Stormont’s economy minister is to develop plans to make compensation a legal right for households which lose electricity supplies during extreme weather.

That is despite the independent Utility Regulator saying it is not the right time to do so.

The regulator said money could be better spent making the electricity network more resilient to severe weather.

It also raised concerns that compensation costs could be passed through to all consumers via higher electricity bills.

Northern Ireland is currently the only part of the UK which does not have a compensation scheme.

The grid owner, NIE Networks, is exempted from meeting usual supply standards during periods of severe weather.

That led to humiliation for Executive ministers in the wake of Storm Éowyn last year.

The first and deputy first ministers had called for NIE Networks to make voluntary compensation payments, but it declined to do so.

The minister, Caomihe Archibald, said: “Storm Éowyn highlighted the need for stronger protections for customers affected by prolonged power outages.

“I have therefore instructed my officials to bring forward policy proposals to remove the severe weather exemption, while minimising costs for all consumers.”

She added that “detailed proposals” will be brought forward before next year’s Assembly election.

At this stage it is not clear how much compensation would be on offer and to what extent it be funded by NIE Networks shareholders and how much of it would be socialised across all customers’ bills.

“Policy costs” have become an increasingly large element of electricity bills.

These are parts of the bill which do not reflect electricity usage but instead are funding policies such as renewable electricity subsidies.

While the newly demerged Vedanta stocks grab the headlines with sharp upswings and downswings, the shares of the metals major Vedanta quietly fell more than 26% from its post-adjustment high in just two months, with analysts still advising caution.

The shares of the company adjusted nearly 63% at the end of April this year, as it began to trade excluding the value of Vedanta Aluminium, Vedanta Power, Vedanta Oil & Gas, and Vedanta Steel & Iron Ore units. The stock adjusted to the mega demerger that marked one of the biggest corporate restructurings in India’s metals and mining space.

After the demerger adjustment, the stock jumped over 24% in less than a month to hit a post-demerger high of Rs 360 apiece at the end of May. However, what followed was a consistent trend of decline, falling 26% to close at Rs 264.95 apiece on Tuesday. The stock has now erased all its post-demerger gains, and trades below the price at which it opened following the adjustment. At the same time, Nifty Metal crashed over 9% amid an overall downtrend in metal stocks.

Meanwhile, the four new stocks that debuted on the stock market following the demerger saw sharp upswings and downswings. Vedanta Iron and Steel has emerged as the winner in terms of gains, rising over 55% in 2026 so far. The restructured Vedanta meanwhile continues to house the zinc and silver businesses through Hindustan Zinc and is envisaged as an incubator for future ventures.

Recently, CRISIL upgraded Vedanta’s long-term rating to CRISIL AA+/Stable from CRISIL AA/Watch Developing and reaffirmed its short-term rating at CRISIL A1+. It also assigned a CRISIL AA+ rating with a Stable outlook to the company’s non-convertible debentures.

The ratings agency also said Vedanta’s financial risk profile has improved significantly due to the continued consolidation of Hindustan Zinc and the allocation of debt to the demerged entities. It added that lower leverage, sustained earnings and cash flows from HZL, along with the market value of Vedanta’s investment in HZL, have strengthened the company’s financial flexibility. Over the medium term, the expected ramp-up in Zinc International and improving contributions from the copper and ferro alloys businesses are expected to support earnings.
Also read | Vedanta, demerged Vedanta Aluminium, Vedanta Oil & Gas get rating upgrades from CRISIL

Is it time to buy Vedanta shares?

The sharp drop in Vedanta’s share price has come on the back of an improving operating backdrop, not a deteriorating one, said Harshal Dasani, Business Head at INVasset PMS. Hindustan Zinc earlier this month reported its highest-ever first-quarter mined metal production of 268 kilotonnes, the fifth consecutive year of Q1 records, with saleable metal up 4%.
The company’s consistent tradition of dividend payouts for investors confirms the cash upstreaming engine is running, Dasani added. In this background, the analyst feels that the correction in Vedanta’s share price reflects profit-booking after the post-listing euphoria across the demerged family, holders rotating into the growth entities they actually wanted, and the permanent holding-company discount that reflects the parent’s dividend dependence.

