The rupee extended its losing run on Wednesday to hit an all-time low as ‌persistent outflows on ⁠account ⁠of overseas debt repayments and importer hedging demand wiped the modest comfort the currency drew from a hike in ⁠duties on ‌precious metal imports.

The rupee declined 0.1% ⁠to 95.7450 per dollar, edging past its previous all-time low of 95.7375 hit on Tuesday. A sustained spike in energy prices due ‌to the U.S.-Iran war has clouded India’s macroeconomic outlook by ⁠stressing India’s external sector. Economists have marked down growth forecasts for the economy, lifted inflation projections and are forecasting persistent pressure on the rupee.

More to come…

NEW YORK — Oracle Corp. shares closed down 3.62 percent at $186.83 on Wednesday, May 13, 2026, extending recent weakness as investors continued to scrutinize the software giant’s aggressive capital spending on artificial intelligence infrastructure and cloud expansion. The decline of $7.01 per share came despite a modest pre-market rebound, reflecting ongoing unease about profitability, execution risks and broader tech sector rotation.

The move erased additional market value from the company, which has faced significant pressure throughout 2026 amid questions over the returns on its massive AI-related investments. Oracle, long a leader in enterprise databases and now a major player in cloud infrastructure, has poured billions into data centers and GPU capacity to capitalize on surging demand for AI services, but high costs and uncertain near-term margins have unsettled Wall Street.

Volume remained elevated as traders reacted to broader market signals, including mixed performance in big tech and persistent concerns about capital intensity in the AI boom. Pre-market trading Thursday showed a slight recovery to around $188, up about 0.63 percent, as some bargain hunters stepped in.

Key Factors Behind the Decline

Analysts point to several interconnected issues pressuring Oracle stock. First, ongoing skepticism about the company’s heavy capital expenditures persists. Oracle has committed tens of billions to expand its Oracle Cloud Infrastructure (OCI) to support large AI workloads, including high-profile partnerships. While cloud revenues have grown strongly, the scale of spending has raised fears of margin compression and elevated debt levels.

Second, earlier reports of Oracle canceling a major server order from Super Micro Computer — valued between $1 billion and $1.4 billion — continued to reverberate. The decision, linked to supply chain adjustments and risk management, fueled perceptions that AI infrastructure buildouts may face delays or cost overruns. This news, combined with analyst notes questioning the profitability of GPU-as-a-service offerings, has weighed on sentiment.

Third, broader market dynamics played a role. Tech stocks faced headwinds amid rotation toward other sectors and caution over valuation multiples in the AI space. Oracle’s premium positioning left it vulnerable to any signs of slowing momentum, even as the company reports robust remaining performance obligations in the hundreds of billions.

Oracle’s AI and Cloud Momentum

Despite the share price pressure, Oracle’s fundamentals show strength in key growth areas. Cloud revenues have accelerated significantly in recent quarters, with strong demand for multicloud and AI services. The company’s database business remains a cash cow, while new offerings in generative AI and enterprise applications gain traction.

Oracle has highlighted wins with major clients and raised long-term guidance in prior reports, pointing to a massive backlog. However, investors appear focused on the “show me” phase, demanding clearer evidence that heavy upfront investments will translate into sustainable profit growth and free cash flow.

Analyst Perspectives and Valuation

Wall Street reactions have been mixed. Some firms have trimmed price targets citing execution risks and financing needs, while others see the pullback as a buying opportunity in a company with durable competitive advantages. Oracle’s forward earnings multiples, while elevated historically, appear more reasonable after the year-to-date decline.

Longer-term bulls argue that Oracle’s integrated stack — combining databases, cloud infrastructure and applications — positions it uniquely for enterprise AI adoption. CEO Safra Catz and founder Larry Ellison have emphasized disciplined growth and shareholder returns, including dividends and buybacks.

Broader Implications for Tech Investors

Oracle’s performance reflects wider tensions in the AI trade. While enthusiasm for artificial intelligence remains high, questions about capital efficiency, power demands and actual monetization timelines have created volatility. Companies heavily exposed to infrastructure buildouts face particular scrutiny compared to software pure-plays with lighter balance sheets.

