Accenture’s latest quarterly earnings have reignited concerns over whether artificial intelligence is beginning to reshape the global IT services industry. While the consulting giant delivered a solid financial performance, a sharp decline in new bookings and a reduction in guidance have raised fresh questions about the pace of enterprise technology spending.

According to market expert, Sandip Agarwal from Sowilo Investment Managers, the headline numbers were largely in line with expectations, but the drop in order inflows deserves close attention.

“I see Accenture’s numbers in three parts. First, the reported numbers show no disappointment. Second, bookings are down 14.7%. Managed services performed slightly better, but the decline is unexpectedly sharp, which is definitely a negative read-through. Third is the guidance cut. I do not read too much into it because, excluding the Federal Reserve-related impact, you have to align your growth accordingly,” he said.

AI Yet to Be Blamed Officially

Despite widespread speculation, Accenture has not directly attributed weaker bookings or lower guidance to artificial intelligence. Agarwal believes that is an important distinction.

“The current quarter’s numbers are good, so there is no negative surprise. AI has not been mentioned as the reason for softer bookings or the guidance cut. That is a positive read-through,” he said.
However, he acknowledged that the steep decline in order bookings cannot be ignored.
“The order book is materially lower. A 15% year-on-year decline is substantial. The deflationary impact of AI, which we expected, will likely continue for another quarter or so. After that, the industry should have a better base from which to grow,” he added.
Limited Impact Expected on Indian IT
While Accenture’s stock reacted sharply to the results, Agarwal believes the implications for Indian IT companies could be less severe than many investors fear.

He noted that Accenture has historically grown at a slower pace than Indian IT firms and expects domestic companies to remain relatively resilient.

“Accenture’s growth rate has always been 2-3% lower than Indian IT growth. I do not see a material impact on current analyst forecasts for Indian IT. There may be a stock rub-off effect because Accenture fell sharply, but from an operational perspective, Indian IT should be in a much better position from this quarter.”

Why Indian IT Could Stay Resilient
Agarwal also pointed out that Indian IT companies have a different geographical exposure compared to Accenture, making them less vulnerable to some of the current global uncertainties.

“Indian IT companies do not have the same level of exposure to West Asia as Accenture. We are more exposed to Europe and the US, and I do not see those regions showing a significant slowdown yet,” he said.

He added that discretionary spending remains under pressure due to several macroeconomic concerns.

“Discretionary spending is low because of uncertainty over the war, corporate earnings, interest rates, and AI. There is also a lot of euphoria around AI, which is drawing investment toward that space,” he added.

A Buying Opportunity Despite Near-Term Pain?
While acknowledging that the sector could witness another quarter of weakness, Agarwal believes current valuations already reflect much of the pessimism.

“Right now is probably the time to buy. Hardware spending has already seen a strong upcycle. AI platform providers like Microsoft and Grok should continue to do well, and IT services are now entering the next phase,” he said.

He expects concerns around AI replacing traditional IT services to fade over time.

“There could be one more quarter of pain. People will talk about the death of IT, but I remain optimistic given current valuations. It is a lower-growth industry now, but even lower growth deserves a minimum valuation multiple,” he said.

Looking ahead, he remains constructive on the sector’s earnings outlook.

“We see EPS growth of 50% to 70%, depending on the company. Even if valuation multiples remain unchanged, that can still deliver very attractive returns over the next two to three years.”

Blake Lively and Ryan Reynolds are facing a new kind of fallout tied to their sprawling New York estate — not over box office numbers or movie sets, but over a string of unpaid contractor bills that left the couple facing more than $2 million in property liens and, according to entertainment industry sources, a reputational problem within the small, tightly networked world of high-end construction.

The Liens, By the Numbers

Blake Lively and Ryan Reynolds’ upstate New York property was hit with more than $2.1 million in unpaid contractor debt, according to a Daily Mail report. Westchester County filings showed five separate contractors and subcontractors filed mechanic’s liens against the property in April 2026. According to official records reviewed by the publication, the outstanding claims totaled exactly $2,108,856.63. TMZ confirmed the existence of the liens against the property.

