Stories from earlier this week and beyond.
Porsche is cutting more than 500 jobs and closing three subsidiaries as falling EV demand and weaker China sales squeeze profits. The restructuring shifts focus back to its core car business, shutting Cellforce Group’s battery operations, ending Porsche eBike Performance, and closing Cetitec’s software and digital communications unit. The move signals a broader luxury auto recalibration.
Gyan Singh, brother of Punjab Chief Minister Bhagwant Mann, has joined the Bharatiya Janata Party, following the exits of Raghav Chadha and six other AAP MLAs. The move was attended by Punjab BJP chief Sunil Jakhar and Haryana Chief Minister Nayab Singh Saini, signaling fresh turbulence for the ruling AAP as more lawmakers move toward BJP.
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The Colosseum wasn’t just an arena for gladiators—it relied on the hidden hypogeum, a vast underground engineering system. Using lifts, trapdoors, and coordinated routes, crews could bring animals and fighters onto the floor with precision, turning events into carefully timed surprises. The result was spectacle built on illusion, planning, and Roman technical power.
The Maldives has repaid a USD 50 million treasury bill to India, a step President Mohamed Muizzu says will reduce the country’s external debt. The bill was part of earlier financial support from India, subscribed through the State Bank of India. Muizzu added that clearing this liability helps prevent a larger future financial burden.
The Centre has assured that India’s fertiliser supply for the upcoming Kharif season is secure, with stock levels comfortably above usual requirements. It said maximum retail prices for key fertilisers are stable, supported by domestic production and imports. The government has also secured large quantities of major products including NPK complexes, DAP, triple super phosphate and ammonium sulfate.
Bank of Baroda plans to grow its corporate lending 10% by FY27, backed by a Rs 50,000 crore loan pipeline, especially strong in investment lending demand. The bank says it will lean on external benchmark lending rates to protect margins even as deposit costs remain a key pressure point. Asset quality is reported as solid, with strength in MSMEs.
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The Enforcement Directorate has opposed actor Jacqueline Fernandez’s plea to become an approver in a Rs 200 crore money laundering case linked to Sukesh Chandrashekar. The ED says she continued contact with him despite his criminal background and allegedly received gifts funded by proceeds of crime. It also argues her cooperation during the investigation is questionable.
Commerce Secretary Rajesh Agrawal has urged Indian industry to actively leverage newly signed free trade agreements, arguing they hold major trade and investment potential. He stressed that modern FTAs extend beyond tariff cuts, covering services and regulatory cooperation, which can build a more predictable environment for investors and improve business outcomes.
India’s Ministry of Road Transport and Highways has widened access to build-operate-transfer (BOT) highway projects, allowing large institutional investors to bid. The move is intended to deepen private participation in highway development. Previously, such funds largely focused on toll-operate-transfer (TOT) deals, but eased eligibility rules are designed to pull more capital into BOT infrastructure.
Sindhuja Microcredit, a digital rural-focused microfinance institution, has raised $5 million (INR 47 crore) in a Pre-Series D round to expand lending and strengthen its capital base. Backed by investors including Abler Nordic, GAWA Capital via Huruma Fund, and Oikocredit, the funds will boost access to responsible credit for underserved communities, particularly self-employed women entrepreneurs.
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Former West Bengal minister Sujit Bose appeared before the Enforcement Directorate on Monday over an alleged municipality recruitment scam, accompanied by his son. The ED had previously summoned him and carried out searches at establishments linked to both Bose and his son. Reports say incriminating documents were recovered during the raids.
Bright pink granite boulders on Antarctica’s Hudson Mountains were the clue to something far larger beneath the ice. Using aerial gravity mapping and geology analysis, researchers found a massive granite formation about 100 kilometers wide and 7 kilometers deep under the Pine Island Glacier. The result could refine understanding of Antarctic geology and how this glacier influences sea level projections.
