SYDNEY — Shares in Australian shipbuilder Austal Ltd surged more than 17% Tuesday after the company disclosed that South Korea’s Hanwha Group had offered to buy its United States operations for up to $1.2 billion, as the defense conglomerate looks to deepen its push into the American shipbuilding market.

The stock closed up 17.45% at $4.51, after touching an intraday high of $4.59, on volume of more than 10.3 million shares, giving the company a market capitalization of approximately $1.9 billion. The move marked Austal’s best intraday jump since mid-February and made it the top gainer on the benchmark ASX 200 index for the session.

Hanwha Defense USA offered to acquire Austal’s U.S. entities and operations for between $1.05 billion and $1.20 billion, according to the company’s disclosure. Austal’s board said the proposal deserved further evaluation and granted Hanwha a four-week due diligence period to firm up its offer, while cautioning there was no certainty the process would ultimately result in a completed deal.

Austal specifically noted that the proposal did not include any publicly traded shares in Austal itself, nor any of its core Australasian shipbuilding operations, meaning the company’s Australian defense manufacturing business and broader ASX-listed structure would remain intact regardless of the outcome of discussions over the U.S. unit. The company said its sovereign shipbuilding mandate and high-performing Australasian business would continue to generate value for shareholders independent of any transaction involving its American operations.

Hanwha already holds a substantial stake in Austal through a combination of direct share ownership and a cash-settled equity swap arrangement. Austal said Hanwha owns a 9.9% direct stake in the company alongside a swap arrangement covering a further 9.9%, effectively giving the South Korean group economic exposure to roughly one-fifth of Austal’s total shares outstanding. Hanwha increased its position from an initial 9.9% stake after receiving approval from Australian Treasurer Jim Chalmers in December 2025, following a review by the country’s Foreign Investment Review Board. That approval was granted subject to conditions governing Hanwha’s access to and storage of sensitive information, as well as restrictions on its board nominations.

Because the current proposal is centered on Austal’s U.S. operations rather than the parent company or its Australian assets, the potential transaction would not require scrutiny from Australia’s foreign investment regulator, according to reporting on the disclosure. Instead, the deal would need to clear a separate set of approvals from U.S. government agencies, given Austal’s extensive contracts with the U.S. Navy and the sensitive nature of its shipbuilding programs for the American military.

Alongside news of the offer, Austal disclosed that its U.S. business was expected to post an operating earnings loss of roughly 175 million Australian dollars for the 2026 financial year, reflecting higher losses on its shipbuilding programs. That would leave the broader Austal group with an operating loss of approximately 113 million Australian dollars for the year, compared with earnings of 113.4 million Australian dollars a year earlier. Despite those losses, the company said it retained a robust balance sheet, with cash at bank of 312 million Australian dollars as of June 30 and a net cash position of 185 million Australian dollars.

Hanwha’s offer follows its 2024 acquisition of the Philly Shipyard in Philadelphia, a deal that marked the South Korean conglomerate’s initial entry into U.S. commercial shipbuilding and signaled its broader ambitions to expand within the American defense manufacturing sector. A spokesman for Hanwha Defense USA said the company has made it a priority to significantly contribute to revitalizing American shipbuilding and is exploring a range of options to expand its footprint in the United States.

The offer for Austal’s U.S. unit comes as Australia pursues a broader military modernization push amid heightened tensions in the Indo-Pacific region, including concerns tied to Taiwan and the South China Sea, a backdrop that has drawn growing international interest toward Australian defense contractors and shipbuilders. Austal, considered Australia’s largest shipbuilder, designs and constructs vessels for both commercial and military customers, including long-running contracts to build littoral combat ships and other vessels for the U.S. Navy through its Alabama-based operations.

Austal is scheduled to release its full 2025-26 financial year results on August 29, a report that is likely to provide further detail on the performance of both its U.S. and Australasian operations as the due diligence period with Hanwha proceeds. Hanwha has not yet publicly commented further on the specifics of its offer beyond the initial disclosure.

