
Borosil Renewables shares rise over 2% today as German subsidiary files for bankruptcy
On Monday, 7th July, shares of Borosil Renewables traded higher by 2.39% at ₹509.00 on the NSE, gaining ₹11.90 during the session. The stock's rise comes despite news that its German subsidiary, GMB Glasmanufaktur Brandenburg GmbH (GMB), has filed for bankruptcy at a German insolvency court.
According to the company, GMB's operations had been under strain since January this year when its furnaces were cooled down due to poor demand and weak market conditions in the European Union. GMB attributed the slump to Chinese dumping of solar panels at lower prices, which hurt the competitiveness of its products.
The subsidiary had previously approached authorities in Germany for urgent measures to support the business, but no relief was provided. As a result, GMB and its step-down subsidiary — with an exposure of approximately ₹350 crore — moved to insolvency proceedings.
While GMB reported a topline of ₹327 crore for FY25, contributing nearly 22% of Borosil Renewables' consolidated revenue, it continued to post losses. The company highlighted that the bankruptcy move would stop the cash loss of around ₹9 crore per month that was being incurred by GMB. Going forward, an administrator will oversee GMB's expenses and cash flows.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
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Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.

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San Francisco Chronicle
a few seconds ago
- San Francisco Chronicle
The U.S. is losing its biotech edge over China — and that's bad news for the Bay Area
From gene therapies to cancer breakthroughs, California has been the driving force behind America's biotechnology industry. But today, that edge is slipping. A National Security Commission on Emerging Biotechnology report to Congress in April stated that the U.S. is dangerously close to falling behind China in biotechnology innovation, and called for urgent investment and strategic coordination to maintain global leadership. Genentech's founding in 1976 in South San Francisco marked the start of the modern biotech era, and, ever since, California has been at the forefront of countless scientific discoveries and medical innovations. However, recent funding cuts and an overreliance on China for manufacturing pipelines leave our nation vulnerable. As the report urges, the U.S. must prioritize biotechnology at the national level or risk relying on China to use this strategic power for good. In 2011, the Chinese government declared biotechnology a ' strategic emerging industry ' and has since committed billions to secure dominance in areas like synthetic biology, gene editing and biomanufacturing. In 2024 alone, China conducted over 7,100 clinical drug trials, surpassing the United States and accounting for nearly 40% of global trial activity. Despite U.S. tariffs under the Trump administration designed to counter China's economic influence, China's gross domestic product has remained strong, fueling even greater investment in strategic sectors like biotechnology. By contrast, the U.S. continues to lose ground, constrained by outdated regulatory frameworks and a lack of coordinated federal strategy. While China is building a biotech empire with deliberate, state-backed coordination, the U.S. is stuck playing defense with shrinking budgets. U.S. federal support for biomedical research is slipping, with the budget for the National Institutes of Health facing a 40% cut in the coming year. For a region like the Bay Area, home to some of the world's most promising biotech startups and research institutions, these cuts have a direct toll, including the termination of $314 million in funding that was to be used to train the next generation of biomedical and health researchers. Major institutions like UCSF, Stanford and UC Berkeley are now bracing for delayed projects, staffing freezes and reductions in early-career fellowships that are vital to sustaining long-term innovation. On a national level, promising studies have been halted midstream, leaving research gaps in breakthrough treatments for cancer, Alzheimer's disease and other major infectious diseases that impact millions of Americans. When U.S. investment in domestic biotech falters, it slows innovation at home and creates an opening for global competitors to step in. China's government is strategically positioning its biotech sector to fill the gap left by stalled American research. Just last month, U.S. pharmaceutical firms signed 14 licensing deals with Chinese biotech companies worth up to $18.3 billion, underscoring our growing dependence on China's rapidly maturing R&D capabilities. This shift carries significant implications for California. It is home to over 16,500 life sciences companies and establishments, more than any other state, according to the California Biotechnology Foundation. The state directly employs more than 466,000 workers and generates more than $414 billion in annual economic output. In 2023, California led the nation in venture capital investment, raising over $34 billion for life science companies. Further, California accounted for 40% of all U.S. life sciences patents filed in 2023, and more bioscience patents are issued to California researchers than to those in any other state. Losing ground to China isn't just an economic risk; it's also a national security threat that could reshape who controls the future of health care. While the U.S. system is built on competition and patient outcomes, China's state-controlled model prioritizes strategic control and global influence. In America, ethical safeguards, transparency and regulatory review shape medical progress. In China, the government's control allows for faster approvals but also looser oversight, creating the risk of untested or misused science. The National Security Commission on Emerging Biotechnology warned that China's biotech advances could be weaponized — from battlefield-ready biologics to more nefarious applications. As a scientist working in biotechnology in the Bay Area, I understand that California plays a central role in this global race. From early-stage research in university labs to large-scale manufacturing by leading biotech firms, the state's infrastructure, talent and capital drive America's competitiveness. The Bay Area remains one of the most dense and productive biotech ecosystems in the world, thanks to its concentration of top-tier research institutions, world-class hospitals, a culture of entrepreneurship and the ability to attract the world's best and brightest to its academic and industrial ecosystem. But even here, the warning signs are hard to ignore. Federal NIH cuts have already disrupted major research projects at UC campuses, impacting our ability to attract talented students to our graduate and postdoctoral research programs, while venture capital is increasingly eyeing faster-moving regulatory environments abroad, preferring to license in late-stage assets from China instead of funding early-stage research at home. If Washington fails to prioritize a national biotech strategy, California's innovation engine could slow just as competitors abroad gain momentum. The state's economic future, public health leadership and ability to attract global talent are all at stake. China is no longer a distant biotech challenger and is actively reshaping the industry with its speed, regulatory agility and cost-efficiency, shifting the innovation center of gravity away from the U.S. The National Security Commission on Emerging Biotechnology has made clear that this is not just a matter of competition, but a strategic threat with long-term consequences for public health and national security. If America is to remain a global leader in biotechnology, we must urgently invest in our domestic research ecosystem and rebuild the infrastructure that has powered decades of discovery or be forced to surrender it to a rival that plays by different rules. Ash Jogalekar is a scientist and science writer based in the Bay Area. He is a scientist in residence at the Oppenheimer Project and works on emerging threats and technology risks in areas like biotechnology and AI.


Hamilton Spectator
an hour ago
- Hamilton Spectator
Less selection, higher prices: How tariffs are shaping the holiday shopping season
NEW YORK (AP) — With summer in full swing in the United States, retail executives are sweating a different season. It's less than 22 weeks before Christmas, a time when businesses that make and sell consumer goods usually nail down their holiday orders and prices. But President Donald Trump's vacillating trade policies have complicated those end-of-year plans. Balsam Hill, which sells artificial trees and other decorations online, expects to publish fewer and thinner holiday catalogs because the featured products keep changing with the tariff rates the president sets, postpones and revises . 'The uncertainty has led us to spend all our time trying to rejigger what we're ordering, where we're bringing it in, when it's going to get here,' Mac Harman, CEO of Balsam Hill parent company Balsam Brands, said. 'We don't know which items we're going to have to put in the catalog or not.' Months of confusion over which foreign countries' goods may become more expensive to import has left a question mark over the holiday shopping season. U.S. retailers often begin planning for the winter holidays in January and typically finalize the bulk of their orders by the end of June. The seesawing tariffs already have factored into their calculations. The consequences for consumers ? Stores may not have the specific gift items customers want come November and December. Some retail suppliers and buyers scaled back their holiday lines rather than risking a hefty tax bill or expensive imports going unsold. Businesses still are setting prices but say shoppers can expect many things to cost more , though by how much depends partly on whether Trump's latest round of 'reciprocal' tariffs kicks in next month. The lack of clarity has been especially disruptive for the U.S. toy industry, which sources nearly 80% of its products from China. American toy makers usually ramp up production in April, a process delayed until late May this year after the president put a 145% tariff on Chinese goods, according to Greg Ahearn, president and CEO of the Toy Association, an industry trade group. The U.S. tariff rate may have dropped significantly from its spring high — a truce in the U.S.