Hindustan Zinc led the losses, with its shares declining around 5%, while Vedanta and National Aluminium Company (NALCO) fell nearly 4% each. Hindalco dropped 3%, while Tata Steel, Adani Enterprises, Jindal Stainless Steel, JSW Steel, NMDC, Welspun Corp and other metal stocks declined up to 2%.

Why are metal stocks falling today?

The sharp fall in metal stocks comes amid a decline in metal prices, following US Federal Reserve Chair Kevin Warsh’s speech signalling that further interest rate hikes may be needed. On Friday, Warsh said the US central bank would “have work to do” if policymakers do not gain the confidence needed to ensure inflation is heading towards the 2% target.

Markets ⁠currently see a 57% chance of a rate hike at the Fed’s next policy meeting in September, against 36% before Warsh’s comments, according to the CME FedWatch tool.

Aluminium, copper and other metals declined as expectations of higher-for-longer US interest rates outweighed supply concerns that had earlier supported a monthly rise in August.

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The sharp drop in metal stocks may also have been driven by profit booking. Nifty Metal index sharply surged more than 6% in August so far, outperforming major sectoral indices, amid supply concerns.
Also read | Hindustan Zinc vs Hindalco: Why Jefferies raised target prices for both, but prefers one over the other

Jefferies on metal stocks

In its latest note, Jefferies noted that the recent divergence in metal prices has favourable earnings implications for Hindustan Zinc while weighing on Hindalco. Spot zinc prices have risen 15% over their Q1 averages, while silver has recovered 23% from July lows. The international brokerage remains constructive on precious metals, believing that the implications of widening fiscal deficits, elevated debt levels, and ongoing currency debasement remain underappreciated. It raised silver price assumptions to $60-63, still 8-14% below spot, suggesting further potential upside to earnings if spot prices persist.

In comparison, aluminium prices are 10% below their June-quarter average, Jefferies noted. While supply disruptions in the Middle East led to a 4% YoY decline in global production in the first half of 2026, a 2% increase in Chinese output largely offset the decline, keeping global production broadly stable.

Supply availability could improve in the coming months if the disrupted Middle East capacity gradually returns, with Emirates Global Aluminium (EGA) targeting normal production by the first quarter of 2027 and Aluminium Bahrain (ALBA) indicating repairs are largely complete, Jefferies noted, as it raised its FY27-28 aluminium price assumptions to $3,300-3,325, still 3-4% above spot.

Jefferies remains bullish on Hindustan Zinc shares, raising its target price because it believes zinc and silver are shining brighter than aluminium. The international brokerage hiked its target price for Hindustan Zinc shares to Rs 750 apiece, while maintaining its ‘Buy’ call on the stock.

Jefferies also raised its target price for Hindalco Industries to Rs 1,140 apiece, but has a ‘Hold’ call on the stock. The international brokerage prefers Hindustan Zinc shares over those of Hindalco Industries.

Also read |Metal stocks: Time to contradict analyst expectations? 5 metal stocks with upside potential from a low 2% to a high of 17%

(With inputs from agencies)

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

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Kevin Durant revealed this week that he and LeBron James recorded roughly three rap songs together during a recording session in Akron, Ohio, more than a decade ago, adding a new layer to a friendship already well documented on the basketball court.

Durant made the revelation during an appearance on the “Boardroom Talks” podcast with host Speedy Morman, released Thursday. When Morman asked whether it was true that Durant and James had a song together, Durant corrected the premise entirely. “We had like three songs, I think,” Durant said. “Me and Rich Paul really were the ones that got it going and convinced Bron to rap.”

According to Durant, the recording sessions took place around 2011, when he traveled to James’ hometown of Akron to work out with him over a period of four to five days. “I went to Akron, like, 2011 to work out with him for, like, four or five days,” Durant said. “And then he had a studio, ’cause Rich Paul — me and Rich Paul really was the ones that got it going and convinced Bron to rap.” Durant explained that his relationship with Paul, James’ longtime agent and the founder of the sports agency Klutch Sports, predated his connection to James, noting that Paul had been courting him as a client around the same period.

