Stories from earlier this week and beyond.
The Indian rupee fell to an all-time low of 94.90 per dollar, dipping intraday to 95.33, as crude oil prices crossed $125 a barrel. RBI intervention helped limit further losses, with the central bank focused on keeping the rupee above the key 95 level. Markets now watch for further FX volatility.
Maharashtra Chief Minister Devendra Fadnavis said the state takes pride in the Marathi language and urged everyone to learn it, with the government offering support. At the same time, he made it clear that violence or controversy tied to language will not be acceptable. He also pointed to Maharashtra’s economic strength and wished people on International Labour Day.
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PolyCycl is tackling India’s plastic waste challenge with chemical recycling that can convert hard-to-recycle plastics into valuable raw materials. The approach helps brands comply with tightening Extended Producer Responsibility norms by turning problematic waste streams into inputs for new products—aiming to reduce landfill and keep plastics in productive use.
Bengaluru saw intense rainfall, thunderstorms and hail, bringing relief from the heat. The IMD has issued an orange alert for parts of Karnataka, forecasting heavy showers and gusty winds up to 60 kmph for the next two days. In the city, additional rounds of showers with thunderstorms may continue until tomorrow, May 2.
Kotak Mutual Fund has temporarily restricted subscriptions in four international funds, limiting new investments to up to Rs 1 lakh per PAN per month. Existing SIPs will continue as usual, but fresh inflows are capped, reflecting continuing overseas investment limits. The funds have posted strong returns over the past year, making the restriction especially notable for new investors.
The USS Gerald R. Ford carrier strike group is leaving the Middle East after a long 10-month deployment, shrinking US naval presence as diplomacy with Iran stalls. The Trump administration is also arguing it does not need congressional approval for ongoing military actions, pointing to a ceasefire that pauses the War Powers timeline.
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Delhi Metro has issued a travel advisory for commuters on the Red Line (Line 1) for Madhuban Chowk station from May 1 to May 15, 2026. Due to construction work, Gate No. 2 and Lift No. 3 will remain closed, forcing passengers to use alternate entry and exit routes. Check the updated access details before you travel.
The Airline Pilots’ Association of India has written to the DGCA urging immediate implementation of the court-mandated Flight Duty Time Limitations (FDTL). ALPA cites persistent deferments of full rollout, warning that fatigue is undermining flight safety and regulatory credibility. The pilots’ body points to recent pilot deaths, pressing authorities to act faster rather than postpone again.
Airport operators are urging India’s Ministry of Civil Aviation for urgent financial relief after a 25% cut to landing and parking charges for domestic flights strained their cash flow. They warn of revenue losses and operational risks, and are seeking measures like deferring payments to AAI. Some also propose raising User Development Fees to offset losses.
India’s fertilizer position looks resilient despite tensions in West Asia. Domestic urea output in March–April hit 37.49 lakh tonnes, almost in line with last year. Meanwhile, the government has secured 37 lakh tonnes of imported urea to protect supply ahead of the Kharif season, aiming to prevent shortages from disrupting farm inputs.
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Foreign portfolio investors withdrew Rs 60,847 crore from Indian equities in April, extending a broader selloff that pushed outflows to Rs 1.92 lakh crore in the first four months of 2026. Geopolitical stress and global growth worries rattled risk appetite, while rising crude oil lifted inflation expectations, trimming rate-cut hopes and raising bond yields—leaving valuations looking stretched.
Security has been increased outside the strong room at Kolkata’s Netaji Indoor Stadium ahead of May 4 vote counting. The move follows TMC allegations that the BJP is involved in alleged irregularities, prompting senior party leaders including Shashi Panja and Kunal Ghosh to stage a sit-in protest at the strong room area.
Toyota Motor is expanding aggressively in Maharashtra with three new assembly plants. The company expects the move to triple its production, targeting up to one million vehicles annually by the 2030s. The project is backed by an estimated investment of about 300 billion yen, signaling a major shift in Toyota’s India manufacturing footprint.
Apple CEO Tim Cook says he’s “over the moon” about India, calling it a major growth opportunity. The iPhone maker is already seeing momentum in the country and has opened its sixth store, underscoring how India fits into Apple’s broader global expansion strategy.
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Indian markets may open higher next week as GIFT Nifty rises about 200 points on Friday morning. After a sharp selloff, investor focus is on crude oil prices and global developments, especially worsening sentiment tied to US-Iran tensions. Meanwhile, foreign investors have continued selling, keeping traders cautious ahead of key economic data.
Masala dosa, a South Indian street staple from Tamil Nadu, has entered global culinary headlines by ranking sixth on TasteAtlas’ list of the world’s best pancakes. Made from fermented rice and lentil batter and filled with spiced potatoes, it scored a 4.3 rating. The dish’s ancient roots include temple traditions where it’s offered as sacred food.
A federal judge has rejected the Trump administration’s move to make immigration applications harder for people from countries on the travel ban list. U.S. District Judge Julia Kobick issued a preliminary injunction, saying the policy violates the Immigration and Nationality Act’s ban on nationality-based discrimination and conflicts with agency regulations.
