Stories from earlier this week and beyond.
IIT Madras Global Research Foundation has launched its first US center in Menlo Park, California, signaling a major push to strengthen India’s deep-tech ecosystem. The center is designed to connect Indian deeptech startups with international capital and market access, positioning the institute as a gateway to global opportunities and partnerships.
Hero MotoCorp shares gained around 2% after the company posted record Q4 FY26 revenue and profit, supported by strong volumes, premium launches and momentum in electric mobility. Still, Goldman Sachs sees potential 16% downside, citing risks around commodity inflation, supply-chain stability and whether FY27 market-share trends can hold despite the improved quarter.
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Music composer Palaash Muchhal, already under intense public scrutiny after an infidelity scandal tied to Smriti Mandhana, is reportedly facing a new legal challenge. Reports say he made casteist remarks against Smriti’s childhood friend from Sangli, prompting the friend to take legal action. The developments add fresh pressure for Muchhal amid continuing media attention.
An interim India US trade pact is expected to be wrapped up before late July, but the final signature is being complicated by changes to U.S. emergency trade powers. After a Supreme Court ruling against the administration’s emergency approach, current surcharge measures are set to expire, making a pre-July agreement crucial to avoid heavier Section 301 penalties.
The Reserve Bank of India is reportedly exploring a new route to strengthen the rupee by allowing state run banks to issue foreign currency bonds. The idea aims to draw fresh capital inflows and could use instruments with roughly five year maturities. While still early, it revives a strategy last used decades ago.
China is moving fast from lab research to everyday AI use, with citizens and businesses adopting tools for daily work and services. Companies are building and commercializing AI applications, while the country keeps pouring money into R&D despite US export controls. The result could be a shift in global AI practices as China positions itself as an innovation leader.
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Indian benchmark indices opened lower on Tuesday, May 5, with the Sensex down 0.21% to 77,108.38 and the Nifty 50 down 0.28% to 240,552.60. The decline tracked weakening global sentiment as uncertainty around the US Iran war escalated, keeping investors cautious right from the start of trade.
Ahead of the US employment report, investors are parsing fresh signals on labor strength and inflation persistence to gauge the Fed’s next move. With the economy still showing resilience and inflation risks not fully cooling, markets are increasingly pricing higher rates for longer—though any sign of labor weakness could reignite rate-cut expectations.
Bitcoin pushed above $81,000, drawing strength from institutional demand and short-covering as traders reposition toward a more risk-on stance. But the move isn’t being called a clean breakout: profit-taking has surfaced as holders lock in gains after the jump. Market watchers are now waiting for confirmation to see if momentum truly holds.
Portugal has tightened its path to citizenship by extending the minimum residency requirement from five years to up to 10 years for most foreign nationals. The policy is designed to ease pressure on public services and also affects the country’s “golden visa” route. Reportedly, existing applications are not impacted by the new legislation.
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ideaForge Technology shares surged more than 8% after the company swung to a strong Q4 FY26 turnaround, reporting a Rs 60 crore net profit versus a year-ago loss. Revenue jumped about sevenfold, backed by better execution, rising order inflows, and expanding defence-related capabilities—boosting investor optimism even as technical indicators hint the stock may be overbought.
Indian companies are preparing to invest more than $20.5 billion in the United States, with plans spanning technology, pharmaceuticals, and manufacturing. US Ambassador Sergio Gor said the move is meant to deepen business ties between the two countries, while supporting American job creation and strengthening supply chains through new ventures and expanded operations.
India’s data centre buildout is surging fast, backed by hyperscalers and government support, with AI-ready capacity growing alongside major investments. But the “hidden cost of compute” is resource strain: data centres already consume significant electricity and massive water, while power and cooling trade-offs lock in impacts for decades. Meanwhile, much demand is still anchored by global players, raising questions about who truly captures the value.