Durant described James as initially hesitant to step into the recording booth, but said he ultimately embraced the experience once he found his footing. “Any time somebody does something for the first few times, it’s forced, a little forced,” Durant said. “Once you get that flow, he had to figure it out. He loved rap.”

One of the pair’s collaborations did eventually reach the public. The track “It Ain’t Easy,” recorded during the 2011 NBA lockout while James played for the Miami Heat and Durant led the Oklahoma City Thunder, featured both players rapping about their respective paths from difficult upbringings to NBA stardom. The song remained unreleased for years before producer Franky Wahoo put it out publicly in 2018, though Durant said the version that surfaced used a different beat than the original recording. “They changed the beat, and it just made the song even more wack,” Durant said, according to Heavy.com’s account of the podcast.

Durant said he does not personally have access to the two other tracks he and James recorded and is uncertain whether the original files still exist. “That’s a good question,” Durant said when asked where the songs are now. “They’re in that studio in Akron. Somebody out there, engineer somebody, got them.”

The revelation adds a lighter footnote to a notable year for James, who is entering a new chapter of his NBA career after signing with the Philadelphia 76ers this offseason following his departure from the Los Angeles Lakers. According to The Athletic’s Law Murray, James privately wrestled with a diminished offensive role during his final season in Los Angeles, particularly as the Lakers increasingly relied on guard Austin Reaves in the backcourt. “Covering LeBron James last season, he had an internal conflict going on with how much he had to defer to Austin Reaves,” Murray wrote during a recent Reddit AMA, according to Yahoo Sports. “Even Bron understood that Luka was the top dawg in any circumstance,” Murray added, referring to Luka Doncic, who had established himself as the Lakers’ clear top offensive option.

James is expected to face a different dynamic in Philadelphia, joining a roster already built around center Joel Embiid and guard Tyrese Maxey, a pairing analysts have suggested could offer James a more natural complementary role compared with the tension that reportedly built up during his final Lakers season. Whether that adjustment proves smoother than his last stretch in Los Angeles remains to be seen as James begins his 24th professional season, one that will also mark the first time since his rookie year that he has played for a franchise other than the Cleveland Cavaliers, Miami Heat or Lakers.

For now, Durant’s revelation about the unreleased Akron recording sessions has offered fans a rare, unexpected glimpse into the pair’s decades-long friendship away from the court, one that predates the accolades, championships and rivalries that have defined both players’ careers since their early years in the league.

Huawei has confirmed it will unveil its second-generation tri-fold smartphone, the Mate XT 2, at an event in China on Sept. 7, alongside the debut of its latest software platform, HarmonyOS 7, in what the company is billing as an “All-Scenario New Product Launch Event.”

The Chinese technology giant announced the launch on its official Weibo account, publishing a promotional teaser confirming the date and a 2:30 p.m. local start time, according to Huawei Central. The teaser image itself revealed little about the device’s design, featuring only abstract gradient artwork similar to imagery Huawei has used to promote HarmonyOS 7. Huawei executive Richard Yu has also confirmed the timing publicly and offered an early hands-on preview of the device ahead of its formal debut, according to tech outlet GSMGoTech.

While Huawei has not released official specifications, a video teaser distributed by the company has already confirmed one of the device’s most significant changes: a redesigned folding mechanism. According to GSMArena, the video shows the Mate XT 2 will adopt an inward-folding, U-shaped design, a departure from the exposed Z-shaped folding structure used in both the original Mate XT and its successor, the Mate XTs. Some outlets, including GSMGoTech, have described the new configuration as G-shaped, with both outer sections of the display folding inward over the phone’s central panel so the flexible screen remains fully enclosed and protected when the device is closed, unlike the first-generation model, which left portions of its display exposed even in its folded state.

The redesign notably mirrors an approach Samsung briefly used and then abandoned. According to technology outlet GaGadget, the Mate XT 2’s inward U-shaped fold closely resembles the hinge structure Samsung employed in its Galaxy Z TriFold, a device the South Korean company discontinued after roughly three months on the market. Whether Huawei’s version of the design proves more durable than Samsung’s short-lived attempt remains an open question heading into the September launch.

