Stories from earlier this week and beyond.
US stocks surged as the Dow gained over 350 points, the S&P 500 pushed to fresh highs, and the Nasdaq climbed nearly 250 points. The rally was powered by Intel reaching an all-time high alongside broad strength in tech and semiconductors. Oil prices fell sharply, with WTI dropping around 3%, while select companies like Pfizer and Anheuser-Busch posted stronger-than-expected results.
Assam assembly elections delivered a major setback for Congress, winning just 19 seats and facing a weakened opposition role. Chief Minister Himanta Biswa Sarma pointed to Congress’s alleged dependence on dynastic politics. The BJP-led NDA emerged dominant, combining for 102 seats, setting the stage for a strong continuation of the state’s ruling coalition.
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Lieutenant Governor Manoj Sinha joined a people’s movement in Budgam, calling for the administration, police and civil society to work together to wipe out narcotics and protect youth. He warned that drug trafficking in Jammu and Kashmir is not just a health challenge but a national security crisis, alleging narcotics smuggled into the region help fund terrorism and radicalization as police attach property worth Rs 1.20 crore.
US job openings edged down in March, but hiring rose sharply—an unusual split that points to a job market regaining momentum. The relative stability is reinforcing expectations that the Federal Reserve may keep interest rates unchanged, even as inflation worries linger. Meanwhile, geopolitical tensions add fresh uncertainty to the economic outlook.
A US Air Force Boeing KC-46 Pegasus tanker reportedly squawked emergency code 7700 over the Persian Gulf after departing Tel Aviv and crossing the Strait of Hormuz. Earlier, a KC-135 transmitted the same emergency and then disappeared from radar. Unverified reports cite possible GPS jamming and unclear aircraft status, with no official confirmation yet. Here’s the timeline, flight path, and FL220 details.
The Department of Financial Services has approved Viability Plan 2.0 for Regional Rural Banks, a three-year programme running from 2025-26 to 2027-28. It targets better operational efficiency and stronger financial stability through four pillars: operational excellence, asset quality, profitability, and growth. The DFS will monitor key metrics including CRAR and digital adoption to measure progress.
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Armory, a 2024 defence tech startup, has secured a ₹100 Cr order from India’s defence ministry to produce and deploy its AI-powered counter-unmanned aircraft system, SURGE. The system uses proprietary Samaritan OS to detect, track, and neutralize rogue drones by scanning environments at massive speed and continuously updating its RF threat library. Armory plans to scale manufacturing, expand hiring, and invest in R&D in Manesar.
Pfizer reported higher-than-expected first-quarter sales and profit, boosting investor confidence. The company also pointed to a patent extension for its Vyndamax heart treatment and a favorable European court ruling tied to its COVID-19 vaccine. Together, the wins are expected to help secure stronger growth prospects after 2028.
Nissan plans to cut about 10% of jobs in Europe, putting roughly 900 roles at risk, as part of a wider global restructuring aimed at cutting costs and improving performance. In the UK, the automaker is changing how its Sunderland factory operates and is in talks with other companies to make use of additional space, signaling a push to stay resilient in a tough car market.
Top European tech leaders are calling for simpler, faster AI regulation, warning that the current framework is limiting innovation and growth. They argue Europe needs stronger industrial policy and easier merger approvals to help domestic companies scale. The push comes as rivals elsewhere move ahead with AI deployed in real-world products, making the timing feel urgent.
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US services activity cooled in April as the prices index stayed elevated, with diesel, gasoline and oil costs rising amid Middle East-driven energy pressure. Construction buyers are squeezed by high interest rates, inflation and oil supply issues, forcing sellers to lean on discounts and rate buy-downs to keep deals moving.
Lakshya Sen opened up about how difficult it was to sit out India’s Thomas Cup 2026 semifinal against France. The world’s top Indian shuttler admitted he “really badly” wanted to be on court, but had to watch from the sidelines. Sen described the emotional challenge of staying away despite his strong desire to play the match.
SEBI has cautioned market participants about emerging cybersecurity risks from advanced AI tools that can search for system weaknesses, including Anthropic’s Mythos. The regulator has set up a task force, cyber suraksha ai, to study these threats and outline response strategies. Firms are urged to upgrade cybersecurity controls and coordinate with technology vendors to reduce exposure.
Indian banks posted robust 15.9% credit growth in FY26, according to the Finance Ministry. The increase was broad-based, driven by services, personal loans, agriculture, and industry—signaling strong underlying demand and a resilient economy. The Ministry also pointed to India’s ability to grow rapidly despite global headwinds.
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Italian Prime Minister Giorgia Meloni has warned that AI deepfakes of her are circulating online, with fake photos reportedly amplified by political opponents. She warned the misinformation can deceive and manipulate people, especially those unable to verify authenticity. Meloni urged the public to check sources and avoid sharing unverified content, stressing the growing political threat posed by synthetic media.
The Defence Ministry has cleared a Rs 1,476 crore contract for Bharat Electronics Limited, aiming to supply five ground-based mobile electronic systems for the Indian Army. The platforms are designed to strengthen surveillance capabilities while improving battlefield networking and communications, giving troops better situational awareness and connectivity as operations evolve.