The 110-acre estate was purchased through an LLC beginning in 2018. The luxury compound has reportedly been under construction for years and was supposed to include a 14,500-square-foot main home, pool house, gym, geothermal systems, and other high-end features.

What the Liens Cover

The unpaid claims spanned a wide range of specialized construction work. A group of four additional contractors filed claims regarding technical aspects of the estate’s development. These filings sought outstanding payments for custom copper roofing, complex drainage and septic systems, geothermal excavation, and structural steel fabrication. Detailed finish work, such as rough carpentry and trim installation, was also cited in the unpaid claims.

One construction company alone filed a claim for more than $1.35 million tied to work including framing, plumbing, HVAC, electrical, drywall, and masonry.

A Project That Quietly Ground to a Halt

County records paint a picture of a high-profile construction project that slowed dramatically and then stopped entirely over the course of several months. County records indicate that while construction activity on the site was consistent throughout late 2025, all work effectively ceased between December 2025 and early 2026. The liens were subsequently filed in April 2026.

The project is reportedly stalled, with construction believed to have slowed late last year before stopping entirely sometime around late 2025 or early 2026. Construction reportedly came to a halt after significantly slowing down from late 2025 before being completely stopped in early 2026.

The timing has drawn attention given the couple’s other ongoing legal entanglements. The timing is also raising eyebrows because the couple had spent months battling through Lively’s legal dispute with Justin Baldoni tied to “It Ends With Us,” which ultimately ended in a settlement that included no monetary payment. The property liens arrived immediately following that high-profile legal battle between Lively and her “It Ends With Us” co-star.

Bills Reportedly Settled, but Reputational Fallout Lingers

According to subsequent reporting, the couple has since resolved the outstanding contractor claims, even as industry sources suggest the episode has left a lasting impression among builders. Entertainment columnist Rob Shuter reported in his Substack newsletter that while the couple has resolved $2 million in contractor claims, they appear to have lost the trust of builders and subcontractors who may now think twice before bidding on future contracts for the couple’s project.

A source close to the construction industry, cited in that reporting, characterized the significance of contractors needing to resort to filing liens just to be paid. “Contractors had to file liens to get paid. That sends a message, and it’s not one the industry forgets,” the source said.

Additional anonymous sources quoted in the reporting described a shift in how contractors are now approaching potential work with the couple. One source said simply, “Nobody wants to be chasing millions of dollars months down the road.” Another characterized the apparent new posture among builders as “cash up front, then we’ll talk.”

A separate insider offered a more pointed assessment of the situation, telling the outlet that “people aren’t lining up for this job anymore.” That source added that while the money to complete the project is clearly available, “the trust isn’t.”

Another source pushed back specifically on the idea that affordability was ever the core issue, telling the outlet that the couple can clearly pay to finish the house, and that “the issue is confidence.”

A Tight-Knit Industry Where Reputations Travel Fast

The broader characterization offered across multiple reports centers on construction’s reputation as an unusually close-knit professional community, where word about payment disputes tends to circulate quickly and stick to a name for years. One source described construction as “a very small world,” where people in the trade are known for talking — and where a name once tied to payment trouble tends to remain associated with it long after any individual bill has been settled.

According to that same reporting, some contractors are reportedly skipping the project altogether, while others are demanding larger upfront deposits and firmer guarantees before agreeing to take on any further work tied to the estate.

The Couple’s Vision for the Property

The couple purchased the sprawling New York estate back in 2018, which came with plans for the 14,500-square-foot main house, a pool, and geothermal heating systems. Lively has previously said that the local community is “heaven” and that she and Reynolds could not wait for construction to start.

That original enthusiasm for the property stands in contrast to the protracted construction delays and financial disputes that have since emerged, transforming what was once described as a long-anticipated dream home into a source of ongoing legal and reputational complications.

No Public Response From the Couple

Neither Lively nor Reynolds has publicly addressed the contractor debt claims. Their representatives have likewise not issued any public comment regarding the liens, the subsequent settlement of those claims, or the reported fallout within the construction industry that has followed.

