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The British Business Bank has published its latest annual Small Business Equity Tacker

Wales has experienced the biggest percentage fall in equity deals in the UK while their combined value have increased marginally, show new research from the British Business Bank.

According to its Small Business Equity Tracker 2026 the value of equity investments in Wales last increased 1% on 2024 to £152m.

One deal, the £107m raised by Cardiff University life sciences spinout Draig Therapeutics accounted, for 70% of the total. The research from the UK Government’s economic development bank also shows that Wales and parts of the north of England under-performed on their share of university spinouts.

While Wales accounted for 7% of incorporated spinouts, only 3% of those receiving investment. Wales experienced the biggest percentage fall of equity deals of any UK nation or region, down 45% to 44. Only Northern Ireland had fewer deals with 35.

For the UK as a whole deals were down 17% to 2,002 with their total value down 4% to £12.28bn. On value Wales made up just over 1% of the UK total and on number of deals 2.2%

Across the UK, equity markets remained challenging in 2025 with investors increasingly concentrating capital into fewer, larger transactions. London’s dominance continued to ease as investment fell, while Scotland, the South West and the North West all recorded strong growth in investment value.

Across the UK, AI companies accounted for a record 44% of smaller business equity investment in 2025 and 26% of all deals, with investment increasing by 48% year-on-year to £5.4bn across 527 deals.

In Wales, AI businesses raised £5.6m across eight deals in 2025, accounting for 18% of all equity deals. While investment activity remains at an earlier stage than in some parts of the UK, AI continues to represent an important area of innovation, with Welsh businesses increasingly attracting backing to develop new technologies.

Recent examples supported by the British Business Bank’s £130m Investment Fund for Wales – whose equity element is fund managed by Foresight – include Cardiff-based automation company Bots for That, which secured a £1.5m equity investment to support growth of its AI-powered software platform, and Cardiff University spinout Nisien.AI, which received backing to accelerate research and development, expand its workforce and bring new products to market.

Jessica Phillips-Harris, director, Wales, British Business Bank local growth team, said: “Equity investment in Wales was resilient in the face of a challenging year in 2025, demonstrating that investors continue to back ambitious Welsh businesses with strong growth potential.

“Artificial intelligence is becoming an increasingly important driver of investment activity across the UK, and Wales is benefitting through innovative businesses developing new technologies and attracting investor interest. At the same time, strong investment into sectors such as life sciences demonstrates the breadth of innovation taking place across Wales.”

Tamilnad Mercantile Bank witnessed a sharp uptick in its share price on Thursday, rising 4.52% to Rs 763.30, following the release of its provisional business update for the June 2026 quarter (Q1FY27). The stock’s momentum was supported by robust year-on-year growth across key banking metrics, reinforcing investor confidence in the lender’s steady expansion trajectory.

The bank reported total business of Rs 1,21,715 crore as of June 30, 2026, marking a strong 23.04% increase from Rs 98,923 crore in the same period last year. On a sequential basis, total business also advanced 5.76% from Rs 1,15,091 crore in the March 2026 quarter, indicating sustained operational momentum.

Growth was particularly strong in the advances segment, which stood out as a key driver. Gross advances surged to Rs 57,306 crore, up 27.01% year-on-year from Rs 45,120 crore. Sequentially, advances rose 7.36% from Rs 53,379 crore, reflecting healthy credit demand and continued expansion in lending activity.

On the liability side, deposits climbed to Rs 64,409 crore, compared to Rs 53,803 crore a year earlier, registering a 19.71% YoY growth. Deposits also rose 4.37% quarter-on-quarter from Rs 61,712 crore, indicating stable inflows and consistent customer confidence.

The bank’s CASA (Current Account and Savings Account) deposits showed a divergent short-term trend. CASA balances increased 16.94% year-on-year to Rs 16,852 crore, but declined 2.95% sequentially from Rs 17,365 crore in the previous quarter. This suggests a mild shift in deposit mix in the near term, despite strong annual growth in low-cost funds.

Over the past year, the stock has delivered a remarkable rally of around 65%, with the current market capitalisation standing at approximately Rs 11,582 crore. Its 52-week high stands at Rs 763.
From a technical standpoint, the 14-day RSI stands at 46.9, indicating neutral momentum, while the stock trades above 6 out of 8 key simple moving averages (SMAs), suggesting an overall bullish undertone in trend structure.In the March 2026 quarter, institutional interest in the stock improved, with Foreign Portfolio Investors (FPIs) increasing their holding from 4.95% to 6.19%. Mutual funds also began building or expanding positions, raising their stake from nil to 0.35%, indicating a gradual rise in institutional participation and confidence in the stock.

