Speaking to former political adviser Jimmy McLoughlin on his podcast Jimmy’s Jobs of the Future, Burnham said he was concerned that the use of technology was not making recruitment processes “fairer”.

“How do you get over some of your personality, your passion?” he asked, referring to virtual interviews. “It seems to me to then work against people who have that side to their character and work for those who are just giving the more formulaic answer.

“I do worry about that and I’ve seen that in relation to my kids and their situation.”

More than one million 16-25-year-olds are not in education, employment or training – the highest level in more than 12 years, official figures show.

A major review by former minister Alan Milburn found job and career opportunities for young people are “not growing, they’re shrinking” with one in six set to be out of work, education or training in five years unless action is taken.

“We are at risk of a lost generation” with young adults facing a “perfect storm” of challenges, Milburn warned in May.

Football’s international rule-making body has effectively confirmed that one of the most disputed video assistant referee decisions of the 2026 World Cup should never have been made, reigniting scrutiny over Argentina’s contentious run through the tournament even as a separate FIFA disciplinary investigation into the team’s conduct continues.

The finding centers on Argentina’s quarterfinal victory over Switzerland, a match in which Swiss striker Breel Embolo was shown a second yellow card and sent off after appearing to go down under a challenge from Argentina midfielder Leandro Paredes. Replays suggested there had been no contact between the two players, with Embolo accused at the time of simulation, commonly known as diving, in an attempt to win a foul. The match referee reviewed the incident using the tournament’s revised “mistaken identity” protocol before issuing the red card, a decision that proved decisive as Switzerland went on to lose the match after extra time.

The International Football Association Board, known as IFAB, which writes and governs the laws of the game that FIFA competitions are required to follow, has since confirmed that the review should not have taken place under the current rules governing VAR reviews. In a statement, IFAB said: “A yellow card (caution) other than a second yellow card can only be reviewed to identify the player who committed the sanctioned offence; the offence itself cannot be reviewed or amended.” The organization added that while the use of the mistaken identity clause to address simulation during the tournament “was well received and will be included in the detailed review of the VAR protocol,” it “may not be used as such until that review is concluded,” an acknowledgment that the interpretation applied during the Argentina-Switzerland match fell outside the rules as they currently stand.

FIFA pushed back firmly against the characterization that an error had occurred, defending its handling of the situation in a statement posted to social media through its official FIFA Media account. “FIFA’s interpretation of Mistaken Identity was consistently applied during the FIFA World Cup,” the organization wrote. “There were two instances in which a player was mistakenly identified as having committed a yellow card offence and the VAR advised the referee to correct the factual error caused by the opponent’s simulation.” FIFA argued that the underlying act of simulation itself could not be disputed under the review, and that it “should not result in a disciplinary sanction against an opponent that may then lead to further consequences, such as a sending off for a second yellow card or a match suspension for accumulated cautions.”

FIFA went further in disputing that any rule had been broken, stating: “We do not consider this to have been a referee or VAR error and the decision restored justice.” The organization said it had remained in contact with IFAB throughout the process and that the governing body had confirmed the interpretation used during the tournament was valid, describing it as having been “well received” and noting it would inform ongoing discussions about revisions to the VAR protocol following the tournament’s conclusion.

The dispute has added fresh fuel to broader controversy surrounding Argentina’s path through the 2026 World Cup. Lionel Scaloni’s side faced intense scrutiny throughout the knockout rounds before ultimately losing the final to Spain, with multiple contentious refereeing moments prompting separate FIFA reviews and fueling online speculation, without supporting evidence, that officiating had favored the South American team during the tournament.

Switzerland manager Murat Yakin was outspoken in his criticism of the officiating decision immediately following the quarterfinal loss, arguing that the dismissal had unfairly denied his team a place in the semifinals. “We were punished for a rule that is completely unacceptable,” Yakin said. “I don’t understand. It is very painful we are eliminated that way. I don’t think we deserved it and in my opinion our boys are the real heroes.” Yakin went on to criticize the specific mechanism used to overturn the call. “The referee makes that one decision that he interfered, it is completely misunderstandable. That is a situation that happened many times previously. He awarded a yellow card. This rule destroyed our game today.”

The clarification from IFAB arrives as FIFA’s separate disciplinary investigation into Argentina’s conduct during the World Cup final against Spain remains active. That investigation was launched after chaotic scenes broke out following the final whistle, with several Argentina players and coaching staff members alleged to have confronted match officials in a post-match confrontation. FIFA has appointed a prosecutor to examine the incidents from that match, and potential penalties under consideration include player and staff suspensions as well as financial sanctions against the Argentine federation. The investigation is also examining additional flashpoints involving Argentina from later stages of the tournament, according to FIFA.

