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The Latest Breaking News from The Economic Times

Meta layoffs hit India; Local VCs eye Wispr Flow funding

Happy Wednesday! Tech major Meta has quietly axed a dozen India roles as part of its latest global AI-era reset. This and more in today's ETtech Morning Dispatch.

The Economic Times

Trump-endorsed Paxton topples Cornyn in Texas

Ken Paxton secured the Republican Senate nomination in Texas, defeating incumbent John Cornyn with President Trump's endorsement. Paxton's victory sets up a high-profile general election against Democrat James Talarico, potentially impacting Senate control. The race highlights Trump's influence, prioritizing loyalty over electability within the GOP.

The Economic Times

Bakri-Eid Bank Holiday Today: Are banks closed or open in your state for Eid-UI-Adha/Id-ul-Zuha) on May 27, 2026?

Bank holiday today: Banks across numerous Indian states will be closed today, Wednesday, May 27, 2026, for the Eid-ul-Adha festival. This holiday, also known as Bakrid or Id-ul-Zuha, affects banking operations in specific regions.

The Economic Times

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Gold edges higher on weaker dollar; focus on US-Iran talks, Fed outlook

Gold prices edged higher on Wednesday, buoyed by a weaker dollar as investors awaited developments in U.S.-Iran peace talks. Market participants are also closely monitoring U.S. Federal Reserve policymakers' remarks and upcoming PCE data for insights into future monetary policy, while consumer confidence eased amid inflation concerns.

The Economic Times

NASA unveils 3-phase plan for permanent moon base; 3 missions this year

NASA has unveiled a $20 billion plan to establish a permanent moon base, with three missions scheduled for this year to deliver equipment and test technologies. The agency aims to land astronauts in 2028, marking humanity's first outpost on another celestial world. This initiative will build infrastructure and scale operations…

The Economic Times

Ex-US President Joe Biden sues DOJ over release of interview audio

Former President Joe Biden has filed a lawsuit against the Justice Department. He seeks to prevent the release of audio recordings and transcripts from his 2016-2017 conversations with his biographer. These materials are slated for release to the House Judiciary Committee and the Heritage Foundation. The recordings were part of…

The Economic Times

US to keep tariffs on USMCA countries, issues with Canada 'significant', Greer says

The Trump administration plans to maintain tariffs on imports from Mexico and Canada as negotiations begin to revamp the North American free trade pact. U.S. Trade Representative Jamieson Greer stated that tariffs will remain as long as a significant trade deficit exists, aiming to increase U.S. content in regional production.…

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Global Market Today: Asian stocks climb to record on tech, oil drops

Asian stocks hit a record high, fueled by a surge in technology shares and easing geopolitical tensions. South Korea's SK Hynix reached a $1 trillion market cap, mirroring Wall Street's tech rally. Hopes for a US-Iran peace deal contributed to global equity gains, despite mixed US consumer confidence data.

The Economic Times

US says $20.6 billion of tariff refunds on the way to importers

US Customs and Border Protection is sending $20.6 billion to importers. This follows a correction to a previous report that overstated refund amounts. The agency is processing billions in tariff refunds. Importers are receiving payments for duties paid under President Donald Trump's tariffs. Some payments are delayed due to importers…

The Economic Times

Portuguese Proverb of the Day: “A gossiping woman talks of… — Life lessons on gossip, reputation, social behavior and why you must think before you speak

Portuguese Proverb of the Day highlights the meaning of “A gossiping woman talks of everybody, and everybody of her.” The saying reflects how constant gossip and unnecessary discussion about others can eventually influence a person’s own reputation. It suggests that people who frequently judge or speak about others often become…

The Economic Times

US Stock Market on Wednesday: S&P 500, Dow Jones, Nasdaq set for crucial test amidst Iran, Strait of Hormuz deadlock

U.S. Stock markets in much of the rest of the world pulled back from their gains the day before, as fighting continued in the region and the U.S. military.

The Economic Times

Iran says new US strikes violate ceasefire

Tensions escalate as Iran claims US strikes near the Strait of Hormuz breach a ceasefire. Israel intensifies bombing in Lebanon, impacting peace talks. Negotiations for a deal to end hostilities and reopen shipping lanes are ongoing. Iran seeks the release of frozen funds. Global oil prices rise amid the conflict.

The Economic Times

Negative cues from GIFT Nifty signal muted opening for D-Street

The Nifty slipped below 24,000, closing at 23,913 amid monthly F&O expiry and profit booking. Analysts suggest a gradual up-move could continue if crude oil prices remain soft, but geopolitical risks from US-Iran tensions are likely to keep investors cautious.

