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IT stocks tumble as OpenAI bets big on AI adoption upending software business models

IT stocks tumble as OpenAI bets big on AI adoption upending software business models

Indian IT shares fell sharply on Tuesday, dragging the Nifty IT index down 3.7% to a three-year low. The selloff followed reports of OpenAI making a major push to speed AI adoption, fueling fears that the move could disrupt traditional software services business models and margins for established players.

Summarised by Beize from a story on The Economic Times on 13 May 2026
India share of global market cap slips below 3% as foreign money pulls out

India share of global market cap slips below 3% as foreign money pulls out

India’s share of global market capitalization has fallen under 3%, pressured by a prolonged bearish run and heavy foreign portfolio investor outflows. Even with the slide, the country remains fifth globally with a market cap of about $4.9 trillion. However, Taiwan and South Korea are closing the gap quickly, signaling faster shifts in global investor preference.

Summarised by Beize from a story on The Economic Times on 13 May 2026

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Jason Collins dies at 47 after glioblastoma battle leaving a lasting legacy in NBA inclusion

Jason Collins dies at 47 after glioblastoma battle leaving a lasting legacy in NBA inclusion

Former NBA center Jason Collins has died at 47 after a battle with glioblastoma, his family confirmed. Collins made history in 2013 as the first openly gay player in the league, using his platform to push for inclusion. Tributes highlighted his courage and advocacy, while his family thanked fans and supporters for their help during treatment.

Summarised by Beize from a story on The Economic Times on 13 May 2026
Trump Says US Will Win Iran War Peacefully or Otherwise as Blockade Claims Hit 100 Percent

Trump Says US Will Win Iran War Peacefully or Otherwise as Blockade Claims Hit 100 Percent

Ahead of travel to China, President Donald Trump claimed Iran’s military has been decimated and insisted the US will win a potential war “peacefully or otherwise.” He said the US blockade is “100% effective,” as tensions rise around the Strait of Hormuz. Trump also criticized NATO, escalating rhetoric at a sensitive moment in regional security.

Summarised by Beize from a story on Republic on 13 May 2026
Inflation may choke discretionary spending as electronics feel the sharpest heat

Inflation may choke discretionary spending as electronics feel the sharpest heat

After four months of improving consumer demand, executives warn that rising crude oil prices, supply disruptions, and Prime Minister Narendra Modi’s push for austerity could derail the recovery. They expect the impact to be most severe in electronics, where higher costs and weaker discretionary budgets may quickly slow buying.

Summarised by Beize from a story on The Economic Times on 13 May 2026
Lindsey Graham blasts Pakistan for shielding Iranian jets amid Iran war costs rising to 29 billion

Lindsey Graham blasts Pakistan for shielding Iranian jets amid Iran war costs rising to 29 billion

US Senator Lindsey Graham sharply attacked Pakistan’s role as a broker between the US and Iran, amid reports that Islamabad may have allowed Iranian military aircraft to use its airbases. The remarks come as the Pentagon said the Iran war has already cost about $29 billion, raising fresh questions over regional loyalties and intelligence cooperation.

Summarised by Beize from a story on Republic on 13 May 2026

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CBI takes over NEET 2026 leak probe as 150 candidates questioned across three states

CBI takes over NEET 2026 leak probe as 150 candidates questioned across three states

The CBI has taken charge of the NEET 2026 paper leak investigation after days of state-level probe activity. More than 150 candidates, along with friends and parents, have already been questioned. Authorities suspect a Rajasthan-Haryana-Maharashtra network involved in distributing alleged leaked questions, prompting the case handover for deeper scrutiny.

Summarised by Beize from a story on Republic on 13 May 2026
Trump demands Barack Obama arrest on Truth Social alleging treason and election meddling

Trump demands Barack Obama arrest on Truth Social alleging treason and election meddling

Donald Trump called for Barack Obama’s arrest on Truth Social, accusing him of treason and reviving claims that the Obama administration spied on Trump’s 2016 campaign. In the same burst, Trump attacked media coverage and revisited disputed claims about the 2020 election, while also sharing military imagery tied to Iran.

