Stories from earlier this week and beyond.
Chief Economic Advisor V Anantha Nageswaran asked large companies to release working capital to MSMEs without delays. He said quicker payments can ease MSMEs’ working-capital crunch and reduce their funding costs, which often climb when invoices stretch. The appeal targets payment timelines as a lever to improve liquidity across the MSME ecosystem.
The US dollar strengthened on Tuesday as stalled Middle East ceasefire talks reduced optimism and lifted oil prices toward $105. Investors moved toward safer assets and warned that persistent energy shocks could keep inflation pressure elevated, forcing interest rates to stay higher for longer. Traders are now watching whether geopolitical tensions intensify further.
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Bitcoin briefly surged above $82,000 before slipping below $81,000 amid rising geopolitical tensions after President Donald Trump rejected Iran’s peace proposal. Even with the volatility, BTC reportedly held key support levels as institutional investors continued accumulating. ETF inflows and steady institutional demand pointed to underlying support, while altcoins saw mixed moves.
Rahul Dravid has taken on a new role as owner of Dublin Guardians in the European T20 League, pledging to stay out of cricketing decision making. He says Ravichandran Ashwin will lead the team with full autonomy, while Dravid focuses on franchise operations off the field. The move signals a hands off model for team strategy and on field calls.
South Korea is debating an “AI dividend,” a proposal to distribute some of the wealth generated by artificial intelligence. The idea sparked market buzz after a government official floated sharing AI profits amid soaring earnings from major chip makers like Samsung and SK Hynix. Supporters argue it can curb wealth concentration, while critics worry it could unsettle markets and business incentives.
Summer workouts often feel tougher, but pushing beyond safe limits in high heat can backfire. Experts caution that excessive training can worsen dehydration and prolong heat exposure, raising the risk of heat exhaustion. Recovery also suffers when the body is overworked, so even consistent fitness routines may become harmful if intensity isn’t adjusted for the weather.
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Nearly three months after 84-year-old Nancy Guthrie vanished from her Tucson home, the case has surpassed 100 days without arrests. Authorities believe she was abducted on January 31, despite rewards and many reported leads. The Pima County Sheriff’s Department has offered few official details, even as investigators continue advanced DNA and video analysis, fueling fresh speculation from an ex-FBI agent.
Elon Musk’s Grok chatbot is losing ground as rivals like ChatGPT, Claude, and Google’s Gemini accelerate. New figures show Grok downloads down nearly 60% since January and paid adoption hovering at just 0.174%. The “anti-woke” bot has also faced criticism after deepfake controversies and struggles to win enterprise customers.
The CBI has taken over the investigation into the murder of Chandranath Rath, an aide to West Bengal Chief Minister Suvendu Adhikari. State police had earlier arrested three suspects from Uttar Pradesh and Bihar. Rath was shot dead in Madhyamgram on May 6. The federal agency’s takeover came after a request from the state government and a transfer of the case.
Uber CEO Dara Khosrowshahi has begun a five-day visit to India, meeting senior ministers including Finance Minister Nirmala Sitharaman. Uber’s pitch centers on strategic investments and platform growth, citing a quadrupling of earners on its platform since 2022. The trip comes as competition intensifies, with Uber leaning into premium offerings and support for fleet operators.
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India’s banking stocks took a sharp hit on Tuesday as the Nifty Bank index fell about 500 points, driven by a record low rupee and surging oil prices. With Brent crude crossing $105, investors are recalculating inflation risks and credit growth expectations, increasingly pricing in a delay to interest rate cuts. Banks like ICICI and HDFC led the decline.
Gaurik Fashions, a retailer operating stores for Skechers, Guess and Bugatti, has filed draft IPO papers with SEBI. The proposed raise includes a fresh issue of 62 lakh shares and an offer for sale of 8 lakh shares by Aries Opportunities Fund. The money will support retail expansion with new stores and inventory funding across subsidiaries.