What Happens Next

With the underlying $2.1 million in contractor debt reportedly resolved, the more lingering question is whether the couple’s stalled estate project can attract the skilled labor needed to actually finish construction, given the reputational concerns now circulating among contractors in the region. For a project that has already spanned the better part of a decade since the property was first acquired in 2018, the latest setback adds yet another layer of uncertainty to when — or whether — the ambitious 110-acre compound will ultimately be completed as originally envisioned.

Dr. Bill Conerly connects the dots between the economy and business decisions. He has the unique combination of a Ph.D. in economics from Duke University and over 30 years’ experience helping companies adapt to changing economic conditions. He has worked in economics and corporate planning at two Fortune 500 corporations and at a major bank, where he was senior vice president. He has earned the Chartered Financial Analyst (CFA) designation.   Companies have used Dr. Conerly’s expertise to help with decisions regarding capital expenditures, inventory levels, expansion into new markets, pricing, business models and financial structure. Dr. Conerly is an on-line contributor to Forbes.com and the author of The Flexible Stance: Thriving in a Boom/Bust Economy (2016) as well as Businomics (2007). He had been interviewed on the News Hour with Jim Lehrer, CNN and CNBC. He has been quoted in the Wall Street Journal, Fortune Magazine, and USA Today.

NASHVILLE, Tenn. — Tay Keith, the Grammy-nominated record producer whose thunderous trap beats powered some of the biggest hip-hop hits of the past decade, was found dead Thursday afternoon in his Nashville apartment, police confirmed. He was 29.

According to the Metro Nashville Police Department, Brytavious Chambers — also known as Tay Keith — was found deceased inside his Martin Street apartment after officers were called to conduct a welfare check. Police said no foul play is suspected in the prolific hitmaker’s death. The MNPD stated that Chambers’ death will remain “unclassified” pending the results of an autopsy.

A Career Built From Memphis to the Top of the Charts

Born Brytavious Lakeith Chambers on September 20, 1996, in Memphis, Tennessee, Tay Keith built one of the most successful production careers in modern hip-hop, working with an array of the genre’s biggest names. Keith worked with music’s biggest stars, including Beyoncé and Drake, and his career included four No. 1 records on the Billboard Hot 100, a remarkable run of commercial success for a producer who first broke through while still in college.

Known for his trap-laden production, the Memphis hitmaker enjoyed tremendous success on the Billboard Hot 100, earning 11 top 10 hits and four No. 1 records, including Travis Scott’s “Sicko Mode” and Drake’s “First Person Shooter.” Keith held the record for the most No. 1s on the Hot R&B/Hip-Hop Songs chart this decade, with six.

Chambers is best known for co-producing Travis Scott’s 2018 single “Sicko Mode,” which peaked atop the Billboard Hot 100, as well as Drake’s “Nonstop,” BlocBoy JB’s “Look Alive,” and Eminem’s “Not Alike,” which peaked at numbers two, five, and twenty-four on the chart, respectively. His 2023 single, “Pound Town” with Sexyy Red, marked his first entry on the chart as a lead artist.

Breaking Through With “Sicko Mode” While Still in School

Keith’s defining career moment came while he was a student at Middle Tennessee State University, where he produced what would become one of the most influential hip-hop singles of the 2010s. He was nominated for a Grammy in 2018 for his work on Travis Scott’s “Sicko Mode,” which he helped produce while attending Middle Tennessee State University. The Memphis producer was nominated for Best Rap Song for “Sicko Mode” by Travis Scott, Drake, Big Hawk, and Swae Lee in 2019, along with “Rich Flex” by Drake and 21 Savage in 2024.

Keith spoke openly about the dedication required to balance his rapidly accelerating music career with his commitment to finishing his degree. “There wouldn’t be any point for me to come to college if I didn’t want to finish it — I could have just focused 100% on music,” Keith told MTSU. “By my last week of college, I had my first No. 1 single, so it didn’t make any sense to drop out.”

He described one particularly demanding stretch during that period. “I remember having a flight from New York, and I had a test the same day,” Chambers told MTSU. “So, I flew back from New York that morning, went home, then went straight to class. It was crazy. But if I knew that I could do that, then there wasn’t anything stopping me but myself.”

According to MTSU, Chambers graduated from the school in December 2018 with degrees in integrated studies and media management.