Summarised by Beize from a story on The Economic Times on 13 May 2026
Weinstein third trial nears verdict as jury hears clashing stories from Jessica Mann

Weinstein third trial nears verdict as jury hears clashing stories from Jessica Mann

Harvey Weinstein’s third trial over allegations of rape involving actor and hairstylist Jessica Mann entered closing arguments in New York. The defense portrayed Mann as unreliable and questioned the credibility of her account, while prosecutors argued she was manipulated. Both sides laid out sharply different versions of a relationship that began in 2013, setting up a high-stakes jury decision.

Summarised by Beize from a story on Republic on 12 May 2026
Flexi cap logs record April inflows as other equity categories stay selective

Flexi cap logs record April inflows as other equity categories stay selective

Equity mutual fund inflows dipped 5% to Rs 38,440 crore in April, but buying remained broad across categories. Flexi cap funds posted their highest-ever monthly inflow, while smallcap and midcap also attracted strong money. Sectoral and thematic funds, however, saw moderation as investors grew more selective amid market volatility.

Summarised by Beize from a story on The Economic Times on 12 May 2026

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Memphis Grizzlies Brandon Clarke dies at 29 as authorities probe possible overdose and scene evidence

Memphis Grizzlies Brandon Clarke dies at 29 as authorities probe possible overdose and scene evidence

Memphis Grizzlies forward Brandon Clarke, 29, died in Los Angeles after authorities responded to an emergency call. Investigators are reportedly looking into a possible overdose, with drug paraphernalia allegedly found at the scene. Clarke’s agency and the Grizzlies organization shared messages of grief, while the exact cause of death remains under review.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Tech Mahindra and Vedanta swing as markets tumble for fourth straight session

Tech Mahindra and Vedanta swing as markets tumble for fourth straight session

Indian markets slid for a fourth straight session as pressure weighed on realty and jewellery stocks. Despite the broader weakness, ONGC and Vedanta advanced after government royalty cuts improved sentiment. Tech Mahindra also stood out among the day’s biggest movers, underscoring how policy-driven cues can spark sharp stock swings even amid continuing selloffs.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Scientists claim grip strength and chair rises can predict lifespan with surprising accuracy

Scientists claim grip strength and chair rises can predict lifespan with surprising accuracy

A new study suggests that older women’s muscle strength—measured by grip strength and how easily they can stand from a chair—can strongly predict longevity. Researchers found lower mortality risk among participants with greater strength, even after accounting for physical activity and other health factors. The findings point to practical, at-home screening that may help flag risk earlier than traditional measures.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Nahid Rana destroys Pakistan with 5 for 40 as Bangladesh wins first Test by 104 runs

Nahid Rana destroys Pakistan with 5 for 40 as Bangladesh wins first Test by 104 runs

Nahid Rana’s career-best 5-40 spearheaded Bangladesh’s 104-run victory over Pakistan in the first Test. Pakistan, chasing 268, were bowled out for 163, with Rana’s breakthrough spell after tea proving decisive. Bangladesh set the target by declaring their second innings at 240-9, then tightened the screws to secure a commanding win.

Summarised by Beize from a story on The Economic Times on 12 May 2026

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NEET UG 2026 leak fears rise as key NTA reforms from 2024 still unimplemented

NEET UG 2026 leak fears rise as key NTA reforms from 2024 still unimplemented

Alleged paper leak concerns are back for NEET-UG 2026, with the NTA under renewed scrutiny. The K Radhakrishnan Committee, formed after the 2024 NEET-UG crisis, proposed major reforms to strengthen exam integrity, but key measures—especially functional CCTV surveillance—still appear incomplete. The delay in implementing recommendations is reigniting questions about the NTA’s preparedness.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Jordan Spieth chases career Grand Slam again at PGA aiming to end major drought

Jordan Spieth chases career Grand Slam again at PGA aiming to end major drought

Jordan Spieth tees up his 10th bid for the career Grand Slam at this week’s PGA Championship, determined to break a nine-year major win drought. After nine previous attempts without completing the Slam, his best finish at the PGA was a third-place showing in 2019. Now he’s back with another shot at golf’s rarest milestone.

