The bank has released its latest business barometer

Welsh businesses are showing resilience in response to global uncertainty, with 68% saying they are confident in their ability to withstand economic shocks, according to new findings from the Lloyds business barometer.

More two thirds (71%) of Welsh businesses say they have been impacted by recent global uncertainty, with 62% citing rising costs and 44% citing supply chain disruption as the main consequences. Despite this, 48% of firms said they still expect to grow this year.

The latest research reveals that Welsh businesses are adapting, with 51% of firms actively adjusting their strategy in response to global uncertainty, Among those taking action, 66% have introduced cost-saving measures, 49% have delayed or reduced expansion plans and 44% have locked in commodity, raw material or input prices.

Welsh businesses are using financial tools to help manage volatility, with 66% of companies saying they have the right financial tools and support to mitigate economic shocks.

Of those with appropriate support, 39% use cashflow forecasting, 32% use working capital facilities or overdrafts and 31% use invoice or supply chain financing.

For the UK as a whole 84% of businesses are confident in their ability to withstand economic shocks.

Nathan Morgan, area director for Wales at Lloyds, said: “Welsh businesses continue to show real resilience in the face of global uncertainty. While rising costs and supply chain disruption are clearly having an impact, it’s encouraging to see firms taking proactive steps to protect their operations, manage volatility and keep their growth ambitions on track.

“By introducing measures such as cost saving, fixing prices and using tools like cashflow forecasting, businesses are putting themselves in a stronger position to navigate the months ahead. The challenges are clear, but these findings show that many Welsh firms remain confident, adaptable and ready to capitalise on opportunities as they emerge.”

Amanda Murphy, chief executive for Lloyds Business and Commercial Banking, said: “What we’re seeing from businesses is not just resilience, but decisive action in the face of ongoing uncertainty.

Across sectors like manufacturing, logistics and food production, firms are taking practical steps to protect their operations – increasing inventory and locking in costs where they can.

“Many also recognise that global supply chain challenges and energy market volatility are structural issues, not temporary blips. In response, businesses are managing costs, securing supply and building greater resilience into their operating models.

“That puts greater focus on working capital and funding, but it also reflects a confidence. Firms are backing their ability to navigate uncertainty and continue to grow.”

Severe storms swept across Oklahoma overnight Sunday into Monday morning, prompting multiple tornado warnings and severe thunderstorm warnings, knocking out power to thousands of residents, and causing reported property damage across several counties.

Tornado Warnings Issued Overnight

Tornado warnings were issued for Noble, Logan and Payne Counties until 2 a.m. as storms tracked through the region overnight. Large hail and damaging winds were expected overnight Sunday, with the slight possibility of isolated tornadoes if conditions presented themselves, according to the News 9 Storm Team, which monitored the system as it moved across the state.

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Widespread Power Outages in Woodward

The storms left a significant mark on the electrical grid in northwestern Oklahoma. OG&E reported close to 2,500 people without power in Woodward after severe storms caused several outages overnight Sunday. The first outages were reported close to 11:22 p.m., with an estimated time of restoration close to 5 a.m. Monday morning.

The disruption extended beyond Woodward itself, with reports of approximately 400 additional people without power near Harper, Oklahoma, as the storm system continued moving through the area.

A Train Knocked Over by High Winds

Among the more dramatic incidents reported during the overnight severe weather event, high winds knocked over a train east of Woodward, underscoring the intensity of the wind gusts accompanying the storm system as it tracked across the region.

Storm Damage in Fairview

Beyond the power outages and the overturned train, storm damage was also reported in Fairview as the severe weather system continued its path through northwestern Oklahoma, contributing to a broader picture of property impacts across multiple communities affected by the overnight storms.

A Sequence of Escalating Warnings

The National Weather Service issued a series of escalating warnings throughout the evening and overnight hours as the storm system intensified and moved across the state. A Severe Thunderstorm Warning was issued until 10:15 p.m. for Woodward County, followed later by a Flood Warning issued for the Chikaskia River near Blackwell, affecting Grant and Kay Counties. Subsequently, a Severe Thunderstorm Warning was issued until midnight for Ellis, Woods, Harper, and Woodward Counties, before the tornado warnings for Noble, Logan, and Payne Counties followed in the early morning hours.