Voting has ended in West Bengal for 2026, with exit polls pointing to a close contest between Mamata Banerjee’s TMC and a resurgent BJP. The key question is whether Banerjee can withstand anti-incumbency after nearly 15 years, as BJP’s momentum challenges TMC’s grassroots resilience. The real verdict will come on counting day.
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SanDisk says its latest quarter benefited from the AI boom, driving a sharp jump in revenue and profit. The company also locked in long-term contracts worth at least $42 billion, aiming to protect margins from volatile pricing. Adding to the upbeat outlook, SanDisk plans a major $6 billion share buyback program.
Ahead of the NEET UG 2026 exam on May 3, the National Testing Agency has outlined detailed exam-day rules. Candidates are advised to wear light clothing and slippers to speed up entry, while biometric verification remains mandatory. Importantly, NTA has set out procedures to handle technical failures, aiming to ensure no candidate is denied the exam due to biometric issues.
Apple’s stock rally gathered steam after the company posted earnings that beat expectations, driven by stronger iPhone demand and continued services growth. Investors also leaned into fresh AI optimism, pointing to resilience across global markets and steady shareholder returns. Still, the move faces headwinds from valuation concerns and uncertainty around long-term growth.
April 30, 2026 saw a burst of funding across India’s startup scene, from Ctruh’s $2.5M seed round for browser-based XR tools to Oolka’s $14M Series A for AI credit management. Kissht pulled in ₹278 crore from anchor investors ahead of its IPO. Meanwhile, Cars24’s COO Mehul Agrawal stepped down and IndiaMART’s Q4 profit fell 72%.
Tensions in West Bengal surged as Trinamool Congress MP Kalyan Banerjee attacked Union Home Minister Amit Shah with personal slurs, calling him a “gunda” and “jallad” during a speech. Banerjee alleged the BJP-led Centre is misusing agencies against the TMC ahead of elections and claimed the Election Commission is acting partially towards the BJP, fueling a fresh political flashpoint.
Britney Spears has been seen in public after completing rehab, with sources saying she is doing well and remains positive about what’s next. The appearance comes shortly after she was charged with driving under the influence, and she is reportedly set to appear in court soon. Witnesses describe her as relaxed and seemingly unbothered.
Buoyed by exit poll projections, the BJP has called a key meeting of senior leaders and campaign in-charges in Kolkata to map its strategy for results day. The party plans to deploy leaders across West Bengal, set up a control room to monitor counting closely, and quickly address any concerns as votes are tallied.
KPMG has laid off nearly 400 consultants in its US advisory business, affecting about 4% of the team, as demand declines in areas tied to regulatory risk, customer operations, and financial services. The firm says it’s a strategic realignment rather than a simple staff reduction, while ramping hiring in cybersecurity, forensic consulting, and AI transformation roles.
Tesla reported Elon Musk’s 2025 compensation at $158 billion, but the headline number mostly represents the potential value of stock awards. The company stresses that realized compensation can differ sharply from reported figures. Whether Musk actually earns that amount hinges on Tesla’s stock performance and meeting specific operational milestones—he has not cashed in yet.
FIFA president Gianni Infantino has confirmed Iran will participate in the expanded 48-team 2026 World Cup and play fixtures in the United States, even amid heightened tensions between Iran and the US. Speaking on the matter, Infantino framed it as his responsibility to “bring people together.” Iran has qualified and is set for Group G.
Amazon says it will recruit 11,000 software engineers, interns, and developers in 2026 even after cutting about 30,000 jobs in 2025 and early 2026. AWS CEO Matt Garman frames it as a workforce rebalancing driven by AI demand, arguing roles are shifting toward systems integration and faster AI-assisted problem solving rather than disappearing.
President Trump has greenlit the Bridger Pipeline Expansion, a 650 mile Canada to U.S. oil line designed to move up to 550,000 barrels per day for export and refining. The project could still face environmental scrutiny over potential spill risks, even as the company points to safety systems and AI based leak detection to reassure regulators.
Market expert Sudip Bandyopadhyay warns India’s stock markets are heading into uncertainty as the rupee weakens and crude prices stay high. He flags a potential monsoon deficit as a second major risk that could pressure growth and corporate earnings. His advice: pace entries, prefer large caps and domestically oriented firms, and watch for stabilization in oil prices.
A junior engineer in Prayagraj, Abhay Kumar, climbed a mobile tower to demand revocation of his suspension, saying it was imposed arbitrarily after linemen died linked to a malfunction in the 11KV Chhibaiya feeder. Rajya Vidyut Parishad Junior Engineer Sangathan officials alleged “forced harassment” and demanded action against senior officials, after Kumar’s protest drew attention.
As India’s heatwave deepens beyond June, power grids are taking a hit from soaring electricity demand and tightening supply. Higher temperatures strain networks even as energy deficits worsen amid global disruptions, raising the likelihood of rolling blackouts. Millions may be forced to cope with outages while facing relentless heat and an already stressed power system.
