Stories from earlier this week and beyond.
Paytm parent One97 delivered its first full-year profit of ₹552 crore in FY26, after a ₹663 crore loss in FY25. But the win has caveats: interest and investment income from its large cash pile helps materially. Core businesses are improving margins and cash generation, with AI driving cost cuts and growth levers like merchant payments and loans.
Even after crude oil prices jumped around 50%, petrol and diesel are still sold at rates last seen about two years ago, leaving fuel firms to absorb the gap. LPG prices were hiked in March by Rs 60 per cylinder, but remain below actual costs. Analysts warn the resulting Q1 fuel losses could erase expected fiscal-year earnings.
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President Donald Trump dismissed Iran’s latest peace proposal, saying the ceasefire is fragile and warning it is effectively on life support. He also criticized Kurdish intermediaries involved in the negotiations, calling Iran’s terms unacceptable. Trump reiterated that Iran must not obtain nuclear weapons, while projecting resolve as conflict continues and talks stall.
Uttar Pradesh has flipped its electricity narrative, moving from long blackouts to near round-the-clock supply that can meet record demand. The shift is credited to sustained infrastructure investment, governance reforms, and rapid renewable energy expansion. The result: a state increasingly seen as a blueprint for energy transformation and faster economic growth.
Satin Creditcare Network’s fourth-quarter profit surged, driven by stronger business momentum alongside lower bad loan provisions. The microfinance lender also reported improved asset quality, while annual earnings grew steadily. Across its lending businesses, assets under management expanded in a gradual but consistent manner, signaling improving balance-sheet health and demand.
Bangladesh has set up a three-member investigation committee to probe the decision to withdraw from the T20 World Cup 2026, a senior official said. The Ministry of Youth and Sports formed the panel to look into the circumstances and reasoning behind the withdrawal, amid controversy surrounding the move.
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Mark Smythe, a New Zealand composer and professor, died after a medical emergency while hiking California’s Mount Wilson Trail in Sierra Madre. Authorities confirmed the cause as atherosclerotic cardiovascular disease. Colleagues, students, and family remembered him for film music, concert composition, and teaching, while the tragedy has renewed attention on hiking safety and heart-related risks on trails.
The Enforcement Directorate has arrested former West Bengal minister Sujit Bose, a TMC leader, in connection with alleged irregularities in municipal recruitments. ED claims he recommended 150 candidates for jobs in exchange for flats and cash, as part of a broader probe into recruitment wrongdoing across West Bengal municipalities.
Prime Minister Narendra Modi has asked schools and colleges to consider temporary online classes, alongside increased work-from-home at companies. The rationale: conserve fuel and help India’s economy as crude oil prices rise due to the West Asia crisis. Citizens are also encouraged to use public transport and cut fuel consumption. Officials say the steps aim to reduce strain while navigating global uncertainty.
India’s private space sector is attracting rising global investment, led by Skyroot Aerospace becoming the country’s first space unicorn. Agnikul Cosmos is also reportedly in talks for new funding, underscoring investor confidence. But the road is long: startups must navigate lengthy development timelines and strict regulatory hurdles before capital turns into launches.
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SBI Chairman C S Setty cautioned that digital finance and platform lending are expanding quickly but may outpace trust, governance, and risk controls. He urged a balance between speed and safety, ensuring inclusion. Setty also said India’s development will require large-scale capital beyond what banks can provide, calling for deeper bond markets and more investor participation.
PM Narendra Modi urged Indians to shift destination weddings abroad to the Statue of Unity in Gujarat, arguing it would curb spending of foreign currency during economic strain tied to the West Asia conflict. He suggested creating a dedicated wedding venue at the monument and claimed Sardar Sahab would be present to bless couples at ceremonies held there.
Fashion retailer V-Bazaar is gearing up for a rapid expansion, targeting a workforce of 10,000 employees within four years. The company’s growth strategy focuses on opening more stores in smaller towns, with plans to scale its network to over 250 locations as it broadens its retail footprint beyond major markets.
RBI’s DG says India’s average per capita income could move into the high-income range by 2046-47, but only if the momentum from the last 20 years continues. He highlights that lower-developed states will be crucial to reaching the goal, urging region-specific strategies aligned with local strengths and development levels.
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After the Middle East war began, Indian state-owned oil marketing companies kept petrol, diesel and LPG supplies running with prices far below cost. But those under-recovery losses are building quickly, and analysts warn that Q1 fuel losses could erase entire fiscal-year earnings for the companies—unless pricing and reimbursement keep up.
A hantavirus outbreak on a cruise ship has sparked comparisons to Covid 19, but experts stress the virus is different. Human to human spread appears limited, and symptoms can emerge faster than in Covid, which can speed up detection and containment. High mortality and rapid progression make a widespread pandemic far less likely, though public health teams continue close monitoring.
India’s IT hiring is set for a sharp boost as AI job openings are projected to grow by about 15 to 20 percent, according to Ashwini Vaishnaw. The momentum is being supported by major data center investments, aided by attractive tax benefits, while new subsea cable projects expand digital connectivity—strengthening the infrastructure behind the AI boom.
