Stories from earlier this week and beyond.
Nida Khan, accused in a sexual harassment and forced conversion case linked to TCS Nashik, has been remanded to police custody until May 11. A TCS employee, she was arrested after reportedly being on the run. Earlier, the court rejected her anticipatory bail, alleging a systematic brainwashing plan behind the coercion.
Truecaller is cutting around 70 jobs after its ad revenue fell sharply, dropping 44% year over year. The company’s reduced advertising income is cited as the main driver behind the layoffs, reflecting tougher conditions for ad-based monetization. The move signals increased cost pressure as the firm adjusts its operations to a weaker revenue cycle.
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The MV Hondius cruise ship, marooned off Cape Verde since Sunday after a hantavirus outbreak, has departed for Spain. Reuters reports that three people—two seriously ill—were evacuated, while three of eight confirmed cases have died. Nearly 150 passengers and crew remain on board as authorities manage evacuation and assess health risks during the voyage.
The RBI has imposed penalties on YES Bank and Hinduja Housing Finance, citing failures in implementing a system to use the KYC Identifier issued by the Central KYC Records Registry. The regulator said the banks did not put the required mechanism in place for establishing account-based customer relationships, triggering enforcement action over compliance lapses.
Doctors and sleep experts say sleeping on your stomach can cause chest pain, breathing problems, and poor spinal alignment. They warn the posture may contribute to costochondritis, inflammation around the ribs and breastbone, by adding pressure to the chest and airways during sleep. Harvard Medical School and the Sleep Foundation point to side sleeping or well-supported back sleeping as healthier alternatives.
Digital lender Kissht made a strong BSE debut, opening at Rs 191 and climbing to Rs 208 by market close, implying a premium over its IPO price. The listing values the company at about Rs 3,511 crore. Early investors are seeing meaningful gains, supported by Kissht’s rapid growth in AUM and revenue as the market watches its next moves.
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Swiggy founder Sriharsha Majety says the current quick commerce frenzy mirrors earlier telecom booms, where aggressive spending decided winners and losers. He argues strategic clarity matters most during cycles of heavy investment, and stresses Swiggy is balancing growth with profitability. The goal, he says, is long-term durability, not sacrificing market share for short-term relevance.
U.S. stocks rose sharply at Friday’s open after a robust employment report eased fears that the labor market was cooling. Investors leaned into the momentum as chipmaker shares rebounded, lifting sentiment across the board. Early gains were broad, with the Dow, S&P 500, and Nasdaq all moving higher in response to the data-driven turn.
An Iranian official says overnight US actions in and near the Strait of Hormuz and the Makran Sea struck an Iranian cargo vessel near Minab, triggering a fire. Mohammad Radmehr said 10 sailors were wounded and five are missing, with the incident escalating tensions in one of the world’s most important shipping corridors.
Nepal says it wants to resolve its border dispute with India through diplomatic channels. It has outlined its position on Lipulekh and the planned Kailash Mansarovar journey using Nepalese territory, arguing the case should be judged by historical agreements and evidence. The renewed push follows India’s rejection of Nepal’s territorial claims over Lipulekh.
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Nintendo and Sony are dealing with sharply higher costs after memory chip prices jumped, a trend tied to AI-driven demand straining chip supply. That pressure is now feeding into console pricing, with Nintendo’s Switch 2 set for price hikes in Japan and the US, and Sony having raised PS5 prices earlier.
Actor-politician Joseph Vijay is poised to form the next Tamil Nadu government after Governor Rajendra Vishwanath Arlekar gave the go-ahead. Vijay is expected to take oath as Chief Minister tomorrow. The Communist Party of India and the Communist Party of India Marxist have pledged support to Vijay’s Tamilaga Vettri Kazhagam, reshaping the political balance as the state’s leadership transition nears.
Justin Kluivert is set to return for Bournemouth after four months out with knee surgery, giving a major lift to both his club hopes and his standing for the Netherlands ahead of the World Cup. The 27-year-old has not played since early January, but is expected to be in Bournemouth’s squad soon—watching closely for a comeback impact.
Bank of Baroda posted a record Q4 net profit of Rs 5,616 crore despite higher provisions. The result was supported by stronger net interest income and improving asset quality, with management highlighting better balance-sheet metrics. The bank also outlined FY27 growth guidance and approved a Rs 6,000 crore capital raising plan to fund future expansion.
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India’s senior management has reportedly asked the BCCI to bring Punjab Kings’ Sairaj Bahutule on board as the senior men’s team spin bowling coach. Sources say the former Indian spinner, currently working as a spin coach, has been proposed to strengthen India’s spin department—pending BCCI discussions and approvals.
The AICC is in a tight spot over the Kerala CM post as frontrunners KC Venugopal and VD Satheesan refuse to soften their claims. With key talks underway in Delhi, protests have also erupted over allegations that MLAs are being pushed to back Venugopal. Satheesan reportedly wants the CM role or plans to stay out of the cabinet.
