A new report by the Government Accountability Office (GAO) warns Americans’ retirement plans may be sharing or selling personal information that can be used to market financial products and services.

Over 126 million Americans are enrolled in employer-sponsored retirement plans, such as a 401(k) or similar account, with total assets in those plans exceeding $9 trillion, according to the GAO.

Those plans are typically administered by external providers of financial services and the report explained that employers share some personally identifiable information with asset managers, payroll providers and record keepers who manage the investment and processing of contributions.

Personal data that employers may share with those service providers can include information like a birth date, Social Security number, account numbers and balances, as well as other data.

The GAO noted that while service providers can use that data to market financial products and services, they may, in some cases, sell that data to third parties, which can increase the risk of inadvertent exposure.

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GAO’s analysis included a review of privacy disclosures from 31 service providers, of which 29 either explicitly allowed data sharing or didn’t specify whether participant data could be shared for marketing purposes.

Additionally, over half of the financial service providers – 17 of the 31 – didn’t limit their ability to sell participant data to data brokers or other third parties.

It also found that just 12 of the 31 service providers have privacy disclosures allowing plan participants to opt out of data sharing.

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The GAO’s report included a recommendation that the Labor Department provide additional guidance about data privacy for participants in retirement plans for sponsors and service providers.

In particular, GAO said that the labor secretary “should clarify what participant information should be considered private and the circumstances in which service providers should obtain written permission before using or sharing this information.”

“Such guidance could also identify best practices including for providing individual participants with choice, to the extent practicable, about how their personal information may be used, sold or shared,” GAO added.

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The Labor Department provided a response to the GAO’s analysis that said it “fully supports the goal of appropriately protecting the personal information of participants and beneficiaries of plans” though it neither agreed nor disagreed with the report’s recommendations.

The agency noted the GAO report’s discussion of a 2021 guidance on cybersecurity that discussed data privacy as a component of service providers’ fiduciary responsibilities to plan participants, which states that contracts should spell out the provider’s obligation to protect private information.

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The Labor Department’s response added that while it believes the 2021 guidance makes it clear to fiduciaries that they’re obligated to include data privacy considerations in their contracts, as resources permit, the agency will “carefully consider whether supplemental guidance aligned with the recommendation could or should be issued.”

Project designed to help Warrington regeneration

The financial performance of the council’s flagship town centre regeneration scheme Time Square has ‘fallen far short of even the cautious assumptions’ in the business case.

The financial issues facing the cash-strapped council continue to cause concern. According to a scrutiny committee meeting report for its meeting at the end of last month, ‘up to and including’ 2025-26 the council made an overall loss on its commercial programme – excluding treasury management investments – of £134.58 million, with only its loans portfolio making a positive return to the council of £74.88 million over that period.

The council’s commercial portfolio has consisted of the following investments: loans programme, commercial property investments, solar farms, Redwood Bank, Wire Regeneration, Warrington’s Own Buses, Time Square and Together Energy.

The report stated the ‘broader commercial programme’ recorded an overall loss of £134.58 million and ‘capital decline’ of £296.87 million.

It said the Time Square scheme’s objective was to act as a catalyst for town centre regeneration, addressing the lack of a central cinema and family-oriented leisure offer, and to produce a ‘significant financial return’ to the council.

“The financial performance to date has fallen far short of even the cautious assumptions in the business case which has required a circa £5m annual pressure to be funded by the council,” it said.

“The total development cost reached £151.167 million.

“Over its operational period, however, Brexit, Covid-19, the energy price inflation and cost of living crisis significantly affected performance, particularly in the leisure sector.

“Operational delays during 2020 reduced early income streams, and comparing the financial model to actuals from 2020/21 to 2024/25 shows substantial variances.”

Furthermore, it highlighted a need to ‘urgently explore’ the ‘financial arrangements and treatment’ of the Time Square development.

In relation to measures in progress, it highlighted a property review with all leases monitored to ‘maximise best value’ for the council.

It added: “Potential new letting planned to replace recent vacancy in leisure unit. A full review of the operation of Time Square is underway with a full report expected imminently.

