Business News
No jargons, no mumbo-jumbo. Read the unadulterated Business news here.
PNB sets aside up to ₹8,000cr for cybersecurity this year
Punjab National Bank is allocating up to ₹8,000 crore for cybersecurity this fiscal year, marking a 50% increase from last year to combat rising digital and AI-related risks.
Air India's Bengaluru aircraft maintenance facility delayed until 2027
Air India’s Bengaluru MRO facility commissioning has been postponed to early 2027 due to shortages of high-grade steel and bolts, stalling construction progress.
India to unify financial cybersecurity rules by December 2026
India plans to launch a unified cybersecurity framework for banking, insurance, and financial markets by year-end, addressing AI-driven cyber risks like Anthropic’s Mythos.
Samsung hits $1T valuation on AI chip demand
Samsung Electronics has reached a major milestone, hitting a $1 trillion market valuation. The achievement comes on the back of skyrocketing demand for artificial intelligence (AI) chips.
India grid curbs renew energy global solar output, 15% unused
ReNew Energy Global faces up to 15% solar power wastage as India's grid struggles to absorb peak generation, risking profits and highlighting infrastructure delays.
India's small-caps rally as Nifty Smallcap 250 extends 20% rebound
India's Nifty Smallcap 250 Index has surged 20% from March lows, driven by renewed retail investor interest and stronger growth prospects in smaller companies.
Oil prices fall as Trump pauses military operation in Hormuz
Oil prices fell on Wednesday after US President Donald Trump announced a temporary halt to the naval escort effort in the Strait of Hormuz. The decision has sparked hopes for a possible deal with Iran.
Poonawalla Fincorp posts ₹254.79cr March quarter profit, shares jump 6%
Poonawalla Fincorp shares jumped 6% after reporting a Q4 standalone net profit of ₹254.79 crore, marking a sharp rise from ₹62.33 crore in the same period last year.
India's services PMI hits 58.2 in April on domestic demand
India’s services PMI climbed to 58.2 in April 2026, reflecting strong domestic demand, after easing to a fourteen-month low in March at the close of FY26.
Anthropic's Mythos uncovers tens of thousands of unreported software vulnerabilities
Dario Amodei, CEO of Anthropic, warns US institutions they have months to address software vulnerabilities uncovered by Mythos AI before China’s models catch up and risks escalate.
China's CSI300 index hits 4 year high on AI optimism
China's blue-chip index surged to a four-year peak as tech stocks rallied, fueled by global AI enthusiasm and signs of domestic economic resilience boosting investor sentiment.
India's ODI outflow hits $26.7 billion in FY26 up 84%
India's overseas direct investment (ODI) outflow surged 84% to $26.7 billion in FY26 from $14.5 billion in FY24, with Singapore receiving the highest share at $7.6 billion.
Microsoft's Satya Nadella urges firms to redesign work with AI
Microsoft CEO Satya Nadella emphasizes the need for businesses to rethink work structures as AI-powered agentic systems take over execution-heavy tasks, expanding human agency.
RBI issues draft rules on banks' handling of seized assets
The Reserve Bank of India has proposed draft norms to standardise how banks manage non-financial assets acquired during loan recovery, focusing on transparency and timely disposal.
Employee unions ask 8th Pay Commission for 5-year reviews
Employee unions advocate reducing the Pay Commission cycle from 10 to 5 years, citing inflation and sectoral wage revisions as key reasons for faster salary adjustments.
L&T Q4 revenue ₹82,762 cr, net profit down, shares fall
Larsen & Toubro shares fell 4% after Q4 results revealed a 3% profit dip and cautious FY27 outlook, unsettling investors despite an 11% revenue growth.
Aurobindo Pharma shares jump nearly 2% after Telangana plant vai
Aurobindo Pharma shares rose nearly 2% after the USFDA classified its Telangana Unit-VII facility as "Voluntary Action Indicated" (VAI), signaling no regulatory action is required.
Indian companies to invest over $20.5 billion at SelectUSA Summit
Indian firms plan to invest over $20.5 billion in US sectors like technology, pharmaceuticals, and manufacturing, creating jobs and strengthening bilateral business ties.
Oil falls as US pauses Project Freedom after Trump comment
Crude oil futures declined as US President Trump indicated significant progress toward a potential agreement with Iran, easing tensions and impacting global oil market dynamics.