Part of a Broader, Historically Active Severe Weather Month

Monday’s storms in Oklahoma arrive amid what meteorologists have already characterized as an exceptionally active stretch of severe weather across the central United States this month. June is off to an exceptionally violent, near-historic start across the United States, cementing 2026 as one of the most active severe weather years in recent memory. Data tracking preliminary severe storm logs from June 1 through June 16 reveals that the nation is experiencing its second-fastest start for damaging straight-line wind reports since comprehensive record-keeping began in 1955.

That pace of severe weather activity has been surpassed only once in recorded history during the same early-month window. This month’s relentless barrage of bowing thunderstorm complexes and intense squall lines has churned out wind damage at a pace surpassed only by the legendary, hyperactive June of 2008, which logged a staggering 3,619 wind reports during the exact same 16-day opening window. If the upcoming weeks remain this highly charged, atmospheric experts believe 2026 stands a legitimate chance at challenging the all-time full-month June record of 5,554 wind reports.

A Year Already Marked by Deadly Tornado Activity in Oklahoma

Sunday and Monday’s storms add to what has already been a dangerous year for severe weather across Oklahoma specifically. Earlier this year, Oklahoma experienced a high-end EF-4 tornado in April, along with a localized, multi-tornado event earlier this month on June 11. In March, a deadly outbreak in the state killed a mother and daughter in Major County when an EF2 tornado struck their vehicle near U.S. 60, while additional tornadoes touched down near Cleo Springs, Jet, Helena, and Wakita during the same multi-day event.

Continued Severe Weather Threat Across the Central U.S.

As of Monday morning, the broader threat of severe weather and flooding remained active across a wide swath of the central United States. Storms and flood threats continue to persist across the central U.S., according to weather tracking services monitoring the region, suggesting additional rounds of severe weather remained possible as the broader system continued moving through the Plains states.

What Residents Should Do

With power outages affecting thousands of residents in Woodward and Harper, and storm damage reported in multiple communities, residents in affected areas were urged to monitor official weather alerts and avoid downed power lines and debris while restoration crews worked to repair damage. Estimated restoration times for the Woodward outages were set for around 5 a.m. Monday, though officials cautioned that timelines could shift depending on the extent of damage discovered during repair efforts.

With severe weather continuing to threaten portions of the central United States and meteorologists warning that 2026 could approach historic records for storm activity by the end of the month, residents across Oklahoma and neighboring states are being urged to remain vigilant for additional rounds of severe thunderstorms, large hail, damaging winds, and the potential for further tornado development in the days ahead. Continued monitoring of National Weather Service alerts and local forecasts will remain essential as the broader weather pattern responsible for this month’s unusually active severe weather continues to evolve across the region.

The shares of Vikram Solar dropped nearly 3% on Monday after the Kolkata bench of the National Company Law Tribunal (NCLT) admitted an insolvency petition filed by Isitva Steels Private Limited against the company over alleged dues worth Rs 9.44 crore.

In an exchange filing released on Friday, Vikram Solar said that Isitva Steels (ISPL) alleged non-payment of dues in its petition regarding civil works sub-contracted to ISPL in 2018 for a solar EPC power project being set up in Andhra Pradesh.

“The alleged claim amount is approximately Rs 9.44 crore (including an interest of approximately Rs 4.21 crore), which has been actively and vigorously disputed by the company, inter alia, in light of the existence of a full and final settlement agreement dated December 7, 2019, entered into between ISPL and the company,” Vikram Solar added.

The solar module maker said it is in the process of filing an appeal against the NCLT order before the NCLAT and is consulting its legal advisors for other possible legal courses of action. Meanwhile, Tripti Agarwal has been appointed as the Interim Resolution Professional.

