President Donald Trump and Ukrainian President Volodymyr Zelenskyy met at the White House on Tuesday, discussing plans for Ukraine to begin producing its own Patriot missile interceptors and efforts to revive stalled peace talks with Russia, in a meeting both leaders described as productive.

Trump characterized the sit-down warmly in a social media post following the meeting, saying it was “a great honor” to meet with Zelenskyy and that “many things were discussed” during what he described as a meeting that “went very well.” The two leaders met privately in the Oval Office before attending a Washington memorial service later Tuesday afternoon honoring Sen. Lindsey Graham, the South Carolina Republican who died July 11 at age 71 shortly after returning from a trip to Kyiv.

Zelenskyy, writing on social media after the meeting, thanked Trump for what he called a “good meeting” and for the administration’s continued support of Ukraine in its war against Russia, now in its fifth year. “The President and I discussed licenses for Patriot interceptor production and several other ideas that could help,” Zelenskyy wrote, referring to the advanced U.S.-made surface-to-air missile systems that have become central to Ukraine’s air defense against Russian strikes.

White House press secretary Karoline Leavitt described both the Zelenskyy meeting and a separate sit-down Trump held later Tuesday with Israeli Prime Minister Benjamin Netanyahu as “positive and productive.”

Tuesday’s meeting marked the second time this month that Trump and Zelenskyy have met in person, and it came against a backdrop of significantly warmer relations between the two leaders than existed roughly a year and a half ago, when a televised Oval Office meeting between them collapsed into a heated exchange that led Zelenskyy to leave the White House early and forced the cancellation of a planned joint press conference. Trump wrote at the time that Zelenskyy had “disrespected the United States of America in its cherished Oval Office,” adding that he could return “when he is ready for Peace.”

The relationship has since improved considerably. Zelenskyy noted in a recent interview that an April 2025 meeting between the two leaders at the Vatican, held on the sidelines of Pope Francis’s funeral, marked what he called a turning point in his discussions with Trump.

Tuesday’s talks also touched on efforts to jump-start direct negotiations between Ukraine and Russia. Zelenskyy told U.S. senators after meeting with Trump that stepping up the diplomatic process remained a priority. Two people familiar with the discussions said U.S. envoys Steve Witkoff and Jared Kushner, Trump’s son-in-law, have agreed to travel to Ukraine for the first time as part of an effort to restart mediation between Kyiv and Moscow. Witkoff and Kushner have made multiple trips to Russia and held several meetings with Russian President Vladimir Putin since Trump returned to office in January 2025, but neither has previously visited Ukraine in that capacity. No specific date has been set for the planned trip, according to one of the people familiar with the matter.

The Ukraine-Russia war has increasingly intersected with the separate, escalating conflict between the United States and Iran in recent weeks. Zelenskyy has said Russia provided Iran with satellite imagery of U.S. military bases in the Persian Gulf, an allegation Trump said he intends to raise directly with Putin. Ukraine, for its part, fired on at least one Iranian vessel in the Caspian Sea over the weekend, according to reports of the exchange between Trump and Zelenskyy. Hamidreza Azizi, a visiting fellow specializing in Iranian security at the Berlin-based think tank SWP, said Iran could respond at the political level to Ukraine’s strike by formally recognizing Crimea and the Donbas region as Russian territory, something Tehran has so far declined to do.

During his one-day visit to Washington, Zelenskyy also held talks with Finnish President Alexander Stubb at a Washington hotel and met separately with U.S. senators at the Capitol. He said he met with officials from Lockheed Martin, the world’s largest defense contractor and a manufacturer of the Patriot missile system, to discuss further cooperation on defense production and technology sharing. “Ukraine has a lot to share with those who help us protect lives,” Zelenskyy wrote of that meeting.

Luke Coffey, a senior fellow at the Hudson Institute, a Washington-based think tank, said expanding Patriot interceptor production capacity is important not just for Ukraine but for the United States and its Gulf allies as well, particularly given that supplies of the interceptors have been strained by the ongoing conflict with Iran.

Zelenskyy also offered condolences to Trump over Graham’s death during their meeting. Graham, one of the most vocal congressional supporters of Ukraine’s war effort, made his final official trip to Kyiv shortly before his death and helped secure an agreement on a sanctions package aimed at punishing countries that continue to purchase Russian oil, gas and other exports.

Trump and Zelenskyy’s warming relationship follows what U.S. officials have described as a broader shift among Trump allies toward more consistent support for Ukraine, including a widely publicized change of position on the war by a prominent far-right commentator close to the president. That shift has coincided with renewed momentum on both the military and diplomatic tracks of the conflict, even as the war shows no sign of concluding on its own in the near term.

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The wealth manager has pinned a decline in inflows on changes coming into effect next April

The boss of Cirencester-based wealth manager St James’s Place says he is “pleased” with the company’s first-half performance despite a fall in pre-tax profits.

The company reported a drop in net inflows over the period to £2.7bn, compared with £3.8bn a year earlier, while gross inflows remained flat at £10.5bn.