Celcius Logistics and Ottobock India have opened a new warehouse in Thane, Maharashtra, to store and distribute prosthetics and other critical medical devices. The partnership is designed to strengthen the delivery network for high-value products and improve nationwide access to prosthetic solutions. Capacity is expected to grow by 25% next year.
Indian venture capital funding fell in the first week of May as fewer deals closed and no high-value transactions materialised. Total funding dropped to $129 million across 19 deals versus $219 million the prior week. With weekly deal counts hovering near 20 and no clear investment theme, startups face tougher capital raising—though hope remains for a steadier second half.
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Maharashtra has ordered strict implementation of the POSH Act following a serious incident at a Nashik TCS unit. Establishments with 10 or more employees must set up Internal Complaints Committees and register on the She-Box portal. Failure to comply can trigger penalties up to Rs 50,000 and even cancellation of licenses, tightening enforcement across workplaces.
Swiggy and Urban Company ended the March quarter in losses, even as their revenues rose, underscoring the tough squeeze between growth and profitability. In the same ETtech Top 5, Zepto reportedly received an IPO go ahead, signaling a different path for new-age startups navigating investor expectations.
China has publicly acknowledged providing on site technical support to Pakistan during the conflict with India last May, describing the wartime role of engineers from its Aviation Industry Corporation. The admission includes assistance to Pakistan’s J 10CE fighter jets, and is being seen as the first confirmation of Chinese personnel involvement in such operations, underscoring deepening military cooperation.
Supporters have gathered outside TVK headquarters as C Joseph Vijay’s party gains crucial backing from Left parties in Tamil Nadu. With TVK now at 108 seats, it is close to the required majority. Vijay is set to meet the Governor to stake his claim, signaling a potential reshaping of the state’s political balance.
Uber-backed electric bike and scooter maker Lime has filed for a US initial public offering, citing a sharp rise in yearly revenue. The company’s decision comes as the US IPO market shows signs of recovery. Lime says it will use IPO proceeds to support operations and repay debt, while continuing to expand across multiple cities globally.
Cloudflare shares fell after the company’s revenue forecast missed investor expectations, even as its stock had recently rallied. The firm also plans to cut staff by 20%, saying more work is being handled through AI tools. Analysts warned that higher AI infrastructure spending is squeezing profit margins, though some investors still see upside ahead.
Lime, the Uber backed micromobility company known for bikes and scooters, has filed for an initial public offering. After years of hints and behind the scenes preparation, the company is moving into the public markets, signaling a new phase for its growth plans and capital needs as competition and regulation intensify.
Allegations say hackers accessed around 275 million student records through the Canvas platform, rattling schools and universities across multiple countries. Students and staff reportedly feared exposure of private messages, academic details, emails, and personal data. Experts caution this may be far bigger than a typical school cyber incident and are closely watching whether the breach timeline extends beyond the initial attack.
U.S. and Iranian forces clashed in the Gulf and the Strait of Hormuz, each accusing the other of breaching a ceasefire. The flare-up followed renewed attacks involving the UAE, even as President Donald Trump said diplomacy remains on track and the ceasefire is holding. The crisis has also pushed oil prices above $100.
A viral video from Katihar railway station in Bihar shows a woman allegedly applying a green liquid to cucumbers, triggering food safety concerns online. Authorities are being urged to investigate thoroughly, especially since the incident comes after a prior Vande Bharat Express issue where worms were reportedly found in curd.
Actor Vijay’s TVK has moved the Supreme Court asking it to direct the Tamil Nadu Governor to invite the party to form the government. TVK finished as the single-largest party in the recent assembly polls, but falls short of the majority. Vijay has met the Governor twice, and now the party is seeking judicial intervention to break the impasse.
Defence Minister Rajnath Singh praised Operation Sindoor, saying it reflects India’s growing joint military capability. He urged commanders to remain prepared as security threats evolve and emphasized integrating advanced technologies such as AI and secure networks. Singh warned that future conflict will likely blend hybrid warfare across multiple domains, requiring jointness and innovative thinking to stay ahead.
Avi Polymers has approved acquiring a 90% stake in JVTR Consultants Pvt Ltd for Rs 500 crore through a share swap. The deal is meant to help Avi Polymers move deeper into technology and digital services, including IT services and software development. Management says it supports a more diversified, future-focused business strategy.
India’s 10-year bond sold off sharply, marking the month’s worst decline, as an auction rout rattled investors. The move comes as geopolitical stress in the Gulf adds pressure to global risk sentiment, pushing yields higher. President Trump said a ceasefire remained in place despite renewed fighting, but markets focused on volatility.
India’s labour market is changing shape, SBI Research says. Over 37 years, agriculture’s share of employment has eased by about 23%. Meanwhile, large enterprises employing more than 20 workers now account for 13.7% of the workforce, up from 10.8% in 2024, tied to a renewed manufacturing push. The report also flags regional gaps in conditions.
