cfo

A major fire erupted in the projector room of a cinema hall at Ghaziabad's Pacific Mall early Thursday. Ten fire tenders battled the blaze, successfully preventing it from spreading to adjacent halls and shops. No casualties were reported, and officials suspect a short circuit as the likely cause, with investigations ongoing.

The National Testing Agency (NTA) is recruiting for senior positions including Chief Technology Officer, Chief Finance Officer, and General Manager-Human Resources on a contractual basis. Applications are open until May 31, 2026, with specific educational qualifications and extensive experience required for each role. These positions are based at the NTA headquarters in New Delhi.

Three four-wheelers were destroyed in a fire that erupted at a car workshop near the Rapid Metro station in Ghaziabad early Wednesday. Firefighters quickly extinguished the blaze, preventing it from spreading and rescuing three vehicles. No casualties were reported, and a short circuit is suspected as the cause.

Standard Chartered will cut about 7,800 jobs by 2030, roughly 15 per cent of its corporate functions, with back-office hubs in Bengaluru, Chennai, Shenzhen and Warsaw hardest hit. CEO Bill Winters said the Asia-focused bank is replacing "lower-value human capital" with AI and automation, as StanChart targets an 18 per cent return on tangible equity by 2030 and higher income per employee.

In a dramatic scene in Ghaziabad, a residential building was engulfed in flames, leaving twelve residents, including four young children, stranded on a terrace. Heroes in firefighting gear faced the daunting blaze, maneuvering through darkened, smoke-choked staircases.

Amid the NEET-UG 2026 paper leak controversy, the NTA has announced significant institutional and technological reforms, including hiring a CTO and strengthening oversight. Union Education Minister Dharmendra Pradhan chaired a review meeting, emphasizing secure and foolproof conduct for the upcoming re-examination, with enhanced coordination with state authorities.

PepsiCo plans to invest up to Rs 5,700 crore in India by 2030, primarily to expand manufacturing capacity for its foods business. The investment will support facilities in Madhya Pradesh, Assam, and Tamil Nadu, strengthening the company's presence in a key global growth market. This commitment underscores PepsiCo's long-term growth strategy in India, with some projects nearing operationalization.

Meta is laying off around 8,000 employees on Wednesday, May 20, with notification emails going out in three regional waves starting at 4 AM local time. A leaked memo from HR chief Janelle Gale tells North American staff to work from home as the cuts roll out. Meanwhile, 7,000 workers are being reassigned to four new AI-focused organisations as Mark Zuckerberg restructures Meta around flatter teams, fewer managers, and a $145 billion AI bet.

Anthropic employees refused to sell their shares at the $350 billion tender offer earlier this year, and now we know why. The Claude maker has agreed a fresh $30 billion funding round at a $900 billion valuation, the Financial Times reported, nearly tripling its worth in three months. With revenue at $30 billion and an IPO expected by October, staff are sitting on a payday.

Anthropic's cfo reveals AI now writes 90% of the company's code, yet hiring is at an all-time high. AI acts as a productivity accelerant, automating routine tasks and allowing human employees to focus on oversight, judgment, and strategy.

Meta is cutting 8,000 jobs on May 20 as CEO Mark Zuckerberg rebuilds the company around small, AI-powered teams. With capex hitting a record $125–145 billion this year, cfo Susan Li admitted there's no clean answer for what Meta's ideal headcount even looks like anymore. The company wants builders who can ship alone what teams once built together—and is letting everyone else go.

Meta is reportedly laying off 8,000 employees, about 10% of its workforce, despite record profits. This 'Year of Efficiency' has bred dread as funds shift from staff to AI infrastructure, with billions earmarked for AI development. Employee morale is at historic lows, with some even hoping for layoffs due to generous severance packages.

America's largest public pension funds are voicing serious concerns over SpaceX's planned IPO governance. They argue that Elon Musk's proposed super-voting shares and control provisions could significantly weaken shareholder protections and grant him excessive, potentially unfireable, power. These funds are urging SpaceX to revise its structure before going public.

Tata Steel reported a more than two-fold jump in consolidated net profit to Rs 2,965 crore for the January-March quarter of FY26, driven by strong India operations and improved volumes. For the full fiscal year, net profit surged over three times to Rs 10,885.82 crore, with steel production and deliveries also seeing an increase.

The Trump administration is downplaying AI's impact on job losses, despite tech companies citing AI-driven restructuring for recent layoffs. While White House officials claim no current data shows AI costing jobs, major firms like Amazon and Meta are openly linking AI advancements to reduced workforce needs and increased productivity.

Indians are increasingly recycling and exchanging old gold jewelry for new pieces due to rising prices and volatility. This trend has significantly boosted exchange programs at retailers like P.N. Gadgil & Sons and Tanishq, with consumers opting for lower caratages and alternative jewelry to manage costs.

Engineering remains a powerful career option, but AI has changed its terms. Routine coding is getting automated, entry-level work is being compressed, and the old B.Tech-to-job promise looks less secure. The opportunity now belongs to students who combine fundamentals, AI fluency, domain understanding and judgement — not those who treat engineering as just another coding degree.

Meta is developing a consumer AI agent, codenamed Hatch, designed to shop on Instagram, manage inboxes, and operate across third-party apps. This ambitious project aims to offer a user-friendly version of the viral OpenClaw agent. Meta is investing heavily in this personal superintelligence push, with a public launch anticipated by late 2026, despite significant trust concerns.

Uber is strategically slowing headcount expansion to channel more investment into artificial intelligence, according to CEO Dara Khosrowshahi. AI is proving to be a powerful accelerator, boosting engineer productivity by generating a significant portion of code changes. This shift aims to enhance efficiency across all company operations, making the AI investment highly compelling.

Noida International Airport (DXN) has commenced ticket sales, with IndiGo launching 16 routes starting June 15. The first flight will arrive from Lucknow at 8:05 am, with Bengaluru being the first departure. Other carriers like Akasa Air and Air India Express are expected to begin operations soon, with international flights slated for September.

DM sets up probe panel, orders inspection of malls, hosps, highrises

Billionaire Mark Cuban has raised concerns about OpenAI's business strategy. He believes the company is spending too much on infrastructure. Cuban suggests that rapidly advancing technology will make current investments unsustainable. He also doubts the long-term profitability of large AI models like ChatGPT. Internal tensions at OpenAI reportedly exist regarding cost control.

Microsoft's cfo Amy Hood indicated a workforce reduction in upcoming quarters, citing a drive for increased pace and agility. This follows recent job cuts and employee buyouts. Despite these changes, the company reported strong financial results, with significant growth in Microsoft Cloud and AI revenue, demonstrating robust customer adoption and progress.

Apple's incoming CEO, John Ternus, is poised to shift the company's massive cash strategy, potentially mirroring Steve Jobs' focus on product development over Tim Cook's shareholder-centric approach. The company is abandoning its 'net cash neutral' policy, signaling a move towards aggressive investments in acquisitions, R&D, and AI infrastructure, while buybacks may become less frequent.