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Stories from earlier this week and beyond.

Rahul Gandhi rejects CBI director selection, alleges govt hid key candidate details in process

Rahul Gandhi rejects CBI director selection, alleges govt hid key candidate details in process

Rahul Gandhi has formally opposed the committee selection process for the next CBI director, alleging the government withheld crucial information about candidates. He dismissed the process as a “mere formality,” refused to participate in what he called a biased exercise, and warned that the opposition’s role is not a rubber stamp.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Mumbai court lets Jet Airways founder Naresh Goyal travel to London for four weeks medical care

Mumbai court lets Jet Airways founder Naresh Goyal travel to London for four weeks medical care

A Mumbai court has allowed Jet Airways founder Naresh Goyal to travel to London for four weeks to obtain medical consultations. He is facing money laundering charges and argued he needs expert treatment for serious ailments. The Enforcement Directorate opposed the move, citing flight risk, but the judge granted permission while imposing strict conditions.

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

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Indigo launches a social app that unifies Mastodon and Bluesky in one timeline

Indigo launches a social app that unifies Mastodon and Bluesky in one timeline

Indigo, a new social app, aims to bring the open social web into one place. It lets users cross-post to platforms like Mastodon and Bluesky while offering a unified timeline. Instead of juggling separate feeds and posting tools, Indigo centralizes discovery and publishing across multiple networks.

Summarised by Beize from a story on TechCrunch on 12 May 2026
Scientists uncover a 200 km buried river channel under Prayagraj Sangam

Scientists uncover a 200 km buried river channel under Prayagraj Sangam

For centuries, the Prayagraj Sangam has symbolized the meeting of the Ganga, Yamuna, and the unseen mythical Saraswati. Now, researchers say they detected a massive buried river channel stretching about 200 km beneath the site. The physical evidence suggests there may indeed be a third river system under the confluence, reshaping how the legend is understood.

Summarised by Beize from a story on Republic on 12 May 2026
China pushes WTO panel over India solar and IT support measures sparking fresh trade dispute

China pushes WTO panel over India solar and IT support measures sparking fresh trade dispute

China has asked the WTO to set up a dispute panel against India’s support measures for solar cells and modules, along with certain IT sector policies. The two countries’ bilateral talks failed to resolve the issue, with Beijing alleging the rules discriminate against Chinese goods. The move follows a similar WTO request made in January over India’s auto and battery incentives.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Senate confirms Kevin Warsh as Fed governor with sweeping plans for Treasury ties

Senate confirms Kevin Warsh as Fed governor with sweeping plans for Treasury ties

The US Senate has confirmed Kevin Warsh as a Federal Reserve governor, setting up a crucial period for the central bank amid political pressure. Warsh is now preparing to shape the Fed’s priorities and has signaled interest in reshaping how the Fed coordinates with the US Treasury. A Fed chair vote is expected on Wednesday.

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

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Bomb scare in Bengaluru as timer and gelatin sticks found near PM convoy route

Bomb scare in Bengaluru as timer and gelatin sticks found near PM convoy route

Police in Bengaluru recovered gelatin sticks, a circuit board and a timer near Prime Minister Narendra Modi’s convoy route, triggering heightened security and a probe. A man who called police claiming he planted a bomb was arrested. Authorities suspect the explosives may not have been fully assembled, and the National Investigation Agency has taken an interest in the case.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Claude security failures are one architecture flaw across browser code and OT targets experts call confused deputy

Claude security failures are one architecture flaw across browser code and OT targets experts call confused deputy

Four research teams found the same “confused deputy” trust failure spanning Claude in Chrome, Claude Code, OAuth token theft, and even OT/SCADA targeting. In each case, Claude executes with real capabilities but can’t tell an authorized user from an adversary using the same interface. Researchers say isolated patches won’t fix the shared authorization gap—and even token rotation can fail.

Summarised by Beize from a story on Venture Beat on 12 May 2026
ED arrests two ex IDFC First Bank staff in massive Rs 645 crore embezzlement probe

ED arrests two ex IDFC First Bank staff in massive Rs 645 crore embezzlement probe

The Enforcement Directorate has arrested two former IDFC First Bank employees in connection with a money laundering investigation linked to a large-scale embezzlement case. Prosecutors allege the duo helped siphon around Rs 590 crore from Haryana government funds, using ghost companies to route and erase the money, with the total case value placed at about Rs 645 crore.

