Stories from earlier this week and beyond.
Maharashtra’s Charity Commissioner Amogh S. Kaloti has ordered Tata Trusts to defer a scheduled board meeting as an inquiry begins into alleged violations of the Maharashtra Public Trusts Act. The probe targets the composition of the Sir Ratan Tata Trust board under Section 30A(2), which caps perpetual trustees, after complaints were filed. Under Section 36A, future meetings are barred until an inspector’s report is submitted, following court observations and an inspector inquiry still awaiting results.
In Costa Rica’s Diquís Delta, banana plantation drainage and land clearing in the 1930s and 1940s accidentally unearthed giant, highly polished stone spheres buried for centuries. UNESCO says the finds were not isolated sculptures but part of a larger chiefdom settlement network, including paved areas, mounds, burials and habitation zones. Many spheres are strikingly mathematically accurate, yet their exact purpose remains unknown. The same landscape reshaping that revealed them also led to plundering and damage to nearby archaeological sites.
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Karnataka has announced an expedited plan for a dedicated drone flight testing facility near Bengaluru, alongside a refreshed drone policy framework. IT/BT Minister Priyank Kharge led an industry consultation with regulators and startups to address testing infrastructure, streamlined approvals and public-sector drone adoption. The state is also exploring an annual Bengaluru Drone Festival to spotlight innovation, competitions and real-world use cases.
This week, Spotify users worldwide panicked when the familiar green app icon suddenly looked like a shimmering disco ball. The viral change isn’t a permanent rebrand. It’s part of Spotify’s 20th anniversary campaign called “Spotify 20,” centered on a nostalgia-fueled experience dubbed “Your Party of the Year(s).” The themed icon reflects celebration and shared music culture, while the feature surfaces personal milestones like your first streamed song and generates an All-Time Top Songs playlist with 120 tracks.
On May 15, 2026, Nvidia and Boeing shares fell sharply despite Trump’s Beijing summit headlines announcing a potential 200-plane Boeing order and H200 chip clearance for Nvidia. Nvidia slid 3.83% and Boeing 2.86%, while the PHLX Semiconductor Index dropped 3.55%. The catch: Beijing never formally confirmed the Boeing order, and Nvidia’s H200 export clearance lacks Chinese approval. Investors had priced in a more certain, larger deal, so the gap between announcement and confirmation triggered “buy the rumor, sell the news” selling.
India’s gold imports surged 81.69% year-on-year to USD 5.62 billion in April, fueled by high global prices and reaching a record value. The commerce ministry data also shows silver imports jumped 157.16% to USD 411 million. But the government raised customs duty on gold and silver from 6% to 15% effective May 13, which officials expect will reduce import volumes later. Despite April’s spike, gold imports in tonnes fell 4.76%.
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Mumbai Police have registered an FIR against former Yes Bank MD and CEO Rana Kapoor, Sudhir Walia and other officials in connection with alleged illegal transfer of mortgaged HDIL group properties worth Rs 1,000 crore. The complaint claims a Rs 150 crore loan was moved to Suraksha Asset Reconstruction without classifying it as a Non-Performing Asset, despite a 36-month repayment window not ending. It also alleges sales below market rates and alleged margin money routing to enable recovery. Investigations continue, with no arrests yet.
FSN E-Commerce Ventures, Nykaa’s parent company, has cleared the reappointment of cofounder Adwaita Nayar and Anchit Nayar as whole-time directors for another five-year term starting July 1, 2026. Their current executive roles, held since July 2021, will run until June 30, 2031, subject to shareholder approval. The board also approved fresh five-year terms for independent directors Anita Ramachandran and Milind Sarwate, starting July 15, 2026, pending shareholder nods.
India has begun disbursing funds under its Rs 1 lakh crore Research Development and Innovation (RDI) Scheme, sending cheques to the first cohort of five deep tech startups. Technology Development Board (TDB) released an initial tranche through long-term, low-interest loans and possible equity. The companies span space, drones, robotics, battery tech, and advanced healthcare, with the first approvals following a surge of proposal demand within months.
Rahul Gandhi reacted sharply to the death of 21-year-old Ritik Mishra, a NEET aspirant in Uttar Pradesh’s Lakhimpur Kheri, whose family alleged he hanged himself after the NEET-UG exam was cancelled amid paper leak allegations. Calling it “murder by the system,” Gandhi questioned how many such deaths it would take to bring accountability, citing data on scams, cancellations, and near-zero punishment. Priyanka Gandhi Vadra also condemned exam corruption.
