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Dr. Reddy’s Laboratories reported a consolidated net profit at Rs 221 crore in the March-ended quarter versus Rs 1,587 crore in the year ago period, an 86% YoY fall.

The company’s revenue from operations in Q4FY26 was down 12% to Rs 7,516 crore versus Rs 8,506 crore in the corresponding quarter of the previous financial year.

The company’s board recommended a final dividend of Rs 8 per equity share for the financial year 2025-26, subject to approval of shareholders at the ensuing Annual General Meeting. The company has set the record date for determining eligible shareholders on July 10, 2026.

The profit after tax (PAT) was down 81% on a sequential basis from Rs 1,190 crore in Q3FY26 while topline declined 14% quarter-on-quarter from Rs 8,727 crore in the October-December quarter of FY26.

However, revenue increased 3% for the full year ended March 31, 2026 to Rs 33,593 crore from Rs 32,553 crore in the year ago period.

Growth was broad-based across key markets, except for North America which declined primarily on account of lower Lenalidomide sales and a one-time Shelf Stock Adjustment (SSA) of Rs 450 crore related to the product. Favourable foreign exchange rate movements further supported overall growth.
Excluding the one-time SSA, consolidated revenues were at Rs 7,970 crore billion in Q4FY26, a decline of 6.3% YoY and 8.7% QoQ and Rs 34,050 crore in FY26, a growth of 4.6% YoY.Gross Margin for Q4FY26 at 44.8%, a decline of 1,074 basis points (bps) YoY and 881 bps QoQ. For FY26 it stood at 52.8%, a decline of 573 bps YoY.

The YoY decline for the quarter was primarily on account of reduced sales of Lenalidomide, price erosion in North America and Europe Generics and a one-time SSA impact indicated earlier. FY26 was further impacted by one-time new Labour Code related provision in Q3FY26.

Excluding the one-offs related to SSA and new Labour Codes, gross margin for Q4FY26 at 48% and FY26 at 53.5%.

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Dr. Marty Makary is out as FDA commissioner, President Donald Trump said Tuesday, ending a controversial tenure at the health agency.

Makary is “a wonderful man and he’s going to be off, and the assistant, the deputy, is taking over temporarily,” Trump told reporters on Tuesday.

He added, “He’s going to go on, and he’s going to lead a good life.”

Several news outlets reported that Makary resigned on Tuesday, which followed days of reporting that the White House was planning to fire him.

Kyle Diamantas, who previously worked as the top food official at the FDA, will step in as acting commissioner, according to reports. Trump on Tuesday did not name Diamantas.

Makary, a surgical oncologist known for criticizing the government’s handling of the Covid pandemic, had reportedly fallen out of favor with both FDA staff and the White House in recent months. He served as head of the agency responsible for regulating food, drugs and medical devices for more than a year. 

His tenure was marked by internal dysfunction and leadership turmoil at the FDA, along with mounting backlash from drugmakers, physicians and patient groups on regulatory decisions, including high-profile rejections of some rare disease treatments. At the same time, the White House reportedly grew increasingly impatient with what it viewed as his slow movement on Trump’s key policy initiatives, such as legalizing flavored vapes. 

Makary has touted his accomplishments as commissioner, including his priority voucher program that accelerates review times for certain drugs. 

But staff morale at the agency plummeted after layoffs and departures of career agency scientists, including longtime cancer regulator Dr. Richard Pazdur, who cited Makary’s leadership as his reason for leaving. Meanwhile, distrust of leadership has reportedly grown among the staff that remained. 

Among Makary’s most polarizing appointees was Vinay Prasad, who served as a key agency official overseeing vaccines and biotech treatments before stepping down at the end of April. Prasad, an outspoken academic and podcaster, left the agency after mounting criticism of the FDA within the biotech and pharmaceutical industries and among former health officials.

For example, the FDA initially refused to review Moderna’s flu shot – a decision that the biotech company said was inconsistent with previous agency guidance and specifically stemmed from Prasad. The FDA later reversed course on the vaccine.

Prasad also faced backlash earlier this year for his rejection of a Huntington’s disease gene therapy from uniQure, which claimed the FDA was requiring it to perform fake brain surgery to evaluate whether the treatment works. In a CNBC interview in March, Makary appeared to criticize that treatment without naming it. 

In April, the FDA rejected Replimune’s drug candidate for melanoma a second time after an initial rejection in July. The agency cited insufficient evidence of effectiveness and took issue with the single-arm trial design. 

In an interview with CNBC in May, Makary said three independent teams have arrived at the same conclusion around the drug and that the FDA has not made “corrupt sweetheart deals.”

“I don’t work for Replimune, I work for the American people, and I stand by the scientists at the FDA,”  Makary said in the interview with CNBC’s David Faber. 

In March, Sen. Ron Johnson, R-Wisc., announced an investigation into the FDA’s rejection of rare disease treatments.

President Donald Trump is set to travel to China this week for a summit with Chinese President Xi Jinping that comes as the relationship between the world’s two largest economies is disrupted by ongoing trade disputes and emerging technology.

