Available for over a year

New regulations begin today (Wednesday July 15th) for shoppers using Buy Now Pay Later. Consumers using services like Klarna and Clearpay will now be given more protection but also a greater risk of rejection, as new affordability checks begin.

BNPL schemes often provide interest free payment options over several months and have proved immensely popular. Experian estimates that a 100mn transactions were made that way last year, adding up to about £7bn.

Meanwhile, new data from one of the country’s largest free money advice services, Money Wellness, shows BNPL has become an increasingly common feature of customers’ finances over the past four years, with June recording 4,520 customers seeking help with BNPL debt. That’s the highest June on record and second only to the traditional post-Christmas spike seen in January.

Presenter Felicity Hannah talks to the Financial Conduct Authority to find out if the new rules are going to improve things for shoppers. She’s joined by an expert panel answering listener questions – Mick McAteer of The Financial Inclusion Centre, a UK not-for-profit policy and research group. and Matthew Sheeran from Money Wellness.

Presenter: Felicity Hannah
Producer: Craig Henderson
Editor: Jess Quayle
Senior News Editor: Sara Wadeson

Photo credit: Pakorn Supajitsoontorn via Getty Images.

(This episode of Money Box Live was first broadcast on BBC Radio Four at 3pm on Wednesday 15th July)

Programme WebsiteShow less

CUPERTINO, Calif. — Apple Inc. shares rose more than 3 percent Tuesday to around 327.05, extending recent gains as investors bet on the technology giant’s continued leadership in consumer electronics and services amid growing artificial intelligence integration across its product lineup.

The rally pushed Apple’s market capitalization higher, reinforcing its position as one of the world’s most valuable companies. With fiscal third-quarter results scheduled for late July, analysts and traders are focusing on iPhone demand, services growth and progress on AI features that could drive future revenue.

Apple has navigated a competitive landscape by emphasizing ecosystem lock-in, privacy protections and premium hardware. Its stock performance reflects confidence in steady iPhone upgrades, expanding services and emerging opportunities in generative AI, even as broader tech sector rotations occur.

Recent reports highlight Apple’s push into foldable devices, with plans for premium iPhone models potentially launching as early as 2027. Production targets for these innovative products have reportedly increased, signaling confidence in consumer interest for new form factors.

The company also announced expanded collaboration with Broadcom on custom silicon and wireless technologies, committing to U.S.-based manufacturing for billions of chips. Such moves underscore Apple’s strategy to diversify supply chains and invest in domestic capabilities while advancing product performance.

Apple’s services business, including App Store, Apple Music, iCloud and advertising, continues to deliver high-margin growth. This segment provides recurring revenue less susceptible to hardware cycles and has become a key pillar of the company’s financials.

iPhone sales remain central, with the latest lineup benefiting from improved cameras, processing power and integration with Apple Intelligence features. China, a critical market, has shown signs of stabilization, with recent data indicating resilience despite economic headwinds.

Analysts project solid revenue growth for the current fiscal year, driven by hardware refreshes and services expansion. Gross margins have held steady, supported by efficient supply chain management and premium pricing.

Tuesday’s trading reflected broader market dynamics, with rotation into perceived safer tech names as some AI-heavy stocks faced profit-taking. Apple’s relatively conservative approach to capital spending and massive cash reserves provide a buffer, appealing to investors seeking stability.

The company maintains a robust capital return program, including share repurchases and dividends. In recent quarters, it authorized additional buybacks and raised its quarterly payout, rewarding shareholders while signaling confidence in future cash flow.

Product news continues to generate buzz. Apple scored a record number of Emmy nominations for its streaming content, highlighting success in entertainment that complements hardware sales. Partnerships like expanded Major League Baseball streaming on Apple TV further enhance the services ecosystem.

Innovation in health features across Watch and other devices positions Apple in the growing wearable market. Integration of AI for personalized insights could accelerate adoption and create new revenue streams through subscriptions or premium capabilities.