Beyond the folding mechanism, a range of additional specifications have circulated in pre-launch leaks and reports, though Huawei has not confirmed any of them. Multiple outlets, including Gizmochina and GSMArena, have reported that the Mate XT 2 could be powered by a Kirin 9050 Pro processor built around stronger on-device artificial intelligence capabilities, though some sources have instead pointed to a Kirin 9030S chip. Rumors also point to a battery capacity of roughly 6,000 mAh, an upgraded hinge intended to reduce the visible crease along the display, and a possible switch to ultra-thin flexible glass, or UFG, aimed at improving screen durability. The device’s rear camera system is rumored to closely resemble the setup found on the Mate X7, according to GSMArena, with some reports pointing to a redesigned, horizontally arranged triple-camera layout. Color options have also been rumored to include Mystic Black, Auspicious Red, Crimson Purple and a standard white finish, according to Gizmochina, though Huawei has not confirmed any of those specific choices.

For comparison, Huawei’s first-generation Mate XT, introduced in September 2024, featured a 10.2-inch display when fully unfolded and measured just 3.6 millimeters thick at its slimmest point, figures the company will likely aim to match or improve upon with the redesigned second-generation model despite the added engineering complexity of a triple-hinge folding structure.

Alongside the hardware, Huawei is expected to showcase how its newly introduced HarmonyOS 7 platform, first unveiled by the company in June, functions specifically on a tri-fold form factor. Software running across multiple foldable configurations presents distinct challenges compared with standard smartphones or even conventional single-fold devices, requiring the operating system to manage multiple resizable windows and support seamless transitions between folded and unfolded states across three separate screen layouts.

September’s event will take place exclusively in China, and Huawei has not indicated whether or when a global variant of the Mate XT 2 might follow, though the company’s earlier tri-fold models have historically seen international releases at later dates. The Sept. 7 timing also happens to overlap with the IFA technology trade show in Berlin, though Huawei’s launch event will be held separately and streamed via Weibo rather than staged at the German conference. With official specifications still unconfirmed as of this week, the Sept. 7 event is expected to provide the clearest picture yet of how significantly Huawei has reengineered its flagship foldable lineup for its second generation.

Allica Bank has applied for a banking licence in Sweden, the first time the UK digital business bank has sought to operate outside its home market and the opening move in what it hopes will become a wider European expansion.

The fintech said on Monday that it has submitted an application for authorisation to Finansinspektionen, the Swedish Financial Supervisory Authority, and has already established a legal entity in the country as part of the process.

It has also hired an executive team to build the Swedish business, combining banking and technology experience. Rickard Westlund will lead the operation, alongside Javier Ubillos as chief technology officer, Victor Ramstrom as chief product and operating officer, and Samuel Tawadros as chief financial officer. Recruitment for a range of further product, technology and operational roles is under way.

The announcement follows Allica’s $155 million Series D funding round in February, which valued the bank at close to $1.2 billion. Allica said at the time that the investment would support its next stage of growth, including a first expansion outside the UK.

If the licence is granted, the bank says Sweden would also provide a platform from which to offer its services across other European Union markets over the longer term.

Why Sweden

Allica said it chose Sweden as its first prospective international market because of its significant established business lending market, the high concentration of market share among incumbent banks, its highly digital economy and a well respected regulator. The bank believes established businesses there face many of the same banking challenges as their counterparts in the UK.

Richard Davies, Allica Bank’s chief executive (pictured), said: “Sweden has one of Europe’s most digital economies, with a well-respected regulator, making it a natural choice for Allica’s first expansion outside the UK. Its established businesses face many of the same challenges we have seen in the UK, where firms that make a major contribution to the economy have too often been underserved by traditional banks.

“We would not be taking this step without the proven model we have built in the UK. Allica has grown by delivering on its promises to established businesses, with a full stack product offering and combining market-leading technology with the expertise and service these businesses need. We are excited by the opportunity to bring our model to Sweden, subject to regulatory approval.”

