LONDON — Prince Harry and Meghan Markle, the Duchess of Sussex, surprised the world this week with news that they plan to move back to the United Kingdom more than six years after stepping away from their senior royal roles and settling in Montecito, California.

According to the BBC, the decision was made relatively recently, with King Charles III only informed of the couple’s plans on Sunday, Aug. 16. A source familiar with the matter told NBC News that Charles “welcomes the opportunity” to see more of the Sussex family in a private and personal capacity. According to The Telegraph, which first reported the move, the couple’s children, 7-year-old Archie and 5-year-old Lilibet, are set to begin the school year in the U.K. this September.

The location of the family’s new home is being closely guarded, though multiple outlets, including ABC News and CNN, report the family intends to settle in a private, non-royal residence outside London rather than returning to any official royal property. NewsNation similarly reported the family will be staying in a non-royal home, with its precise location undisclosed.

Crucially, the move does not signal any return to official royal duties. A source told ABC News that Charles has made clear there will be no alteration to Harry and Meghan’s status as private individuals and non-working royals, consistent with the arrangement the couple themselves requested when they stepped back in 2020. CNN reported the same assurance, noting the king has been explicit that the Sussexes will remain non-working members of the family. The couple will reportedly continue their professional ventures from the U.K., including Harry and Meghan’s production work through Archewell and Meghan’s separate lifestyle brand.

The announcement follows a significant family reunion earlier this summer. Charles and Camilla, Queen Consort, met with Harry, Meghan, Archie and Lilibet during a visit to the U.K. in July, according to a royal source who confirmed the meeting to ABC News. That gathering marked the first time Charles and Camilla were known to have seen Meghan and their grandchildren since 2022. Notably, the Sussexes were not known to have seen Prince William, Catherine, the Princess of Wales, or their three children during that visit. According to The Telegraph, as cited by NBC News’ Today, Harry and Meghan’s decision to relocate was not actually discussed during that July visit itself, meaning the substance of the move appears to have been finalized separately and communicated to the king only days before this week’s public announcement.

Sky News royal reporter Laura Bundock told Variety that the July trip appeared to represent a meaningful turning point in the family’s relationships. “I think they had a really good trip here in the summer,” Bundock said, noting that the visit had also included time with relatives connected to Harry’s late mother, Princess Diana, some of whom Archie and Lilibet were meeting for the first time.

The relationship between Harry and his brother, William, remains a considerably more complicated matter. According to Variety, the bond between the two brothers has been described as severely damaged following the 2023 publication of Harry’s memoir, “Spare,” and the couple’s bombshell 2021 interview with Oprah Winfrey, in which they leveled allegations of racism and mistreatment against unnamed members of the royal family. Bundock offered a cautious assessment of what the move back to Britain might mean for that specific relationship. “Their friendship circles and acquaintances overlap to some extent,” she said, “but I think to say that this is a moment of great reconciliation between those feuding brothers is far from reality.” A royal insider separately told NewsNation weeks earlier that William has “no interest at all” in speaking to his brother.

Harry’s efforts to rebuild his relationship specifically with his father have followed a somewhat different trajectory. King Charles announced his cancer diagnosis in February 2024, a development that has periodically factored into discussions about reconciliation between father and son. In September 2025, the two reunited for the first time in 19 months. Harry addressed his hopes for reconciliation directly in a May 2025 interview with the BBC. “I would love reconciliation with my family,” Harry said at the time. “There’s no point in continuing to fight. Life is precious. I don’t know how much longer my father has. It would be nice to reconcile.”

Following the family’s July trip, Meghan shared photographs from their time overseas, including images from a visit to Princess Diana’s childhood home, offering a rare public glimpse into the family’s time together during what has since been described by royal watchers as a pivotal visit ahead of this week’s relocation announcement.