Funds under management retention stood at 95.4 per cent – marginally up from 95.3 per cent last year – but adjusted profit after tax was £224.4m – down from £235.8m in 2025.

The group said on Wednesday that “impending changes” to the retirement and financial planning landscape were behind the decline in inflows. From next April, pensions will fall within the scope of inheritance tax, meaning savers may choose to dip into pots before the 40 per cent levy comes into force.

Chief executive Mark FitzPatrick said St James’s Place had delivered “good operating and financial performance” as it continued to grow its customer and adviser base, and had made “further progress” against strategic priorities.

“During the period, our advisers supported clients through a complex and evolving environment,” he said.

“While markets have been supportive, consumers continued to navigate economic uncertainty, impending changes to the retirement savings landscape and evolving financial planning needs.”

At the close of the period, adviser numbers at St James’s Place stood at 4,951, while the business had 1,064,000 clients on its books.

“Looking forward, we remain confident in the long-term outlook for financial advice, which is under-penetrated in the UK,” added Mr FitzPatrick.

“As the industry evolves, clients will demand trusted advice, high-quality service, strong investment solutions and modern technology. St. James’s Place combines the personal relationships of a local adviser with the scale, expertise and security of the UK’s leading financial advice business.

“We continue to invest in enhancing that proposition for both clients and advisers, and believe this increasingly differentiates St. James’s Place and positions us well to capture the growth opportunities ahead.”

The FTSE 100 group issued an interim ordinary dividend of 6p per share. The company’s share price fell on the news on Wednesday.

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Credit management firm Darcey Quigley & Co has said the expansion of the Growth Guarantee Scheme will not deliver its full benefit while late payment continues, after the government confirmed changes that will support an additional £2 billion of SME lending a year by 2028/29.

The changes were announced on 13 July by the then chancellor, Rachel Reeves. The Growth Guarantee Scheme, run by the British Business Bank, gives lenders a 70 per cent government guarantee on commercial loans to smaller businesses of up to £2 million.

Total lending supported through the scheme will rise to £3.35 billion a year, from £1.35 billion now. The maximum loan term increases from six to 10 years for loans of up to £1.1 million, and the turnover ceiling for eligible businesses rises from £45 million to £54 million.

The British Business Bank estimates the changes will support an additional 12,000 businesses a year by 2028/29, up from 8,000, taking the total to 20,000. HM Treasury puts the gap between SME demand for finance and the amount available at between £1.6 billion and £4.1 billion a year.

Lynne Darcey Quigley, chief executive and founder of Darcey Quigley & Co, said improved access to finance was welcome, but that many businesses would not realise the full benefit if late payments continued to undermine their cash flow.

“The additional funding is a positive step that will help many businesses invest with greater confidence,” she said. “But finance should enable growth, not compensate for the cash flow pressures created by late payments. Businesses should not have to borrow simply because they are waiting for customers to pay what they owe.”

She added: “The healthiest businesses aren’t necessarily those with the biggest credit facilities, they’re the ones with predictable, reliable cash flow. Access to finance can create opportunities, but cash flow is what keeps businesses operating day to day.”

Darcey Quigley & Co said many smaller companies continue to face financial pressure because invoices remain unpaid long after agreed payment terms. The firm said the consequence is that otherwise healthy businesses turn to external finance to bridge cash flow gaps, rather than using it to fund recruitment, investment and growth.

“Businesses should never have to take on additional borrowing simply because they are waiting to be paid for work they’ve already completed,” Darcey Quigley said. “The cheapest source of funding available to any organisation is the money it has already earned. Improving payment practices and reducing debtor days can often do more to strengthen financial resilience than taking on new debt.”

The firm said its intervention comes as UK businesses continue to face rising operating costs, economic uncertainty and subdued customer demand. The Federation of Small Businesses reported this month that just one in six small firms expects to grow over the next 12 months, the lowest proportion since its Small Business Index began in 2014.

Separate legislation before parliament would introduce mandatory 60-day payment terms for companies with revenues above £54 million, backed by statutory interest at 8 percentage points above the Bank of England base rate and new enforcement powers for the Small Business Commissioner.

The British Business Bank supported a record £9.4 billion of finance for smaller firms in 2025/26, including £1.3 billion through the Growth Guarantee Scheme.

“Strong cash flow underpins every major business decision,” Darcey Quigley said. “Whether it’s hiring new staff, investing in technology or expanding into new markets, those decisions become much easier when businesses have confidence that payments will arrive when they should.

“The Government’s investment will undoubtedly help many SMEs unlock new opportunities. But long-term business resilience won’t be built through borrowing alone. It will be built by creating a business environment where companies are paid fairly, paid promptly and can confidently reinvest the money they’ve already worked hard to earn.”

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Shares of bottle-maker Varun Beverages jumped nearly 3% to the day’s high of Rs 441.80 on the BSE on Wednesday, against previous closing of Rs 430.30, after the company reported a growth of 15% in profit after tax (PAT) and 20% increase in revenue in Q1 FY27 on a year-on-year basis.