Challenges include regulatory scrutiny over App Store policies and antitrust matters in multiple jurisdictions. Apple has defended its approach as necessary for security and user experience while making incremental adjustments to comply with global rules.

Supply chain diversification efforts, including increased sourcing from India and other regions, aim to mitigate risks from geopolitical tensions. The Broadcom deal supports these goals while boosting U.S. semiconductor capabilities.

As Apple prepares for its earnings call on July 30, focus will center on guidance for the September quarter and updates on AI rollout. Management has emphasized measured integration of intelligence features to ensure reliability and privacy.

CEO Tim Cook’s leadership transition plans, with a successor in place for day-to-day operations while he moves to executive chairman, have been well-received as ensuring continuity. The company’s deep bench of talent and clear roadmap provide reassurance.

Wall Street consensus remains positive, with price targets reflecting expectations of mid-teens revenue growth and expanding margins. Apple’s ability to monetize its installed base through services and upgrades has proven resilient through economic cycles.

The stock’s year-to-date performance has outpaced some peers, adding substantial market value as investors rotate toward companies with proven execution and strong balance sheets. Free cash flow projections remain robust, supporting ongoing investments and returns to shareholders.

Broader industry trends favor Apple. Global smartphone shipments have faced pressure, but premium segments where Apple dominates have shown relative strength. Foldable adoption in Android has paved the way for potential iPhone innovation in that category.

Environmental initiatives, including use of recycled materials and carbon-neutral goals, align with consumer preferences and regulatory demands. Apple has made progress on these fronts, enhancing brand reputation.

Looking forward, the company is expected to unveil new Mac, iPad and other products in coming months, maintaining its cadence of annual updates. Software advancements in iOS and macOS will incorporate more AI tools, potentially differentiating the platform.

Analysts caution that execution on AI will be critical. Competitors are racing to embed similar capabilities, but Apple’s focus on on-device processing could offer privacy and performance advantages.

The stock trades at a premium valuation justified by its growth profile, margins and ecosystem strength. Dividend yield remains modest but the payout has grown consistently, appealing to income investors.

Tuesday’s gain came on solid volume as positive sentiment around tech earnings season spread. With no major negative headlines, the move reflected technical strength and anticipation of favorable results.

Apple’s ecosystem generates unparalleled customer loyalty, with high retention rates across devices and services. This stickiness supports predictable revenue streams even in uncertain macroeconomic environments.

International expansion, particularly in emerging markets like India, offers long-term upside. Localized manufacturing and marketing efforts are yielding results, diversifying beyond Greater China.

As the fiscal year progresses, Apple will continue balancing innovation with operational discipline. Its track record suggests capability to adapt while delivering shareholder value.

The latest stock movement highlights Apple’s enduring appeal in a volatile market. Investors appear willing to pay for quality and visibility into future growth drivers centered on AI and services.

With earnings approaching, all eyes will be on commentary regarding demand trends, competitive positioning and capital allocation. The results could set the tone for the remainder of 2026 and into the next product cycle.

Apple remains a bellwether for consumer technology spending. Its performance influences sentiment across the sector, from suppliers to software developers.

As the company enters its next phase of leadership and product evolution, the foundation built over decades of innovation positions it strongly for continued success.

Frontier Airlines announced Tuesday that it plans to introduce high-speed inflight internet powered by SpaceX’s Starlink beginning in early 2027, marking a major upgrade for the ultra-low-cost carrier as it continues investing in new amenities aimed at attracting travelers.

The Denver-based airline said its first Starlink-equipped Airbus aircraft is expected to enter service early next year. Frontier said it will become the first U.S. airline to offer passengers access to Starlink’s satellite internet through a new system managed directly by Starlink.

Engineered by Elon Musk’s SpaceX, Starlink uses a constellation of low-Earth orbit satellites to deliver high-speed, low-latency internet capable of supporting activities such as video streaming, online gaming, web browsing and remote work during flights.