“Warrington Market continues to trade well as the anchor for the scheme, review continues to ensure cost neutral in future.”

To find all the planning applications, traffic diversions, road layout changes, alcohol licence applications and more in your community, visit the Public Notices Portal.

Dick’s Sporting Goods on Tuesday revised its 2026 outlook and warned of weakening consumer demand for athletic apparel and footwear.

The sports apparel and footwear retailer’s stock declined over 29% during Tuesday’s trading session, on pace for a record one-day percentage drop if the losses hold, after it also missed second-quarter estimates and reversed expectations for annual comparable sales growth at Foot Locker.

Dick’s acquired Foot Locker for $2.4 billion last year to boost its presence in the sneaker market and to get access to international markets.

Consumers in the U.S. have become more selective about discretionary purchases as more expensive gas and food squeeze household budgets, and are focusing discretionary spending on fresh launches in wellness and health categories.

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“Not only were there fewer launches in the second quarter, but those launches performed below both industry and our expectations,” Executive Chairman Ed Stack said, signaling a more cautious view of the rest of the year. “As a result, we are taking a more cautious view of the balance of the year.”

Dick’s Sporting Goods CEO Lauren Hobart added that while the company is taking a more cautious outlook, it remains “highly confident in the strength of Dick’s Business and our long-term opportunity at Foot Locker.”

The comments by Dick’s executives on the call come after the company had raised its annual target in May and said that it saw encouraging “proof points” to return Foot Locker’s comparable sales to growth.

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Ticker	Security	Last	Change	Change %
DKS	DICK’S SPORTING GOODS	124.31	-55.02	-30.68%

Executives said on a post-earnings call Tuesday that lifestyle and legacy silhouettes were “simply not resonating the way they once did,” which resulted in inflated inventory that led to heavy discounting.

Foot Locker bore the brunt of that trend due its exposure to legacy brands, as well as its presence in Europe and international markets that have struggled amid geopolitical uncertainties.

Neil Saunders, managing director at GlobalData, said that “does not bode well for the major sneaker brands, although they may have been able to offset some of the weakness by leaning more into apparel, especially around the World Cup.”

“Even so, it will set alarm bells ringing for investors,” Saunders added.

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Dick’s projected annual sales of $21.9 billion to $22.2 billion, revised lower from its earlier forecast of $22.1 billion to $22.4 billion.

The company’s quarterly profit of $3.53 per share missed estimates of $3.76. It reported $5.59 billion in net sales for the 13 weeks ending on Aug. 1, which included the FIFA World Cup, which missed estimates of $5.65 billion, according to data compiled by LSEG.

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Dick’s also now expects Foot Locker’s annual comparable sales to be flat to down 2%, and signaled that part of the $59 million in tariff refunds it received will be invested in promotions.

Reuters contributed to this report.

Shares of MTAR Technologies rallied as much as 3% to their day’s high of Rs 7,120 on the BSE on Wednesday after the company won an order worth Rs 127 crore from Nuclear Power Corporation of India for the supply of coolant channel assemblies for reactor refurbishment. With today’s rise, the stock is up 5% in two sessions.

Commenting on the development, the management said it has secured significant orders in the civil nuclear sector over the past few months. “Our closing nuclear order book now stands at more than Rs 775 crore, the highest in MTAR Tech’s history. The sector’s long-term outlook remains promising, and we expect a steady inflow of orders over the coming years”.

MTAR Tech FY27 guidance

The company has guided for 80% revenue growth in the current financial year, with an EBITDA margin of 24% plus or minus 100 basis points. It said its focus extends beyond near-term financial performance, with efforts centered on building a more diversified and resilient business by expanding its product portfolio, increasing wallet share with existing customers and broadening its global customer base.

The company also reiterated its commitment to leveraging its engineering expertise and execution capabilities to strengthen its manufacturing platform and build a world-class manufacturing institution.

MTAR Technologies said it continues to strengthen its position in the civil nuclear power segment, where it supplies critical fuel handling assemblies for nuclear reactor cores. The company recently secured its largest-ever order in this business, worth Rs 504 crore, for the Kaiga 5 and 6 projects, improving order visibility.