Groww’s existing investors, including Sequoia Capital and Ribbit Capital, plan to sell equity worth Rs 4,750 crore via block deals with a floor price of Rs 177 per share. The announcement triggered a steep drop in Groww’s stock as traders weighed the impact of large institutional selling at a discount, raising fresh questions on demand and valuations.
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Prime Minister Narendra Modi urged Indians to strengthen the economy by cutting back on imports and choosing local products. He also appealed for lower fuel consumption and more mindful spending abroad as global uncertainty grows amid the West Asia crisis. The message frames these everyday decisions as collective action to build resilience and economic stability.
Missouri running back Ahmad Hardy was shot at a concert in Mississippi early Sunday morning, prompting an ongoing investigation. ESPN’s Pete Thamel reports Hardy was alert and moving on Monday, with cautious optimism about his recovery. Still, authorities have not confirmed key details such as the shooter’s identity or the exact sequence of events.
Chinese electronics firm OPPO reportedly punished senior executives after a Weibo ad backlash over a joke about a woman having “two husbands.” The post, later deleted, framed a celebrity as a “second husband,” drawing criticism from Chinese authorities and state-linked groups. Regulators said the brand crossed moral lines while chasing younger consumers, turning a marketing misstep into a national controversy.
Prime Minister Narendra Modi will travel from May 15 to May 20, meeting leaders in the UAE, Netherlands, Sweden, Norway and Italy. The tour is designed to strengthen trade relationships, expand cooperation in energy, and build broader strategic partnerships across Europe and the Middle East, signaling a focused push on economic and sectoral collaboration.
Mizoram Chief Minister Lalduhoma flagged off the first batch of 144 Mizo youths for Territorial Army training, marking what he called a historic milestone for the state. The recruits will train in Shillong and Bengaluru, while the government plans to push ahead with more recruitment. The CM thanked central leaders for their support and highlighted the programme’s job prospects and focus on disciplined living.
Wingreens Farms closed a ₹120 crore Series D and acquired Safe Harvest via a share-swap, banking on farmer partnerships and EBITDA profitability for a listing in two years. InCred Holdings filed its UDRHP for a ₹1,250 crore IPO, while Acko swung to ₹43.6 crore FY26 profit ahead of its own listing. Elsewhere, Ather hit a record high and Urban Company slid after a steep Q4 loss.
JP Morgan revised its oil outlook around the Strait of Hormuz. Even with a base case that assumes a June 1 reopening after a credible announcement confirmed by both sides, the bank expects Brent to remain anchored in the low 100s. The key driver is the projected pace of oil inventory depletion, which should eventually force reopening regardless of timing.
Alpha Wave Ventures has cut its stake in Lenskart by selling 2.46% in a major open market transaction. While the move signals a shift in the investor’s positioning, analysts argue Lenskart’s long-term outlook remains strong, pointing to revenue growth potential, scale benefits, and an improving path toward profitability.
The Cannes Film Festival has signed a multi year sponsorship deal with Meta, replacing TikTok. Meta will promote its video enabled glasses and showcase its AI video technology on the festival stage. The news comes amid mounting concerns over AI in filmmaking, with director Steven Soderbergh reportedly using Meta AI for his upcoming John Lennon documentary.
In drought-hit Anantapur, Andhra farmer Mekala Shiva Shankar Reddy transformed 180 acres into a high-income, water-efficient farm worth crores. By switching to drip irrigation and fertigation, he cut water use and improved yields. He also diversified into high-value horticultural crops such as grapes and even exotic fruits, proving that harsh dry land can become remarkably productive with the right approach.
The Election Commission is gearing up to begin Phase III of its Special Intensive Revision (SIR) of electoral rolls in the coming days. The exercise will cover the remaining 22 states and Union Territories, updating rolls for nearly 40 crore electors. The move comes after assembly elections have been completed, setting the stage for an updated voter database.
Swiggy’s stock fell about 7% even after reporting a 45% jump in Q4 FY26 revenue to Rs 6,383 crore and a narrowed net loss. The pressure, analysts say, comes mainly from weakness in quick commerce via Instamart, where growth is slowing—despite solid performance in the core food delivery business.
Virat Kohli heaped praise on teammate Krunal Pandya after the RCB batter’s match-winning 73 against Mumbai Indians in IPL 2026. In the 54th match, Kohli went a step further, labeling the knock as Pandya’s “best IPL knock.” The innings powered RCB’s push past MI, drawing one of Kohli’s biggest endorsements.
India has refused Russian liquefied natural gas shipments to avoid exposure to US sanctions, according to sources. With energy supply uncertainty rising alongside Middle East tensions, a Russian LNG tanker reportedly remains stuck without approval for permitted cargoes. India and Russia continue discussions on what shipments could legally proceed, while Russia pushes to find alternative buyers for its LNG exports.
Savannah Guthrie, a familiar face on NBC’s Today, is gearing up to host a new Wordle inspired game show. The team based format will put contestants in head to head puzzle battles for a cash prize, produced by Jimmy Fallon’s team. But the project didn’t move smoothly: filming was delayed after the disappearance of Guthrie’s mother, Nancy Guthrie.
