funding cuts

Across the vibrant streets of Argentina, a sea of protesters poured into the plazas, voicing their outrage over president Javier Milei’s funding cuts to public universities. With significant budget shortfalls, faculty members are witnessing a troubling drop in their earnings.

The US State Department is offering up to $15 million for information on financial networks linked to Iran's IRGC, targeting its illicit oil trade. This move, part of expanded sanctions, aims to disrupt funding for proxy groups and regional aggression. The US also sanctioned a network involved in selling Iranian oil and three IRGC officials.

Meta employees face a bleak outlook with impending layoffs of nearly 8,000 staff. Mandatory tracking software, reduced pay, forced transfers, and a sense of broken trust have created widespread discontent. While AI researchers are reportedly thriving, most workers are left in anxious anticipation, hoping for severance packages.

In an unexpected turn, the UK economy posted a 0.6% GDP growth in the first quarter of 2026, largely buoyed by the resilient services sector, particularly in retail. While this positive news stands in stark contrast to previous gloomy predictions amidst global uncertainty, analysts warn that this growth may be fleeting.

LinkedIn is cutting around 5% of its global workforce—roughly 875 jobs—across its Global Business Organization, marketing, engineering, and product teams. CEO Daniel Shapero broke the news in an internal memo, saying the Microsoft-owned platform needs to "reinvent how we work." The layoffs land despite a 12% revenue jump last quarter, with AI's role in the decision left conspicuously unspoken.

Harvard University will reinstate merit-based salary increases for the 2026-27 fiscal year across several key schools, signaling a partial financial recovery. This move follows last year's federal funding cuts and subsequent austerity measures, including a hiring freeze and program reviews. While some schools are resuming raises, others are still assessing their financial situations amidst ongoing restructuring and legal challenges.

Governor Malhotra Says Flexible Inflation Targeting May Not Be Enough Amid Crisis

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.

Uday Kotak, founder of Kotak Mahindra Bank, urged India to reduce its reliance on foreign capital and cultivate a robust domestic pool of long-term risk capital for true self-reliance. He emphasized that companies should prioritize building businesses with a three-to-five-year vision over short-term stock price fluctuations, advocating for stronger domestic private equity and venture capital ecosystems.

Dell Technologies stock reached an all-time high after President Trump publicly endorsed the company, urging Americans to "go out and buy a Dell." This surge followed the Dell family's pledge of $6.25 billion to fund "Trump Accounts," designed to provide seed money for children's investment accounts.

The BMC House has approved a record Rs 250-crore mayor's development fund, reallocating resources from key departments. This follows a controversy over uneven distribution of an earlier Rs 800-crore fund, leading to revised allocations and redirection of funds to welfare schemes.

The Bill Gates Foundation Trust sold its entire Microsoft (MSFT) stake in Q1 2026, offloading the final 7.7 million shares worth $3.2 billion. The exit caps a two-year wind-down from 28.5 million shares, funding Gates' plan to spend the endowment by 2045. Microsoft stock slipped to $422.07 even as Pershing Square's Bill Ackman disclosed a fresh $2.3 billion MSFT buy the same day.

The move to up the gold import duty comes days after PM Narendra Modi appeals to citizens to avoid unnecessary gold purchases for a year. But is a hike in duties an effective way to curb consumption? We take a look:

Somalia is grappling with an unprecedented drought, declared its most severe in history, forcing countless families into a fight for survival. With aid resources dwindling and prices spiraling upwards, communities like that of Abdi Ahmed Farah are witnessing their livestock perish and their futures darken.

S&P Global has said that the country has adequate financial buffers to manage a wider current account deficit that could emerge because of rising crude oil prices. India’s current account deficit has narrowed over the past few years, although fluctuations in global crude prices now pose a risk to that improvement.

GOI should let the economy adjust to new energy market realities, and raise pump prices. Lower domestic fuel consumption will also mean less dollar demand & help shore up the rupee

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.

A recent prayer event in Washington, backed by the White House, has sparked debate about religion and nationalism. Thousands gathered for 'Rededicate 250,' with speakers advocating for America to be a Christian nation. This event highlights a trend of merging American identity with Christianity, a move critics liken to a 'Make America Christian' project.