to 49,667 as Tech Sell-Off Triggers Broad Market Pullback
NEW YORK — The Dow Jones Industrial Average tumbled nearly 400 points Thursday, closing at 49,667.97 as a sharp sell-off in technology shares and renewed concerns over interest rates weighed on investor sentiment and triggered a broad retreat across Wall Street.
The blue-chip index dropped 395.49 points, or 0.79 percent, marking its largest one-day point decline in several weeks. The S&P 500 fell 0.65 percent while the Nasdaq Composite, heavily weighted toward technology, posted a steeper 1.12 percent loss as mega-cap names came under pressure.
Trading volume remained elevated throughout the session as investors digested mixed economic signals and repositioned portfolios amid uncertainty about the Federal Reserve’s next moves. The decline erased gains from earlier in the week and highlighted the market’s vulnerability to shifts in risk appetite.
Tech Sector Leads the Decline
Technology stocks bore the brunt of the selling. Nvidia, Apple, Microsoft and other heavyweights in the Dow and broader indices retreated as traders took profits following a strong run driven by artificial intelligence enthusiasm. Concerns about valuation levels in the sector, combined with reports of potential regulatory scrutiny on big tech, added to the downward pressure.
Energy and financial shares offered some relative stability. Oil prices held firm amid ongoing Middle East tensions, supporting energy names, while select banks benefited from expectations of steady interest rates. However, these pockets of strength were not enough to offset losses in more growth-oriented areas of the market.
Economic Data and Fed Outlook in Focus
The pullback came as investors parsed the latest inflation readings and labor market data. While recent figures have shown some cooling in price pressures, persistent strength in certain areas has kept the Federal Reserve on hold. Market participants are now pricing in fewer rate cuts for the remainder of 2026 than previously expected, a shift that has weighed on equities sensitive to borrowing costs.
Economists note that the economy remains resilient overall, with consumer spending and corporate earnings holding up better than feared. Yet the combination of geopolitical risks, including developments in the Middle East, and domestic policy uncertainty continues to create a cautious backdrop for investors.
Analyst Perspectives
Market strategists described Thursday’s move as a healthy correction rather than the start of a deeper downturn. “We’ve had a strong run, and some profit-taking was inevitable,” said Sarah Chen, chief investment strategist at a major New York-based firm. “The Dow had been hovering near all-time highs, and today’s decline reflects rotation out of some of the more extended names.”
Others pointed to technical factors. The Dow had been trading in a relatively narrow range recently, building tension that finally released with today’s move. Support levels near 49,200-49,300 could provide a floor if selling intensifies, while resistance sits around the recent highs above 50,000.
Broader Market Context
The Dow’s performance stands in contrast to its remarkable climb over the past several years. From post-pandemic lows, the index has more than doubled, driven by strong corporate earnings, technological innovation and accommodative monetary policy. Yet periodic pullbacks like Thursday’s serve as reminders that markets do not move in straight lines.
Smaller companies, tracked by the Russell 2000, also felt pressure but held up better than large-cap tech names. International markets showed mixed results, with European indices modestly lower and Asian markets closing mostly in positive territory overnight.
Bond yields edged higher as investors reassessed the path for rates, with the 10-year Treasury yield rising several basis points. The U.S. dollar strengthened modestly against major currencies, reflecting its safe-haven appeal during periods of equity market volatility.
Corporate Earnings Season in Focus
With the earnings reporting season well underway, company-specific news continued to drive individual stock movements. Several major Dow components reported results this week that met or exceeded expectations, yet the broader tone remained cautious as guidance for the rest of the year incorporated economic uncertainties.
Analysts expect second-quarter earnings growth to remain solid but slower than the robust pace seen in 2025. Sectors tied to consumer discretionary spending and technology face closer scrutiny as investors look for signs of sustained demand.
Investor Sentiment and Outlook
Retail investors, tracked through various sentiment surveys, remain largely optimistic about the long-term direction of the market but have grown more tactical in the short term. Many have been adding to defensive positions in healthcare, consumer staples and utilities while trimming exposure to high-valuation growth stocks.
Looking ahead, the market will closely watch upcoming inflation data, the Federal Reserve’s policy signals and developments in global trade negotiations. Any signs of cooling in the labor market could revive expectations for rate cuts later this year, potentially providing support for equities.
