Stories from earlier this week and beyond.
Donald Trump spoke with European Commission President Ursula von der Leyen, with both leaders stressing that Iran must never possess a nuclear weapon. The call also covered EU-US trade ties, with a shared commitment to implement their trade deal and continued progress toward tariff reductions.
Nissan is restructuring its European operations by eliminating 900 jobs and consolidating production into its Sunderland, UK plant. The automaker will merge two assembly lines into one while making most changes across Europe rather than cutting production jobs at Sunderland. The move supports Nissan’s RE:Nissan recovery strategy aimed at reducing surplus capacity, boosting flexibility, and responding faster to demand shifts amid mounting EV and cost pressures.
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The US is seeking UN backing for a resolution demanding Iran stop attacks in the Strait of Hormuz, but China and Russia are widely expected to veto it—just as they did with an earlier measure. The US calls the effort a key test of the UN’s credibility, while Iran dismisses the proposal as one-sided.
FanDuel faced a major server outage on May 7, leaving thousands unable to access the sports betting platform. As reports piled up during the evening, users said they couldn’t place bets or cash out during live games. FanDuel Support acknowledged technical difficulties and said it’s investigating what caused the disruption.
Bangladesh National Citizen Party leader Nahid Islam reacted to West Bengal assembly election outcomes by alleging that minority voting rights were “snatched” and that communal propaganda is spreading. He warned Bangladesh cannot view minority targeting across the border in isolation, arguing that suppression of voting rights and attacks on communities may directly affect Bangladesh’s own sovereignty and stability.
Iran has created a new government agency tasked with controlling passage through the Strait of Hormuz, sparking fresh worries for global shipping routes. At the same time, Iran and the U.S. are still reviewing proposals in Pakistan mediated peace talks. Markets are watching closely as expectations for de escalation rise, while Saudi Arabia signals it won’t support the U.S.
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Nike is restructuring its technology operations, shutting tech offices in Atlanta, China, and Poland while relocating some functions to Portland, where the company’s global headquarters is based. The move is expected to affect nearly 1,400 jobs. Nike says it will create leaner IT teams, reduce management layers, and better align technology with business goals amid broader layoffs this year.
Joni Lamb, co founder of Daystar Television Network and a prominent on air Christian broadcaster, has died at 65. Reports say her health worsened after a back injury, which compounded existing private medical issues. Lamb built Daystar with her late husband Marcus Lamb and is survived by husband Doug Weiss and their three children.
India’s point-of-sale terminal supply is running thin as disruptions linked to the West Asia conflict squeeze imports. In ETtech’s Morning Dispatch, the shortage is described as a sudden shift affecting availability and delivery timelines, raising concerns for merchants and payments infrastructure reliant on timely hardware replenishment. Skyroot’s CEO and other tech developments are also in focus.
Cloudflare says it will cut about 20% of its workforce, affecting more than 1,100 employees worldwide, as it accelerates AI adoption. The company is shifting to an “agentic AI-first operating model,” using AI tools to reshape how work gets done. Even with stronger first-quarter results, Cloudflare expects second-quarter revenue to come in slightly below forecasts.
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The US has imposed sanctions on Iraq’s deputy oil minister and several militias, alleging they support Iran and its allied groups. The deputy minister is accused of misusing his role to help Iran, as Washington and Tehran continue discussions about a possible agreement. The move signals intensified pressure on partners seen as aiding Iran’s influence in Iraq.
PinSec.AI, the AI native wealth arm of Chennai based FPL Group, raised ₹5 crore from curated HNI investors. The company plans to launch a conversational AI advisory platform, followed by regulated portfolio management and digital wealth services, aiming for USD 1 billion in AUM by 2030. Its pitch: South India has HNI wealth and unmet tech first guidance needs.
The International Maritime Organization says around 1,500 ships carrying about 20,000 crew are trapped in the Gulf after an Iranian blockade in the Strait of Hormuz. The IMO chief described the situation as dire for “innocent sailors” and urged shipping to avoid the region, warning that continued disruptions could worsen casualties and economic losses.
About 104.7 crore Lenskart shares worth more than Rs 51,000 crore become tradable today after a six month lock in expiry. The eyewear retailer’s stock has rebounded sharply since its muted listing, even as it faced social media backlash and later policy changes around religious symbols. Investors will now watch trading volumes and price moves closely.
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Skyroot Aerospace, a Hyderabad spacetech startup, has raised $60 million in a co-led round by Sherpalo Ventures and GIC, crossing $1.1 billion pre-money valuation to become India’s first spacetech unicorn. The capital will scale commercial launches for Vikram-1. Meanwhile, Yuma Energy says its non-Yulu business is set to contribute 20–25% of revenue by year-end as it expands swapping across India.
Ukrainian President Volodymyr Zelenskiy says Russia continued violating a ceasefire that Kyiv proposed for the night of May 5-6. He framed the offer as a response to a Russian-declared ceasefire, but accused Moscow of flouting the new terms despite the window for a potential pause in fighting. The claim adds tension to talk of any endgame.