Also read: Vikram Solar crosses 10 GW in global deployments

Vikram Solar share price

Vikram Solar shares had made a muted market debut in August last year, listing at around a 2% premium over the IPO price at Rs 338 apiece. The IPO of Vikram Solar, which opened on August 19 and closed on August 21, received an overwhelming response with a 56.42 times subscription. Qualified Institutional Buyers (QIBs) led the demand at 145.10 times, while Non-Institutional Investors (NIIs) subscribed 52.87 times and the retail portion 7.98 times.

The stock then jumped 21% in around a month to hit a 52-week high of Rs 407.95 apiece in September 2025. The stock then sharply tumbled over 60% to hit a 52-week low of Rs 162.10 per share in February this year. The stock has so far recovered 20% since then to trade at Rs 195.01 apiece today.
Also read: Infosys, HCL Tech, Coforge, other IT stocks rise up to 3% a day after a massive crash. What lies ahead? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Shares of pharmaceutical major Cipla rallied as much as 4% to their day’s high of Rs 1,409 on the BSE on Monday after international brokerage firm Citi placed the stock on a 90-day Positive Catalyst Watch while maintaining its ‘Buy’ rating and target price of Rs 1,700, an upside of 25.55% from current levels.

The Wall Street brokerage believes several near-term triggers could support the stock, including the likely approval of gFlovent from the Goa facility, which could boost growth in the US market, and the expected launch of gVentolin. Citi also noted that Cipla’s Nintedanib has captured nearly 50% market share in the US, while the company’s US business is poised for a revenue rebound following recent weakness.

Also Read | Cipla appoints health chief Shivam Puri to lead One India business

On the domestic front, the brokerage said Cipla’s India business continues to perform well, aided by a recovery in its respiratory portfolio. Citi also highlighted that a re-inspection of the Indore plant is due at any time, and a favourable outcome along with USFDA clearance could serve as an additional catalyst for the stock. The brokerage added that easing geopolitical tensions have reduced concerns around raw material costs and margins.

According to Citi, Cipla’s earnings have likely bottomed out following the decline related to gRevlimid. The stock currently trades at 25x FY27E earnings and 21x FY28E earnings. With the India business contributing nearly two-thirds of EBITDA, Citi believes Cipla offers attractive exposure to the domestic pharmaceutical market at a more reasonable valuation than several India-focused peers.

It noted that Cipla’s India business is valued at 7.8 times FY26 sales compared with 8.5 times for Mankind. Overall, the brokerage sees a favourable risk-reward profile, supported by upcoming US catalysts, improving domestic business trends and attractive valuations.
Also Read | Dividend alert! Last date to buy Asian Paints, HUL, Tata Power among 11 stocks for Rs 73 dividends

Cipla Q4 snapshot

The pharma major reported a 55% year-on-year (YoY) decline in its consolidated net profit at Rs 555 crore in the fourth quarter. The profit was compared with Rs 1,222 crore recorded in the last year’s fourth quarter. The company’s revenue from operations slipped around 3% YoY to Rs 6,541 crore in the March quarter.EBITDA fell 35% to Rs 997 crore from Rs 1,538 crore in the year-ago period, while EBITDA margin contracted sharply to 15.2% from 22.8%. For the entire financial year which ended on March 31, 2026, Cipla reported a 2% YoY rise in revenue to Rs 28,163 crore but 26% YoY decline in net profit to Rs 3,879 crore.

Cipla shares are down over 6% in 2026.

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

The line-up includes Professor Green, Liberty X, Amelle from Sugababes, and S Club 7’s Jon Lee and Jo O’Meara

A music festival is set to proceed next weekend despite having its planning application rejected last week. The Wiltshire Throwback Festival is a two-day event scheduled to take place at Oakfield Stadium in Melksham next Friday and Saturday, June 26 and 27.

The festival, branded as WTF26! features a line-up that includes platinum-selling London rapper Professor Green, chart-toppers Liberty X, Amelle from all-girl pop band Sugababes, and Jon Lee & Jo O’Meara from S Club 7.

Also on the bill are late-90s UK R&B boy band Another Level, London R&B/hip-hop collective Big Brovaz, UK garage outfit DJ Pied Piper and MC DT, Manchester garage act Sweet Female Attitude, and British ninja-masked Radio 1 DJ Jaguar Skills.