UNITED’S NEW SEATING OPTION DITCHES THE MIDDLE SEAT

The rollout is part of a broader deployment across airlines backed by private equity firm Indigo Partners, which also includes Wizz Air, Volaris, JetSmart and Cebu Pacific. Together, the carriers expect to install Starlink across more than 1,000 aircraft, one of the largest commitments to next-generation inflight connectivity announced to date.

“Starlink will provide our portfolio airlines with reliable, high-speed connectivity, further enhancing the customer experience of flying on Wizz, Frontier, Volaris, JetSMART and Cebu,” Indigo Partners Managing Partner Bill Franke said in a statement.

Ticker	Security	Last	Change	Change %
ULCC	FRONTIER GROUP HOLDINGS INC	6.58	+0.19	+2.97%
SPCX	SPACE EXPLORATION TECHNOLOGIES CORP.	135.62	-0.46	-0.34%

Beyond passenger connectivity, Frontier said the system will provide gate-to-gate internet access for pilots, flight attendants, maintenance crews and ground personnel, helping improve operational efficiency and customer service.

Frontier CEO Jimmy Dempsey said the investment reflects the airline’s efforts to enhance the travel experience while maintaining its low-fare business model.

“We’re continuing to invest in the products and services that matter most to our customers,” Dempsey said. “Starlink transforms the onboard experience, giving customers the flexibility to work, stream, browse, and stay connected throughout their journey.”

The announcement comes as Frontier expands its offerings beyond its traditional ultra-low-cost model. The airline has previously announced plans to introduce first-class seating and enhance its loyalty program as it competes for higher-value travelers.

CLICK HERE TO GET FOX BUSINESS ON THE GO

Financial terms of the Starlink agreement were not disclosed.

FOX Business reached out to Frontier Airlines and SpaceX for additional comment. 

Mumbai, State-owned Union Bank of India on Wednesday reported a 27.5 per cent jump in its consolidated net profit to Rs 5,641.52 crore for the June quarter of the current fiscal on the back of better margins, improved asset quality and higher interest income.

In the year-ago period, the bank’s net profit stood at Rs 4,427.94 crore, as per a regulatory filing.

The bank’s net interest income (NII) edged up by 1.05 per cent year-on-year to Rs 27,203 crore in the reporting quarter, from Rs 26,919 crore, limited by the net interest margin (NIM).

The NIM marginally advanced by 0.04 per cent year-on-year and 0.16 per cent on a sequential basis to 2.80 per cent in Q1FY27.

Asheesh Pandey, MD and CEO of Union Bank of India, expressed confidence that margins can be improved further despite the evolving interest-rate environment.

Under the special FCNR-B window introduced by the Reserve Bank of India (RBI), Pandey expects around 1.5-2 billion inflows by September. He added that the bank has so far garnered USD 106 million in deposits.
“We have mobilised around USD 106 million under FCNR-B deposits so far. Our target is to raise USD 1.5-2 billion by September,” Pandey said during the post-earnings conference.He added that deposits have been garnered from several locations, including Australia and the UAE.

“Deposits have come from several locations, including Australia and the UAE. We have five dedicated NRI branches and have identified another 20 branches with a large NRI customer base to run a focused mobilisation campaign. We have also set up an NRI cell to contact customers individually instead of relying only on SMS campaigns,” he said.

The bank is currently offering interest rates of around 6.10-6.60 per cent and is comfortable with these rates, Pandey said.

“Initially, customers needed time to understand the scheme. Subsequently, the RBI FAQs clarified many queries. FCNR-B mobilisation also requires direct engagement with NRIs, who compare deposit rates before investing.

“The current response has been encouraging, and there is a healthy pipeline,” Pandey said.