Fresh cracks are emerging in the AIADMK as senior leader C Ve Shanmugam reportedly skipped the initial oath-taking session for newly elected MLAs in the Tamil Nadu Assembly on May 11, 2026. Though he was present inside the Assembly complex, party MLAs reportedly sat in separate groups, intensifying speculation of a deeper internal rift.
India is considering incentives to accelerate floating solar panel installations, aiming to distribute renewable generation beyond a handful of states. The move is part of a broader push to expand renewable capacity and battery storage by 2050 while supporting domestic manufacturing of solar components. Officials are also tackling renewable curtailment and strengthening grid infrastructure.
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India’s government plans to replace MGNREGA with the VB-G RAM G Act on July 1, promising 125 days of guaranteed wage employment and claiming it will drive rural transformation. Congress has hit back, calling the notification an exercise in centralisation that could weaken rural workers’ bargaining power and shift control away from labour.
Brazilian aerospace major Embraer has signed its first forged raw materials supply contract with India’s Bharat Forge. The move supports Embraer’s effort to diversify its supply chain, strengthening resilience and competitiveness. For India’s aerospace sector, the deal signals growing global trust in domestic forging capabilities and could open doors for deeper manufacturing ties.
Chennai-based mutual fund distributor Muthukrishnan Dhandapani went viral on X after saying he has advised Rahul Gandhi on mutual fund investments since 2013. A former BJP supporter, Dhandapani claims Gandhi separates politics from professionalism, treating him as a respectful long-term client. The revelation has raised eyebrows about how finance networks intersect with Indian politics.
Maersk is rolling out its first dedicated reefer rail service linking Hyderabad’s pharmaceutical hub to Nhava Sheva Port via a cold-chain corridor. The service runs weekly, aiming to make logistics more predictable for exporters while cutting greenhouse gas emissions by up to 3,000 tonnes annually compared with conventional options.
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Indian state refiners are reportedly preparing a modest fuel price increase, with diesel and gasoline possibly up by around 5 rupees per liter. The rationale: mounting daily losses linked to the ongoing Persian Gulf war and the need to keep fuel affordable for consumers while stabilizing refinery finances.
Kerala Congress chief Sunny Joseph tells Republic he is “not in the Chief Ministerial race” as Congress leadership continues deliberations on who should lead after the UDF’s 2026 election victory. His remarks come amid a leadership deadlock within the party and its coalition, leaving the CM decision unresolved while discussions continue at the high-command level.
Swiggy’s momentum in India’s quick-commerce race faces a hard reality check: profitability pressures, aggressive competition, and rising delivery economics. The question is whether yesterday’s growth and market gains can be defended—or if operational strain could flip a strong period into a costly reversal.
Former CSK and India batter Subramanian Badrinath has clarified his viral comment about Krunal Pandya after facing heavy trolling online. The remark drew backlash following RCB’s match against MI on May 10 during IPL 2026. In a fresh statement, Badrinath moved to explain his intent and address the criticism that spread rapidly across social platforms.
After Prime Minister Narendra Modi urged Indians to reduce foreign travel, tourism industry body FAITH says the country must not lose the opportunity to bring more international visitors in. It wants eased visa rules, better connectivity, and stronger global marketing to increase tourist arrivals and protect foreign exchange earnings.
A motorcycle crash near the Surrey-Delta border in Canada left the bike dangling from an overhead traffic light, hanging from just one wheel. The rider suffered serious injuries after the collision with a silver sedan triggered major disruption. Shocking video captured by bystanders circulated as emergency crews worked to safely remove the motorcycle from the signal.
Utqiagvik in Alaska has begun its annual “midnight sun” stretch, an 80 day period when true night disappears. After a rare shift at dawn, a brief sunset was recorded at 1:48 a.m., followed by sunrise again at 2:57 a.m., according to timelapse footage shared by the National Weather Service. The bright conditions are expected to continue until August 2.
