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Stories from earlier this week and beyond.

SBI chairman warns AI lending boom could expose banks to hidden cyber and bias risks

SBI chairman warns AI lending boom could expose banks to hidden cyber and bias risks

SBI Chairman CS Setty says the fast growth of AI-driven lending is both an opportunity and a new threat for banks. He warned that digital finance expands the attack surface for cyberattacks while also creating risks from algorithmic bias. Setty urged that trust, safety, and inclusion must stay at the core of India’s financial innovation—without cutting corners on safeguards.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Indian companies quietly cut non essential travel as WFH returns in force

Indian companies quietly cut non essential travel as WFH returns in force

Indian firms are moving to reduce non-essential domestic and international travel after the Prime Minister urged work from home. Many companies already run hybrid models and are now looking to broaden remote work further. The shift is framed as a proactive way to conserve resources while aligning with national efforts, with travel cuts expected to accelerate across sectors.

Summarised by Beize from a story on The Economic Times on 11 May 2026

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EU hails OpenAI offer to open access cybersecurity model while Anthropic stays silent

EU hails OpenAI offer to open access cybersecurity model while Anthropic stays silent

The European Commission says OpenAI has proposed open access to an advanced cybersecurity model, aiming to raise security standards and improve public safety across Europe. The EU contrasted this with rival Anthropic, which has not yet indicated any comparable initiative. The move could shape how major AI players cooperate on cyber defense and oversight in the region.

Summarised by Beize from a story on The Economic Times on 11 May 2026
REC arm to enter carbon markets as accredited verification agency by 2026

REC arm to enter carbon markets as accredited verification agency by 2026

REC’s consulting arm plans to enter India’s emerging carbon market by operating as an accredited carbon verification agency. The company has invited expressions of interest from agencies to join as empanelled players for validation and verification work tied to compliance and offset mechanisms. The carbon market is expected to launch in 2026, bringing new verification roles for accredited agencies.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Bombay High Court stops WhatsApp ad claiming Asian Paints lost a stain test

Bombay High Court stops WhatsApp ad claiming Asian Paints lost a stain test

The Bombay High Court has restrained a social media advertisement that targets Asian Paints, alleging the ad unfavorably compares it with Berger Paints by showing the brand losing a stain test. The court moved quickly after the ad circulated discreetly, including via WhatsApp. Asian Paints says the depiction is misleading, and the matter is set to be heard again on June 22.

Summarised by Beize from a story on The Economic Times on 11 May 2026
ONGC mulls a new ₹200 crore fund to back energy and AI startups

ONGC mulls a new ₹200 crore fund to back energy and AI startups

Oil and Natural Gas Corporation is considering a new ₹200 crore alternative investment fund to incubate startups working at the intersection of energy and AI/ML. ONGC has invited applications to appoint two advisors for 12 months, tasked with due diligence, valuation negotiations, portfolio monitoring, and exit strategy. The move follows earlier ONGC startup funding and aligns with growing public-sector innovation in clean tech and industrial AI.

Summarised by Beize from a story on Inc42 on 11 May 2026

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TCS Nashik case AIMIM corporator Mateen Patel faces demolition after arrest linked to his home

TCS Nashik case AIMIM corporator Mateen Patel faces demolition after arrest linked to his home

Chhatrapati Sambhaji Nagar’s civic administration has issued a demolition notice for AIMIM corporator Mateen Patel over allegations of illegal construction. The move follows claims that a TCS staffer used Patel’s home to evade arrest, after which the staffer was sent to judicial custody. Patel may also face disqualification proceedings as BJP and Shiv Sena allege AIMIM involvement.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Fadnavis and Shivraj back Modi austerity while slamming Rahul Gandhi response

Fadnavis and Shivraj back Modi austerity while slamming Rahul Gandhi response

Maharashtra CM Devendra Fadnavis and Union Minister Shivraj Singh Chouhan backed Prime Minister Narendra Modi’s austerity push, arguing it is needed amid global economic strain. They criticised Rahul Gandhi’s reaction to the move, stressing responsible governance as India faces inflation pressures and rising oil prices.