For Oracle specifically, the coming quarters will be critical. Investors will watch for updates on data center timelines, cloud revenue acceleration and margin trends. Any positive surprises on cost control or major new customer wins could catalyze a rebound, while further delays or spending overruns might extend the pressure.

Retail and institutional holders have felt the impact, with the stock well off its 2025 highs. Yet many long-term observers view current levels as potentially attractive for a company with strong secular tailwinds in cloud and AI. Diversification, careful position sizing and attention to upcoming earnings remain key themes for those navigating the name.

As markets digest Wednesday’s close, attention turns to any fresh corporate updates or sector catalysts. Oracle’s next earnings report will likely provide more color on progress and outlook, potentially shifting the narrative. For now, the 3.62 percent drop underscores persistent caution even as the company executes on its ambitious AI strategy.

The tech heavyweight’s path forward will hinge on balancing growth investments with shareholder returns in an environment where AI hype meets financial reality. Investors remain watchful as Oracle navigates this pivotal chapter in its evolution from database leader to AI infrastructure powerhouse.

Pharma major Cipla Ltd on Wednesday reported 55% year-on-year (YoY) decline in its consolidated net profit at Rs 555 crore in the fourth quarter, compared with Rs 1,222 crore in the last year quarter.

The Board has also recommended a final dividend of Rs 13 per share for the financial year ended March 2026. The record date for the purpose of payment of final dividend is June 5.

Revenue from operations in the reporting period decreased 3% YoY to Rs 6,541 crore.

EBITDA fell 35% to Rs 997 crore from Rs 1,538 crore in the year-ago period, while EBITDA margin contracted sharply to 15.2% from 22.8%.

For the full financial year FY26, Cipla reported revenue of Rs 28,163 crore, up 2% YoY, while annual PAT declined 26% to Rs 3,879 crore from Rs 5,273 crore in FY25. EBITDA for the year fell 17% to Rs 5,925 crore, with margin narrowing to 21% from 25.9% last year.

Cipla said its India business remained a key growth driver during the quarter. The One India business, which includes prescription, trade generics and consumer health operations, grew 15% year-on-year to Rs 3,007 crore in Q4 FY26 from Rs 2,622 crore a year ago.
The company said branded prescription therapies including respiratory, urology, anti-diabetes and cardiac segments continued to post strong growth, while consumer health brands such as Nicotex, Omnigel and Cipladine maintained leadership positions. However, the North America business remained under pressure. Quarterly revenue from the region dropped 26% year-on-year to Rs 1,414 crore from Rs 1,919 crore. Despite the decline, the company highlighted regulatory approval for the first AB-rated generic version of gVentolin manufactured from its US facility.

The One Africa business continued to deliver strong growth momentum, with quarterly revenue rising 21% year-on-year to Rs 1,236 crore. South Africa revenue jumped 33% to Rs 984 crore.

Emerging Markets and Europe revenue declined 9% YoY to Rs 819 crore during the quarter amid geopolitical uncertainties, while API and other business revenue fell sharply by 77% to Rs 64 crore.

MD and Global CEO Achin Gupta said Cipla recorded its highest-ever annual revenue during FY26 despite near-term challenges in certain markets. He added that the company would continue focusing on flagship brands, pipeline investments and regulatory resolutions going forward.

On Wednesday, following the results announcement, Cipla shares were last trading 4% higher at Rs 1,344.9 on NSE.

NEW YORK — Julia Louis-Dreyfus turned a farewell appearance on “The Late Show with Stephen Colbert” into a masterclass in comedic savagery Tuesday night, channeling her “Veep” character Selina Meyer for a blistering, backhanded tribute that left host Stephen Colbert in stitches just nine days before the show’s final episode. The 11-time Emmy winner’s surprise roast, written by former “Veep” scribes, perfectly captured the show’s bittersweet final stretch as Colbert prepares to sign off on May 21.