With the four-week due diligence window now underway, investors are likely to watch closely for further updates on the negotiations in the coming weeks, particularly given the regulatory complexity involved in any transaction covering sensitive U.S. defense shipbuilding assets. Tuesday’s sharp share price reaction reflected significant investor optimism that a deal, if finalized, could unlock substantial value from Austal’s struggling U.S. operations, even as the company emphasized that its core Australian business would remain unaffected by the outcome.

Mat Ishbia made a fortune by running the largest mortgage lender in the country. He used his wealth to buy the NBA’s Phoenix Suns for $4 billion in cash and to build a mansion in Michigan with a trampoline park and rock-climbing wall.

The businessman surprised investors last week when he revealed that an ill-timed wager had left his company, United Wholesale Mortgage, with a $600 million hole. The Pontiac, Mich., company said it was suspending its common-stock payouts and getting financing from Oaktree Capital Management, a lender to distressed companies. Shares tanked 35%, leaving them down about 70% this year.

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Shares of Aarti Pharmalabs extended their post-earnings rally, gaining 33.4% over two days to trade at Rs 896.05 during Tuesday’s session. The stock has risen after the company reported strong June-quarter results, with consolidated profit surging 65.4% year-on-year and revenue increasing 38.7%.

Strong revenue and profit growth drive earnings

Aarti Pharmalabs reported consolidated revenue from operations of RS 535.79 crore for the quarter ended June 30, 2026, marking a 38.7% year-on-year increase compared to RS 386.19 crore in the corresponding period of the previous year. Total consolidated income reached RS 536.25 crore, up from RS 386.96 crore a year ago.
Consolidated net profit after tax (PAT) jumped 65.4% year-on-year to RS 76.14 crore against RS 46.03 crore reported in Q1 FY26. Basic earnings per share (EPS) expanded to RS 8.40 from RS 5.08 in the base quarter. Profitability was further supported by a turnaround in its joint venture, Ganesh Polychem Limited, which contributed RS 7.41 crore to the net profit share compared to a loss of RS 1.80 crore in the same period last year.

RS 149-crore capex plan for CDMO expansion

Alongside earnings growth, investor confidence received a boost from the Board of Directors approving a capital expenditure plan of RS 149 crore to construct a new Intermediate Block. The facility will add 405 KL of manufacturing capacity to meet rising demand from contract development and manufacturing organization (CDMO) partners and intermediate clients.
The expansion project is targeted for completion within one year and will be funded through a combination of internal accruals and borrowings.

Board restructuring and leadership transition

The board also approved restructuring of its senior leadership, taking effect from October 1, 2026, subject to shareholder approval. Shri Rashesh C. Gogri will transition from Non-Executive Director to Managing Director, while Smt. Hetal Gogri Gala will move from Managing Director to Executive Director.
Following the board changes, the company reconstituted key governance bodies, including the Audit Committee, the CSR Committee, and the Stakeholders Relationship Committee.

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

Forget drug pipelines and clinical trials. These days, every healthcare trader has to be a part-time AI specialist just to keep up. That’s because what matters most to large-cap pharma and health insurance stocks right now is the momentum of the artificial-intelligence boom.

For years, healthcare and semiconductor stocks weren’t particularly tied to each other. They would sometimes drift in the same direction, but the relationship was loose. That changed in recent months, with the VanEck Semiconductor Exchange-Traded Fund (SMH) and the State Street Health Care Exchange-Traded Fund (XLV) moving into negative correlation, according to FactSet data. In other words, they increasingly go in opposite directions: when chips sell off, healthcare has tended to catch a bid. 

Intercontinental Hotels Group saw overall growth slow

The owner of Holiday Inn has seen revenues at its Middle Eastern operations take a significant hit as the Iran conflict hit the region’s tourism sector.

Intercontinental Hotels Group (IHG) revealed its revenue per available room in the Middle East fell by 19 per cent in the three months to June, following a two per cent decline in the preceding quarter.

The fallout from the Iran conflict dented the group’s overall revenue across its Europe, Middle East and Asia region, with growth slowing sharply from 5.6 per cent in the first quarter of this year to just 0.6 per cent in the second.