With both the VAR protocol dispute and the ongoing disciplinary investigation still unresolved, the fallout from Argentina’s turbulent 2026 World Cup campaign continues to generate scrutiny well after the tournament’s conclusion, as football’s governing bodies work through questions about how officiating rules were applied during some of the competition’s most consequential matches.

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UK vehicle production fell 7.5 per cent in the first half of 2026, with factories building 385,979 cars and commercial vehicles, according to figures published today by the Society of Motor Manufacturers and Traders.

Output stabilised in the second quarter, dipping by 128 units, or 0.1 per cent, year on year, as exports strengthened and car production returned to marginal growth.

Production for export reached 294,222 units over the six months, down 5.6 per cent on the same period last year. Output for the domestic market fell 13.2 per cent to 91,757 units. In the second quarter, exports rose by 5,075 units, or 3.9 per cent.

Car exports rose in June for the third consecutive month, up 4.5 per cent, while commercial vehicle exports rose 54.3 per cent, which SMMT said came from a weak base. Total June output eased 1.2 per cent to 68,200 units, following a rise in May.

Exports accounted for 76.2 per cent of all vehicles built in the year to date, which SMMT said underlined the importance of free and fair trade with global markets. The EU remained the sector’s biggest customer and supplier, taking 58.3 per cent of car shipments, up 3.4 per cent year on year to 166,801 units. The US was second with 45,162 units, or 15.8 per cent of exports, although volumes fell 4.6 per cent. China, the third biggest market, took 12,323 units, down 44.7 per cent on the first half of 2025.

Model changes at several manufacturers continue to affect volumes, particularly for electrified cars, SMMT said. Those vehicles accounted for around four in 10 cars built in the first half, with output 8.6 per cent behind last year.

Citing product transitions and trade and investment uncertainty, the latest independent production outlook anticipates total UK car and light vehicle output will be broadly flat this year at 740,000 units, before returning to growth in 2027. SMMT said the potential to pass one million units still exists, but would require output to grow by some 40 per cent and depends on securing further new model investment by making the UK more globally competitive for manufacturing.

With major investment decisions being taken now and a new government in place, SMMT is urging rapid implementation of the Modern Industrial Strategy. It said that, given energy price volatility, the UK’s uncompetitive industrial electricity prices must be addressed even after the introduction of the British Industrial Competitiveness Scheme, which cuts electricity costs for eligible electricity-intensive manufacturers from April 2027.

The trade body also said reform of the ZEV Mandate is vital. Manufacturers are investing billions in zero emission technologies, SMMT said, but regulation remains ahead of demand, making the cost of selling in the UK untenable and undermining any case for local manufacturing investment.

On trade, SMMT said ‘Made in Europe’ and rules of origin issues arising under the UK-EU Trade and Cooperation Agreement threaten cross-Channel trade and supply chains. Left unresolved, it said, they threaten an €80 billion-a-year trading relationship as well as Europe and the UK’s wider automotive competitiveness.

Mike Hawes, SMMT chief executive, said: “Global vehicle production remains under intense pressure, and the UK is no exception. Global market weakness, trade pressures and uncompetitive costs are taking their toll. But decline is not inevitable. Urgent action on energy costs, reform of market regulation and improved trading arrangements with our global partners would ensure the sector can return to growth. And given that growth would be across every region in the UK, there is every reason for the new government to get behind the sector.”

According to SMMT, automotive manufacturing turns over more than £85 billion, adds £18 billion in gross value added and employs 188,000 people. Across the wider sector, including retail and service, maintenance and repair, automotive is worth nearly £400 billion, contributes more than £75 billion in GVA and supports 830,000 jobs. It accounts for 10 per cent of all UK goods exports, worth almost £40 billion, and £111 billion in total automotive trade. SMMT analysis identifies a further £4.6 billion domestic sourcing opportunity by 2030.

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

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The Los Angeles Clippers are digging in against allegations that the franchise circumvented the NBA’s salary cap to pay star forward Kawhi Leonard, with a source close to the organization saying the team is prepared to fight the claims through arbitration if necessary as an NBA-commissioned investigation continues.