Louis-Dreyfus, appearing alongside Pedro Pascal, surprised even Colbert — a longtime “Veep” superfan — by announcing she had recruited writers from the HBO political satire to craft Selina Meyer-style dedications. “He does not know what I’m about to do,” she told the audience before slipping into character. What followed was a torrent of oblivious insults, backhanded compliments and signature “Veep”-esque awkwardness that had Colbert snorting with laughter.

“I’ve been on this show multiple times, and I always thought you were Rachel Maddow. Are you not?” Louis-Dreyfus began as Selina. She continued with zingers including: “You’re as relevant as the Bill of Rights,” and “Your cancellation gave Donald Trump so much pleasure, I always think of you as the Stormy Daniels of late night.”

The actress saved some of her sharpest lines for Colbert’s impending end. “When my people said I should come and say farewell to you, I was hoping it would be more of a hospice situation,” she deadpanned, drawing one of the biggest laughs of the night. She also took a jab at network executives, calling them “corporate ji**-guzzler[s]” in a line that required a broadcast bleep.

Playful Kissing Segment Adds to the Fun

The evening wasn’t all roasts. Building on Monday’s memorable moment when Colbert kissed Jimmy Fallon during a late-night hosts reunion, Louis-Dreyfus playfully referenced the clip and hinted she wanted in on the action. “No one’s watching. It’s just between us,” she said. After a quick on-air smooch that drew cheers from the audience, Colbert joked, “Well, the interview’s going great so far. Why don’t we do another take?”

Pedro Pascal later joined the lip-locking trend, telling Colbert he felt “jealous” and planting a kiss of his own. “No need! Anytime. These lips will soon be free,” Colbert quipped, nodding to the show’s approaching end.

Bittersweet Context of Colbert’s Final Weeks

The appearance comes as “The Late Show” winds down its 11-season run amid CBS’s decision to end the program due to financial pressures despite solid ratings. Colbert has used the final stretch to reunite with friends and collaborators, including a star-studded late-night hosts gathering Monday featuring Fallon, Jimmy Kimmel, Seth Meyers and John Oliver.

Louis-Dreyfus, who has appeared on the show multiple times, used the platform to pay genuine tribute beneath the barbs. Her “Veep” connection runs deep — Colbert has long cited the series as one of his favorites, and the pair share a history of sharp political satire. The segment highlighted the warm friendship between the two comedy veterans while leaning into the absurdity of the show’s looming cancellation.

Additional zingers targeted Colbert’s aging on camera (“your jowls look like the scrotum of… well, a canceled old late-night host”) and warned him against viewing unemployment as material for “Death of a Salesman.” She reassured him that the outpouring of support for Jimmy Kimmel was only because “he’s more popular.”

Louis-Dreyfus’ Enduring Legacy and Current Projects

The moment underscored Louis-Dreyfus’ status as one of television’s sharpest comedic voices. Fresh off her “Veep” run and continued work in projects like her podcast “Wiser Than Me,” she remains a go-to guest for major late-night appearances. Her ability to blend affection with ruthless humor made the tribute both hilarious and touching.

Colbert, for his part, appeared genuinely moved and entertained throughout. The segment fit perfectly into the reflective, celebratory tone of the show’s final episodes, which have featured high-profile guests including Barack Obama and Tom Hanks in coming days.

Fan and Industry Reactions

Social media lit up immediately after the episode aired, with clips of the Selina Meyer roast circulating widely. Fans praised Louis-Dreyfus for capturing the spirit of “Veep” while giving Colbert a memorable send-off. Many noted the timing, coming amid broader conversations about the future of late-night television in a shifting media landscape.

Industry insiders view the final weeks as a victory lap for Colbert, who transformed “The Late Show” into a platform known for sharp political commentary, celebrity interviews and viral moments. Louis-Dreyfus’ appearance added another highlight to a memorable farewell tour.