IHG, which also owns the Crowne Plaza and Vignette Collection hotel brands, warned shareholders that it is contending with “ongoing impacts from the Middle East conflict, including some wider disruption to international travel flows”.

However, the group noted that the Middle East accounts for just five per cent of its global market. “We continue to expect these [impacts] to be fully offset by growth in demand elsewhere,” it stated, as reported by City AM.

“This demonstrates the strength of IHG’s business model which is strategically diversified and resilient,” said Elie Maalouf, IHG’s chief executive.

IHG reported a welcome trading uplift from the FIFA World Cup this summer, which contributed one per cent revenue growth to its performance in the Americas region in the three months to June. The hotels group has witnessed its US market growth gather pace in recent months, climbing from 3.6 per cent in the first quarter to 5.4 per cent in the second.

“This uptick reflected supportive trading conditions across all demand drivers as a result of a stronger US economy,” the firm said.

In the three months to June, the FTSE 100 firm recorded revenue growth of 3.1 per cent in the UK, 2.3 per cent across continental Europe and six per cent in East Asia and the Pacific.

IHG saw total revenue climb seven per cent to $1.3bn (£928m) in the year to June, while pre-tax profit dipped nine per cent to $578m (£428m).

The group achieved record levels of new site development in the first half of this year, with close to 200 hotel openings during the period. IHG currently operates 7,100 hotels across the UK, with a further 2,400 in the pipeline.

IHG revealed it is channelling significant investment into AI, reporting an eight per cent rise in gross costs to $12m over the past three months, attributing the increase to its expanding use of the technology in back-office functions as well as across its websites and apps.

Shares in the group dropped 2.5 per cent to 151p in early trading.

Mars Bars are made by US company Mars, Incorporated.

The manufacturer also owns several other chocolate brands including Celebrations chocolate tubs, Galaxy, Hotel Chocolat, M&Ms and Maltesers.

It also owns non-chocolate brands including Dreamies, Hubba Bubba, Pedigree and Whiskas.

The company was founded in 1883 by Frank C Mars, from Minnesota, with his mother Elva teaching him how to hand-dip chocolate.

Mars Bars were first made by hand in Slough, Berkshire in 1932 and are still made in the town.

A Mars spokesperson said: “Over the last 35 years, we have made a number of updates to our bar sizes and pack formats to reflect consumer demand, alongside considering wider external factors such as manufacturing costs and the price of cocoa.”

SEOUL — South Korea’s benchmark Kospi index climbed further Tuesday, extending a rebound from last month’s steep selloff as strong gains in Samsung Electronics and other chipmakers lifted the broader market.

The Kospi rose 0.73%, or 45.87 points, to close at 6,345.53, according to trading data. The index opened at 6,240.06, touched an intraday high of 6,405.81 and dipped to a low of 6,213.78 before settling higher for the session. Trading unfolded in a quieter regional backdrop, with Japanese markets closed Tuesday for the Mountain Day public holiday.

Samsung Electronics led the advance, with shares climbing 4.13%, while SK Hynix also edged higher as investors continued rewarding the country’s dominant memory chip producers. The gains extended a broader rebound in Korean chip stocks, which have remained a central focus for investors throughout 2026 amid strong global demand for memory chips tied to artificial intelligence infrastructure spending.

SK Hynix disclosed progress on its next-generation DRAM research and development efforts, saying it had integrated extreme ultraviolet lithography upgrades and new materials into its production process following the company’s adoption of High-NA EUV equipment, a more advanced lithography technology used to manufacture smaller, more powerful memory chips. The announcement added to investor optimism around the company’s ability to maintain its competitive position in the global memory chip market.

Separately, the South Korean government said it plans to legislate so-called “super special zones” within the next year to support large-scale industrial projects, including semiconductor clusters, a move aimed at bolstering the country’s competitive standing in the global chip supply chain. The announcement was seen as part of a broader push by Seoul to support the domestic semiconductor industry amid intensifying global competition for chip manufacturing investment.