Summarised by Beize from a story on The Economic Times on 12 May 2026
US stocks slip as hotter CPI and Iran tensions revive rate fears

US stocks slip as hotter CPI and Iran tensions revive rate fears

Wall Street edged lower as hotter than expected U.S. inflation and ongoing Middle East tensions weighed on investor sentiment. With CPI at a three-year high, traders are increasingly pricing in the Federal Reserve keeping rates steady for longer. While strong earnings offered some support, the inflation shock and geopolitical risk kept markets cautious.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Indian banks eye double digit corporate credit growth as infra and data centre demand surges

Indian banks eye double digit corporate credit growth as infra and data centre demand surges

Indian banks are gearing up for robust double digit corporate credit growth this fiscal year, driven by faster demand from infrastructure, renewable energy, manufacturing, and data centre projects. Lenders including SBI and Bank of Baroda report healthy loan pipelines, signaling an upbeat outlook for business lending. Yet, sustaining the momentum hinges on managing liquidity pressures.

Summarised by Beize from a story on The Economic Times on 12 May 2026

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Indians pause foreign holidays as fares surge and rupee weakens airlines see booking slips

Indians pause foreign holidays as fares surge and rupee weakens airlines see booking slips

Airlines report weak forward bookings and cautious growth plans as Indians reconsider overseas travel amid high airfares and a weaker rupee. The shift follows calls to postpone foreign holidays, yet large-scale cancellations have not hit operations hard. Instead, carriers and tourism stakeholders are redirecting attention toward boosting domestic travel, banking on its wider economic ripple effects.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Vodafone Idea to consider fresh funding as board meets May 16 for equity warrants

Vodafone Idea to consider fresh funding as board meets May 16 for equity warrants

Vodafone Idea’s board will meet on May 16 to discuss a fundraising plan that could bring in fresh capital via equity and warrants. The debt-heavy telecom operator is seeking stronger financial footing to fund network upgrades and stay competitive. The decision could signal a critical next step for its turnaround and ability to meet operational and repayment pressures.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Guardiola dismisses pressure as Man City must beat Crystal Palace to stay alive

Guardiola dismisses pressure as Man City must beat Crystal Palace to stay alive

Pep Guardiola says Manchester City feel no added pressure despite a must-win clash with Crystal Palace. With City five points behind Premier League leaders Arsenal and only three games left, dropping points could let Mikel Arteta’s side clinch the title. Guardiola insists the team’s mindset remains steady as the season nears its decisive stretch.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Electric bike makers warn of price hikes as raw materials and supply chains tighten

Electric bike makers warn of price hikes as raw materials and supply chains tighten

Electric two-wheeler companies are moving toward higher prices as costs rise and supplies get disrupted. Firms including Bajaj Auto, Hero MotoCorp and Ather Energy cite expensive raw materials and lingering supply chain constraints. The surprise pressure comes from demand for AI infrastructure, which is affecting availability of certain critical components for EV production, likely hitting consumers soon.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Trump says Cuba wants US help and hints talks with Havana amid escalating sanctions

Trump says Cuba wants US help and hints talks with Havana amid escalating sanctions

US President Donald Trump said Cuba is seeking assistance from the United States and that discussions with Havana will follow. The remarks come after Trump previously warned Cuba was next, referencing US actions after Venezuela. His administration has imposed financial sanctions, travel restrictions, and a fuel blockade, while both US and Cuban officials were unavailable for comment.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Rani Kapur rushes to Supreme Court to stop Priya Kapur grabbing control of family trust

Rani Kapur rushes to Supreme Court to stop Priya Kapur grabbing control of family trust

Rani Kapur has moved the Supreme Court seeking to bar Priya Kapur from handling affairs of the RK Family Trust and five related businesses. The plea lands as the court prepares a mediation process, with Rani alleging Priya is pursuing an unlawful takeover of family resources. The dispute could hinge on who controls the trust during talks.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Canara Bank bets on core income after treasury losses cut profit by 10 percent

Canara Bank bets on core income after treasury losses cut profit by 10 percent

Canara Bank reported a 10% dip in net profit last quarter, driven mainly by treasury losses. The lender says it will lean on core income to protect net interest margins while funding stays healthy. Management expects advances to grow 11-12% and deposits 9-10% this year, with asset quality holding up through a low slippage ratio.