The controversy centers on Aspiration, a now-collapsed sustainability-focused financial company that investigative reporter Pablo Torre has alleged the Clippers used to funnel payments to Leonard beyond what the league’s salary cap rules permit. Torre’s reporting first brought the allegations to widespread attention last season, and his continued coverage has kept pressure on both the team and the league to address the claims.

The dispute has taken on added significance in recent weeks after a planned trade sending Leonard to the Toronto Raptors was paused amid the ongoing NBA investigation into the allegations. Speaking to Baxter Holmes of ESPN, a source associated with the Clippers organization said the team continues to firmly reject the allegations of salary cap circumvention. According to the source, the team’s determination extends to a willingness to pursue the matter through formal legal channels rather than accept any findings without a fight. “The Clippers remain adamant that they did not funnel money to Leonard through Aspiration, and one source close to the team with knowledge of the investigation said that it would ‘fight that to the end,’ including through arbitration,” according to the report.

The NBA has hired Wachtell Lipton, a prominent New York-based law firm, to conduct the formal investigation into the allegations against the Clippers. Should the investigation ultimately find the organization violated league salary cap rules, the Clippers could face significant sanctions from the NBA, with league officials widely expected to seek penalties severe enough to serve as a deterrent against similar conduct by other franchises.

The length of the ongoing investigation has itself become a subject of speculation among fans and league observers, with some interpreting the extended timeline as a potential signal about what investigators may or may not have uncovered. A separate anonymous source with close ties to Wachtell Lipton pushed back directly against that kind of speculation, according to the same ESPN reporting. “One source with knowledge of the investigative process cautioned against the idea of any outside parties having inside knowledge of Wachtell Lipton’s findings to date — or of anyone trying to speculate as to whether the length of the investigation signals what the law firm has or hasn’t found,” the report stated.

Wachtell Lipton has been investigating the Clippers and the allegations surrounding Leonard’s compensation since September of last year, according to the reporting. Investigations of this nature are typically conducted with a significant degree of confidentiality, a practice generally intended to prevent potentially implicated parties from taking steps that could compromise the integrity of the inquiry or withhold relevant information before investigators have completed their review.

The scrutiny facing the Clippers comes at a particularly high-profile moment for the broader NBA offseason, with the league’s attention largely consumed by other major storylines, including LeBron James’s high-profile decision to sign with the Philadelphia 76ers after a lengthy free agency process. That move has generated its own wave of coverage and fan reaction, including one Sixers supporter who went viral this week after intentionally sunburning a tribute to James onto his back while waiting for an official jersey to arrive. Speaking to the Philadelphia Inquirer about the stunt, the fan, identified as Joey Abel, explained his unconventional approach. “I was just like, ‘How can I get a LeBron James jersey as fast as possible?’ And for some reason, that’s where my mind went,” Abel said.

Even amid the broader offseason attention on player movement across the league, the Clippers’ ongoing legal exposure over the Leonard allegations represents a significant institutional risk for the franchise, given both the financial penalties that could follow a finding of wrongdoing and the reputational damage that would come with a formal determination that the team violated the league’s competitive balance rules. NBA salary cap regulations are designed to maintain a level playing field among franchises by limiting how much any single team can spend on player compensation, and violations are treated as serious infractions given their potential to distort competitive fairness across the league.

The Clippers’ ownership, led by Microsoft co-founder Steve Ballmer, has not issued extensive public comment on the specifics of the Aspiration allegations beyond the organization’s general denials relayed through sources close to the team. Ballmer has been a prominent and hands-on owner since purchasing the franchise in 2014, and any finding of wrongdoing in the Leonard case would represent a significant setback for an ownership group that has invested heavily in building the Clippers into a consistent championship contender, including the construction of the team’s dedicated Intuit Dome arena.

With the trade that would have sent Leonard to Toronto still paused pending the investigation’s outcome, and no clear timeline for when Wachtell Lipton’s review might conclude, the situation is likely to remain a significant storyline for the Clippers organization heading into the coming NBA season, even as the broader league shifts its attention toward training camps and the on-court product following a summer dominated by star player movement across multiple franchises.

A slump sale refers to the transfer of an entire business undertaking as a going concern for a lumpsum consideration, rather than the sale of individual assets and liabilities separately.

In a regulatory filing on Wednesday, Mahindra & Mahindra (M&M) revealed that it will transfer its Truck and Bus Division (MTBD) to its listed subsidiary SML Mahindra Limited for Rs 525 crore, consolidating the group’s commercial vehicle operations under a single entity.