Investors will now look at Hindustan Zinc’s Q1 earnings print scheduled on July 24 as the next catalyst for Vedanta shares, and the medium-term zinc surplus from China remains the structural cap on realisations into 2027, the analyst said. “The framework favours staggered accumulation for income-oriented investors comfortable with commodity concentration, with the dividend stream providing genuine support at the corrected price, and the discipline that this is a metals-cycle position carrying a permanent holding company discount, not a diversified holding. Investors seeking the growth engines should own the demerged entities directly,” he added.

Technical view on Vedanta

The technical charts of Vedanta, however, warrant caution. Vedanta shares have witnessed a pullback from their 200-day EMA, but the stock continues to trade below its key moving averages and has yet to negate the lower high–lower low structure on the daily chart, keeping the broader trend bearish, said Sudeep Shah, Head of Technical and Derivatives Research by SBI Securities.

The MACD remains well below the zero line, reinforcing the prevailing negative momentum, he explained, adding that the stock has retraced more than 78.6% of its prior rally from Rs 238 to 360, suggesting that it is still premature to classify the recent pullback as a trend reversal.

“The Rs 250–245 zone is likely to provide immediate support. A decisive breach below this range could trigger another leg of downside. On the upside, the Rs 275–280 zone, which coincides with the 100-day EMA, is expected to act as the immediate resistance,” Shah said.

Also read |Have metal stocks’ dependence moved from Chinese apartments to world’s power grid? 5 metal stocks with upside potential of up to 34%

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

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Major reforms are planned to shake up house selling in England, Wales and Northern Ireland.

The government hopes the plans could end gazundering and gazumping and make buying and selling homes faster, cheaper and less likely to fall through.

Gazumping happens when a seller switches buyer at the last minute, usually because someone else can pay more, gazundering is where a buyer suddenly drops their agreed offer just before contracts are exchanged.

One in three house sales fall through before exchange. This costs sellers £400m and the wider economy £1.5bn each year, according to the Ministry for Housing, Communities and Local Government.

Plans to reform the system include the introduction of a sellers’ pack, similar to the system operating in Scotland.

Felicity Hannah is joined by Nathan Emerson, the CEO of PropertyMark (a professional body for property agents) and David Bridge, Head of Conveyancing at the Dorset-based solicitors Kiteleys .

Presenter: Felicity Hannah
Producer: Craig Henderson
Production co-ordinator: Jacqui Johnson
Editor: Jess Quayle
Senior News Editor: Sara Wadeson

(This programme was first broadcast at 3pm on Wednesday July 22nd, 2026)

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Lloyd’s of London’s former boss’s close relationship with another director breached compliance rules, the insurance market has said after an internal investigation.

Former chief executive John Neal and former corporate affairs director Rebekah Clement’s relationship was “sufficiently close… that it could be viewed as creating a perceived conflict of interest”, the firm said.

Lloyd’s said the pair breached compliance rules by not disclosing their relationship but found no conclusive evidence they had a romantic relationship while at Lloyd’s.

Neal told the Financial Times all parties can now move on. Clement’s lawyer said she is considering legal action.

“Rebekah is hugely disappointed with Lloyd’s conduct over the course of this investigation, the nature and length of which have caused her unnecessary stress and significant reputational damage relative to its ‘findings’,” Clement’s lawyer added.

“She is not surprised that Lloyd’s found no evidence of an inappropriate relationship with John Neal, nor any evidence of any failings in her promotion. She also co-operated with the investigation throughout.

“Yet, Lloyd’s has still chosen to find against Rebekah, on the pretext of ‘perception’, the source of which was rumour, gossip and innuendo.”

