Stories from earlier this week and beyond.
US forces disabled two Iranian oil tankers after exchanging fire in the Strait of Hormuz, as the UAE reported an Iranian missile and drone attack. The flare-up raises fresh doubts over a fragile ceasefire while Washington awaits Iran’s response to a proposal to end the war and reopen the crucial shipping route through the strait.
Tamil Nadu’s VCK says its X account was suspended for violating platform rules after an alleged post appeared to support Tamilaga Vettri Kazhagam’s push for a coalition government. TVK, led by Vijay, reportedly built a winning majority in the Assembly with backing from smaller parties including CPI, CPI(M), and Congress.
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State Bank of India shares fell nearly 7%, the steepest single-day drop in two years, after softer-than-expected fourth-quarter earnings. Investors pointed to reduced net interest margins and lower treasury income as the main drag. Analysts warn the selloff may continue, though they see support around the ₹970 to ₹990 range.
Turkish fashion influencer Ayşegül Eraslan was found dead at her home, and her family lawyer says she had been blackmailed and threatened before her death. Police are investigating the case, including forensic examination of her mobile phones and notes. Eraslan had gained fame through a fashion show and built a large social media following.
The government has appointed Lieutenant General N S Raja Subramani (Retd.) as the next Chief of Defence Staff, effective from when he assumes charge. Alongside the CDS role, he will also serve as Secretary to the Government of India in the Department of Military Affairs. Previously, he was Military Adviser at the National Security Council Secretariat.
In Puducherry, the Latchiya Jananayaga Katchi (LJK) party has submitted a letter to the Lieutenant Governor supporting NR Congress leader N Rangaswamy for the Chief Minister post. After winning the assembly polls, Rangaswamy met the LG and staked his claim to form the government, with the swearing-in planned for May 13.
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An ITAT Mumbai ruling granted a woman a Rs 1.49 crore interest deduction after she borrowed money to invest in a venture capital fund. The Income Tax Department had rejected her claim, but the tribunal allowed it, pointing to consistent acceptance of similar deductions and holding that she provided adequate evidence the borrowed funds were used to generate income.
The US government is reported to be close to a roughly $400 million settlement with TikTok over alleged violations of child privacy laws. The claims say TikTok collected children’s data without parental consent. Reports also suggest the money may be directed toward President Trump’s beautification efforts in Washington, adding political controversy to the legal outcome.
Tamil Nadu is seeing a mixed summer pattern: coastal districts remain hot and humid, while western and southern areas may get thunderstorms and rain. Delta regions could also see scattered showers. Though no widespread extreme weather is expected, localized heavy rain is possible, meaning forecasts may vary sharply by district.
SEBI has cleared five companies to proceed with Initial Public Offerings after issuing and resolving their observations. The green light covers Dhoot Transmission, Horizon Industrial Parks, Hotel Polo Towers, Crystal Crop Protection, and Surgiwear. With approvals in place, each firm can move forward with raising funds through public issues, marking a fresh wave of IPO activity for Indian markets.
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A federal judge has put the SEC’s $1.5 million settlement with Elon Musk on hold after concerns about the deal’s fairness and how it was negotiated. Judge Sparkle Sooknanan is asking for more information tied to Musk’s delayed Twitter stock disclosure before deciding whether to grant approval.
The CDC says infected US passengers aboard the cruise ship MV Hondius will be brought to a designated location as authorities intensify monitoring. While hantavirus is typically spread by rodents, the CDC notes rare person to person transmission. It also plans to release updated monitoring guidance and resources for state and local health departments.
Quick commerce giant Zepto has received key SEBI approvals, with observations issued on its draft red herring prospectus between May 4 and 8 as part of a batch covering six firms. The company’s IPO is currently expected around Rs 8,000–9,000 crore, down from an earlier Rs 11,000–12,000 crore, setting up a public debut alongside Zomato and Swiggy.
State Bank of India logged its second-highest annual corporate profit at ₹83,299 crore, while Q4 net profit grew 6% on steady loan growth. Still, investors turned cautious as margins faced pressure and treasury losses weighed on sentiment. Chairman CS Setty said he remains confident about credit growth through the current fiscal year.
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Tamilaga Vettri Kazhagam dismissed AMMK general secretary TTV Dhinakaran’s claim that MLA-elect Kamaraj wrote a letter supporting Vijay for a coalition government. Dhinakaran visited Lok Bhavan with the letter, but TVK responded that its post-poll position doesn’t require bargaining or negotiation with any party. TVK had won 108 seats, missing the 118-seat majority mark.
The IMF board approved reviews of Pakistan’s existing loan programmes, enabling the country to access roughly $1.32 billion in fresh funding immediately. The decision follows programme assessments tied to Pakistan’s economic targets, signaling continued support as Pakistan navigates repayment and stabilization challenges.
US President Trump said the US is “supposedly” expecting Iran’s response after its peace proposal, while Secretary of State Rubio said a reply is expected Friday. The Pentagon released video of US strikes on Iranian oil tankers in the Strait of Hormuz. Meanwhile, Iran’s foreign minister criticized US military actions as undermining diplomacy, as Israel-Lebanon talks are scheduled for May 14–15.
