WASHINGTON — The US Food and Drug Administration is reviewing three petitions, all dealing with natural sources of color for foods and beverages, according to the Aug. 20 Federal Register. The colors are gardenia blue and safflower as well as the use of acetone as a solvent in the manufacture of carrot oil.

The petitions, if approved, would increase options for natural sources of color, which are needed in the FDA’s plan to phase out petroleum-based synthetic dyes from the nation’s food and beverage supply.

The Gardenia Blue Interest Group filed its petition Aug. 4, proposing the FDA expand the use of gardenia (genipin) blue in various foods and beverages and lower the specification for arsenic in gardenia blue. The FDA in July approved the use of gardenia blue in certain foods and beverages, including sports beverages, ready-to-drink teas and candy.

The proposed expanded uses in the petition include alcoholic mixed drinks, carbonated drinks, processed breakfast cereals, ice cream and frozen dairy desserts, flavored milk, both flavored and unflavored yogurt, and snack foods.

GNT USA, LLC, Dallas, NC, issued its color additive petition on July 20, which the company had announced previously.

GNT proposed that the FDA amend its color additive regulations to provide for the use of safflower (Carthamus tinctorius L.) as a color additive in various items, including tortilla wraps, beverages, colored-extruded breakfast cereals, chewing gum, candy and flavored yogurt.

The Washington-based International Association of Color Manufacturers on Aug. 3 filed its petition about acetone. The petition also proposed that the FDA add heavy metal limits and secondary names for carrot oil. In beta-carotene colors, carrot oil is the liquid or solid portion of the mixture or the mixture itself, according to the association.

1. FROM MY DESK

The heirs to one of America’s biggest liquor fortunes are in the middle of

an intense family drama. Profits at Brown-Forman are shrinking, and shares in the spirits company have lost 60% of their value over five years. People are drinking less of its flagship Jack Daniel’s whiskey, the CEO is leaving, and a crosstown rival has made a $15 billion hostile takeover bid. Laura Cooper takes us inside the rift among some family members who have controlled the company for more than 150 years.

And bourbon country isn’t the only place where things are getting heated. Tensions are rising in retirement communities thanks to baby boomers smoking more pot. Seniors are among the fastest-growing demographics for marijuana use, and their neighbors are fuming.

The U.S. Treasury Department announced a new round of secondary sanctions Monday aimed at countries that continue to do business with Iran, a move by the Trump administration to exact “economic asphyxiation” on Tehran.

Treasury Secretary Scott Bessent announced the launch of Operation Economic Outcast, an effort to sever the financial lifeline that sustains Iran’s regime, which the United States has accused of using illicit revenues to fund global terrorism.

“Iran now faces a very clear choice, with only two paths before them: complete global isolation and a subsistence economy, or a path back to normalcy with an opportunity to rejoin the global economy,” Bessent said during a news conference.

TRUMP’S IRAN CRACKDOWN ‘SUFFOCATING’ REGIME AS OIL WELLS COULD SHUT WITHIN DAYS, BESSENT SAYS

The aggressive strategy, labeled as an “Economic D-Day,” targets critical industries such as Iran’s digital assets, technology, gold, aviation and shipping in an effort to eliminate the revenue streams that fund international terrorism, Bessent said. The Trump administration will implement secondary sanctions to pressure nations into severing ties with Tehran, while simultaneously blacklisting nearly 60 people, businesses and vessels involved in illicit trade.

President Donald Trump was speaking with several world leaders, asking them for unspecified assistance in helping to tighten the economic rope around Iran, Bessent said.

“We are following his calls up with visits and calls from the State Department and from the U.S. Treasury, telling the leaders, the countries and the entities exactly what we expect and the timelines,” he said. “I would expect that very quickly. If they do not respond, then you will see the ramifications of their actions.”

The secondary sanctions will not be implemented right away, Bessent said, describing his announcement as a “warning shot” to nations thinking of doing business with Iran.

“We are giving everyone the opportunity to remedy bad behavior,” he said. “Why would I want to blow up the global financial system? We believe that it is important to level set and give people a cure, period. But they should know that that will move very quickly and that we are serious.”

“Treasury has mapped every node, every facilitator and every network that Iran has used to smuggle oil and evade sanctions. Beginning today, the actions of Treasury and other agencies will tighten the noose and block every potential source of revenue that funds the IRGC and the evil Iranian regime,” he added.

TRUMP CLAIMS IRAN ‘STARVING FOR CASH,’ ‘COLLAPSING FINANCIALLY’ AFTER EXTENDING CEASEFIRE

Iran has faced U.S. sanctions for decades, which have been aimed at curtailing a range of sectors in Tehran’s economy, including its oil revenues, as well as its ability to acquire weapons and other military equipment and cutting off funding for business enterprises controlled by the Islamic Revolutionary Guard Corps, Reuters previously reported.