Markets open strong with Sensex 77,602.91 and Nifty 24,221.25
Indian equity markets opened strong on May 6, with Sensex surging 585 points to 77,602.91 and Nifty climbing 188 points to 24,221.25, driven by global optimism.
Rupee rises to 95.04 against US dollar after oil dip
The rupee opened 24 paise higher at 95.04 against the dollar, supported by a dip in Brent crude prices to $108 a barrel amid easing US-Iran tensions.
Indian rupee opens 95.04/USD, snaps 5-day slide after Trump hint
The Indian Rupee opened 25 paise higher at 95.04 per dollar, snapping a five-day losing streak, as oil prices eased following U.S. signals of a potential Iran peace deal.
Chinese court bars firing workers for AI replacement under law
A Chinese court ruled that companies cannot fire employees solely to replace them with AI, emphasizing labor market stability amid rapid technological advancements.
PNB raises cybersecurity budget by over 50% to 700-800cr
Punjab National Bank is increasing its cybersecurity budget by over 50% this year, allocating ₹7-8 billion to counter advanced AI risks like Anthropic's Mythos.
Fintechs roll out local-language voice tools in Tier-two, Tier-three India
Fintechs are leveraging voice-led, vernacular-first solutions to simplify financial tools, enabling Tier 2 and Tier 3 city users to transition from saving to wealth creation.
Gold and silver rise as dollar weakens and oil dips
Gold prices rose 1.41% to $4,632.90 per ounce, while silver gained 2.49% to $75.41 as a weaker dollar and declining Brent crude supported precious metals on May 6 trade.
Freshworks cuts 500 jobs amid push to automate with AI
Freshworks is cutting 11% of its workforce, impacting 500 employees, as it integrates AI into operations. Q1 revenue rose 16% year-on-year to $228.6 million.
NLC India signs EDF deal for nuclear EPR and SMR
NLC India has joined hands with EDF to explore advanced nuclear technologies, including EPR and small modular reactors, boosting India's clean energy goals.
CII's Rajiv Memani says Indian firms plan ₹41tn FY26 investment
Investment announcements by India Inc surged 50% to Rs 41 lakh crore in FY26, driven by robust pipelines in energy and utilities despite cautious corporate strategies.
Oil eases as U.S.-Iran talks advance, President Trump pauses escorts
Crude oil prices dropped 6% over two sessions as U.S. President Trump hinted at progress toward a peace deal with Iran, raising hopes for restored Middle East supply routes.
Gold rises over 1% as dollar weakens and oil falls
Gold prices climbed over 1% as a weaker dollar and easing oil prices reduced inflation concerns, driven by optimism surrounding potential U.S.-Iran peace negotiations.
Gold and silver rebound after oil drop, gold at $4,633.70
Gold prices climbed 1.43%, while silver surged 2.36% on Wednesday, as easing crude oil prices and dip buying supported a mild recovery in global bullion markets.
Indian companies pledge over $1.1B at SelectUSA, around 1,500 jobs
Twelve Indian companies announced $1.1 billion investments across aerospace, defense, energy, and AI sectors at the SelectUSA Summit, creating 1,500 jobs in the United States.
Super Micro Computer forecasts $11 to $12.5B on AI demand
Super Micro Computer projects strong Q4 results, driven by soaring demand for customized AI servers, sending shares up 18% in extended trading amidst booming AI investments.
South Korea's KOSPI tops 7,000 at 7,318.8 on tech rally
South Korea's Kospi index surged 5.5% on May 6, crossing the 7,000-mark and reaching a record high of 7,318.8 points amid strong global equity momentum.
Gold rises 0.8% to $4,593.11 after Trump cited U.S.-Iran progress
Gold prices climbed 0.8% to $4,593.11 an ounce as the dollar weakened, following US President Donald Trump's announcement of "great progress" in talks with Iran.
Jammu and Kashmir Bank posts 4th straight record profit ₹2,363.47cr
Jammu and Kashmir Bank achieved its highest-ever annual profit of ₹2,363.47 crore in FY26, marking a 13% growth from the previous year’s ₹2,082.46 crore.
Asian stocks rise after President Trump shares easing U.S.-Iran tensions
Asian stocks hit record highs as optimism over US-Iran negotiations boosted tech shares, while Brent crude prices dropped amid easing geopolitical tensions.
