Stories from earlier this week and beyond.
TVK leader Vijay has reportedly reached out to multiple parties after his outfit’s landslide win on May 4 made it the single largest force in Tamil Nadu, winning 108 seats. With the 118-seat majority still out of reach, the letters and outreach signal a push to form the next government through coalition math and negotiations ahead of the oath-taking day.
Armory, founded by IIT Bombay alumnus Amardeep Singh, has secured a landmark INR 100 crore Ministry of Defence order for its AI-powered SURGE counter-drone system. Selected after field evaluations, the tech uses proprietary Samaritan OS to detect, deny, and neutralise rogue drones with real-time adaptation. Built fast in 14 months and backed by a Manesar R&D centre, Armory is also expanding into hard-kill C-UAS.
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A social activist has threatened to lodge a complaint over Vaibhav Sooryavanshi’s participation in IPL 2026, alleging the Rajasthan Royals may have violated age-related rules. The allegation centers on whether permitting a 15-year-old to play in the cash-rich league flouts IPL regulations, potentially drawing scrutiny from the league’s governing council and franchise officials.
ChatGPT and Google Gemini are launching big-budget TV and billboard campaigns in India, positioning AI as a solution for routine, everyday problems. The goal goes beyond awareness: these firms want to build a new user habit so people rely on AI for common tasks. It is a race to define what “AI usefulness” means before competitors do.
Bengaluru fabless semiconductor startup BigEndian has raised $6 million in pre-Series A funding led by IAN Alpha Fund. The company says it has completed tape-out of its first commercial SoC, cutting major execution risk in moving from design to manufacturing. Funds will support SoC commercialization, product engineering, and deeper partnerships across foundries, IP and OEMs, targeting secure edge and Vision AI architectures.
Marc Lore’s company Wonder is pitching “restaurant factories” powered by AI and its robotic kitchens. The idea: with a simple prompt, people could create a virtual food brand and bring it to life using automated production. If it works at scale, it could dramatically lower the barrier to opening a restaurant and change who controls food creation.
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Angelina Jolie has won a key court ruling in the long-running Chateau Miraval dispute with Brad Pitt. A Los Angeles Superior Court judge denied Pitt’s bid to obtain access to private emails connected to the winery’s sale process. The decision adds another twist to their co-ownership fallout over the French property, keeping the legal battle far from over.
Larsen & Toubro is navigating near-term pressure while positioning for long-term growth through technology-led ventures. The firm expects improvement in the second half of the year and outlined a five-year plan with heavy investment in semiconductors and data centres. For execution and expansion, it is also leaning on international opportunities, notably the Middle East, to strengthen its order book.
The government has kicked off the National Household Income Survey NHIS 2026, led by the NSO under MoSPI, with field operations starting this April. The survey will gather earnings data from 4.5 lakh families to better study income inequality, improve the CPI, and measure how effectively welfare schemes are reaching people.
Apna Mart, an online grocery delivery startup, has cut its workforce by 10% as it integrates artificial intelligence into its operations. The company is also relocating its headquarters from Bengaluru to Gurugram, saying the restructuring will help align teams with its core markets. Employees impacted will receive severance packages as the change takes effect.
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A decade after Nexa’s launch, Maruti Suzuki is gearing up for Nexa 2.0 to pull in aspirational younger buyers. But Nexa’s premium positioning is being stress tested by capacity constraints and heavy dependence on a handful of models. The big question: has Nexa built a durable brand identity—or merely upgraded the showroom experience while scaling stays tight.
In a dramatic post-poll shift in Tamil Nadu, Congress has launched a hard attack on its ally DMK, alleging the party’s mandate was rejected by the people. Party leaders framed DMK losses as “collateral damage,” and hinted at a rethink on backing the ruling alliance amid a fractured verdict. The move could shake the state’s next political calculations.
Indian markets gained momentum on Wednesday, with the BSE Sensex rising nearly 300 points to 77,315 and the Nifty 50 holding above 24,100. “Risk-on” sentiment returned as crude oil prices fell sharply, reportedly after U.S. President Donald Trump signaled potential progress toward peace with Iran. Banking and IT led sectoral strength, lifting investor confidence after recent volatility.
