GUADALAJARA, Mexico — South Korea strengthened its position in Group A with a 2-1 comeback victory over Czech Republic in its opening match of the 2026 FIFA World Cup, boosting its probability of advancing to the round of 32 to 93% according to statistical analysis by The Athletic.

The result puts South Korea level on points with co-host Mexico after the latter’s 2-0 win over South Africa. Myung-Bo Hong’s team overcame an early second-half deficit through goals from In-Beom Hwang and substitute Hyeon-Gyu Oh, showcasing resilience and technical quality in a competitive group opener at Estadio Jalisco.

Match Summary and Key Moments

Czech Republic took the lead in the 59th minute when Ladislav Krejci headed home a long throw-in from Vladimir Coufal. South Korea responded swiftly, with Hwang cutting inside from Kang-In Lee’s pass and clipping a precise finish inside the near post to equalize just eight minutes later.

The winning goal came in the 80th minute as Oh converted Hwang’s low cross from close range. A potential equalizer from Tomas Soucek was correctly disallowed for offside, and goalkeeper Seung-Gyu Kim made a crucial late save to preserve the victory.

The win rewarded South Korea’s superior possession and attacking intent. The team controlled the majority of the ball and created multiple opportunities, particularly through Son Heung-Min, who was denied on several occasions before the comeback materialized.

Advancement Probability and Group Dynamics

The Athletic’s analysis highlighted South Korea’s strong position in the expanded 48-team tournament. With 12 groups of four teams, the top two from each group advance automatically, along with the eight best third-placed sides, creating more pathways to the knockout stages.

Even in the scenario of a loss to Mexico on June 18, South Korea would retain an 86% chance of advancing with a win against South Africa in the final group match. A victory over Mexico would virtually guarantee progression. In the worst-case scenario of two remaining losses, the model still gives South Korea a 55% chance due to the favorable head-to-head result against Czech Republic and the expanded format.

The head-to-head advantage is significant under the tournament’s tiebreaker rules, which prioritize results between tied teams before overall goal difference.

Team Performance and Tactical Strengths

South Korea demonstrated a high level of technical quality and mental fortitude. Central midfielder Hwang and attacking contributors like Lee were instrumental in the comeback. Coach Hong praised the squad’s character. The performance suggests the team can compete effectively against stronger opponents in Group A.

Veteran Son remains a focal point, though support from younger and midfield talents provides balance. The depth of the roster allows for effective substitutions, as seen with Oh’s decisive impact.

Group A Outlook

Mexico currently leads the group after its solid opening win. South Korea’s result sets up an intriguing clash with the co-hosts, while Czech Republic and South Africa will battle to stay alive. The expanded format rewards consistent performances and gives teams more margin for error compared to previous World Cups.

South Korea’s path appears promising, but execution in the remaining matches will be decisive. A strong showing against Mexico could secure top spot, while a competitive effort would still leave advancement highly likely.

Broader Tournament Context

The 2026 World Cup’s 48-team structure has already produced competitive and entertaining matches in the early stages. South Korea’s victory exemplifies the quality across many squads and the opportunities available in the new format.

As one of Asia’s traditional powerhouses, South Korea carries expectations to progress beyond the group stage. The team’s recent form and tactical setup under Hong position it well for a deep run, potentially reaching the knockout stages for the first time since 2010 or better.

Fan and National Reaction

The result has generated widespread celebration in South Korea, with fans praising the team’s fighting spirit and individual contributions. The national team’s performances on the global stage continue to inspire pride and unity at home.

International observers have noted South Korea’s technical improvement and potential as a dark horse in Group A. The match against Mexico will be a key test of ambitions, with both sides capable of strong showings.

Looking Ahead for South Korea

The Socceroos-equivalent focus now shifts to preparation for the Mexico encounter. Maintaining fitness, tactical discipline and confidence will be essential. The team’s ability to perform away from home against quality opposition will be scrutinized.

Regardless of the outcome against Mexico, a positive result against South Africa would likely secure advancement. The squad’s depth and experience provide a solid foundation for the challenges ahead.

The 2026 World Cup continues to unfold with compelling storylines across all groups. South Korea’s strong start has positioned it favorably, offering fans and players alike reason for optimism as the tournament progresses toward the knockout stages.

As more matches are played, the expanded field is proving its value by delivering competitive balance and opportunities for traditional powers and emerging sides alike. South Korea’s 2-1 victory over Czech Republic stands as an early highlight, boosting confidence and statistical prospects heading into the critical middle phase of the group stage.

The road to the round of 32 and beyond remains demanding, but the Taegeuk Warriors have taken a significant step forward with their opening performance. National attention now turns to the Mexico clash, where another strong showing could solidify South Korea’s place among the tournament’s standout teams.