Summarised by Beize from a story on The Economic Times on 12 May 2026
US stocks end lower as hotter inflation and Iran tensions rattle markets

US stocks end lower as hotter inflation and Iran tensions rattle markets

US stocks finished lower as hotter-than-expected inflation and escalating US-Iran tensions hit investor sentiment. The S&P 500 and Nasdaq slipped from record levels, led by weakness in tech, while the Dow was comparatively steady. Rising oil prices and expectations that inflation may stay higher further dented hopes for Federal Reserve rate cuts and boosted bets on additional rate hikes.

Summarised by Beize from a story on The Economic Times on 12 May 2026
India brides snap up gold jewellery early as buyers fear import duties and GST hikes

India brides snap up gold jewellery early as buyers fear import duties and GST hikes

Across India, bridal jewellery counters are seeing a sharp surge as customers rush to finalize purchases earlier than planned. Jewellers link the spike to growing uncertainty after austerity messaging from PM Narendra Modi and fears that import duties or GST on gold could rise. For many shoppers, gold’s cultural weight and potential price jumps outweigh waiting.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Nasdaq slides over 2% as April CPI shows inflation is back and markets panic again

Nasdaq slides over 2% as April CPI shows inflation is back and markets panic again

The Nasdaq 100 tumbled more than 2% in Tuesday trading, extending its sharpest sell-off in weeks as April CPI confirmed inflation is no longer cooling. The rise pushed CPI to its highest level since May 2023, rattling investors and weighing on the Dow and S&P 500. Traders now face growing uncertainty over rates and market direction.

Summarised by Beize from a story on The Economic Times on 12 May 2026
India launches 1.5 billion Bharat maritime insurance pool with first covers issued

India launches 1.5 billion Bharat maritime insurance pool with first covers issued

India has launched the Bharat Maritime Insurance Pool, a 1.5 billion initiative designed to strengthen domestic maritime trade by cutting reliance on foreign insurers. The pool comes with a sovereign guarantee meant to keep insurance coverage continuous for vessels. First insurance covers have already been issued to key entities, signaling immediate support for India’s expanding maritime sector.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Retail inflation hits 3.5 percent four month high as food and gold prices climb fast

Retail inflation hits 3.5 percent four month high as food and gold prices climb fast

Retail inflation rose to a four-month high of 3.5% in April, driven mainly by higher food prices and a rebound in gold and silver. Economists warn more inflation pressure could follow, even as expectations grow that the Reserve Bank of India will keep its policy rate unchanged. With inflation nearing the RBI’s target, rate hikes may take a breather for now.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Air India did not cancel all flights till July 2026 viral claim debunked

Air India did not cancel all flights till July 2026 viral claim debunked

A viral post claims Air India has cancelled all international flights until July 2026. But the airline has not grounded its global operations. Instead, it has temporarily reduced services on specific routes as costs rise and geopolitical tensions persist. Flights to key destinations are still operating, though some long-haul sectors are seeing lower frequency.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Hospitals warn CGHS reimbursement cap could cut off lifesaving immunotherapy for cancer patients

Hospitals warn CGHS reimbursement cap could cut off lifesaving immunotherapy for cancer patients

A major private hospital group has warned that a reimbursement cap under the Central Government Health Scheme is straining finances for hospitals treating advanced cancer. The cap on life-saving immunotherapy drugs is pushing essential medicines beyond affordability for many CGHS beneficiaries, according to the association, which says nine specific drugs are now out of reach and may limit access to treatment.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Can Xi deliver Trump a win in China before West Asia tensions worsen for him

Can Xi deliver Trump a win in China before West Asia tensions worsen for him

Donald Trump is heading to China aiming for a tangible win ahead of the midterms, even as West Asia remains a volatile backdrop. The talks are expected to focus on rare earth supply and tech goods, but any progress will depend on both sides balancing economic demands with domestic political needs, limiting the odds of sweeping breakthroughs.