Santa Clara County has filed a lawsuit against Meta Platforms, alleging scam advertisements on Facebook and Instagram violated California false advertising and unfair business practices laws. The county seeks restitution and damages, saying Meta profited from high-risk scam ads and tolerated misconduct while allegedly slowing efforts to reduce scams.
Abhishek Banerjee’s Z-plus security cover has been downgraded after a fresh review on the first day of the new BJP-led government. The Z-plus category, typically reserved for high-risk VIPs and involving CRPF commandos, had been in place for several years. Banerjee is expected to receive a lower security category going forward, according to sources.
Amid instability in West Asia, Defence Minister Rajnath Singh said India is taking concrete steps to protect key supply chains and maintain reliable energy for citizens. He chaired a meeting focused on maritime security and economic resilience, noting the country’s petroleum reserves and urging fuel conservation to reduce financial pressure as global risks mount.
Spring’s IPO market is back in gear after a brief March lull, with issuers moving forward despite geopolitical uncertainty. In the busiest stretch for large IPOs since 2021, Renaissance Capital says three major billion-dollar offerings are set to price soon. Among the movers, Lincoln International is aiming for a US IPO valuation near $2 billion.
Karnataka’s State Planning Commission is proposing a push to decentralize the tech ecosystem beyond Bengaluru, targeting tier-II and tier-III cities. The roadmap includes Karnataka Innovation Orchestration Centers designed to accelerate deeptech incubation and R&D, aiming to help the state emerge as a global benchmark for technology-driven development.
Even as Prime Minister Narendra Modi urges restraint on gold purchases, the All India Jewellers & Goldsmith Federation is proposing to mobilise India’s idle gold instead of relying on fresh imports. The body calls for a bullion bank and a revamped gold monetisation scheme, arguing it could cut import dependence while protecting the livelihoods of 35 million people.
Gautam Adani unveiled a $200 billion roadmap aimed at securing India’s energy and digital sovereignty, arguing that national power now rests on controlling both “energy and compute.” Speaking at the CII Annual Business Summit 2026, Adani said the plan includes $100 billion for the energy transition and $100 billion for data center infrastructure, to reduce dependence and strengthen AI readiness.
Days after Mysuru authorities installed mirror-clad “mirror walls” at chronic urination spots to shame offenders and push self-accountability, a viral video shows a man doing the exact opposite. Instead of reforming, he reportedly uses the mirror wall as his restroom, drawing fresh backlash over the effectiveness of public deterrence tactics and civic messaging painted on the site.
Zerodha co founder Nikhil Kamath doubts whether dollar backed stablecoins suit India long term. Instead, he suggests exploring a gold linked stablecoin that could unlock value from idle household gold while lowering reliance on dollar dominated digital finance. He argues this approach also aligns with India’s strategic interests and reduces currency dependence.
Hollywood actor Benedict Cumberbatch has become the subject of a viral video after a heated on-road exchange with a cyclist. The cyclist accused him of running multiple red lights, alleging he passed two other signals as well. Cumberbatch denied the claims, and the argument quickly spread online, igniting debate over what actually happened.
US markets are treading carefully as Iran tensions push oil beyond $100 and traders refocus on inflation risk. The Dow, S&P 500 and Nasdaq edged higher, but the VIX rose, signaling growing anxiety ahead of April CPI and PPI. Higher energy prices could quickly feed broader costs, while tech-led optimism faces fresh macro pressure.
Assam Congress leaders met after the election results to lay out plans for a “New Congress” aimed at building a “Greater Assam.” The party says it will focus on correcting its mistakes, pushing its message to grassroots voters, and countering what it calls BJP misinformation. Congress also announced it will not attend the new government’s swearing-in ceremony.
Rakul Preet Singh’s video from Gir National Park sparked an online row after she stepped out of the safari vehicle during the wildlife experience. The viral moment has reignited attention on forest rules designed to protect both lions and visitors by limiting how and when anyone can exit vehicles inside the protected area. The cast’s trip for movie promotion is now overshadowed by the controversy.
The government is considering a new initiative called Rural Prosperity and Rural Resilience to directly connect industries with rural producers. The plan is designed to strengthen value chains by improving skills and expanding market access, while encouraging distributed manufacturing and greater corporate presence in rural areas. It also aims to transform local livelihoods by combining enterprise support with digital systems.
Nvidia CEO Jensen Huang will not be in Beijing during President Donald Trump’s China visit, with a source saying he was not invited. The White House is instead emphasizing agriculture and commercial aviation, including possible Boeing aircraft orders. The White House has not commented, leaving questions about what the trip means for US-China tech and chip engagement.
Vinesh Phogat said she will submit a detailed reply to the Wrestling Federation of India’s show-cause notice, while maintaining that she is eligible to compete. The Olympian also signaled her intention to take part in the Senior Open Ranking Tournament in Gonda, setting up a fresh phase in her dispute with the WFI.
Noida International Airport is set to begin Akasa Air operations on June 16, making it the second airline to use the new airport. Akasa will run daily flights connecting Noida with Bengaluru and Navi Mumbai, and it plans to set up a maintenance facility at the airport. IndiGo starts earlier on June 15.
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