The Union Cabinet has approved two semiconductor projects in Gujarat under ISM 1.0, including India’s first commercial Mini/Micro-LED display facility in Dholera and an OSAT packaging unit in Surat. Together they carry an investment of about Rs 3,936 crore, aiming to strengthen India’s chip ecosystem, expand manufacturing capabilities, and create over 2,200 jobs.
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A new study introduces “CRASH Clock,” estimating how quickly satellites could collide if they lose control—possibly within days. Researchers say solar storms can knock out communications, leaving spacecraft unable to maneuver. With more satellites than ever in orbit, including thousands of avoidance moves by Starlink, the paper underscores an escalating collision threat as launches surge.
Tamil Nadu’s election result upends the state’s long two-party pattern as Actor Vijay’s TVK wins big. Within the AIADMK, “upset” MLAs are reportedly preparing to meet CV Shanmugam, even as DMK reacts sharply over Congress support for TVK. Meanwhile, Governor Rajendra Arlekar accepts DMK’s resignation and Vijay seeks a meeting, leaving government formation unclear.
Coinbase is cutting about 14% of its global workforce, affecting roughly 700 employees, citing tough market conditions and the shift toward an AI-first operation. The company says severance will be provided, including tailored provisions for international staff and employees on work visas, as it restructures to stay lean and move faster with automation.
Quick-service platforms such as Snabbit and Pronto are pulling women from the informal domestic economy by offering flexible shifts and fixed monthly payouts that beat earlier, uncertain earnings. Backed by venture capital, they aim to formalize household work at scale, but the model still struggles with ensuring worker safety and long-term stability for employees.
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India’s cabinet has approved an emergency credit guarantee program worth 181 billion rupees (about $1.9 billion) to support businesses facing liquidity stress linked to the Middle East crisis. The measure is designed to help firms, particularly smaller enterprises, keep operations running when cash flow is disrupted, by easing access to credit through guarantees.
A deadly fire at the Arghavan shopping center in Andisheh, near Iran’s capital, has killed eight people and injured 36 others, local reports say. The blaze broke out Tuesday and engulfed a multistory building, with thick smoke hampering visibility. Firefighters worked through the inferno while authorities investigate what caused the tragedy.
Anthropic has rolled out 10 pre-built AI agents powered by Claude for banking teams, focused on the day-to-day grind of finance work. The agents can support research, compliance checks, pitch decks, and ledger reconciliation while integrating with Microsoft Excel, PowerPoint, and Word. Anthropic says human oversight remains central as banks test reduced manual effort.
The NIA is reportedly probing a strong cross-border angle behind the Amritsar and Jalandhar twin blasts in Punjab. Sources claim the attacks were carried out by locally radicalised individuals, but allegedly backed, funded, and directed by handlers operating from abroad on instructions attributed to Pakistan’s ISI. Investigators are working to connect networks and trace communications and funding trails.
After CSK crushed DC at the Capitals home ground, captain Axar Patel admitted their playoff hopes have become extremely difficult with only five IPL 2026 matches left. Speaking on the qualification scenario, he stressed that DC can’t afford anything less than winning all five games to keep their path alive as the points race tightens quickly.
Bagmane Prime Office REIT IPO has reached 83% subscription by Day 2, supported by steady institutional and investor interest. The offer seeks to raise Rs 3,405 crore and is seeing a modest grey market premium. With assets backed by high occupancy and strong tenant stability, the REIT is positioned to deliver clearer yield visibility for investors tracking the listing prospects.
Samsung Electronics’ climb to the $1 trillion club is being powered by AI-led demand for memory chips, lifting earnings and sentiment. The semiconductor unit is still the core growth engine despite global supply constraints. Yet smartphones remain a drag, and analysts say Samsung must keep investing to expand AI chip capacity to sustain leadership long term.