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US markets took a sharp turn lower on Friday, May 15, 2026, with the Dow, S&P 500 and Nasdaq all falling after President Donald Trump concluded his China visit without easing key investor worries. The S&P 500 slid to 7,436 and the Nasdaq fell 1.25%. Nvidia dropped nearly 4% and Amazon also slipped as Treasury yields jumped on hotter-than-expected inflation data. Oil topped $108, the dollar strengthened, while gold and silver plunged amid renewed volatility and Iran uncertainty.
Karnataka is preparing guidelines to govern how artificial intelligence is used in medical education, with a protocol and standard operating procedure under consideration. The state plans to focus on ethical AI adoption and is evaluating whether AI can be integrated across all affiliated colleges. An Innovation Centre is proposed at the Rajiv Gandhi University of Health Sciences in Mysuru. Separately, Karnataka is establishing NIMHANS-model hospitals in Mysuru and Kalaburagi as complaints about mental health have risen sharply.
SEBI has widened the permitted use of fresh borrowings for Infrastructure Investment Trusts (InvITs) with net debt above 49% of asset value, effective immediately. The regulator now allows such funds for capital expenditure to improve performance or expand capacity, and also for major maintenance costs on road projects, defined as non routine expenses tied to concession obligations. SEBI further permits refinancing by the InvIT, SPV, or holding company, but only the principal can be refinanced—interest and fees cannot.
Top tech executives are set to return to Capitol Hill as the Senate prepares a broad oversight hearing in June. Senate Judiciary Chairman Chuck Grassley invited Mark Zuckerberg of Meta, Sundar Pichai of Alphabet, Shou Zi Chew of TikTok, and Evan Spiegel of Snap, according to a Grassley spokeswoman. The gathering signals another high-profile round of scrutiny as lawmakers continue to press major platforms on issues that have drawn intense public and regulatory attention.
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Manchester United are reportedly preparing to make Michael Carrick their permanent manager from next season, with journalist Fabrizio Romano confirming the decision. Reports say Carrick is set to sign a two-year contract with options for further extensions, after taking charge from Ruben Amorim in January. His impact has been immediate, including 15 wins in 10 games and United’s Champions League qualification. The club is also expected to use Carrick’s input for a summer rebuild, with multiple midfield and defensive additions on the radar.
In 1887, while searching for sebakh fertilizer at Tell el-Amarna, an Egyptian woman stumbled on baked clay tablets now known as the Amarna Letters. Far from royal relics, the mundane tablets carried Akkadian cuneiform correspondence—Egypt’s day-to-day political messages to other kings, officials, and tributary states. Dating to the reigns of Amenhotep III and Akhenaten in the 14th century BCE, the letters reveal a tense, connected Bronze Age world shaped by threats, gifts, marriages, and pleas for military help.
In 1929, a Sichuan farmer clearing an irrigation ditch uncovered jade buried in the mud, a discovery that seemed minor at the time. Years later, archaeologists returned and recognized the remains of a major Bronze Age Shu settlement. The real shock came in 1986 when workers exposed two pits packed with ritual bronzes, jade, and sculptures—especially massive bronze masks. Their striking, unfamiliar style challenged the Yellow River-centered narrative and reshaped how scholars describe early Chinese civilization.
El Castillo at Chichén Itzá has long captivated visitors with mathematical precision and the equinox serpent shadow. But a 2018 Scientific Reports study used non-invasive electrical-resistance geophysics to map what sits below. Researchers detected a large karst cavity resembling a cenote, implying the Maya temple was built over a natural sinkhole in limestone terrain. No excavation followed, yet the finding is reshaping interpretations of how El Castillo’s underground setting may have influenced its construction and symbolism.
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Flipkart has put its IPO plans on indefinite hold as market volatility and a crowded listing pipeline squeeze investor appetite. The pause comes after Walmart CEO John Furner visited India and follows other Walmart-linked delays, including PhonePe’s IPO postponement. Flipkart had aimed to file draft papers in late 2026 or early 2027 after NCLT approval to move its domicile back to India. Meanwhile, it is scaling quick commerce “Minutes” with nearly 100 stores a month, even as heavy investment pushes profitability further out.
Punjab’s PSEB Class 12 exams show a striking turnaround for government schools, with 416 institutions posting a 100% pass result. The overall pass rate reached 91.46% from about 2.65 lakh candidates, while girls again outperformed boys with a 94.73% pass rate versus 88.52%. In the merit list, 122 of 275 students come from government schools, and 217 of 278 merit scorers are girls. Three toppers scored 500/500, honoured by CM Bhagwant Mann and backed by the state’s “Sikhya Kranti” push.
