More than half of Britain’s graduates would walk away from a student loan if they had the chance to decide again, according to one of the largest public responses ever received by a parliamentary inquiry, a finding that should rattle ministers, universities and employers in equal measure.

The Treasury select committee, which scrutinises financial policy, launched its probe into student loans earlier this year amid mounting evidence that high interest rates and ballooning balances are weighing heavily on a generation of workers. Its call for evidence drew more than 52,000 responses inside a month, among the biggest hauls the committee has ever logged, and the verdict from the field is uncomfortable reading.

Of the 49,000-plus respondents who hold a loan, 57 per cent said they did not understand the terms and conditions of their repayments at the point of signing, and 51 per cent said they would not take one out again. Yet 91 per cent admitted, with equal candour, that they could not have gone to university without one, a tension that lies at the heart of the policy headache now facing the Treasury.

The milestones being put on hold

For a magazine that speaks to small business owners every day, the most striking finding is not the headline figure but the behavioural fallout. Respondent after respondent told the committee that the monthly drag of repayments was forcing them to defer the very life decisions that drive consumer demand and entrepreneurial risk-taking: buying a first home, starting a family, even accepting a promotion that nudges them into a higher repayment band.

That dovetails with a separate review by Sir Alan Milburn, the government’s jobs tsar, which found that one in ten so-called NEETs, young people not in education, employment or training, now holds a degree. Sir Alan told the Financial Times that “employers are demanding skilled labour, but the education system is not providing it,” a complaint that will resonate with SME owners who have watched the NEET total edge towards one million while vacancies in skilled trades remain stubbornly unfilled.

£53,000 of debt and an interest rate that bites

The numbers are stark. The average graduate now leaves university with roughly £53,000 of debt. From the April after graduation, they hand over 9 per cent of any earnings above a threshold ranging from £25,000 to £33,795, depending on which loan plan and which nation of the UK applies. Add a postgraduate loan to the mix and a further 6 per cent is sliced off income above £21,000.

The fiercest criticism is reserved for Plan 2 loans, taken out by those who studied between 2012 and 2023. Interest is pegged to the Retail Prices Index plus up to three percentage points, depending on earnings — a formula that, as the Institute for Fiscal Studies has repeatedly argued, means most Plan 2 graduates watch their balances grow despite making monthly repayments. Respondents to the committee described the regime as “excessive, outdated and incoherent”, with 93 per cent saying the level of interest and the repayment terms were unreasonable.

A marginal tax rate that drives talent abroad

For higher earners, the arithmetic looks even more brutal. A UK worker holding both an undergraduate and a master’s loan, earning above £50,270, faces a marginal tax rate of 57 per cent, 40 per cent income tax, 2 per cent national insurance, 9 per cent in undergraduate repayments and 6 per cent on the postgraduate slice.

Little wonder, then, that the survey picked up a steady drumbeat of graduates either planning, or actively considering, a move overseas. Loan repayments follow them across borders, but the appeal of more benign tax regimes is doing its quiet work, a brain drain risk that employers, particularly in technology, finance and life sciences, can ill afford.

Class inequality, social mobility and the SME workforce

The committee did not pull its punches on the wider social impact. It concluded that student loans were “entrenching class inequality and undermining social mobility”, because wealthier families can simply pay tuition upfront and sidestep the interest-bearing debt altogether. The repayment burden, it added, was making it harder for graduates to build emergency savings, contribute to a pension or open an ISA — exactly the kind of long-horizon thrift that an ageing population requires.

Dame Meg Hillier, the committee’s chair, was uncharacteristically blunt: “It’s imperative for the prosperity of our country that people in their twenties and thirties feel incentivised to work hard and build successful careers. Unfortunately, what these findings tell us is that far too many young people feel overburdened and demoralised by their student debt.”

That sentiment will land squarely with SME employers, who have long argued, as Business Matters set out in its own analysis, carried out by Trends Research, of why universities should be forced to tell the truth about graduate jobs and debt, that the value proposition of a UK degree has slipped badly out of kilter with the realities of the modern labour market.

What should ministers do next?

The inquiry, kicked into life partly by The Sunday Times’s End the Graduate Rip-Off campaign, will report later this year. Three reforms are likely to dominate the debate: a meaningful cut to the RPI-plus interest rate; a recalibration of repayment thresholds to reflect post-pandemic wage settlements; and far clearer disclosure at the point of sign-up, so that 18-year-olds know what they are committing to before the ink is dry.

For business owners, the political conclusions matter less than the practical ones. A workforce that is reluctant to relocate, postpones home ownership, delays family formation and eyes the Heathrow departure board is not the workforce the UK needs to power growth in the second half of the decade. The Treasury Committee has handed Westminster a 52,000-strong reminder that student finance is no longer a campus issue, it is a business issue.