Samsung hits $1 trillion market value amid AI memory boom
Samsung Electronics Co. has achieved a $1 trillion market valuation, becoming the second Asian company after TSMC to reach this milestone amid surging AI-driven chip demand.
Anthropic signs 5-year Google Cloud $200B deal powering Claude AI
Anthropic will spend $200 billion on Google Cloud over five years, boosting Google's revenue backlog and deepening their partnership in the competitive AI landscape.
Oil prices slide as President Donald Trump pauses Hormuz reopening
Oil prices declined after Donald Trump paused efforts to reopen the Strait of Hormuz, sparking hopes for negotiations despite ongoing supply risks and geopolitical tensions.
OpenAI and Anthropic private equity deals may reshape India's IT
OpenAI and Anthropic are leveraging private equity partnerships to accelerate AI adoption in enterprises, posing direct competition to traditional IT services firms.
SAP to acquire Prior Labs, invest €1 billion in AI
SAP is acquiring German AI startup Prior Labs and plans to invest €1 billion over four years, aiming to advance tabular foundation models and integrate NemoClaw into its ecosystem.
Reliance to spend billions on LEO satellites via Jio Platforms
Reliance Industries plans a multi-billion dollar investment in low earth orbit satellites, aiming to rival global players like Starlink and strengthen India's satcom presence.
AI and semiconductor boom shrinks India's 5th-biggest stock market gap
Taiwan and South Korea's equity markets are surging, driven by semiconductor and AI-linked stocks, bringing their market capitalisations close to India's $4.9 trillion.
S&P 500 and Nasdaq hit records as AI fuels rally
US stocks soared to record levels, driven by strong corporate earnings and gains in AI-related sectors, while oil prices dipped amid geopolitical tensions and demand concerns.
ASML's exclusive EUV machines make it Europe's most valuable firm
ASML's CEO Christophe Fouquet asserts the company's unmatched expertise in EUV lithography technology, built over decades, remains its strongest defense against competitors.
Freshworks cuts 500 jobs as AI writes half its code
Freshworks announced plans to reduce its workforce by 11%, or about 500 jobs, as AI-driven automation reshapes the software industry and impacts traditional business models.
Subway closes 729 US stores in 2025, cites franchise support
Subway closed 729 US locations last year, marking its 10th consecutive year of downsizing, while McDonald’s continues to strengthen its position in the fast-food market.
Christopher Landau says India and US trade deal near completion
India and the US are on the verge of finalizing a trade deal, with only minor hurdles remaining, according to US Deputy Secretary of State Christopher Landau.
Brockman: Elon Musk sought $80B for Mars with OpenAI control
Elon Musk sought $80 billion to establish a self-sustaining city on Mars, OpenAI president Greg Brockman testified, revealing Musk's push for full control of OpenAI in 2017.
LPG jump to over ₹3,000 squeezes profits in Tiruppur, Noida
A sharp rise in commercial LPG prices has escalated operational costs for textile exporters in Tiruppur and Noida, squeezing margins as global buyers demand cheaper products.
Mahindra Group targets over ₹4,100cr from automotive AI by FY2027
Mahindra Group is leveraging AI across operations, targeting ₹4,100 crore revenue in the automotive sector by FY27 and enhancing customer satisfaction by 2-3 percentage points.
Blackstone-backed Bagmane Prime Office REIT IPO 71% subscribed Day 1
The Blackstone-backed Bagmane Prime Office REIT IPO was 71% subscribed on its first day, receiving bids for over 10.55 crore units against 14.79 crore on offer.
Rajiv Memani warns India GDP may dip to 6.5%
India's GDP growth may drop to 6.5% this fiscal if the Iran war persists, warns CII president Rajiv Memani, citing disruptions in global supply chains and investor sentiment.
Gold rises 0.8% as bargain hunters buy and oil dips
Gold prices rose 0.8% on Tuesday, rebounding from a one-month low, as investors weighed Middle East tensions and their potential impact on inflation and interest-rate expectations.
Dollar slips, U.S.-Iran ceasefire holds, euro and pound nudge up
The U.S. dollar edged lower on Tuesday as markets assessed the stability of the Iran ceasefire, while geopolitical tensions and trade developments influenced currency movements.