The BBC has contacted Neal for comment. He told the Financial Times:, external “I am pleased, but not at all surprised, that the investigation found there was no inappropriate relationship.

“I would have hoped less time and resource had been spent in reaching a conclusion on the central question that was, in truth, never in doubt.

“I am disappointed with the other findings and do not accept them.”

Lloyd’s said on Wednesday that it first received “certain whistleblowing reports” in November 2023 but that it didn’t act on them.

It said its chairman Sir Charles Roxburgh judged this to be a governance failure and informed the Financial Conduct Authority (FCA) about it in October 2025.

Lloyd’s said it could not share the nature of these allegations or the identities of the people involved.

In November 2025, Lloyd’s said Sir Charles became aware of “new information related to an alleged personal relationship” between Neal and Clement and “immediately launched an expanded investigation into the matter”.

Lloyd’s said its investigation was hampered by the fact that Neal and Clement had both left the company and refused to answer questions, but Lloyd’s said it interviewed nearly 40 witnesses in its probe.

It added that it has kept the FCA informed throughout the process.

Sir Charles said on Wednesday: “Based on the findings of this investigation, we have concluded that the conduct of the former chief executive fell significantly below the standards expected of him.”

He added the investigation “established serious failings in the governance standards and in following processes, most worryingly in the handling of whistleblowing reports. These were serious failures that should never have been allowed to happen.”

Lloyd’s history as a City institution stretches back well over 300 years, with its first recorded mention appearing in 1688.

Thailand’s Trusted Thailand initiative ensures safety for travelers through a certification program and the Tourist Police app, enhancing preparedness with infrastructure, transparency, and modern technology for a reassuring travel experience.

Embracing Safety in Travel

For nearly two decades, I’ve emphasized that a prepared journey is the safest one. Thailand’s latest initiative exemplifies this belief. Launched in November 2025 by the Tourism Authority of Thailand (TAT) and the Ministry of Tourism and Sports, the “Trusted Thailand” program provides a certification assuring visitors of high safety standards in hotels, restaurants, and attractions. This initiative evaluates participants on four pillars including general safety, secure payment systems, multilingual communication, and accessible transport. Thousands of operators across diverse locations, from Bangkok to Chiang Mai, aim to be assessed under this program.

Building Trust Through Technology

Aiming to enhance transparency and visitor confidence, TAT has partnered with major booking platforms like Agoda and Trip.com to integrate Trusted Thailand certifications into their listings. Agoda has further enhanced safety by embedding QR code guides on potential hazards. This strategic safety shift places vital information within the booking process itself, ensuring travelers are well informed before their journey even begins.

Travel Preparedness Reinvented

While traditional travel instincts remain crucial, tools like the Trusted Thailand program and the Tourist Police app redefine modern travel safety in Thailand. The app, essential for on-the-ground safety, connects users with police and resources efficiently. By integrating infrastructure with Thailand’s renowned hospitality, these advancements ensure a secure and welcoming travel experience. As always, download the Tourist Police app and consider Trusted Thailand-certified accommodations for a worry-free journey.

Source : “Trusted Thailand” Is Rewriting the Rules of Travel Safety

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The U.S. Section 301 investigation uses forced labor as pretext but actually enforces trade compliance. ASEAN nations negotiated individually, missing integration opportunities. By collectively harmonizing customs, reducing non-tariff barriers, and managing Chinese investment circumvention, ASEAN could transform U.S. pressure into regional economic integration.

Key Points

• The U.S. USTR’s Section 301 Investigation, framed around forced labor concerns, is actually an extension of trade negotiations—evaluating countries based on whether they’ve accepted Washington’s trade commitments, as evidenced by differing tariff rates reflecting bilateral agreements rather than human rights standards.

• ASEAN nations negotiated individually during reciprocal tariff talks, missing an opportunity for collective action; they should now align U.S.-demanded reforms with shared integration goals, extend market-opening concessions to all WTO partners, and collectively address export circumvention.