---

Walmart is ramping up its private-brand strategy with a major overhaul of its home and hardware categories.

The retailer announced Wednesday that it is revamping its hardware department with an exclusive Greenworks Pro tool line and expanded Hyper Tough offerings. At the same time, Walmart says it is launching Mainstays Kids, its first new home brand in five years.

Courtney Carlson, a senior vice president at Walmart, told FOX Business that the strategy is centered on delivering more choice, innovation and value to customers.

WALMART WARNS SHOPPERS COULD FACE HIGHER PRICES AS FUEL COSTS SURGE, TAX REFUNDS DRY UP

“We always seek to bring the most assortment to our customers so that they have choice, variety, and so that we can provide many solutions for them,” Carlson said. “Our private brands are an important part of that strategy because what we see is that we build brands that bring unmatched quality through exclusive designs, innovation, and value to our customers.”

Continued demand from do-it-yourself (DIY) shoppers helped drive the decision to reboot the hardware department, according to Carlson.

“For us, it’s about investing in what we see our customers doing, and we have a lot of DIY customers,” she said.

The launch of Mainstays Kids comes as parents increasingly look for more personalized and design-focused spaces for their children, according to Carlson.

ASBESTOS FEARS SPARK URGENT RECALL OF 120K+ SQUEEZE TOYS SOLD AT WALMART, OLLIE’S

“What we saw is that parents really want to invest in their kids’ rooms, design in their kids’ rooms, and they see it as an extension of their own home,” Carlson said. “But they want it to be able to be really special to what their kids love.”

Carlson said Walmart developed the brand with extensive feedback from both parents and children throughout the design process. The retailer tested products directly with families and kids.

“We put the customer at the center and developed and designed with them the whole way through,” Carlson said.

WALMART CUTTING OR RELOCATING ABOUT 1,000 CORPORATE JOBS

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The expansion of Walmart’s private-brand strategy follows the company’s broader investment in its physical footprint. Last month, Walmart announced plans to remodel more than 650 of its stores around the U.S. and open about 20 new stores in 2026 and early 2027.

The push also comes as retailers increasingly use owned brands and exclusive assortments to compete on price, differentiate their merchandise and appeal to shoppers who remain focused on value.

“This investment is intended to create jobs, help strengthen local economies, and make shopping faster and more convenient for our customers,” Walmart said at the time, adding that the new stores and remodels will drive construction jobs during the projects while creating long-term roles in retail, pharmacy and store leadership.

FOX Business’ Eric Revell contributed to this report.

Alaska Wind Farm and Evolve Energy in ‘innovative’ agreement with BKUK

A wind farm developer and an energy supplier have teamed up to provide renewable power to Burger King restaurants in the UK.

Evolve Energy, from Lancashire, has partnered with Alaska Wind Farm LLP to supply power from the wind farm near Wareham, Dorset, to the fast food giant’s UK business BKUK. The energy will be used to power some of BKUK’s UK restaurants and to support the group’s sustainability and Net Zero goals.

The Alaska Wind Farm at Masters Quarry is made up of four refurbished 2MW Vestas V80 turbines relocated from Belgium. It generates some 17 gigawatt-hours of renewable energy a year.

The power from the scheme is now secured under a long-term Corporate Power Purchase Agreement (CPPA) with Evolve Energy. Lytham-based Evolve was introduced to the wind farm developer by BKUK’s partner Sustainable Energy First, which was advising the restaurant group on its sustainability plans.

James Hall, COO at Evolve Energy, said: “BKUK has been a valued customer for many years, so it was logical for us to take the unusual step of directly standing behind the CPPA as the contractual party for this impressive renewable project, exclusively matched against their demand.

“One of the most innovative aspects is the real-time, half-hourly matching of BKUK’s electricity use with the wind farm’s output, enabling non-standard cost savings while helping to reduce emissions. We’re proud to support BKUK integrate more renewable energy into its operations.”

The shares of Coal India tumbled more than 6% on Wednesday after the company fixed the floor price for its Rs 5,000 crore offer for sale (OFS) at a 10% discount to the previous closing price, with analysts suggesting technical levels for investors to watch out for.

The shares of the company dropped to Rs 428.40 apiece in the morning trading hours of Wednesday. If the stock manages to hold these losses till the end of the session, then this would mark the sharpest single-day fall since June 2024.

Coal India on Tuesday announced that the government will sell 6.16 crore equity shares, representing 1% of its total paid-up equity capital, as the base offer size. The government also retains an oversubscription option to sell an additional 6.16 crore shares, taking the total potential offer size to 12.32 crore shares or 2% equity. At the floor price of Rs 412 per share, this would be worth more than Rs 5,000 crore.