Anthropic AI rollout dents Thomson Reuters shares despite Q1 beat
Thomson Reuters shares dropped up to 5.1% despite surpassing first-quarter earnings expectations, as Anthropic's new AI tools fueled investor concerns over market competition.
Joe Gebbia hires Peter Arnell to modernize 27,000 government websites
Airbnb co-founder Joe Gebbia has named renowned designer Peter Arnell as the first U.S. chief brand architect to revamp government websites and improve user experience.
Nasdaq hits record as AI and chip stocks surge
The Nasdaq reached a record high, driven by Intel's 14% surge and strong performance in AI-related stocks, as investors focused on robust earnings and semiconductor sector gains.
Sahi raises $33 million in Accel-led round for retail traders
Sahi, a platform for active retail traders, raised $33 million in Series B funding led by Accel to scale its technology-driven brokerage services in India’s growing trading market.
ESG funds: Understanding this financial option
Environmental, social, and governance (ESG) funds are becoming increasingly popular among Indian investors looking to make a positive impact.
L&T's Q4 results: Net profit down 3% to ₹5,326cr
Larsen & Toubro (L&T) has announced a 3% year-on-year decline in its consolidated net profit for the fourth quarter.
Why Nykaa has been sued by Zee Entertainment
Zee Entertainment has filed a lawsuit against Nykaa, accusing the latter of using its copyrighted songs in Instagram reels for product promotion.
SBI customers brace for 4-day disruption amid upcoming staff strike
The State Bank of India (SBI) is likely to witness service disruptions later this month.
Cognizant may cut 12,000-15,000 jobs globally
Cognizant, a leading IT services company, is considering a major workforce reduction that could affect between 12,000 and 15,000 employees worldwide, as per Moneycontrol.
M&M Q4 profit rises 42% YoY to ₹4,668cr
Mahindra and Mahindra (M&M) has announced a 42% year-on-year jump in its consolidated net profit for the fourth quarter of FY25-26.
India's cash withdrawals jump 12%, highest since 2017 demonetization
India is witnessing a major shift in its cash economy as currency in circulation (CIC) has increased by over ₹61,000 crore in the first half of April.
How Amazon's latest move triggered a global logistics stock selloff
Amazon announced a new suite of logistics services, sending shockwaves through the industry.
Google parent Alphabet wants to raise $3.5B via bond sale
Alphabet Inc, the parent company of Google, has returned to the euro market with a mega bond deal.
PNB's Q4 results: Net profit rise 14% YoY to ₹5,225cr
Punjab National Bank (PNB) has reported a strong 14% year-on-year increase in its net profit for the fourth quarter of FY26.
This data center operator is planning $900M IPO in India
Yotta Data Services, a leading player in India's data center market, is planning an initial public offering (IPO) in Mumbai.
Sensex tanks nearly 750 points: What's behind today's decline?
The Indian stock market witnessed a major slump on Tuesday, with the Sensex plummeting by almost 750 points.
Ex-JPMorgan banker faked father's death to get bereavement leave
Chirayu Rana, the former JPMorgan Chase banker, who accused a female colleague of forcing him to become her "sex slave," faked his father's death to take nearly three months of paid leave, The New York Post reported.
OpenAI sales head departs amid intensifying AI competition
James Dyett, the sales leader at OpenAI, has announced his departure from the company. He joined OpenAI in 2023 during a period of rapid growth after the launch of ChatGPT.
Canadian musician sues Google over false sex offender claims
Canadian fiddler Ashley MacIsaac has filed a $1.5 million lawsuit against Google, accusing the tech giant of defamation.
Meet Claire Mazumdar, Kiran Mazumdar-Shaw's successor at Biocon
Kiran Mazumdar-Shaw, the Founder and Chairperson of Biocon, is considering a succession plan for the company.
Will Damodar Valley Corporation finally make stock market debut?
The Bharatiya Janata Party's (BJP) victory in the West Bengal assembly elections has revived hopes of an initial public offering (IPO) for Damodar Valley Corporation (DVC).
Musk v/s OpenAI trial heats up as Greg Brockman testifies
The legal battle between Elon Musk and OpenAI continued on Monday.
Elon Musk tried to settle OpenAI case before court battle
Elon Musk reached out to OpenAI's president Greg Brockman just two days before his multibillion-dollar lawsuit against them was set to go to trial.