-China trade war is set to expire on Aug. 12 — but continues to shape the forthcoming holiday period. Manufacturing activity is way down from a year ago for small- and medium-sized U.S. toy companies , Ahearn said. The late start to factory work in China means holiday toys are only now arriving at U.S. warehouses, industry experts said. A big unknown is whether tariffs will keep stores from replenishing supplies of any breakout hit toys that emerge in September, said James Zahn, editor-in-chief of the trade publication Toy Book. In the retail world, planning for Christmas in July usually involves mapping out seasonal marketing and promotion strategies . Dean Smith, who co-owns independent toy stores JaZams in Princeton, New Jersey, and Lahaska, Pennsylvania, said he recently spent an hour and a half running through pricing scenarios with a Canadian distributor because the wholesale cost of some products increased by 20%. Increasing his own prices that much might turn off customers, Smith said, so he explored ways to 'maintain a reasonable margin without raising prices beyond what consumers would accept.' He ordered a lower cost Crazy Forts building set so he would have the toy on hand and left out the kids' edition of the Anomia card game because he didn't think customers would pay what he would have to charge. 'In the end, I had to eliminate half of the products that I normally buy,' Smith said. Hilary Key, owner of The Toy Chest in Nashville, Indiana, said she tries to get new games and toys in early most years to see which ones she should stock up on for the winter holidays. This year, she abandoned her product testing for fear any delayed orders would incur high import taxes. Meanwhile, vendors of toys made in China and elsewhere bombarded Key with price increase notices. For example, Schylling, which makes Needoh, Care Bear collectibles and modern versions of nostalgic toys like My Little Pony , increased prices on orders by 20%, according to Key. All the price hikes are subject to change if the tariff situation changes again. Key worries her store won't have as compelling a product assortment as she prides herself on carrying. 'My concern is not that I'll have nothing, because I can bring in more books. I can bring in more gifts, or I can bring in just things that are manufactured in other places,' she said. 'But that doesn't mean I'm going to have the best stock for every developmental age, for every special need.' The retail industry may have to keep taking a whack-a-mole approach to navigating the White House's latest tariff ultimatums and temporary reprieves. Last week, the president again reset the rates on imports from Brazil, the European Union , Mexico, and other major trading partners but said they would not take effect until Aug. 1. The brief pause should extend the window importers have to bring in seasonal merchandise at the current baseline tariff of 10%. The Port of Los Angeles had the busiest June in its 117-year history after companies raced to secure holiday shipments, and July imports look strong so far, according to Gene Seroka, the port's executive director. 'In my view, we're seeing a peak season push right now to bring in goods ahead of potentially higher tariffs later this summer,' Seroka said Monday. The pace of port activity so far this year reflects a 'tariff whipsaw effect' — imports slowing when tariffs kick in and rebounding when they're paused , he said. 'For us consumers, lower inventory levels, fewer selections and higher prices are likely as we head into the holidays.' Smith, who co-owns the two JaZams stores with his partner, Joanne Farrugia, said they started placing holiday orders two months earlier than usual for 'certain items that we felt were essential for us to have at particular pricing.' They doubled their warehouse space to store the stockpile. But some shoppers are trying to get ahead of higher prices just like businesses are, he said. He's noticed customers snapping up items that will likely be popular during the holidays, like Jellycat plush toys and large stuffed unicorns and dogs. Any sales are welcome, but Smith and Farrugia are wary of having to restock at a higher cost. 'We're just trying to be as friendly as we can to the consumer and still have a product portfolio or profile that is gonna meet the needs of all of our various customers, which is getting more and more challenging by the day,' Smith said. Balsam Brands' Harman said he's had to resign himself to not having as robust a selection of ornaments and frosted trees to sell as in years' past. Soon, it will be too late to import meaningful additions to his range of products. 'Our purpose as a company is to create joy together, and we're going to do our very best to do that this year,' Harman said. 'We're just not going to have a bunch of the items that consumers want this year, and that's not a position we want to be in.'


