Stories from earlier this week and beyond.
Bank credit growth slowed to 15% in the fortnight ending April 15, after banks accelerated lending ahead of the financial year end. Even with this dip, credit growth has stayed in double digits for more than seven months, pointing to continued revival in loan demand from both individuals and businesses.
A compound wall collapsed in central Bengaluru near Bowring and Lady Curzon Hospital on Wednesday, killing at least seven people, including three children. Police said victims were crushed while they were present nearby. A large-scale rescue operation was launched at the spot, and the chief minister visited the area as investigations begin into what caused the wall to fail.
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Jaguar Land Rover India has been ordered by Uttarakhand’s Consumer Disputes Redressal Commission to refund Rs 1.65 crore to a buyer in Roorkee. The panel found manufacturing defects, unauthorized structural changes, and performance that didn’t match advertised claims—calling it deceptive and unfair trade practice. The company must refund and return the vehicle.
Roku’s low-cost streaming service, Howdy, has reportedly surpassed 1 million subscribers after launching at $2.99. The milestone signals a strong appetite for cheaper, low-commitment streaming options as viewers weigh pricier services. With affordability as the headline feature, Howdy’s growth suggests the next battleground in streaming could be value-first competitors.
Blinkit has reported its second consecutive quarter of positive adjusted EBITDA, signaling improving profitability even as growth moderation sets in. ETtech unpacks what this shift from pure expansion toward efficiency could mean for rivals, including tougher pricing pressure, tighter unit-economics focus, and a possible scramble to secure the most profitable customer and delivery zones.
The Federal Reserve is set to announce its latest interest rate decision, with most economists expecting rates to stay within 3.5% to 3.75%. The hold comes as inflation pressures persist, worsened by the ongoing Iran war. Meanwhile, the labor market is sending mixed signals, and the decision also marks Jerome Powell’s final meeting as Fed chair.
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Pakistan says it carried out targeted strikes on Afghan Taliban positions and also hit local Pakistani Taliban hideouts after an incident in which a mortar shell from Afghanistan killed a civilian. Afghanistan alleged cross-border attacks, but Pakistan denies the claim, framing the operation as a response to provocations and escalating tensions along the border.
Mining giant Vedanta plans to file next week for listing approval of its demerged entities. The new, separate companies are expected to begin trading by mid June, creating five independent sector focused businesses. Each entity will chart its own growth strategy and target investors tailored to its sector, reshaping how the group’s value is unlocked.
Big Four firm KPMG is pulling out of US federal government audit work, moving more than 450 staff into new roles. The decision follows KPMG losing a major Pentagon contract. The firm had audited the US Army for nearly a decade. KPMG’s exit comes as the US Defense Department changes how it approaches audits.
The FBI has extradited alleged Chinese hacker Xu Zewei from Italy to the United States, describing it as a rare, high-stakes operation. FBI Director Kash Patel says his own trip to Italy was crucial and that prosecutors will seek action over alleged cyberattacks targeting US COVID-19 research. Patel also claims Xu has direct ties to China’s Ministry of State Security.
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YottaData Services and Gorilla Technology Group are expanding their AI infrastructure partnership with a deal valued at about $2.8 billion. The plan calls for deploying an additional 20,736 GPU cards in India, with rollout targeted to complete by September 30, 2026. The expansion is expected to meaningfully lift the nation’s AI compute capacity.
Uber used its annual event to preview new features that move far beyond ride-hailing and into deeper travel and lifestyle territory. The company says AI is playing a key role, including new ways to help users plan and book parts of their trips—now extending into hotel business for the first time in a more direct way.
Sweden’s government plans new legislation to force social media platforms like TikTok and Snapchat to remove criminal gangs’ “murder adverts” within one hour. If companies fail to comply, they could face hefty fines. The move targets rapidly spreading promotional posts tied to organized crime and tests how quickly platforms can act on content alerts.
A Finmin report warns that the West Asia conflict could trigger supply shocks, raising inflation and disrupting trade flows. Still, it expects resilience from strong domestic demand and targeted policy measures to manage costs in key sectors. With trade aided by new schemes and agreements, India is projected to maintain robust growth while leveraging global shifts.
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Three-time Olympian Vinesh Phogat is set to return to competitive wrestling after switching to the 57kg category. She is preparing for the National Open Ranking Tournament 2026 in Gonda, Uttar Pradesh, from May 10 to 12. The event will be a key step in her comeback and could influence her rankings and future selection chances.
Oil prices surged on April 29 as Brent cracked above $114 and WTI topped $103, driven by escalating disruption near the Strait of Hormuz. Reports of stalled U.S. Iran negotiations and an extended U.S. naval blockade are shifting trader focus from short-term supply shocks to a longer squeeze on Iranian exports, with knock-on implications for gasoline, inflation expectations, and today’s Fed rate outlook.
The Israeli military says it killed three Hezbollah fighters in southern Lebanon and struck infrastructure north of the “Yellow Line” as operations broaden. It also reported one soldier was lightly wounded and evacuated. Israel says its actions aim to dismantle Hezbollah’s operational sites and neutralize threats in the region.