Summarised by Beize from a story on The Economic Times on 12 May 2026
U S bank admits data leak after customers information shared with unauthorized AI app

U S bank admits data leak after customers information shared with unauthorized AI app

A U S bank disclosed a security lapse after customer data was shared with an AI application the bank says was unauthorized. The incident raises fresh concerns about third-party tools, internal access controls, and how quickly financial institutions can prevent sensitive information from reaching unapproved software. Regulators and customers will want details on what data was exposed and for how long.

Summarised by Beize from a story on TechCrunch on 12 May 2026

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Manipur assures no fuel shortage as government warns against panic buying and black marketing

Manipur assures no fuel shortage as government warns against panic buying and black marketing

Manipur authorities have dismissed claims of shortages of LPG, petrol, and diesel, saying supply is adequate. The government is countering misinformation and urging residents not to panic buy or hoard. It also warned that black marketing and illegal sales will face strict action. Fuel pumps flouting directives may face legal consequences as enforcement ramps up.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Tata Power in talks with three states as nuclear project plan nears a six month report

Tata Power in talks with three states as nuclear project plan nears a six month report

Tata Power says it is in discussions with three states for its next nuclear energy projects. The company expects to publish a comprehensive project report within the next six months, signaling a faster path from planning to approvals. Tata Power is also partnering with NPCIL to develop and implement the nuclear initiatives.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Assam Readies Development Push Under Modi and Himanta Focus on Land Rights and Immigration

Assam Readies Development Push Under Modi and Himanta Focus on Land Rights and Immigration

Assam is signaling a new phase of development and prosperity under Prime Minister Narendra Modi and Chief Minister Himanta Biswa Sarma, Union Minister Sarbananda Sonowal said. He highlighted safeguarding native land rights and tackling immigration challenges as central priorities, framing the effort as a bid for harmony, stability, and long-term growth.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Threads tests Meta AI integration to add Grok like answers inside conversations

Threads tests Meta AI integration to add Grok like answers inside conversations

Threads is testing a new Meta AI integration meant to surface real time context on trends and breaking stories, while also offering personalized recommendations, all directly inside ongoing conversations. The goal is to make AI assistance feel embedded in the chat flow—closer to how Grok works—rather than pushing users to a separate tool or page.

Summarised by Beize from a story on TechCrunch on 12 May 2026

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US hits 13 linked to India online pharmacy over fentanyl trafficking visa restrictions

US hits 13 linked to India online pharmacy over fentanyl trafficking visa restrictions

The US has imposed visa restrictions on 13 individuals tied to an India-based online pharmacy, KS International Traders, and its owner, alleging they trafficked illicit fentanyl to Americans. The move follows earlier sanctions against the firm and associates for supplying counterfeit fentanyl-laced pills that authorities say fueled the US opioid crisis.

Summarised by Beize from a story on The Economic Times on 12 May 2026
India plans 500 trade delegations and training to supercharge FTA usage under Goyal

India plans 500 trade delegations and training to supercharge FTA usage under Goyal

India is ramping up efforts to make free trade agreements work better for exporters and investors. Under Piyush Goyal, the commerce ministry plans to dispatch 500 delegations abroad and train 1,000 people to strengthen industry outreach, including engagement with 1,600 industry chambers. The focus is increasing exports, attracting investment, and meeting export targets.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Malabar Gold pushes changes to Monetisation Scheme to bring idle gold back into circulation

Malabar Gold pushes changes to Monetisation Scheme to bring idle gold back into circulation

Malabar Gold & Diamonds has backed Prime Minister Narendra Modi’s push for responsible gold use, urging an overhaul of the Gold Monetisation Scheme. The jeweller wants higher public participation and more mobilisation of idle gold by integrating organized jewelers, lowering minimum deposit quantities, and introducing flexible redemption options to reduce import dependence and support India’s economy.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Uday Kotak warns of coming economic shock as energy prices surge after Iran war fears

Uday Kotak warns of coming economic shock as energy prices surge after Iran war fears

Business tycoon Uday Kotak says the biggest economic pain linked to the Iran war has not reached Indian households yet. He points to soaring energy prices as the trigger for a wider financial shock, warning that the impact could quickly flow into day to day costs for consumers. The note follows PM Modi’s austerity call, underlining heightened pressure ahead.