Recognition and Accolades

Keith’s rapid ascent in the music industry earned him formal recognition from multiple outlets covering the business side of the entertainment world. He was among those included in Forbes’ 30 Under 30 Music list in 2025, earning the listing alongside Cambrian Strong for their Drumatized record label. “At 23, Tay Keith became a Grammy-nominated producer for his work on Travis Scott’s ‘Sicko Mode,’ adding to his roster of clients like Cardi B, Eminem and music’s ‘Queen B’ Beyoncé,” the Forbes listing said. Forbes also noted that he was awarded producer of the year at the BMI Awards in 2024.

A Champion for Memphis Artists

Beyond his own chart success, Keith played a significant role in elevating a generation of artists from his hometown. Keith also played a vital role in uplifting a generation of Memphis artists, including BlocBoy JB and Black Youngsta. In 2018, he produced JB’s biggest Hot 100 hit, “Look Alive.” The Drake-assisted single peaked at No. 5 on the chart and helped introduce both artists to a wider audience. In the early 2020s, he also helped launch Sexyy Red’s career with her breakout single “Pound Town.”

He also produced “Look Alive” by Drake and Memphis rapper BlocBoy JB, a song that shouts out Memphis with the lyric referencing Shelby Drive, a known street in the city, cementing the track’s status as a hometown anthem alongside its commercial success.

Tributes Pour in From the Music Community

News of Keith’s death prompted an immediate and emotional response from collaborators and friends across the music industry, many of whom had worked alongside him for years. Following news of Keith’s passing, BlocBoy JB shared his shock and grief across Instagram Stories, posting photos of the pair as teenagers alongside a screenshot of their call history captioned: “We talked every day. Yeen tell me you was leaving.” JB had revealed that the pair had been speaking on the phone every day in the lead-up to Keith’s sudden death.

Fellow Memphis producer Hitkidd also expressed his disbelief, posting a photo of himself and Keith on Instagram. Memphis Mayor Paul Young posted on Facebook, “Rest in peace, Tay Keith,” accompanied by a picture of himself with the producer.

A Final Public Post

In a poignant final glimpse into his work, Keith’s last public social media activity reflected the same passion for music-making that had defined his entire career. His last post on Instagram, dated May 7, was an announcement promoting Chris Brown’s latest song, “Call Your Name,” which features Sexyy Red and GloRilla — continuing his pattern of championing the artists and collaborators he worked with up until the final weeks of his life.

A Devastated College Community

Keith’s connection to Middle Tennessee State University remained a defining part of his public identity even as his career soared to international prominence. The university’s community expressed profound grief over his death, with one segment describing the school as “shattered and devastated” by the news. Much of his early professional success was built alongside fellow MTSU graduates, including his longtime stylist and creative director, Tyland Jackson, who graduated from the university in 2019, and his public relations director, Nicholas Brownlow, who graduated that same year.

What Comes Next

Authorities have not released additional details regarding the circumstances of Keith’s death, and his official cause of death remains pending the results of a forthcoming autopsy. No additional details about Chambers’ death have been immediately released by police.

Keith leaves behind a discography that reshaped the sound of mainstream hip-hop production throughout the late 2010s and early 2020s, with his distinctive, bass-heavy trap influence audible across some of the genre’s most commercially dominant tracks. His sudden death at 29 has left collaborators, fans, and the broader music industry grappling with the loss of one of the decade’s most influential — if often unseen — architects of modern hip-hop’s biggest hits.

Global markets continue to shrug off macroeconomic uncertainties, buoyed by optimism surrounding artificial intelligence and easing concerns over inflation. But David Roche from Quantum Strategy believes investors may be overlooking deeper structural risks that could eventually reshape financial markets.

Speaking to ET Now, Roche discussed the US Federal Reserve‘s latest stance, the AI investment boom, geopolitical developments involving Iran, and the outlook for global technology spending.

Fed’s inflation fight supports market confidence
Roche said the Federal Reserve’s commitment to fighting inflation has strengthened confidence in the US dollar while keeping long-term inflation expectations in check.”People assume that the Fed will continue to fulfil its inflation mandate ahead of anything else. Therefore, interest rates… will not be cut, at least not at the moment… That helps markets because it gives confidence in the dollar.”