The Economic Times

Stocks in news: Coal India, Marico, Fino Payments Bank, L&T, Physicswallah

Indian markets closed lower amid global volatility and geopolitical concerns, with analysts expecting continued choppiness due to monthly expiry. Several stocks like Coal India, Marico, and L&T are in focus due to news developments, including government stake sales, new product launches, and order wins.

The Economic Times

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Peak XV, Activate in talks to invest in Silicon Valley AI dictation startup Wispr Flow

Founded by Stanford graduates Tanay Kothari and Sahaj Garg, Wispr Flow develops a voice dictation tool that allows users to speak into apps and workflows instead of typing. The latest funding is likely to nearly triple its valuation to $2 billion, per people in the know.

The Economic Times

Hyderabad’s BluJ rolls out e-aircraft prototype

Founded in 2022 by former Skyroot Aerospace founding team member Amar Sri Vatsavaya and Utham Kumar Dharmapuri, the company is focusing on sectors such as power transmission, mining, infrastructure and defence logistics, where transporting equipment and supplies to remote terrain remains expensive and time-consuming.

The Economic Times

GCCs switching to smart workflows as AI gobbles up procedural grunt work

Industry experts said AI is shrinking junior-level workflows, reducing standalone procedural functions and pushing multinational companies to redesign the kind of work handled by their India centres. Early industry estimates suggest nearly 18% of India’s GCC work still sits in commoditised, process-heavy functions that are increasingly being automated, embedded into…

The Economic Times

Chemical Tank implodes at Washington paper facility, several dead and critically injured

A chemical tank exploded at a Nippon Dynawave Packaging plant in Washington state. The incident caused multiple deaths and critical injuries. Emergency responders were at the scene in Longview. Patients with chemical burns were taken to hospitals. The tank contained 'white liquor', a chemical used in paper pulp production.

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The Economic Times

Quote of the Day by Legendary Spanish Philosopher Balthasar Gracián: “A beautiful woman should break her mirror early” – Inspiring lessons on beauty, self-awareness, character, admiration and why we should not judge a book by its cover by the influential moral thinker known for his wisdom on human nature and personal virtue

Quote of the Day by Balthasar Gracián: Balthasar Gracián’s quote, “A beautiful woman should break her mirror early,” reflects a deeper philosophical idea about self-perception, vanity, and inner identity. It suggests that over-reliance on external validation or constant self-admiration can limit personal growth and distort true self-awareness. In Gracián’s view,…

The Economic Times

Josh Jacobs arrest: All about Green Bay Packers star charges, and why he is booked into Brown County Jail

Josh Jacobs spent his first five seasons with the Raiders. He earned All-Pro honors and had an NFL-leading 1,653 yards rushing with Las Vegas in 2022.

The Economic Times

Quote of the day by Robin Williams: 'What’s right is what’s left if you do...' Life lesson on human behavior, success and knowledge by American comedian and actor

Quote of the day by Robin Williams speaks about choices, values and human behavior. The quote, “What’s right is what’s left if you do everything else wrong,” explains how people learn through mistakes. The words also connect with success, knowledge and personal growth. Robin Williams used humour and storytelling during…

The Economic Times

Chinese proverb of the day: 'A smile will gain you...' Life lessons on happiness, human behavior and why joy is contagious in nature

Chinese proverb of the day highlights the saying “A smile will gain you 10 more years of life.” The proverb explains how happiness, calm behavior and positive thinking can support mental and physical well-being. The ancient Chinese teaching also shows why smiling during difficult times can help people stay balanced,…

The Economic Times

NASA's mega moon plans unveiled: Drones, landers, rovers, millions of dollars contracts to 4 US companies

During April's Artemis II mission, four astronauts flew around the moon, travelling deeper into space than the Apollo moon crews did during the late 1960s and early 1970s.

The Economic Times

Liberian proverb of the day: 'Do not look where you feel. Look where you...' Life lessons on pain, failure and why taking corrective action is essential to become a better human being

Liberian proverb of the day teaches an important lesson about failure, mistakes and self-reflection. The proverb explains why people should focus on the cause of a problem instead of only thinking about pain or embarrassment. The saying comes from the Vai people of Liberia and continues to remain relevant in…

The Economic Times

Spanish Proverb of the Day: “Better to love an old man who knows... — Life lessons on attraction, loyalty, experience, commitment and why age is just a number

Spanish Proverb of the Day highlights the meaning of “Better to love an old man who knows what is love, and not love a lad, who flits around like a hummingbird.” The saying reflects the idea that emotional maturity, loyalty, and understanding are often more valuable in relationships than youthful…

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