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

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Google in talks with SpaceX to build data centres in Earth orbit

Google in talks with SpaceX to build data centres in Earth orbit

Google is reportedly in early discussions with Elon Musk’s SpaceX about launching a rocket deal to support data centres in Earth orbit, according to The Wall Street Journal. The proposal would shift some cloud infrastructure from ground-based sites to space, aligning with Google’s growing space ambitions and potentially reshaping latency, scale, and security assumptions.

Summarised by Beize from a story on Republic on 12 May 2026
Wang Yi skips BRICS foreign ministers meet as China sends a different representative to New Delhi

Wang Yi skips BRICS foreign ministers meet as China sends a different representative to New Delhi

China’s Foreign Minister Wang Yi will not attend the upcoming BRICS Foreign Ministers’ meeting in New Delhi. Ambassador Xi Feihong will represent Beijing instead. The move comes as China endorses India’s presidency within BRICS, signaling continued support for multilateral cooperation—even as Wang Yi stays away from the top-level gathering.

Summarised by Beize from a story on The Economic Times on 12 May 2026
KKR reveal Virat Kohli plan as playoff stakes soar in Raipur vs RCB

KKR reveal Virat Kohli plan as playoff stakes soar in Raipur vs RCB

KKR’s fortunes have swung after a slow start, stringing together four straight wins to put them firmly in playoff contention. Now they face Virat Kohli’s in-form RCB in Raipur in a high-stakes IPL 2026 clash. The meeting promises tactical fireworks as both teams look to seize momentum when every result matters.

Summarised by Beize from a story on Republic on 12 May 2026
US workers real wages slide as inflation races past paychecks

US workers real wages slide as inflation races past paychecks

US inflation hit 3.8% in April, the highest since May 2023, pushing prices higher faster than paychecks can grow. Real wages fell for the first time in three years as gasoline surged 28.4% and rent inflation accelerated. Middle-class families are now paying more for essentials like groceries, fuel, electricity, and housing—turning inflation into a daily affordability shock.

Summarised by Beize from a story on The Economic Times on 12 May 2026
RBI cancels Sarvodaya Co-operative Bank license as operations end May 12 2026

RBI cancels Sarvodaya Co-operative Bank license as operations end May 12 2026

The Reserve Bank of India has cancelled the licence of Mumbai-based Sarvodaya Co-operative Bank after finding weak capital and deteriorating revenue ability. All banking operations will stop from May 12, 2026. To protect depositors, clients can claim deposit insurance coverage up to Rs 5 lakh, helping limit the fallout for customers.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Israeli report says Hamas committed systematic sexual violence on Oct 7 against hostages

Israeli report says Hamas committed systematic sexual violence on Oct 7 against hostages

An Israeli commission report alleges Hamas and allied forces carried out systematic, widespread sexual violence during the Oct 7 attack and against hostages. Drawing on earlier investigations including UN findings, the report describes abuse and torture and concludes the acts amount to war crimes. Hamas denies such accusations, while the commission says the goal is to ensure victims’ suffering is not forgotten.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Farooq Abdullah says alcohol ban in Jammu Kashmir could happen in minutes with compensation

Farooq Abdullah says alcohol ban in Jammu Kashmir could happen in minutes with compensation

Farooq Abdullah reignited the liquor-outlet dispute in Jammu and Kashmir, saying a ban on alcohol could be imposed “within minutes” if the Centre compensates the revenue loss. Abdullah clarified he does not drink, arguing that people would still find alcohol outside if it is withdrawn locally, keeping consumption habits intact.

Summarised by Beize from a story on Republic on 12 May 2026
Vijay OSD row erupts before floor test as Congress Left allies question astrologer appointment

Vijay OSD row erupts before floor test as Congress Left allies question astrologer appointment

Tamil Nadu Chief Minister Vijay faces fresh political heat over appointing his astrologer Radhan Pandit Vettrivel as OSD to the CM, even before any floor test. While Vijay’s supporters argue the move is tied to Vettrivel’s prediction of his landslide win, key allies including Congress and the Left reportedly found the explanation uncomfortable, escalating tensions ahead of the challenge.