Last year, ahead of the inaugural festival, Wiltshire Council turned down a planning application on ecological grounds, citing the need to protect land at the periphery of the stadium site from being trampled underfoot.

A licence was ultimately granted and the festival went ahead as planned.

This year, festival organisers resubmitted their planning application – only for it to be refused once again, this time on both ecological grounds and concerns over noise pollution.

Organisers have lodged an appeal against the ruling, effectively placing the planning process in a holding pattern and permitting the festival to go ahead.

In May, Bowerhill-based events firm Jarboom submitted a planning application to Wiltshire Council seeking approval to stage the festival at the stadium, which serves as the shared home of Melksham’s football and rugby clubs.

The company informed the council it wished to expand the audience capacity to 5,000 over-18s ticket-holders on each day – double the previous size.

It also sought approval for an additional, smaller stage at the venue, dedicated to 80s music enthusiasts, to “enhance the festival experience.”

However, on June 17 — fewer than two weeks before the event — the council rejected the planning application.

Throughout the 30-day consultation period, the council’s Public Protection team said: “the submitted Noise Management Plan is insufficient to assess the likely impacts of noise on residential amenity.”

A late objection from the council’s ecology officer added: “Insufficient information has been provided to demonstrate that the proposal would avoid significant harm to habitats and species.”

By contrast, Melksham Town Council backed the application, “on the basis that it is a one-off event only and granting permission does not establish a right for multiple events.”

Melksham Without Parish Council said it “welcomes this application and reflected positively on the successful running of the previous event, noting effective crowd management, good security arrangements, minimal traffic issues and positive police feedback.”

Speaking to the Local Democracy Reporting Service, Nico Menghini of Jarboom said: “We are naturally disappointed by Wiltshire Council’s decision to refuse the planning application for WTF26! , particularly as we have worked extensively to address the concerns raised during the 2025 process.

“The reasons cited relate primarily to the wildlife area located alongside the pedestrian route to the festival site and the assessment of our Noise Management Plan.

“We had proposed additional mitigation measures, including fencing to protect the wildlife area, and submitted a comprehensive noise management strategy based on the same successful procedures implemented during WTF25! , which received no formal noise complaints and was praised by stakeholders for its effective management.

“We firmly believe these matters can be satisfactorily resolved and have already begun the process of appealing the decision.

“We remain confident in our plans and are continuing to work closely with all relevant parties to ensure the event is delivered safely, responsibly, and in line with all requirements.”

He went on to add: “Most importantly, WTF26! is going ahead as planned.

“We are incredibly excited to welcome thousands of festival-goers back to Oakfields Stadium.

“The support from our community, ticket holders, local businesses, and partners has been phenomenal, and we remain committed to delivering our biggest and best festival yet.

“With ticket sales continuing strongly and only a limited number remaining, we can’t wait to bring people together from across Wiltshire and beyond for another unforgettable weekend of music, entertainment, and community spirit.”

A spokesperson for Wiltshire Council has been contacted for comment.

NatWest is to put its entire 60,000-strong workforce through training on the ethical risks of artificial intelligence, as the high street lender races to weave the technology through every corner of its operations.

The FTSE 100 bank said the course, which will take staff two to three months to complete, is designed to build “a strong culture of responsible AI” as the tools move from the margins into day-to-day banking. It draws on a programme NatWest first developed with the University of Edinburgh, now being opened up to the whole business as more colleagues reach for the technology.

The roll-out lands at a moment when Britain’s banks are competing hard to show they can deploy AI faster and more responsibly than their rivals. Barclays and Lloyds have both joined the Financial Conduct Authority’s live AI testing sandbox, and Barclays has said it will lean heavily on the technology as it targets £2bn of cost cuts by 2028. NatWest, for its part, has already upgraded its AI chatbot to offer more “human” interaction as it continues to shut branches.

The thinking is straightforward enough. Lenders hope AI will sharpen the productivity of their people and strip cost out of the business. Yet that same promise has stoked fears that large numbers of jobs could be automated away, and raised thornier questions about how staff use a powerful technology safely and fairly.

