Investors will be able to buy 16 square metres (sqm) of luxury space in Monaco for $1 million (₹9.4 crore), a Knight Frank report said. Hong Kong (23 sqm), Geneva and Singapore (28 sqm each) rank next, followed by London (33 sqm), New York (34 sqm) and Los Angeles (36 sqm). Mumbai offers 96 sqm of space for $1 million.

The Iran war's effects have spilt onto Panama Canal, one of the world's largest chokepoints, as ships have begun paying over $1 million (₹9.42 crore) to pass through it. The ships are paying the amount in auctions to get the earliest possible slots to cross the canal. The Panama Canal Authority added that average auction prices have risen 175%.

The world’s largest multinational coffeehouse chain, Starbucks, is cutting staff in its technology team, the Seattle Times reported. The exact number of layoffs has not yet been disclosed. Last year, Starbucks closed several hundred stores in the US and Canada and also laid off nearly 1,000 retail and non-retail workers in Seattle and Kent, along with 1,100 corporate employees.

In an internal memo to employees, Meta confirmed its plan to fire 8,000 employees in a single day, adding that it'll offer a "generous severance package". It said the package will include 16 weeks of base pay plus two weeks for every year of employment. Meta will also cover health care coverage for employees and their families for 18 months.

Meta confirmed to employees that it'll fire 8,000 staffers on May 20, adding that it has cancelled its plan to fill 6,000 other open roles. Chief People Officer Janelle Gale attributed the layoffs to efficiency, saying, "[Layoffs will] allow us to offset the other investments we're making." "This puts everyone in uneasy state, but...this is best path forward," Gale added.

Zomato has agreed to drop a contract term ‌that penalised restaurants for offering cheaper meals to walk-in diners, Reuters reported citing a source, after opposition from eateries. For years, Zomato has ​had a "charges for price disparity" clause, which allowed it to fine restaurants if ⁠their eat-in or own delivery prices were lower than those listed on the Zomato app.

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).

SOLAI stock plunged over 12% after Chaince Digital Holdings revised its take-private offer to $3.162 per American Depositary Share (ADS). While the net asset value (NAV) adjustment rose to 170%, the deal imposes a price cap of $3.20. This follows a March offer for the crypto infrastructure firm, formerly known as BIT Mining.