Business
PIMCO Corporate & Income Opportunity stock hits 52-week low at $11.13
Business
French appointed MD at ASX-focused Manda
Manda Resources has a new managing director and new projects, as it moves towards a potential ASX listing later this year.
Business
Fed’s Collins says she supported rate hike, warns of elevated inflation risks

Fed’s Collins says she supported rate hike, warns of elevated inflation risks
Business
Eli Lilly CEO David Ricks discusses GLP-1s and Medicare coverage

Eli Lilly CEO Dave Ricks told CNBC on Monday that 700,000 new seniors have started GLP-1 treatments since Medicare coverage of obesity drugs launched in July, and 70% of those patients are on Lilly medicines.
In an exclusive interview with CNBC, Ricks called the rollout of coverage “very encouraging” so far, saying its expansion of the broader GLP-1 market “is what we had hoped.” His comments offer the latest metrics on how much the coverage is expanding access to the medicines, and who appears to be gaining more momentum among new patients between Lilly and its chief rival, Novo.
The coverage is through a temporary program called “Bridge,” which allows eligible beneficiaries to obtain weight loss drugs for a $50 monthly co-pay. The federal Medicare program is for people age 65 and older or with disabilities and covers about 66 million people.
Eli Lilly CEO Dave Ricks speaks during a press conference in Houston, Sept. 23, 2025.
Antranik Tavitian | Reuters
Lilly’s blockbuster obesity injection Zepbound appears to be the biggest winner of Medicare coverage so far. Through the program, seniors can get access to Zepbound along with Lilly’s newly launched obesity pill, Foundayo, Novo’s competing Wegovy pill and blockbuster injection under the same name.
“We’re capturing about seven out of 10 of those new patients, and a lot are still on Zepbound,” he said. “I think we still see physicians focusing on those with the most body weight and the most complications. That’s where Zepbound plays a big role.”
Lilly’s Foundayo plays a larger role for patients who are looking for a convenient treatment option and “maybe just need to lose 25 to 30 pounds,” Ricks added. That pill launched in April a few months behind Novo’s, but Ricks told CNBC that one-third of new patients on oral GLP-1s are taking Foundayo.
He said he hasn’t heard of many logistical issues with the rollout, saying the Centers for Medicare and Medicaid Services “did a nice job rolling this out,” educating physicians and working with both companies and the insurance system.
Business
SoFi Stock: Mastercard Partnership Turns Consumer Cards Into Stablecoin Proving Ground
SoFi Technologies (SOFI) and Mastercard on Tuesday said their stablecoin partnership is fully operational and handling real transactions. SoFi stock climbed on the news. Under the partnership, SoFi’s debit and credit card program with more than $25 billion in annualized volume has shifted to Mastercard’s payment network using its bank-issued stablecoin. The companies announced the partnership in March. With the…
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Business
Lennar: Below Book Value Is Getting Hard To Ignore (NYSE:LEN)
A financial researcher and avid investor with a keen eye for innovation and disruption, as well as growth buy-outs and value stocks. Keeping an eye on the pace of high tech and early growth companies, I write about current events and the biggest news surrounding the industry, and strive to provide readers with ample research and investment opportunities.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Short position through short-selling of the stock, or purchase of put options or similar derivatives in LEN over 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.
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
Waaree Energies shares gain 2% after company bags 2 GW solar module order
According to the company’s exchange filing, the order is a one-time contract, with the supply of solar modules scheduled across FY27 and FY28. The company did not disclose the commercial value of the order.
The order has been awarded by a domestic entity and involves the supply of 2 GW of solar modules. Waaree Energies said that neither its promoter group nor group companies have any interest in the entity awarding the order.
The company also clarified that the order does not fall under related-party transactions.
The latest order adds to Waaree Energies’ order visibility as demand for solar modules and renewable energy infrastructure continues to grow in India.
Waaree Energies Share Price, Valuation and Technical Indicators
Share price performance: Waaree Energies shares have remained subdued in recent weeks. The stock has declined around 6% over the past month and is down nearly 26% over the last one year. The company currently has a market capitalisation of around Rs 72,747 crore, while its 52-week high stands at Rs 3,718.80.