The US goods trade deficit widened 5.3% to $87.9 billion in March, according to the Commerce Department’s Census Bureau. Economists had forecast a smaller gap of $86.95 billion. February’s deficit was $83.5 billion, highlighting how sharply higher imports are driving the widening imbalance in trade.
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West Bengal’s final phase of assembly election polling wrapped up at 6 PM on Wednesday, with voter turnout reaching 91.41%. By 5 PM, Purba Bardhaman led the pack at 92.46%, followed by Hooghly (90.34%), Nadia (90.28%), Howrah (89.44%) and North 24 Parganas, while South 24 Parganas hovered just below 90%.
Uber has launched an in-app “Hotels” tab in partnership with Expedia Group, letting riders browse and book stays directly from the Uber home screen. Users can filter by price, ratings, and amenities, then complete bookings using their existing Uber wallet. The move aims to deepen engagement and create fresh revenue as Uber expands beyond rides into broader travel services.
Data-storage stocks jumped after Seagate Technology delivered a bullish revenue and profit forecast, reinforcing expectations that enterprises will keep spending on AI-related equipment. With more firms investing in data drives and storage infrastructure, the sector’s demand outlook looks supported beyond near-term upgrades, boosting investor confidence across storage plays.
NVIDIA has unveiled Nemotron-3 Nano Omni, a unified multimodal AI designed to connect sight, sound, and language within a single system. The company says it enables faster, more intuitive interactions and a more human-like grasp of real-world context in real time, signaling a shift from separate capabilities to integrated understanding.
WhatsApp will stop working on Android devices running versions older than Android 6.0 starting September 8, 2026. Phones on Android 5.0 and 5.1 will lose access to the app entirely as Meta tightens security, boosts performance, and ensures compatibility with newer features. Users are urged to update their software or switch to a newer phone before the deadline.
Mindspace Business Parks REIT logged over 7.1 million sq ft of leasing in 2025-26, with the March quarter delivering strong income growth. Occupancy rose to 95.7% on firm demand, including from global companies. The REIT also reported a record Rs 6.64 per unit distribution and is expanding its Chennai portfolio to strengthen its position.
During the second phase of West Bengal assembly elections, an elderly voter in Howrah district died, triggering sharp accusations from TMC leader Abhishek Banerjee. He claimed central forces pushed and assaulted the man, collapsing afterward, and alleged the forces are acting as BJP’s private army. Banerjee warned of consequences for those involved in the alleged excesses.
Mumbai Indians players will wear black armbands during their IPL 2026 match against Sunrisers Hyderabad at Wankhede Stadium. The gesture comes after the untimely demise of a support staff member’s daughter. The franchise confirmed the tribute for the match, marking a solemn moment alongside the high-stakes contest at the venue.
Robinhood’s HOOD stock fell about 13% after the company reported first-quarter results that missed analyst expectations on both earnings and revenue. The sharpest worry came from crypto, where revenue reportedly plunged by 47%, dragging overall performance. Investors are now questioning near-term growth and how Robinhood’s push into new services will hold up amid weaker activity.
Facebook and Instagram have been charged by the EU after a two-year European Commission probe under the Digital Services Act. Regulators allege Meta did not do enough to prevent children under 13 from accessing the platforms. The findings mark a new push for stricter enforcement of online safety duties tied to harmful and illegal content rules.
Central Armed Police Forces will continue operating in West Bengal after polling ends, with around 700 companies remaining to help maintain peace and prevent untoward incidents. The extended presence is intended to ensure normalcy and support state administration, while any further change in deployment duration will depend on ground assessments.
Dhan has rolled out “Gold Vault,” a Sebi-regulated offering that lets retail investors buy physical gold and silver using live commodity exchange pricing, complete with home delivery. The system is designed to reduce risk by routing transactions through MCX futures settlement and MCXCCL clearing, signaling a new step in how digital gold products are delivered and secured.
SpaceX’s upcoming IPO filing indicates Elon Musk retains ultimate control, with only his own consent able to remove him from CEO and chairman roles. That power is linked to his super-voting shares, leaving outside investors with limited influence over board decisions. The structure is uncommon for tech IPOs and could reshape how governance works at SpaceX.
The Reserve Bank of India has issued final directions for small NBFCs, turning down multiple requests from the industry. Key changes include treating equity investments in group entities as indirect public funds, classifying promoter and related-party borrowings as public funds, and viewing intra-group loans as customer interface. The RBI said these steps tighten compliance under existing norms.
Robinhood shares dropped after a crypto slump dented trading volume growth. Crypto has faced heavy pressure this year as investors move into a risk-off mood, triggering broad selling across digital assets. With bitcoin down more than 30% in the past six months, retail interest has cooled, curbing activity on trading platforms like Robinhood.
Ukraine says it has stepped up attacks inside Russia, targeting oil refineries, depots and ports that it says fund Moscow’s war. The reported strike reaches about 1,500 km into Russian territory, as global fuel prices rise amid tensions involving Iran. Kyiv’s goal: disrupt Russia’s biggest revenue stream and strain its ability to sustain the conflict.