• U.S. pressure could catalyze deeper ASEAN integration by harmonizing customs procedures, dismantling non-tariff barriers, and unifying rules of origin—potentially transforming Section 301 from a coercive trade tool into a turning point toward a unified ASEAN single market.

The True Agenda Behind the Section 301 Investigation

The U.S. Section 301 Investigation, launched in March 2026, is officially framed as a response to forced labor, but a closer examination reveals a different purpose. Rather than assessing forced labor practices in specific countries, the investigation evaluates whether nations have implemented import prohibition systems that meet U.S. standards. Tariff rates further expose this agenda: Malaysia and Cambodia, despite lacking compliant systems, received lower tariffs after committing to U.S. trade conditions. This pattern confirms that the investigation functions as an extension of trade negotiations, not a genuine human rights inquiry.

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ASEAN’s Strategic Response to U.S. Trade Pressure

Thailand and Vietnam, still at the framework agreement stage, retain room for negotiation. Both should study agreements reached by Indonesia and Malaysia to understand Washington’s core demands and align their responses with broader ASEAN integration goals. Rather than viewing U.S. pressure as purely coercive, ASEAN nations should recognize an opportunity to convert external demands into regional momentum. Institutional reforms sought by the U.S.—including customs modernization, regulatory transparency, and certification harmonization—closely mirror priorities already embedded in the ASEAN Economic Community agenda.

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Transforming Bilateral Concessions into Regional Integration

A critical lesson from the reciprocal tariff negotiations is that ASEAN members negotiated individually, missing the chance to leverage collective bargaining power. Three corrective actions are essential: first, treat U.S.-demanded institutional reforms as shared ASEAN objectives; second, extend any elimination of non-tariff barriers to all trading partners in accordance with WTO Most-Favored-Nation principles; and third, collectively address export circumvention by harmonizing Rules of Origin and channeling Chinese investment toward upgrading regional industries. If ASEAN successfully coordinates these efforts, Section 301 could ultimately serve as a catalyst for deeper regional integration rather than a tool of trade coercion.

Source : ASEAN and Trump’s Section 301 Tariffs

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The artificial intelligence boom is no longer the exclusive domain of global technology giants. In India, it has created an unlikely set of stock market winners: optical fibre manufacturers.

No company has captured investor attention quite like Vedanta-backed (0.98% stake) Sterlite Technologies. The stock soared an astonishing 400% in 2026, making it one of the market’s standout performers. The rally has also fuelled a dramatic wealth creation story, with the company’s market capitalisation ballooning from just over Rs 4,000 crore at the start of the year to around Rs 27,000 crore in just six months.

But the spectacular run has hit a speed bump. Shares have fallen around 27% over the past month from their June record high of Rs 684, raising a key question for investors. Should those sitting on massive gains book profits, or does the recent correction offer an opportunity for those looking to enter the stock? Here’s what analysts are saying.

Sterlite Tech consolidation ahead?

Following a gain of more than 400% over a relatively short period, the recent correction of nearly 25% towards the Rs 500 level should be seen as a normal pause in the broader bullish trend rather than a sign of structural weakness, according to Sachin Gupta, VP, Technical Research at Choice Equity Broking.

The correction has also helped ease excessive momentum, with the 14-day Relative Strength Index (RSI) falling from extremely overbought levels above 90 to around 42, pointing to a healthier technical setup. Gupta said the Rs 440-Rs 460 range has emerged as a key support zone and could attract buying interest, keeping the long-term uptrend intact as long as the range holds. On the upside, the Rs 550-Rs 560 zone remains the first major hurdle. A decisive breakout above this resistance, backed by strong volumes, could mark the end of the consolidation phase and open the way for a fresh rally towards Rs 630, followed by a possible retest of the lifetime high near Rs 680.

