Business
Apollo Micro Systems shares rise over 1% as company nears Premier Explosives deal
A board meeting of Premier Explosives is scheduled for today.
Both Apollo Micro Systems and Premier Explosives are headquartered in Hyderabad. The proposed deal, if completed, would bring together two defence-focused companies at a time when India’s defence spending and exports are rising sharply.
Apollo Micro Systems makes defence equipment linked to India’s indigenisation and modernisation programmes. Its products include naval defence mines and components used in missile systems.
Premier Explosives makes explosives for defence and industrial use. Its products include TNT and propellants used in missiles. The company’s promoters own around a 40% stake. Their stake was recently transferred to a trust, as it was earlier held by promoters in their individual capacities.
Also Read: TCS shares dip 2% ahead of Q1 earnings today. What can shareholders expect?
Apollo Micro Systems announced a Rs 3,200 crore fundraise earlier this week through the issue of shares and warrants to promoter and non-promoter entities. Several foreign portfolio investors, high net-worth individuals and funds are expected to participate in the funding.The proposed acquisition comes as private defence companies are drawing strong investor interest. India’s defence expenditure for 2026-27 is estimated at Rs 7.5 lakh crore, according to government data, about three times the level seen a decade ago. Defence exports have also crossed Rs 35,000 crore.
This has opened up opportunities for private companies in areas such as ammunition, explosives, missile components, electronics, drones, naval systems and aerospace manufacturing.
Several large private-sector groups have also stepped up their defence plans. Adani Defence and Aerospace has announced investments in the sector and recently inaugurated a project in Madhya Pradesh to manufacture TNT and propellants. Tata Group companies are also working through joint ventures with global defence majors such as Lockheed Martin and Boeing.
For Apollo Micro Systems, buying Premier Explosives would expand its presence from defence electronics and systems into explosives and propellants, giving it a wider role in the defence manufacturing chain.
The deal would also come at a time when the government is pushing domestic manufacturing in defence and seeking to reduce import dependence. Companies with approved products, manufacturing capacity and defence order pipelines are likely to remain in focus as spending rises.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times.)
Business
Welfare cuts: What’s been happening with Pip and universal credit?
In March 2025, the government announced plans to tighten daily living assessments for both current and future Pip claimants.
However, after more than 120 Labour MPs threatened to vote against the legislation, the government said those already receiving Pip would not be affected.
The original proposals said that people with the highest levels of a permanent condition or disability would no longer have to be reassessed at all.
The assessments involve questions about everyday tasks, with each scored from zero, for no difficulty, to 12, for most difficulty.
For example, needing help to wash your hair, or your body below the waist scores two points, but needing help to wash between the shoulders and waist is worth four points.
The government said originally that anyone claiming Pip for the first time after November 2026 would have to score at least four points for a single activity, rather than across a range of different ones.
However, this change was delayed until the wider Timms review of Pip. The final report – which will include recommendations – is due in the autumn.
The cost of Pip is forecast to rise to more than £41bn by 2030. The cuts originally proposed by the government aimed to save about £5.5bn a year by the end of the decade.
However, the Institute for Fiscal Studies (IFS) and Resolution Foundation said the concessions made by the government meant it would make no “net savings” by 2029-30.
Business
2 Popular REITs Down 50%, 1 Strong Buy, And 1 Yield Trap
Jussi Askola is the President of Leonberg Capital, a value-oriented investment boutique that consults hedge funds, family offices, and private equity firms on REIT investing. He has authored award-winning academic papers on REIT investing, has passed all three CFA exams, and has built relationships with many top REIT executives.
He is the leader of the investing group High Yield Landlord, where he shares his real-money REIT portfolio and transactions in real-time. Features of the group include: three portfolios (core, retirement, international), buy/sell alerts, and a chat room with direct access to Jussi and his team of analysts to ask questions. Learn more.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of REXR, FR either through stock ownership, options, or other derivatives. 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.
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
Taiwan’s Trade Surplus Falls Short Of Lofty Expectations In June
holgs/E+ via Getty Images