Musk settles SEC case over Twitter stake for $1.5M
Elon Musk has settled a civil lawsuit with the US Securities and Exchange Commission (SEC) over his delayed disclosure of initial purchases in Twitter, now known as X.
Why Unacademy is being sold at 90% discount
Edtech giant UpGrad is set to acquire rival platform Unacademy in an all-stock deal. The acquisition comes after months of negotiations and is expected to be finalized soon.
Gold rises as crude oil prices stoke inflation fears
Gold prices in global markets witnessed an increase on May 5, while silver saw a minor dip. The movement is being attributed to high crude oil prices and geopolitical tensions.
India to host 4th India-Africa Forum Summit after decade-long gap
India will host the fourth India-Africa Forum Summit (IAFS-IV) in New Delhi from May 28 to 31.
Setback for Vedanta! NCLT upholds Adani's ₹15,000cr plan for Jaypee
The National Company Law Appellate Tribunal (NCLAT) has upheld the approval of Adani Enterprises's over ₹15,000 crore resolution plan for Jaiprakash Associates Ltd under the insolvency process.
India's LPG consumption nosedives 16% amid US-Iran war
India's LPG consumption has seen a major decline of 16% in April.
Global crude oil supply gap of 5mbpd may hit demand
A recent report by PL Capital has flagged a global crude oil supply deficit of nearly 4.8 million barrels per day (mbpd).
SEBI to launch C-KYC 2.0 for unified know-your-customer system
The Securities and Exchange Board of India (SEBI) is gearing up to launch C-KYC 2.0 by July this year.
BJP's West Bengal win could add 50bps to India's GDP
Market analysts have predicted that a BJP victory in West Bengal could add around 50 basis points to India's GDP.
Musk v/s OpenAI enters second week with key testimonies ahead
Greg Brockman, the co-founder and president of OpenAI, is set to testify in a lawsuit filed by Elon Musk.
Anthropic nearing $1.5B joint venture with Wall Street firms
Anthropic, a leading artificial intelligence (AI) company, is on the verge of finalizing a major joint venture with Blackstone and Goldman Sachs, according to The Wall Street Journal.
US becomes India's top LPG supplier amid Hormuz crisis
The United States has emerged as India's top supplier of liquefied petroleum gas (LPG) in April, according to data from analytics firm Kpler.
MediaTek ropes-in former TSMC executive as advisor for AI chips
Taiwanese chip designer MediaTek has appointed Douglas Yu, a former executive at Taiwan Semiconductor Manufacturing Company (TSMC), as a part-time advisor.
SEBI to issue advisory on AI risks in financial markets
The Securities and Exchange Board of India (SEBI) is set to release an advisory on the risks associated with artificial intelligence (AI) in India's financial markets.
₹145cr deposit must be paid: Delhi High Court to SpiceJet
The Delhi High Court has rejected a review plea by budget airline SpiceJet, asking it to deposit ₹144.5 crore in its long-running arbitration dispute with Kalanithi Maran and KAL Airways Pvt Ltd.
Air India board meeting on May 7: What's the agenda?
Air India's board of directors will convene on May 7 in Mumbai.
PPF or FD: Which is ideal for short-term investment?
Public Provident Fund (PPF) and Fixed Deposits (FDs) are two popular investment options for the Indian middle class.
BHEL shares surge 10% as Q4 profit skyrockets 155%
Shares of Bharat Heavy Electricals Limited (BHEL) surged by as much as 10% on Monday, following the company's strong operational performance in its fourth quarter results.
SBI-led consortium mulls ₹25,000cr loan for Vi
A consortium led by the State Bank of India (SBI) is considering a debt funding of ₹25,000 crore for telecom giant Vodafone Idea (Vi).
Ather Energy posts ₹1,175cr revenue in Q4, losses down 57%
Ather Energy has posted a revenue of over ₹1,100 crore in the fourth quarter of FY26.
Samsung appoints new TV business head amid rising market competition
Samsung Electronics has appointed Lee Won-jin as the new head of its Visual Display Business.
India's manufacturing sector rebounds but cost pressures hit 44-month high
India's private sector manufacturing activity witnessed a recovery in April, after hitting a four-year low in March.