A Thrissur consumer commission ordered a dealer to pay Arun Rs 20,000 after his new bike developed multiple defects within two years, including engine overheating, meter issues and fuel tank problems. Arun reported persistent failures despite several service attempts. The panel ruled the dealer was responsible for deficient service and awarded compensation plus costs.
A major Canvas platform outage struck leading US universities on May 7, 2026, including Harvard and Stanford, after a cyberattack claimed by ShinyHunters. The group reportedly demanded a settlement to stop the release of stolen student information such as personal details and private messages. For many students, the disruption derailed classes and assignments amid uncertainty about their data.
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Meesho is pushing deeper into AI-led software development, with CEO Vidit Aatrey saying over 70% of the company’s code is now AI-generated. The ecommerce platform says this shift helps it release products faster while improving reliability. Meesho hasn’t disclosed the specific tools or how AI code is governed and reviewed, signaling a broader startup trend toward AI as an internal operating layer.
India’s IT hiring is undergoing a structural shift toward value-led recruitment, not mass hiring. A foundit IT Trends report says AI/ML, cloud, and cybersecurity now drive about 65% of tech demand. Skill-based hiring is set to exceed 70% adoption, with Tier II cities nearing 40% of incremental roles. GCCs will add around 132,000 jobs in 2026.
Apple and Meta are contesting Canada’s Bill C-22, saying it could compel them to undermine device and service encryption. Law enforcement argues the measure would improve investigative access, but the companies warn it may effectively mandate backdoors or enable government spyware, risking long-term harm to everyday users’ security and privacy.
Chiratae Ventures will commit $10 million to five deeptech startups chosen from its inaugural Sonic DeepTech programme. The firm says up to $2 million in seed funding comes with unusually fast decision timelines as short as 48 hours. Focus areas range from energy and robotics to applied AI, bio health and space technologies, with select companies spanning nanosatellite infrastructure to serverless data lakes and audio-visual AI agents.
Home-services startup Pronto has extended its Series B by $20 million, bringing total funding to $45 million and pushing valuation to $200 million within about a month. Led by Lachy Groom, the round aims to deepen city presence and expand categories like car washing and gardening, while piloting home-cook services in Bengaluru. The company reports 26,000 bookings daily, 70%+ worker retention, and rising workforce utilisation.
Pronto, India’s instant household services platform, has closed a $45 million Series B at a $200 million valuation—doubling its value in roughly a month. Led by Lachy Groom with a $20 million extension, the funding follows rapid traction: daily bookings rose to 26,000 and the platform runs at over 65% utilization with a rapidly expanding pool of trained, verified pros.
India’s spiritual economy is shifting online as FaithTech platforms offer rituals, offerings, guidance, and devotional commerce on demand. Demand surged during and after COVID-19 when worship access was limited and overseas Indians sought remote connections. With payments infrastructure and rising interest in AI-driven spirituality, faith is becoming individual, flexible, and increasingly subscription-led.
President Donald Trump has set a July 4 deadline for the European Union to meet its trade deal commitments. If the EU fails to comply, the US threatens much higher tariffs on a wide range of EU goods, including cars. Ursula von der Leyen said discussions are underway and the EU remains committed to implementing the deal.
Fortnite players reported major login and matchmaking disruptions on May 7, with outages spanning multiple regions including the US, UK, and Europe. Epic Games confirmed the problem affects both Fortnite and Fall Guys, but has not provided a clear timeline for restoration. The company says it is investigating and working to bring services back online.
Nifty midcap indices surged to fresh record highs on Thursday, driven by strong earnings and steady retail inflows alongside bargain buying. Since the US-Iran ceasefire announcement a month ago, midcap and smallcap stocks have outperformed large caps sharply. Analysts warn the rally may pause soon, as foreign investors continue selling large-cap shares.
Asian markets pulled back from record highs as Middle East tensions escalated, sending crude oil higher and reviving worries about energy supply. The Strait of Hormuz saw an exchange after Iranian-linked attacks, prompting a US response, while President Trump delivered a sharp warning. Traders are watching de-escalation closely, even as the AI trade remains in focus.
Retail investors trimmed holdings across most BSE 500 companies in the March quarter, mirroring market weakness driven by global uncertainty. While retail pulled back, foreign investors and domestic funds increased stakes in multiple firms. Promoters also boosted shareholding at lower prices, and foreign portfolio investor ownership in Indian companies continued to decline.
President Donald Trump confirmed that three US destroyers transited the Strait of Hormuz even after an exchange of fire with Iranian forces. The US Navy reportedly opened fire after an incident involving an Iranian oil tanker, while Iran’s IRGC claimed it targeted the American vessels. Trump said Iranian boats were destroyed and missiles intercepted.
The Indian rupee strengthened by 36 paise to the dollar on Thursday, extending a sharp two-day rebound. Traders linked the move to crude oil falling below $100 a barrel, which encouraged them to unwind short-rupee positions. State-run banks were also seen selling dollars, likely for exporters, as the currency approached 94.