Built on a UK track record

Allica has grown rapidly since securing its UK banking licence in 2019 by focusing on established businesses with between five and 250 employees, a segment it says generates a third of the UK’s GDP but has historically been underserved by both the high street banks and digital challengers. It has now lent more than £4 billion to established UK businesses, and more than 15,000 of them use its current account.

That growth has come as challenger banks as a group have taken a growing share of UK SME lending from the traditional high street names, competing on speed, technology and service.

Allica has been building momentum at home this year. It was named the UK’s most recommended business bank in March, based on feedback from more than 4,000 UK businesses, shortly after its funding round secured its status as one of the country’s newest fintech unicorns. Last October it moved deeper into working capital finance with the acquisition of SME lending fintech Kriya, its third acquisition.

Lucy Rigby, the Economic Secretary to the Treasury, said: “It’s brilliant to see Allica building on their success here in the UK and expanding into other European markets.

“The UK is a fintech powerhouse, and I’m fully committed to ensuring it remains a jurisdiction where the world’s most innovative financial services firms choose to start, scale and stay.”

Allica’s application remains subject to review and approval by Finansinspektionen, and the bank said it will set out further details of its plans for Sweden if and when authorisation is granted.

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

The Easy Home Buyer has grown in a business where speed often gets the most attention. Cash offers, fast closings, and as-is sales are usually the visible parts of the company’s work. Chad Young has tried to build something less visible but more lasting: a culture that teaches its team to understand the homeowner first.

That distinction matters. Many sellers who contact a direct home buyer are not simply comparing numbers. They may be facing an inherited property, divorce, foreclosure, costly repairs, a tenant problem, or a family transition. Some need someone to explain whether a cash sale is even the right option.

Young’s view is direct. The Easy Home Buyer should be “advisors first and house buyers secondly.” That idea has shaped hiring, training, leadership development, vendor relationships, and the way the team communicates with sellers across the Spokane and Coeur d’Alene area.

A Business Built Around Listening

The Easy Home Buyer began with Chad and Bree Young after years of operating Young’s Quality Cleaning. That earlier business taught them the satisfaction of improving neglected spaces and seeing a finished result. In 2020, they bought their first home to renovate and resell. The process gave them a new way to apply the same instinct: solve a practical problem, improve a property, and leave something better behind.

Company materials describe the first seller, Penny, as an important part of that origin story. She needed to move back to Seattle after a difficult season, and she wanted a simple way to leave her house behind. The transaction mattered, but the conversation mattered more. Chad listened, asked what would help, and came away with a deeper understanding of what the company could become.

The lesson was straightforward: sellers often need relief before they need a sales pitch. They need someone to ask the right questions, explain the tradeoffs, and respect the decision that follows. That lesson became one of the quiet building blocks of the company’s operating culture for its team as it grew locally.

Advisors First, Home Buyers Second

Young does not believe every homeowner needs a cash offer. That principle is central to the company’s culture because it changes the starting point of every conversation.

Instead of leading with a purchase price, the team is trained to ask questions. What is the seller’s timeline? What condition is the home in? Is the homeowner trying to avoid repairs, settle an estate, resolve a title issue, or move quickly because of a life change? Could listing the home make more sense? Would another option produce a better outcome?

Young has said the company wants homeowners to have enough information to make a qualified decision. That includes explaining when an as-is cash sale may produce a similar net result to a traditional listing after repairs, commissions, closing costs, taxes, and other fees are considered. It also includes acknowledging when a direct sale is not the best path.

That approach places education before conversion. It also requires discipline. A company cannot claim to be homeowner-first if every conversation is treated as a transaction to be won. The Easy Home Buyer has built its reputation around the belief that the right recommendation may sometimes be the one that does not lead to a purchase.

Hiring For Character Before Skill

For Young, culture starts before a person is hired. He believes skill sets can be trained, but character cannot be manufactured after the fact.

That belief affects the interview process. The company looks for emotional intelligence, steadiness, and the ability to communicate with people who may be under pressure. Experience in real estate can help, but it is not treated as the only measure of fit. In a business built around sensitive conversations, the wrong temperament can create problems no script can fix.

