Stories from earlier this week and beyond.
A proposed US student loan bill would change how forgiveness is calculated for borrowers who lose jobs. It could count months with no payments toward debt relief, potentially helping middle-class workers avoid long delays. Many on income-based repayment plans may benefit, while the bill also outlines faster relief steps. However, it is not final and still needs government approval.
Katie Haun says her firm has raised $1 billion across new venture funds, doubling down on its core thesis: funding crypto and blockchain startups. The announcement signals fresh capital ready to target the next wave of Web3 companies, as the sector continues to attract both believers and skeptics looking for real-world adoption and durable networks.
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The IRS has extended the federal tax filing deadline for eligible Washington residents and businesses affected by severe weather under a FEMA disaster declaration. Instead of the usual timeline, qualifying taxpayers get until August 15, 2026 to file. The update also lands as Americans nationwide look toward an average refund of about $1,700, often used for essentials like rent and groceries.
Eternal’s new CEO Albinder Dhindsa inherits a strong-looking Q4 FY26, with profits up 4.5x YoY. But the key red flag is under the headline: without other income, the quarter turns into a loss as expenses spike 185%. The firm’s triple play—Blinkit quick commerce, Zomato delivery, and District going-out—shows scale now, margins later.
Chinese electronics maker TCL is in talks with Indian companies to sell a 51% majority stake in its display plant in India. The company is reportedly seeking between ₹5,708 crore and ₹7,611 crore for the divestment, while planning to retain a 49% share. Several Indian firms are said to be in early-stage discussions to acquire the stake.
IndiGo has appointed Jochen Hoesch, formerly with Airbus, to lead its AI, data, and analytics function. The airline says the move is aimed at improving operational efficiency and upgrading the customer experience, while accelerating investment in digital infrastructure. With aviation facing intense competition and efficiency pressures, IndiGo is betting on advanced tech to stay future-ready.
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West Bengal Chief Minister Mamata Banerjee slammed the BJP’s election victory, claiming it “looted” over 100 seats and calling the win immoral and illegal. She also alleged the Election Commission is “BJP’s commission,” accused that CCTV was switched off during counting, and said agents were barred. Banerjee said she lodged complaints over the alleged irregularities.
State election surprises in India are being met with alarm as concerns grow over voter-roll deletions. Electoral roll issues and a special revision process have led to reports that millions were removed from voter lists, particularly in West Bengal. The uncertainty threatens confidence in the credibility of outcomes and puts the integrity of democratic institutions under sharper scrutiny.
BJP has ended 15 years of TMC rule in West Bengal, winning a clear majority by targeting women voters with welfare commitments and repeatedly raising safety concerns. The shift also reflects classic anti-incumbency as corruption scandals weakened trust, while fragmented minority support reduced TMC’s ability to hold coalitions. The result marks a major political realignment in the state.
Suvendu Adhikari has described his Bhabanipur win over Mamata Banerjee as crucial to the BJP’s Bengal momentum, saying the defeat signals the end of Banerjee’s political run. He won by more than 15,000 votes, attributing victory to consolidated cross-community support. Union Home Minister Amit Shah also called him during the counting process.
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Russia says it will hold a unilateral ceasefire with Ukraine from May 8-9, timed with Moscow’s World War II Victory Day. The announcement, attributed to Putin, comes with a stark warning: if Ukraine breaks the truce, Russia will conduct a “massive missile strike” on Kyiv. Observers will watch whether the window holds amid rising tensions.
Hyundai is testing the next-generation Creta, pointing to a major shift in design with a squarer, more assertive stance. The SUV is also expected to grow in size and move to a new platform aimed at improved safety and more interior space. Engine lineups may largely stay, with a strong hybrid variant potentially arriving later, and the new Creta is expected around 2027.
India’s direct tax collections edged up in FY26, but the overall mop-up missed the revised target by ₹81,000 crore. Lower-than-expected corporate and personal income tax collections drove the shortfall, even as officials pointed to an underlying resilience in the economy. Tax growth is expected to moderate further, with a clearer assessment by June.
The UAE says Iran has resumed attacks after the US moves to reopen the Strait of Hormuz. Iran reportedly launched missiles and a drone, triggering fires and injuries on two cargo vessels. The US Navy is working to restore shipping traffic, while Iran warns that foreign forces will be targeted, escalating tensions across a vital maritime chokepoint.
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India’s manufacturing sector expanded modestly in April, with PMI rising to 54.7 as new orders and production improved and exports stayed strong. But inflation pressure is building: input prices accelerated at their fastest rate since August 2022, with output prices also climbing quickly. Hiring strengthened, hinting at optimism despite the cost shock linked to West Asia tensions.
Brent crude jumped above $119 a barrel after the UAE said a suspected Iranian drone attack hit an oil facility. Traders are increasingly focused on potential disruptions to key Middle East supply routes, pushing prices higher and adding volatility to global markets. Analysts warn uncertainty could persist, with further gains possible if tensions escalate.
Bajaj Auto and four other BSE 100 stocks hit fresh 52-week highs, with recent rallies reaching as much as 40% over the past month. The group includes Adani Power, Adani Ports, Nestle India, and Cummins India, signaling broad-based strength across sectors rather than isolated momentum.