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The number of innovative firms in Wales has fallen sharply

The real test of whether an economy is becoming more productive is not found in political speeches but in the behaviour of businesses. Are they investing in new products? Are they new products, adopting technologies and finding new ways to compete?

That is why the latest UK Innovation Survey matters so much, as it tells us something important and uncomfortable namely, that Wales is not only below the UK average in innovation activity but has fallen further behind over the last three survey periods.

In 2018-20, 43.5% of Welsh businesses were classified as innovation-active, compared with a UK average of 44.9%. By 2022-24, that had changed dramatically and whilst the proportion of innovation-active businesses had fallen to 34% in the UK, in Wales, it had crashed to just 27.7%.

For an economy that has long struggled with productivity, that should be a serious concern because innovation is one of the routes through which businesses become more productive. It is not just about laboratories, patents or university spinouts, although those have their place.

It is also about new ways of working, better technology, improved systems, stronger management, new services and more efficient processes. If fewer Welsh firms are doing these things, then closing the productivity gap becomes even more difficult.

The comparison with the rest of the UK is also uncomfortable and in the latest survey period, England had an innovation-active rate of 34.8%. Northern Ireland was at 30.3%. Scotland was at 29.4%. Wales was last, at 27.7%.

Nor is Wales simply behind London and South East England; it is below every English region and therefore the worst-performing part of the UK. That should challenge any explanation normally out forward by those in power that Wales is only being held back by the exceptional strength of the south-east of England, and the latest figures suggest something broader and more worrying.

The survey also shows that several core innovation activities have weakened across the UK, and the proportion of businesses investing in computer software, computer hardware and internal research and development as part of innovation activity fell from 2018-20 to 2022-24.

These are not marginal business activities as software, hardware and R&D are among the practical foundations of modern productivity, and they are the ways firms improve what they do and how they do it. If these activities are weakening nationally, and Welsh firms are less likely to be innovation active in the first place, the challenge for Wales becomes even greater.

The survey also reminds us that larger firms are more likely to innovate. In 2022-24, some 47% of large UK businesses were innovation active, compared with 34% of SMEs. That matters because Wales has a business base heavily shaped by small and medium-sized enterprises and fewer large private-sector headquarters than stronger-performing regions.

This is not a criticism of Welsh SMEs, as many are ambitious, creative and resilient, but smaller firms often have less time, less capital, fewer specialist staff and less management capacity to invest in innovation. The owner-manager, dealing with cash flow, recruitment, customers, regulation and day-to-day delivery, may recognise that technology adoption or process improvement is necessary but still struggles to make it happen.

The barriers identified in the survey underline this point and among broader innovators, 21.6% identified the cost of finance as a barrier, 20.3% cited the availability of finance, and 19.6% said the direct cost of innovation was too high.

So the issue is not simply whether firms have ideas, it is whether they have the money to act on them and, as I have pointed out so many times, questions need to be asked as to why the Welsh Government own funding body, the Development Bank of Wales, has not specifically addressed this critical issue.

The technology findings are equally important as broader innovators are far more likely than non-broader innovators to use artificial intelligence, CRM (customer relationship management) systems, ERP (enterprise resource planning) software, project management tools and other management technologies.

This matters because productivity – which is now the touchstone for this new Plaid Cymru Government – is often lost not in dramatic failures, but in ordinary inefficiencies, including poor customer management, slow invoicing, poor workflow and inconsistent project delivery.

This means that for many Welsh firms, the biggest productivity gains may come not from a breakthrough invention but from better use of everyday technology. And yet such changes have not been the focus of the activities of Business Wales which is allegedly there to support Welsh businesses.

The export data tells a similar story and in 2024, 28.3% of broader innovators exported, compared with only 9.2% of non-broader innovators. Among SMEs, 27.6% of broader innovators exported, compared with 8.9 per cent of non-broader innovators. Innovation and exporting are therefore closely connected and firms that innovate are more likely to sell beyond their immediate markets, and firms that export are often pushed to become more competitive.

For Wales, this is crucial as a small economy cannot build prosperity by selling mainly to itself and needs more firms competing in wider markets but that requires stronger products, better systems, improved quality, sharper branding, more efficient processes and greater confidence.

Therefore, latest UK Innovation Survey should be seen as more than a statistical report, but as a warning that Wales has a productivity problem, and it is getting worse

Six years ago, Wales was close to the UK average, but it is now clearly behind and has not only fallen faster than the UK, but it is behind every UK nation and every English region. It has fewer innovation-active firms at a time when technology adoption, new products, better processes and stronger exports should be at the heart of economic renewal.