Tensions rose in Kolkata’s Bhabanipur assembly as BJP workers blocked a Trinamool Congress vehicle, alleging it carried suspicious items. The incident comes as Chief Minister Mamata Banerjee visited the Bhabanipur strong room late Thursday night, warning her party would prevent any attempt to tamper with electronic voting machines. The standoff underscores heightened election security concerns.
Crude oil prices surged after efforts to ease the West Asia conflict stalled, with a key factor being reports that the US Navy is preventing Iranian crude exports. Brent crude futures for July climbed 1.08% to about $111.59 per barrel, underscoring how export bottlenecks and geopolitical tensions can quickly lift global energy benchmarks.
India’s pharmacy delivery model is shifting as quick-commerce apps make it simpler to reorder medicines and health products. Overall sales haven’t surged, but demand is moving: wellness items are rising while acute care medicines are declining. With more shoppers turning online for health essentials, the market appears to be changing its mix rather than booming overall.
Hindustan Aeronautics Ltd (HAL) announced that Dr. D K Sunil has stepped down as Chairman and Managing Director upon his superannuation on April 30, 2026. He took over these roles in September 2024. The company disclosed the change through a regulatory filing, signaling a transition in the top leadership at one of India’s key defence aerospace firms.
Donald Trump says he resolved the India Pakistan conflict in 2025 by threatening 200 percent tariffs to prevent fighting between nuclear-armed rivals, claiming it saved millions of lives. India disputes that account, saying the ceasefire happened after Pakistan’s DGMO contacted India’s counterpart. The dispute also follows India’s Operation Sindoor after a terror attack.
The Government of Singapore’s India portfolio fell even as a handful of holdings powered ahead, with 10 stocks rallying as much as 70% over the past year. Gains were uneven—some delivered double-digit returns while others posted sharp declines. The portfolio also added five new stocks in the March 2026 quarter, signaling ongoing reallocation across sectors.
Meta says first-quarter 2026 profits jumped 61% to $26.8 billion and revenue rose 33% to $56.3 billion, with earnings per share beating forecasts. Still, the company plans about 10% layoffs and eliminates thousands more roles, citing productivity gains to fund a major AI push. Capital expenditure guidance also climbs as data center spending accelerates.
In West Bengal, Chief Minister Mamata Banerjee’s late-night hours inside a Kolkata strongroom has intensified a standoff over EVM security as the 48-hour countdown to Assembly poll results begins. Trinamool Congress leaders have protested and alleged tampering concerns, while Mamata issued a “life-and-death” warning, setting the stage for a high-voltage political battle ahead of final counting.
ECB President Christine Lagarde dismissed stagflation worries in the euro zone, saying today’s conditions don’t match past stagflation patterns. The ECB kept interest rates unchanged and projected only modest growth, even as inflation pressures persist and the balance of risks to both growth and inflation has worsened.
NASA has slipped Artemis III to no earlier than late 2027, extending delays for its next crewed Moon mission. The setback stems from technical problems across the mission chain, including lunar landing system issues tied to SpaceX and Blue Origin, cryogenic fuel storage challenges, and concerns around Orion’s heat shield readiness.
Bengaluru deep-tech startup Ctruh has raised a $2.5 million Seed round led by Inflection Point Ventures to build the infrastructure layer for the spatial internet. Backed by multiple Indian funds and angels, it plans R&D for a proprietary browser-native 3D engine and VersaAI generative AI platform, while scaling go-to-market in the US and UAE. Ctruh also gained visibility on Shark Tank India.
With new Federal Reserve leadership approaching, investors are adjusting expectations for possible rate cuts. A visible split within the Fed, alongside rising energy prices, is clouding the path back to lower borrowing costs. The result: markets are bracing for a longer stretch of higher rates, which could pressure investment plans and complicate the Fed’s inflation-control efforts.
Thermos is recalling more than 8 million Stainless King food jars and Sportsman food and beverage bottles after reports that defective stoppers can forcefully eject. The problem has led to serious injuries, including permanent vision loss for at least three people. The affected products were made before July 2023. Consumers should stop using them and contact Thermos for replacements.
Cognizant has earmarked up to $270 million for employee-related expenses as part of Project Leap, a global reorganisation aimed at building an AI-driven operating model. The overall plan is estimated at $230 million to $320 million and follows earlier cost-cutting moves. Cognizant says it will shift service delivery toward automation and efficiency while hiring more early-career talent.
Pop star Britney Spears has been charged with a misdemeanor DUI in California after being pulled over for erratic driving. Reports say the situation involved no crash or injuries. Spears has since entered a substance abuse program, and prosecutors could consider a “wet reckless” plea deal—potentially changing how the case is resolved.
In IPL 2026’s GT vs RCB match, Virat Kohli was seen visibly angry after Rajat Patidar was given out on what appeared to be a controversial call. Footage showed Kohli having an animated argument with the umpire near the boundary ropes, while RCB reportedly moved to address the issue. The incident has reignited debate around decision accuracy.
US inflation rose sharply in March, with higher gasoline prices linked to the Iran conflict pushing the PCE index to its biggest monthly gain in nearly two years. Core inflation stayed firm, reinforcing expectations that the Fed may keep rates higher for longer. Meanwhile, real consumer spending growth showed early signs of slowing.
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