Delhi Capitals suffered a brutal eight-wicket loss to Chennai Super Kings at home in IPL 2026. After the defeat, former KKR batter Manoj Tiwary launched a sharp public criticism of veteran wrist-spinner Kuldeep Yadav, accusing him of not delivering when it mattered. The remarks quickly sparked debate among fans and former players.
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Nasdaq-listed SaaS firm Freshworks posted a $4.8 million net loss in Q1 2026, reversing a $191.4 million profit from Q4 2025. Revenue rose 16% year-on-year to $228.6 million, but the company expects continued growth alongside belt-tightening. Freshworks will cut about 11% of its workforce, roughly 500 employees, citing AI adoption and automation, with $8 million in one-time restructuring charges.
Chinese blue-chip stocks surged to a four-year high as investors piled into technology shares fueled by global artificial intelligence optimism. Domestic economic resilience also helped sentiment, with services activity expanding faster in April. Huawei’s expected AI chip revenue growth added momentum, while energy stocks fell as Middle East tensions eased.
Even as the Nifty faces a $39 billion foreign institutional investor selloff, BlackRock’s Ben Powell says he remains overweight on India. His view rests on normalized valuations and durable medium-term growth, supported by demographics and policy reforms. Powell argues the current foreign withdrawal is driven by short-term concerns—AI-driven risk appetite and an energy crunch—rather than a break in India’s fundamentals.
A rare rainbow cloud in Indonesia has stunned residents and flooded social media as people wondered what caused the shimmering bands. Weather experts say it’s a natural atmospheric effect: sunlight refracts and reflects through tiny water droplets in thin clouds. The colors are often linked with changing weather, commonly signaling rain is on the way.
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Larsen and Toubro shares slid about 4% after Q4 net profit fell 3% year on year to Rs 5,326 crore. Revenue, however, climbed 11% to Rs 82,762 crore, with international business contributing more than half. EBITDA grew 5%, suggesting operations stayed resilient across engineering and services even as profits cooled.
ITA Airways says it will not cut flights even as jet fuel costs rise. The carrier has hedged about 80% of its 2026 fuel requirements, giving it room to act. It plans a 5% to 10% fare increase this year to offset higher expenses. CEO Joerg Eberhart also noted Lufthansa’s stake expansion is still pending.
Victorious TVK MLAs are reportedly staying at a luxury resort in Mamallapuram as Vijay moves toward forming the Tamil Nadu government. TVK won 108 seats but fell short of a majority, turning the spotlight on alliance dynamics after the Tamil Nadu Congress decided to support TVK. Analysts warn opposition parties may recalibrate as the deal could ripple into national politics.
Gold and silver surged on MCX on Wednesday as a weaker dollar and easing oil prices reduced inflation and rate worries. Optimism around potential US Iran peace talks also lifted sentiment. MCX silver climbed about 3.1% to roughly Rs 2,52,000 per kg, while gold rose around 1.7% to about Rs 1,52,182 per 10g after US President Trump hinted at progress.
A fresh rift has erupted in the INDIA alliance after Congress chose to back Vijay-led Tamilaga Vettri Kazhagam (TVK) to form government in Tamil Nadu. DMK lashed out, accusing Congress of “backstabbing” and warning that the decision could damage the alliance’s credibility ahead of the 2029 elections, heightening uncertainty inside the bloc.
Ask.com has officially shut down, with the site unavailable as of May 1, 2026. Once a trailblazer for natural language, question-based queries, it lasted nearly 20 years before its parent company IAC decided to exit the search business. The closure underscores how AI assistants and smarter search engines have replaced standalone platforms built for asking questions.
A West Bengal police officer’s candid bike ride video has gone viral after the polls, sparking debate over police neutrality and accountability. In the clip, she addresses public criticism and says her role is to follow government directives, raising uncomfortable questions about how officers distance themselves from past actions and what citizens should demand in a democracy.