Also Read | SML Mahindra to acquire Mahindra’s truck and bus business for Rs 525 crore

The acquisition is set to be completed on or before January 31, 2027, as per the filing.

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M&M said that the proposed transfer of MTBD to SML was a natural next step, following M&M’s acquisition of a 58.97% stake in SML Mahindra Limited (formerly SML Isuzu Limited) from Sumitomo Corporation and Isuzu Motors Limited.
According to Dr Anish Shah, Group CEO & MD, Mahindra Group, the transaction simplifies Mahindra Group’s commercial vehicle business structure by consolidating truck and bus operations under SML Mahindra, creating a single focused entity dedicated to growth and leadership in the commercial vehicle sector.The group’s truck and bus division is stronger on the heavy commercial vehicles front. M&M will do contract manufacturing of heavy commercial vehicles for SML, as part of the arrangement, from its Chakan plant.

Combined revenues of SML Mahindra and MTBD stand at nearly Rs 6,000 crore, as per public disclosures.

Brokerage Recommendation

JM Financial has recommended a ‘Buy’ on SML Mahindra, setting a target price of Rs 3,800. The brokerage sees up to 16.2% upside potential on the stock, and viewed this acquisition in a positive light for M&M’s standalone business. The brokerage stated in its note that MTBD has historically been margin dilutive, despite turning EBITDA positive since FY24.

The combined business will rank fourth in the domestic truck and bus market, according to JM Financial. The note further stated that the combined entity is expected to benefit from operating leverage, pricing power and synergy realisation, which would outweigh temporary dilution, and management believes the transaction to be EPS accretive for SML Mahindra over time.

Also read: Hated till June, hottest in July! What’s driving the Rs 3.8 lakh crore boom in IT stocks?

SML Mahindra Share Price

After the stock rallied up to 20% on Wednesday, the stock continued the rally and gained over 18% on Thursday, following a previous close of Rs 4565.50. The stock has gained over 15% in this month.

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

Fear of failure is the biggest barrier to starting a business among 18-24 year-olds, cited by 29 per cent of that age group, according to new analysis of Funding Circle and Premiership Rugby’s Beyond The Pitch research.

Across all respondents, building the right team was the single biggest challenge facing new business owners, named by 22 per cent. The age breakdown shows that headline figure masks a split between younger and older respondents.

Among 18-24 year-olds, building the right team ranked lowest of the barriers tested, on 18 per cent. The order reverses among 45-54 year-olds, for whom building the right team was the number one challenge on 25 per cent, ahead of fear of failure on 19 per cent.

The research also found that adaptability, rather than a “winning mentality”, was the mindset UK adults rated most important for success in both sport and business, on 28 per cent.

That preference differed by gender. Women were more likely to select discipline and consistency as the mindset that matters most, on 28 per cent against 23 per cent of men. Men were more likely to select a winning mentality, on 17 per cent against 10 per cent of women.

The study found 85 per cent of respondents believe that experiencing failure, whether on the pitch or in life, helps prepare someone to run a business. The stigma attached to business failure in the UK has been a recurring theme in debate over the country’s start-up culture.

Views on business and failure vary by age

Just 40 per cent of 18-24 year-olds described running a business as a balance of people skills and financial decision-making, compared with 66 per cent of over-55s, a gap of 26 percentage points.

Younger respondents were more likely to describe business as mostly about leading and managing people, on 24 per cent against 11 per cent of over-55s.

A similar pattern appeared in views on failure. Those aged 18 to 24 were the age group most likely to say failure builds confidence to take risks, on 41 per cent, but the least likely to say it teaches perseverance over the long term, on 17 per cent against 35 per cent of over-55s.

Over-55s were also more likely to credit workplace experience, rather than sport, as the best preparation for performing under pressure, on 52 per cent against 28 per cent of 18-24 year-olds.

Hiring pressure

The finding that older business owners rank team-building above other concerns sits alongside separate Department for Education research covering 1,500 employers, which found nine in ten English businesses reported difficulty filling skills gaps. That study put 32 per cent of skills gaps at small and medium-sized enterprises in entry-level positions, with specialist roles accounting for a further 29 per cent.

On the other side of the age divide, research published in December by Block and Public First reported that two-thirds of 18-34 year-olds were considering or actively interested in starting a business, against a national average of 40 per cent. That report identified access to finance as the leading barrier, cited by 37 per cent of respondents.

The Beyond The Pitch analysis was based on a survey of 2,023 UK adults.

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.