Summarised by Beize from a story on Republic on 12 May 2026
Dil Foods raises 7.5 million to scale restaurant network across new Indian cities

Dil Foods raises 7.5 million to scale restaurant network across new Indian cities

Restaurant enablement startup Dil Foods has raised $7.5 million in a round led by the Bikaji Foods family office. The funding will support expansion into new cities, broaden cuisine offerings, and strengthen its supply chain. Dil Foods targets 600 locations by FY28 and annualized revenue of Rs 500 crore as it accelerates growth.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Indira Gandhi donated 367 grams of gold in 1962 and the photo sparks new gold debate

Indira Gandhi donated 367 grams of gold in 1962 and the photo sparks new gold debate

A resurfaced 1962 photograph shows former Prime Minister Indira Gandhi donating jewellery during the India-China war. The gesture came after a national appeal to boost defence preparedness, and she reportedly contributed around 367 grams of gold. As discussions over today’s gold buying intensify, the image is being recalled as a powerful example of public sacrifice in times of crisis.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Berger Paints Q4 profit jumps 27% to Rs 335 crore as margins stay resilient

Berger Paints Q4 profit jumps 27% to Rs 335 crore as margins stay resilient

Berger Paints posted a 27% jump in quarterly profit to Rs 335 crore, supported by higher volumes, an improved product mix, and robust gross margins. Revenue and EBITDA also rose. Still, the paint maker warned that crude volatility, currency depreciation, and geopolitical disruptions could raise costs and fuel inflation pressure ahead.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Exaforce raises 125M Series B to stop cyberattacks in real time with AI

Exaforce raises 125M Series B to stop cyberattacks in real time with AI

Exaforce, a three-year-old cybersecurity startup, has raised a $125M Series B to build AI that can detect and halt cyberattacks as they unfold. The funding round values the company at $725M, underscoring investors’ bet that real-time attack interruption—not just prevention—will define the next wave of security tooling.

Summarised by Beize from a story on TechCrunch on 12 May 2026
India launches maritime insurance pool to shield ships from war and cargo risks

India launches maritime insurance pool to shield ships from war and cargo risks

India has launched a domestic maritime insurance pool to support its shipping and reduce dependence on foreign insurers. Vedanta Sterlite, Balrampur Sugar, and Hoger Offshore are among the first beneficiaries. The pool is designed to provide financial cover for war perils and cargo risks, strengthening India’s control over maritime trade.

Summarised by Beize from a story on The Economic Times on 12 May 2026
WHO warns hantavirus cases will surge soon after confirmed deaths

WHO warns hantavirus cases will surge soon after confirmed deaths

The WHO director has warned that hantavirus cases are expected to rise in the coming days, citing growing epidemic concerns. So far, 11 hantavirus-related cases have been reported, including three deaths. Health authorities are urging heightened vigilance as the situation could worsen rapidly, with transmission and spread under close monitoring.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Putin says Russia will deploy new Sarmat nuclear missile this year after delays

Putin says Russia will deploy new Sarmat nuclear missile this year after delays

As the year closes, President Vladimir Putin says Russia will deploy the new Sarmat nuclear missile. After repeated delays, the long-awaited system is being framed as the world’s most formidable missile, capable of striking targets thousands of miles away. The rollout signals a step up in Russia’s nuclear strategy and geopolitical leverage.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Bulandshahr celebratory firing victim Reyansh gets second surgery as father walks free on bail

Bulandshahr celebratory firing victim Reyansh gets second surgery as father walks free on bail

Eight-year-old Reyansh Soni, critically hurt in Bulandshahr’s celebratory firing incident, has undergone a second major head surgery for facial reconstruction at a private hospital in Greater Noida, reportedly successfully. The case, which triggered public outrage, also saw the accused father granted bail, intensifying scrutiny over the handling of the matter.