On the valuation front, Waaree Energies has a price-to-earnings (P/E) ratio of 19.3, while its price-to-sales (P/S) ratio stands at 3.37 and price-to-book (P/B) ratio at 4.91.From a technical perspective, Waaree Energies shares are currently trading below seven out of eight Simple Moving Averages (SMAs), indicating weakness across several key moving-average levels.
In the June 2026 quarter, Foreign Institutional Investors (FIIs) increased their stake in the company from 7.06% to 8.57%, while mutual fund holdings declined marginally from 2.98% to 2.81% during the same period.
Disclaimer: The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
Business
McDonald’s (MCD) hosts investor day
McDonald’s Chris Kempczinski speaks about fresh beef expansion at a McDonald’s event in Oak Brook, Illinois.
Richa Naidu | Reuters
McDonald’s is expected to share more details about its new strategy to win back diners at its investor day on Wednesday in Chicago.
The company unveiled its new global growth plan, called McDonald’s > NEXT, in June at its biennial worldwide convention for franchisees. Pillars of the strategy include a new restaurant design, better-tasting food and drinks and consumer-led innovation. But executives have otherwise offered few details, holding back until Wednesday’s event.
Nearly three years after McDonald’s previous investor day, the presentation comes after McDonald’s U.S. business disappointed in its most recent quarter. The chain’s same-store sales increased just 0.8%, and traffic to its restaurants fell.
CEO Chris Kempczinski said that the problems were due to shortcomings in execution, like a mixed implementation of its value offerings, rather than issues with the chain’s overall strategy. Skye Anderson, who was tapped as president of McDonald’s U.S. business in the wake of the weak quarter, will likely speak on Wednesday.
Kempczinski, Anderson and the rest of the McDonald’s executive team will have to win over investors, who are increasingly skeptical that the fast-food giant can win over diners in the near term.
Over the past 12 months, the stock has fallen 18%, dragging McDonald’s market value down to about $175 billion. The S&P 500 has climbed 16% in the same period, as optimism about artificial intelligence has offset concerns about the financial health of consumers.
Here’s what McDonald’s presentation is expected to cover:
1) Value strategy
Over the past two years, value has become all-important to restaurants, which are competing over a smaller pool of customers who care about both price and experience. While chains like Taco Bell and Chili’s have thrived, McDonald’s has struggled recently as its value offerings got lost among its other promotional messages.
Plus, its franchisees have pushed back against discounts, which grow sales but eat into operators’ profits, especially as high beef prices raise expenses. Only about two-thirds of McDonald’s U.S. franchisees implemented its recent “under $3 menu,” executives said in August. For its part, McDonald’s lets franchisees set their own prices, but the company assesses how operators’ menu prices help deliver value.
Analysts expect that McDonald’s will continue to emphasize value, and franchisees’ cooperation will be key to its success.
“We expect MCD to use this event to make it clear to franchisees that adherence to pricing recommendations will be a key factor in evaluating agreement renewals,” Citi Research analyst Jon Tower wrote in a note to clients with his investor day predictions.
Tower also cut his price target for the company to $310 per share from $345 a share, citing investor concerns about franchisees’ buy-in for the company’s overall strategy.
2) Menu updates
A McDonald’s in LaBelle, Florida, Feb. 7, 2026.
Bloomberg | Bloomberg | Getty Images
Besides value, McDonald’s is also looking to attract diners through menu offerings with elevated taste and quality.
In recent years, McDonald’s has shifted its menu to include more chicken options, as beef prices have risen and rivals like Chick-fil-A threaten its sales. At the franchisee convention, executives shared that the next evolution of its chicken offerings will be hand-breaded. Chick-fil-A, Raising Cane’s and Popeyes all hand bread or batter their chicken rather than using a machine. The technique usually results in a crispier exterior, but it takes more time and labor.
In addition to chicken, McDonald’s has also leaned into expanded beverage options recently. After winding down CosMc’s, its drink-focused spinoff, McDonald’s has rolled out a variety of beverage options in the U.S., including crafted sodas, refreshers and energy drinks. A handful of international markets, like Germany, have also been rolling out more drink offerings.