Indian markets ended higher as election trends lifted overall sentiment, setting off sharp stock moves. Valor Estate, BHEL, and Vedanta stood out among gainers, while Sun TV, Avenue Supermarts, and Kotak Bank fell. The day highlighted how quickly political cues can reshape trading momentum across sectors.
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RBI has appointed Rojit Jain as a new deputy governor for a three-year term, effective Monday. He has taken over several key departments previously managed by T Rabi Sankar, while Shirish Chandra Murmu now oversees currency management and payment systems. Jain will also steer areas spanning IT, fintech, and financial markets, broadening the RBI’s tech and market focus.
The US stock market turned sharply lower as the Dow fell about 565 points and the S&P 500 and Nasdaq also slid, with every sector ending in red. Around $200 billion reportedly disappeared in minutes. Traders point to surging oil—WTI up about 3.4% and Brent up roughly 5%—as rising tensions near the Strait of Hormuz rapidly shifted investor sentiment.
MTAR Technologies and three other NSE-listed firms with market caps above Rs 10,000 crore touched their 5-year swing highs on April 30, reflecting bullish momentum. MTAR Technologies and Hitachi Energy India are now nearing key resistance levels, with technical indicators hinting at further upside. However, the report notes not every move yet qualifies as a confirmed breakout.
Tamil Nadu’s 2026 election outcome may spark a major internal reshuffle in both the DMK and AIADMK. Analysts say the TVK’s strong showing could pressure existing leadership and expose brittle party unity. With both camps preparing for future contests, experts suggest the AIADMK may face leadership changes and push for reunification to prevent factional splits.
Even days after a critical vulnerability in cPanel and WHM was disclosed, attackers are continuing to target web hosting servers and compromise websites. The activity suggests many systems remain unpatched or exposed, leaving site owners vulnerable to account takeover and further malicious access attempts. Security teams warn administrators to verify fixes and harden deployments immediately.
Oil prices fell after reports that Iran is proposing renewed talks with the US, but markets stayed poised for strong weekly gains. Traders kept reacting to geopolitical headlines, as tensions near the Strait of Hormuz and ongoing supply disruptions continue to outweigh the easing signal from negotiations and a fragile ceasefire amid export restrictions.
Wall Street futures swung sharply on Monday after conflicting reports said a U.S. warship was near the Strait of Hormuz. The uncertainty intensified investor anxiety around Middle East tensions, driving volatility in risk assets. Traders are now watching further updates closely, as any escalation risk could quickly reshape market expectations.
Salman Khan has opened up about the loss of his close friend Sushil Kumar, describing him as a “brother” of 42 years. In a heartfelt tribute, Khan remembers Kumar’s resilience and cheerful spirit through difficult phases of life. Rather than dwelling on sorrow, he says he will honor him with joy. Salman is also balancing this with upcoming film commitments.
Wall Street’s classic “sell in May” playbook is looking increasingly questionable as the S&P 500 rebounds strongly. Investors are watching a shift driven by easing geopolitical worries and solid corporate earnings, challenging the idea that history should automatically dictate summer moves. The result is a tough call between sticking to tradition or acting on current momentum and economic resilience.
The US is preparing to withdraw 5,000 troops from its bases in Germany, a decision framed by Trump as a reset of American involvement in European security. German Defence Minister Boris Pistorius says the moment demands that European allies lead their own defence planning. The announcement is already intensifying friction between Washington and key European governments.
Residents protested in Falta, South 24 Parganas, alleging threats and intimidation by Trinamool Congress cadre ahead of West Bengal Assembly vote counting on May 4. The unrest unfolded as repolling began in 15 booths in Magrahat Paschim and Diamond Harbour following Election Commission directions citing irregularities in the second phase. Heavy security forces were deployed at the scene.
Finnish lift maker Kone plans to acquire German rival TK Elevator in a $34-billion deal, positioning it among Europe’s biggest takeovers in recent times. The agreement involves TK Elevator’s private equity owners Advent International and Cinven, plus other investors. Together, the combined company would employ over 100,000 people and generate more than 20 billion euros in annual revenue.
Actor-politician Vijay’s TVK has emerged as Tamil Nadu’s single largest party, delivering a shock defeat to the incumbent DMK and Chief Minister MK Stalin. The win is being hailed as historic: for the first time since 1967, a party other than the two Dravidian heavyweights has broken through to claim a major electoral victory.
Smaller third-party UPI players plan to lobby NPCI for new limits on market leaders like PhonePe, Google Pay and Paytm. Their proposals include curbing aggressive user acquisition, tightening monetization and opening merchant services, arguing the long-delayed 30% market share cap hasn’t been implemented. The push could reshape how apps compete for UPI users and merchants.
After a tanker was hit by projectiles amid heightened US-Iran tensions, Donald Trump says the US will help guide ships through the Strait of Hormuz. The chokepoint has reportedly been blocked for over two months, leaving hundreds of vessels and thousands of sailors stranded. The US military support is aimed at restoring freedom of navigation for commercial shipping and protecting global economic flows.
