According to Jonathan Nicholson at the UK’s Civil Aviation Authority (CAA), for the airline industry, lithium-ion batteries are “if not number one, within the top three risks for a good few years now”.

A US recent study showed, external the industry was affected by two lithium-ion battery related incidents a week worldwide, he adds. Those incidents could range from passengers belatedly realising they’d left a device in checked baggage, to devices smoking or catching fire in airport baggage halls, or on flights.

But the results can be far more extreme. In January 2025 an Air Busan plane was destroyed on the tarmac in Gimhae Airport in South Korea, with investigators concluding a power bank battery pack left in an overhead luggage compartment was the culprit.

This prompted the International Air Transport Association (IATA) to launch a global campaign, external to encourage passengers to “Travel Smart with Lithium Batteries”.

There is nothing about flying that makes lithium-ion technology more dangerous, explains Nicholson. Rather, he said “it’s a lot harder to deal with at 32,000 feet in an aircraft cabin”.

Nicholson said the prevalence of lithium-ion related incidents was down to “more people, more flights, more devices”.

The US Federal Aviation Administration says that battery safety is a priority. Its data “continues to show an increase in confirmed incidents”, with 51 verified incidents for the year to July 15, external.

Pierre Kubiak, a principal engineer specialising in battery technology at the UK’s National Physical Laboratory, adds that while cell phones, power banks, tablets and laptops are the most obvious portable devices people bring on planes, smart watches, smart glasses and vapes were increasingly common.

“The lithium by itself doesn’t burn, it’s more all the organic material and plastic,” he explains. “The point is that it gets very, very hot, very fast. I mean, more than 700 to 1000 degrees super fast.”

The dangers of lithium-ion batteries really broke into the public consciousness following a series of phone-related fires about a decade ago.

Kubiak says that this had been down to flawed designs, and that manufacturers had since addressed concerns. South Korea is a leader in this space he adds.

But it was hard to control the proliferation of cheaply produced battery packs from East Asia, as well as vapes and other powered devices, with questionable quality controls. “Price is everything,” he says. Moreover, he adds, passengers often contribute to the problem by using unsuitable cables and not caring for devices.

Philadelphia sports retailers are seeing a surge in demand as fans race to buy newly released Philadelphia 76ers gear featuring LeBron James, with vintage sports apparel company Mitchell & Ness reporting brisk sales of merchandise celebrating one of the biggest free agency moves in franchise history.

David Dee, marketing manager at Mitchell & Ness, appeared on PHL17’s morning show Thursday to walk through the company’s newly available 76ers merchandise line featuring James, as well as additional products expected to roll out in the coming weeks. The Philadelphia-based company, known for its vintage and throwback sports apparel, has been at the center of the city’s rapid embrace of James since his free agency decision became official late last month.

A Stunning Free Agency Decision

James announced in late July that he would sign with the 76ers on a two-year, $8 million contract that includes a player option, ending months of speculation about where the NBA’s all-time leading scorer would continue his career following the conclusion of his tenure with the Los Angeles Lakers. The move marks James’ fourth NBA team, following stints with the Cleveland Cavaliers, Miami Heat and Lakers, as he pursues what would be a fifth championship before retirement.

James addressed the decision directly on social media, writing that he had strongly considered retirement after his most recent season ended, saying he was pretty sure he had played his final game before ultimately deciding he still had more to give. In a follow-up post, James said he believed he could help make the 76ers a championship team and expressed excitement about energizing a new fan base as he begins what he described as his final chapter in the league. He also thanked the Lakers organization, expressed continued love for Miami, and said Northeast Ohio would always be home.

James will join 76ers center Joel Embiid, a former Kia MVP, in the team’s frontcourt for the 2026-27 season, alongside star guard Tyrese Maxey, whose existing relationship with James’ representation at Klutch Sports Group was reportedly a significant factor in his decision to choose Philadelphia over other suitors.