“What’s important — we’ll talk a lot more about this at investor day — is beverages,” Chief Financial Officer Ian Borden said on the company’s earnings conference call in August.
3) Restaurant remodels
Roughly every decade, McDonald’s mandates that franchisees remodel their restaurants to fit new aesthetic guidelines and improve their technology and equipment.
And it looks like another round of restaurant renovations is coming as part of the growth strategy. At the convention, franchisees got the first look at the new restaurant design.
Typically, McDonald’s chips in some support for franchisees who are remodeling their restaurants. While upgraded locations usually generate higher sales, operators have to fund the remodels at a time when borrowing costs are elevated. And thanks to tariffs and high energy prices, construction costs are increasing, too.
As a result of the remodel program, McDonald’s capital expenditures could increase by $600 million to $900 million in 2027 and 2028 from its projected spending in 2026, according to a research note from BMO Capital Markets analyst Andrew Strelzik. But executives are expected to share the company’s own projected costs for the remodel program at investor day.
4) Cost cuts
While McDonald’s will likely spend more on capital expenditures over the next two years, the company will likely try to cut costs elsewhere.
McDonald’s will share its outlook for general and administrative spending during investor day, Borden said in August.
McDonald’s could target G&A spending to be less than 2% of its systemwide sales, down from its current goal of 2.2%, Bernstein analyst Danilo Gargiulo wrote in a note to clients. In recent years, the company’s workforce has shrunk as part of a reorganization effort.
Indirectly, McDonald’s will also cut costs by refranchising some of its company-owned restaurants.
Selling locations to franchisees means that McDonald’s will not be responsible for the operational costs or capital expenditures required to run a restaurant successfully. The company will also share more details about those plans at the investor day, according to Borden.
Business
DoorDash customer goes viral after picking up order at driver’s crash scene
A Maryland man went viral after filming himself retrieving his DoorDash order from the scene of a crash that totaled the delivery driver’s car. (Credit: @thegaragegrind via Storyful)
A man went viral on social media after filming himself picking up a DoorDash order at the scene of a crash involving his delivery driver.
Glenn Ndibnu began recording as he arrived at the wreck on Church Road in Bowie, Maryland, where multiple ambulances were present.
“I DoorDashed some food, and my DoorDasher told me he got in a car accident, and he was like, ‘I can come meet him and get the food from him,’” he explained in the video.

Glenn Ndibnu records himself driving to where his DoorDasher got into an accident. (@thegaragegrind via Storyful / Storyful)
He then expressed guilt over crossing the road to go pick up his food after what happened to his driver.
“I think that’s my food right there. Is it f—ed up for me to walk across and pick it up?” Ndibnu said. “I look so f—ed up right now about to go get this food.”
Ndibnu ultimately got his food and apologized to the driver, William Koroma, who later launched a GoFundMe campaign to help replace the car that was totaled in the crash.

Glenn Ndibnu walks up to William Koroma, the DoorDash driver who crashed. Koroma tells Ndibnu he can pick up his food from the sidewalk. (@thegaragegrind via Storyful / Storyful)
DOORDASH GETS FAA APPROVAL FOR ITS OWN DELIVERY DRONES
In subsequent posts on Instagram, Ndibnu linked to the online fundraiser.
“My vehicle experienced brake failure, and I was involved in a major accident,” Koroma wrote on the GoFundMe page. “My car was totaled, and I am deeply grateful that I survived and that no one else was seriously injured.”
He added: “Since the accident, I have been facing several challenges at once. Losing my vehicle has left me without reliable transportation, and I have also lost my job.”

A picture of the totaled car from William Koroma’s GoFundMe page. (GoFundMe / Unknown)
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Koroma did not elaborate on his injuries, but said he has also been hit with medical bills.
The GoFundMe has raised nearly $14,000 as of Tuesday morning.
Business
Wonderful AI London office opens with plans to hire hundreds
Wonderful AI, a Dutch-Israeli start-up that helps companies adopt artificial intelligence, has opened an office in London and plans to recruit “hundreds” of people, as it targets businesses that have yet to show measurable returns from the technology.