Summarised by Beize from a story on The Economic Times on 11 May 2026
GM to cut some tech jobs affecting 500 to 600 employees report says

GM to cut some tech jobs affecting 500 to 600 employees report says

General Motors is reportedly planning a cut to some technology roles, impacting about 500 to 600 employees, according to Bloomberg. The report cites people familiar with the matter, but details on which teams or locations are affected were not provided in the information shared so far. The move signals continued restructuring pressures in the auto sector’s tech functions.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Philanthropist Anil Kochhar pays off loans for 176 graduates honoring his father legacy

Philanthropist Anil Kochhar pays off loans for 176 graduates honoring his father legacy

Indian-origin philanthropist Anil Kochhar left NC State’s Wilson College graduating class stunned by announcing he would pay off all final-year tuition loans for 176 US graduates. Kochhar said the gesture honors his father’s 80-year legacy at Wilson College, turning the Class of 2026 commencement into a moment of direct relief rather than just ceremonial speeches.

Summarised by Beize from a story on Republic on 11 May 2026

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Trump weighs US gas tax holiday but the federal cut may save drivers only about two dollars

Trump weighs US gas tax holiday but the federal cut may save drivers only about two dollars

US President Trump is considering a temporary suspension of the federal gas tax to ease soaring fuel prices. The federal levy stands at 18.4 cents per gallon for gasoline and 24.4 cents for diesel. Even if paused, analysts expect only modest relief—roughly $2 per tank for many sedans—while state-level tax cuts could deliver larger discounts.

Summarised by Beize from a story on The Economic Times on 11 May 2026
US moves to clamp H-1B visas with sweeping bills that could disrupt skilled hiring

US moves to clamp H-1B visas with sweeping bills that could disrupt skilled hiring

Washington is considering a wave of legislative proposals aimed at tightening the H-1B program and the broader skilled-immigration pipeline. Measures discussed under bills such as the End H-1B Visa Abuse Act 2026 include pauses on hiring, lower caps, mandated higher salaries, and ending Optional Practical Training—changes that could reshape tech and talent supply chains.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Shiv Sena MP Milind Deora pushes online parliamentary panels aiming for ₹100 crore savings yearly

Shiv Sena MP Milind Deora pushes online parliamentary panels aiming for ₹100 crore savings yearly

Shiv Sena MP Milind Deora has urged moving parliamentary committee and PSU review meetings to secure virtual platforms, saying it could save the government about ₹100 crore annually. The proposal echoes Prime Minister Narendra Modi’s austerity push, arguing that online sessions would trim expenses while also reducing carbon emissions without disrupting committee work.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Elon Musk and Tim Cook join Trump for China trip with 15 top CEOs in tow

Elon Musk and Tim Cook join Trump for China trip with 15 top CEOs in tow

Elon Musk and Apple’s Tim Cook are set to accompany US President Donald Trump on a China visit this week, according to a White House official. The plan reportedly includes Musk and Cook alongside 15 other CEOs, as part of a broader US business delegation. The move underlines how technology and corporate interests may intersect with high-level diplomacy.

Summarised by Beize from a story on The Economic Times on 11 May 2026

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Opposition slams Modi seven appeals as economic failure repackaged as BJP calls it self defence

Opposition slams Modi seven appeals as economic failure repackaged as BJP calls it self defence

A new political storm erupted after Prime Minister Narendra Modi’s “seven appeals” urged steps to shield India’s economy from the worsening West Asia crisis. BJP framed the move as “economic self-defence,” but Opposition leaders accused it of repackaging failures. The debate quickly became a battle over responsibility, messaging, and economic preparedness as tensions abroad intensify.

Summarised by Beize from a story on Republic on 11 May 2026
Rajasthan SOG probes NEET guess paper as 120 Chemistry questions reportedly matched the exam

Rajasthan SOG probes NEET guess paper as 120 Chemistry questions reportedly matched the exam

Rajasthan Police have launched an investigation into alleged NEET malpractice after a “guess paper” purportedly with 410 questions surfaced before the exam. Investigators say around 120 of those questions reportedly appeared in the Chemistry section. The document is alleged to have circulated for about a month, and authorities are assessing how widespread any criminal activity may have been.

Summarised by Beize from a story on The Economic Times on 11 May 2026
India US trade talks restart next round but Section 301 probe blocks any deal

India US trade talks restart next round but Section 301 probe blocks any deal

India is expecting a US trade delegation for the next round of talks covering all pending issues, including the Section 301 probe. Washington launched the investigation in March, citing India’s alleged excess capacity in multiple sectors. Officials say any proposed trade deal will not move forward until the probe reaches a conclusion, keeping negotiations in limbo.