Film producer R B Choudary, founder of Super Good Films, died in a road accident near Udaipur, Rajasthan. The Telugu and Tamil film fraternity mourned a creator known for family-oriented stories and chart-topping music. Beyond hits, Choudary’s sharp instincts for compelling scripts helped shape a lasting brand for Super Good Films and its music-driven storytelling.
OpenAI has introduced GPT-5.5 Instant, replacing GPT-3.5 Instant as the default model in ChatGPT. The update signals a shift to a newer “instant” experience aimed at quicker, more capable responses for everyday prompts. For most users, the change is likely seamless, with ChatGPT automatically routing requests to the new default model.
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Shoppers Stop reported a consolidated net loss of Rs 16.35 crore for the March quarter, despite FY26 revenue rising to Rs 5,095 crore. The retail chain’s results highlight how growth in sales has not translated into profitability yet, raising questions about costs, margins and demand momentum heading into the next fiscal year.
PayPal says it is “becoming a technology company again,” framing its next turnaround around AI-led automation. The plan pairs restructuring with modernization of its tech stack, aiming to drive $1.5B in savings while reducing headcount. The company’s message: smarter systems will cut costs and accelerate product and platform upgrades amid a broader reset in how it operates.
Vehicle sales rose 13 percent to 2.61 million units last month, delivering the best-ever April for most categories. Analysts attribute the jump to strong rural demand, GST benefits and easier financing with lower interest rates. With the new financial year starting on a firm note, experts expect the momentum to carry forward for the retail auto market.
Microsoft has signed an agreement with a UK security institute to test its AI systems, aiming to validate safety and performance through independent evaluation. The move signals growing pressure for rigorous third party checks as AI deployments expand across industries. Details on scope and timeline weren’t specified, but the partnership highlights how trust and security are becoming central to AI rollouts.
The makers of Varun Dhawan and Mrunal Thakur rom com Hai Jawani Toh Ishq Hona Hai say they have not been able to secure a clean release date. After avoiding a potential clash with Yash starrer Toxic, the film now faces a new problem with Ram Charan’s Peddi moving in its way. The producer admits “Ab kya kar sakte hain” amid shifting schedules.
India’s markets regulator SEBI has issued an advisory warning that emerging AI tools used to detect software vulnerabilities may also introduce fresh cybersecurity risks for regulated entities. To address this, SEBI has formed a task force to study AI-based detection models, assess cyber threats, develop mitigation strategies, and strengthen reporting of cyber incidents across the market ecosystem.
A recall has been issued for popular potato chips due to possible salmonella contamination. The bacteria can cause serious illness, with higher risks for children, older adults, and people with weakened immune systems. If you have the affected chips at home, check the product details linked to the recall to avoid eating potentially contaminated batches.
Hero MotoCorp has reported record Q4 and FY26 profits, driven by stronger sales, premiumisation and faster EV growth. Revenue and volumes climbed, margins improved, and the company’s global expansion gained momentum. With these gains reinforcing its leadership, Hero now appears positioned for sustained mobility growth across both traditional motorcycles and electric models.
Education tech company Instructure is facing a data breach in which hackers allegedly accessed and stole students’ private information. TechCrunch reviewed a sample of the data said to be taken in the incident and reports it includes sensitive student details. The case raises fresh concerns about security at education-focused platforms and what protections are in place for minors’ data.
Alphabet is closing the gap on Nvidia’s valuation after a sharp rally powered by AI momentum and a strong cloud business. The jump puts Google’s parent company in position to reclaim the No 1 spot, signaling growing investor confidence in its ongoing AI investments and the push toward custom chip development.
American Electric Power (AEP) is increasing its investment plan to $78 billion, citing explosive data centre growth tied to artificial intelligence. The utility says it will expand generation and transmission capacity to keep up with rising electricity needs, and has already signed agreements covering 7 gigawatts of new projects aimed at supporting the next wave of power-hungry infrastructure.
Nithin Kamath says India’s stock market rally may not be a true, broad-based bull run. He points to weak cash turnover and negative equity inflows, arguing that gains are being powered more by SIP participation and leveraged trading. The result, he cautions, could be a market that looks bullish while speculative activity outweighs genuine investment.
Meta says it is rolling out a new AI-powered visual analysis system in select countries that estimates age cues like height and bone structure from images or video. The company claims it will help identify underage users and plans a broader rollout over time. The approach raises fresh privacy and consent questions as AI becomes more invasive.
Iran winger Ali Gholizadeh has been ruled out of the World Cup in North America after suffering a serious knee injury while playing in Poland for Lech Poznan. The 30-year-old previously appeared in all three of Iran’s 2022 World Cup matches in Qatar. Lech Poznan confirmed the setback late Monday, casting doubt on Iran’s wide options.
Harley-Davidson on Tuesday unveiled a fresh turnaround plan aimed at boosting motorcycle volumes by leaning into lower-priced models and strengthening its dealer network. The move comes as the company navigates changes under new CEO Artie Starrs, signaling a shift from premium-only demand toward broader affordability and wider retail execution to regain momentum.