India resumes wheat exports after 4-year pause
India has resumed wheat exports for the first time in four years, thanks to a bumper harvest and rising global prices.
Samsung family pays $8B in inheritance tax
The family behind South Korean conglomerate Samsung has paid 12 trillion won ($8 billion) inheritance tax bill.
'Let's Buy Spirit': TikTokers pledge millions to revive defunct airline
Spirit Airlines has shut down after the $500 million bailout plan was rejected by institutional equity holders.
India's richest see fortunes surge, Adani tops gains
India's top billionaires have witnessed a major recovery in their wealth, according to data analyzed by Moneycontrol.
Vodafone Idea shares jump 10% after ₹23,650cr AGR relief
Vodafone Idea's stock price surged by nearly 10% in early trade on Monday, following a major relief on its adjusted gross revenue (AGR) dues.
Meme stock GameStop bids $56B for eBay to rival Amazon
GameStop, the popular video game retailer that turned into a 2021 meme stock sensation, has made an unsolicited $55.5 billion bid to acquire eBay.
Crude dips as Trump plans to free ships in Hormuz
Oil prices have witnessed a dip following US President Donald Trump's announcement of an initiative to free ships stranded in the Strait of Hormuz.
How John Ternus's leadership could reshape Apple's financial strategy
Apple is gearing up for a major leadership transition, with John Ternus, the company's current hardware chief, set to take over as CEO on September 1, 2026.
Sensex jumps 900 points: What's behind today's rally?
The Indian stock market witnessed a major surge on Monday, with the Sensex and Nifty indices rising by nearly 1% each.
Gold, silver prices fall amid geopolitical tensions in West Asia
Gold futures slipped 0.15% lower to ₹1,51,119 per 10gm on MCX today. The decline comes as investors closely monitor the ongoing geopolitical tensions in West Asia.
Bitcoin crosses $80,000 mark for first time since January
Bitcoin has crossed the $80,000 mark for the first time in over three months.
Nestle products in India might soon become more expensive
Nestle India, the company behind popular brands like KitKat and Maggi, has hinted at possible price hikes.
Economic corridor worth ₹1L crore to come up in MP
Madhya Pradesh Chief Minister Mohan Yadav has laid the foundation stone for the ambitious Indore-Pithampur Economic Corridor.
Global mobile money transactions cross $2T mark
Mobile money transactions worldwide crossed the $2 trillion mark in 2025, a new report has revealed.
Vedanta might not distribute 30% of profit as dividend anymore
Vedanta Ltd, one of India's leading mining companies, has announced a major change in its dividend policy.
Claude Mythos threat: Government banks to ramp up IT spending
In light of global concerns over Anthropic's Claude Mythos AI tool and its potential implications for financial data security, public sector banks in India are gearing up to ramp up their IT spending.
Market cap of India's top 4 firms up ₹2.2L crore
The combined market capitalization of four out of India's top 10 most valued companies, including Reliance Industries, surged by ₹2.20 lakh crore last week.
Coal gasification incentive scheme worth ₹37,500cr to be approved soon
The Union Cabinet is likely to approve a massive ₹37,500 crore incentive scheme for coal gasification projects.
Punjab & Sind Bank eyes ₹3L crore business this year
Punjab & Sind Bank, a state-owned lender, has set an ambitious target to achieve a total business of ₹3 lakh crore by the end of the current financial year.
OPEC+ to raise oil output targets amid US-Iran war fallout
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, are expected to announce a modest increase in oil production.
India allows 100% FDI in insurance sector
The Indian government has announced a major change in the foreign direct investment (FDI) policy for the insurance sector.
India tightens FDI rules for Pakistan, other land-border countries
India has tightened its foreign direct investment (FDI) norms for countries sharing a land border, with specific provisions for Pakistan.
Berkshire Hathaway CEO takes cautious AI stance
Berkshire Hathaway's CEO Greg Abel has shared the company's cautious approach toward artificial intelligence (AI) and its future growth prospects.
Finance Ministry calls for faster case resolutions in DRTs
The Finance Ministry has called for quicker case resolutions in Debt Recovery Tribunals (DRTs).
India's 5th-gen stealth fighter jets to be produced in Andhra
India's fifth-generation stealth fighter jets will now be manufactured in Puttaparthi, Andhra Pradesh.