San Francisco Chronicle
2 hours ago
- San Francisco Chronicle
Less selection, higher prices: How tariffs are shaping the holiday shopping season
NEW YORK (AP) — With summer in full swing in the United States, retail executives are sweating a different season. It's less than 22 weeks before Christmas, a time when businesses that make and sell consumer goods usually nail down their holiday orders and prices. But President Donald Trump's vacillating trade policies have complicated those end-of-year plans. Balsam Hill, which sells artificial trees and other decorations online, expects to publish fewer and thinner holiday catalogs because the featured products keep changing with the tariff rates the president sets, postpones and revises. 'The uncertainty has led us to spend all our time trying to rejigger what we're ordering, where we're bringing it in, when it's going to get here,' Mac Harman, CEO of Balsam Hill parent company Balsam Brands, said. 'We don't know which items we're going to have to put in the catalog or not." Months of confusion over which foreign countries' goods may become more expensive to import has left a question mark over the holiday shopping season. U.S. retailers often begin planning for the winter holidays in January and typically finalize the bulk of their orders by the end of June. The seesawing tariffs already have factored into their calculations. The consequences for consumers? Stores may not have the specific gift items customers want come November and December. Some retail suppliers and buyers scaled back their holiday lines rather than risking a hefty tax bill or expensive imports going unsold. Businesses still are setting prices but say shoppers can expect many things to cost more, though by how much depends partly on whether Trump's latest round of 'reciprocal' tariffs kicks in next month. The lack of clarity has been especially disruptive for the U.S. toy industry, which sources nearly 80% of its products from China. American toy makers usually ramp up production in April, a process delayed until late May this year after the president put a 145% tariff on Chinese goods, according to Greg Ahearn, president and CEO of the Toy Association, an industry trade group. The U.S. tariff rate may have dropped significantly from its spring high — a truce in the U.S.-China trade war is set to expire on Aug. 12 — but continues to shape the forthcoming holiday period. Manufacturing activity is way down from a year ago for small- and medium-sized U.S. toy companies, Ahearn said. The late start to factory work in China means holiday toys are only now arriving at U.S. warehouses, industry experts said. A big unknown is whether tariffs will keep stores from replenishing supplies of any breakout hit toys that emerge in September, said James Zahn, editor-in-chief of the trade publication Toy Book. In the retail world, planning for Christmas in July usually involves mapping out seasonal marketing and promotion strategies. Dean Smith, who co-owns independent toy stores JaZams in Princeton, New Jersey, and Lahaska, Pennsylvania, said he recently spent an hour and a half running through pricing scenarios with a Canadian distributor because the wholesale cost of some products increased by 20%. Increasing his own prices that much might turn off customers, Smith said, so he explored ways to "maintain a reasonable margin without raising prices beyond what consumers would accept.' He ordered a lower cost Crazy Forts building set so he would have the toy on hand and left out the kids' edition of the Anomia card game because he didn't think customers would pay what he would have to charge. 'In the end, I had to eliminate half of the products that I normally buy,' Smith said. Hilary Key, owner of The Toy Chest in Nashville, Indiana, said she tries to get new games and toys in early most years to see which ones she should stock up on for the winter holidays. This year, she abandoned her product testing for fear any delayed orders would incur high import taxes. Meanwhile, vendors of toys made in China and elsewhere bombarded Key with price increase notices. For example, Schylling, which makes Needoh, Care Bear collectibles and modern versions of nostalgic toys like My Little Pony, increased prices on orders by 20%, according to Key. All the price hikes are subject to change if the tariff situation changes again. Key worries her store won't have as compelling a product assortment as she prides herself on carrying. 'My concern is not that I'll have nothing, because I can bring in more books. I can bring in more gifts, or I can bring in just things that are manufactured in other places,' she said. 'But that doesn't mean I'm going to have the best stock for every developmental age, for every special need." The retail industry may have to keep taking a whack-a-mole approach to navigating the White House's latest tariff ultimatums and temporary reprieves. Last week, the president again reset the rates on imports from Brazil, the European Union, Mexico, and other major trading partners but said they would not take effect until Aug. 1. The brief pause should extend the window importers have to bring in seasonal merchandise at the current baseline tariff of 10%. The Port of Los Angeles had the busiest June in its 117-year history after companies raced to secure holiday shipments, and July imports look strong so far, according to Gene Seroka, the port's executive director. 'In my view, we're seeing a peak season push right now to bring in goods ahead of potentially higher tariffs later this summer," Seroka said Monday. The pace of port activity so far this year reflects a 'tariff whipsaw effect' — imports slowing when tariffs kick in and rebounding when they're paused, he said. 'For us consumers, lower inventory levels, fewer selections and higher prices are likely as we head into the holidays.' Smith, who co-owns the two JaZams stores with his partner, Joanne Farrugia, said they started placing holiday orders two months earlier than usual for 'certain items that we felt were essential for us to have at particular pricing.' They doubled their warehouse space to store the stockpile. But some shoppers are trying to get ahead of higher prices just like businesses are, he said. He's noticed customers snapping up items that will likely be popular during the holidays, like Jellycat plush toys and large stuffed unicorns and dogs. Any sales are welcome, but Smith and Farrugia are wary of having to restock at a higher cost. 'We're just trying to be as friendly as we can to the consumer and still have a product portfolio or profile that is gonna meet the needs of all of our various customers, which is getting more and more challenging by the day,' Smith said. Balsam Brands' Harman said he's had to resign himself to not having as robust a selection of ornaments and frosted trees to sell as in years' past. Soon, it will be too late to import meaningful additions to his range of products. 'Our purpose as a company is to create joy together, and we're going to do our very best to do that this year," Harman said. 'We're just not going to have a bunch of the items that consumers want this year, and that's not a position we want to be in."