ADNOC has pledged $55 billion for new projects over the next two years, shortly after the UAE officially left OPEC. The announcement comes after decades of OPEC membership tied to Abu Dhabi’s role since 1967, highlighting how the UAE plans to reshape its energy strategy immediately following the cartel exit.
Wall Street ended mixed as the Dow and S&P 500 fell while the Nasdaq climbed, with traders weighing the Fed decision, oil moves, and standout technology earnings. Energy stocks gained, but utilities and materials lagged. After the close, futures rose following a sharp jump in Alphabet shares, shifting sentiment—but tomorrow’s direction now hinges on inflation data and corporate outlook amid global tensions.
Central Asia’s venture capital ecosystem hit a record $320 million in 2025, fueled by two standout deals and rising cross-border integration. But the momentum is threatened by a significant capital gap and a limited pipeline of investable startups. Analysts say systemic reforms are needed to expand deal flow and prevent the market from stalling after the surge.
A senior Pentagon official says the US war in Iran has already cost about $25 billion. Democrats are using the mounting price tag ahead of mid-term elections, pointing to wider fallout including disruptions to oil and gas shipments that have pushed up gasoline prices. Public approval for the conflict is reportedly low, intensifying political pressure.
Self checkout was supposed to cut lines, reduce boring scanning work for employees, and lower retailer labor costs. But major chains like Walmart—and now others like Costco and Target—are moving away from it. The shift points to tradeoffs that affect store operations and costs more than expected, with customers and staff experiencing unintended friction.
Actor Trisha Krishnan visited Tamilaga Vettri Kazhagam (TVK) chief Vijay’s residence in Chennai on Monday, drawing attention in a tense political climate. The timing came as early trends for the Tamil Nadu Assembly Election 2026 showed TVK leading in 109 of 234 seats, intensifying speculation about the party’s growing momentum.
Oil prices surged around 5% after Iran’s Fars news agency reported an incident involving a U.S. warship in the Strait of Hormuz. Traders feared the vital route for global crude flows could face a longer disruption, pushing expectations for supply risk higher. The move underscores how quickly geopolitical headlines can jolt energy markets.
Legendary economist Gary Shilling warns that U.S. stocks could face a major correction, with the S&P 500 potentially plunging 30%. He also cautions that the economy may slip into recession, citing the fragility of current conditions and the likelihood of rapid market repricing. Investors are watching whether his bearish signal gains traction.
Indian exports are showing an early uptick in April even amid the West Asia crisis, according to Piyush Goyal. Full trade data for April is expected to be released in mid-May. Meanwhile, negotiations for a trade pact with the US are progressing, alongside other trade deals already finalised and more expected soon.
An H-1B tech professional in the US says visa stamping delays kept him from traveling to India for his mother’s final days. Torn between family and finances, he chose to remain in America to protect his children’s future. His account spotlights the hidden, emotional costs of global work—where paperwork can decide who gets a last goodbye.
Just a day after Lieutenant Governor Manoj Sinha led an anti-drug padyatra in Srinagar, police demolished an illegally raised house linked to a habitual drug peddler. The action is part of the intensified crackdown under the Nasha Mukt Jammu & Kashmir Abhiyaan, signaling a tougher stance against drug trafficking and illegal constructions tied to offenders.
Trump told Iran it should “get smart soon” and accept a nuclear deal, while US reports suggest Washington may already be set to reject Iran’s latest proposal. The comments come as Pentagon chief Pete Hegseth was scheduled to testify in Congress, amid renewed tensions around reopening the Strait of Hormuz and regional security stakes.
US stocks climbed to record highs as strong earnings and lower crude prices lifted the S&P 500 and Nasdaq. The rally marks the longest weekly gain streak since October 2024, defying the usual May softness. Analysts point to solid results—Q1 earnings growth of 27.8%—with 83% of companies beating estimates, keeping momentum in focus.
TVS Motor Company reported a 7% year-on-year rise in total sales for April 2026, reaching 4,73,970 units. Two-wheeler demand improved, led by a sharp increase in scooter sales. EV sales and three-wheeler sales also grew substantially, while international business added momentum—pointing to a strong month overall.
Kerala voters have ended the Left’s decade-long rule as the Congress-led UDF surged to 102 seats in the 140-member assembly, defeating the LDF. The BJP also improved its position with three seats. In a notable first for IUML, Fathima Thahiliya became the party’s first woman lawmaker, while PM Modi pledged central support for Kerala’s development.
Assembly polls in West Bengal and Tamil Nadu delivered verdicts that startled the political establishment. West Bengal ended the status quo, signaling a clear appetite for change. In Tamil Nadu, actor Vijay’s party emerged as a kingmaker, disrupting long-held calculations. Together, the results point to a broader shift toward fresh leadership and performance-driven governance.
Defence PSU BEL has signed an MoU with Metamind Systems and Kristellar Aerospace to jointly develop future-ready products and technologies for defence and non-defence use. The partnership combines BEL’s manufacturing strength, Metamind’s AI-driven analytics, and Kristellar’s aerospace R&D to create scalable, competitive solutions aligned with Make in India and Atmanirbhar Bharat.
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