AI Boom May Be Unsustainable
While acknowledging AI’s transformative potential, Roche argued that the scale of investment has become excessive and could eventually hurt markets.
“AI is… a bubble. Not because it is not a good product, but because the amount of money being poured into it is not rational and will not be remunerated by profits.”He warned that a correction in AI investments could have far-reaching consequences for both markets and the broader economy.

Oil Relief, But Strategic Risks Remain
Roche said markets are welcoming the resumption of oil flows as lower crude prices would ease inflationary pressures.

“Traders love the oil flowing. The oil prices are going to come down, lower inflation, less increases in interest rates.”

However, he sharply criticised the broader agreement.

“The MoU is a bad, bad, bad deal. It puts Iran in charge of the Gulf… and essentially puts the Iranians… back in the dollar flow.”

Trump’s Priority Is Lower Oil Prices
Asked whether the agreement is effectively an exit strategy for the United States, Roche answered in the affirmative.

“Trump needs this deal because he needs lower oil prices… The Iranians… need the dollars. The reason the deal will hold is because the two parties have a common interest.”

He added that the agreement strengthens Iran’s strategic position despite helping stabilise oil markets.

Inflation Likely to Stay Contained
Roche believes the recent rise in inflation is likely to prove temporary as oil prices ease and the Federal Reserve remains focused on price stability.

“The reason for the oil prices to go up has now been removed. There will be more oil and lower prices… The Fed made it quite clear that they were going to fight any inflation.”

Technology Spending Faces a Reality Check
Commenting on the outlook for the technology sector, Roche said his concern is not with AI itself but with the unprecedented level of capital being committed to it.

“What I see on IT is a great product being financed with complete excesses… We have over a trillion dollars being dedicated to IT.”

He cautioned that the economics behind these investments may ultimately disappoint investors.

“My concern about IT is not that it is not a good product. It is a great product… Nobody is going to pay the amount of money that would have to be paid to actually pay back this capital.”

President Donald Trump said Thursday that Apple has agreed to work with Intel on designing and producing chips in the U.S.

“When I won my Second Term, it was clear America needed its Semiconductor Industry to come back to the U.S.A. We design everything, but we need to BUILD it here, NOW! So I decided to help Intel because we need to design and build our Chips right here in America,” Trump wrote on Truth Social.

The partnership could help Apple diversify its manufacturing base as it looks for additional chip capacity. The tech giant relies heavily ​on the Taiwan Semiconductor Manufacturing Company, which has advanced production ​lines in ⁠high demand from AI chipmakers such as Nvidia and Advanced Micro Devices.

APPLE CEO SAYS PRICE HIKES ARE ‘UNAVOIDABLE’ AS RISING CHIP COSTS SQUEEZE TECH GIANT: REPORT

Intel shares rose in premarket trading following the announcement from the president.

“The Technology the World relies on was invented in America. We all remember ‘Intel Inside.’ Stupid Presidents took our Economy for granted, and let Taiwan and others steal our Semiconductor Factories,” Trump said.

Intel reportedly reached a preliminary agreement to make some chips for Apple after more than a year of talks. Apple and Intel have not publicly detailed which chips or products would be involved.

HOW YOU CAN GET A SLICE OF APPLE’S $250M IPHONE SETTLEMENT

An Apple contract would give Intel steady demand from a top consumer electronics company after its reputation and manufacturing business fell behind TSMC in recent years.

Earlier this week, Intel announced that a new generation of its manufacturing technology, 18A-P, had entered initial production, as the chipmaker works to meet demand for advanced processors.

Last year, the Trump administration took a roughly 10% stake in Intel and announced plans to invest billions of dollars in the chipmaker to build or expand factories in the U.S.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The Trump administration took a roughly 10% stake in Intel last year and announced plans to invest billions of dollars in the chipmaker to build or expand factories in the U.S.

Trump previously said he “should have asked for more” of a stake in Intel after the value of the federal government’s Intel position rose sharply.

“When was the last time a President made America money??” Trump wrote on Thursday.