The couple’s return marks a striking reversal from the circumstances of their original 2020 departure, an exit that became widely known as “Megxit.” At the time, Harry and Meghan announced in a statement described as “a personal message from the Duke and Duchess of Sussex” that they intended to step back as senior royals and work toward financial independence, while continuing to support Queen Elizabeth II. That original announcement caught even some within the royal household by surprise; a follow-up statement from Buckingham Palace at the time noted that discussions with the couple were “at an early stage,” adding, “We understand their desire to take a different approach, but these are complicated issues that will take time to work through.” As part of that earlier transition, the couple relinquished their use of HRH titles, agreed to no longer represent the monarch in an official capacity, and pledged to repay the roughly $3.1 million in Sovereign Grant funds spent renovating Frogmore Cottage, their former U.K. residence.

As Harry and Meghan now prepare to reestablish a life in Britain more than six years later, questions remain about how the wider family, particularly William and Catherine, will navigate the couple’s return, and whether the warmth shown during July’s reunion with King Charles will extend more broadly across a family relationship that has remained publicly strained since 2020. Neither Buckingham Palace nor representatives for the Duke and Duchess of Sussex have released a detailed public statement addressing how the family’s day-to-day dynamics might evolve once Harry, Meghan and their children are settled back in the U.K. later this month.

Global brokerage Jefferies has initiated coverage on Anthem Biosciences with a Buy rating and a price target of Rs 1,050, citing the company’s differentiated capabilities across small- and large-molecule therapeutics, strong return ratios and a healthy growth runway.

The target price implies an upside of around 20% from Anthem Biosciences’ current market price of Rs 874.15 on Friday. Jefferies has assigned a valuation of 65 times its September 2028 estimated earnings per share (EPS), a 10% premium to the sector’s one-year forward average multiple of around 60 times.

Jefferies believes Anthem’s integrated contract research, development and manufacturing organisation (CRDMO) model gives it an advantage by allowing customers to move projects seamlessly across discovery, development and manufacturing on a single platform. The brokerage also highlighted the company’s early investments in emerging therapeutic platforms such as oligonucleotides, peptides and antibody-drug conjugates (ADCs).

Why Jefferies is bullish on Anthem Biosciences

According to Jefferies, Anthem combines strong growth prospects with industry-leading return ratios. The company reported a 25% RoCE in FY26, the highest among the major Indian CRDMO players covered by the brokerage. Jefferies expects RoCE to remain above 20% despite significant capacity expansion and increased capital expenditure.
The brokerage expects Anthem’s overall revenue to grow at an 18% CAGR between FY26 and FY29, driven primarily by its CRDMO business. Revenue is estimated to increase from Rs 21.24 billion in FY26 to Rs 34.86 billion by FY29.

Manufacturing is expected to remain a key growth driver, with existing commercial and new commercial programmes contributing to the expansion. Jefferies estimates that Anthem’s various business units could deliver growth of 15-40% between FY26 and FY29, while new commercial projects are expected to be an important contributor to the company’s growth trajectory.
Also Read: Jefferies favours two-wheeler stocks over four-wheeler stocks as earnings gap widens

Earnings outlook

Jefferies expects Anthem’s EBITDA to rise from Rs 8.34 billion in FY26 to Rs 14.60 billion in FY29, a 21% CAGR. EBITDA margins are expected to improve from 39% to around 42%, driven by operating leverage, better capacity utilisation and an improving gross margin profile.

Gross margins are expected to improve by 50-80 basis points annually, supported by backward integration and a better business mix. The backward integration of Anthem’s largest CRDMO product in FY26 had already boosted margins, with the full benefit expected in FY27.

Jefferies expects net profit to rise from Rs 5.92 billion in FY26 to Rs 10.16 billion in FY29, while EPS is projected to increase from Rs 10.4 to Rs 17.9. EPS growth is estimated at 18% in FY27, 15% in FY28 and 26% in FY29.