The central government has notified that the VB G RAM G Act, the Viksit Bharat Guarantee for Employment and Livelihood Mission (Rural), will replace MGNREGA from July 1, 2026. The new job guarantee scheme aims to strengthen rural employment and infrastructure development, signaling a shift in how the government delivers guaranteed work to rural households.
Fresh claims in the TCS sexual assault scandal point to the Kaiser Park house where Nida Khan was reportedly staying. Property documents cited in reports say the residence is registered under Hanif Khan Yusuf Khan and Syed Sarwar Syed Afsar, showing a ₹23 lakh purchase and a sale just three months ago. Investigations and reporting continue as details emerge.
RBI Deputy Governor Poonam Gupta says India’s march toward high-income status by 2047 will rely less on national macro policy and more on how well individual states design and execute growth plans suited to their local strengths. The message shifts focus to state-level strategy, execution, and tailoring economic development to regional opportunities.
A new study using airborne electromagnetics and satellite imagery reveals a vast underground freshwater system extending kilometers beneath Utah’s Great Salt Lake. The discovery challenges the belief that the basin’s extreme salinity dominates underground conditions. Researchers say the hidden water could reshape approaches to managing exposed sediment and related air pollution, but experts warn against careless pumping that could trigger unintended environmental effects.
Mutual fund SIP inflows slipped 3% month-on-month to Rs 31,115 crore in April, down from a new peak of Rs 32,087 crore in March, according to AMFI data. The broader trend remains positive: April SIP inflows rose 18% year-on-year from Rs 26,400 crore in April 2025, signaling sustained long-term investor participation.
Delhi plans to phase out pink tickets for women’s free travel on DTC and cluster buses from July. Officials say the change will streamline subsidies and link benefits with the National Common Mobility Card via Pink Saheli Smart Cards. About six lakh women have already registered, and awareness drives are set before enforcement tightens.
India expects a US delegation to visit for the next round of trade talks, though the schedule is still being finalized. Both sides say they remain committed to moving forward on a bilateral trade agreement after April discussions, where negotiators focused on issues such as market access and digital trade.
A Rs 10 increase in sugarcane FRP has drawn sharp reactions on both sides. Farmers argue the revised rate is too low to cover rising costs, while sugar mills warn that payments are already under strain and could deepen arrears. The small hike is now triggering bigger questions about pricing, procurement, and whether the season’s finances can hold.
Uttar Pradesh Chief Minister Yogi Adityanath said foreign invaders could not erase India’s spiritual and cultural identity, arguing the nation’s civilisational pride endured. He cited the reconstruction of major sites such as Kashi Vishwanath Dham and the Somnath temple. Adityanath credited Prime Minister Narendra Modi’s push for “Ek Bharat, Shreshtha Bharat” for reviving that confidence.
Tamil Nadu Chief Minister C Joseph Vijay visited former CM MK Stalin at his residence, just days ahead of the Assembly floor test. Vijay also met MDMK founder Vaiko. The unexpected outreach comes after Vijay recently sharpened his criticism of the state’s mounting debt and made pointed remarks perceived as aimed at the previous DMK administration.
Afcons Infrastructure has emerged as the successful bidder for a major rail project in Croatia, a landmark step into Europe. The contract, worth over 677 million euros, will see the company reconstruct an existing track and build a second line, with civil works, electrification, and signaling included. Afcons says it is its largest international order to date.
The West Bengal School Service Commission has uploaded scanned OMR sheets for the 2016 teacher recruitment exam online. The move comes after a Supreme Court order and a Calcutta High Court ruling that ended services of over 25,000 employees due to irregularities. OMR images for about 3.5 lakh candidates are now accessible through the commission’s platform.
Nida Khan, accused in a Nashik case alleging sexual harassment and forced religious conversion, has been remanded to judicial custody after being arrested on May 7. The police allege exploitation and attempts at forceful conversion, with multiple FIRs under investigation. Khan, who is pregnant, was denied anticipatory bail earlier as the case moves through the legal process.