Razorpay is scaling back its offline expansion after sluggish growth in that vertical. Instead, it’s concentrating on merchants that need both online and offline payment solutions following its Ezetap acquisition. The move supports Razorpay’s IPO preparations and a focus on strengthening a more profitable core business rather than expanding field operations aggressively.
Actor Lisa Ray is tackling the stigma around menopause after her cancer treatment pushed her into early menopause, now backing NuHer, a midlife clinic offering integrated, science-backed support. Meanwhile, Proshort’s founder is turning generative AI into a real-time sales “super coach.” The startup claims it crossed $1M ARR within a year by analyzing sales conversations and workflows instantly.
Nvidia’s stock slide is puzzling investors after the AI chip giant announced a major equity investment in Corning. CEO Jensen Huang later said Nvidia made a multi-billion-dollar prepayment that wasn’t disclosed when the Corning investment was first announced. The gap between announcement details and later clarification has fueled uncertainty about costs and timing.
Hexaware Technologies reported Q1 CY26 net profit up 7.5% to about Rs 351.6 crore, beating street estimates. Revenue climbed 12.6% year-on-year to Rs 3,613 crore, led by strong demand in Europe and the banking sector. The company also reiterated its full-year revenue growth guidance of 7.6%.
A new report revisits a disputed note connected to Jeffrey Epstein and Nicholas Tartaglione. Tartaglione is said to have handed the note to his legal team, yet its existence was scarcely mentioned in later years, including after Epstein’s death. The development reignites questions about what was documented, when, and why it remained largely underreported.
Coforge CEO Sudhir Singh says demand for technology services isn’t weakening but evolving, fueled by fresh value pools. He argues that companies engineering measurable business outcomes—especially via AI-led modernization and governance—will keep winning. Singh also downplays concerns about AI firms moving into services, saying they’ll act as specialists within a still-robust market.
A U.S. trade court ruled President Trump’s 10% global tariffs are unjustified under a decades-old law, blocking them for two importers and Washington state. Other businesses still face the duties while appeals play out. The ruling adds pressure to Trump’s tariff approach as trade talks with China loom, though the tariffs are expected to expire in July.
NFL schedule release 2026 is already drawing buzz because the league could stage a near-immediate Super Bowl 60 rematch. With New England set to visit Seattle, fans are watching for a repeat of last season’s pattern, when the Super Bowl 59 rematch between Philadelphia and Kansas City kicked off in Week 2.
India’s digital payments ecosystem is feeling a pinch as a shortage of new point-of-sale terminals worsens. Disruptions to imports from China and the ongoing West Asia crisis have pushed PoS device prices up by roughly 15 to 20 percent. Payment firms are responding by extending terminal lifecycles and making tighter use of existing assets.
Britannia Industries said its March quarter profit jumped 22% to ₹680 crore, supported by steady biscuit and snack demand. Revenue rose 7.1% to ₹4,686 crore even as West Asia conflict disruptions affected parts of its supply chain and international business. The company is working to manage any cost inflation while monitoring the situation closely.
Foreign investors extended their sell-off in Indian equities into the second half of April, with financials taking the hardest hit. The outflows were linked to the sector’s large weight in markets and rising inflation concerns. Meanwhile, power and capital goods saw notable inflows, supported by strong demand and supportive global trends.
Iran’s top joint military command accuses the United States of violating a ceasefire in the Strait of Hormuz. Tehran alleges U.S. forces targeted an Iranian oil tanker and another vessel, and carried out air attacks on civilian areas on Qeshm Island. The dispute comes as Donald Trump says the ceasefire is still in effect.
Ramp is reportedly in talks to raise another $750 million at a pre-money valuation topping $40 billion, only six months after it reached a $32 billion valuation in its last funding round. If confirmed, the deal would mark a sharp step up in expectations for the fintech firm’s growth trajectory.
Tata Motors has launched a voluntary retirement scheme after union demands, allowing eligible permanent employees aged 40 to 55 to opt out. Around 300 staff have reportedly enrolled so far. The VRS offers flexible compensation choices and medical benefits, as the auto maker looks to streamline operations and reduce its manufacturing footprint.
The ShinyHunters hacking group says it will release stolen Canvas data if schools don’t contact it by May 12. Its message reportedly included a link to a list of schools that the group claims it breached through Canvas. The warning raises urgent questions about the extent of the incident and when services and affected data will be secured.
Indian travellers are facing a summer airfare shock, with many routes seeing 40-50% higher prices. The jump is being attributed to rising jet fuel costs and tighter seat availability. Travellers are adjusting plans by shortening international trips to nearby destinations like Thailand and Vietnam, or switching to cooler Indian hill stations to beat the heat.
OpenAI has launched new voice intelligence features in its API, designed to help systems understand and respond to spoken input more effectively. While the company highlights practical uses like customer service, it says the same capabilities can support broader applications across fields such as education and creator platforms.
Commerce and Industry Minister Piyush Goyal chaired a meeting focused on improving farmers’ quality of life, expanding India’s standing in the global agriculture market, and deepening agricultural cooperation with African nations. The discussion centered on new initiatives meant to raise outcomes for farmers while strengthening partnerships that could open fresh opportunities in international agri trade and knowledge exchange.
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