Veteran Tamil film producer RB Choudary, 76, died in a road accident near Joontha village in Rajasthan on Tuesday, May 5. Police said he was returning with his nephew after attending a wedding in Lilamba village. His mortal remains will be brought for antim darshan at his Chennai residence today.
With no Powerball winner in the prior draw, the estimated jackpot for May 6 has climbed to about $30 million. Ticket holders can either take a 30-year annuity or opt for an estimated lump-sum of around $13.5 million before taxes. Despite slim odds, Powerball remains widely played across most US states and territories.
Tamil Nadu’s AIADMK is in turmoil as talks intensify over the next 48 hours. Reports say more than two-thirds of its MLAs are backing CV Shanmugam’s outreach toward actor-turned-politician Vijay’s TVK, while party chief Edappadi K Palaniswami digs in. The development signals deep cracks inside AIADMK leadership as alliance choices reshape the race.
The US has launched “Project Freedom” to reopen the Strait of Hormuz, with Secretary of State Marco Rubio saying America is the only country capable of ensuring safe commercial vessel passage. The move follows requests from multiple nations dealing with disruptions and aims to restore normal maritime operations while countering Iran’s actions that affect global trade and safety.
Market expert Rajeev Agrawal says global equity flows are increasingly concentrated in AI-related winners, notably semiconductor-heavy economies like Korea, while India’s exposure remains limited. He also flags the impact of higher crude oil and West Asia geopolitical tensions, though he expects gradual easing. For investors, he prefers domestic-oriented Indian cyclicals, especially renewable energy and financials, for steadier returns.
A shooting in a Texas shopping center left two people dead and three injured. Police say the 69-year-old suspect, Seung Han Ho, opened fire and that he was familiar with the victims. Investigators are still piecing together the motive, while authorities work to understand how a personal connection may have shaped the tragedy.
Punjab National Bank shares jumped about 4% after its Q4 FY26 net profit rose 14% and the bank declared a Rs 3 per equity dividend. Brokerages largely kept “Buy” calls, but several adjusted—often reduced—target prices, signaling caution over what the next earnings run could look like despite the strong quarter.
Gold prices in India are holding steady around Rs 1.49 lakh per 10 grams, while silver is in a more unstable mood near Rs 2.4 lakh per kg on MCX. Mixed global cues, inflation and oil concerns, and geopolitical tensions are shaping both metals, with silver attempting recovery after recent sharp drops.
As India’s heatwaves intensify, gig delivery platforms including Amazon, Zomato, Blinkit, Swiggy, BigBasket and Flipkart are rolling out tech-driven and on-ground heat safety measures. Companies are expanding insurance coverage, adding SOS and weather alerts in apps, installing cooling infrastructure in dark stores, and offering cooling vests, doctor consultations and rest stops. A union is now pushing for enforceable legal protections.
Indian startup funding heats up as legal AI platform Jurisphere raises ₹21 crore and luxury innerwear brand MHYTH secures ₹5 crore. Bengaluru’s Vobiz.ai bags ₹8.4 crore, while dairy major Milky Mist pulls in ₹482 crore pre-IPO funding. In business news, Dream Sports launches SEBI-registered stock broking platform Dream Street, adding trading features and an AI assistant to capture new investors.
Defence tech startup Armory has secured an INR 100 crore order from India’s Ministry of Defence for its AI-powered SURGE counter-unmanned aircraft system. After field trials, SURGE will be produced and deployed to detect, identify and neutralise rogue drones using real-time adaptive denial against non-standard frequencies. The deal reflects a push for faster, outcome-driven procurement and domestic innovation.
DMK hit out at Congress for supporting actor Vijay’s TVK to form the government in Tamil Nadu, calling it a “backstab” to the people and their mandate. DMK spokesperson Saravanan Annadurai questioned the alliance’s numbers and alleged Congress may be seeking cabinet berths. AIADMK too has decided to support TVK, intensifying the political fight.
