Oil marketing companies (OMCs), Indian Oil, Bharat Petroleum and Hindustan Petroleum are losing ₹30,000 crore a month for selling petrol, diesel and LPG at lower prices despite rising costs. OMCs are also losing revenue on sale of jet fuel for domestic flights, a government official said. "OMCs…procuring expensive crude oil…but [selling it at low prices]…to protect…consumers," the official added.

The Trump administration is close to finalising a $400 million settlement with TikTok over allegations that the platform violated children's privacy, ABC News reported. The lawsuit, filed by the Justice Department in 2024 against TikTok and parent company ByteDance, accused the firm of failing to protect minors' data. The settlement funds would be used for Trump's "beautification" projects.

Walmart CEO John Furner met Prime Minister Narendra Modi to discuss India's growth and investment opportunities, the company said in a post on X. The meeting comes as Walmart-backed Flipkart and PhonePe prepare for IPOs in India. It also marks Furner's first visit to India since taking charge earlier this year. Walmart acquired a 77% stake in Flipkart in 2018.

US senators are expected to take up the long-awaited Clarity Act next week, a bill aimed at creating a regulatory framework for cryptocurrencies. The crypto industry has backed the bill, calling it crucial for the future growth of digital assets. The bill was delayed due to banks' concerns over stablecoin issuers offering yields or rewards to users.

Truecaller said it will cut 70 jobs, or roughly 15% of its workforce, in the second quarter. "This reduction in staff count was…very hard decision to make, but an important one to ensure we remain focused and disciplined during this low-revenue period," the Sweden-based caller ID company said. Truecaller's net sales fell 27%, with India seeing the biggest decline.

A deadly hantavirus outbreak aboard the cruise ship MV Hondius has triggered global health alerts after multiple deaths and infections were reported among passengers and crew, including two Indian nationals. Health authorities across several countries are monitoring the situation closely, though experts say the overall public risk remains low because hantavirus spreads far less easily.

Top executive from Uber and NVIDIA say replacing humans with AI is turning out to be far more expensive than many companies expected. Rising AI compute costs, token-based pricing, and massive infrastructure spending are making enterprise AI automation surprisingly costly. Despite the hype around AI replacing jobs, some firms now find human employees cheaper and more economically efficient.

According to the Solvent Extractors' Association of India (SEA), India’s palm oil imports fell 19% in March to a three-month low, while total edible oil imports dropped 9%. As palm oil is essential for food and personal care products, rising prices are forcing companies to balance increased production costs against the risk of reduced consumer demand from price hikes.

India’s global capability centre industry is nearing the $100 billion mark much earlier than expected, according to NASSCOM’s Rajesh Nambiar. More multinational firms are setting up AI-first centres in cities like Bengaluru and Hyderabad, while hiring shifts from scale to specialised talent. Industry leaders said India’s deep AI talent pool continues to attract global technology investments.

A new debate on minimum wages has reignited questions around India’s informal economy. A report by the Foundation for Economic Development argued that wage mandates hurt formal hiring and exports. Economists cited in response said India’s bigger challenge is weak demand, low incomes and stagnant consumption, not excessively high wages.