In May, Bessent announced that the U.S. had seized roughly $1 billion in Iranian cryptocurrency assets.

Last week, Trump threatened “unprecedented” economic consequences for any nation assisting Iran, which he likened to an “economic D-Day.”

“I am also announcing that ANY country that allows its financial institutions, businesses, airports, or government entities to provide any type of lifeline to Iran will itself face TREMENDOUS Economic Consequences,” he wrote on Truth Social at the time.

“Oil smuggling, swap lines, cash transfers, exchange houses, ship registries, front companies — It all needs to stop NOW,” he continued. “You know who you are. This will be an ECONOMIC D-DAY, and we need all of our Allies to stand with the United States of America to isolate, and defeat, the Iran threat. These maniacs are on the ropes, and these HISTORIC MEASURES will cripple them and their ability to project terror worldwide.”

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Bessent warned nations doing business with Tehran, noting that no one is above the reach of U.S. sanctions.

“No nation should expect to enjoy the rewards of our system while helping those who seek to destroy it,” he said. “It is now a time for world leaders to make a decision between prosperity and isolation, peace and terror, America and Iran. The campaign we begin today will gather force with every day that follows, and it will not end until this regime stands alone.”

A low-priced co-op fishing game with an unusual arsenal of weapons has become one of Steam’s standout releases of the week, selling 1 million copies in just two days after launch.

How to Fish, the debut title from developer Dazed Games, arrived on Steam on Aug. 20 and quickly climbed the platform’s top sellers list. The studio announced the sales milestone shortly afterward, confirming the game had reached 1 million units sold within 48 hours. Concurrent player counts peaked near 268,000, according to tracking data, placing it among the most-played titles on the service during its opening weekend despite competition from higher-profile releases.

The game is priced at $7.99, with a 38 percent launch discount bringing the cost to $4.95 through late August. That accessible price point, combined with short session times and strong multiplayer appeal, has helped drive rapid adoption. Steam reviews have been strongly favorable, with the title earning a “Very Positive” rating based on roughly 12,000 user assessments in its first days.

How to Fish casts players as a group of friends who crash their boat onto an island and must catch, kill and sell fish to earn money for upgrades that will eventually get them home. While the core loop involves casting a line and reeling in catches, the game expands the concept with a wide range of weapons and tools. Players can dispatch fish with brass knuckles, submachine guns, dynamite and other implements. A killscore multiplier rewards impressive or inventive methods of taking down the catch, increasing its sale value.

Progression moves players to new islands featuring more difficult creatures and tougher boss encounters. The straightforward cycle of fishing, eliminating the catch, selling it and reinvesting the proceeds supports both casual sessions and longer co-op runs. The game supports multiplayer for small groups, fitting the growing category of affordable, physics-driven party titles sometimes described as “friendslop” for their emphasis on shared, often chaotic entertainment rather than complex systems or competitive balance.

Dazed Games has already released multiple patches addressing bugs and making balance adjustments. In its Steam announcement of the sales figure, the studio offered a concise update on future plans: “Yes, we’ll be adding more content! Yes, we’ll be fixing bugs!”

The success arrives amid a broader wave of inexpensive multiplayer games that prioritize approachable mechanics, short play sessions and social humor. Titles in this space often gain traction through streaming and short-form video clips that highlight unexpected physics interactions or group failures. How to Fish’s combination of fishing with over-the-top weaponry and trick-shot scoring appears well suited to that discovery path.

Early player feedback has highlighted the contrast between the game’s relaxed premise and its more aggressive options for dealing with fish. The ability to no-scope or punch catches, then sell them for higher returns based on the spectacle of the kill, has become a recurring point of discussion. Boss fights add challenge that can stretch sessions beyond the basic loop, while the boat-upgrade goal provides a light narrative frame for the progression.

The launch timing placed How to Fish against several anticipated titles, including major betas and sequels. Its ability to claim a prominent position on the top sellers chart and sustain high concurrent numbers demonstrates the continued strength of the indie multiplayer segment on Steam. Affordable pricing reduces the barrier for groups of friends to buy in together, while the short learning curve encourages repeated sessions.

Industry observers have noted that such games often benefit from rapid iteration after launch. Dazed Games’ early patches suggest an intent to stabilize the experience quickly while players are still discovering the title. The promise of additional content leaves open the possibility of expanded maps, new weapons, creatures or modes that could extend the game’s lifespan beyond the initial surge.

How to Fish joins a lineage of physics-based multiplayer experiments that have found large audiences by leaning into absurdity and shared laughter. Its specific blend of fishing simulation, combat tools and score multipliers distinguishes it within that category. The high concurrent peaks indicate that many players are not only purchasing the game but actively playing it in groups during the launch window.