RBI data indicates bank credit growth quickened to 16 percent in the fortnight ending April 30. Deposits also climbed, recording 12.3 percent year-on-year growth, alongside rising system-wide totals for both credit and deposits. The credit-deposit ratio stood at 82.01 percent, signaling how money is being allocated across lending and savings.
Uttar Pradesh homeowners can now raise online complaints against builders for alleged illegal transfer charges. UP-RERA has launched a mechanism that lets successors of deceased allottees challenge unlawful demands. After a regulatory amendment, processing fees are capped at Rs 1,000 for family transfers and Rs 25,000 for non-family transfers, aiming to curb overcharging.
India’s foreign exchange reserves fell by $7.794 billion to $690.693 billion by May 1, after a prior decline that followed a February record high. The drop was mainly driven by lower foreign currency assets and a sharp fall in gold reserves, adding fresh pressure on the rupee amid shifting global conditions.
Amazon says its North Virginia cloud services are largely back online after an unexpected overheating incident triggered outages across multiple offerings, including Coinbase. It’s the second recent disruption tied to temperature issues at Amazon data centers. The company is working to fully restore capabilities, with analysts expecting several hours before services stabilize completely.
Households across India are reporting SMS alerts demanding they surrender LPG cylinders under the “One Household, One Gas Connection” policy. The move targets families with active PNG (piped natural gas) connections, aiming to curb black marketing and improve cooking-gas distribution. Consumers can verify their connection status online or by contacting customer care to understand next steps.
Tristan da Cunha, a remote island famed for isolation, is investigating a suspected hantavirus case tied to the cruise ship MV Hondius. A British traveler who was aboard the vessel is currently under observation for symptoms. The concern is heightened because the same ship has been linked to previous fatalities, prompting intensified contact tracing and health monitoring.
Microsoft has launched its first-ever voluntary retirement programme for eligible US employees, potentially affecting about 8,750 people as the company restructures. Staff meeting an age plus service threshold can opt to leave, with expanded healthcare support, severance tied to tenure, and accelerated vesting. The move comes alongside changes to performance and compensation reviews.
CPI, CPI(M) and VCK have shifted course in Tamil Nadu politics, extending support to Vijay’s Tamilaga Vettri K Kazhagam after rejecting a DMK-AIADMK proposal. The move marks a major break from DMK ahead of government formation, with TVK closing in on the 118-seat threshold. The fractured mandate is now rebalancing alliances for the next regime.
Experts are backing over the counter access to nicotine replacement therapy in all formats and dosages, including 2 mg and 4 mg, as India’s tobacco quit success rate remains under 5%. The report also flags the heavy financial toll of tobacco on low-income households, arguing that cutting consumption can improve welfare and boost economic mobility.
Suicide deaths in India’s farm sector declined slightly in 2024 for the second straight year, with NCRB data recording 10,546 cases. Maharashtra reported the highest number of farmer suicides, followed by Karnataka, while several states recorded none. Crop insurance and income support schemes are cited as possible contributors to the reduction.
Hyundai Motor India is planning Rs 7,500 crore in capex by FY27, targeting a comeback to reclaim the No 2 spot in India’s passenger vehicle market. The company expects 8-10% growth in domestic sales and exports and will launch two new models this year, including a mass-segment electric SUV aimed at boosting scale and competitiveness.
After being named West Bengal Chief Minister, BJP leader Suvendu Adhikari used his first address to promise restoring Bengali pride and delivering on party promises. He also announced his government will form a panel aimed at probing alleged corruption linked to the TMC, setting an early tone for accountability and political confrontation in the new administration.
US employers added 115,000 jobs in April, topping expectations even as the Iran war disrupted oil supplies and pushed gas prices higher. The unemployment rate held steady at a low 4.3%, signaling resilience for now. Still, economists caution the conflict’s economic effects could take longer to show up in hiring and the broader labor market.
A cruise ship in the South Atlantic has triggered a major health emergency after confirmed hantavirus infections and multiple deaths. Passengers reportedly developed flu-like symptoms that quickly worsened into severe respiratory complications following visits to Antarctica and remote islands. Public health teams from multiple countries are coordinating an investigation to trace exposure, including links to 12 nations directly or indirectly tied to the ship’s route.
Enterprises chasing the “GPU scramble” now face a harsh reality: enterprise average utilization is stuck near 5%, leaving GPUs as depreciating, idle CapEx. Gartner projects $401B in new AI infrastructure spending, but a shift is underway toward inference-first economics, tighter TCO, and governance that trusts the data powering agentic systems.
Meta is phasing out WhatsApp avatars, including the ability to create, edit, or use them as profile pictures or stickers. The change marks a retreat from the company’s earlier metaverse push, which never won broad user adoption. Meta is now prioritizing core messaging features that people actually use.
India’s Union Health Ministry is monitoring a hantavirus outbreak aboard the cruise ship MV Hondius after three deaths and five confirmed infections. So far, there are no reported cases on Indian soil, and national surveillance systems are active. The virus is identified as the Andes strain, which shows limited human-to-human transmission, while WHO rates the overall public health risk as low.
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