Also Read: India’s family office wealth to grow 1.5x in three years as ultra-rich shift strategies: Report

Key triggers and risks

Jefferies identified three key near-term triggers for the stock: the launch of new commercial molecules, the scale-up of CDMO molecules launched in FY26 and the commercialisation of a biosimilar for a large pharmaceutical customer.

However, the brokerage also flagged customer concentration risks. Anthem’s top two projects contributed more than 30% of FY26 sales, while its partnership with Davos accounts for around 15% of FY26 sales and serves as a strategic and commercial partner in the US market.

Capacity expansion is another key factor to watch. Jefferies expects Anthem to be among the leading CRDMO companies in terms of capex spending in FY27, although it expects the company to remain in a net cash position in the coming years.

Anthem Biosciences share price

Anthem Biosciences shares were trading at Rs 874.15, down 0.04% on Friday. The stock has gained 10.44% over the past month and 36.99% so far in 2026, while it is up 3.28% over the past year.

At the current market price, Jefferies’ Rs 1,050 target represents an upside of approximately 20.1%, suggesting the brokerage sees further upside despite Anthem’s premium valuation.

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

Shares of gold loan providers, including Muthoot Finance, Manappuram Finance and IIFL Finance, extended their gains on Friday as gold prices continued to climb, supported by a weaker dollar and the US Treasury’s bond-buyback move.

Gold prices have been recording sharp gains since Thursday after a surprise liquidity support announcement by the US Treasury pushed yields and the dollar lower.

Gold futures on the MCX with an October expiry crossed Rs 1.6 lakh per 10 grams, while the December and February contracts traded above Rs 1.62 lakh and Rs 1.64 lakh per 10 grams, respectively.

Muthoot Finance, Manappuram Finance and IIFL Finance provide loans with gold as collateral.

Rising gold prices will increase the value of the pledged collateral. Since gold loans are sanctioned based on the per-gram valuation of gold, higher prices will require borrowers to pledge less jewellery to access the same loan amount, which in turn can make such loans more attractive.

Muthoot Finance shares jumped 3% on Friday to trade at Rs 3,047 apiece, while Manappuram Finance gained over 2%. IIFL Finance shares rallied around 6%. The three stocks have gained 5-7% over the past two sessions.
Also read | Dividend alert! Last day to buy Senco Gold, NALCO and 8 other stocks for dividend rewards

What’s boosting gold prices?

The US Treasury Department earlier this week announced that it would double the size of liquidity support buyback operations for longer-dated notes and bonds. The US dollar, meanwhile, remained muted, making the American greenback-priced metals cheaper for buyers ⁠holding other ‌currencies.

Markets are now pricing in a 64% probability that the Fed will leave interest rates unchanged in September, while the probability of a rate hike stands at 36%, according to the CME FedWatch Tool. Gold is traditionally viewed as a hedge against economic turmoil and inflation, but higher interest rates can weigh on demand for the non-yielding asset.

Meanwhile, the geopolitical turmoil continues to boil in the Middle East. US Treasury chief Scott Bessent said the United States will impose “the toughest sanctions in history” on Iran, dding that the move could reduce the need for new major military operations.

This comes after US President Donald Trump has warned of economic consequences against any country that provided “any type of lifeline to Iran”. In a message posted on social media on Wednesday evening, Trump promised “Economic Warfare and Isolation on an unprecedented scale,” although details were scant. Iran has faced continuous punitive economic sanctions for nearly 50 years, since the Islamic Revolution of 1979.

Also read |Gold steadies, heads for third straight weekly gain

“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,” Trump wrote.

(With inputs from agencies)

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

Yes. Corporate subscriptions are available for teams and organisations, with discounted rates as user numbers increase. Pricing starts from $1,625 + GST per user.
Get in touch
to discuss the right option for your organisation.