As the introductory discount period continues, the studio faces the typical post-launch challenges of managing servers, addressing remaining technical issues and deciding which features to prioritize next. The 1 million sales figure provides a strong foundation for further development, though sustaining interest will depend on the quality and frequency of updates.

For now, How to Fish stands as a clear example of how a focused concept, low price and multiplayer design can generate outsized results on digital storefronts. What began as a quirky fishing simulator has become a mainstream Steam success story in a matter of days, drawing players with the simple promise of catching fish by any means necessary and turning those catches into a ticket home.

The coming weeks will reveal whether the early momentum translates into longer-term engagement or remains a concentrated launch phenomenon. Dazed Games has signaled that more content and fixes are on the way. In the meantime, the combination of positive reviews, high player counts and rapid sales has secured How to Fish a prominent place in the current conversation around indie multiplayer games.

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The Union government will sell 3% equity in Hindustan Copper Ltd through an offer for sale, with an option to sell another 3% in case of oversubscription. The OFS will open at a floor price of Rs 514 per share. This is about 10% discount to the last closed price of Rs 573.55.

The OFS will open first for non-retail investors on Tuesday, August 25, 2026. Bidding for this category will start at 9:15 am and close at 3:30 pm on the same day. Allocation for regular bids is expected to be confirmed around 7 pm on August 25 through contract notes. Retail investors will be able to bid on Wednesday, August 26.

Settlement and credit of shares for all successful bids are expected on or around Thursday, August 27, 2026. This includes bids by non-retail and institutional investors with 100% upfront margin, institutional investors with zero upfront margin, carry-forward bids, and retail investor bids. Allocation for carry-forward bids is expected to be confirmed around 7 pm on August 26 through contract notes.

The issue includes a 10% reservation for retail investors, while 25,000 shares have been reserved for eligible employees.

The transaction is part of the government’s disinvestment programme and will help increase public shareholding in the state-run copper miner. Hindustan Copper is under the Ministry of Mines and is India’s only vertically integrated copper producer.

The base offer will allow the government to divest 3% equity. If demand is strong, the government can use the green shoe option and sell an additional 3%, taking the total stake sale to 6%.
An offer for sale allows promoters of a listed company to sell shares through the stock exchange platform. In this case, the promoter is the Government of India. Retail investors can bid under the reserved portion, while institutional and non-retail investors will take part under the broader OFS framework.The OFS comes after a strong June quarter for Hindustan Copper. The company reported profit before tax of Rs 472 crore for the quarter ended June 2026, up around 163% from the same period last year. Profit after tax stood at Rs 353 crore, also up around 163%. Revenue from operations rose 81% to Rs 936 crore from Rs 516 crore a year earlier.

The company has also been working on mine expansion. Hindustan Copper said it has intensified monitoring of expansion projects and is targeting ore production capacity of 12.2 million tonnes per annum by 2030. It is also making progress on reopening closed mines in Jharkhand, acquiring new mines in Chhattisgarh and Madhya Pradesh, and pursuing mine exploration in Chile.

Copper demand has become a key long-term theme because of electric vehicles, renewable energy, power infrastructure and data centres. The transition towards renewable energy and electric mobility, along with AI-led infrastructure and decarbonisation policies, is expected to support copper demand in the coming years.

Hindustan Copper shares will also be in focus as the OFS opens, with investors tracking the discount to the market price, institutional demand and retail participation.

Y Combinator-linked entities sold 4.85 crore Meesho shares worth about Rs 970 crore in a series of block deals on Monday, August 24, with Morgan Stanley, Goldman Sachs, Citigroup, Nippon India Mutual Fund and HDFC Standard Life Insurance Company among the institutional buyers.

According to NSE block deal data, Y Combinator Continuity Holdings I LLC sold 2,30,27,687 Meesho shares, while YCS16 Holdings LLC sold 2,06,03,720 shares. YCVC Fund I L.P. sold another 48,47,934 shares. All three transactions were executed at Rs 200.01 per share, about 2.47% below Meesho’s NSE closing price of Rs 205.07.

Together, the three entities sold 4,84,79,341 Meesho shares for approximately Rs 969.71 crore.

On the buying side, Nippon India Mutual Fund bought 1,00,00,002 shares, the largest single purchase disclosed in the block deal data. HDFC Standard Life Insurance Company Ltd bought 75,00,003 shares, while Edelweiss Mutual Fund purchased 34,70,553 shares.

Other marquee buyers included Franklin Templeton Mutual Fund, which bought 25,00,001 shares; Societe Generale, which bought 23,75,002 shares; Integrated Core Strategies (Asia) Pte. Ltd., which bought 17,50,002 shares; and Morgan Stanley Asia Singapore Pte., which reported two purchases of 12,58,752 shares and 17,00,002 shares.

