Chinese authorities have uncovered a scam involving thousands of "ghost" vendors using forged documents to list on food delivery apps. The probe began after a man received a cake with an inedible decoration and reported the outlet. Officials found the bakery had no physical presence despite claiming 400 locations. Authorities have imposed over $500 million in fines on major platforms.

Andhra Pradesh is set to become the first state to announce a policy allowing private firms outside the power industry to apply for a discom licence, ThePrint reported. Under the policy, firms with more than 300 megawatts (MW) of power requirement can apply. The move aims to meet the needs of large data centres, steel plants and other manufacturers.

US remains the world's top destination for ultra-rich individuals, with more than 2,51,352 ultra-high-net-worth individuals (UHNWIs) worth over $30 million, according to Knight Frank's Wealth Report 2026. US is followed by China with 1,21,677 UHNWIs, Germany (38,215), UK (27,876) and France (21,518). India ranked sixth with 19,877 UHNWIs followed by Japan (18,914) and Switzerland (17,692).

Warner Bros Discovery's shareholders on Thursday approved the company's proposed $110 billion merger with Paramount Skydance. The deal was announced in February after Netflix withdrew its bid to buy the studio's assets. Stakeholders will receive $31 in cash for each share of Warner Bros common stock they own once the agreement goes through, Bloomberg reported.

AMD slipped 0.5% premarket but holds above $300, aiming for a seventh weekly gain. The chipmaker recently unveiled its new Ryzen 9 processor. Analysts predict 38% revenue growth to $9.87 billion for Q1 earnings in May. Strong AI demand and robust analyst support continue to fuel the rally.

Filmmaker Nikkhil Advani said the Indian film industry continues to rely on star-led economics for theatrical releases, even as OTT platforms reshape storytelling. Speaking on a podcast, he highlighted challenges in scaling globally, evolving audience behaviour, and how data and platform feedback are influencing content creation.

Union Bank share price fell 8.27% to ₹178 after Q4FY26 results. Net profit rose 5.96% QoQ to ₹5,316 crore, while NII stood at ₹9,406 crore. FY26 profit came at ₹18,697 crore. Gross NPA declined to 2.82% and Net NPA to 0.48%. CASA ratio improved to 35.21%, with dividend at ₹5 per share.

Patel Engineering share price rose 1.31% to ₹28.72 after securing ₹1,593.08 crore project from SJVN subsidiary for 669 MW Lower Arun Hydropower in Nepal. The project includes tunnels, shafts and powerhouse, to be completed in 54 months. The order strengthens hydropower portfolio and adds to international infrastructure pipeline.

Indian Railway Finance Corporation remains key to ₹2.93 lakh crore railway capex with AUM over ₹4.75 lakh crore and zero NPA. LIC increased its stake to 2.54% from 1.10%, while FIIs rose to 1.16%. The stock trades at 19.8 PE and gained nearly 18% in one month, reflecting strong investor interest and growth outlook.

Jio Financial Services entered into a 50:50 joint venture with Allianz for general and health insurance. The partnership combines a digital ecosystem with global insurance expertise to expand financial services. Both will explore the life insurance segment. The move supports "Insurance for All 2047" and strengthens presence in the growing insurance market.