It also expects to receive around Rs 150 crore worth of refurbishment orders in FY27 from existing reactors. Looking ahead, the company expects meaningful opportunities from the proposed construction of four reactors at Mahi Banswara, where NTPC is partnering with NPCIL.
It added that the government’s target of achieving 100 GWe of civil nuclear capacity by 2047 presents significant long-term growth opportunities through new reactor construction, refurbishment projects and maintenance contracts.

MTAR Tech Q1 results

The company reported a 364.5% year-on-year jump in Q1 net profit to Rs 50.2 crore from Rs 10.8 crore.

The company’s revenue from operations surged 130.4% year-on-year to Rs 360.7 crore from Rs 156.6 crore. EBITDA nearly tripled to Rs 85.1 crore from Rs 28.4 crore, marking a 199.7% increase, while profit before tax jumped 355% to Rs 67.4 crore.

Commenting on the results, Managing Director Parvat Srinivas Reddy said the company delivered another strong quarter, with performance in line with the growth guidance for the current financial year. He added that, beyond the quarterly numbers, the company has reached an inflection point, with each of its key business verticals well positioned to enter the next phase of growth.

MTAR Tech share price performance

The stock is up almost 200% since the beginning of the year and about 95% in the last six months. In the last one year, the MTAR Tech stock is up over 385% and about 460% in the last 5 years.

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

Vitruvias Therapeutics is recalling one lot of thyroid medication distributed nationwide after testing found the tablets could be more potent than intended, according to a recall notice published by the U.S. Food and Drug Administration (FDA).

The Auburn, Alabama-based company voluntarily recalled Lot 504950 of Thyroid Tablets, USP 30 mg at the consumer level because of the potential for the medication to be “superpotent.” 

The FDA published the company announcement Monday.

Taking superpotent thyroid tablets can cause hyperthyroidism, or an overactive thyroid, with symptoms that can include weight loss, heat intolerance, fatigue, nervousness, muscle weakness, high blood pressure, chest pain, rapid heart rate and heart rhythm disturbances, according to the company.

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Elderly patients, pregnant women and infants face greater risks from excessive thyroid hormone levels, particularly with extended use, the company said. 

Excess thyroid hormone has been associated with cardiac problems in elderly patients, while overtreatment during pregnancy has been associated with premature delivery and low birth weight. In infants, overtreatment may negatively affect growth and development.

Vitruvias Therapeutics said it has not received any reports of adverse events known to be connected to the recall.

The recalled product carries NDC 69680-166-00 and an expiration date of Sept. 30, 2026. The company released 3,655 units and reported 1,955 units sold.

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The affected lot was distributed nationwide to the company’s direct accounts between Jan. 31, 2025, and Sept. 30, 2025.

Thyroid, USP is derived from porcine thyroid glands and contains levothyroxine and liothyronine. The medication is used to treat hypothyroidism, or an underactive thyroid.

Vitruvias Therapeutics is notifying wholesalers to stop distributing the recalled product and arranging for its destruction.

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Patients currently taking tablets from the affected lot should not stop taking the medication without first contacting their healthcare provider for guidance or a replacement prescription, the company said.

A representative for Vitruvias Therapeutics did not immediately respond to FOX Business’ request for additional information.

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Consumers with questions can contact Vitruvias Therapeutics at safety@vitruvias.com or at 256-239-9373. 

Anyone who has experienced problems that may be connected to the medication should contact a physician or healthcare provider.

The recall is being conducted with the knowledge of the FDA.

Brokerages remain constructive on select stocks, with Varun Beverages, Cyient, and Nykaa emerging as key picks despite differing growth trajectories.Morgan Stanley retained an Overweight rating on Varun Beverages with a Rs 557 target, citing the company’s push into ready-to-drink and alcoholic beverages and its expansion in Tunisia.Nuvama has maintained a Hold on Cyient but raised its target to Rs 1,050 as margins improve, and the company

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