The Madras High Court issued an interim order restraining TVK MLA R Srinivasa Sethupathi from voting in the TN Legislative Assembly, including during confidence motions. The MLA’s Tirupattur win was decided by just one vote, prompting a DMK petition seeking a recount. With a floor test expected soon, the order could reshape the government’s immediate challenge.
Jennifer Harmon, known for playing Cathy on Agnes Nixon’s One Life to Live and for her lead role in How to Survive a Marriage, has died at 82. Her family announced she passed away on May 9. Harmon worked on One Life to Live from 1976 to 1978 and earned a Daytime Emmy nomination during that run.
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Japan’s 10-year government bond yield jumped to a 29-year high on Tuesday, even as the latest auction stayed stable. Traders are now fixated on U.S. Treasury Secretary Scott Bessent’s remarks during his Tokyo visit, worried they could bring renewed pressure on Japan’s monetary policy and currency. Yields rose across multiple maturities as investors repositioned.
An Etihad Airways flight heading to Abu Dhabi with about 280 passengers aborted takeoff from Chennai on Monday after a fire was detected on its left wing. The crew halted departure, and passengers were safely disembarked with no reported injuries. Airport fire services extinguished the blaze quickly, and the flight was later cancelled.
Ranveer Singh has acquired the adaptation rights to Amish Tripathi’s Shiva trilogy, The Immortals of Meluha, under his production banner. The plan: build it into a long-term cinematic universe with a trilogy of films. Screenplay and world-building are in progress, and the first movie is slated to arrive in 2028, setting the stage for an expansive saga.
L&T Semiconductor Technologies (LTSCT) has signed a multiyear licensing agreement with Synopsys to adopt AI-enabled multiphysics simulation tools for next-generation intelligent power modules. The plan is to optimize designs across chip, package, and system levels, improving reliability and cutting development cycles while supporting higher voltage scaling. The collaboration targets sectors like electric mobility, renewables, and industrial automation.
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A massive explosion tore through a crowded market in Pakistan’s Lakki Marwat on Tuesday, killing at least seven people and injuring around 18, police officials said. The death toll has since reportedly risen to 10, including several Pakistani security personnel, among them a senior ISI officer and two police officers. Authorities have sealed the area and started an investigation.
A 15-year-old boy in Chhattisgarh’s Janjgir-Champa district died after allegedly eating contaminated watermelon, while three other children were hospitalized with vomiting and diarrhoea. Authorities suspect food poisoning from the fruit, which was reportedly cut hours before consumption. Post-mortem and lab tests are underway to confirm the cause and trace potential contamination.
JCD Prabhakar has been unanimously elected as Speaker of the Tamil Nadu Assembly, with no one filing opposition. In line with tradition, leaders escorted him to the Speaker’s chair. He then presided over the election of Deputy Speaker M Ravisankar, who also won unopposed. With both roles settled, Assembly proceedings will now be run by Prabhakar.
With the Iran war raising uncertainty, travelers are reshaping summer plans. Shorter European trips are trending as rising airfares and conflict concerns push people to book later and choose flexibility. Airlines also face higher fuel costs, while overall travel demand stays strong but destinations shift toward safer locations. Rail travel is climbing alongside these changes.
China’s green tech giants are capitalizing on a shifting energy landscape after the Iran war triggered fuel cost shocks. Firms such as Jinko Solar, Chery and BYD report rising demand for EVs, batteries, and solar panels as consumers and businesses in import-dependent markets seek cheaper, homegrown alternatives to expensive fuel.
JPMorgan warns that worsening petroleum coke shortages could disrupt aluminium production worldwide, not just in the Gulf. The bank says a prolonged closure of the Strait of Hormuz could impair supply of the critical smelting fuel, pushing some producers toward operational constraints or production cuts. Supply tightness is already visible, with a major deficit expected by 2026.
Amid heightened tensions in West Asia and Prime Minister Modi’s appeal to conserve petrol and diesel, Oil Minister Hardeep Singh Puri dismissed any plans for a lockdown. He said LPG production has been boosted and urged people to cut fuel and foreign exchange spending—through practices like work from home and reducing costly travel and gold imports—while promoting self-reliance.
