Iran lost $4.8 billion (over ₹45,000 crore) in just 19 days of the US' blockade of Iranian ports as 31 tankers carrying 5.3 crore barrels of oil remain stranded, Pentagon estimates. The blockade has redirected over 40 vessels attempting to pass through with Iranian oil. Analysts estimate Iran has up to a month before it'll need to shut oil production.

Companies adopting AI led to an increase in efficiency, which has likely backfired as they're getting paid less to deliver same or even greater volume of services, Moneycontrol reported. The resultant "AI deflation" will shave nearly $10 billion off Indian IT firms' revenues, analysts estimate. A $100-million deal could not fetch just $80 million, HCLTech CEO C Vijayakumar recently said.

Tata Electronics has expanded its workforce to 75,000, surpassing Foxconn in India to become Apple's largest contract manufacturer by headcount. Rapid growth from 15,000 in 2023 has been driven by iPhone demand, its Hosur facility, and key acquisitions. The milestone highlights India's rising role in global electronics manufacturing, though competition and talent challenges remain.

Businesswoman and philanthropist Isha Ambani made a striking appearance at the Met Gala 2026 pre-party in a custom Manish Malhotra x Swadesh bandage dress. The strapless midi dress was constructed using 26 distinct textile borders, each representing a different region of India, like intricate zari work and Parsi gara embroidery to Maheshwari weaves, kantha, Paithani from across the country.

The PFRDA clarified that under revised charges for National Pension System (NPS) subscribers, taking effect from July 2026, Annual Maintenance Charges (AMC) for Tier II accounts will be aligned with Tier I charges within same sector. No AMC will apply if balance is up to ₹1,000 at quarter-end, it added. Dormant accounts will be charged only 10% of normal AMC.

The Reserve Bank of India on Friday said that 98.47 per cent of the ₹2,000 denomination banknotes in circulation have been returned, nearly three years after it announced their withdrawal. The central bank had declared the withdrawal of ₹2,000 notes from circulation on May 19, 2023, as part of its currency management exercise.

InGovern Research Services, a corporate governance advisory firm, urged RBI to reject the application of Tata Sons to deregister itself as a Systemically Important Core Investment Company (CIC). RBI should order the company to list on domestic exchanges by March 2027, it added. It warned that without a listing, Tata Sons would remain beyond the reach of SEBI’s disclosure regime.

Meta is planning to shut down Instagram, Facebook, and WhatsApp in the US state of New Mexico in response to prosecutors' demands for changes to the company's child safety measures, according to reports. This comes as prosecutors demand changes to child accounts to rein in addictive features, improve age verification and prevent sexual exploitation. Meta called the safety demands "impossible".

Cognizant plans to cut around 4,000 jobs as it shifts toward AI-driven operations amid weak IT demand. While automation is reducing mid-level roles, the company will hire over 20,000 freshers, signaling a workforce transformation. The move reflects a broader tech industry trend where AI is reshaping jobs, focusing on efficiency and specialized skills rather than headcount.

A US judge overseeing the trial in Elon Musk's lawsuit against OpenAI said the court doesn't want arguments about AI's threat to humanity. "I suspect...there are a number of people who don't want to put the future of humanity in...Musk's hands," Judge Yvonne Gonzalez Rogers said. Her remarks came after Musk and his lawyers repeatedly raised such concerns.