Business News subscriptions are used by executives, investors, consultants and professionals who need to stay informed and make better decisions about the WA market. When you subscribe you’ll get

• Unlimited access to WA’s most trusted business journalism
• Data & Insights — detailed profiles of WA companies, people, projects and deals
• MyBN — a personalised feed based on the companies, people and sectors you follow
• Special publications and industry reports
• Daily and weekly email newsletters

Data & Insights is a research tool built specifically for the WA market. It draws on more than 30 years of Business News reporting, updated regularly to reflect what’s happening now. Use it to:

• Look up detailed profiles of WA companies, including financials, directors and ownership
• Find decision-makers and track their career movements
• Research live and completed projects across WA industries
• Monitor deals, appointments and market activity
• Access industry rankings and league tables

Data & Insights is updated daily by our dedicated research team, which uses the latest announcements, ASX filings and editorial coverage to keep our person, company, list and project records up to date.

Business News welcome all opportunities to make our dataset accurate, complete and current, so if you have an update request, please email the team at
general@businessnews.com.au, and we’d be happy to assist.

MyBN
is part of every subscription. It’s your personalised view of Business News. You can follow the companies, people, sectors and projects that matter to you, and get a news feed and alerts tailored to your interests. You can save articles to read later and retain only what you need.

Only subscribers have full access to all content on the Business News website.

If staying informed about the WA economy is part of your job, and/or you’re looking for networking opportunities in WA, Business News is built for you.

Business News subscribers are:

• Executives and directors tracking competitors, clients and market movements
• Investors and advisers researching companies, deals and industry trends
• Consultants and professionals staying across sectors relevant to their clients
• Business owners looking for leads, context and market intelligence

Most Business News publications cover national or global markets. Business News is focused entirely on Western Australia, which means the journalism, the data and the intelligence are all built around WA companies, people and projects — not adapted from a national feed. Data & Insights, included with every subscription, combines more than 30 years of WA-specific editorial research with live business data. There’s no comparable product for the WA market.

The Morning Digest Email provides a comprehensive wrap of the major headlines, relevant to WA business, and includes with a snapshot of the overnight news covering oil, gold and ASX-listed companies.

The Afternoon Wrap Email focuses on the news covered by our team of journalists during the course of the working day, including exclusive stories and analysis, all of which relates to WA business and the local economy.

The BN Weekender Email contains a wrap of the Business News from the week that was, highlighting the top stories in each area of WA business.
Sign up for free.

We’re happy to help.
Get in touch
and our team will come back to you.

Shares of Hindustan Copper rose as much as 3.6% to Rs 580.50 on Friday before paring some gains. The rally came as global copper prices edged higher, supported by a weaker US dollar, although the metal remained on track to end a seven-week winning streak amid rising inventories and narrowing nearby price spreads.

Benchmark three-month copper on the London Metal Exchange (LME) rose 0.53% to $14,111.50 a tonne, while the most-traded copper contract on the Shanghai Futures Exchange gained 0.36% to 107,570 yuan a tonne. Despite Friday’s gains, LME copper remained down around 0.30% for the week.

Copper supply tightness shows signs of easing

The global copper market, however, is showing some signs of easing supply tightness. Copper inventories in LME-monitored warehouses rose to 239,925 tonnes on Thursday, up more than 17% from 204,975 tonnes on August 14.

More than 38,000 tonnes of copper entered the LME warehouse system during the first three days of the week, following 42 consecutive sessions of inventory declines through last Friday.

The premium for cash copper over three-month delivery, which surged to $545 a tonne earlier this week, its widest since late 2021, had narrowed to around $76 in the current session.

For Indian copper producers, the global price trend remains an important near-term trigger, particularly as copper continues to trade at elevated levels despite the recent moderation in prices.
Also Read: Jefferies favours two-wheeler stocks over four-wheeler stocks as earnings gap widens

What technical analysts say

Hindustan Copper has also attracted buying interest from a technical perspective. The stock has broken out above the Rs 550 resistance zone, accompanied by positive price action and rising volumes.

The stock is trading above its major exponential moving averages (EMAs), while the relative strength index (RSI) remains above 60, indicating improving bullish momentum.