The UAE says its air defenses are confronting missile and drone attacks originating from Iran, describing the situation as a major escalation after a period of calm. The foreign ministry warns the strikes pose a direct threat to national security and says the UAE reserves the right to respond. The statement raises regional tensions and questions over next steps.
The Union Cabinet has approved a proposal to increase the Supreme Court’s judge strength from 34 to 38, including the Chief Justice of India. A bill will now be introduced in Parliament to formalize the change. The government says the step will boost the apex court’s capacity to handle pending cases and reduce pressure on the judiciary.
A JPMorgan Chase executive, Lorna Hajdini, is named in a refiled harassment lawsuit alleging sexual advances, career-threatening conduct, and racially charged remarks toward a former employee of South Asian descent. The plaintiff claims the executive used discriminatory language and made threatening comments. JPMorgan says its prior investigation found no merit, while Hajdini’s lawyers deny the allegations.
A US KC 135 Stratotanker reportedly sent a distress signal over the Persian Gulf near Qatar. Flight data indicates the aircraft circled before descending, but US authorities have not confirmed a crash or specific emergency. The plane reportedly departed from the UAE, and regional interference is said to be common. The true reason the signal was lost remains unclear.
OpenAI and Anthropic are reportedly in talks to acquire companies that provide AI services to businesses. The aim is to bring in hundreds of engineers and consultants who can help enterprises integrate AI models into day-to-day operations. If the deals proceed, it signals a shift from building models alone toward accelerating real-world deployment and competing harder for market share.
Tony nominations for 2026 have been announced, setting the stage for the Tony Awards ceremony on June 7. The shortlist spans fresh musicals, standout plays, and major revivals, signaling a competitive race across multiple categories. With the clock ticking, theatre fans are already scanning the field for the performances most likely to take home top honors.
Vedanta Limited says its demerger will become effective in May 2026, creating standalone businesses designed to unlock value. Chairman Anil Agarwal points to strong FY26 earnings, improving profits, and expansion plans across multiple segments as signals of sustained long-term growth. The move is positioned as a strategic reset to broaden scale and sharpen focus across operations.
Delhi saw dramatic weather shifts on Tuesday, with rain and thunderstorms prompting five flight diversions at the airport. Temperatures fell sharply, offering relief from the heat, while the city logged what it called its cleanest air of the year. The weather department has issued a yellow alert for isolated rain later in the day.
Etsy is rolling out a native app inside ChatGPT, betting that a conversational experience can make shopping feel more natural and faster. The move extends the marketplace’s broader AI push, aiming to help users discover and purchase products through chat rather than traditional browsing. If it works, Etsy’s search-to-checkout path could look dramatically different.
Andreessen Horowitz’s crypto arm, a16z crypto, has secured a massive $2.2 billion for Fund V. The fund will prioritize stablecoins and AI agents, arguing that crypto’s native features are becoming more valuable as software grows more complex and AI systems stay largely opaque, reshaping what investors think the next infrastructure layer should look like.
Iranian Nobel Peace Prize laureate Narges Mohammadi is reportedly in a dire health condition, hospitalized with a severe heart ailment and placed under strict guard. Supporters say her condition has deteriorated markedly and that she is now teetering between life and death. The news has raised renewed concern over her treatment and safety as her health declines further.
Jammu & Kashmir Bank posted a 36% jump in Q4 profit, helped by improved asset quality and stronger operating profit. Annual profit reached a record high as advances and deposits grew steadily. The bank pointed to sustained demand and a sharper lending focus on retail, MSMEs, and agriculture to support growth and resilience.
Kaspersky says it suspects Chinese-linked hackers planted a backdoor into Daemon Tools, a popular Windows utility. The firm reports thousands of infection attempts and at least a dozen confirmed compromises after users installed malicious versions of the software. The incident raises new concerns about supply-chain risks and the need to verify downloads before installing.
US President Donald Trump congratulated Prime Minister Narendra Modi after BJP’s massive win in West Bengal. The White House said it was “historic” and “decisive,” framing the result as a significant political milestone for the state. Analysts say the victory could mark a broader tilt toward right-wing politics in West Bengal’s political landscape.
BJP MLA-elect Suvendu Adhikari escalated his attack on Mamata Banerjee, saying she has little to do but follow the Constitution after losing her Bhabanipur seat. The comments come as the BJP reportedly secured a two-thirds majority in West Bengal, intensifying pressure on Banerjee to step down as Chief Minister despite her refusal.
TVK chief Vijay has reportedly asked Congress for support to form the next government in Tamil Nadu, according to KC Venugopal. He said the Congress’s Tamil Nadu unit will meet TVK leadership in Chennai on Wednesday morning and decide on government formation afterward. The claim comes amid shifting coalition expectations after Vijay’s major electoral surge.
Guardant Health plans to launch a new blood-based multi-cancer test in India developed with Zydus Lifesciences. Designed for earlier detection, it can target cancers including lung, breast, and prostate. The move comes as India faces a high cancer burden alongside low routine screening rates, aiming to make screening more accessible and prompt.
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