The company’s new site is on St Martin’s Lane in Covent Garden. Wonderful did not set a timeline for the recruitment.
The 18-month-old business was valued at $5bn after raising $550m in a funding round announced on 2 September, backed by investors including Salesforce, Index Ventures and Insight Partners. It now employs more than 700 people across 35 countries.
Jason du Preez, Wonderful’s UK chief operating officer, said the funding gave the company the “muscle to invest materially in this market … we see a huge market opportunity in the UK”.
Targeting the gap on returns
Du Preez said many UK companies had moved quickly on AI but had yet to demonstrate what it had delivered.
“Many companies here in the UK actually have very active AI agendas and were very early to adopt some of the tools but are yet to show tangible, coherent stories on ROI [return on investment],” he said.
Research published by Accenture in April found that only one in ten UK organisations had successfully scaled AI or embedded it into core operations. Matt Prebble, chief executive of Accenture UK and Ireland, has since said that nine in ten companies are still waiting for AI to pay off.
Adoption itself has risen. According to the Office for National Statistics, the proportion of UK businesses with 10 or more employees using at least one AI technology rose from around 12 per cent to around 35 per cent between late 2023 and 2026. A separate PwC study found that UK businesses were falling behind on AI investment and returns compared with global leaders.
How the model works
Wonderful places its engineers directly inside client businesses, where they help design custom AI software on top of the company’s own platform. That platform sits between businesses and the underlying AI models.
The platform is model agnostic, meaning it can route queries to a range of different AI models. “We work with all the frontier companies and we enable our customers to choose which models are used for specific purposes,” du Preez said.
Wonderful’s router decides which model is best suited to a given task, taking into account factors such as data sensitivity and cost.
The company also trains clients to build and expand their technology systems independently, and allows all customers to export any intellectual property built on the platform, which it says protects against vendor lock-in.
“We’re not trying to create some sort of long-term dependency on Wonderful,” du Preez said. “I think that provides strong support for the sovereignty story, in that we’re giving customers choice and no lock-ins.”
Regulated sectors in focus
Du Preez said Wonderful was “agnostic to sector”, but added that he was “very excited about the regulated industries”, including insurance, banking and telecoms, as well as life sciences and healthcare.
The opening adds to a run of AI companies expanding in the capital. OpenAI earlier this year leased its first permanent London office in King’s Cross, with capacity for 544 staff.
Business
I product studio: &above founder Jordan Richards
Jordan Richards joined Google as an apprentice at 18 and became a design lead before founding &above, a London AI product design and build studio whose clients include Google, Tesco and Revolut. The studio says the Gemini Sales Sidekick agent it built for Google Cloud has 5,000 monthly active users and saves sellers 64 per cent of the time the work took manually. Based in Borough, &above says it is a certified Anthropic and Google Cloud partner. He tells Business Matters why having AI is only the starting point and why there are no failures, only learnings.
What do you currently do at &above?
I am the founder and CEO of &above, an AI product design and build studio.
We help businesses take AI from experimentation into something that actually works in the real world. That might mean designing and building an AI workflow, developing an AI-powered product, or helping a business work out where AI can genuinely create value.
My role is a combination of building the business, working with clients and helping shape what we build. I am very close to the creative and product side of the work.
I started my career at Google as an apprentice at 18 and went on to become a design lead. That experience had a huge influence on how I think about technology. Working with a company operating at that scale taught me a lot about craft, systems and the importance of solving the right problem.
Today, I am interested in applying those lessons to a very different technology moment. AI has created an enormous amount of opportunity, but also an enormous amount of experimentation. Businesses have access to incredibly powerful models, but having the technology is only the starting point. The interesting question is what you build around it and how it changes the way a business actually operates.
That is where I think &above has a role to play.
What was the inspiration behind your business?
I have always been a builder, and creativity and entrepreneurship have always been intertwined for me. My time at Google showed me what was possible when technology, creativity and really talented people come together. But it also made me realise that there was an opportunity to work differently.
When I started my own businesses, I wanted to create environments where people could move quickly, experiment and build things without having to navigate huge amounts of bureaucracy. That thinking eventually led to &above.