The ITAT Mumbai ruled in favour of Aishwarya Bachchan, allowing a Rs 1.49 crore interest deduction claimed on a loan taken to invest in a venture capital fund. The Income Tax Department had denied the deduction, but the tribunal held that similar past claims were accepted and that there was enough evidence showing the borrowed money was used to generate income.
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The Trump administration has appealed a court decision that rejected its 10% global tariff authority under a 1970s trade law. While the ruling blocked the tariffs for three specific importers, officials say they expect to win on appeal. The setback unfolds as the administration pursues wider tariff moves under a separate trade statute.
Kyle Rittenhouse, acquitted in the 2020 Kenosha shootings, says he was hospitalized after a brown recluse spider bite. The 23-year-old posted the update on X, joking that the venom “did not survive” and that he didn’t get any superpowers. Brown recluse bites can cause serious tissue damage, though severe outcomes are uncommon.
President Donald Trump is recalibrating his approach to Iran by putting the reopening of the Strait of Hormuz first. The Strait is vital for global oil and gas shipments. Meanwhile, Trump is postponing the tougher negotiations over Iran’s nuclear and missile programs, signaling a strategy shift that could reshape timing and leverage in the standoff.
US President Donald Trump said he expects Iran to respond by Friday night to Washington’s latest proposal aimed at ending the Middle East conflict. Speaking outside the White House, Trump said he was “getting a letter supposedly tonight,” signaling the US would evaluate Iran’s reply as diplomatic efforts continue amid heightened regional tensions.
Tata Trusts have postponed crucial board meetings that were set to discuss Tata Sons’ potential public listing and board representation. The delay is attributed to legal challenges and internal differences among trustees. The trusts say they are strengthening their position that Tata Sons should remain privately held, seeking alignment with the majority institutional view before any major decision.
India’s May 8 missile launch over the Bay of Bengal—accompanied by a 3500 km NOTAM and no official explanation—has triggered speculation about whether it signals an Agni-5 upgrade or an Agni-6 step. The move lands as China and Pakistan reportedly expand nuclear and hypersonic capabilities, reshaping deterrence calculations across the Indo-Pacific.
The Centre has unveiled a nationwide framework for transferring central government land, designed to reduce litigation and improve asset monetisation. The policy requires separate valuations for buildings and sets strict rules on public versus commercial use to strengthen transparency. Transfers involving private entities or state governments will need cabinet approval, aiming to unlock funding for public projects.
New research shows mouth bacteria change behavior depending on oxygen, with quorum sensing signals playing a key role in whether plaque becomes harmful. By using lactonase enzymes to block AHL chemical “communication,” scientists boosted health-linked oral microbes without killing them. The findings suggest future gum disease treatments could reshape plaque by rewiring bacterial messaging rather than using broad antibiotics.
The U.S. Treasury has imposed sanctions on 10 individuals and companies based in China and Hong Kong, accusing them of helping Iran build Shahed drones and ballistic missiles. The agency said it remains ready to use additional economic measures against Iran’s military industrial base to stop Tehran from rebuilding production capacity.
U.S. and Iran talks to cool their conflict have stalled as renewed clashes flare in the Gulf. A U.S. intelligence assessment says Tehran could withstand a naval blockade for months. Iran meanwhile claims the U.S. breached a ceasefire. The U.S. has also announced fresh sanctions targeting individuals and companies supporting Iran’s military.
The US has updated a proposed UN resolution urging Iran to stop attacks and mining in the Strait of Hormuz, amid claims the waterway could reopen on Saturday. However, the changes are unlikely to stop China and Russia from vetoing the measure, leaving the standoff and shipping uncertainty unresolved.
Foreign universities are revamping recruitment strategies as Indian student interest appears to cool. With traditional appeal losing steam, institutions are leaning on aggressive outreach, new partnerships, and sharper messaging to stand out in a crowded global education market, amid changing costs, visa realities, and shifting preferences among applicants.
Lottery tycoon Santiago Martin’s family has moved from alleged behind-the-scenes influence to direct political representation. Wife Leema Rose won an MLA seat in Tamil Nadu, son Jose Charles Martin won in Puducherry, and estranged son-in-law Aadhav Arjuna also secured an MLA victory. Observers say this could reshape how business families plan future political leverage.
FIFA World Cup 2026 will be co hosted across multiple countries, marking only the second time the tournament has taken this approach. The 2002 World Cup was the previous example, jointly hosted by South Korea and Japan, with South Korea delivering the opening ceremony. Details now point to an even bigger, multi venue spectacle for 2026.
India’s leading retail chains, including Reliance Retail and DMart, added 2,182 stores in FY26, the highest in three years. The expansion is linked to recovering demand, recent tax cuts, and a shift in preference toward organised retail—especially in smaller towns—suggesting momentum is building across the sector.
A U.S. judge has dismissed a defamation lawsuit against Fox News tied to Donald Trump supporters, even after granting the plaintiff another chance to refile. The court said the revised case still did not meet legal requirements. The ruling underscores how difficult it is to sustain defamation claims against major media outlets in federal court.
