SAN DIEGO — Onego Bio and Zen Waffles have formed a commercial partnership to use Onego Bio’s Bioalbumen ingredient in Zen Waffles high-protein waffles.

Zen Waffles, New York, manufactures high-protein waffles that are available in classic, chocolate chip, blueberry, coconut and white chocolate strawberry varieties.

The waffles are formulated with cottage cheese, eggs, egg whites, almond flour, monk fruit sweetener, casein protein, vanilla extract, potassium sorbate and baking powder.

The waffles contain 23 grams of protein across the classic, blueberry and coconut varieties, and the chocolate chip flavor contains 28 grams of protein.

Onego Bio’s Bioalbumen is a non-animal egg protein that is manufactured via precision fermentation with the filamentous fungus, Trichoderma reesei, the company said. 

Bioalbumen functions similarly to traditional egg protein while offering food manufacturers a non-animal alternative.

“At Zen Waffles, our goal is to make high-protein foods convenient and delicious,” said Eugene Komissarov, co-founder of Zen Waffles. “Bioalbumen offers a great source of high-quality protein, helping us make products consumers already love nutritious and satisfying.”

Onego Bio received a “no questions” letter from The US Food and Drug Administration for its egg replacer, which the agency said is generally recognized as safe (GRAS) in 2025.

“In a waffle, egg protein does a lot of work: it provides structure for a light, tender interior and supports browning for a golden, crisp exterior, all while delivering high-quality protein,” said Maija Itkonen, co-founder and chief executive officer of Onego Bio. “Bioalbumen brings that multifunctionality together, giving food manufacturers a new way to meet growing demand for protein.” 

Enjoying this content? Learn about more disruptive startups on the Food Entrepreneur page.

The Merchant Discount Rate for UPI payments in capital market transactions has been set at a nominal 0.02% of the transaction value, with a maximum cap of Rs 300, keeping the fee lower than standard commercial transaction rates to support retail participation in formal financial markets.

The MDR will apply to capital market-related payments, including payments towards mutual funds, securities, stockbrokers and dealers. UPI is one of the key payment channel for retail investors. It is widely used for IPO applications, mutual fund transactions and transfers linked to broking accounts.

NSE MD and CEO Ashishkumar Chauhan said the MDR on UPI could affect trading volumes routed through UPI in the short term, but the impact is likely to stabilise over time. “MDR on UPI might impact trading volumes via UPI in the short term, but is likely to stabilise in the long term,” Chauhan said.

For the market, it remains to be seen how brokers, mutual fund platforms and other intermediaries treat the cost. If the fee is absorbed by intermediaries, the impact on investors may remain limited. If it is passed on, investors could see a small additional cost on payments linked to market transactions.

At 0.02%, the fee works out to Rs 20 on a Rs 1 lakh transaction. The Rs 300 cap also limits the charge on larger transactions. That makes the capital market rate much lower than typical commercial transaction charges.

The near-term impact may be felt more in frequent trading-related payments than in long-term investment flows. Mutual fund investors making monthly SIPs or occasional lump-sum payments may not change behaviour much. Active traders who move funds more often may be more sensitive to any added cost.
Disclosure: This article has been written by Podishetti Akash, who is not a SEBI-registered Research Analyst or an Investment Adviser. Podishetti Akash and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment.

MANCHESTER, England — Manchester United’s academy has been rocked by a request from 15-year-old forward JJ Gabriel, widely regarded as one of the most gifted prospects to emerge from the club’s youth system in years, to have his contract cancelled following what reports describe as a breakdown in relations between his family and the club.

Gabriel, nicknamed “Kid Messi” for his dazzling dribbling and technical ability, had been expected to make his senior debut in Wednesday night’s EFL Cup match against Brighton at Old Trafford. Instead, the Enfield-born youngster will not be considered for the squad after informing the club of his desire to end his contract, which had been due to expire at the end of the season.