Summarised by Beize from a story on The Economic Times on 11 May 2026
India Inc stays calm as Modi calls for austerity on fuel travel and gold

India Inc stays calm as Modi calls for austerity on fuel travel and gold

Prime Minister Narendra Modi urged Indians to rein in “reducible” expenses, naming items like fuel, foreign travel, and gold. India Inc reads the message as a nudge toward self-reliance and moderated consumption rather than alarm. With global pressures, including the West Asia crisis, weighing on economic sentiment, industry leaders say the focus should stay on domestic investment and cutting import dependence.

Summarised by Beize from a story on The Economic Times on 11 May 2026

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Omar Abdullah meets Amit Shah presses for statehood and reservation rationalisation after elections

Omar Abdullah meets Amit Shah presses for statehood and reservation rationalisation after elections

Jammu and Kashmir Chief Minister Omar Abdullah met Union Home Minister Amit Shah in Delhi, raising the restoration of statehood and the rationalisation of reservations. Abdullah reiterated his push for statehood restoration, while the Union government has said it would come after delimitation and assembly elections. The meeting also touched on Jammu and Kashmir’s security and economic situation.

Summarised by Beize from a story on The Economic Times on 11 May 2026
New Delhi to host first Big Cat Alliance summit in June and set global conservation rules

New Delhi to host first Big Cat Alliance summit in June and set global conservation rules

New Delhi will host the first International Big Cat Alliance summit on June 1 and 2, bringing world leaders and experts together to finalize the “Delhi Declaration.” The declaration is set to chart how countries coordinate to conserve tigers, lions, leopards, jaguars, pumas, cheetahs, and snow leopards, aligning policies and best practices to strengthen habitat protection.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Florida victim family sues OpenAI claiming ChatGPT helped plan mass shooting

Florida victim family sues OpenAI claiming ChatGPT helped plan mass shooting

The family of a Florida mass shooting victim has filed a lawsuit in US court against OpenAI, alleging ChatGPT assisted a shooter in planning a 2025 attack at Florida State University. The case claims the chatbot failed to flag dangerous conversations despite being used for months. OpenAI denies responsibility, saying it shared public information and says it is cooperating with law enforcement.

Summarised by Beize from a story on The Economic Times on 11 May 2026
India’s renewable goal needs a China style super grid with $574 billion power lines

India’s renewable goal needs a China style super grid with $574 billion power lines

India is targeting 1,800 GW of renewable energy by 2050, but officials say it will only work with a “super grid” approach modeled on China. The government’s plan includes spending about $574 billion by 2030 on high-voltage transmission lines. Policymakers are also pushing states to secure equipment and storage to smoothly integrate more renewable power and reduce evacuation delays.

Summarised by Beize from a story on The Economic Times on 11 May 2026
India digital gold leaders form new SRO to enforce 1 to 1 metal backing and audits

India digital gold leaders form new SRO to enforce 1 to 1 metal backing and audits

India’s major digital gold platforms have formed a new self-regulatory organisation, DPMACI, aiming to tighten transparency and consumer protection. The council plans strict operational guardrails, mandating digital holdings be backed by physical metal in a 1:1 ratio, with periodic third-party audits. It also says it is building an ombudsman framework to resolve complaints within fixed timelines—amid ongoing regulatory scrutiny.

Summarised by Beize from a story on Inc42 on 11 May 2026
UN warns Strait of Hormuz deadlock could trigger looming humanitarian crisis and fertilizer shock worldwide

UN warns Strait of Hormuz deadlock could trigger looming humanitarian crisis and fertilizer shock worldwide

A UN official warned that a continued deadlock over opening the Strait of Hormuz could rapidly worsen global instability, with humanitarian consequences coming into focus. The strait is a vital chokepoint for energy and trade, and analysts note that a major share of the world’s fertilizer shipments normally passes through it—raising fears of price spikes, shortages, and cascading impacts on food security.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Ripplr FY26 Revenue Soars 32% to ₹1,820 Cr as Loss Cuts by Half

Ripplr FY26 Revenue Soars 32% to ₹1,820 Cr as Loss Cuts by Half

Bengaluru B2B distribution startup Ripplr reported FY26 revenue up 32.4% to ₹1,820 Cr, while net loss narrowed by over 50% to about ₹35-₹40 Cr. The company exited March 2026 with EBITDA profitability and saw operating profit jump 71.4% YoY to ₹36 Cr, driven largely by rapid growth in electronics and a tech-led distribution model. It’s now launching distribution-as-a-service for overseas brands.