In 1938, chemist Roy Plunkett was testing refrigerant gases when a cylinder he expected to contain a gas was instead blocked and, upon opening, lined with a white, waxy substance. That material proved to be polytetrafluoroethylene (PTFE), better known as Teflon, later prized for extreme stability, heat resistance, chemical resistance, and very low surface energy—key to the non-stick reputation. Its widespread industrial use grew after World War II as fluoropolymers gained traction.
Kanye West’s Delhi concert at Jawaharlal Nehru Stadium, set for May 23, has been cancelled after being postponed once from March 29 amid rising socio-political tensions. Ticket holders received a text from organisers confirming the cancellation and outlining a refund process. White Fox, the organiser, said “directives issued by officials” make Ye live in India unable to proceed, citing safety concerns. The show was close to selling out, with tickets reportedly priced up to ₹30,000, prompting anger online.
Emirates NBD has received all required approvals, including from the Government of India, to acquire a majority controlling stake in RBL Bank. First announced on October 18, 2025, the deal involves Emirates NBD subscribing to about 959 million fully paid equity shares via a preferential issue at ₹280 each, totaling roughly $3 billion. The investment is expected to position Emirates NBD as promoter, with final ownership potentially ranging from 51% to 74% after foreign ownership limits and a mandatory open offer. RBL will operate as a foreign bank subsidiary, with Emirates NBD’s India branch operations in Mumbai, Chennai, and Gurugram potentially amalgamated subject to further clearances.
Agneyastra Energetics Limited, the defence arm’s subsidiary under Bharat Forge’s Kalyani Strategic Systems, has broken ground on a new strategic manufacturing facility near Madakasira in Andhra Pradesh. The integrated 1,000-acre campus will receive a planned ₹1,500 crore investment over the next 2–4 years, featuring advanced manufacturing, high-safety testing, and dedicated logistics. Backed by decades of group expertise, the project is expected to create about 800 direct and 2,500 indirect jobs while pushing import substitution in advanced energetics and ammunition.
SEBI and the Central Board of Direct Taxes (CBDT) have relaxed PAN-related onboarding rules for foreign portfolio investors after complaints that the revamped Income-tax Rules and March PAN forms made compliance overly complex across jurisdictions. The updates simplify documentation, contact disclosures and taxpayer identification fields. CBDT clarified that the authorised signatory name in the common application form is enough, liability is limited to PAN application, and optional fallbacks like using FPI registration number or “0000000000” for missing TINs are allowed.
In a first podcast appearance, Anthropic CFO Krishna Rao lays out how the AI lab scaled from about $250M in run-rate revenue two years ago to roughly $30B by early 2026—driven by a ruthless “compute” strategy. He describes long-horizon planning, multi-vendor chip bets across Trainium, TPUs, and GPUs, and why interpretability and safety research is now boosting enterprise trust and retention.
Iranian Foreign Minister Seyyed Abbas Araghchi met India’s External Affairs Minister S Jaishankar and pledged that friendly nations can rely on Iran for commerce safety through the Strait of Hormuz. Araghchi said Iran would carry out its “historical duty” as a protector of security in Hormuz, and pointed to Iran’s resistance to US “bullying” as a familiar struggle for many states. Speaking at BRICS talks, he urged keeping international institutions free from political manipulation while ministers backed India’s 2026 chairship.
Wall Street opened sharply lower on Friday as inflation fears—linked to the Middle East conflict—pushed Treasury yields higher. That jump in yields threatens to derail a recent AI-fueled rally by tightening financial conditions for stocks. The S&P 500 and Nasdaq both dropped about 1% at the open, signaling risk-off sentiment returning quickly. Traders are now focused on whether higher yields persist and how markets interpret incoming inflation signals after the shock from geopolitical tensions.
Cash on delivery remains central to India’s e-commerce even as UPI records soar, with industry estimates putting COD at close to half of all online orders. The article argues the real driver isn’t payment convenience but trust: first-time buyers in Tier-2 and Tier-3 areas fear delivery delays, wrong items, or refund hassles, so COD lets them inspect before paying. Businesses are now using data-based risk models, partial prepay, and verification to limit losses while keeping access for cautious shoppers.
Union Agriculture Minister Shivraj Singh Chouhan announced that the Centre will procure fresh onions from farmers at Rs 12.35 per kg starting Friday, following a sharp fall in onion prices. Speaking in Satara, Maharashtra, he said the government will purchase the entire available stock to support growers. Chouhan linked the decline to disrupted onion exports amid the West Asia crisis, triggered by US-Israeli airstrikes on Iran on February 28, and directed NAFED to carry out procurement.