The Easy Home Buyer’s team often enters situations where people are overwhelmed, frustrated, embarrassed, or unsure whom to trust. A seller may be dealing with deferred maintenance. Another may be sorting through a family estate. Another may be managing foreclosure or divorce. The employee sitting at the kitchen table has to know more than numbers.

That is why Young places such weight on character. A person can learn how to estimate repairs, review comparable sales, or explain a closing timeline. It is harder to teach patience, tact, and judgment to know when a seller needs space to talk before decisions are made.

Training People For Hard Conversations

The Easy Home Buyer also supports its team through leadership coaching. Young has brought in coaches to speak with staff about emotional intelligence, difficult conversations, empathy, and tact. The goal is not to make employees sound polished. It is to help them communicate in the way each homeowner needs to be addressed.

This matters because direct home buying can involve high-stakes conversations. The seller is often making a decision tied to memory, family, money, and pressure. A rushed answer can make the process feel impersonal. A vague answer can create mistrust. A defensive response can turn a difficult moment into a worse one.

Leadership coaching gives the team a shared language for those moments. It reinforces company values and gives managers a way to develop people beyond technical ability. Over time, that training helps create a more consistent customer experience.

Technology That Protects The Human Element

Young sees technology as useful, but not as a substitute for human contact. The Easy Home Buyer uses AI and other tools to improve response times, prepare documents, check for errors, and keep internal processes moving. In that sense, technology helps the company become more organized and responsive.

Yet Young’s view is that technology should create more room for people, not less. If software reduces administrative work, team members can spend more time understanding a seller’s needs. If documents are reviewed faster and more accurately, the team can focus on the conversation rather than the paperwork.

The company’s business still depends on the face-to-face element. Young has described sitting across from homeowners at their dinner table as part of the foundation of the company. Technology can support the process, but it cannot replace trust built in person.

Accountability As A Service Standard

When asked what makes a successful real estate investment company from the homeowner’s perspective, Young gave a simple answer: do what you say you are going to do when you say you are going to do it.

The Easy Home Buyer’s core value of “Full Ownership” connects with that idea. Accountability is not only about fixing mistakes after they happen. It is about taking responsibility for the process from the beginning. It means being clear about what the company can do, what it cannot do, and what the homeowner should expect next.

The company’s other values support the same direction. “You Matter More” keeps the seller at the center. “Everyone Wins” pushes the team toward fair outcomes. “Continual Improvement” creates room to listen and adjust. “Be a Blessing” reflects the company’s intent to leave a positive mark on each interaction.

Problem Solving Beyond The Cash Offer

Young describes problem solving as the definition of what the company does each day. Few properties come with identical circumstances. Some homes need major repairs. Others involve squatters, messy title issues, difficult timelines, or family members who complicate the sale.

After hundreds of local transactions, The Easy Home Buyer has learned that solving the homeowner’s problem may require more than buying the house. One recent example involved a seller whose relative was living in the property and would not leave. The team helped move the relative into another company-owned home on a short-term lease, provided moving assistance, and connected him with a property management company to help find a longer-term rental.

Local Relationships With A Purpose

The Easy Home Buyer’s relationships with attorneys, contractors, title companies, and other local professionals also serve homeowners. Young has said the company’s volume and vendor relationships can help it close faster and keep renovation budgets lower. Those savings can affect the strength of the offer and the certainty of the process.

Local experience matters, too. The company presents itself as family owned and locally operated, with roots in the Coeur d’Alene and Spokane area. That local identity shapes how Young talks about the work. These are not distant markets on a spreadsheet. They are neighborhoods where team members live, raise families, and plan to stay.

A Culture Built To Serve Homeowners

The Easy Home Buyer’s growth has not moved it away from its original mission. Chad Young has built a company that hires for character, trains for empathy, uses technology with restraint, and measures service through accountability. The model still involves buying and renovating houses, but the larger culture is built around helping homeowners make informed choices. That is the point Young continues to reinforce: the company can grow, handle more complex projects, and serve more people without losing the human standard that made the work matter in the first place.