Under Premier League academy regulations, United are not obligated to grant the request. The rules governing youth registrations state that a player’s registration may only be cancelled if the club, the player and the player’s parent or guardian all agree. If the parties cannot reach agreement, any of them may ask the Premier League to issue a binding decision on the termination request. United are said to retain hope that the situation can still be resolved, though the rules leave much of the immediate decision in Gabriel’s and his family’s hands.

The precise cause of the breakdown between Gabriel’s family and the club has not been made public, though a lack of clarity around his path to first-team football is thought to be a contributing factor. Gabriel has trained with United’s senior squad and Under-21 side at various points this season, but he was left off the club’s Champions League squad list, a decision that denied him the chance to feature in the competition. That exclusion meant he was ineligible to play against Azerbaijani side Sabah in the Champions League last week. He instead featured for United’s youth side against the same opponent in the UEFA Youth League, scoring a hat-trick in a lopsided win. Shortly afterward, Gabriel removed all references to Manchester United from his social media accounts.

Gabriel’s situation has drawn comparisons to how Arsenal has handled a similarly young forward, Max Dowman, who played for the Gunners in a Champions League victory over Slavia Prague last season at the same age of 15 and has since made further first-team and Premier League appearances, contributing to Arsenal’s title-winning campaign. The contrast between the two clubs’ approaches to fast-tracking teenage talent has been cited as part of the broader context surrounding Gabriel’s decision to seek an exit.

Gabriel joined Manchester United’s academy at age 11, and his reputation has grown rapidly since. Manchester United great Ryan Giggs, who himself broke into the club’s first team as a teenager, spoke glowingly of Gabriel’s potential in a recent podcast appearance alongside Rio Ferdinand. “He’s sort of a generational talent,” Giggs said. “There’s no point in going out on loan because he’s at the best place and he’d be dipping in and out of the first team. So that experience is invaluable. You know, not only the games and the training, but actually travelling with the team, seeing the expectation of Manchester United, you’re seeing all sort of, the focus is so huge on United. You need to get used to that.”

Gabriel is not yet old enough to sign a professional contract, which Premier League rules restrict to players aged 17 or older, or a scholarship deal, available from age 16. He turns 16 on October 6, a date that will open the door to formal scholarship terms with whichever club he ultimately represents.

News of Gabriel’s request is expected to trigger significant interest from rival clubs. Manchester City had previously attempted to sign the youngster, and reports have also linked Arsenal and a range of leading European clubs to his signature, interest that is likely to intensify now that his willingness to leave United has become public. Gabriel’s Irish passport, which allows him to play professionally within the European Union from age 16 rather than 18, has previously been cited as a factor drawing attention from clubs including Real Madrid, Barcelona and Bayern Munich.

This is not the first time Gabriel has considered leaving Old Trafford. He reportedly informed the club of similar intentions last summer, before United organized an emergency meeting shortly after he returned from a break, ultimately convincing him and his family that he had a genuine pathway to the first team. According to reports at the time, Gabriel had been “emotional at the prospect of leaving a club he loves representing” before deciding to stay following that intervention. The current standoff suggests those assurances have not been sufficient to keep him committed to the club on a longer-term basis.

Gabriel was named the Premier League Under-18s Player of the Season last term after recording 26 goals and four assists in 29 appearances, while helping United’s Under-18 side finish second in its regional league and reach the finals of both the FA Youth Cup and Premier League Cup, even though the team ultimately fell short in all three competitions.

Manchester United have not issued a public statement addressing Gabriel’s request as of the latest reporting, and it remains unclear whether the two sides will reach an agreement to formally cancel his registration or whether the dispute will need to be referred to the Premier League for a binding decision. For now, Gabriel’s immediate playing future, including whether he is included in the club’s squad for upcoming fixtures, remains unresolved.

This article was written by

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U.S. Treasury yields rose on Tuesday, with the benchmark 10-year Treasury note yield hitting its highest level since July 2007 as investors brace for what may be the first in a series of rate hikes from the Federal Reserve as it tries to tamp down inflation pressures.

Bond markets around the globe saw yields rise, in part due to continued pressure from rising oil prices, which have boosted expectations for central banks around the globe to raise interest rates.