Trump’s meeting with Xi in Beijing on May 14–15 comes amid the Iran war affecting global energy markets, while the trade tensions between the U.S. and China continue to simmer amid tariff disputes, the artificial intelligence (AI) race and potential export deals.

The two countries may negotiate new commitments by China to purchase American farm goods and jetliners, with restrictions on the sale of advanced AI chips a potential sticking point.

Derek Scissors, a senior fellow at the American Enterprise Institute whose focus includes U.S. economic ties with China, told FOX Business that the “president wants to announce a bunch of purchases” of U.S. goods following the talks and sees China as having flexibility to make public commitments to that effect.

WHITE HOUSE ACCUSES CHINA OF ‘INDUSTRIAL-SCALE’ AI TECHNOLOGY THEFT WEEKS AHEAD OF TRUMP-XI SUMMIT

“Xi Jinping can just say, ‘we are going to do this.’ It doesn’t mean they actually do it – they didn’t do it in the phase one deal – but he can say that, and they can announce that China will buy this many Boeings and this many soybeans, so I think they’re going to negotiate a purchase deal,” Scissors said.

He said that he views a public deal involving Chinese purchases of U.S. energy as unlikely due to political sensitivities stemming from the Iran war, but China may seek a deal allowing it to purchase advanced AI chips.

“On the Chinese side, they, of course, want more advanced technology. One of the reasons they have not bought any H200 Nvidia chips is that they want to put pressure on the company to sell them better chips,” Scissors said. “They’ll even eventually acquire H200 chips, and probably already have indirectly, but what they want is an agreement to sell more advanced chips.”

IN LETTER TO XI, TRUMP ASKS CHINA NOT TO SEND WEAPONS TO IRAN

“That’s the basic economic trade: the Chinese make, or at least announce, large-scale purchases of U.S. items that we sell to China, which is aircraft and farm goods in the lead if you’re not going to count energy, and then we agree to sell them more advanced chips than the H200,” he said.

Scissors added that he’s unsure whether Trump is interested in selling the advanced chips to China, given the tension between his stated desire for more U.S. exports and the restrictions that have been put in place on the sale of those chips.

Kyle Chan, a fellow at The Brookings Institution’s John L. Thornton China Center, expressed a similar sentiment and told FOX Business that Beijing’s approach to export controls will be a big question ahead of the summit.

“Trump allowed the sale of Nvidia H200 chips to China subject to certain conditions. Beijing, however, has not been eager to allow the import of these chips. While Chinese AI companies would like to access stronger AI chips, Beijing is keen to support domestic AI chipmakers instead,” Chan noted. “Will Trump see this as a technology issue or a trade issue?”

FORMER TREASURY SECRETARY SAYS GUARDRAILS ARE NEEDED TO AVOID US-CHINA ‘MUTUALLY ASSURED ECONOMIC DISRUPTION’

Chan added that the investment deals that have been reached between the U.S. and Japan and South Korea, two regional rivals of China, may be appealing to Chinese leadership – though he cautioned it isn’t clear the U.S. would be receptive.

“Beijing is quite interested in increasing Chinese investment in the U.S. They look around and see U.S. investment deals with other countries like Japan and South Korea and wonder whether this might be an easy win-win. The real question is whether the U.S. would find this attractive or see this as a source of greater risk and dependency,” Chan said.

A spokesman for the Chinese Ministry of Foreign Affairs said that the two presidents will exchange their views on “major issues concerning China-U.S. relations and on world peace and development.”

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“China stands ready to work with the U.S. to expand cooperation and manage differences in the spirit of equality, respect and mutual benefit, and provide more stability and certainty for a transforming and volatile world,” the spokesman added.

Tata Power on Tuesday reported a consolidated net profit of Rs 996 crore in the fourth quarter of FY26, which was down 4% year-on-year (YoY) from Rs 1,043 crore in the last year’s quarter. The Board has recommended a final dividend of Rs 2.5 per share for the financial year ended March 2026.

Revenue from operations fell 13% YoY to Rs 14,900 crore in the reporting March quarter, compared with Rs 17,096 crore in the year-ago quarter.

EBITDA rose 10% to Rs 4,216 crore during the quarter.

Tata Power said operational efficiency improvements and growth across core businesses supported earnings during the quarter. The company’s core business reported 13% YoY growth in PAT in Q4, driven mainly by generation, transmission and distribution, and renewables businesses.

For the full financial year FY26, Tata Power reported its highest-ever annual PAT of Rs 5,118 crore, up 7% year-on-year, while EBITDA increased 11% to Rs 16,090 crore. Annual revenue stood at Rs 63,681 crore.

The renewables segment remained a key growth driver. Renewable business PAT before exceptional items rose 59% YoY to Rs 1,994 crore in FY26, while Q4 PAT stood at Rs 406 crore.
The solar manufacturing business also saw strong traction, with FY26 PAT more than doubling to Rs 857 crore, aided by module and cell manufacturing ramp-up and yields exceeding 95%.The rooftop solar business reported a 150% jump in FY26 PAT to Rs 499 crore, while the transmission and distribution business posted a 49% rise in annual PAT to Rs 2,978 crore. Odisha discoms recorded an 84% increase in FY26 PAT at Rs 809 crore.

