Meta's plan to fire 8,000 employees in a single day has surfaced as the company shifts focus to becoming AI-native. An internal memo seen by Reuters revealed that Meta also plans to reassign - or 'draft', as many employees refer to it - 7,000 employees to AI workflows. In addition, "many leaders will announce organisational changes", the memo said.

The Hinduja Group has retained its position as the wealthiest family business on The Sunday Times Rich List 2026 in the United Kingdom for the fifth consecutive year. According to the latest rankings published by The Sunday Times, the Hinduja familys fortune is estimated at 38 billion euros, keeping them at the top of the UKs wealth rankings once again.

India's e-commerce market is projected to grow nearly threefold to $174-214 billion by FY30 from about $70 billion in FY25, according to an ICICI Securities report. E-commerce penetration in overall retail is expected to increase to 13% from 7% over the same period. India currently has around 970 million internet users and nearly 500 million online shoppers.

The Indian rupee fell to a record low of 96.38 against the dollar on Tuesday. Elevated crude oil prices, weakness across Asian currencies, subdued global risk appetite, and rising US bond yields weighed on the domestic currency. The rupee has fallen for seven consecutive sessions, losing about 2.2% during the period and hitting new record lows repeatedly.

The Union Finance Ministry has directed state-run banks, insurance companies and financial institutions to reduce fuel consumption through online meetings, restricted travel and gradual adoption of electric vehicles amid rising fuel prices linked to global crude oil volatility.The advisory follows recent fuel price hikes and growing concerns over the impact of the ongoing West Asia conflict.

Major bread company Modern Bread has increased prices of several bread variants by up to ₹5 per packet in Mumbai and nearby areas, The Times of India reported. The hike comes due to rising prices of plastic powder used to manufacture packaging bags. The increase in bread prices comes just days after milk prices were raised by ₹2 per litre.

Google will launch a new AI cloud company using a $5-billion investment from Blackstone to rival firms like CoreWeave. The JV will provide data centre capacity, operations, networking and Google Cloud's Tensor Processing Units as a compute-as-a-service offering. The company's first 500 megawatts of power is expected to come online by 2027, with Blackstone reportedly being the majority shareholder.

FIFA media rights officials are visiting India this week ahead of next month's World Cup, for which no broadcast deal has been signed with India due to differences over pricing, Reuters reported. Reliance-Disney joint venture reportedly offered $20 million for the rights. FIFA had initially sought $100 million and was later looking for at least $60 million, the report added.

Infosys employees have reportedly received lower quarterly bonuses amid macroeconomic uncertainty and rising Middle East tensions. The average Q4 FY26 performance bonus payout dropped to 70%, down 15 percentage points from the previous quarter. The development reflects broader pressure on India's IT sector as companies face slowing global demand and AI-driven changes.

Indian Railways has launched a new direct Bengaluru-Mumbai Express train service, introducing a second direct connection between the two cities after nearly 30 years. The bi-weekly train will cover 1,210 km in around 24 hours, with major stops including Hubballi, Belagavi, Pune, and Thane. Regular services will begin on May 23 from Bengaluru and May 24 from Mumbai.