“Hindustan Copper has given a strong breakout above the Rs 550 resistance zone with positive price action and rising volume. The stock is trading above its major EMAs, while RSI remains above 60, indicating improving bullish momentum and supporting further upside,” said Virat Jagad, senior technical research analyst at Bonanza Portfolio.

Jagad has a Buy recommendation on Hindustan Copper, with a buying zone of Rs 572-575, a stop-loss at Rs 515 and a target price of Rs 655. The target implies an upside of around 14% from the stock’s current price of Rs 576.40.

Also Read: India’s family office wealth to grow 1.5x in three years as ultra-rich shift strategies: Report

Hindustan Copper share price

Hindustan Copper shares have gained 8.87% in a week and 16.97% over the past month, according to exchange data. The stock is up 10.21% so far in 2026, while its one-year gain stands at a sharp 140.19%.

Over a longer period, the stock has delivered even stronger returns, rising 321% in three years and 381% in five years.

Also read: US debt tops $40 trillion: Chris Wood flags the 5% trigger that could rattle stock market

The stock’s 52-week high stands at Rs 759.20, while the 52-week low is Rs 226.25. At the current price, Hindustan Copper remains around 24% below its 52-week peak, despite its sharp gains over the past year.

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

The government borrowed slightly more than expected in July, according to figures published as Chancellor John Healey draws up his first Budget.

The Office for National Statistics (ONS) said borrowing was £2.3bn more than official forecasts from the Office for Budget Responsibility (OBR).

Borrowing, the gap between what the government spends and what it takes in tax receipts, was £1.8bn in July, two thirds higher than the same month last year.

Economists warned the figure will restrict Healey and Prime Minister Andy Burnham’s room for manoeuvre as they target measures aimed at easing the cost of living for households, with little room to increase borrowing in the Budget on 27 October.

Healey has made it clear he will oversee “strong fiscal discipline” at the Budget – which will limit how much the government has to spend.

He has adopted his predecessor Rachel Reeves’ fiscal rules, which commit the government to funding all day-to-day spending through tax receipts by the end of the decade.

Responding to the borrowing figures, Healey said: “We are cutting the deficit faster than any other G7 economy, while giving people a bit of breathing space with cost of living pressures and focusing support to get young people into work.”

The government borrowed £16bn less in July than it did in June, helped by a surge in self-assessed income tax receipts.

But the figure came in higher than expected due to increased welfare spending, including benefits and other payments such the state pension. Social payments were £2bn higher than the same period last year.

The ONS said borrowing from April to July, the first four months of the government’s fiscal year, has reached £56.7bn. This is lower than last year, but £2.3bn higher than forecasts from the OBR, which the government uses when drawing up its spending plans.

Senior economist at Capital Economics Ashley Webb said the figure continued a “run of bad news” for the economy and that “there will be little scope to raise borrowing in the Budget later this year”.

He said the borrowing overshoot “will probably get bigger” this year as economic growth slows and the government rolls out more measures to support households with the cost of living.

Joe Nellis, head of economic research at accountancy MHA, also said the figures will not “prevent difficult decisions that must be made in the upcoming October Budget”.

Healey will have to find “additional tax revenue, tighter control over public sector spending and changes elsewhere” to balance the books and meet the government’s fiscal rules.

“Failure to do so will unsettle the financial markets and potentially push up the cost of government borrowing still further,” Nellis warned.

The ONS also said Britain’s overall debt pile is approaching £3tn, having grown by £127.2bn a year earlier. The Conservatives said Labour’s spending would leave “ordinary families” left to cover the bill.

Shadow Chancellor Mel Stride said: “We spend more on just the interest of our soaring debt than we do on our defence, police, and prisons combined. We simply cannot afford the price of Labour.”

The ONS also said retail sales were lacklustre in July, falling 0.5% from June. Analysts said the drop was caused by a surge of hot weather and a World Cup-induced surge in sales in June. Clothing and footwear saw the slowest growth since May last year.

This article was written by