Pressures

• Uber’s India data-centre bet is being framed as part of a broader tech and cost strategy, with the company weighing infrastructure choices as AI-driven risk rises. • The coverage notes that about 90% of advanced AI users are trimming some form of business process outsourcing spend, underscoring how automation is reshaping enterprise budgets. • The development matters for India’s enterprise-tech ecosystem because it links cloud infrastructure demand with the rapid adoption of AI tools and changing outsourcing patterns.

• India's manufacturing PMI increased to 54.7 in April from 53.9 in March, indicating continued expansion in the sector despite external headwinds. • The uptick reflects strong demand and production growth, though inflationary pressures have intensified due to ongoing Middle East geopolitical tensions affecting commodity prices. • A PMI above 50 signals economic expansion, and the improvement suggests Indian manufacturers are maintaining resilience in production activity and order books.

• The Federal Reserve maintained interest rates at 3.50%-3.75% last week, citing continued economic expansion but persistent inflation linked to energy prices. • Inflation remains elevated with PCE price index up slightly in March to 3.5% year-over-year. • Decision supports market optimism, contributing to S&P 500 nearing its January record high despite Middle East risks.

• India's BSE Sensex ended 0.8% down at 76,913.5 on Thursday, reversing prior gains due to elevated oil prices and global cues. • Financial stocks led losses with Axis Bank dropping 3.4% on marginal Q4 profit decline, while gainers included Cohance up 20% and Reliance rising 2.9%. • The decline highlights sector vulnerabilities, impacting investor sentiment in a volatile market environment.

Trump officials use incident at correspondents’ dinner to pitch case for $400m project, arguing it will be ‘safe space’US politics live – latest updatesThe US Department of J (DoJ) has used the weekend shooting in Washington DC to pressure a preservation group to drop a lawsuit seeking to halt the construction of Donald Trump’s White House ballroom.Several Trump administration officials, including the president, seized on the incident at the White House Correspondents’ Association dinner to advance their case for the completion of the controversial $400m project, for which the White House’s East Wing was suddenly demolished, arguing the new ballroom was needed as a “safe space”. Continue reading...

• The Nasdaq 100 and Dow Jones Industrial Average have both entered correction territory, defined as a more-than-10% decline from recent peaks, marking a significant milestone in the market downturn. • Tech stocks have been particularly hard hit, with Amazon dropping 3.1% and Meta Platforms falling 3.5%, as the sector faces pressure from both high valuation concerns and geopolitical tensions related to the Iran war. • The S&P 500 has suffered five consecutive weeks of losses—its longest losing streak in nearly four years—and is now 8.7% below its record set in early 2026.

• The U.S. Senate approved a bill funding the Department of Homeland Security, including TSA operations, but excluding ICE and parts of Customs and Border Protection. • The measure addresses impacts from the partial government shutdown, where over 480 TSA officers quit and absences hit 40% at some airports. • President Trump announced plans to sign an executive order for immediate TSA agent payments, separate from the Senate bill.