The first, MV Glen Sannox, was finally delivered in November 2024, while MV Glen Rosa is due for completion by the end of this year.

The shipyard recently completed sub-contracting work for BAE Systems for new Type 26 frigates and currently has no confirmed future orders.

In March, before the Holyrood election, the Scottish government announced plans to directly award the shipyard contracts for four future vessels.

It said the vessels – two small CalMac ferries, a fisheries research ship and a marine protection vessel – would provide a “bridge to the future” for the yard.

The then Economy Secretary Kate Forbes said the government had “done a lot of the upfront work in terms of scoping out, securing some of the legal advice about what is possible”.

But she added that engagement with the Competition and Markets Authority would be required.

Stripping out bonuses, wage growth stood at 3.5 per cent the ONS said

Wage growth surpassed expectations as pay settlements in the public sector significantly outpaced those in the private sector, according to newly released figures. Official data has revealed that wage growth, inclusive of bonuses, hit 4.1 per cent between April and June, against a market forecast of four per cent.

This nonetheless fell short of the 4.3 per cent recorded in the previous month. Stripping out bonuses, pay growth stood at 3.5 per cent, which also marginally exceeded the projections of City economists and investors.

The stronger-than-anticipated pay growth was, however, predominantly driven by the public sector. Average earnings growth reached 5.5 per cent in the public sector, compared with just 2.9 per cent in the private sector, as reported by City AM.

“The labour market picture is little changed overall, with some softening still evident,” said Liz McKeown, director of economic statistics at the ONS.

“Private sector pay growth has continued to ease, while public sector pay growth remains elevated due to the timing of the latest NHS pay awards.”

The ONS further estimated that the unemployment rate held steady at 4.9 per cent, exceeding economists’ projections.

This coincided with the number of payrolled employees rising by 3,000 between April and May, though remaining approximately 85,000 below figures recorded a year earlier.

Meanwhile, the number of vacancies fell by 6,000 to 707,000, representing its lowest point in over five years. “The latest decrease was driven mainly by smaller businesses, which cite labour and operating costs as reasons for not hiring new staff or replacing leavers,” McKeown added.

Fresh data could signal troubled times ahead for the UK economy, with the Bank of England and City economists warning that the labour market may deteriorate later this year.

The Bank has forecast the unemployment rate to reach 5.2 per cent, while more pessimistic projections place the peak closer to 5.5 per cent. Subdued wage growth and increasing unemployment could alleviate concerns that the Bank is poised to raise interest rates in response to the energy price shock stemming from ongoing trade disruption across the Middle East.

The Conservative opposition is stepping up its pressure on the Labour government over job losses.

Under a new pledge described as a “benefit of Brexit“, the party has announced it would scrap EU regulations governing young people’s capacity to work.

Rules requiring 16 and 17-year-olds to take a rest period of 48 consecutive hours in any given week would be abolished, while young people would also be permitted to work later into the night at weekends during term time and at any hour outside of term time.

Party officials stated they were drawing upon findings from the Alan Milburn review on Neets, young people not in employment, education or training. The paper by Milburn found that work for young people helped “build on confidence, learn the habits of work and show employers what they could do”, though opportunities to do so had since ended.

As per a regulatory filing on the BSE released on Friday, the company’s Q1 profit after tax declined over 5% year-on-year to Rs 158.62 crore, from Rs 168.09 crore in the corresponding quarter of the previous year. Revenue from operations stood at Rs 2,227.63 crore, as compared to Rs 1,892.48 crore in the same quarter last year.

What Motilal Oswal said

Domestic brokerage firm Motilal Oswal reiterated its Buy rating on the stock, with a target price of Rs 3,379, citing in-line earnings despite margin miss. Tube Investments India’s core business remains fundamentally strong, with the Engineering business having delivered 17% volume growth and exports growing in double digits, while MFP revenue growth improved to 11.5% during the quarter, the brokerage stated in its note.

Despite near-term margin headwinds, Tube Investments of India offers diversified revenue streams, with steady growth in the core business (~7% S/A PAT CAGR over FY26-28E) and CG Power, as well as the optionality of new businesses incubated under the TI-2 strategy, according to the brokerage.