Summarised by Beize from a story on The Economic Times on 12 May 2026
TVK MLA takes Supreme Court challenge after Madras HC bars his assembly vote

TVK MLA takes Supreme Court challenge after Madras HC bars his assembly vote

TVK MLA R Seenivasa Sethupathi has approached the Supreme Court after a Madras High Court decision restricted his voting rights in the Tamil Nadu Assembly. The move threatens the ruling alliance’s ability to maintain its majority, raising fresh stakes for coalition power amid election-season scrutiny and legal uncertainty over assembly voting privileges.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Tamil Nadu cabinet where 50 percent ministers face criminal cases and one fifth are crorepatis

Tamil Nadu cabinet where 50 percent ministers face criminal cases and one fifth are crorepatis

An analysis of Tamil Nadu’s recently appointed ministers finds that 50% have criminal cases, while 30% face serious allegations. About 20% of the ministers are crorepatis, with the Chief Minister listed as the wealthiest. The cabinet’s average assets reportedly add up to a striking Rs 126 crore, raising fresh questions on who’s in charge.

Summarised by Beize from a story on The Economic Times on 12 May 2026
AIADMK rebels back Vijay ahead of Tamil Nadu floor test amid party split

AIADMK rebels back Vijay ahead of Tamil Nadu floor test amid party split

Ahead of Tamil Nadu’s floor test, a faction of AIADMK has decided to ally with Chief Minister C Joseph Vijay’s TVK. The move follows poor showings in recent elections and deepening internal dissent, with critics alleging AIADMK leaders have been working toward ties with the DMK. The split could reshape the political math for the government’s challenge.

Summarised by Beize from a story on The Economic Times on 12 May 2026
RSS leader Hosabale says Sanatan cannot be wished away in Udhayanidhi spat

RSS leader Hosabale says Sanatan cannot be wished away in Udhayanidhi spat

RSS leader Dattatreya Hosabale hit back at DMK leader Udhayanidhi Stalin’s call to eradicate Sanatan Dharma, saying it will not disappear. He compared Sanatan to an eternal banyan tree that cannot be wished away, arguing it reflects India’s spirit and worldview rather than just a religious practice. Hosabale also claimed Sanatan can stay fresh while embracing modernity.

Summarised by Beize from a story on The Economic Times on 12 May 2026
US Treasury yields hit 5 as oil shocks inflation fears and investors dump bonds

US Treasury yields hit 5 as oil shocks inflation fears and investors dump bonds

Global bond markets are rattled as US Treasury yields surge to around 5% amid rising oil prices and persistent inflation concerns. Those pressures are shifting expectations for US interest rates, making investors reconsider the odds of Federal Reserve rate cuts. UK bond markets are also under strain, reflecting broader unease across major economies.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Farooq Abdullah rejects alcohol ban in J and K citing major revenue losses and practical concerns

Farooq Abdullah rejects alcohol ban in J and K citing major revenue losses and practical concerns

Farooq Abdullah has opposed an alcohol ban in Jammu and Kashmir, arguing that such a move could sharply reduce government revenue and create practical challenges. The debate in the region continues to pit public welfare claims against concerns about economic impact, with supporters and critics weighing whether prohibition is the right approach or if regulation would be a better path.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Mitsui OSK Lines turns to India for shipbuilding and logistics terminals to boost car shipments

Mitsui OSK Lines turns to India for shipbuilding and logistics terminals to boost car shipments

Japan’s Mitsui OSK Lines is looking to build ships in India and expand into roll-on roll-off terminals, aiming to strengthen inland logistics. The move is designed to reinforce MOL’s position in shipping automobiles from India, with the country identified as a priority region for growth. The company is also weighing broader investments that could reshape its regional transport network.

Summarised by Beize from a story on The Economic Times on 12 May 2026
India warns China faces reputational fallout over Pakistan military links and terrorist support

India warns China faces reputational fallout over Pakistan military links and terrorist support

India has warned that countries supporting terrorist-linked alliances can suffer reputational damage on the world stage. The message intensified after reports surfaced that Chinese engineers have been involved in Pakistan’s military aircraft initiatives under Operation Sindoor. The Ministry of External Affairs said such partnerships can erode trust and prestige internationally, raising fresh diplomatic pressure.

Summarised by Beize from a story on The Economic Times on 12 May 2026
US bank admits data leak after sharing customer details with an AI app

US bank admits data leak after sharing customer details with an AI app

Community Bank disclosed a cybersecurity incident after customer information was shared with an AI app. The exposed data included customers’ names, dates of birth, and Social Security numbers. The bank, serving Pennsylvania, Ohio, and West Virginia, says it discovered and reported the issue as it investigates potential impact and works to secure systems going forward.