In Stockholm, an experimental cafe is testing what happens when a human barista serves drinks while an AI agent, nicknamed Mona, controls operations. At the counter, patrons can pick up an in-cafe phone to ask questions and shape the customer experience. The setup, powered by San Francisco startup Andon Labs, turns coffee ordering into a direct conversation with AI.
India’s stocks fell after PM Narendra Modi asked citizens to delay gold purchases and foreign travel, a rare direct appeal that analysts say is aimed at “economic self-defense.” Experts argue it can act as a buffer for forex by reducing demand for imports linked to gold and foreign spending. Rather than signaling weakness, they frame it as preventive macro-management during a correction.
Canara Bank’s Q4FY26 consolidated net profit fell 10% year-on-year to Rs 4,506 crore, even as net interest income rose 4% to Rs 9,808 crore. Sequentially, profit dropped 13% from the previous quarter. The market reacted sharply: the PSU lender’s shares slid about 7% after results, hitting an intraday low of Rs 130.50 on NSE.
An India-bound urea shipment was cancelled after officials flagged potential links to Iran, a move that could worsen supply pressure for the world’s top fertilizer importer. The cargo aboard the bulk carrier Infinity was reportedly withdrawn by Aditya Birla Global Trading. With global urea prices rising, the scrapping adds fresh uncertainty for India’s fertilizer availability.
Amid global instability and energy concerns, PM Narendra Modi urged Indians to follow a seven-point set of lifestyle and spending shifts tied to “Viksit Bharat”. He called for cutting petrol and diesel use, avoiding non-essential foreign travel, buying Made-in-India, reducing gold and edible oil purchases, using less fertiliser, conserving water, and adopting Mission LiFE habits like saving electricity and avoiding single-use plastics.
The European Commission is holding talks with major AI players OpenAI and Anthropic to better understand their advanced AI models. OpenAI has reportedly offered access to its latest model, while the Commission has met multiple times with Anthropic to explore possible collaboration. The discussions underscore Europe’s push to tighten AI oversight as development accelerates across the continent.
The Union government moved to reassure Indians after Prime Minister Narendra Modi urged citizens to conserve fuel and adjust behaviour like using metro or carpooling during the West Asia crisis. Petroleum ministry officials said multiple measures have been taken to keep petrol and diesel supplies steady for common consumers, with minimal inconvenience, despite the heightened geopolitical situation.
After months of uncertainty, leaks, and certification delays, Thalapathy Vijay’s upcoming film Jana Nayagan appears close to release. Producer Venkat K Narayana says the CBFC process is nearing completion, with a possible theatre release within the next two weeks. The timing could also coincide with Vijay starting his new role as Tamil Nadu Chief Minister.
The Union government told the Bombay High Court that Agniveers cannot be treated on par with regular soldiers for pensionary benefits. In its response to a petition by the mother of a deceased Agniveer, the Centre argued the Agnipath scheme is a short-term engagement for national security, limiting comparable benefits for families.
The Supreme Court has directed the NIA to complete its investigation into the April 1 violence in Malda, West Bengal. In the incident, a mob held seven judicial officers captive for nine hours. Acting on suo motu cognizance, the court asked the NIA to conclude the probe and is expected to file a charge sheet within two months.
Thailand has introduced a compulsory online Thailand Digital Arrival Card for all foreign visitors, replacing older paper forms. The move is designed to speed up immigration and strengthen security checks. Travelers are required to submit the card at least three days before their arrival, so planning ahead is essential to avoid last-minute issues at entry.
India is considering shrinking exclusion zones around nuclear reactors to free up land for plant expansions and encourage private investment. Regulators have reportedly given the proposal in-principle approval, with the potential to reduce land requirements and enable more nuclear capacity. Still, the move may face public and political backlash over safety concerns.
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