Tuesday’s gains build on a recovery that has taken hold in recent sessions following a punishing stretch for Korean equities last month. The Kospi suffered a roughly 22% wipeout in July, its worst monthly performance since 2008, driven in part by a sharp unwind of leveraged trading positions tied to major chipmakers. That selloff followed an extraordinary run earlier in the year, during which the index doubled in value over just a few months, climbing from around 5,000 to more than 9,000 points at its peak in June, a rally driven almost entirely by explosive gains in memory chip heavyweights Samsung Electronics and SK Hynix.

Market analysts have said the most severe phase of that turmoil appears to have passed, with forced liquidations of leveraged positions largely working their way through the market in recent weeks, helping stabilize volatility even as the index remains well below its June peak. The Kospi’s 52-week high stands at 9,385.59, reached on June 19, underscoring the scale of the pullback that followed the market’s summer volatility.

Even with the recent turbulence, the Kospi remains dramatically higher than year-ago levels, reflecting the extraordinary scale of this year’s rally in Korean equities even after last month’s sharp correction. Goldman Sachs has maintained a bullish long-term outlook on Korean stocks despite the recent volatility, with the bank’s strategists citing a memory chip supercycle driven by record shortfalls in chip supply, strong demand from hyperscale data center operators, and continued growth in artificial intelligence computing needs as key drivers of further potential gains.

Tuesday’s session also came against a backdrop of anticipated monetary policy tightening in South Korea. The Bank of Korea’s outgoing deputy governor said Tuesday that the central bank is likely to raise interest rates further in response to persistent inflationary pressures, a signal that could shape investor expectations heading into the bank’s coming policy decisions.

Elsewhere in the region, broader Asian equity markets showed a mixed picture Tuesday, with some markets tracking Wall Street’s recent strength while others, including South Korea’s Kospi and Singapore’s benchmark index, led gains as investors weighed the interplay between technology-sector momentum and shifting expectations around global monetary policy. On Wall Street, major U.S. indexes closed mostly lower Monday, with the S&P 500 slipping slightly, the Dow Jones Industrial Average dipping modestly and the Nasdaq Composite falling further, even as the broader market remained near record territory following a strong run over the preceding weeks.

South Korean equities have drawn particular international attention this year given the scale and speed of both the rally and subsequent correction in chip-heavy names, a dynamic that has drawn comparisons to historic market run-ups, including the technology-driven Nasdaq rally that preceded the dot-com crash in the late 1990s. Despite last month’s sharp pullback, the semiconductor sector has continued to anchor sentiment toward the broader Korean market, with Tuesday’s gains in Samsung Electronics and SK Hynix reinforcing the extent to which chip stocks remain the primary driver of the Kospi’s day-to-day performance.

Looking ahead, investors are likely to continue monitoring developments in the global memory chip market, along with any further policy signals from the Bank of Korea regarding the pace and timing of potential interest rate increases. With the government’s newly announced semiconductor cluster initiative still in its early legislative stages, market participants are also expected to watch for further details on how the plan might translate into concrete support for the country’s chip industry in the months ahead.

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One of the biggest problems when planning a long road trip or a getaway with family and friends is often that people have limited space.

Inside a regular car, luggage, camping gear, outdoor equipment, and all the other items that you need for travel can fill up the space very fast. Excessive weight in the passenger compartment can make it harder for you to ride comfortably in the vehicle, can make it more difficult to see behind you, and can make riding more hazardous on the road. For those who travel often, it is important to find a practical solution that will allow them to maximize the space they have while keeping their passengers comfortable.

When you use the space above your car, it’s an easy and very effective way to upgrade your vehicle’s carrying capacity. When goods and equipment are taken on board, dedicated storage areas under the driver’s seat can be installed using high-quality, trusted cargo carriers from providers like Roof Boxes UK, giving the driver the ability to carry large items comfortably and maintain a spacious, organized cabin. Modern cargo containers are designed to shield your goods from the elements, plus keep your vehicle steady on the highway, by means of the use of aerodynamics and tough materials.

Why Vehicle Storage Solutions Matter for Modern Travelers

Car interiors are all about comfort and safety, but they are not necessarily built for long journeys. When you have so much in the trunk, it can be a challenge to organize it properly, to prevent damage to fragile goods, and to avoid unnecessary stress when loading and unloading. The moment you load an unneeded, heavy object into an outside carrier, you alter the entire automobile travel experience for anybody in the vehicle.