The Hong Kong–Zhuhai–Macau Bridge, stretching 34 miles and costing £15 billion, is transforming connectivity across China’s Greater Bay Area. By cutting travel times between major cities, it’s boosting trade, regional cooperation and economic growth. Built through complex design and international collaboration, the project shows how modern engineering can redraw geography and make distance feel smaller.
An elderly voter died at a polling booth in West Bengal during the second phase of elections, after attempting to enter the booth with his son’s help. He collapsed and was rushed to Amta Hospital, where he was declared dead on arrival. The TMC alleged he was manhandled by central forces, escalating scrutiny around the incident.
Scientists studying the Ilovik-Parzine 1 Roman shipwreck off Croatia say coatings and trapped pollen can reconstruct its voyage. The evidence suggests the ship was built in Italy, crossed the Adriatic, and received repairs at multiple stops along ancient trade routes. The findings also shed light on Roman waterproofing methods, offering a sharper way to trace maritime history.
Families of nine victims from the Tumbler Ridge attack in British Columbia have filed a lawsuit in the US against OpenAI and CEO Sam Altman. The plaintiffs allege the company knew about the shooter’s violent plans eight months before the killing and failed to alert police, arguing the inaction prioritized business interests over public safety.
Kerala’s 2026 assembly exit polls point to a likely direction for the next government, with turnout staying high and women voters showing major participation. Campaigns across parties increasingly centered on women-focused promises, raising the stakes ahead of counting on May 4. The result will follow the LDF’s 2021 win that kept Pinarayi Vijayan in power.
In 1965, a massive blackout triggered darkness across the Northeast US and Canada, beginning in Ontario. Transportation and communications stalled, exposing grid weaknesses and missing containment measures. The fallout drove sweeping reforms in power management, utility coordination, and emergency planning—while highlighting how dependent modern life is on infrastructure most people never see.
Karnataka Congress is embroiled in a leadership tussle, with Deputy CM DK Shivakumar reportedly eyeing the top post while Siddaramaiah’s supporters lobby for him to stay. Home Minister G Parameshwara said Mallikarjun Kharge’s return as chief minister would be welcomed. Meanwhile, some Dalit ministers have pushed for a Dalit CM if a change is made, deepening divisions.
Altamira’s detailed cave paintings in Spain were once branded a hoax because scientists doubted early humans had the skill to create such art. Later research uncovered sophisticated techniques, and additional authenticated findings strengthened the case. Today, Altamira stands as a landmark proof of early human artistic expression, forcing a major shift in what researchers believed about intelligence and creativity.
Indian Bank reported a 5% year-on-year rise in Q4 net profit to Rs 2,956 crore as operating profit improved and both gross and net non-performing assets fell sharply. While the lender expects steady advances growth in the current fiscal year, it flagged potential challenges for treasury operations linked to global events. Deposits also grew strongly.
A new study finds that cats allowed to roam outdoors face a higher risk of injury and early death. Researchers point to threats like traffic, fights, and poisoning, which can quickly cut lifespans short. Instead, experts recommend safer, contained setups—secure yards or enriched indoor life—to help cats stay healthier and live longer.
Tamil Nadu’s 2026 Assembly elections have concluded across all 234 constituencies with a high 84.29% turnout. The exit poll projections are expected to land by 6:30 PM, with 118 seats needed for a majority. Exit polls ask voters right after they vote, using their responses and voting trends to forecast who leads in the DMK vs AIADMK contest.
SoFi Technologies shares fell about 9% after a strong Q1 2026 performance, including a $1.1 billion revenue beat. Revenue rose 43%, net income jumped 134%, and members reached 14.7 million. But investors focused on softer forward guidance: the full-year outlook missed expectations and Q2 growth suggested a slowdown toward 30%.
Zelenskyy said Ukraine will continue extending the range of strikes inside Russia, stepping up attacks in recent weeks. The goal is to hit oil refineries, depots and ports, targeting Moscow’s largest funding source for the war. Officials argue global energy price pressures, intensified by the Iran war, make these targets even more strategic.
Uber is partnering with Expedia to add in-app hotel bookings, turning the ride hailing app into a broader travel hub. Uber One members will receive hotel discounts and credits, alongside new tools like unified search and AI voice booking. Uber says vacation rentals will follow later this year, while international Uber One benefits begin in June.
SpaceX has filed confidentially with the SEC, signaling a fast path to what could be the biggest IPO in stock market history. The company is aiming for a $1.75 trillion to $2 trillion valuation and plans to raise $75 billion in fresh capital. The roadshow begins June 8, led by major banks including Morgan Stanley and Goldman Sachs.
Apple has lost a request to pause court-ordered App Store payment changes, meaning the order stays in effect while its dispute with Epic Games moves toward the Supreme Court. The ruling keeps external purchase links available, a major pressure point for Apple’s commission model. The next phase could determine whether those changes become permanent.
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