The administration has been boosting efforts to secure U.S. supply chains for critical minerals and semiconductors, including by taking equity stakes in companies as part of an effort to cut reliance on China.

Reuters contributed to this report.

The pain for backers of a green energy investment trust has deepened after the one-time stock market favourite axed its dividend and pressed ahead with plans to wind itself down.

Shares in SDCL Efficiency Income Trust fell by 11½p, or 25 per cent, to a record low of 34½p on Tuesday after the trust said it would not pay a fourth interim dividend for the last financial year and would suspend future cash distributions.

The move was disclosed alongside the trust’s blueprint for liquidating itself. It warned that it would concentrate on cutting debt and “preserving value” before returning any further cash to investors, in a wind-down that could run for years.

It is a further blow to the green vehicle’s beleaguered backers, who are already sitting on heavy losses and now face wiping out as much as half their money. It also comes after the trust fell into the sights of Saba Capital, the American hedge fund that has been shaking up the usually sleepy world of investment trusts. For readers weighing up the sector, our explainer on how investment trusts have changed the face of UK finance sets out how these vehicles are meant to work, and where the risks lie.

Saba has campaigned aggressively at a string of underperforming trusts for strategy changes and board overhauls since late 2024. With SDCL Efficiency Income Trust, known as Seit, the New York-based fund is understood to have been among the shareholders that opposed an alternative proposal under which the company would have carried on in a different guise. According to the Association of Investment Companies, the industry body, Saba has built positions across dozens of London-listed trusts, pressing boards to hand cash back to shareholders.

The decision to shut up shop is a spectacular reversal of fortune. Seit was once popular with institutional and private investors alike, tapping them for almost £1.2 billion across ten fundraising rounds between 2018 and 2022, including its original listing on the London Stock Exchange eight years ago.

It used the proceeds to assemble a portfolio of environmentally friendly investments, spanning industrial rooftop solar panel systems, LED lighting used in poultry farms and electric vehicle charging stations.

Its share sales were sometimes oversubscribed. Its final placing in September 2022, which raised a bigger than expected £135 million, was priced at 114p a share, more than three times Tuesday’s closing level.

Since then, Seit’s stock has slumped under the weight of higher interest rates and falling valuations for its assets, leaving the shares trading at a yawning discount to net asset value. The trust was valued at less than £400 million by the stock market on Tuesday night. The episode is a reminder of how quickly sentiment can turn, even after a spell when interest rate cuts looked set to revive appetite for green energy investment trusts.

The independent board, chaired by Tony Roper, and the manager, Sustainable Development Capital, had floated the idea of reviving the trust’s fortunes by converting it from a trust into a conventional operating company.

After weighing up feedback, however, the board concluded the plan lacked sufficient support. Saba, which is run by Boaz Weinstein and now holds a 20 per cent stake in Seit, is understood to have been among several investors against it.

The trust said in April that “a significant number of shareholders expressed a clear preference for liquidity” and that it would instead draw up wind-down proposals. It said on Tuesday that the plan, if approved by shareholders at a meeting on 10 July, would see Seit stop making new investments beyond follow-on capital for assets it already owns.

“The board believes that a sale of the entire portfolio, whether to a single purchaser or a small number of purchasers, would likely be the most efficient means of realising value for shareholders,” the trust said. “If a portfolio sale cannot be achieved on acceptable terms, the company will pursue asset-by-asset or grouped disposals.”

Seit warned that the whole process “could take a number of years to complete” and that cutting its borrowings would take priority. Its gearing stood at 71.9 per cent of net asset value at the end of September, above the 65 per cent limit set in its investment policy.

The trust has borrowed about £190 million under a revolving credit facility, and said that only once this had been “significantly reduced” would the board “reconsider its position on paying interim dividends if circumstances allow”.

The retreat caps a torrid 18 months for the closed-ended sector, much of it driven by Saba. The fund recently agreed a three-year truce covering several London-listed funds after a deal over the Herald Investment Trust, as reported by CNBC, though Seit’s collapse shows the pressure on weaker trusts has not let up.

Investors tempted by bargain-basement discounts elsewhere would do well to revisit the basics of how to choose an investment trust company before catching a falling knife.

Saba did not comment.

---