The yield on the benchmark U.S. 10-year Treasury note rose 4.7 basis points to 5.008% after climbing to 5.041%, its highest since July 19, 2007, and was on track for its sixth advance in the past seven sessions.

The Telegraph reported the Bank of England was poised to announce this week that it will stop selling long-dated government bonds in order to free up cash for the government.

Crude prices were up about 2% as supply concerns were elevated after attacks on Saudi Arabian energy infrastructure left the kingdom’s East-West Pipeline offline, extending gains after Libya said it may declare force majeure after protests suspended production at oil fields.

“Any inflation data that we’ve had, any news out of events that are happening overseas for the geopolitical concerns, anything that’s budget-related outside the U.S. or in the U.S., everything keeps pointing in the same direction, there’s been no relief at all,” said Jim Barnes, director of fixed income at Bryn Mawr Trust in Berwyn, Pennsylvania.
“It’s all basically the same type of story, a story that pushes yields up, there’s been no catalyst to reverse the current momentum that we’ve seen in bond yields.”The yield on the 30-year bond added 4.5 basis points to 5.373% after earlier hitting 5.401%, its highest since June 13, 2007.

More supply will come to the market later on Tuesday when Treasury auctions $13 billion in 20-year bonds.

Expectations for a rate hike from the Fed have been steadily increasing in recent weeks, with markets now pricing in a 92.7% chance for a hike for at least 25 basis points at the central bank’s policy announcement on Wednesday, according to CME FedWatch, up from 59.4% a week ago and 33.1% a month ago.

A closely watched part of the U.S. Treasury yield curve measuring the gap between yields on two- and 10-year Treasury notes, seen as an indicator of economic expectations, was at a positive 34.5 basis points.

A decision to hike rates could leave new Chairman Kevin Warsh in a tight spot, as President Donald Trump picked Warsh with the explicit expectation that he would cut interest rates.

The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations for the Fed, gained 2.7 basis points to 4.661% after rising to 4.688%, its highest since July 5, 2024.

Markets are now pricing in nearly 100 basis points of hikes over the next 12 months, and Bank of America U.S. economist Aditya Bhave said in a note that he continues to expect 75 basis points worth of hikes from the Fed this year, and that by moving quickly, the central bank will have “a better chance of quelling inflation and keeping a lid on long-end rates.”

Morgan Stanley’s Chief U.S. Economist Michael Gapen said he now expects two hikes of 25 basis points from the Fed this year, in September and December.

The breakeven rate on five-year U.S. Treasury Inflation-Protected Securities (TIPS) was last at 2.418%, unchanged from Monday’s close.

The 10-year TIPS breakeven rate was last at 2.377%, indicating the market sees inflation averaging about 2.4% a year for the next decade.

Canadian Prime Minister Mark Carney set out his government’s artificial intelligence strategy to global investors yesterday, pledging to give every post-secondary student in the country access to a trusted AI agent.

Speaking at the Canada Investment Summit in Toronto, Carney said the AI for All strategy would aim to capture the technology’s potential “across the entire intelligence infrastructure stack: the clean energy that powers it, the compute and cloud that run it, and the frontier AI, quantum, and robotics that will transform our economy.”

He told delegates: “Canadians, some of them in this room, helped develop AI.”

The speech formed part of a wider pitch in which Carney said the government’s goal was “to catalyze $1 trillion of investment in Canada over the next five years, in energy, in transportation, in tech and data, in defence, and beyond.” The figure is in Canadian dollars.

A focus on people

Carney said the strategy was “distinguished by a singular focus on empowering people.” He said the government would build AI literacy across Canada and “help our workers, our businesses, and our government adopt AI to become more productive and efficient.”

He linked the approach to Canada’s social programmes. “We believe in equal access to education, to health care, and to social services,” he said, adding that “those same principles inform our approach to artificial intelligence.”

The strategy was launched on 4 June. In a release from the prime minister’s office, the government said AI for All “targets an additional $200 billion of economic growth to create 250,000 new AI-related jobs over the next five years.”