Summarised by Beize from a story on TechCrunch on 12 May 2026
India rolls out four labour codes and drafts an employment blueprint to shape jobs ahead

India rolls out four labour codes and drafts an employment blueprint to shape jobs ahead

The central government says it has fully operationalised four new labour codes, merging 29 laws into a simpler framework that balances worker protections with business needs. Officials believe the move will improve coordination between labour and industry. Now, the ministry plans a comprehensive employment policy to steer future job creation and workplace regulation.

Summarised by Beize from a story on The Economic Times on 12 May 2026
CEA Nageswaran flags West Asia crisis as stress test for India current account and currency stability

CEA Nageswaran flags West Asia crisis as stress test for India current account and currency stability

CEA Nageswaran says the West Asia crisis should be treated as a balance of payments stress test for India. He links FY27 priorities to keeping the current account healthy, securing financing, and curbing currency depreciation—because pressures from external shocks can quickly feed into CAD, inflation and exchange rates. A separate push to settle payments to micro and small firms also supports working capital.

Summarised by Beize from a story on The Economic Times on 12 May 2026
NEET UG 2026 leak row puts NTA under fire over repeated glitches and mismanagement claims

NEET UG 2026 leak row puts NTA under fire over repeated glitches and mismanagement claims

The NEET UG 2026 has hit another controversy as allegations of examination paper leaks swirl around the National Testing Agency. The criticism echoes earlier troubles in 2024 and other 2026 failures, including power disruptions and incorrect answer keys. As scrutiny grows, students and stakeholders are demanding answers and stronger safeguards before results and admissions timelines are affected.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Gujarat Titans dominate Sunrisers by 82 runs and surge to IPL top spot

Gujarat Titans dominate Sunrisers by 82 runs and surge to IPL top spot

Gujarat Titans delivered a ruthless all-round show, beating Sunrisers Hyderabad by 82 runs to leap to the No. 1 spot in the IPL points table. Sai Sudharsan and Washington Sundar set a solid platform with half-centuries, then Kagiso Rabada and Jason Holder struck hard as the Titans’ bowlers restricted SRH to just 86 runs.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Kevin Hartz’s A* Capital closes Fund III with 450 million betting on early-stage startups

Kevin Hartz’s A* Capital closes Fund III with 450 million betting on early-stage startups

Early-stage venture firm A* Capital, founded by Kevin Hartz, has closed its third fund, Fund III, with $450 million. The milestone underscores renewed appetite for early bets, as the firm prepares to deploy capital into new startups and follow-on opportunities. With a sizable third vehicle now in hand, A* signals ambition to scale its deal pipeline and track record.

Summarised by Beize from a story on TechCrunch on 12 May 2026
Parents sue OpenAI alleging ChatGPT advice led to a fatal overdose death in California

Parents sue OpenAI alleging ChatGPT advice led to a fatal overdose death in California

Parents in California have filed a lawsuit against OpenAI and CEO Sam Altman, alleging ChatGPT gave advice that contributed to their son’s accidental fatal overdose. The complaint claims the bot encouraged combining dangerous substances. It also notes the incident occurred before OpenAI launched a new health advice platform. OpenAI says it is strengthening safety measures.

Summarised by Beize from a story on The Economic Times on 12 May 2026
India readies AMCA stealth fighter RFP next month for three private consortia bids

India readies AMCA stealth fighter RFP next month for three private consortia bids

India’s AMCA fifth-generation stealth fighter programme is moving into a pivotal stage, with the government expected to issue an RFP next month. The bid invitation will go to three shortlisted, private sector-led consortia, marking a notable shift toward involving industry more directly in advanced defence manufacturing and accelerating the programme’s path forward.

Summarised by Beize from a story on Republic on 12 May 2026
South Korea floats AI profit tax citizen dividend as markets wobble then rebound

South Korea floats AI profit tax citizen dividend as markets wobble then rebound

A top South Korean policymaker floated the idea of a citizen dividend funded by AI profit taxes, triggering sharp market volatility. Traders feared a fresh corporate levy on AI companies. The proposal was quickly clarified to target excess tax revenue rather than imposing a new charge, helping stocks recover partially. The episode highlights how AI-linked fiscal ideas can move markets fast.

Summarised by Beize from a story on The Economic Times on 12 May 2026
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