Two of the standalone entity’s business segments, viz., Engineering and Metal Formed divisions, which contribute ~80% of its revenue, are dependent on the auto business, the brokerage stated. While the GST rate reduction has helped revive auto demand across segments, the near-term outlook for the sector has turned cautious given the potential impact of the ongoing geopolitical issues on the economy. Motilal Oswal expects the standalone business to post a steady CAGR of 8%/8%/7% in revenue/EBITDA/PAT over FY26-28.

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Management outlook

Management remains constructive on the near-term demand environment, with strong momentum visible across most vehicle categories and geographies, as per the brokerage report. Engineering volumes and exports are expected to remain healthy over the next one to two quarters, while new product development and customer relationships provide additional growth support. Margin recovery remains a key near-term catalyst, with full recovery of steel inflation and potential recovery of other input-cost inflation expected to progressively improve profitability.
Overall, the company remains focused on scaling its core businesses while investing in medical, CDMO, EV mobility, battery manufacturing, and other emerging businesses to build multiple growth engines.

Numatic International operates across several buildings within the Millfield industrial estate in Chard

The company behind Britain’s famous Henry vacuum cleaner is planning to install nearly 1,000 solar panels on its factory roof, following the approval of its planning application.

Numatic International operates across several buildings within the Millfield industrial estate at the eastern edge of Chard providing employment for approximately 1,200 local residents.

The firm submitted an application in early July to mount 943 photovoltaic panels on ‘Building 34’, which sits between Millfield and the Tapstone Retail Park (home to the town’s Greggs outlet).

Somerset Council has now granted approval for the panels, meaning they could be fitted and up and running before Christmas.

Building 34 is primarily accessed via Millfield, with its own car park situated a short distance south of a planned 70-bed care home (which received planning permission in May 2024).

The panels are expected to generate around 457kW at peak capacity, spread across a total area of 3,700 sq m.

A spokesperson for SunGift Solar (acting on behalf of Numatic) said: “The proposed solar panel equipment has, as far as practicable, been sited to minimise its effect on the external appearance of the building and the amenity of the area.

“The equipment will be removed as soon as reasonably practicable when no longer needed. The effect of glint and glare are considered to be minimal and localised.”

Numatic obtained approval in March 2025 to construct its own solar farm at the eastern edge of the Millfield industrial estate – adjacent to land safeguarded for part of the long-anticipated Chard eastern relief road (ERR).

This site was initially designated for a research and development facility, but priorities shifted following Numatic’s acquisition and redevelopment of the former Oscar Mayer site within the existing industrial estate.

The Building 34 proposals were granted approval by the council’s planning officers using their delegated powers, rather than through a public decision by its planning committee south (which handles significant applications within the former South Somerset area).

Planning officer Mike Farthing said: “Photovoltaic equipment is increasingly commonplace and other non-domestic buildings across the county have had similar equipment installed for many years.

“The equipment would be seen in the context of the existing building on which they would be installed, as well as the wider established complex.

“The orientation has been considered and overall, it is considered that the photovoltaic equipment, so far as practicable, would be sited so as to minimise its effect on the external appearance of the building.

“It does not sit close to any neighbouring properties which may adversely be impacted by glare from the proposed panels.”

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SEOUL — South Korea’s benchmark KOSPI index fell 114.01 points, or 1.63%, to 6,863.93 as of 3:19 p.m. local time Tuesday, reversing a sharp early-session rally that had briefly pushed the index back above the 7,200 mark, as institutional selling and renewed concern over Middle East instability weighed on investor sentiment.

The index’s dramatic intraday swing unfolded over the course of the trading day. According to Trading Economics, the KOSPI opened Tuesday’s session with gains exceeding 3%, briefly reclaiming the 7,200 level for the first time in recent sessions, only to steadily give back those gains as the day progressed. By 1:50 p.m. local time, the index had fallen back to 6,925.65, down 0.75% from the previous session, before losses deepened further into the afternoon close.

According to reporting from the Asia Business Daily, the reversal was driven primarily by heavy selling from institutional investors, who were net sellers of 660.6 billion won during the session, even as both individual and foreign investors remained net buyers. Individual investors purchased a net 373.4 billion won worth of shares, while foreign investors added a net 346 billion won, underscoring a split between retail and foreign buying interest on one side and institutional caution on the other.