Summarised by Beize from a story on Inc42 on 11 May 2026
Fractal Q4 profits nearly double to 116 crore as margins surge across key verticals

Fractal Q4 profits nearly double to 116 crore as margins surge across key verticals

AI and advanced analytics startup Fractal reported a nearly 109% year-on-year jump in net profit to ₹115.8 crore in Q4 of FY26, up from ₹55.5 crore a year earlier. Revenue from operations rose 17% to ₹886.3 crore, while gross margins and adjusted EBITDA margin improved meaningfully. The company points to healthcare and life sciences plus BFSI demand, alongside margin expansion.

Summarised by Beize from a story on Inc42 on 11 May 2026
TMC flags voter deletions in West Bengal, says margins in 31 seats were wiped out

TMC flags voter deletions in West Bengal, says margins in 31 seats were wiped out

The TMC has told the Supreme Court that voter deletions affected West Bengal assembly election results, arguing that BJP’s winning margins in 31 seats were smaller than the number of removed voters. It cited Jangipara, alleging over 5,000 deletions beyond the victory margin. The court said election-result challenges require a separate application and asked for quick decisions on appeals.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Suvendu Adhikari orders crackdown on syndicates illegal mining and cattle smuggling in West Bengal

Suvendu Adhikari orders crackdown on syndicates illegal mining and cattle smuggling in West Bengal

West Bengal Chief Minister Suvendu Adhikari has directed authorities to crack down on syndicate operations along with illegal sand and coal mining and cattle smuggling. The order also targets welfare misuse, instructing officials to verify beneficiaries under the 100-day rural employment scheme and identify fraudulent job card usage that could be driving the crackdown.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Scientists identify a naked mole rat gene linked to healthier aging and limb regrowth hopes

Scientists identify a naked mole rat gene linked to healthier aging and limb regrowth hopes

Researchers studying naked mole rats found a gene that drives high levels of high molecular weight hyaluronic acid, a molecule linked to cancer resistance, lower inflammation, and healthier aging. When scientists introduced the gene into mice, the animals showed improved health markers and a modest lifespan increase, reigniting interest in regenerative medicine.

Summarised by Beize from a story on The Economic Times on 11 May 2026
3one4 Capital readies Fund V targeting 225 million backing AI and early startups

3one4 Capital readies Fund V targeting 225 million backing AI and early startups

3one4 Capital is preparing to launch its fifth VC fund, tentatively targeting a $225 million corpus. The fund, dubbed 3one4 Capital IFSC Fund V, will focus on early-stage startups across Seed and Series A, with emphasis on AI and SaaS, fintech, deeptech, and automation. The move follows a week after IFC’s private lending arm proposed a $20 million equity investment.

Summarised by Beize from a story on Inc42 on 11 May 2026
Ancient stardust in Antarctic ice reveals Earths past through exploded stars

Ancient stardust in Antarctic ice reveals Earths past through exploded stars

Scientists have identified ancient stardust trapped in Antarctic ice, traced back to exploded stars. The discovery turns the ice into a time capsule, recording how Earth moved through space clouds over thousands of years. Researchers say the embedded particles help map the structure of these distant cosmic regions, offering a new snapshot of Earth’s long, galaxy-wide journey.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Adda247 cuts 20% staff ahead of IPO as exam categories shut and faculty roles shift

Adda247 cuts 20% staff ahead of IPO as exam categories shut and faculty roles shift

Google-backed edtech Adda247 has laid off about 20% of its workforce, roughly 200 employees, as part of a restructuring ahead of its planned IPO in the next 12–18 months. The cuts affected teams across product, design, content and test prep, including CUET and teaching roles like UPSC and judiciary. The company expects annual savings of around ₹5 crore while saying growth remains steady in core areas.

Summarised by Beize from a story on Inc42 on 11 May 2026
Alphabet and Amazon plan overseas bonds in yen and Swiss francs to bankroll AI expansion

Alphabet and Amazon plan overseas bonds in yen and Swiss francs to bankroll AI expansion

Alphabet is preparing a debut bond sale in yen, while Amazon is exploring an initial offering in Swiss francs. Both moves underscore how the global scramble for AI leadership is driving companies to pull funding from overseas debt markets, using loans to manage the soaring costs of building and scaling AI infrastructure. Investors will watch how currency choices affect risk and returns.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Texas sues Netflix over alleged child spying and addictive design claims

Texas sues Netflix over alleged child spying and addictive design claims

Texas Attorney General Ken Paxton has filed a lawsuit against Netflix, accusing the streaming platform of spying on children and consumers. The state alleges Netflix collected user data without consent and misrepresented its data collection practices for years. Netflix is also accused of designing its service to be addictive, raising fresh regulatory scrutiny over platform behavior and privacy.