Fans Line Up for New Gear

The response from Philadelphia’s fan base was immediate. Less than 48 hours after James’ announcement became official, fans lined up outside Mitchell & Ness’ flagship store in Center City Philadelphia for the debut of a $55 T-shirt featuring James alongside the 76ers logo and an image of his signature pregame chalk toss. Store manager Josh Steinberg described the reaction as immediate, saying customers were coming in buzzing with excitement, adding that everybody seemed happy about the news. According to reports from the store’s opening, some fans traveled hundreds of miles specifically to be among the first to purchase the new merchandise.

Fanatics, the major sports merchandise retailer, reported that its supply of James’ 76ers jerseys sold out within hours of his free agency announcement, underscoring the scale of demand across multiple retail channels beyond Mitchell & Ness alone.

A Growing Line of Merchandise

Since James’ arrival became official, both Mitchell & Ness and the official Philadelphia 76ers team store have continued expanding their available product lines featuring the star forward. Offerings have included a range of T-shirts priced between roughly $32 and $100, alongside jerseys, hoodies and other apparel spanning youth, toddler and adult sizing. Mitchell & Ness in particular has continued rolling out new designs, including a black “Witness” T-shirt and hoodie referencing James’ longtime personal branding, along with additional shirts featuring caricature-style artwork and locker room-themed designs.

The National Basketball Association’s official store has also begun stocking James’ 76ers merchandise alongside memorabilia spanning his entire career, including items connected to his earlier stints with the Cavaliers, Heat and Lakers, positioning the retailer as a comprehensive source for collectors following what the league has described as one of the most storied careers in NBA history across four different franchises.

A City Embracing a New Era

The scale of the merchandise rush reflects broader excitement across Philadelphia’s sports fan base heading into the 2026-27 NBA season, with James’ arrival widely seen as a potential turning point for a franchise that has not won an NBA championship in more than four decades. Philadelphia’s last NBA title came in 1983, and fans and commentators have drawn comparisons between James’ arrival in Philadelphia and his earlier move to Cleveland, where he ended a 52-year championship drought for the city by winning a title with the Cavaliers in 2016.

Behind the Decision

According to reporting on James’ free agency process, Bob Myers, president of Harris Blitzer Sports & Entertainment, which owns the 76ers, made a personal pitch to James’ camp by appearing as a guest on a podcast co-hosted by James’ agent, Rich Paul, and Max Kellerman, part of a broader recruiting effort aimed at convincing James that Philadelphia offered his clearest remaining path to a fifth championship. James’ agent had previously indicated that the star forward was prioritizing what he described as basketball happiness in making his decision, a framing the 76ers organization worked to align with in their pitch.

With James’ contract reportedly including a full 15% trade kicker and a player option but no no-trade clause, given the short-term nature of the deal, his exact long-term future with the franchise beyond this coming season remains a subject of ongoing speculation among analysts. For now, though, Philadelphia retailers are focused on meeting immediate consumer demand, with Mitchell & Ness and other retailers continuing to expand their James-focused 76ers product lines as the team prepares for training camp and the start of the 2026-27 season, when James will take the court for the 76ers for the first time in a Philadelphia uniform.

For many years, financial literacy was often associated with investors, traders, and finance professionals. Today, that view is changing. In an increasingly connected global economy, understanding financial concepts has become one of the most valuable business skills for entrepreneurs, executives, managers, and SME owners.

Business decisions are no longer made in isolation. Inflation, interest rates, currency movements, geopolitical events, and changes in consumer confidence can all influence profitability. Even businesses that operate only in domestic markets are affected by global economic developments through higher costs, changing customer demand, or supply chain disruptions.

Financial literacy allows business leaders to understand these external forces rather than simply reacting to them. It provides the confidence to make informed choices based on evidence instead of uncertainty. As economic conditions become more complex, financial education is increasingly viewed as a practical business necessity rather than an optional area of knowledge.

Why Economic Awareness Shapes Better Business Strategy

Every business operates within a wider economic environment. When inflation rises, operating expenses often increase. Energy costs, wages, transport, and raw materials may all become more expensive within a relatively short period.

Business leaders who understand inflation trends can prepare earlier by reviewing supplier contracts, adjusting pricing strategies, or improving operational efficiency before costs become difficult to manage.

Interest rates provide another clear example. When central banks raise borrowing costs, businesses may reconsider expansion plans, equipment purchases, or refinancing decisions. Companies with strong financial planning are generally better positioned to adapt because they understand how monetary policy affects both financing costs and customer spending.