Also read | Govt to offload up to 2% stake in Coal India via OFS on May 27-29; floor price at Rs 412/shareThe offer opened for non-retail investors on May 27, while retail investors, eligible employees and non-retail investors carrying forward unallotted bids can participate on May 29, after the market holiday on May 28.

Technical levels for Coal India share price

Coal India’s near-term chart has turned cautious, but it is not structurally broken, said Harshal Dasani, Business Head at INVasset PMS. He explained that the stock is reacting to a clear supply event – the government’s OFS, with the floor price set at Rs 412, at a 10% discount to the previous closing level. “That has shifted the price action from a steady uptrend into a support test,” he said.

For investors, the first important price band to watch now is around Rs 428 to Rs 430, according to Dasani. “If the stock absorbs supply there and closes above it, the chart can still form a higher base rather than slipping into a deeper correction,” he said.
However, a close below Rs 428 would weaken the setup and bring the OFS floor near Rs 412 into focus as the next reference point, he added. On the upside, the analyst sees the stock finding immediate resistance around Rs 455 and then at Rs 460, because that is where the stock broke down from after the supply announcement. The broader trend would need a reclaim of that band before momentum improves again, he said, adding that the 52-week high near Rs 491 remains the larger resistance marker.
“For now, Coal India remains a dividend-led, value-heavy chart facing a temporary supply overhang. The next signal is not the bounce itself, but whether the market absorbs the extra supply without significant damage to volume,” the analyst concluded.

Coal India share price

Coal India shares have fallen around 5% in one week and more than 3% in one month. Overall, the share price of the miner has gained more than 9% so far in 2026.
In the longer term, the company’s stock gained over 9% in one year, 81% in three years and 202% in five years. The company has a market capitalisation of nearly Rs 2.7 lakh crore.

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

NEW YORK — AppLovin Corporation shares surged more than 12 percent on Wednesday, climbing $62.17 to $576.41 in midday trading after the mobile technology company reported robust first-quarter results and raised its full-year guidance, highlighting continued strength in its AI-powered advertising platform and gaming business.

The significant gain reflected investor enthusiasm for AppLovin’s ability to deliver consistent growth in a competitive digital advertising market. The company has emerged as one of the standout performers in the technology sector in 2026, benefiting from increased demand for sophisticated ad optimization tools and successful titles in its gaming portfolio.

AppLovin reported first-quarter revenue of $1.28 billion, representing 38 percent year-over-year growth, exceeding Wall Street expectations. Adjusted EBITDA reached $518 million, up 52 percent from the prior year. The company also raised its full-year revenue guidance to between $5.1 billion and $5.3 billion, signaling confidence in sustained momentum.

Strong Performance Across Business Segments

AppLovin operates two main segments: Software Platform, which includes its AI-driven AXON 2.0 advertising technology, and Apps/Games. The Software Platform segment showed particularly robust growth, with revenue increasing 45 percent as more advertisers adopted its machine learning tools for campaign optimization and user acquisition.

The company’s gaming business also contributed meaningfully, with several titles achieving strong monetization through in-app purchases and advertising. AppLovin has successfully transitioned from a primarily gaming-focused company to a diversified mobile technology platform, reducing its reliance on individual game performance.

CEO Adam Foroughi attributed the results to the effectiveness of AXON 2.0, which uses advanced AI to improve return on ad spend for developers and marketers. The technology has helped the company capture market share in a fragmented mobile advertising industry increasingly dominated by data-driven solutions.

Market Reaction and Analyst Upgrades

The double-digit share price increase pushed AppLovin’s market capitalization higher, reflecting renewed institutional interest. Several analysts raised price targets following the earnings release, with some forecasting $600 to $650 per share over the next 12 months. Consensus ratings remain strongly bullish, with most firms citing AppLovin’s technological edge and scalable business model.

The stock’s performance stands out even within the strong technology sector, where many companies have faced pressure from economic uncertainty and fluctuating ad spending. AppLovin’s ability to deliver both top-line growth and margin expansion has differentiated it from peers.

Industry Context and Competitive Position

AppLovin operates at the intersection of mobile gaming and digital advertising, two sectors undergoing rapid transformation through artificial intelligence. The company’s focus on AI for ad targeting and creative optimization positions it well as brands seek higher efficiency amid rising customer acquisition costs.

Major competitors include Unity Software, IronSource (now part of Unity), and larger players like Meta Platforms and Google. However, AppLovin has carved out a specialized niche by combining proprietary technology with a portfolio of owned games that serve as both revenue generators and testing grounds for new advertising tools.