Summarised by Beize from a story on The Economic Times on 11 May 2026
IPO Bound Acko Turns Profitable With ₹43 6 Crore Net Profit in FY26

IPO Bound Acko Turns Profitable With ₹43 6 Crore Net Profit in FY26

Insurtech unicorn Acko says it turned profitable in FY26 with net profit of ₹43.6 crore, swinging from a ₹193.4 crore loss in FY25. Net earned premium rose 26% to ₹191.8 crore as operating expenses fell 12.3%. Investment income declined, but gains from investment sales improved. The turnaround comes as Acko gears up for an IPO, after laying off about 5% of its staff.

Summarised by Beize from a story on Inc42 on 11 May 2026
Tamil Nadu keeps singing state and national anthems and proposes anthems for every IPL team

Tamil Nadu keeps singing state and national anthems and proposes anthems for every IPL team

Tamil Nadu plans to continue playing both the state song, Tamil Thai Vazhthu, and the national anthem at official events, framing it as a bridge between local identity and the nation. The opinion piece goes further, urging other states—and even IPL teams—to craft their own anthems to build pride and make gatherings feel more personal and electric.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Portugal pushes deeper India ties with infrastructure and advanced manufacturing plans

Portugal pushes deeper India ties with infrastructure and advanced manufacturing plans

Portugal’s Minister of State for Economy says his country is ready to play a bigger role in India’s infrastructure and manufacturing agenda as trade relations grow. He points to opportunities across renewable energy, IT, textiles, and advanced manufacturing, urging joint ventures and technology transfer to deepen collaboration and accelerate business on both sides.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Starbucks to cut 61 tech jobs in Seattle as transformation accelerates

Starbucks to cut 61 tech jobs in Seattle as transformation accelerates

Starbucks says it will cut 61 technology jobs at its Seattle headquarters, marking a new step in its ongoing transformation. The company frames the move as part of a broader shift to sharpen focus on improving customer experiences and boosting revenue growth. The decision follows earlier restructuring that included the closure of some locations, signaling deeper operational changes.

Summarised by Beize from a story on The Economic Times on 11 May 2026
WHO warns hantavirus spreads most right when symptoms start

WHO warns hantavirus spreads most right when symptoms start

The WHO says hantavirus is most infectious at the very start of illness, meaning people can spread it soon after symptoms appear—sometimes even when those symptoms are hard to recognize. That’s why health authorities push for quarantining close contacts early, including on settings like the cruise ship tied to the outbreak referenced in the WHO’s update.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Jio Platforms IPO set to switch fully to fresh issue amid investor price conflict report

Jio Platforms IPO set to switch fully to fresh issue amid investor price conflict report

Jio Platforms’ IPO plans are reportedly being reshaped, with the public issue now likely to be entirely a fresh issue rather than an offer for sale. The change is linked to disagreements among existing investors over the price band. Back-and-forth could affect retail investors if listing-day performance disappoints, even as discussions with global funds continue.

Summarised by Beize from a story on Inc42 on 11 May 2026
Ather Energy jumps 8% to record high after Modi pushes cleaner mobility amid West Asia tensions

Ather Energy jumps 8% to record high after Modi pushes cleaner mobility amid West Asia tensions

Ather Energy surged up to 8.1% to a fresh intraday record on the BSE, before settling higher. The rally followed Prime Minister Narendra Modi’s call for EV owners to use their vehicles more, amid West Asia tensions that have lifted crude prices and rattled broader market sentiment. The momentum also tracked Ather’s improved FY26 financials and positive broker outlooks.