These examples show that financial literacy is closely linked with effective business strategy. Leaders who understand the broader economic picture can make more balanced decisions during periods of uncertainty.

Financial Literacy Supports Everyday Decision Making

Many people assume financial knowledge is only relevant for annual budgets or investment portfolios. In reality, it influences everyday operational decisions.

Cash flow management is one of the clearest examples. Even profitable companies can experience difficulties if income and expenses are poorly managed. Understanding financial reports, forecasting future cash requirements, and identifying potential funding gaps allows businesses to remain stable during challenging periods.

Currency fluctuations also affect many SMEs. A local manufacturer importing materials from overseas may suddenly face higher production costs when exchange rates move unfavourably. Likewise, exporters may benefit from currency changes but still need to manage pricing and contracts carefully.

Commodity prices can create similar challenges. Businesses that rely on fuel, metals, agricultural products, or construction materials often experience changing costs driven by global market conditions. Financial literacy helps decision makers recognise these trends and plan accordingly instead of being caught by surprise.

Reading Economic News With Confidence

Modern business leaders receive a constant flow of economic information. Headlines about inflation, GDP growth, employment figures, trade policies, or central bank decisions appear almost daily.

Without financial education, this information can seem confusing or disconnected from everyday business operations. However, leaders who understand the basic economic principles behind these reports can identify which developments genuinely require attention.

Rather than reacting emotionally to every headline, financially literate professionals learn to evaluate information within a broader context. They recognise that short-term market volatility does not always require immediate business changes, while some long-term economic trends deserve careful strategic planning.

As businesses increasingly recognise the importance of financial literacy, many professionals also follow educational resources and daily market insights published by ScoreCM to better understand economic developments, central bank decisions, inflation trends, and broader market conditions that may influence business planning.

This habit of continuous learning enables better financial decision making and supports more confident leadership during periods of economic uncertainty.

Supply Chains, Geopolitics, and Business Resilience

Recent years have demonstrated how quickly global events can affect local businesses. Political tensions, conflicts, trade restrictions, shipping disruptions, and natural disasters have all influenced supply chains across multiple industries.

A delayed shipment on another continent can increase production costs for a manufacturer in the UK. New trade regulations can affect delivery schedules, while rising energy prices may influence transportation expenses worldwide.

Financial literacy helps business leaders understand how these external events influence operational performance. More importantly, it encourages proactive planning rather than reactive decision making.

Businesses with stronger financial awareness often develop contingency plans, diversify suppliers, maintain healthier cash reserves, and review long-term contracts more carefully. These actions improve resilience without relying on predictions about future market movements.

Financial Education Creates Competitive Advantage

The pace of economic change continues to accelerate. Artificial intelligence, digital transformation, changing consumer behaviour, and global economic shifts require leaders to make increasingly complex decisions.

Continuous financial education equips professionals with the knowledge needed to adapt. It encourages better conversations with accountants, lenders, investors, suppliers, and customers because leaders understand the financial implications behind strategic choices.

Entrepreneurship today involves far more than creating a product or delivering a service. Successful founders also need to understand financing options, budgeting, risk management, pricing, taxation, and market conditions. These capabilities strengthen long-term planning and improve organisational confidence.

For SMEs in particular, where owners often perform multiple leadership roles, financial literacy can provide a meaningful competitive advantage. Better-informed decisions often lead to stronger financial planning, more sustainable growth, and greater resilience during uncertain economic cycles.

The most successful businesses are rarely those that simply react to changing conditions. They are the organisations that understand the financial environment around them and prepare accordingly.

Financial literacy is therefore no longer just an investor skill. It has become an essential capability for modern business leaders who want to navigate uncertainty, build stronger organisations, and make informed strategic decisions in an increasingly interconnected economy.

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US President Donald Trump signed an executive order on Thursday that imposes a 15% tariff on imported products made from polysilicon, a crucial material used in semiconductors and solar panels.

The order also set minimum import prices on polysilicon and related products. It comes after a national security investigation into the production of the material overseas.