Improved Passenger Comfort

Bags and equipment stacked on empty seats or stacked to the ceiling leave passengers with little room to move around and little legroom. Cleaning up the cabin allows everyone to have a bit of privacy while driving for extended periods of time without being suffocated.

Enhanced Safety and Visibility

When a vehicle is too full, the driver may not be able to see out of the rear window. The outside mounting of the gear ensures that you have a clear view and can keep an eye on traffic around you. Also, things that are too loose in the vehicle may pose a risk during sharp turns and sudden stops.

Weather Protection for Expensive Equipment

High-grade external boxes are manufactured with impact-resistant and weather-sealed materials. From driving through torrential rain, scorching hot sun, to snowfalls, your sports gear, sleeping bags, and luggage stay completely dry all the way to the finish line while you’re on the road.

Key Factors to Consider Before Choosing Storage Equipment

Not every travel accessory can fit every car or travel type. To make the most of the purchase, there are a number of factors that need to be considered.

Vehicle Compatibility and Roof Rack Requirements

Your car should have appropriate crossbars or a roof racking system before you install any storage rack. Refer to your vehicle manufacturer’s user manual for the dynamic load capacity, the weight that the roof of the vehicle is able to hold while the vehicle is moving.

Size, Volume, and Shape

Storages are available in a number of different sizes and shapes, usually in liters. A long and narrow shape is best for transporting long items such as skis, snowboards, and fishing rods. A broader and middle-sized container is more functional for general family bags, handbags, and camping gear.

Aerodynamics and Fuel Efficiency

The more volume you put on top of your car, the more air resistance there will be. By selecting a sleek, aerodynamic profile, wind noise will be kept to a minimum inside the vehicle and the drag will be reduced, directly aiding in keeping fuel consumption at an optimum level when driving on the highway for extended periods.

Essential Steps for Preparing and Loading Cargo

For a hassle-free journey, here are some key steps to follow to prepare, balance, and properly secure additional storage equipment before embarking on your trip:

• Check the mounting components. Ensure that all brackets, bolts, and locking systems are firmly in place and level on the roof bars.
• Distribute weight evenly. To balance the load, put the heaviest objects in the center over the cross bars, and lighter ones at the front or back of the container.
• Respect weight limits. Do not exceed the maximum weight capacity as recommended by the vehicle manufacturer, or the roof load rating of the carrier.
• Tie up anything that could fall out. Install internal tie-down straps or cargo nets in the box to keep gear from shifting during braking and/or cornering.
• Lock up the container before getting in the vehicle. Make sure dual-side locking mechanisms are set and check the key mechanism before starting your engine.

These are the basic preparation steps to ensure your luggage is secure and your car handles safely in every driving scenario.

Smart Driving Tips with Overhead Equipment

Driving a vehicle with additional height and weight requires slight adjustments to your standard driving habits. Being mindful of these changes ensures a safe and trouble-free trip.

Watch Clearance Height

The total height of your car increases significantly once roof accessories are installed. Always take note of the new clearance measurement before entering low-clearance areas such as underground parking garages, drive-thrus, covered bridges, or toll booths.

Adjust Speed in High Winds

Crosswinds can affect high-profile vehicles more noticeably when an overhead box is attached. Reduce your speed slightly when driving across open bridges or coastal roads during windy conditions to maintain steady control over the steering wheel.

Perform Routine Checks During Stops

During long journeys, make it a habit to check the mounting points every time you stop for fuel or a rest break. Temperature changes and road vibrations can occasionally loosen tension, so a quick physical check provides peace of mind for the remainder of the trip.

Final Thoughts

Investing in dedicated car storage gear is one of the most practical upgrades any motorist can make for road travel. It resolves space limitations, improves passenger comfort, and protects your belongings against unpredictable weather conditions. By selecting the right size, loading your gear strategically, and practicing cautious driving techniques, you can enjoy stress-free journeys wherever the road takes you.