Summarised by Beize from a story on Republic on 12 May 2026
Kalpataru pre sales jump 17% to Rs 5280 crore as Q4 profit rises to Rs 194 crore

Kalpataru pre sales jump 17% to Rs 5280 crore as Q4 profit rises to Rs 194 crore

Kalpataru posted its strongest operating quarter, with pre-sales up 17% to Rs 5,280 crore and Q4 net profit at Rs 194 crore. Strong demand in Mumbai, better sale realisations, and robust project completions boosted collections and profit growth. Debt reduction also improved its financial position, even as accounting and revenue recognition timing differences affected reported figures.

Summarised by Beize from a story on The Economic Times on 12 May 2026
PCOS could soon be renamed PMOS as experts push for fairer diagnosis and treatment

PCOS could soon be renamed PMOS as experts push for fairer diagnosis and treatment

Global health experts are urging a rename of Polycystic Ovary Syndrome (PCOS) to Polyendocrine Metabolic Ovarian Syndrome (PMOS). The proposal is intended to better capture the condition’s wider hormonal and metabolic effects, rather than implying that ovarian cysts are the central issue. If adopted, it could reshape awareness, research framing, and patient understanding.

Summarised by Beize from a story on The Economic Times on 12 May 2026
₹15 lakh sale alleged after ₹5 lakh profit bid in NEET leak encrypted app case

₹15 lakh sale alleged after ₹5 lakh profit bid in NEET leak encrypted app case

Investigators say accused Shubham Khairnar allegedly profited from the NEET-UG 2026 question paper leak by reselling it after obtaining the document. Officials report the paper’s transfer and delivery were carried out via an unknown encrypted messaging application, then Khairnar allegedly sold the leaked paper to secondary buyers for far more, targeting a ₹15 lakh return.

Summarised by Beize from a story on Republic on 12 May 2026
Hyderabad launches Jail Anubhavam letting citizens live prisoner routines for 24 hours

Hyderabad launches Jail Anubhavam letting citizens live prisoner routines for 24 hours

Hyderabad has unveiled the Telangana Prisons Museum alongside the “Jail Anubhavam” program, where citizens can book 12- or 24-hour simulated prison stays. Under strict schedules and discipline, participants follow correctional routines, eat jail food, and sleep in prison cells. Organisers say the effort is designed to educate the public about lawful conduct and how rehabilitation works.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Nazara FY26 EBITDA Jumps 66% With Gaming Fueling 90% of Profits and Margins Near Doubling

Nazara FY26 EBITDA Jumps 66% With Gaming Fueling 90% of Profits and Margins Near Doubling

Nazara Technologies’ FY26 delivered a sharp turnaround: revenue rose 13% to INR 1,829 cr and EBITDA surged 66% to INR 255 cr. Q4FY26 EBITDA margin nearly doubled to 19.5%. Operating cash flow jumped 81% to INR 213 cr, while gaming’s share of EBITDA climbed from 56% to 90% as the company leaned into higher-margin core IP and global expansion.

Summarised by Beize from a story on IndianWeb2 on 12 May 2026
Anthropic Mythos AI spots bank cyber holes as US banks rush to patch fast

Anthropic Mythos AI spots bank cyber holes as US banks rush to patch fast

US top banks are scrambling to patch IT vulnerabilities flagged by Anthropic’s Mythos AI tool. The system reportedly finds a broad set of security gaps, prompting urgent repairs and software upgrades. Anthropic’s findings are also being shared with smaller banks, speeding the cycle of fixes—though the rapid changes could temporarily disrupt customer services.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Dixon Tech profit plunges 36 as demand weakens and costs rise sharply

Dixon Tech profit plunges 36 as demand weakens and costs rise sharply

Dixon Technologies’ quarterly profit fell 36% even as revenue grew, driven by soft consumer demand, higher component costs and the withdrawal of PLI benefits. Margins came under pressure, but the company is looking ahead with plans to scale smartphone manufacturing, telecom equipment, exports and IT hardware, betting on strong growth momentum into FY27.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Temple wall collapses in Sangli killing six and injuring over a dozen in strong winds

Temple wall collapses in Sangli killing six and injuring over a dozen in strong winds

A temple wall in Sangli, Maharashtra collapsed amid strong winds on Tuesday, leaving at least six people dead and 12 to 14 others injured. Emergency responders rushed to the site as the collapse caused widespread damage on the temple premises. Authorities are assessing the structural condition of the wall and investigating what led to the failure.