During the year, Tata Power commissioned 2.5 GW of renewable energy capacity and said its total renewable portfolio has now reached 11.6 GW, including projects under construction. The company also announced that the board of Tata Power Renewable Energy approved an investment of around Rs 6,500 crore for a 10 GW photovoltaic ingot and wafer manufacturing facility to deepen backward integration in solar manufacturing.

CEO and MD Praveer Sinha said the company continued to focus on long-term growth through clean energy expansion, transmission projects and distribution improvements across Odisha, Delhi and Mumbai. He added that rising electricity demand and India’s energy transition would continue to create growth opportunities across rooftop solar, manufacturing and customer-centric energy solutions.

NEW YORK — The Spotify app faced scattered reports of technical difficulties Tuesday, with some users experiencing playback interruptions, login errors and delayed playlist loading, though the streaming giant has not confirmed a widespread outage. As of midday May 13, 2026, Downdetector and other monitoring sites showed elevated but not critical complaint levels, primarily centered on the mobile app rather than a full service disruption.

User reports spiked modestly in the morning hours, with many complaining about songs stopping mid-play, search functions failing, or the app freezing when opening curated playlists. Android users appeared disproportionately affected, echoing similar Android-specific issues reported on May 11. Spotify’s official status channels and support forums have remained relatively quiet, suggesting the problems may be isolated or resolving quickly.

A Spotify spokesperson said the company is aware of “intermittent issues affecting a small percentage of users” and that engineering teams are actively investigating. “Most users should experience normal service,” the statement read. “We recommend updating the app and restarting devices as a first step.” No major global outage has been declared, distinguishing today’s reports from previous widespread disruptions that affected tens of thousands.

Recent History of Spotify Disruptions

Spotify has encountered several technical hiccups in 2026. On May 11, Android users reported “Something went wrong” errors when accessing playlists, a problem that was largely resolved within hours. Earlier incidents in April and February also involved app crashes and server connection issues, often tied to backend updates or high traffic periods.

The music streaming service, which boasts more than 600 million users worldwide, relies on a complex infrastructure of content delivery networks, recommendation algorithms and real-time syncing. Even minor glitches can frustrate millions when they occur during peak listening hours.

What Users Are Experiencing

Common complaints Tuesday included:

• Songs buffering indefinitely or stopping after 10-15 seconds
• Playlists failing to load or showing as empty
• Login loops on mobile devices
• Search bar returning no results
• Downloaded content becoming temporarily inaccessible

Most affected users reported the issues began around 8-10 a.m. EDT. Desktop and web player versions appeared less impacted, with many listeners switching platforms as a workaround. Spotify Premium subscribers were not spared, though free-tier users with advertisements sometimes saw additional delays.

Troubleshooting Tips

Spotify recommends the following steps for users facing problems:

• Force-close and restart the app
• Check for app updates in the App Store or Google Play
• Restart the device
• Reinstall the app if issues persist
• Clear cache (Android) or offload/reinstall (iOS)
• Try switching between Wi-Fi and mobile data

For persistent problems, users can visit Spotify’s support site or community forums, where moderators actively monitor and update ongoing issues.

Broader Context of Streaming Reliability

Spotify is not alone in facing occasional service hiccups. Major streaming platforms including Netflix, YouTube Music and Apple Music have all experienced similar intermittent issues in recent months, often linked to rapid feature rollouts, server maintenance or unexpected traffic surges. As streaming consumption grows, the pressure on backend systems increases.

Industry analysts note that Spotify has invested heavily in infrastructure resilience, including multi-region data centers and advanced load balancing. However, the complexity of personalized recommendations, podcast integration and social features creates more potential points of failure than simpler services.

Impact on Users and Business

For casual listeners, today’s glitches represent a minor inconvenience. For heavy users and those relying on Spotify for focus, workouts or commutes, interruptions can be frustrating. Content creators and podcasters have also voiced concerns about reliability during live events or scheduled releases.

From a business perspective, Spotify continues to grow its user base and improve monetization despite occasional technical hiccups. The company reported strong subscriber growth in its most recent earnings, with premium users driving the majority of revenue. Short-term outages rarely have lasting effects on overall retention when resolved quickly.

When to Expect Resolution

Most reported Spotify issues in 2026 have been fixed within a few hours. If problems persist into the afternoon or evening, users should monitor official channels for updates. Spotify’s @SpotifyStatus account on X and the company’s community board typically post acknowledgments during significant events.

In the meantime, many affected users have turned to downloaded content, alternative platforms or web browsers as temporary solutions. Spotify encourages patience while technical teams work behind the scenes.

As streaming becomes central to daily entertainment, reliable uptime grows increasingly important. Today’s scattered reports serve as a reminder of the infrastructure challenges behind seamless music delivery. For now, most Spotify users appear able to listen without major disruption, with only a subset experiencing temporary issues.

Spotify continues to dominate the music streaming landscape, and these occasional glitches have not slowed its overall momentum. Users experiencing problems today are encouraged to try basic troubleshooting or wait for an automatic resolution, which has proven effective in similar past incidents.