The move is intended to help protect US manufacturers as they face increasing competition from China’s chip industry – a key source of friction between the world’s two largest economies.

The Chinese embassy in Washington said the move “seriously disrupts” trade between the two countries and Beijing will act to protect its companies.

Washington is “abusing state power to go after Chinese businesses,” the embassy said, adding that protectionism will not make the US more competitive.

Trump said in the order, external that he had accepted recommendations by Secretary of Commerce Howard Lutnick to set minimum import prices as well as a 15% tariff on polysilicon and related imports.

The measures are due to take effect in December.

The US will also offer incentives to boost domestic production, it added.

For decades, the US has allowed “foreign firms to weaken United States producers in the polysilicon sector,” said Trump, who has long advocated for the use of tariffs to protect American jobs and boost the economy.

The material is critical in military equipment and electronics, yet imports have led to the US’ share of global polysilicon production to fall from 50% in 2005 to less than 2% in 2024, Trump said.

China holds a near monopoly on the production of polysilicon.

The order is likely to benefit Hemlock Semiconductor and Wacker Chemie, which are the main producers of the material in the US.

The production of computer chips is central to the race between the US and China to develop artificial intelligence (AI). Washington and Beijing have also been locked in a tit-for-tat tariffs war, which has been on hold since May 2025.

Analysts quoted by Chinese state media outlet Global Times said the new tariff marks the latest escalation in Washington’s efforts to limit China’s role in critical technology supply chains.

The move follows other US restrictions on the imports of drones, humanoid robots and other tech products from China.

China announced a range of countermeasures this week, including tighter export controls on drones. Beijing also launched a national security review into imported printers and copiers.

At a meeting with Securities & Exchange Board of India (Sebi) and officials of Department of Economic Affairs here on Wednesday, the high-frequency trading firms said that Reserve Bank of India‘s stern regulations on leverage would force them to shift exposures from entities here to FPIs.

Read more: Most active funds beat benchmark indices last year: Motilal Oswal StudyThe meeting -attended by senior advisors and two European custodian banks representing FPIs and a few MNC trading subsidiaries- comes two months after India eliminated taxes on government securities (G-Secs) for FPIs.

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Since April RBI prohibited banks from funding brokers for proprietary trade or investment, and, more significantly, stipulated that credit to brokers must be backed by 100% collateral.
“No such leverage restriction exists offshore. And since traders here can’t take guarantees from banks overseas, some trades would be routed through FPIs. No one gains from this. The government gets less tax and the market sees less market-making and liquidity-providing trades. And the trading entities can’t cut deals through or as FPIs which they can as a domestic entity,” a person familiar with the discussions told ET.Despite higher tax on Indian subsidiaries — compared with zero tax on derivative profits for FPIs in treaty-friendly jurisdictions like Mauritius and Singapore — several foreign traders have set up shop here to overcome restrictions applicable to FPIs. These include strict position limits for futures and options trades, and the conditions under for short-selling.

“The DEA officials didn’t say anything but were willing to listen – probably after the increase in inflows following tax cuts on G-Secs, though the delay in inclusion of G-secs in Bloomberg index may disappointment many,” said another person.

India scrapped taxes on G-Secs for FPIs through a June ordinance with effect from April 1, 2026. With this, interest withholding tax, along with short-term and long-term capital gains taxes were removed.

“It’s widely felt that rationalisation of STT along with other charges and levies would make transaction charge more competitive. There’s also demand to reduce capital gains tax which has risen over the years, but I don’t know to what extent the government is open to this,” said an industry official who attended the meeting.

STT, applying on stocks, derivatives, and equity-oriented mutual funds, is collected by exchanges directly at the time of transaction. Introduced in 2004 as a small turnover tax after abolishing the long-term capital gains tax, STT continued even after long-term capital gains tax was brought back and tax on equity profits was raised. STT on equity derivatives was hiked in 2026 but it may not have led to a fall in retail losses in F&O.

“Through there was no one from CBDT (Central Board of Direct Taxes), the new uncertainty post Tiger Global was mentioned,” said a source. The Supreme Court verdict on the US investment firm has unsettled foreign investors, changing the way they interpret treaties and indirect transfers.