There is no easy route from a low-innovation economy to a high-productivity one, but if Wales wants higher wages, stronger firms and a more resilient economy, these findings cannot be ignored. Innovation cannot remain a specialist policy interest or a slogan attached to political manifestos, but must become central to how Wales thinks about business growth, productivity and the future of the economy

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More than 17,000 coffee makers were recalled over a burn hazard that can cause serious injury, according to federal regulators.

About 17,600 Kidisle-branded hot and iced coffee machines were affected by the recall, according to the U.S. Consumer Product Safety Commission.

“The recalled coffeemakers(sic) can become clogged, causing hot liquid or steam to build up and be released unexpectedly during use, posing a risk of serious injury from burn hazard,” the commission said on Thursday.

FORD ISSUES RECALL FOR MORE THAN 548,000 VEHICLES OVER ISSUE WITH CENTER CONSOLE

At least 107 reports have been made regarding the coffee makers releasing hot liquid or steam unexpectedly, causing at least 27 reported injuries, including first and second-degree burns that required medical treatment.

The item is designed in black, white and gray colors, measures about 11 inches high and 6 inches wide and has a 50-ounce detachable water tank. It can brew six to 14 ounces of cupped or ground coffee.

The coffee makers were sold online at Amazon, Walmart and eBay from June 2024 through April of this year for about $49.

The machines affected by the recall have model “KC101B” printed on a sticker on the underside while the brand name is listed on the product order receipt.

KIA RECALLS 6K VEHICLES DUE TO POSSIBLE SEAT BELT DEFECT THAT COULD RAISE INJURY RISK

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Consumers are urged to stop using the coffee makers immediately and contact Kidisle for a full refund.

Shares of Motilal Oswal Financial Services surged over 5% in Friday’s trade, rising to Rs 873 on the NSE after global brokerage UBS initiated coverage on the stock with a ‘Buy’ rating. The brokerage assigned a sum-of-the-parts (SOTP)-based target price of Rs 1,150, implying an upside potential of nearly 32% from the current market price.

According to UBS, Motilal Oswal is well-positioned to benefit from India’s ongoing financialisation trend, thanks to its diversified presence across wealth management, asset management, and capital markets. The brokerage highlighted the company’s increasing exposure to fast-growing assets-under-management (AUM) pools, particularly in wealth and asset management businesses.

UBS expects the Indian mutual fund industry to deliver an 18% CAGR in AUM by FY30, while high-net-worth individual (HNI) wealth and alternative assets could grow at more than 20% CAGR, creating a strong growth runway for the company.

Shift to AUM-Led model seen as key growth driver

The brokerage noted that Motilal Oswal is transitioning from a transaction-driven business model to an AUM-led, annuity-style platform, where earnings are increasingly linked to client assets rather than market trading volumes.

UBS expects Motilal Oswal to deliver strong growth over the next few years, forecasting its assets under management (AUM) to expand at a compound annual growth rate (CAGR) of 21% between FY26 and FY29. The brokerage also projects revenue to grow at a 19% CAGR during the period, while earnings are expected to outpace revenue growth with a 22% CAGR, supported by the company’s increasing focus on recurring, asset-based income streams.

The brokerage believes the market is yet to fully appreciate this transformation toward higher-quality, recurring fee income streams, which could reduce earnings volatility associated with the broking business.

Attractive Valuation Despite Strong Growth Outlook

UBS values Motilal Oswal using an SOTP methodology and assigns a valuation equivalent to 19x FY27 estimated earnings. The brokerage argues that historical valuation multiples may no longer be the best benchmark given the company’s evolving business mix and rising contribution from fee-based income.

Also read: 4 key factors powering today’s market rally
The valuation incorporates premium multiples for asset-light businesses such as asset management and wealth management, while assigning relatively conservative multiples to the capital markets segment.With robust industry tailwinds, accelerating AUM growth, and a business model shift toward recurring revenues, UBS sees Motilal Oswal emerging as a key beneficiary of India’s long-term wealth creation and financialisation story.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Top finance voices gathered at Bloomberg to discuss key issues, including China’s regulatory crackdown and associated risks. They explored the implications for global markets, investment strategies, and the economic outlook, highlighting challenges and opportunities amidst regulatory changes and geopolitical uncertainties impacting the financial landscape.

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Bloomberg Invest Hong Kong showcased the city’s vibrant financial ecosystem, attracting global investors and industry leaders. The event highlighted Hong Kong’s strategic position as a gateway between China and the world, emphasizing its robust capital markets and innovative financial services. Keynote speakers discussed the city’s resilience amid economic uncertainties and its role as a hub for fintech and sustainable investing.

Participants explored opportunities in emerging sectors such as green finance, technology, and digital assets. The conference emphasized Hong Kong’s commitment to fostering innovation through government initiatives and collaborations with international firms. Networking sessions facilitated connections between local startups, multinational corporations, and institutional investors.