A Supreme Court empowered committee has issued a public notice that any real estate transaction involving Supertech Realtors’ Noida “Supernova” project requires prior written approval from the panel. This includes sale, transfer, assignment, conveyance, and creation of third-party rights for units in Supertech Realtors Pvt Ltd. Deals without approval will be treated as null and void ab initio, and past board resolutions won’t apply from December 16, 2025. The panel, chaired by Justice M M Kumar, has appointed PwC as transaction advisor to revive the stalled project.
India’s merchandise exports and imports with West Asia fell more than 28% in April, the second straight monthly contraction, as ship movements were severely disrupted by the US-Israel-Iran conflict. Exports to the region dropped 28% to $4.16 billion and imports fell 31.64% to $10.47 billion. Trade with the UAE and parts of Saudi Arabia weakened, while Oman imports surged. The Strait of Hormuz restrictions are throttling a key route, threatening sectors like gems, engineering, electronics, and oil-linked supplies.
ITC Hotels delivered another strong quarter, with Q4 revenue from operations up 18% to Rs 1,254 crore and net profit up 23% to Rs 317 crore. For FY26, consolidated revenue rose 16% to Rs 4,139 crore and profit climbed 29% to Rs 821 crore. The company reported its highest-ever signings—33 hotels and 3,300 keys—plus a 67-hotel managed pipeline. ITC Hotels is also buying a Zuri luxury resort in Kumarakom to expand its Kerala leisure portfolio, targeting 250 hotels by 2031.
UDF convenor Adoor Prakash said the entire Kerala Cabinet of the new government is expected to be sworn in on Monday, with the ministerial roster likely to be finalised shortly. UDF allies including Congress, IUML, Kerala Congress (KEM), RSP and others met at Cantonment House in Thiruvananthapuram, their first formal gathering after the May 4 Assembly election results. Leaders stressed the meeting was procedural, while preparations continue for the 10 am oath ceremony.
President Donald Trump’s high-stakes China trip is drawing buzz beyond diplomacy because Melania Trump is not traveling. Instead, three women from Trump’s inner communications circle accompany him to Beijing: Anna Kelly, deputy White House press secretary; Natalie Harp, an aide nicknamed “human printer”; and Margo Martin, another key media operator. Their behind-the-scenes work—press management and social media execution—has become a focus as Trump prepares to push Xi Jinping on trade and purchases of American goods.
Sourav Ganguly revisited India’s early-2000s match-fixing turbulence on the Raj Shamani podcast, recalling that when he became captain at 27, he was largely unsure about how widespread the problem really was. He says he repeatedly asked Sachin Tendulkar and Rahul Dravid whether anyone had approached them about fixing or betting, and that their answers were “no”. He also checked with Anil Kumble, again getting no indication. Ganguly later led India to the 2003 ODI World Cup final.
Chief Justice of India Surya Kant and Justice Joymalya Bagchi lambasted a lawyer who had been “pursuing” a senior advocate designation, warning that the status is conferred, not chased. In a sharply worded exchange, the bench compared some unemployed youngsters to “cockroaches” who later become media, social media and RTI activists, alleging they then “attack the system.” The court also flagged doubts about degree genuineness, with a possible CBI check. The lawyer apologized and withdrew.
A Comcast settlement tied to a late-2023 data breach is driving a nationwide scramble, with eligible customers potentially receiving up to $10,000. The alleged cyberattack, reportedly affecting October 16–19, exposed sensitive account details including usernames, passwords, partial Social Security numbers, dates of birth, and secret recovery questions. Comcast denies wrongdoing but agreed to pay $117.5 million. Claim forms must be filed by August 14, with final court approval expected in July 2026.
Iran’s foreign minister Abbas Araqchi said Tehran has “no trust” in the United States and will negotiate only if Washington is genuinely serious. Talks to end the Iran conflict are stalled after both sides rejected new proposals during Pakistan-mediated efforts. While Iran says vessels not at war with it may pass the Strait of Hormuz if they coordinate with Iran’s navy, Araqchi warned the situation remains “very complicated,” with Iran still prepared to resume fighting. Nuclear issues and Hormuz control are key hurdles.
Romelu Lukaku is back in Belgium’s World Cup squad, earning his fourth tournament place after a frustrating injury stretch. The Napoli striker, 33, had not played for Belgium for almost a year and has managed only five Serie A matches this season. His selection comes after he withdrew from earlier friendlies over fitness concerns. Belgium also includes World Cup stalwarts Kevin de Bruyne and Thibaut Courtois, with Axel Witsel heading into his own fourth campaign as well.