For now, Thursday’s decline serves as a reminder of the market’s sensitivity to shifts in momentum. While the Dow remains well above levels from just a year ago, the path forward will likely feature continued volatility as investors balance optimism about innovation and economic resilience against concerns over valuations and policy uncertainty.
The Dow closed the session at 49,667.97. Whether today’s move marks the start of a deeper correction or simply a pause in an ongoing uptrend will depend on how the market digests upcoming data and corporate reports in the days ahead. Investors will be watching closely as Wall Street navigates the delicate balance between risk and reward in an environment full of both opportunity and potential pitfalls.
Business
Tata Steel Q4 Results: Cons PAT soars 147% YoY to Rs 2,965 crore, revenue jumps 13%
The metal major posted a revenue uptick of 13% to Rs 63,270 crore in Q4FY26 versus Rs 56,218 crore posted in the corresponding quarter of the previous financial year.
While the profit after tax (PAT) was lower than Street’s estimates of Rs 3,065 crore, topline beat estimates of Rs 62,440 crore.
The company recommended a dividend of Rs 4 per equity share for the financial year 2025-26 which will be paid subject to shareholders’ approval at the Annual General Meeting (AGM) scheduled on July 2, 2026. It will be paid on and from July 6, 2026, the company’s filing to the exchanges said.
The PAT grew 9% sequentially versus 2,730 crore in Q3FY26 while revenue increased 11% from Rs 57,002 crore posted in the October-December quarter of FY26.
Company’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 9,953 crore in Q4FY26 versus Rs 6,762 crore n Q4FY25, recording a 47% growth.
The company ended the year with a bang, reporting a PAT of Rs 10,886 crore, which more than trebled from Rs 3,174 crore in the year ago. The turnover in the same period stood at Rs 2.32 lakh crore compared to Rs 2.18 lakh crore, posting a 6.4% increase.
Segment revenue
India revenues were at Rs 38,654 crores in Q4 and EBITDA was Rs 9,841 crores, which translates to a margin of 25%. Crude steel production was up 14% YoY to 6.22 million tons and led to ‘best ever quarterly’ deliveries of 6.19 million tons. For FY26, it stood at Rs 1.40 lakh crores and EBITDA was Rs 34,272 crores, which translates to an EBITDA margin of 24%. EBITDA improved by 17% YoY. Performance was aided by ‘best ever’ crude steel production of 23.4 million tons and deliveries of 22.5 million tons.
Netherlands revenues were €1,605 million and EBITDA was €58 million. Liquid steel production was 1.63 million tons and deliveries were 1.70 million tons. For FY26, its stood at €6,028 million and EBITDA was €267 million. EBITDA had almost tripled on YoY basis.
UK revenues were £470 million and EBITDA loss stood at £48 million. Deliveries stood at 0.52 million tons and were impacted by subdued demand dynamics. UK revenues were £1,978 million and EBITDA loss almost halved to £217 million.
Capex
The company has spent Rs 3,655 crores on capital expenditure during the quarter and Rs 14,026 crores for the full year.
Net debt declined by Rs 2,285 crores YoY to Rs 80,144 crores.
Management commentary
T. V. Narendran said FY2026 was marked by heightened global economic uncertainty and tariff-led trade disruptions, but Tata Steel continued to deliver steady operational performance through cost optimisation and disciplined execution. He highlighted that Tata Steel India achieved its highest-ever deliveries of around 22.5 million tonnes, supported by growth in downstream businesses such as tubes, tinplate, wires and branded products.
Narendran added that the company strengthened its position in the automotive segment through rapid customer approvals at Kalinganagar and expanded the reach of Tata Tiscon across nearly all districts in India. He also noted strong growth in the company’s digital commerce platforms and engineering segment volumes, alongside continued investments in expansion projects including the new electric arc furnace at Ludhiana and the proposed NINL expansion.
On the overseas business, he said the UK market could benefit from revised import quotas, while the Netherlands operations continue to face regulatory challenges despite improving pricing conditions in Europe. Narendran further cautioned that geopolitical developments in West Asia have started impacting supply chains and input costs, with the pressures expected to continue into FY2027, prompting the company to undertake calibrated mitigation measures.
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