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Goldman Sachs Bank Europe SE bought 14,25,002 shares, while Goldman Sachs Investments Mauritius I Limited purchased 12,50,002 shares. Citigroup Global Markets Mauritius Private Limited bought 15,00,002 shares, showed the exchange data.AAGAM Investments, Bajaj Life Insurance Limited, Viridian Asia Opportunities Master Fund, BNP Paribas Financial Markets, BofA Securities Europe SA, Canara Robeco Mutual Fund, Franklin Templeton Investment Funds – Franklin India Fund, Ghissallo Master Fund LP, HSBC Mutual Fund, Kotak Securities Limited, Kuwait Investment Authority and Robeco Capital Growth Funds were among the other buyers.

Meanwhile, Meesho shares ended Monday’s session at Rs 205.07 apiece on the NSE, down Rs 0.62, or 0.30%, from the previous close of Rs 205.69 per share. The stock opened at Rs 207.24 and moved between an intraday high of Rs 212.65 and a low of Rs 201.50.

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

Homebuyers and renters around the country are facing a challenging landscape in terms of affordability, and a recent report identified seven markets where conditions make renting a significantly more affordable option than buying.

An analysis by Apartments.com identified the cities of Austin, Texas; Sacramento, California; Denver, Colorado; Portland, Oregon; Baltimore, Maryland; Salt Lake City, Utah; and Orlando, Florida, as metro areas where the average monthly rent is noticeably lower than the median monthly mortgage payment.

The two markets that top the list, Austin and Sacramento, shared the distinction of having average rents that are more than $1,000 lower than the median monthly mortgage payments.

Austin’s median monthly mortgage payment is $2,475, while the average monthly rent was $1,421, leading to a difference of $1,054. In Sacramento, the median monthly mortgage payment is $2,621 compared to an average rent of $1,579 per month, giving renters a $1,042 edge in affordability.

DALLAS EMERGES AS MAGNET FOR WEALTHY BUYERS AS HIGH TAXES WEIGH ON LUXURY MARKETS, BROKER SAYS

Dillar Schwartz, an eXp real estate agent based in Austin, told FOX Business in an interview that the housing market in central Texas remains very active for both homebuyers and renters.

“We have seen an uptick in rental leads and rental inquiries, and right now, they’re across the board. They’re relocating, they’re wanting to try different subdivisions. They’re moving here for work, and there’s not one big industry that’s moving people here,” Schwartz said.

“In terms of buyers and sellers, I’m seeing more first-time homeowners come through. We’re seeing a lot of the renters who inquired, and we helped find homes about two years ago, they’re now working on getting into homeownership,” she explained, noting that there’s a “really nice mix of sellers” with listings across price points.

“There’s a nice blend. However, I feel like this blend didn’t happen until about four or five months ago – there were a lot of people just on the sidelines,” she added.

SLOWING LABOR MARKET CREATES NEW HURDLE FOR FIRST-TIME HOMEBUYERS FACING AFFORDABILITY SQUEEZE

For prospective homebuyers and renters looking to move to the Austin area, Schwartz said one of the first questions her practice likes to address is the cash reserves the home shoppers have available given the costs.

“Right now, due to Texas insurance, property taxes and the rates being high, the cost right out the gate to get in a home without even discussing a down payment is fairly high, and that trickles into the monthly payments,” Schwartz said.

She said that while prices in Austin have fallen, those costs are “really starting to shock buyers once they have that conversation with a lender,” adding that while rental rates are also lower, they can face a financial hurdle in getting into an apartment.

Schwartz said that for an apartment renting at about $2,000 a month, the prospective renter would need to be able to cover not only that first month’s rent but also a deposit of around $2,000, plus application fees and background checks that may run around $100 per person.

“When you add all of those costs, the average renter is going to need about $5,000 cash as well to make that move,” she said, noting that can jam consumers in certain situations.

THESE ARE AMERICA’S HOTTEST HOUSING MARKETS – SEE WHICH AREAS MADE THE LIST

Schwartz said in most of central Texas, which her practice covers, “we can find you a place that’s a little bit more affordable to rent than to purchase right now.”

The Austin real estate market has solid levels of housing inventory available for both would-be homebuyers and renters, with the region having taken steps to ease regulatory barriers to increasing the supply of housing in recent years.

Schwartz said the city recently added a new position to its permitting department that aims to expedite the process faced by homebuilders and people flipping homes, as well as allowing more infill development on lots to increase the number of homes.

“In Austin right now, if you truly do need to buy a home and want to invest in yourself and start building that wealth, all it takes is time and patience by working with a true professional – there are deals out there,” Schwartz said.

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The same holds true for renting, she added, noting that demand remains strong and that renters are still going to need cash available to get into a property.

“The opportunity is there. The Austin market just takes a little bit more time and patience to navigate,” she said.