The broader shift in sentiment coincided with escalating concerns over instability in the Middle East. According to Trading Economics, global risk appetite was limited Tuesday after the expiration of a 60-day window for the United States and Iran to reach a peace agreement passed without an extension, heightening fears of renewed conflict and potential disruptions to oil supplies moving through the Strait of Hormuz. That uncertainty pushed oil prices higher and lifted U.S. Treasury yields, dynamics that have historically weighed on risk appetite for export-driven, semiconductor-heavy markets such as South Korea’s.

Adding a further headwind for South Korean exporters, the United States imposed a 15% tariff on South Korean drones and related components, while separately flagging the country for risks tied to China-linked transshipment activity, according to Trading Economics. Investors have also continued closely monitoring ongoing trade negotiations between Seoul and Washington, as South Korea works to resolve outstanding issues connected to its previously announced $200 billion investment commitment to the United States.

Tuesday’s reversal followed a period of strong gains for the KOSPI heading into the new trading week. The index climbed 2.42% to close at 6,978 points last Friday, extending a rally to its highest level in more than three weeks, driven by strength in U.S. stocks and semiconductor shares. That advance came after the S&P 500 reached a fresh record high following a U.S. producer price report that showed prices unchanged in July, below expectations, easing broader inflation concerns and reducing expectations for further Federal Reserve tightening.

The improved risk sentiment heading into Friday’s session had lifted Asian technology stocks broadly, with SK Hynix jumping 3.26% and Samsung Electronics advancing 2.43% that day. Other notable gainers included SK Square, up 3.31%, Hyundai Motor, up 8.24%, LG Energy Solution, up 1.09%, HD Hyundai Heavy Industries, up 2.82%, Kia Corporation, up 3.13%, and Hyundai Mobis, up 7.05%, according to Trading Economics data. The KOSPI had been closed Monday for a substitute public holiday marking Liberation Day, meaning Tuesday’s session represented the market’s first opportunity to react to developments over the extended weekend, including the expiration of the U.S.-Iran negotiating window.

The KOSPI’s swings over the past several weeks illustrate a market that has continued to experience extraordinary volatility throughout 2026. According to Investing.com data, the index has traded within a 52-week range spanning from 3,079.27 to 9,385.59, and remains up 116.33% over the trailing 12 months despite the sharp reversals that have periodically interrupted its overall upward trajectory this year. Earlier in the year, the index suffered a series of historic single-day collapses, including a 10.84% overnight plunge that dragged Samsung Electronics down 13.39% and SK Hynix down 14.65% in a single session, alongside a separate episode in which the index fell below the 8,000 level and triggered a sell-side sidecar, part of a stretch of market volatility that at one point surpassed the sidecar and circuit-breaker activation record previously set during the 2008 global financial crisis.

Samsung Electronics and SK Hynix together account for roughly half of the KOSPI’s total market capitalization, meaning swings in the two chipmakers’ share prices have continued to serve as the primary driver of the broader index’s dramatic movements throughout the year, a pattern that held true again during Tuesday’s sharp intraday reversal.

South Korean President Lee Jae-myung has continued to emphasize efforts to strengthen the country’s capital markets and address the long-standing valuation gap between Korean equities and their global peers, often referred to as the “Korea discount.” Following an earlier milestone in which the index first surpassed the 6,000 level, Lee reaffirmed his administration’s commitment to structural reforms aimed at driving a broader re-rating of Korean equities, a policy priority that has continued to underpin investor interest in the market even amid its persistent volatility.

With the U.S.-Iran negotiating deadline now expired and South Korea’s own trade discussions with Washington still ongoing, investors are likely to remain focused in the coming days on how developments in the Middle East evolve, alongside any further updates on South Korea’s $200 billion investment commitment and the broader tariff landscape facing Korean exporters. Given the KOSPI’s demonstrated pattern of sharp single-session reversals throughout 2026, market participants are likely to brace for continued volatility as the index navigates this latest combination of geopolitical uncertainty and shifting institutional positioning.

TUCSON, Ariz. — Human remains were discovered in a desert area roughly 15 miles from the home of Nancy Guthrie, the missing mother of NBC “Today” show co-anchor Savannah Guthrie, but authorities said Monday there is no indication the remains are connected to her disappearance, which has now stretched more than six months without an arrest.

The Pima County Sheriff’s Department said in a statement posted to social media Monday afternoon that Search and Rescue deputies were responding to reports of human remains found in a desert area near West Ajo Way and South La Cholla Boulevard in southwest Tucson. “The remains appear to have been at the location for an extended period of time,” the department said. “At this time, there is no indication they are connected to the Nancy Guthrie investigation.” The department added that additional information would be released as it becomes available.