As Tamil Nadu’s next government formation talks intensify, AMMK has filed a police complaint against TVK, alleging it used a forged letter attributed to MLA Kamaraj to claim support. The move comes amid competing claims, rival videos, and shifting backing between parties, including Dhinakaran’s support for AIADMK’s Palaniswami before the Governor.
Tencent has exited PB Fintech completely, selling its entire 1.05% stake for ₹805.4 crore through a block deal. The sale involved offloading 48.4 lakh shares at ₹1,664 each, bought by funds including HDFC Mutual Fund and Morgan Stanley. Tencent’s stake has been steadily falling since 2019, as PB Fintech’s profits and revenue climb despite mixed share performance.
A hantavirus strain known as the Andes virus has reportedly been detected in people who tested positive, intensifying global alarm. The CDC has classified the outbreak response as a Level 3 emergency, amid concerns that this specific strain may transmit from person to person—an unusually worrying development compared with typical hantavirus behavior.
UFC 328 is set to deliver fireworks as Khamzat Chimaev takes on Sean Strickland. Ahead of the main event, the promotion initially allowed the ceremonial faceoff, but security cut it short after Chimaev kicked Strickland in the leg. With records pointing to a high-stakes matchup, fans are rushing to learn timings, predictions, and how to watch live.
Laid-off Oracle employees say they pushed for better severance terms, only to be rejected by the company. A key dispute: some workers reportedly found they didn’t qualify for WARN Act protections like a two-month notice because Oracle classified them as remote employees, cutting off timelines and benefits the employees expected.
Qualcomm is making a serious bid for the Nvidia-led data center AI chip market by developing custom CPUs for agentic AI and dedicated AI accelerators. The company says hyperscaler tailored chips will be delivered by year end. Beyond data centers, Qualcomm is also expanding into AI wearables, automotive systems, and telecom infrastructure, betting on broad growth.
Lenskart’s six-month IPO lock-in expired, prompting existing backers to sell shares worth at least ₹3,861.1 crore through multiple block deals. NSE data shows sales of at least 8.15 crore shares at ₹473.4 each. The deals were executed about 3.7% below the stock’s BSE closing price, even as the shares ended the day slightly higher.
San Francisco’s housing market appears detached from ordinary affordability, driven by the city’s booming tech fortunes. Employees at some of the world’s most valuable private companies have been stacking wealth and, increasingly, cashing out. That flow of money is boosting demand and intensifying competition for homes, pushing prices further away from the broader market reality.
India and Vietnam upgraded ties to an Enhanced Comprehensive Strategic Partnership as President To Lam visited New Delhi. Modi and To Lam set a USD 25 billion bilateral trade target by 2030 and signed 13 MoUs spanning defence, rare earths, digital payments, pharmaceuticals, and emerging tech. The package also moves agricultural access, including durian and grape openings.
Anthropic says it reached a $30 billion annualized revenue run rate after revenue and usage jumped 80x in the first quarter on an annualized basis. The breakneck pace is straining compute, pushing the company to secure massive GPU capacity, including from SpaceX, while its agentic coding product Claude Code drives enterprise demand at unprecedented speed.
Cars24, the IPO-bound used-car marketplace, says it became profitable for the first time in Q4 FY26 with ₹20 crore adjusted EBITDA. The company also claims “structurally positive” margins in the UAE and operating profitability in Australia, attributing gains to AI-led efficiencies, lower acquisition costs, and lending momentum. Full FY26 EBITDA loss narrowed, while transaction volumes shifted toward vehicle ownership services.
US Central Command says US naval forces disabled two additional Iranian-flagged oil tankers in the Gulf of Oman, raising the total to four. Alongside the action, CENTCOM reports that 57 commercial vessels were redirected in the region. It also claims that more than 70 oil tankers carrying an estimated $13 billion in oil were blocked under US measures aimed at Iran.
OpenAI’s new GPT-Realtime-2, GPT-Realtime-Translate, and GPT-Realtime-Whisper aim to cut the heavy engineering overhead behind voice agents. Rather than cramming reasoning, transcription, and translation into one system, OpenAI routes each task to specialized models, letting enterprises orchestrate more cleanly within a 128K context window. The shift could make voice agents cheaper and easier to scale.
The Trump administration, led by President Trump and Defense Secretary Pete Hegseth, has declassified around 170 UFO and unidentified aerial phenomena files. The trove includes alleged imagery tied to the Moon, transcripts describing mysterious sightings by Apollo crews, and 1940s reports of “flying discs.” Officials say the release is meant to bring long-speculated events into open public view.
The Pentagon has released additional UAP files, posting videos, cables, and Apollo related transcripts, as Donald Trump backs the disclosures and invites the public to help determine what is happening. The documents include reports of objects making multiple 90 degree turns at high speed and references to Buzz Aldrin’s observation, though experts urge caution and note uncertainty.
A RedAccess study finds 380,000 publicly accessible assets built with vibe coding tools, with around 5,000 containing sensitive corporate data. Verified examples include unredacted customer chats, medical trial listings, incident response records, and exposed bank information. The issue stems from platform defaults that publish apps unless manually secured, turning shadow AI into a production risk layer.
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