By Lynn Song, Chief Economist, Greater China
Taiwan’s export growth moderated in June
Taiwan’s export growth slowed to 40.3% year-on-year in June, down from 51.7% YoY in May. This came in weaker than forecasts (market: 49.9%, ING: 46.9%), though this level obviously still represents
Business
Baird reiterates Costco stock Outperform on strong June sales

Baird reiterates Costco stock Outperform on strong June sales
Business
Review: Willow Bridge delivers the classics
REVIEW: Those who take the Ferguson Valley turnoff on a trip south won’t be disappointed when they visit Willow Bridge Estate.
Business
THD: The Shining Star Of The ASEAN ETF Pack Faces A Tricky Outlook
THD: The Shining Star Of The ASEAN ETF Pack Faces A Tricky Outlook
Business
How can you get air conditioning in your home and how much does it cost?
Costs range widely depending on what is wanted and/or required.
Portable units are the cheapest form of air con, ranging from £350 to £650 on average, depending on the brand and performance, according to Checkatrade., external
However, as demand has soared in recent weeks some retailers began selling the cooling machines for £149, as Lidl did in its infamous middle aisles.
Wall mounted or split air con units can cost between £750 and £1,100 each, Checkatrade says – but that is just the unit, and does not include the labour and other installation costs, such as hooking it up to the property’s electricity fuse board. Installation company Heatable suggests, external a full cost is typically £2,000 to £3,500, but can go up to £6,000 if you want to have it in more than one room.
Ducted air con systems cost the most, between £990 and £1,750 without installation costs, according to Checkatrade. Fitting the ducting or remedial work to hide it inside properties means it is likely to be more expensive than any of the other systems given the level of work involved. Heatable estimates it to be between £5,000 and £10,000, depending on the property size, layout and how complex the ductwork needs to be.
The size of both split and ducted units are determined by what is known as the BTU (British Thermal Unit), Checkatrade says, to ensure it will cool the space it’s required to. The larger the BTU number, the bigger the room to cool, and therefore the more expensive the unit.
Following installation, consumer group Which? suggests the running costs “vary wildly” and depend on the type of system.
“A typical portable air conditioner adds roughly 25p to 40p an hour to your electricity bill,” it says.
Business
Why is Stellantis stock sliding today?

Why is Stellantis stock sliding today?
Business
Wolfe Research downgrades Ryan Specialty stock rating on valuation

Wolfe Research downgrades Ryan Specialty stock rating on valuation
Business
How Lenovo is impacting FIFA World Cup through AI-powered solutions
Owner of MC Hotel and CEO of Circle Squared Alternative Investments Jeff Sica details how his New Jersey hotel became a prime destination for FIFA World Cup teams on ‘The Claman Countdown.’
Colombia and Portugal were deadlocked at zero in one of the most thrilling 2026 FIFA World Cup matches when a cross from Colombia whipped into Portugal’s box.
Davinson Sánchez of Colombia read the pass perfectly the whole way to the far post and used his head to smash the ball into the back of Portugal’s net. The goal was in stoppage time, Colombia and its fan base were in rapture, and the game appeared to be won.
That is until the head referee of the match changed everything.
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Lenovo during the FIFA World Cup 2026 Group D match between USA and Paraguay at Los Angeles Stadium on June 12, 2026 in Los Angeles, California. (Joe Scarnici – FIFA / Getty Images)
Sánchez was ruled offside, and soccer fans around the globe couldn’t believe it. It appeared that Sánchez was right next to his Portugal opponent when the ball was kicked by his teammate, and there was no way the goal was being called off.
But during the FOX broadcast, the ruling made more sense to the viewer, whether they were upset or not, because a 3D avatar of Sánchez was shown offside – by the literal front of his boot.
It’s moments like these, and many more, that are showing how Lenovo, the official technology partner of FIFA, is making an impact on the fan experience, both at home and in the 16 different stadiums across three countries, throughout this tournament with its AI-powered solutions.
LENOVO’S AI-POWERED 3D AVATARS, REFEREE VIEW AND MORE ARE SET TO TRANSFORM THE 2026 FIFA WORLD CUP
“This is a sponsorship that goes well beyond just a logo,” Cathy Meister, Executive Director North American PC & Smart Device Sales at Lenovo, told Fox Business during a roundtable discussion about the impacts on the World Cup thus far. “Being the official technology sponsor, we are truly the end-to-end backbone of all the operations. Our technology, everything from mobile phones all the way to our storage and infrastructure, our AI-powered services, truly end-to-end, Lenovo is showcased in powering these games.”
The AI-powered 3D digital avatars are a perfect example of how Lenovo is helping improve not just the fan experience, but the game itself. Before the tournament began, each team had their players 3D reconstructed to replicate them precisely on the pitch to support FIFA’s match officials in their offside decision-making.