Former R&AW chief Samant Goel has rejected calls to shrink Prime Minister Narendra Modi’s security and convoy for fuel savings, arguing it would harm national interest. In comments to ANI, he said the threat picture has evolved, with risks like drones and sniper attacks, and that even leaders in “safe” countries have been targeted. Goel also stressed security planning is threat-based, that anonymity of vehicle movement matters, and that SPG mandatory protections must remain intact.
A serious injury to Delhi University professor Sangeeta Sharma inside Jaypee Greens in Greater Noida has revived scrutiny of an Allahabad High Court ruling meant to regulate stray dog feeding. The 2024 order required six designated feeding points, fixed timing, and a ban on feeding near towers, parks, roads and pathways. Residents allege the directions are routinely ignored, with dog packs roaming across the 465-acre township, leaving senior citizens afraid to walk even as some violations reportedly face no real enforcement.
The Reserve Bank of India has imposed a Rs 3.1 lakh penalty on IIFL Finance after a supervisory inspection found regulatory compliance failures. RBI said IIFL Finance did not pay certain borrowers the surplus proceeds from auctions of pledged gold items, over and above the loan outstanding. Separately, RBI fined Appnit Technologies Rs 5.8 lakh for KYC and prepaid payment instrument violations, including allowing Aadhaar OTP e-KYC based PPI accounts to run beyond one year without required identification. RBI cited these issues as compliance deficiencies.
A viral video from Bihar’s Shahpur Patori railway station shows a mother bracing her body under an oncoming train while reportedly two children and another woman were trapped on the tracks. As the train approached at speed near Malhera, the footage captures the woman shielding the children and nearly getting pulled away before someone steadied her. After the train passed, bystanders rushed to help. Reports say the women were injured but all survived, reigniting debate over unsafe track crossings versus foot overbridges.
Facing a deepening global fuel crisis and disruptions tied to conflict in West Asia, India’s Supreme Court has overhauled its functioning. From immediately, all hearings will be fully virtual every Monday and Friday via video conferencing to cut fuel use. For the rest of the week, Tuesday to Thursday, operations switch to a hybrid model, letting lawyers and litigants choose physical or virtual appearances. A May 15 circular also permits up to 50% of registry staff to work from home twice weekly.
Allied Blenders and Distillers, maker of Officer’s Choice whiskey, is leaning harder into premium and luxury spirits even as inflation concerns tied to the Middle East war linger. Managing Director Alok Gupta said the company is seeing strong double-digit growth in its Prestige & Above portfolio and a rising share in sales value, with profitability prioritized over mass volumes. P&A brands now make up about 47% of volumes and 58% of sales value, while margins are expected to expand to 300 bps by FY28.
PE firm Lightrock is launching its $500 million, energy-focused fund Accelerate7, aiming to back growth-stage startups across Southeast Asia, South Asia, and Sub-Saharan Africa. Lightrock expects a meaningful allocation to India, targeting companies advancing UN SDG 7 through energy storage, electric mobility, sustainable energy transition, energy financing, and related enabling tech. The fund will invest $10–$50 million per startup, backed by a requirement for commercial viability and regular impact reporting. It has already invested in Euler Motors and SolarSquare.
A Hindu party filed a caveat in the Supreme Court in the Bhojshala complex dispute, insisting it must be heard before any order is passed on appeals to the Madhya Pradesh High Court verdict. The Indore bench ruled the Bhojshala complex is a temple dedicated to Goddess Saraswati, left administration and management to the Centre and ASI, and cancelled a 2003 ASI order that had permitted Muslims to offer namaz every Friday. The High Court also directed the Muslim community to approach the Madhya Pradesh government for separate land to build a mosque.
Residents of Jaypee Greens in Greater Noida say fear has become routine after Delhi University professor Prof. Sangeeta Sharma was seriously injured in a fall while trying to escape a pack of aggressive stray dogs. Her family alleges four to five dogs chased her near her home, and a close approach caused her to lose balance. With a prior knee surgery and existing spinal issues, the impact worsened her condition. They blame inaction from society management despite repeated complaints and court directions, including issues around feeding rules.
France’s FIFA World Cup squad has been announced with Real Madrid midfielder Eduardo Camavinga and Atletico Madrid forward Antoine Griezmann omitted in a surprising move. Coach Didier Deschamps said Camavinga’s club season—marked by injuries, strong positional competition, and a disappointing run—cost him a place. Robin Risser and Maxence Lacroix earned unexpected call-ups. France open their campaign on June 16 against Senegal in New Jersey, with Kylian Mbappe expected to be central despite injury concerns.
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