Sri Lankan police say they have arrested over 600 foreigners, including Indian nationals, for cybercrime this year. Investigators claim many were tourist visa overstayers and were picked up in Colombo’s suburbs. Authorities have asked the public to report suspicious tenants, saying such tips can help disrupt international syndicates behind online fraud and related crimes.
After a crushing defeat for Mamata Banerjee’s TMC in West Bengal, BJP leader Samik Bhattacharya claimed the party won’t return to power and likened it to actor Anupam Kher growing hair. Kher responded humorously to the jibe. BJP’s landmark win of over 200 seats adds to TMC’s setback and ratchets up political sparring.
Kolkata Police has dismissed a viral “advisory” circulating on social media as fake and misleading, assuring residents that law and order in the city is normal and being closely monitored. In a statement on X, the police warned that strict legal action will be taken against people spreading false information that could cause panic.
Mahindra & Mahindra’s Q4 FY26 results largely met top-line expectations, boosted by strong volume growth. Yet rising aluminium and steel costs are expected to pressure margins, with the full effect likely landing in Q1 FY27. Investors will also track how the company manages raw material inflation, alongside its EV roadmap and farm equipment demand amid El Niño conditions.
Jeff Bezos and Lauren Sánchez Bezos have been named lead sponsors and honorary chairs for the Met Gala 2026, igniting a fast-growing protest and boycott demand across the U.S. Critics say Amazon workers and activists see the sponsorship as a symbol of billionaire power. The backlash also draws attention to how the boycott narrative appears linked to Donald Trump’s political rhetoric.
As cooking gas shortages bite amid global events, villagers in Uttar Pradesh are switching to biogas made from cow dung. The homegrown fuel helps run household kitchens and also produces useful fertilizer. With government backing tied to carbon neutrality targets, the small rural shift is gaining traction as a practical, sustainable energy alternative.
Larsen & Toubro’s Minerals & Metals division has won its biggest domestic metals order from JSW Steel, valued between Rs 10,000 crore and Rs 15,000 crore. The deal covers engineering, procurement and installation of key process facilities to help JSW expand capacity to over 50 MTPA by 2031, largely across Karnataka and Odisha sites.
A former FedEx driver, Tanner Horner, has been sentenced to death for killing 7-year-old Athena Strand in Texas. Courtroom footage showing his emotionless reaction to the verdict has gone viral. Jurors said the evidence, including audio from Horner’s delivery vehicle, showed he posed an ongoing danger. Athena was found two days after she went missing.
South Korea’s Kospi surged to a record high as Samsung Electronics rallied sharply, fueled by optimism around artificial intelligence-driven growth. Chipmaker SK Hynix also gained strongly, reinforcing the market’s AI momentum. Across the ocean, Wall Street pushed to fresh all-time highs as easing oil prices and corporate results beating expectations supported risk-on trading.
CBSE Class 10 Phase 2 admit cards are expected soon for exams starting May 15, 2026. Regular students will receive hall tickets from their schools, while private candidates must download admit cards online. The second phase includes over 6.6 lakh registered students, giving them another shot to improve results. CBSE results are anticipated in June 2026.
Godrej Properties was among five F&O stocks where futures open interest surged sharply on May 05, pointing to fresh positioning and stronger trading activity. Vedanta and Hyundai Motor India also saw the move, while overall open interest rose more than 10%. The spike suggests heightened participation in derivatives as momentum builds in select counters.
A 69-year-old man opened fire in Texas during a business meeting at a shopping center, killing two people and injuring three others. Police later discovered a second victim at a nearby apartment. The suspect reportedly confessed, blaming financial disagreements, and was arrested after a brief chase as authorities investigate the full sequence of events.
IN-SPACe and BIS hosted the 36th ISO TC 20/SC 14 plenary and working group meetings at Bharat Mandapam, New Delhi, for the first time. From May 4–8, more than 200 delegates from 33 member nations in hybrid format will shape standards for sustainable, commercially viable space operations—spanning debris, environment, downstream services, and design engineering.