Overall, Bloomberg Invest Hong Kong reinforced the city’s status as a premier financial center. With a focus on sustainability, technology, and international partnerships, the event underscored Hong Kong’s potential to continue leading in global finance and investment opportunities.

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The four companies that spun out from Vedanta’s mega demerger are set to list on stock exchanges on Monday (June 15). For investors who have missed out on the mega restructuring, analysts commented on which stock may provide better returns once they debut on stock markets.

The Anil Agarwal-led conglomerate in April had announced that each of its eligible shareholders will get one share of Vedanta Aluminium Metal (VAML), one share of Talwandi Sabo Power (now renamed to Vedanta Power), one share of Malco Energy (now renamed to Vedanta Oil and Gas) and one share of Vedanta Iron and Steel, for every share held in Vedanta, marking one of the biggest corporate restructuring in India’s metals and mining space.

Vedanta had set May 1 as the record date for the much-awaited demerger. While the eligible shareholders can continue trading Vedanta stock, the value attributable to these new entities is currently in price-discovery limbo—from the record date until their listings—since investors cannot trade them yet, even as Vedanta’s share price has already adjusted lower post-demerger.

According to exchange notices, Vedanta Oil & Gas, Vedanta Power, Vedanta Aluminium Metal and Vedanta Iron & Steel make their much-awaited market debut on Monday and will be initially placed in the Trade-to-Trade (T2T) segment, where every transaction results in compulsory delivery.

While eligible investors will be awarded with the shares of the four new companies automatically once they list, analysts suggested what investors, who missed the record date and are planning to buy some of the new stocks once they list, should do.

Also read: At what price will each of the four new Vedanta companies list? Check cost of acquisition

Which stock should you buy?

Sunny Agrawal, Head of Fundamental Research at SBI Securities, said an investor can look to buy the shares of Vedanta Aluminium Metal on the back of robust capacity expansion of aluminium and strong LME Aluminium prices.
He said that the fair value of Vedanta Aluminium Metal stands at Rs 489 apiece, while that of Vedanta Power stands at Rs 44 per share. Vedanta Oil & Gas commands a fair value of Rs 42 per share, while the same of Vedanta Iron & Steel stands at Rs 19 per share, according to the analyst.“Notably, among the demerged businesses, Vedanta Aluminium stands out as the most attractive entity, with an expected listing valuation of Rs 400+ per share. This is supported by its strong contribution to group revenues and margins, along with favourable industry dynamics such as tight global supply, elevated aluminium prices, and ongoing capacity expansions driving volume growth,” said ICICI Direct in a report.

Also read: How will Vedanta demerger impact dividend payouts for shareholders?

Nuvama in its report had said that Vedanta and Vedanta Aluminium will likely remain large-cap, while those of Vedanta Power, Vedanta Oil & Gas and Vedanta Steel & Iron ore will list at small-cap stocks. It had highlighted that mutual fund flows will likely be skewed towards the two large caps, while the small cap demerger entities will see limited participation.

ICRA recently removed the long-term rating of Vedanta Aluminium Limited (VAML) from watch with developing implications, following greater clarity on the allocation of assets and liabilities under the ongoing demerger scheme of Vedanta Limited as well as the support framework across group entities. ICRA has also upgraded the rating and assigned a Stable outlook to the long-term rating.

“The rating action factors in ICRA’s expectation that VAML’s financial profile will strengthen further in FY2027, following the strong improvement seen in FY2026 owing to a sharp increase in aluminium prices globally. On the London Metal Exchange (LME), aluminum prices remained firm during FY2026 with an average of $2,771/tonne, around 10% higher compared to the previous fiscal. The prices have continued to be elevated in the current fiscal so far and are expected to remain firm in the near term, given the global supply-side constraints and the ongoing geopolitical situation. The elevated prices are expected to support VAML’s credit profile,” the ratings agency further said, while highlighting steady cost structure, solid sales expectations and strong business profile.

Vedanta Aluminium currently has an installed capacity of around 2.4 million tonnes per annum and is targeting 3 million tonnes per annum by FY28, with an additional 3 MTPA greenfield expansion under evaluation. The company operates the world’s largest single-location aluminium smelter and exports products to nearly 70 countries.

For Vedanta Power, Emkay estimates a share price of around Rs 51.7 per share. Kotak Institutional Equities see the stock at Rs 60 per share, while Nuvama’s valuation implies a value of around Rs 47 per share. CLSA’s estimate corresponds to roughly Rs 35 per share.

Also read: Analysts expect 7-8% returns for retail investors from Wipro’s Rs 15,000 crore buyback. Here’s how

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)