Virat Jagad, Senior Technical Research Analyst at Bonanza, said Sterlite Technologies has corrected nearly 25% over the past month following an exceptional 390% rally in 2026, pointing to healthy profit booking after a sharp uptrend. However, the stock remains under technical pressure as it trades below its 20-day and 50-day EMAs, while an RSI near 40 indicates weak momentum without reaching deeply oversold levels.

The immediate support is placed around Rs 490-Rs 500, with a decisive break below this zone potentially triggering further downside towards Rs 460. On the upside, Rs 540-Rs 550 is the first resistance zone. Jagad advised investors to avoid aggressive buying until the stock sustains a move above its short-term moving averages, while existing holders should maintain strict stop-loss levels.

CLSA sees further upside

From a fundamental perspective, Hong Kong-based CLSA sees further upside of 24%, with a target price of Rs 655. The brokerage’s optimism follows a major $1 billion order win from a U.S. hyperscaler, which it believes significantly strengthens Sterlite Technologies’ position in the AI data centre ecosystem and improves visibility on medium-term growth.
CLSA expects the order to further strengthen Sterlite Technologies’ competitiveness in international markets and is now modelling a 49% EBITDA CAGR between FY26 and FY29. The brokerage has retained its ‘Outperform’ rating on the stock.

Behind Sterlite Tech’s share price rally

The country’s data centre industry is entering a prolonged expansion cycle, supported by accelerating digitalisation, rising cloud adoption and growing demand for artificial intelligence infrastructure.
According to international brokerage Nomura, India’s data centre IT load has increased from around 350 MW in 2019 to nearly 1.5-1.6 GW in 2025, representing a CAGR of about 29%, significantly ahead of the global growth rate of roughly 20%. Consequently, India’s share of global data centre capacity has climbed from around 1.5% in 2019 to approximately 2-3% in 2025.

The opportunity extends far beyond India. Globally, hyperscalers are ramping up investments in AI-focused data centres, creating strong demand for optical fibre cables, interconnect solutions and telecom infrastructure. As AI workloads become increasingly complex and compute-intensive, the need for faster and denser connectivity within and between data centres continues to grow, directly benefiting companies such as Sterlite Technologies.

India’s own data centre opportunity is adding further momentum. A KPMG report projects the country’s data centre industry revenue to reach nearly $45.69 billion by 2033, driven by rising AI workloads, rapid cloud adoption and data localisation requirements. “With one billion internet users and businesses rapidly adopting cloud services, building domestic data centres is now a necessity,” the report noted.

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

A Chinese national seeking asylum in New York City allegedly attempted to scam an elderly Buffalo-area woman out of $360,000 of her inheritance and life’s savings, using an internet fraud scheme while claiming to be a “Microsoft security” representative.

Didi Zou, 39, was arrested in June for conspiracy to commit money laundering and wire fraud and faced a July detention hearing where U.S. Magistrate Judge Jeremiah McCarthy ordered him to remain in custody while the federal case proceeds, The Buffalo News reported Wednesday.

Attorney Jeffrey T. Bagley, an assistant federal public defender representing Zou – a temporary work visa-holder seeking asylum in New York City – claimed in court that Zou is an alleged “white-collar” crime defendant and “not one that’s a violent one,” according to the News.

SCAMMERS DRAIN SENIORS’ SAVINGS AT STAGGERING RATES, FTC REPORT WARNS

“So stealing hundreds of thousands of dollars from elderly people would not be a danger?” McCarthy asked. “It’s callous, it’s greed-driven, and it had devastating consequences to members of the community.”

Zou is alleged to have directed an elaborate scam that led to the unnamed elderly Tonawanda woman giving him, as he posed as an IRS agent, $20,000 and “gold coins/bullion to protect their funds in the ‘IRS Banking’ account,” according to the Justice Department.

“Mr. Zou is nothing more than a mule,” Bagley claimed in court, according to the report, adding, “The masterminds behind the stealing, they’re not going to be the ones showing up for face-to-face interactions.”