Stack Infrastructure, backed by Blue Owl Capital, is reportedly exploring a sale of its Asia operations, with deal values potentially exceeding $30 billion. The move comes as Blue Owl faces investor withdrawal limits. Despite the liquidity pressure, global investors remain aggressive in Asia data centers, attracted by surging cloud computing and AI demand.
Prime Minister Narendra Modi praised the Union Cabinet’s approval of three new railway projects worth about Rs 23,437 crore. The lines are set to improve connectivity across 19 districts spanning six states, strengthen infrastructure and operational efficiency, and make key tourist destinations more accessible. The government expects the move to support economic growth and generate employment.
A rare hantavirus outbreak has sickened passengers and crew aboard a cruise ship that departed from Argentina, with three deaths and one person in intensive care. The vessel is now off the coast of West Africa, where health officials are investigating how infections spread onboard. Evacuations are underway for those needing urgent medical care as authorities work to contain the outbreak and identify the source.
The Khalistan Liberation Army has claimed responsibility for an IED blast outside the BSF Punjab Headquarters in Jalandhar. In a letter, it said the attack was carried out to avenge the death of Ranjit Singh, a militant killed in a Punjab Police encounter in Gurdaspur in February. The outfit is also accused of inflating casualty figures.
Delhi NCR saw heavy rainfall, thunderstorms and lightning on Tuesday night across Delhi, Noida, Gurugram and Ghaziabad. IMD says no major warning is in place for Wednesday, though isolated thundery activity may occur in Delhi. From Thursday, temperatures are set to rise, with Noida and Gurugram likely to see another round of rain around May 10–11.
Indian markets opened higher on Wednesday, with the Sensex surging over 400 points and the Nifty reclaiming 24,100. Investors cheered easing geopolitical worries, softer crude oil prices, and a sharp drop in India VIX, signaling calmer conditions. The combination quickly improved sentiment, lifting benchmark indices in early trading.
The luxury cruise ship MV Hondius is heading to Spain’s Canary Islands after Spain granted permission to dock following a hantavirus outbreak that has reportedly killed at least three people. Spanish authorities cited humanitarian grounds, alongside requests from the WHO and the EU. The operator said two crew members need urgent medical care.
Amritsar police tightened security in the Khasa area after a blast near the cantonment. Movement restrictions and road closures were imposed to support surveillance, while security agencies and the Bomb Disposal Squad investigated the incident. No casualties have been reported so far. Punjab Congress has demanded accountability, and authorities are working to determine what caused the blast.
Kolkata saw an overnight drive by municipal authorities at the historic Hogg Market, also known as New Market, in Dharmatala. Bulldozers demolished multiple illegal shops and encroachments that, officials said, violated market regulations. The operation began late last night and continued into the early hours, drawing attention to enforcement in the city’s iconic colonial-era marketplace—one day after BJP’s Bengal win.
The U.S. Department of State says it will phase out the Consulate General in Peshawar, citing safety risks to diplomatic staff and the need to manage resources. Going forward, U.S. diplomatic engagement for Pakistan’s Khyber Pakhtunkhwa will be handled by the U.S. Embassy in Islamabad. Other U.S. consulates in Pakistan will remain operational.
Carrier is set to break ground on a ₹1,000 crore advanced chiller manufacturing facility in Sri City, as Andhra Pradesh pushes beyond hosting data centers to building the manufacturing ecosystem that powers them. The move rides a wave of major AI and hyperscale investments in Visakhapatnam, with the state aiming to scale cooling, power, and component supply locally.
Sunil Gavaskar praised Sanju Samson after his match-winning, unselfish knock of 87 not out off 52 balls against Delhi Capitals. Samson’s selfless approach powered CSK to a dominant eight-wicket victory in IPL 2026, with his performance drawing major admiration from the cricket legend. The comment has sparked fresh debate about what it takes to play winning knocks.
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