Summarised by Beize from a story on Republic on 12 May 2026
Netflix says it spent 135 billion on content and sparked 425000 global jobs

Netflix says it spent 135 billion on content and sparked 425000 global jobs

Netflix claims it invested more than $135 billion in films and series over the past decade, funding creators and production worldwide. The company says this spending boosted the global economy by over $325 billion and supported more than 425,000 jobs. Netflix added that it plans to keep backing creators and production around the world.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Nexus Select Trust Q4 net operating income jumps 11 percent to Rs 440 crore

Nexus Select Trust Q4 net operating income jumps 11 percent to Rs 440 crore

Nexus Select Trust said its Q4 net operating income rose 11% to Rs 440 crore, powered by stronger tenant sales and improved retail income across consumption categories. Occupancy remained stable as the retail REIT added to its footprint through acquisitions and development deals, while preserving healthy payouts. The company also guided continued distribution growth for FY27.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Iranian Foreign Minister Araghchi to visit India for BRICS summit and deepen strategic ties

Iranian Foreign Minister Araghchi to visit India for BRICS summit and deepen strategic ties

Iranian Foreign Minister Seyed Abbas Araghchi will travel to India for the upcoming BRICS summit, signalling a push to strengthen ties with New Delhi. The New Delhi meeting is set to include multilateral coordination and high-level bilateral discussions, including talks with India’s foreign minister. The visit builds on earlier diplomatic engagements and aims to expand shared strategic partnerships.

Summarised by Beize from a story on The Economic Times on 12 May 2026
SEBI plans cash settlement for agri derivatives as position limits get eased

SEBI plans cash settlement for agri derivatives as position limits get eased

SEBI has proposed allowing cash settlement in agri derivatives and relaxing position limits to improve liquidity. The regulator stressed it is not a move away from physical settlement—cash will be used only as an interim measure. Caps and thresholds are set to depend on average daily traded volume and open interest, with an overall two-year limit from launch.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Welspun One and Balmer Lawrie ink deal for 65000 sq ft warehousing expansion at JNPA SEZ

Welspun One and Balmer Lawrie ink deal for 65000 sq ft warehousing expansion at JNPA SEZ

Welspun One has signed an agreement with Balmer Lawrie to lease 65,000 sq ft of warehousing space at WTC Nhava Sheva within the JNPA SEZ. The deal is Welspun One’s first partnership with a government-owned company. Balmer Lawrie plans to expand logistics operations, with the facility expected to be operational by early 2027.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Investors want Trump and Xi to keep politics out of AI as tensions reshape markets

Investors want Trump and Xi to keep politics out of AI as tensions reshape markets

Investors are urging both Donald Trump and Xi Jinping to avoid pulling AI into geopolitics, saying uncertainty is already affecting market confidence. Analysts note that China is showing less eagerness to engage, while Trump’s unresolved Iran war raises questions about his negotiating leverage and priorities—focusing attention on how quickly AI policy can move beyond political turbulence.

Summarised by Beize from a story on The Economic Times on 12 May 2026
US inflation jumps to three year high as April CPI surprises and rate cut bets wobble

US inflation jumps to three year high as April CPI surprises and rate cut bets wobble

US consumer prices climbed briskly again in April, marking the largest annual inflation increase in nearly three years. The data extends a second straight month of faster price growth, raising fresh questions about whether the US Federal Reserve can justify an interest rate cut soon. Markets now weigh the CPI shock against the Fed’s inflation and jobs targets.

Summarised by Beize from a story on The Economic Times on 12 May 2026
Bengaluru techie quits 30 lakh job then gets arrested over fake trading app fraud

Bengaluru techie quits 30 lakh job then gets arrested over fake trading app fraud

Delhi Police arrested 31-year-old Bengaluru software engineer Ravi Rathore for allegedly running a fake online trading racket. Investigators say his fraudulent mobile app and website promised guaranteed returns while using manipulated profit displays, fake investment claims, and call-centre operations. Technical analysis reportedly shows over 14,000 transactions and about 636 victim-linked accounts tied to a scam involving nearly Rs 100 crore.

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