According to a filing with the exchange, the company reported a 20.4% year-on-year (YoY) increase in revenue from operations (net of excise duty and GST) to Rs 8,451.23 crore in Q1 FY2027, compared with Rs 7,017.37 crore in the corresponding quarter of CY2025.

Also Read | Varun Beverages shares fall 5% as Q2 margins shrink after Twizza acquisition in South Africa; net profit rises 15%

Profit after tax (PAT) rose 15.1% year-on-year to Rs 1,525.36 crore from Rs 1,325.49 crore, driven by strong volume growth across India and international markets.

Gross margin expanded by 44 basis points to 55% in Q2 CY2026, supported by a higher contribution from the international business. In India, early procurement of key raw materials and lower sugar consumption, aided by a higher mix of low- and no-sugar products, helped offset inflationary pressure on input costs.

Consolidated sales volumes rose 19.8% year-on-year to 466.7 million cases from 389.7 million cases, driven by 14.4% volume growth in India and a 38.4% increase across international markets. The international business included 11.8 million cases from the recently acquired Twizza operations in South Africa.
Depreciation rose 33.6%, primarily due to the commissioning of new plants in India last year and the acquisition of Twizza. Finance costs increased 55.8%, largely on account of the Twizza acquisition.The realization per case for beverages improved by 1.2% at the consolidated level with improved realizations in international territories.

EBITDA increased by 17.2% to Rs 23,430.4 million in Q2 CY2026 and EBITDA margins declined by 76 bps to 27.7% in Q2 CY2026 due to consolidation of Twizza business which currently has lower margins.

In India, EBITDA margins improved by 38 bps driven by operational efficiencies from healthy volume growth which were partially offset by higher other expenses primarily transportation and distribution costs.

VBL India continued to remain net debt free with a free cash of Rs 14,941 million, however, at the consolidated level net debt stood at Rs 3,730 million as on June 30, 2026, on account of acquisition of Twizza in South Africa. The company’s long-term rating for bank loan facilities from CRISIL (an S&P Global Company) is reaffirmed as CRISIL AAA/Stable.

“We are pleased to report a strong performance during this quarter across our markets. Consolidated sales volumes grew by 19.8% and, together with improved realizations, translated into a 20.4% increase in net revenue from operations. EBITDA increased by 17.2% to Rs. 23,430.4 million in Q2 CY2026,” said Ravi Jaipuria, Chairman, Varun Beverages.

Also Read | Varun Beverages’ international fizz outpaces India biz as overseas volumes surge 38%

Jaipuria also mentioned that the company entered a strategic alliance with Asahi Group Holdings to introduce the iconic CALPIS brand in India, marking their entry into the value-added fermented dairy beverage category.

In accordance to their dividend policy, the Board of Directors has approved a second interim dividend of 25% of face value, i.e., Rs 0.50 per share, resulting in a total cash outflow of approximately Rs 1,691 million.

The company has set August 1 as the record date for determining the entitlement of Equity Shareholders for receipt of the second interim dividend.

In the last one year, the stock was down 14.32% and in the last two years, the stock was down 34.84%.

(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 KPIT Technologies gained momentum on Wednesday, July 29, climbing 4.20% to Rs 627.70 ahead of the company’s June quarter (Q1FY27) earnings announcement scheduled later in the day.

Investor attention is focused on the company’s quarterly performance, with market participants keen to assess revenue trends, operational execution, and management’s outlook for the coming quarters.

Earlier in July, KPIT Technologies’ management had provided an initial outlook for Q1FY27, highlighting that the anticipated impact on revenue would stem from multiple client-related actions. At the same time, the company outlined potential growth opportunities ahead. Based on these factors, management indicated that Q2FY27 revenue is expected to remain in a similar range to Q1FY27 revenue.

The positive movement in KPIT Tech’s stock also came amid broader strength in the Indian IT sector. The IT index witnessed gains as investors renewed their interest in technology stocks, creating a supportive environment for companies across the sector.

Beyond the headline financial figures, investors will closely track management commentary on demand trends, client engagements, growth drivers, and the company’s strategy to navigate near-term challenges while capitalising on future opportunities.

Share Price Performance

KPIT Technologies has shown signs of short-term momentum, with the stock gaining 8% over the past week. However, the broader performance remains weak, as the stock has declined 15% over the past month and is down nearly 50% over the past year, indicating continued pressure over the medium to long term.

The latest shareholding data indicates a cautious approach from institutional investors during the June 2026 quarter. Foreign Institutional Investors (FIIs) marginally reduced their stake from 13.25% to 13.22%, while Mutual Fund holdings declined from 12.09% to 11.91% during the same period. The reduction in institutional ownership suggests a measured stance by large investors.

Valuation & Technical Outlook

From a technical perspective, KPIT Technologies is currently trading below 4 out of 8 key Simple Moving Averages (SMAs), reflecting weakness in the prevailing trend.
On the technical front, the 14-day RSI stands at 48.9, indicating a neutral momentum zone. Typically, an RSI below 30 signals oversold conditions, while an RSI above 70 indicates overbought territory. Despite the recent recovery, the stock continues to trade below key medium- and long-term moving averages, highlighting a bearish trend structure.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)