Reliance Industries is ramping LPG output by more than 100% after Middle East conflict disrupted key import routes, worsening India’s fuel shortage. The shift is reshaping refinery operations at Jamnagar, where the alkylation plant is running at minimal capacity and exports may take a hit. While tighter global markets could lift margins, investors watch for earnings pressure and risks from ongoing instability.
Porsche India, part of Škoda Auto Volkswagen India Private Limited, has appointed Ashutosh Dixit as Brand Director with immediate effect. The role follows Manolito Vujicic’s exit from the Group. Dixit brings 28 years in the automotive industry and nearly 20 years with the Volkswagen Group, including key work in Porsche’s Middle East and Africa market development for India.
Cognizant is reportedly evaluating a major workforce reduction that could affect between 12,000 and 15,000 jobs as it accelerates an AI-led transformation. The possible cuts reflect how automation and AI-driven operations are reshaping IT services, pushing firms toward restructuring and cost optimization while redefining what human roles are still needed.
Luxury innerwear and lifestyle brand MHYTH has raised INR 5 crore in pre-seed funding led by a Mumbai single-family office and backed by prior angel interest from Nine Rivers Capital. Founded by Mitali Rai, it operates an automation-led, asset-light model across Bengaluru and New Delhi, aiming to beat China and Europe reliance with low-inventory, high-rotation product delivery.
India’s services sector expanded in April, accelerating after a weaker March, driven by resilient domestic demand. While new business picked up—led by consumer services—international order growth eased, dimming future sentiment amid Middle East uncertainties. Operating expenses rose more slowly, and employment expanded at the strongest pace in ten months, signaling hiring momentum even as global demand softens.
The US and its Gulf allies have tabled a UN resolution warning Iran of sanctions unless it halts attacks on ships in the Strait of Hormuz. The proposal also demands Iran stop illegal tolls and disclose mine locations, while emphasizing freedom of navigation and calling for a humanitarian corridor to move aid safely.
Emcure Pharmaceuticals is accelerating domestic expansion while scaling R&D and manufacturing capacity. The company is also scouting acquisition opportunities both in India and abroad, aiming to add new products to fuel growth. A key driver is its partnership with Novo Nordisk for GLP-1 therapies, alongside a pipeline of complex injectables poised to support momentum ahead.
Global bond traders are increasingly pricing in a potential Federal Reserve rate hike before any cuts, according to derivatives markets showing more than a 50% probability by April. The shift is linked to heightened policy uncertainty, greater hedging demand, and leadership transition risks, with Kevin Warsh expected to take charge amid pressure on the Fed to lower rates.
Vietnamese President To Lam’s visit to India is expected to center on deepening defense ties, with a potential BrahMos missile purchase reportedly high on the agenda. India sees Vietnam as vital to Indo-Pacific stability as China’s influence grows. Officials may announce cooperation, but sources indicate no weapons deal signing is expected during the visit.
Iran has rolled out a new maritime traffic system for the Strait of Hormuz, requiring ships to obtain prior authorization before transiting the strategic waterway. Iran says it is a sovereign governance framework, with electronic instructions issued to set passage rules. The IRGC Navy has also warned vessels to follow designated corridor guidance.
Rahul Gandhi has accused the BJP of winning seats through alleged vote theft and claimed that many BJP MPs and MLAs are “infiltrators.” He further alleged the government is “remotely controlled” and that those in power fear the truth. The remarks come after BJP victories in West Bengal and Assam and Congress’s defeat in Haryana.
Google has begun rolling out the May 2026 Android 16 patch to Pixel devices, build CP1A.260505.005. The update targets real-world annoyances including wireless charging slowdowns, camera freezes, display flickering, and keyboard misalignment. While it’s a fixes-first release, Pixel 10 users should pay attention because a bootloader change may stop them from rolling back to older builds.
On demand house-help platforms like Snabbit, Pronto and Urban Company’s Insta Help are struggling to scale as gig worker supply falls during summer 2026. Mumbai, Bengaluru and NCR report fewer available slots, forcing cancellations and rescheduling. Demand is climbing fast due to dual-income households and app based hiring, but workers leave cities for harvesting and are harder to retain.
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