Paul Dongha, who runs NatWest’s AI strategy, said the bank wanted to “equip colleagues with the skills and confidence to use it responsibly” as AI became “increasingly embedded in how we serve customers and run our bank”. The course, he added, would hand employees “even more practical tools to recognise risks, ask the right questions and make better decisions in their day-to-day roles”.

The training itself was built in partnership with the University of Edinburgh’s Edinburgh Futures Institute, whose AI and data ethics programme for NatWest blends classroom teaching on AI fundamentals with sessions on data privacy, regulation and the wider implications for society and business. Having first run the course for leaders and selected colleagues, the bank is now extending it across the group, part of a broader push to build an AI-literate workforce.

The drive comes from the top. Paul Thwaite, the chief executive, has positioned NatWest at the front of the industry’s scramble to adopt AI. Speaking at The Times CEO Summit, he said “the economic prize for the country, but also for businesses like mine, is how quickly and how effectively you can adopt it”, arguing that the technology was “cutting across all lines of our business. I don’t think there’s a role that isn’t really affected.”

Thwaite was candid about what that means for jobs. While AI can lift the output of white-collar staff, there are real concerns it will replace many of them outright. In time, he told the summit, “there will be roles that currently exist that absolutely to all intents and purposes [will be] delivered by AI”. That warning chimes with a wider squeeze on entry-level work, with junior roles in finance and accounting among those hit hardest as employers cut graduate hiring and turn to AI.

NatWest’s own make-up has already shifted markedly. More than a quarter of the group’s employees now work in software engineering, a striking figure for an institution still thought of by most customers as a place to keep their current account. For a bank betting that the next phase of growth runs through automation, teaching 60,000 people how to use the technology wisely looks less like a nicety and more like a necessary insurance policy.

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A surprising phrase from the latest episode of Love Island USA has viewers searching for answers online after a conversation between the Islanders sparked confusion across social media.

Where the Phrase Came From

The moment that launched the phrase into viral territory came during a morning conversation in the dressing room. During a morning chat in the dressing room, Trinity joked, “Which one of you was getting French fries last night? Because that sounded too wet for kissing.” The comment immediately caught the attention of both the other Islanders and viewers at home.

Kenzie quickly laughed and appeared to acknowledge that the remark was directed at her following a night spent sharing a bed with Corbin.

What the Phrase Actually Means

Since the episode aired, fans have taken to Reddit, TikTok, and X to figure out exactly what the phrase means. Based on the context of the Love Island USA conversation and fan discussions online, the term is generally being used as a code word referring to a sexual act involving fingers. In simple terms, French Fries refers to Corbin’s fingers and Kenzie.

A post from Us Weekly summarized the development directly: “Love Island USA introduced a new code word when ‘French fries’ was used to describe a sex act between Kenzie Annis and Corbin Mims.”

Neither Islander Explicitly Confirmed It

Despite the widespread interpretation, the moment itself was left somewhat ambiguous on screen. In this particular case, many fans on Reddit and social media interpreted Trinity’s comment as a reference to a more intimate interaction that may have taken place overnight between Kenzie and Corbin. However, neither Islander explicitly confirmed the exact meaning during the episode.

A Show Known for Inventing Its Own Slang

The phrase’s sudden popularity fits a long-running pattern on the franchise, where contestants frequently coin their own playful shorthand for romantic or physical moments rather than describing them directly on a broadcast aimed at a broad audience. Part of what makes Love Island USA so popular is the way contestants create their own slang and inside jokes throughout the season. These phrases frequently go viral online, leading fans to search for explanations and share their own interpretations.

Love Island has a long history of contestants inventing jokey shorthand for sex and kissing, which fans then adopt. The format’s tendency to push contestants into euphemism, rather than blunt language, has produced a steady stream of viral catchphrases across multiple seasons and international versions of the show.