The Nifty IT index fell sharply on Tuesday, dropping 3.58% to around 28,358 points, as the Indian rupee slid to an all-time low of 95.32 against the dollar. Foreign fund outflows and a jump in global crude prices to about $105 fueled margin fears, pulling down major names like TCS and Infosys during mid-day trade.
VFS Global has opened 12 Premium Application Centres in India to meet growing demand for UK visas. The centres aim to make visa submission more convenient with dedicated assistance and shorter waiting times. Services are designed for different traveller segments and are available as an optional, paid add-on, not a standard requirement.
Tamil Nadu Chief Minister C. Joseph Vijay turned the Speaker election into a story, mixing history and humour in the Assembly. During the election of JCD Prabhakar as Speaker, he recalled a British parliamentary tradition in which Speakers were once reluctant to accept the post due to real dangers. He also explained why opposition leaders ceremonially escort the new Speaker to the chair.
Analyst Sandip Sabharwal warns that foreign selling is driving a currency-stock spiral even as domestic earnings hold up. Strong corporate results and steady SIP inflows are acting as anchors, but retail trading has cooled. He suggests patient investors could benefit from a rebound once global sentiment improves, flagging Indian Hotels as a long-term opportunity.
Indian outbound travel could face a temporary slowdown as currency pressure makes overseas trips pricier and fresh government messaging adds to uncertainty. Rather than any new restrictions, analysts expect travellers to change habits—possibly choosing cheaper ASEAN destinations or more domestic trips. Meanwhile, AI-powered tools may upend travel aggregators, pushing consumers toward direct bookings.
Meta plans to lay off about 8,000 employees, roughly 10% of its global workforce, on May 20. The company says it will provide a “generous severance package” including 16 weeks of base pay plus two additional weeks for every year of employment. For US employees, Meta will also cover COBRA health insurance costs for up to 18 months for workers and their families.
Vodafone Idea shares slid nearly 4% after the company said it had received no communication from Vodafone Group about a reported proposal to transfer part of its stake. The move came right after an 8% surge fueled by media reports that Vodafone Plc could support Vodafone Idea’s balance sheet and fundraising efforts through such a transfer.
Bengaluru startup SwishX, backed by $2.2 million seed funding, has launched what it calls the world’s first agentic AI platform built for pharma and medtech companies. The system targets faster sales, marketing and distribution outcomes, including AI evaluation of thousands of tenders, analysis of 500+ page documents, and proposal drafting in minutes—aiming to cut decision and execution delays by up to 30%.
A high-stakes courtroom battle pits Elon Musk against OpenAI CEO Sam Altman, turning leadership scrutiny into a reputational risk. Testimony reportedly raises allegations of dishonesty and pushback against oversight, with potential consequences for Altman’s future. The trial also threatens to cloud the AI industry’s public image, especially as major IPO plans loom.
Groww stock slid as much as 7% to an intraday low of ₹180.15 after reports said early investors could offload shares worth up to ₹4,750 crore via block deals. The move coincides with the expiry of its six-month post-IPO lock-in, freeing nearly 418.2 crore shares to trade. Despite the dip, the company recently posted sharp profit and revenue growth.
The mutual fund SIP stoppage ratio remained above 100% for a second month in April, even as investors poured in a record Rs 31,115 crore. While SIP inflows fell 3% month-on-month, industry commentary points to steady participation, higher folios, and strong SIP assets—suggesting growing trust in long-term, goal-based investing despite churn.
The UK’s Immigration Advice Authority has rolled out a nationwide campaign to warn people looking for immigration help. It urges migrants to verify that any adviser is officially regulated before handing over documents or money. The effort targets fraud and confusion, using the slogan “Before you trust them, check them,” and points users to a free online Adviser Register.