The central bank introduced the special FCNR-B window during the June monetary policy committee (MPC) meeting, including bearing the cost of currency hedging, to increase foreign capital inflows and bolster India’s external position.

In the quarter under review, global deposits of the bank rose by 3.50 per cent to Rs 12.83 lakh crore, compared to Rs 12.39 lakh crore in the year-ago period. Domestic deposits increased by 3.49 per cent to 12.83 lakh crore in Q1FY27.

The low-cost, current account and savings account (CASA) deposits increased 11.73 per cent YoY to 4.50 lakh crore.

CASA ratio improved to 35.09 per cent in the reporting quarter, from 32.51 per cent in Q1FY26.

Gross advances of the bank also rose 12.50 per cent YoY to Rs 10.96 lakh crore in Q1FY27, from Rs 9.74 lakh crore in the corresponding period a year ago. The bank’s Retail, Agri and MSME (RAM) advances increased 11.56 per cent YoY to Rs 6.08 lakh crore.

In the reporting quarter, the asset quality of the bank improved, with gross non-performing assets (NPAs) falling by 0.87 per cent to 2.65 per cent as on June 30. ​

Shares of Union Bank of India closed 1.08 per cent higher at Rs 172.4 apiece on the BSE on Wednesday.

JPMorgan Chase Chairman and CEO Jamie Dimon is validating the growing frustration of working-class Americans, admitting in a recent interview that he completely understands why many have grown “anti-rich.”

The Wall Street billionaire argued that decades of ineffective public policies have left lower-income families behind in struggling rural areas and inner cities, forcing them to navigate failing schools and rising crime while wealthy elites remain insulated from those problems.

“The anti-rich thing has been around a long time, and I do understand it because I think, separate the two pieces, the piece that’s really important is that we have, in fact, left the lower-income folks behind,” Dimon told Axios. “And I remind people who are well off that they don’t worry about their schools. They don’t live in crime-ridden neighborhoods. So if you are making less income in your poor rural area or an inner-city area, your schools aren’t good. You go to crime-ridden neighborhoods – more divorce, less jobs, all the things that, yeah, it’s becoming de-generational. So let’s acknowledge it and fix it.”

JPMORGAN NAMES 2 NEW CO-PRESIDENTS, SETTING UP RACE TO SUCCEED JAMIE DIMON

“All of us, Democrats, including unions, Republicans should say, ‘That shouldn’t happen that way.’ And the policies that created that were both Democrat and Republican. All of those policies did not work in the inner cities,” he continued.

“If you were the average citizen here and you say, ‘These wealthy people are getting unbelievably wealthy, and this segment has been left behind,’ that’s kind of annoying. Now, if we look at America in truth from the 50s, 60s, 70s, 80s, 90s to 2020s, Americans have been doing much better, including the lower income.”

Data from the Federal Reserve’s Distributional Financial Accounts highlight a highly concentrated wealth distribution in the United States. The bottom 50% of households hold a combined $4.27 trillion of the nation’s roughly $174 trillion in household wealth.

In contrast, the top 0.1% of ultra-wealthy individuals command about $25.07 trillion, while those in the 99th through 99.9th percentiles own just under $30 trillion.

“I’ve been complaining a little bit about, I’ve just been speaking about, the fraying of the American Dream for years. And I think you have to acknowledge that there’s a flaw. And it’s more for the lower-paid individuals in America,” Dimon said.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

“We asked our team… What more can JPMorgan do?” Dimon detailed the “Vital Institutions” initiative, which directs capital, banking and philanthropic support to organizations like hospitals, universities and local governments to boost low-to-moderate-income communities.

“Economic strength is somewhat predicated, affected – it’s life, liberty and the pursuit of happiness, and equal opportunity. So if you wanna have an equal opportunity country, you need to do some of these things to give people more opportunity,” he said.

READ MORE FROM FOX BUSINESS

This article was written by

Analyst’s Disclosure: I/we have a beneficial long position in the shares of PLTR either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.