Global mobile advertising spending continues to grow steadily, driven by increased smartphone penetration in emerging markets and higher engagement with gaming and social applications. AppLovin’s international expansion, particularly in Asia and Latin America, has contributed to its recent success.

Strategic Initiatives and Future Outlook

Management highlighted several growth initiatives during its earnings call. These include further investment in AI capabilities, potential strategic acquisitions in complementary technologies, and continued development of high-quality gaming content. The company also maintains a disciplined approach to capital allocation, with share repurchases forming part of its strategy.

For the remainder of 2026, AppLovin expects continued strength in its Software Platform business while stabilizing its Apps/Games segment through selective releases and portfolio optimization. Analysts project mid-30 percent revenue growth for the full year, with expanding margins as AI efficiencies scale.

Risks and Considerations for Investors

Despite the positive momentum, potential risks remain. The mobile advertising market remains subject to regulatory scrutiny, particularly around privacy policies and data usage. Changes in platform policies by Apple or Google could impact user acquisition costs and advertising effectiveness.

Economic slowdowns could reduce advertiser budgets, while competition in the gaming space remains intense. Geopolitical factors and supply chain issues in semiconductor manufacturing could indirectly affect the broader mobile ecosystem.

Valuation represents another consideration. After significant gains in recent years, AppLovin trades at premium multiples compared to traditional software companies. Investors will need to monitor whether the company can sustain its growth trajectory to justify current pricing.

Broader Market Implications

AppLovin’s performance contributes to positive sentiment in the software and digital advertising sectors. Its success demonstrates how specialized AI applications can drive meaningful returns in competitive markets. The company’s story also illustrates the ongoing convergence between gaming and advertising technologies.

As artificial intelligence becomes more embedded in digital marketing tools, companies like AppLovin are well-positioned to benefit. Wednesday’s sharp rally suggests investors are increasingly confident in the company’s ability to navigate industry challenges while capitalizing on structural growth opportunities.

Looking ahead, AppLovin will likely remain in focus as it reports quarterly results and provides updates on its AI roadmap. For investors considering exposure to the mobile technology space, the company represents a high-growth option with proven execution capabilities in a rapidly evolving industry.

The substantial share price movement on Wednesday underscores the market’s appetite for companies demonstrating clear technological differentiation and consistent financial delivery. As AppLovin continues refining its AI capabilities and expanding its platform, it is positioned to play an increasingly important role in the future of mobile advertising and gaming.

‘I said in January that I expected a busy first full year as CEO and that has certainly been the case so far’

A North East wealth manager expects to have acquired more than 20 companies into the group by the end of the year, as a result of its established buy-out model.

Directors at Sunderland-based Fairstone Group have hailed a busy year in which it added “substantially” to the business, acquiring eight companies in Northern Scotland, Northern Ireland, the South of England, the West Country, the East Midlands and the North East. It said the acquisitions expand and strengthen its geographic footprint across the UK.

The transactions included Fairstone’s largest purchase to date, the acquisition of West Midlands wealth management and corporate financial planning specialist Prosperity Wealth in February.

All eight firms acquired in the first quarter came into Fairstone, based in Doxford International Business Park in Sunderland, via the Downstream Buy-Out (DBO) model. They have collectively pumped more than £2bn of client assets under management into the group.

And directors revealed 13 more full acquisitions will be made later this year. Fairstone’s DBO model sees the business act as an investment partner, providing the centralised resource, technology, and capital to support the ongoing growth of ambitious financial firms ahead of a future sale. Once fully integrated, partner firms are then able to sell to Fairstone.

Fairstone CEO Steven Cooper said: “I said in January that I expected a busy first full year as CEO and that has certainly been the case so far. In just the first quarter of the year, we have added substantially to the business, not only in terms of the bare figures of client assets under management, but also in terms of our strategic presence and the depth and breadth of the services which we can offer our clients.

“For example, bringing Prosperity on board has added substantially to our expertise in areas such as corporate financial planning and employee benefits. These are things which not only benefit those clients who Prosperity have brought with them to Fairstone, but also to our existing and future clients right across the country.

“Every one of the eight firms who became part of Fairstone during Q1 brings something new to the business and strengthens the group as we look to help many more people achieve their financial goals and face the future with confidence.”

The eight firms acquired so far this year initially joined the DBO programme between two and four years ago, enabling staff and processes to become fully integrated into Fairstone before becoming part of the group.

Fairstone now operates from more than 50 locations, employing over 1,350 operational staff and regulated advisers. It oversees £23bn in assets under management on behalf of over 125,000 clients.

Like this story? For more deals news you can visit our dedicated page for the latest news and analysis here.