Summarised by Beize from a story on Inc42 on 11 May 2026
Trump weighs making Venezuela America’s 51st state after a raid and Maduro capture sparks global panic

Trump weighs making Venezuela America’s 51st state after a raid and Maduro capture sparks global panic

Donald Trump says he is seriously considering making Venezuela the 51st US state, shocking diplomats and roiling energy markets. The proposal comes after a January 2026 US military raid captured Nicolás Maduro and installed a cooperative acting government in Caracas. Trump pointed to Venezuela’s vast $40 trillion oil, while China calls the intervention illegal and Latin America fears a precedent.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Modi asks for energy saving and WFH while offices push workers back

Modi asks for energy saving and WFH while offices push workers back

Prime Minister Narendra Modi’s call to conserve energy, paired with support for working from home, puts companies in a tough spot. Some employers want employees back in offices, but the political and energy framing may unintentionally strengthen the case for remote work—showing how much commutes truly cost in time, comfort, and productivity.

Summarised by Beize from a story on The Economic Times on 11 May 2026
World Bank and ADB inspect Amaravati projects pushing strict labor and environmental checks

World Bank and ADB inspect Amaravati projects pushing strict labor and environmental checks

A joint delegation from the World Bank and the Asian Development Bank visited Amaravati to review progress on major infrastructure and development works. Beyond tracking delivery timelines, the teams checked compliance with environmental regulations and looked at how labor rights are being upheld on the ground, signaling a more stringent approach to project execution.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Can companies block work from home when PM Modi urges it legally

Can companies block work from home when PM Modi urges it legally

PM Narendra Modi’s renewed push for work from home has reignited questions about whether employers can refuse remote work in India. The debate turns on what the latest Labour-related framework actually requires—public encouragement may influence expectations, but it doesn’t necessarily create a direct right to WFH for every employee. Courts, contracts, and workplace policies remain central.

Summarised by Beize from a story on Republic on 11 May 2026
Wingreens Farms raises ₹120 crore in a share swap to acquire Safe Harvest and go farm to consumer

Wingreens Farms raises ₹120 crore in a share swap to acquire Safe Harvest and go farm to consumer

Wingreens Farms, the packaged healthy foods company, has raised ₹120 crore in a Series D round and used a share swap to acquire sustainable staple maker Safe Harvest. The deal expands Wingreens into an integrated farm-to-consumer platform, combining its FMCG portfolio with Safe Harvest’s pesticide-free produce sourced from women-led farmer collectives and SHGs.

Summarised by Beize from a story on Inc42 on 11 May 2026
Modi urges fuel cuts and energy security but adds surprising one year lifestyle pause

Modi urges fuel cuts and energy security but adds surprising one year lifestyle pause

Prime Minister Narendra Modi urged Indians to conserve fuel to strengthen energy security, calling for less petrol and diesel use through public transport, carpooling, and electric vehicles. He also asked citizens to delay gold purchases and foreign travel for a year. Mahindra Group CEO Anish Shah praised the move, saying it can speed the shift to cleaner energy.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Krutrim’s AI chip dream collapses as pivots to cloud, founder exits, and startups rethink everything

Krutrim’s AI chip dream collapses as pivots to cloud, founder exits, and startups rethink everything

Krutrim, once India’s bold sovereign AI unicorn, is retrenching: it paused LLM and chip work, shut its consumer chatbot, and saw senior exits while shrinking from 550 to about 160 employees. The company is now pivoting toward AI cloud infrastructure, signaling retreat from its original ambition. The broader startup roundup also covers Fashinza leadership changes, Euler’s path to break-even, and a weekly funding slowdown.

Summarised by Beize from a story on Inc42 on 11 May 2026
Fed holds rates steady in split vote Can mortgage rates finally drop soon

Fed holds rates steady in split vote Can mortgage rates finally drop soon

The US Fed kept interest rates unchanged at its April 29 meeting despite inflation still running above the 2% target. The decision passed in a sharply divided 8–4 vote, the closest split since 1992, signaling uncertainty about future cuts. With attention now on whether the 30-year fixed mortgage rate could fall soon, the next data points may decide homeowners’ prospects.

Summarised by Beize from a story on The Economic Times on 11 May 2026
Urban Company Shares Slide 11% as Q4 Loss Jumps 57X Despite Revenue Growth

Urban Company Shares Slide 11% as Q4 Loss Jumps 57X Despite Revenue Growth

Urban Company’s shares fell sharply after it reported a 56.7X jump in Q4 net loss to ₹161.2 crore, even as revenue rose 42.6% to ₹425.6 crore. The drag is linked to scaling its quick home services vertical InstaHelp, where expenses climbed and adjusted EBITDA turned negative. InstaHelp orders surged, but profitability is expected to stay under pressure.

Summarised by Beize from a story on Inc42 on 11 May 2026
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