The same release set a goal to “increase AI adoption from just over 12% to 60% by 2034”, and said the strategy would provide up to 90,000 AI-related jobs and work placement opportunities for young Canadians. It said AI literacy would reach one million entry-level post-secondary students.

For businesses, the release said the government would “help small and medium-sized businesses adopt AI to support workers, raise productivity, and drive breakthroughs.” On infrastructure, it committed to “build a world-leading public AI supercomputer and invest in sovereign compute and cloud infrastructure.”

At launch, Carney said: “AI is here. The question is whether it will improve the lives of all Canadians or benefit only a few.”

Sovereignty and power

In yesterday’s speech, Carney placed AI within a broader push for what he called strategic autonomy. “Today, strategic autonomy extends to building partnerships in core capabilities across AI, payments, space, critical minerals, and clean energy,” he said.

He argued that combining domestic investment with the strengths of trusted partners abroad would “create greater scale for Canadian companies, greater resilience for our country, and greater opportunities for investors.”

Carney also pointed to energy, saying Canada had “the lowest-cost power in the G7 and the second-lowest-emission power in the OECD”, and said it plans to double its electricity grid. “If you need clean, affordable power, and who doesn’t, Canada is your answer,” he said.

He also said the government’s Defence Industrial Strategy would build on Canadian strengths including AI, cyber, quantum, robotics and autonomous systems, describing these as “dual-use applications that will drive innovation and productivity across the wider economy.”

Alongside the AI measures, Carney announced immediate expensing for most new capital investment, with software, patents and R&D among the assets that qualify.

In the UK, the government recently opened a £100m Sovereign AI procurement competition for British start-ups, while the Tony Blair Institute has warned the UK risks missing the AI boom without a hardware push.

SPOKANE, WASH. — A core value of Spiceology, a spice blend manufacturer, is cooking and eating should be joyous experiences.

The company was founded in 2013 by Pete Taylor, an executive chef, and Heather Scholten, a food blogger, with the intention to liven up the spice category. Since its establishment, the company has introduced more than 300 spices and spice blends for both foodservice and retail.

The company prides itself on its commitment to creating fresh versatile blends. Each blend is formulated with whole spice that’s domestically sourced.

Spiceology manufactures its blends in small batches, leading to fresher products, McLean said.

However, with premium ingredients comes premium prices.

“We don’t use extracts or artificial flavoring; we don’t do any funky stuff,” McLean said. “Those things are more expensive to include, and yet we feel it’s absolutely worth it.”

The company’s commitment to premium coincides with its commitment to flavor innovation.

“We have an obsession with breaking spices and flavor out of application prison,” McLean said. “Spiceology’s products are, in addition to being innovative, they’re versatile.

“You might get something like Greek Freak and put it on your chicken, and it’ll be delicious and blow your mind, but you might think, ‘Oh, boy, what if I put that on my asparagus?’ or ‘I could rim a glass with this.’ If you really think about the blend, you could put a whole meal around it.”

McLean said the company is data driven, using trends to map out its next class of spices.

Additionally, Spiceology collaborates with its consumers to test an experimental flavor through its Test Kitchen program. The company shares a flavor it is considering launching and, if enough consumers pledge to purchase the spice once it’s launched, it gets added to the company’s portfolio.

“Test Kitchen is really a fantastic way for us to engage with our audiences, find what they’re liking,” McClean said. “It’s a really fun way for us to make sure that flavor enthusiasts and our biggest fans are also the ones deciding what’s coming out in the coming weeks ahead for Spiceology.”

The company’s mission to elevate the spice category comes at an apt time, as younger consumers are interested in elevating comfort meals with experimental flavors.

“Younger consumers don’t just want the tried-and-true flavors, they are curious about what different flavor profiles might mean,” McClean said. “They’re curious about ways they could spice up, for lack of a better term, the food they received at home as children. Spiceology meets them where they are with high-quality ingredients, ideas and a community with whom they can share ideas and recipes.”

Spiceology’s portfolio is distributed to foodservice providers nationally and may be found at select retailers. McLean said consumers can expect to see the company’s products expand into regional grocery stores in 2027.