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

A World Cup jobs boom in the US has failed to materialise, with employment in restaurants, bars and hotels falling in June.

Analysts had expected the tournament, being hosted jointly by the US, Canada and Mexico, to lead to an increase in leisure and hospitality jobs.

But the sector saw a decline of 61,000 jobs last month, the Bureau of Labor Statistics (BLS) said on Thursday.

Overall employment in the US rose by 57,000 in June, which was lower than expected, while the unemployment rate dipped slightly to 4.2%.

The BLS’s previous release reported early signs of a jobs boom in May, with bars and restaurants ramping up hiring to prepare for the World Cup.

And a report by Goldman Sachs analysts expected June’s figures to show the competition boosting employment by around 40,000 jobs.

But, despite reports of travelling football fans drinking bars across the US dry, the growth went into reverse in June.

ING’s chief US economist James Knightley said leisure and hospitality was a “real area of weakness” in Thursday’s figures.

He added that the decline was “a major surprise given the World Cup is on and bars and venues are busy”.

“Admittedly, this sector had seen a 44,000 jump in May, but even so that is a surprising outcome,” he told the BBC.

Thursday’s jobs report included significant downward revisions to increases reported in previous months, with the number of jobs created in April and May now 74,000 lower than the BLS thought.

Knightley said June’s lower-than-expected overall increase, combined with the downward revisions, suggest “the decent uptick in jobs over the previous three months is not necessarily the start of a new trend”.

He added the figures make an interest rate hike later this month less likely.

Susannah Streeter, chief investment strategist at Wealth Club, said the slowdown in jobs growth opens the door to a “Goldilocks scenario” for the US economy, in which it could stay “not too hot, but not too cold”.

“Expectations of multiple rate hikes are fading away, with only one hike now fully priced in, and not until next year,” she added.

Is your holiday booked yet?

Finance expert Laura Pomfret shares her top tips for finding cheaper flights, from spotting rare error fares to knowing the best time to book. Plus, why airline bundles aren’t always the bargain they seem.

To watch this with subtitles go to BBC iPlayer and search for Morning Live from 02/07/2026

Vedanta Iron and Steel shares have delivered massive returns for investors, more than doubling in just 13 trading sessions since their market debut following the mega demerger from Vedanta.

Shares of the company were listed at Rs 20 apiece on NSE on June 15, as four new Vedanta companies debuted on the stock market to conclude what was one of the biggest corporate restructurings in India’s metals and mining space. The company’s market capitalisation at the time of debut stood at Rs 7,821 crore.

While analysts screamed ‘Buy’ on Vedanta Aluminium shares after the debut, the smallcap counter of Vedanta Iron and Steel quietly began to surge. The sharp rally in Vedanta Iron and Steel shares intensified after Azim Premji-backed Premji Invest’s PI Opportunities AIF V LLP bought shares worth Rs 102 crore after the stock’s market debut. PI Opportunities AIF V LLP, an investment arm of Premji Invest, which is owned by Indian billionaire businessman and Wipro Chairman Azim Premji, bought nearly 4.84 crore shares worth Rs 101.68 crore at Rs 21.02 apiece through a bulk deal.

Also read: Vedanta Iron & Steel shares list at Rs 22 on BSE as mega demerger concludes

Vedanta Iron and Steel shares hit the 5% upper circuit in nine out of its first 10 sessions on Dalal Street. The stock hit the 10% upper circuit for the second consecutive session today to trade at Rs 42.65 apiece on NSE.

This marks a whopping 113% surge from its listing price in just 13 sessions since market debut. The company’s market capitalisation has also more than doubled to Rs 16,677.81 crore.
Also read: Vedanta demerger unlocks 20% value; Aluminium arm becomes most valuable

About Vedanta Iron and Steel

Vedanta Iron and Steel has operations spanning India and Africa, and is focused on iron ore exploration, mining and processing. It also produces high-quality steel, wire rods, TMT bars, pig iron, ductile iron (DI) pipes, ferro-silicon, cement and metallurgical coke.The company on Tuesday said that stock exchanges have asked to clarify any reason for the significant price movement seen in the counter. The company responded by saying that there is no material event, information, or announcement in this regard.

How are the other demerged Vedanta stocks performing?

Vedanta Aluminium Metal shares jumped 4% today, but have declined nearly 10% since listing. Vedanta Oil and Gas shares meanwhile jumped nearly 11%, extending sharp gains after the firm received ICRA AA+ (Stable) rating.

Vedanta Power shares, meanwhile, jumped over 5% today.

Also read: Vedanta Aluminium vs Power vs Oil & Gas vs Iron & Steel | Which stock should you buy?

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