A NEW MEDICARE SCAM PROMPTS FCC WARNING

Assistant U.S. attorney Colleen McCarthy says there is evidence of Zou having traveled from New York City to New Jersey and Indiana, for potential “other pickups” and internet fraud victims, according to the News.

Zou is alleged to have used internet hacking, passwords, fake names and posing as a federal agent to scam the elderly women in the elaborate scheme.

“He was not used,” McCarthy said, rejecting Zou attorney’s claim of being an unwitting “mule.” “He was involved.”

The scheme allegedly started on May 15, when the elderly woman was logging payments and bills into a Microsoft Excel workbook. She received a purported Microsoft alert on her computer screen with the phrase, “Microsoft Security,” and instructions to call a phone number, according to the criminal complaint.

LIFE INSURANCE AND ANNUITY SCAMS: DON’T BE THE NEXT VICTIM

She called that number, which kicked off a month-long scheme, allegedly directed by Zou, “to set up a bank account with the IRS on their personal banking website and move their funds to the IRS Bank because of the ‘hackers’ in their computer,” according to a DOJ release.

Fearing hackers, the woman downloaded software at the alleged scammer’s instruction that surrendered remote access to her computer, as well as banking details and passwords.

The reported $360,000 in assets included “profits from the sale of their parents’ house, inherited savings, and multiple CDs.”

The alleged scheme led the woman to give $20,000 to an IRS “agent” at a coffee shop near her home in Tonawanda, New York, and make five purchases of gold coins/bullion and hand those over at the local coffee shop through June 18.

6 WAYS TO BEAT FINANCIAL FRAUDSTERS

The gold was fake and tagged with tracking devices after the victim worked with FBI agents, the IRS and New York State Police in a sting.

Zou was taken into custody after a traffic stop, telling a New York state trooper he was dropping off a friend in the Buffalo area and heading back to his home in Brooklyn, according to the News.

Microsoft is not a party to this criminal scheme, but FOX Business did reach out to the company for comment Wednesday morning.

Tech-support imposter scams have surged nationwide, frequently weaponizing consumer trust in major brand names like Microsoft, Apple, or Amazon, the FBI warns.

CRYPTO FRAUD TOPS FBI’S ANNUAL CRIME REPORT AS AMERICANS LOSE BILLIONS TO SCAMS

According to federal cyber regulators, these schemes generally follow a familiar playbook:

The Pop-Up Trap: Malware or compromised web browsers trigger an unclosable banner or loud audio warning claiming the device is infected or hacked.

The Fake Hotline: Victims are instructed to call a toll-free number where operators act helpful while establishing control.

The Financial Drain: Scammers often persuade victims to grant remote access to their computers, log into online bank accounts, or transfer cash, wire funds, buy gold bars, or convert money into cryptocurrency under the guise of “safekeeping” or “fixing the breach.”

Ticker	Security	Last	Change	Change %
MSFT	MICROSOFT CORP.	389.76	-7.99	-2.01%
NVDA	NVIDIA CORP.	206.53	-0.76	-0.36%
GBTC	GRAYSCALE BITCOIN TRUST ETF – USD ACC	50.88	-0.61	-1.19%
IBIT	ISHARES BITCOIN TRUST – USD ACC	37.16	-0.51	-1.34%
PANW	PALO ALTO NETWORKS INC.	336.44	-5.71	-1.67%
CRWD	CROWDSTRIKE HOLDINGS INC.	189.45	-1.70	-0.89%

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Major tech firms, including Microsoft, emphasize that legitimate corporations never display unsolicited pop-up messages containing phone numbers to call for technical support, nor do they ask for payments in cryptocurrency or wire transfers.

Law enforcement agencies warn consumers that if an unexpected warning freezes a computer screen, they should never call the phone number listed. Instead, reboot the device, disconnect from the internet, and verify any account issues directly through official corporate websites.