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China’s internet regulator on Wednesday unveiled tougher rules to set limits on minors’ use of smartphones and other devices.

The proposed rules from the Cyberspace Administration of China require device makers, mobile operating systems and app stores to add a new “minor mode” to devices that would set time limits and curfews, in an attempt to further restrict underage device usage.

The rules would bolster limits that video game makers like Tencent and short video apps like ByteDance’s Douyin already have to restrict usage by minors beyond a few hours a week.

The regulator has set a deadline of September 2 for comments on the proposed regulations.

Haleon raised its forecast following better than expected revenue growth in the six months to June a year after it was spun off from pharmaceutical giant GSK.

The company, which manufactures the Panadol painkiller and Sensodyne toothpaste, reported 10.4 per cent organic revenue growth to £5.7bn, beating analysts’ expectations of 8.2 per cent.

Haleon has reportedly laid off employees around the world this year as part of a £300mn cost cutting drive over the next three years.

The drugmaker also announced on Wednesday it had agreed to sell its Lamisil brand to Swedish firm Karo Healthcare for £235mn.

UK homebuyers are taking on longer mortgages to cope with higher borrowing costs, according to one of the UK’s largest housebuilders.

Taylor Wimpey said in half-year results on Wednesday that 27 per cent of its first time buyers had taken mortgage terms of over 36 years in the first half of the year, compared with just 7 per cent in 2021. The number of second time buyers taking out mortgages of over 30 years meanwhile rose to 42 per cent, from 28 per cent in 2021.

The housebuilder posted £237.7mn in pre-tax profit, in line with its previous guidance, and a 28.9 per cent fall year on year, as higher borrowing costs hit demand for homes in the second quarter.

Singapore’s prime minister said he “regrets” not responding sooner to scandals that have tarnished the city-state’s image just as it prepares for a major leadership transition.

Lee Hsien Loong, the son of founding father Lee Kuan Yew, said in a speech on Wednesday he should have “forced the issue earlier” upon discovering an affair between the speaker of parliament and another member of parliament.

But he defended the integrity of the government, which is dealing with a high-profile corruption investigation involving billionaire Ong Beng Seng and transport minister S Iswaran. Both men have been arrested and released on bail.

Lee, Singapore’s leader since 2004, is preparing to hand power to Lawrence Wong, the deputy prime minister.

BAE Systems has raised its guidance for the full year after the war in Ukraine and higher spending on submarines helped boost its order intake. 

Britain’s biggest defence contractor said on Wednesday it had secured £21.1bn of new orders in the six months to the end of June, boosting its order backlog to a record £66.2bn.

Sales rose 11 per cent to £12bn on a constant currency basis, while underlying earnings before interest and tax increased 10 per cent to £1.3bn.

BAE said it expects annual earnings per share to grow by 10-12 per cent this year, up from a previous forecast of 5-7 per cent.

The company has also announced another three-year share buyback programme worth £1.5bn.

Cathay Pacific’s chief executive expects high air fares to become cheaper by next year as Hong Kong’s flag carrier restores operations amid staffing and supply chain challenges.

“Ticket prices would become more normal … [as we] catch up on the capacity front,” Ronald Lam told a conference on Wednesday. The airline has…