The arrival of AI made the opportunity even more interesting. We suddenly had technology that could fundamentally change how products and businesses are built, but there was a big gap between having access to an AI model and actually putting it to work. I did not want to build another business that simply talked about AI; I wanted us to be the people who actually build with it.
For me that is still the exciting part: taking something that feels quite abstract and turning it into something useful.
Who do you admire?
Someone I admire a lot is Toto Wolff, partly because of my passion for motorsport but mostly because of what he has built at Mercedes. What interests me is not just winning; it is the ability to build a high-performing team and create an environment where people continually push themselves to improve. I admire that relentless pursuit of excellence. Even when you are not leading, you do not stop pushing. You look at what is not working, learn from it and keep moving forward.
There are a lot of parallels between elite sport and entrepreneurship. At the highest level, performance is not just about talent or working harder. It is about building the right team, being disciplined, looking after your mind and body, recovering properly and being able to perform consistently over a long period of time.
Entrepreneurship can be relentless, and you cannot expect yourself or your team to perform at your best indefinitely without investing in the people behind the performance.
For me, high performance is not about constantly being at 100 per cent. It is about creating the conditions that allow you to reach 100 per cent when it matters, and having the resilience to keep going when things do not go your way.
Looking back, is there anything you would have done differently?
There are obviously things I would change, but I try not to think about them as failures. One of the phrases I have always lived by is: “There are no failures, only learnings.” The hardest periods have often taught me the most. What has changed as we have grown is how deliberately we capture those learnings.
We now run what we call “washups” when something has not gone as well as we wanted it to. We take the time to understand what happened, where we could have turned it around, what we missed and what we can do differently next time.
That is much more useful than looking at an outcome and simply saying it did not work.
If anything, I would have developed that mindset earlier: being less concerned about getting everything right first time and more focused on creating a culture where we can identify what is not working, learn quickly and improve.
I have also learned that building a business is a long game. In technology especially, it is tempting to put speed above everything else. Speed matters, but quality matters too. A decision that saves you a week today but creates a problem for the business two years from now is not necessarily a fast decision. It is just a decision that moved the problem somewhere else. I have become much more interested in building things that can last and scale, and a team that gets better every time we do something.
What defines your way of doing business?
Curiosity, creativity and a willingness to get stuck in.
A big part of my apprenticeship at Google was learning on the job. I had to get involved, ask questions, make mistakes, learn quickly and figure things out as I went.
Some of the best learning happens when you get stuck in and work things out in practice. That does not mean rushing. One of the things I have learned is that moving quickly and thinking carefully are not opposites.
I like getting close to a problem, understanding it properly, making something, putting it in front of people and learning from what happens. That mindset is particularly important in AI because the technology is changing so quickly. You cannot build a five-year plan around assumptions that might be obsolete in six months.
I also care a lot about the people I work with. The best businesses I have been involved in have been built by people with different skills and perspectives working together. Design, technology, strategy and commercial thinking should not exist in separate silos.
And I believe strongly in ownership. If we build something for a client, I want it to become a useful part of their business. A successful project is not just something that looks good in a presentation. It is something that people actually use and that creates a meaningful outcome.
What advice would you give to someone starting out?
Start building. You do not need to have everything figured out before you begin; in fact, you probably never will. When I look back to being 13 and selling phone case designs, I had no business plan and knew nothing about entrepreneurship. I just saw something I could create and wondered if someone would pay for it. That instinct is still useful. Find something you care about, find a real problem and start experimenting.
Learn how things work rather than depending on other people to make everything for you. You do not have to become an expert in every discipline, but understanding how technology, design, marketing and business fit together gives you a huge advantage.
Look after yourself, too. Entrepreneurship can easily become all-consuming. I have learned to think about myself like an athlete: you need periods of intense performance, but you also need training, recovery and time away from the game. You do not need to be working every hour to be ambitious.
Finally, stay curious. The people who will create the most interesting businesses in the age of AI will not necessarily be the ones who know everything today. They will be the ones who are willing to keep learning, keep experimenting and keep building. That is certainly the approach I am trying to take with &above.
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