According to CNN, deputies were seen at the reported location Monday, on a hillside covered in saguaro cacti overlooking a busy four-lane highway in southwest Tucson. The residential area sits just outside the city limits, one turn off Ajo Way, leading to a handful of homes with long driveways. The sheriff’s department declined to answer CNN’s questions regarding who discovered the remains, when they were located, or the basis for officials’ early determination that the find appeared unconnected to the Guthrie case.

Nancy Guthrie, 84, vanished from her home in Tucson’s Catalina Foothills neighborhood sometime between the night of Jan. 31 and the early morning hours of Feb. 1. According to investigators, she was apparently kidnapped from her residence without her phone or critical medications. A source has told CNN that investigators do not currently have a leading theory regarding a motive for her disappearance.

Monday’s discovery is not the first time remains have surfaced in the vicinity of the Guthrie investigation without ultimately being connected to the case. On Feb. 7, less than a week into the search for Guthrie, deputies responded to a separate discovery of human remains near Irvington and San Joaquin roads. At the time, the sheriff’s department said there was “nothing criminal” about that earlier find, and the department’s cold case unit had responded to that scene.

The search for Guthrie has continued for more than six months without a named suspect, person of interest, or identified vehicle connected to her disappearance. In July, nearly six months after she went missing, officials released the full contents of a ransom note and a separate follow-up letter addressed to the Guthrie family, which claimed Nancy Guthrie had died. Authorities released the documents publicly in hopes of generating new leads in the case.

Pima County Sheriff Chris Nanos has continued to describe the investigation as active despite the lack of a break in the case. “We have so much DNA to sort through. We have so much, in terms of video evidence, to look at,” Nanos said in comments shared as part of a “Today” show news segment. “So I’m still positive that we’re going to resolve this case.”

The investigation has drawn extensive national attention given Guthrie’s family connection to one of American television’s most recognizable morning news programs. The Guthrie family has publicly appealed to those responsible for Nancy Guthrie’s disappearance, offering full cooperation in exchange for information. Savannah Guthrie has personally offered a $1 million reward for information leading to her mother’s safe recovery, while the FBI has separately offered an additional $100,000 reward, and the nonprofit organization 88-CRIME has offered a further $102,500, bringing the total reward pool available to more than $1.2 million for information leading to a resolution of the case.

Investigators have pursued numerous leads throughout the monthslong search, including reviewing extensive doorbell camera footage, DNA evidence and hundreds of individual tips submitted by the public. In February, investigators recovered a pair of black gloves along a road roughly a mile and a half from Guthrie’s home, matching the description of gloves worn by an individual seen tampering with a camera at Guthrie’s front door on the morning of her disappearance, according to prior reporting citing the New York Post. Separately, authorities have had to publicly dispute unverified claims circulating on social media, including a viral video purporting to show a 911 call reporting a ski mask discovered roughly 135 miles from Tucson that matched the description of clothing worn by a person of interest in the case. A Pima County Sheriff’s Office spokesperson told Fox News Digital the department had “not been advised of anything like that” regarding the alleged ski mask discovery, adding, “so this cannot be confirmed.”

The department has continued providing periodic updates on the investigation’s status even in the absence of major breakthroughs. Earlier in the case, the sheriff’s department noted in a public statement that “the Nancy Guthrie investigation is ongoing,” while emphasizing that “no suspects, persons of interest, or vehicles have been identified” and that press briefings would be scheduled only if significant developments occurred.

Anyone with information related to Guthrie’s disappearance is urged to contact the FBI at 1-800-CALL-FBI or the Pima County Sheriff’s Department directly at 520-351-4900.

As of Monday evening, authorities had not provided further details regarding the identity of the remains found near West Ajo Way and South La Cholla Boulevard, nor had they indicated when a formal identification process, which would typically involve the county medical examiner’s office, might be completed. The sheriff’s department’s characterization that the remains had been at the location for an extended period suggests any eventual identification could take additional time, particularly if forensic testing is required to determine both the identity of the individual and the circumstances surrounding their death.

This remains an active and ongoing investigation, and authorities have said further updates will be released as new information becomes available, both regarding the discovery of the remains near Tucson and the broader search for Nancy Guthrie, which continues more than six months after her disappearance first drew national attention.