A 3D avatar of Colombia’s Davinson Sánchez shows that he was offside thanks to Lenovo AI technology. (Lenovo/FIFA / Fox News)
We’ve seen it on multiple occasions throughout matches in the World Cup, giving players, coaches, and fans in the stands and at home the visual of how a tool that helped a crucial call come to be on the pitch.
Then, in the locker rooms, meeting rooms and training pitches, every team has access to FIFA AI Pro, a groundbreaking AI-powered enterprise knowledge assistant that has been delivering data analytics and performance insights for countries participating throughout the tournament.
This specialized football interaction tool is “leveling the playing field,” as Meister put it, giving teams that may not have the most robust analytics teams within their squad access to millions of data points, metrics and rapid insights following each match. We’ve seen smaller clubs in terms of manpower, like Cape Verde, DR Congo and others, shock the football world against powerhouse clubs.
Could FIFA AI Pro have aided in that? Either way, that’s the vision for this World Cup and others moving forward.

Lenovo CEO Yang Yuanqing and FIFA President Gianni Infantino speak at event. (Lenovo/FIFA / Fox News)
From the Intelligent Command Center, the control room for the tournament, creating “digital twins” of each venue to allow predictive planning to optimize the event experience, “Smart Wayfinding,” which allows matchgoers to streamline their experiences at venues, and the referee cam, Lenovo knew it could take on these 104 FIFA World Cup matches and provide an improved experience from every aspect of this great game.
The partnership itself was one that Breanna Reader, Senior Communications Manager North America for Lenovo US, said came together with a dinner between top marketing officials within the technology powerhouse, where they dreamed big.
“Throwing ideas out and it was one of those stories where it was like, ‘What could we do?’ FIFA came up, and that’s how the idea started,” Reader said. “FIFA has such a high standard of excellence and precision. It was lengthy conversations and we had to prove the rigor of our technology and our expertise in that space. So, it’s best summed up as a true partnership. There were lots of conversations about how we could enhance the experience, what they needed from a technology partner. Just testing and talking about it as we went.
“FIFA, we all know the high degree of excellence and precision, and we needed to back it up. It shows we did.”
And Lenovo isn’t done yet.

Shot of Lenovo’s Technology Operations Center for FIFA in Miami. (Lenovo/FIFA / Fox News)
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There are still big matches to go, including the World Cup Final on July 19 at New York/New Jersey Stadium. But the company has already proven it can help bring players, coaches, fans and everyone surrounding the World Cup closer to the game than ever before through groundbreaking innovation.
Looking ahead, the Women’s World Cup in 2027 in Brazil will be yet another opportunity Lenovo will put its stamp on the game. And just as they have with their other sports partnerships, including F1, the Dallas Cowboys and Carolina Hurricanes, they will take learnings from this World Cup and imply it to their next challenge.
“We’ll carry on the technologies that we developed, and I’d imagine we’ll have learnings along the way and continue to innovate and continue to improve the fan experiences. The Women’s World Cup is contained to Brazil so – I don’t want to say easy – but after three countries and 16 different stadiums, I believe we’ll be ready,” Meister said.
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