A Theory on the Phrase’s Specific Origins

Some commentary on the phrase points to a simple wordplay swap as the likely root of how it caught on. A clip from the villa, where a contestant substituted “french fries” for “Frenchies” or “French kisses,” circulated and got memed. That sneaky swap made it into captions and reaction videos, which is how slang often germinates on reality TV platforms. Under that theory, the phrase began as a more innocent reference to French kissing before evolving, in this season’s usage, into something more specifically tied to the Kenzie and Corbin moment.

How Fans Are Using It Now

In the time since the episode aired, “French fries” has already become a recurring shorthand across social media commentary on the show, used both literally in reference to the specific incident and more broadly as a winking way to reference romantic or physical tension between other couples in the villa. Whether it becomes a recurring phrase for the remainder of the season remains to be seen, but it has already generated plenty of discussion across social media platforms.

A Broader Pattern of Reality TV Slang

The “French fries” moment joins a long list of phrases that originated on Love Island and went on to enter wider youth slang vocabulary well beyond the show’s own fanbase. One widely circulated example is “menty b,” shorthand for “mental breakdown,” which was popularized by the British version of the dating show and is often said in a British accent regardless of the speaker’s actual nationality.

With the episode continuing to generate significant social media buzz, “French fries” appears positioned to join the growing list of Love Island-coined phrases that briefly dominate fan conversation each season before either fading or, in some cases, working their way into broader internet slang. For now, the term remains tightly associated with the specific moment between Kenzie and Corbin, with fans continuing to debate and meme the phrase across TikTok, Reddit, and X in the days following the episode’s airing.

Shares of two-wheeler and three-wheeler maker Bajaj Auto rose 2% to Rs 10,268 on the BSE on Monday as investors positioned themselves ahead of the June 24 (Wednesday) record date for the company’s largest-ever share buyback programme worth Rs 5,633 crore.

In May, Bajaj Auto’s board approved a proposal to repurchase up to 46.94 lakh shares with a face value of Rs 10 each, representing 1.68% of its total paid-up equity capital. The buyback, with a maximum size of Rs 5,633 crore, will be carried out through the tender route at Rs 12,000 per share, a premium of over 19% to the stock’s previous closing price.

Also read: Bajaj Auto nears record date for Rs 5,633 crore share buyback at 19% premium. Should you participate?

Bajaj Auto buyback history

The proposed buyback follows the company’s Rs 4,000 crore share repurchase programme in 2024, which was conducted at Rs 10,000 per share. A share buyback is a corporate action through which a company purchases its own shares from existing investors, generally at a premium to the prevailing market price.

Should you participate?

For investors who do not currently own Bajaj Auto shares, the buyback by itself should not be the sole reason to buy the stock, said Harshal Dasani, Business Head at INVasset PMS. He noted that investment decisions should primarily be based on the company’s business prospects and valuation. However, for existing shareholders, participation in the buyback can be worthwhile given the mechanics of the reserved category.”The buyback typically comes at a premium to the prevailing market price, with retail shareholders (those holding shares worth up to Rs 2 lakh) sitting in a reserved category that historically sees acceptance ratios close to 100% of tendered shares,” Dasani said.

Under SEBI regulations, 15% of the total buyback size must be reserved for small shareholders. According to a research report by Anand Rathi, this translates into approximately 7.04 lakh shares worth Rs 844.92 crore at the buyback price being set aside for shareholders holding shares worth up to Rs 2 lakh on the record date.
Read more: Bajaj Auto’s Rs 5,633 crore share buyback at 16% premium: Key things to know
The company has not yet disclosed the entitlement ratio for the buyback. Based on the buyback price of Rs 12,000 per share, a small shareholder can acquire a maximum of 17 shares and remain eligible for the reserved category, estimated Sunny Agrawal, Head of Fundamental Research at SBI Securities.
“Assuming an acceptance ratio of 55%, 9 shares will get accepted for buyback at Rs 12,000/share. The remaining 8 shares will remain with the investor,” he said. Assuming the market price remains unchanged at Rs 10,000, the overall return on investment would be nearly 10.6%, according to the analyst.

“The return potential can be higher if the stock gains from the CMP of Rs 10,000, as well as if the acceptance ratio is higher.

Bajaj Auto shares have gained 22% over the past one year.

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