Category: 1 Minute-Read

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StrainX Bioworks raises $13 mn to boost alternative protein

 

 

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Hindalco profit drops 51%, announces ₹5 dividend

Hindalco Industries reported a 51% decline in net profit for the fourth quarter of FY26 and announced a final dividend of ₹5 per share. The company posted a profit of ₹2,597 crore during the January–March period, lower than the same quarter last year.

Despite the drop in profit, Hindalco recorded growth in revenue, supported by strong performance in its aluminium and copper businesses. The company said operational issues at Novelis’ Oswego plant in the United States affected earnings during the quarter. Investors will now watch future business performance and market conditions closely.

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Heatwave spurs beverage sales, not appliances

Sales of cold drinks, ice creams and other summer products have increased sharply as heatwave conditions continue across several parts of India. Consumers are spending more on beverages and instant cooling products to deal with rising temperatures. However, demand for major appliances such as air conditioners and refrigerators has remained weaker than expected.

Industry experts say factors such as uneven weather patterns, higher prices and cautious consumer spending have affected appliance purchases. While fast-moving summer products are seeing strong demand, larger household purchases continue to face slower sales growth.

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Pronto faces privacy concerns over AI cameras

Pronto has come under criticism after reports emerged about a pilot programme involving AI-enabled cameras recording activities inside customers’ homes.

The feature, reportedly designed to improve service quality and operational monitoring, sparked privacy concerns and criticism on social media. Users questioned the use of cameras in private spaces and raised concerns over consent and data handling practices.

The issue has also triggered wider discussions within the technology community on balancing AI-driven innovation with privacy rights, with experts stressing the importance of transparency and clear communication when customer data is involved.

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US invests $2 bn in nine Quantum Computing firms

The United States government has announced a $2 billion funding package to support the development of quantum computing, distributing the money among nine companies working in the sector.

The strategic decision aims to accelerate research and strengthen US leadership in advanced computing technologies. Quantum computing uses principles of quantum mechanics to process complex problems far faster than traditional systems and is expected to have major applications in areas like cybersecurity, defence, healthcare, and materials science.

Officials said the investment will support research, infrastructure, and scaling of experimental systems while addressing technical challenges such as stability and error correction in early-stage quantum technology.

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SpaceX postpones Starship test launch

SpaceX has postponed the launch of its Starship Flight 12, delaying the debut of the upgraded Starship V3 rocket. The launch, planned from Starbase in Texas, has now been rescheduled for Friday after a technical issue during final preparations.

The mission marks the first test of the latest Starship version, which includes major upgrades in design, power and reusability. Before the delay, SpaceX completed key checks, including rocket stacking and a full fuel loading test.

The test flight will focus on system validation rather than completing a full orbital mission.

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Australia unemployment rises to highest level

Australia’s unemployment rate rose to its highest level since 2021 in April, according to official data, signalling a cooling labour market. The jobless rate increased as employment growth slowed and fewer new jobs were added compared to previous months.

Analysts said the rise reflects weaker hiring momentum across several sectors, even though the overall economy remains stable.

The data suggests that employers are becoming more cautious amid global economic uncertainty and higher interest rates. Despite the uptick in unemployment, participation in the labour force remained steady, indicating continued interest in jobs among workers across the country.

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Wearable cameras on workers help train robots

Big tech companies are reportedly using data from Indian factory workers wearing wearable cameras to train robots. The footage captures real-time tasks like assembly, inspection, and routine factory work, helping machines learn how to perform similar actions more accurately.

The aim is to improve automation systems by teaching robots how humans carry out industrial jobs. Companies say this can boost efficiency and reduce errors on production lines.

However, the practice has raised concerns about privacy and consent, with experts warning that using workers’ data in this way could lead to ethical and labour-related issues.

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Intuit cuts 3,000 jobs globally

Intuit has announced layoffs of around 3,000 employees globally as part of a restructuring tied to its artificial intelligence strategy. The US-based financial software firm, known for TurboTax and QuickBooks, said the move is aimed at improving efficiency and shifting focus toward AI-driven products.

The job cuts mainly affect roles linked to legacy systems and non-core functions. Alongside the layoffs, Intuit has expanded partnerships with OpenAI and Anthropic to boost AI integration across its platforms.

The company said it will continue hiring in AI and engineering roles while supporting affected employees with severance and transition assistance.

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Parle Industries shares jump on viral “Melody” confusion

Parle Industries shares surged to the upper circuit after a viral video of Prime Minister Narendra Modi gifting “Melody” toffees to Italian PM Giorgia Meloni triggered confusion among retail investors.

The buzz around the “Melodi” meme led some traders to mistakenly associate Parle Industries with Parle Products, the actual maker of Melody candies. The stock jumped despite having no business link to the FMCG brand.

Parle Products is privately held and not listed, while Parle Industries operates in infrastructure and recycling. The incident highlights how social media trends can sometimes drive irrational movements in stock markets.