SEBI has received the updated draft red herring prospectus (UDRHP-I) from InCred Holdings, the parent company of InCred Financial Services, a prominent NBFC. The public offering of the company's stock will include both a new issuance of shares up to INR 1,250 Cr and an OFS of
The Nissan plant in Sunderland, United Kingdom, will consolidate production lines and eliminate 900 jobs around Europe. The move is part of a larger restructuring effort by the Japanese automaker to cut surplus capacity and increase efficiency. The Sunderland plant, which produces the Leaf, Juke, and Qashqai models, will combine
A number of Nike's technology-related offices are being shuttered in Atlanta, China, and Poland, and others are being moved to Portland. As part of a larger restructuring plan, the sportswear firm is taking this action, which is anticipated to result in the loss of approximately 1,400 jobs.
Andhra Pradesh's industry and manufacturing aspirations have been greatly enhanced by the selection of AP for the new production expansion project by renowned motorbike maker Royal Enfield. Consequently, this is the first significant expansion outside of Tamil Nadu for the corporation since its founding in 1901. A state-of-the-art
Meesho is quickly integrating AI into its foundational processes. Aatrey, the chief executive, recently announced that artificial intelligence tools now generate over 70% of the company's code. This revelation demonstrates how Indian IT companies are boosting the efficiency, speed, and scalability of their engineering and product development processes
Lachy Groom, co-founder of Physical Intelligence, leads $20 million extension; platform now processes 26,000 bookings daily
Coinbase is restructuring its management and laying off 14% of its employees. The move comes as the Bitcoin exchange, now led by CEO Brian Armstrong, speeds up its shift to an AI-first operational strategy. Approximately 700 workers may be impacted by the reorganisation, according to Coinbase's most current
Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investing, has invested USD 15 million in Eversource-backed Ecofy, a Reserve Bank of India (RBI)-registered NBFC specialising in financing green products. Founded in 2022 by Rajashree Nambiar and Govind Sankaranarayanan, and backed by Eversource Capital, British International Investment, FMO
Indian startups attracted capital across deep tech, climate finance, medtech, enterprise AI, fintech, and employment infrastructure on Tuesday. The day's largest raise came from fabless semiconductor startup BigEndian Semiconductors, which secured $6 million (~₹51 crore) in a pre-Series A round led by IAN Alpha Fund. Climate-focused NBFC Ecofy
A subsidiary of BMW that operates out of South Carolina's massive manufacturing complex is planning to lay off about 100 workers. This is just the latest blow to the state's car supply chain ecosystem in terms of job cuts. The South Carolina Department of Employment has
As the software company speeds up its transformation powered by artificial intelligence, Freshworks will slash about 500 workers worldwide. In response to industry-wide advances in enterprise technology, the company is reorganising its operations. On May 5th, the business announced that it would be laying off about 11% of its employees.
The Indian government announced the Emergency Credit Line Guarantee Scheme 5.0 (ECLGS 5.0) on the evening of 5th May 2026, extending collateral-free top-up loans to MSMEs absorbing the economic shock of the Iran war crisis. Confirmed via an official PIB notification, the scheme allows eligible businesses to borrow
In an effort to streamline operations and improve long-term growth, newly hired chief executive Enrique Lores is launching a turnaround efforts at PayPal, which might lead to layoffs and reduced spending. The business has stated that it plans to save $1.5 billion in the next 2-3 years. In the
As part of its Project Leap reorganisation effort, Cognisant may cut 12,000 to 15,000 positions worldwide. Consequently, the worldwide IT services business is bracing for yet another massive staff reset. As part of a larger reorganisation plan, Cognizant has allocated up to $270 million to cover expenses connected
As part of its strategy to expand its AI-powered fleet safety business, Netradyne, which is backed by SoftBank, has purchased Moove Connected Mobility, increasing its footprint in Europe. With this acquisition, Netradyne's edge intelligence platform and Moove's local presence and clientele in key European markets will
Armory, one of India’s fastest-growing defence-tech companies, has reached a significant milestone by becoming among the first startups of its scale to secure a landmark INR 100 crore order from the Ministry of Defence (MoD) for its AI-powered SURGE Counter-Unmanned Aircraft System (C-UAS). This contract was awarded following a
Porsche India, a division of Škoda Auto Volkswagen India Private Limited (SAVWIPL), has appointed Ashutosh Dixit as Brand Director, Porsche India, with immediate effect. Throughout a distinguished career across India, China, and Europe, Ashutosh Dixit has held several leadership roles, building deep expertise in strategy, sales operations, and brand development.
Biocon founder and chairperson Kiran Mazumdar Shaw has reportedly chosen her niece, Claire Mazumdar, as her successor to lead India's largest biotechnology company. The succession announcement marks a significant development for the Bengaluru-based pharmaceutical giant, which has been at the forefront of India's biotech revolution for
Gold and silver prices in India on 5 May 2026 are witnessing mixed trends, influenced by global cues, inflation concerns, and geopolitical developments. While gold is holding relatively steady on the Multi-Commodity Exchange (MCX), silver has shown volatility after recent sharp corrections. According to the latest market data, MCX gold
Legal tech and lifestyle brands attracted capital today as Indian startups raised funds across diverse sectors. Legal AI platform Jurisphere secured ₹21 crore, while luxury innerwear brand MHYTH bagged ₹5 crore in pre-seed funding. Meanwhile, Dream Sports launched a stock broking platform, Dream Street, as it diversifies beyond gaming. Daily
Online platforms that hire gig workers are implementing a range of tech-driven solutions, infrastructure enhancements, and welfare measures as the temperature rises across the country. Many online retailers are pledging to do more to protect their delivery drivers and employees. These platforms include Amazon, Zomato, Blinkit, Swiggy, BigBasket, and Flipkart.
Major cities like Mumbai, Bengaluru, and the National Capital Region are experiencing a scarcity of workers for on-demand house-help platforms like Snabbit, Pronto, and Urban Company's Insta Help. This resulted in reduced availability and appointments that had to be rescheduled or cancelled. Users have complained about having trouble
There will be major shifts at Reliance Industries as the company prepares to increase production of liquefied petroleum gas (LPG). War in the Middle East and the subsequent interruption of vital import channels have exacerbated India's already dire energy situation, prompting the country to make this strategic shift.