Global markets are holding up as investors increasingly prioritize AI and technology rather than escalating West Asia tensions. The prevailing view is that any conflict will be brief, letting capital return to future tech growth—especially in the US and Europe. Attention is also turning to a potential Trump-Xi meeting that could reshape US-China tech rivalry and investment expectations.
Gold and silver are slipping as markets recalibrate interest-rate expectations after U.S. inflation data and shifting views on rate cuts. Analysts cite a firmer dollar and higher oil prices as additional headwinds, while Middle East tensions keep sentiment volatile. Traders are now watching central bank signals for the next move, with some forecasting deeper drops.
Security personnel at the new Assam government’s swearing-in venue apprehended a man during routine checks after live bullets were discovered. He was detained for questioning, though no weapons were recovered at the scene. Officials say the timing—just before the oath-taking—has heightened concerns, and an investigation is underway to determine how the bullets were brought in and whether there is any security threat.
Virtual restaurant operator Dil Foods has raised ₹72 crore in a Series B led by Bikaji Foods Family Office, planning to expand into more Tier I and II cities and introduce additional regional cuisine. The Bengaluru startup runs nine brands across 340 pincodes and targets 600 locations by FY28, partnering with restaurant owners that use Dil Foods supplies to fulfill orders on Swiggy and Zomato.
The Indian rupee hit a fresh record low of 95.32 against the US dollar in early Tuesday trade, after opening at 95.10. The slide is being driven by a jump in global Brent crude prices, now above $105 per barrel, alongside continued selling by foreign portfolio investors. Rising energy costs are adding fresh pressure on the currency.
Russia resumed strikes on Ukraine after a three-day truce expired on Tuesday, Ukrainian authorities said. The attacks included drone strikes on the capital and casualties in eastern Ukraine, with one death reported in Dnipropetrovsk and additional injuries in the region. The renewed violence follows the end of the temporary pause in fighting.
Yaoning “Mike” Sun, a 65-year-old political strategist, was sentenced to 48 months in federal prison for acting as an undisclosed agent of the People’s Republic of China. Prosecutors said he took direction from PRC officials between 2022 and 2024, influencing local politics, spreading propaganda, gathering intelligence, and working alongside others facing related charges.
Rahul Dravid has become the owner of the Dublin franchise in the European T20 Premier League, a new competition set to begin in 2026. The league will launch with six teams, and Dravid’s move signals a major investment in European cricket’s next big push. The Dublin franchise is now positioned for a high-profile inaugural season.
Canara Bank shares rose more than 2% after its Q4FY26 results. Consolidated net profit fell to Rs 4,506 crore, down 10% year-on-year and 13% sequentially. The optimism came from net interest income increasing 4% to Rs 9,808 crore, offsetting the profit decline and prompting analyst commentary.
The Executive Centre (TEC) is boosting its flexible workspace presence by leasing 465,000 sq ft across Bengaluru, Hyderabad, and Chennai, adding more than 6,000 workstations. The move targets rising demand from Global Capability Centers and multinational corporations, highlighting how South India’s office market is increasingly shifting toward scalable, flexible setups rather than long, fixed leases.
Sectoral and thematic mutual fund inflows fell 28% in April, a sharp dip that analysts link to investors rotating out after chasing “hot” themes. While interest persists in areas like defence and manufacturing, experts advise leaning on diversified funds for steadier long-term returns. Existing SIPs can continue, but with controlled exposure.
Delhi Capitals beat Punjab Kings by three wickets in IPL 2026’s 55th match at Dharamsala on May 11, pulling their playoff hopes closer. Axar Patel’s side chased down a target in a tense finish, with DC’s young guns playing key roles at critical moments. The win keeps qualification permutations in play as the league stage tightens.
Groww’s early investors have begun selling shares immediately after the IPO lock-in period expired, triggering blockbuster gains for backers including Peak XV, Ribbit Capital, and Y Combinator. A sizable block deal saw millions of shares trade, reflecting how the fintech’s post-listing surge has rewarded first movers as lockups lifted.
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