As “The Late Show” counts down to its May 21 finale, moments like Tuesday’s roast remind viewers why the program resonated for over a decade. Julia Louis-Dreyfus delivered not just laughs but a fitting, affectionate farewell to a fellow comedy icon — wrapped in the perfect “Veep”-style packaging of awkward sincerity and brutal honesty.

The episode, which also featured Pascal, balanced humor, nostalgia and genuine warmth as Colbert prepares to step away from the desk. For fans of both stars, it was a night that showcased why their chemistry has always been appointment television.

SAN ANTONIO — Victor Wembanyama etched his name into NBA playoff lore Tuesday night, becoming the third-youngest player in league history to record at least 25 points, 15 rebounds and 5 assists in a postseason game as the San Antonio Spurs defeated the Minnesota Timberwolves to seize a 3-2 series lead in the Western Conference semifinals.

The 22-year-old phenom delivered a dominant 27-point, 17-rebound, 5-assist performance — including a playoff career-high in rebounds and three blocks — to lead the Spurs to a hard-fought victory at the Frost Bank Center. At 22 years and 128 days old, Wembanyama trails only Magic Johnson and Luka Dončić on the all-time list for such a versatile statistical achievement in the playoffs.

Wembanyama shot 9-of-16 from the field while showcasing his full two-way arsenal: rim protection that frustrated Minnesota’s Rudy Gobert, precise passing out of double teams and scoring bursts that shifted momentum. His performance helped the Spurs pull away in the second half, advancing them one win closer to their first Western Conference Finals berth since the Kawhi Leonard era.

Historic Night in Context

Only Magic Johnson at 20 years, 276 days and Luka Dončić at 21 years, 177 days accomplished the 25-15-5 feat at a younger age. Wembanyama’s milestone underscores his rapid ascent from No. 1 overall pick in 2023 to one of the league’s most impactful superstars. The performance came in a high-stakes Game 5 where the Spurs needed to protect home court after splitting the first four games of the series.

De’Aaron Fox provided strong complementary scoring and playmaking, while rookie Dylan Harper continued his impressive postseason emergence with flashy handles and finishes. Bench contributors like Keldon Johnson and Stephon Castle added energy and clutch plays, highlighting San Antonio’s depth under Coach Gregg Popovich.

Minnesota battled throughout, led by Anthony Edwards’ athletic drives and Naz Reid’s perimeter shooting. Gobert competed inside but repeatedly encountered Wembanyama’s length and timing, resulting in several highlight-reel blocks and defensive stands that energized the home crowd.

Second-Half Surge Decides Outcome

The game remained competitive in the first half as both teams traded runs. Wembanyama set the tone early, controlling the paint and initiating offense from the high post. San Antonio built a modest halftime lead before exploding out of the locker room with extended scoring bursts.

Castle attacked the basket aggressively, drawing fouls and finishing through contact. Harper displayed poise beyond his years, while the Spurs’ ball movement created open opportunities across the floor. Minnesota mounted several comeback attempts, but San Antonio’s defensive rotations and superior rebounding proved decisive in the fourth quarter.

The Spurs outrebounded the Timberwolves significantly, with Wembanyama anchoring the effort. His ability to guard multiple positions while serving as the primary offensive option highlighted why many consider him a frontrunner for both MVP and Defensive Player of the Year honors this season.

Series Outlook and Spurs Rebuild

The win gives the Spurs the series advantage heading into Game 6 in Minnesota. San Antonio now holds two opportunities to advance — one at home if necessary — against a Timberwolves team that has shown resilience but faces significant matchup challenges against Wembanyama.

This postseason represents a major milestone in the Spurs’ rebuild. After years of tanking and development, the combination of Wembanyama’s superstar talent with young pieces like Harper and Castle has transformed San Antonio into a legitimate contender. Popovich’s system continues to emphasize discipline, defense and unselfish play, producing results even as the legendary coach nears the end of his career.

For Minnesota, the loss highlights the difficulties of containing a player with Wembanyama’s unique physical tools. Edwards delivered strong moments but needed more consistent support from teammates to overcome San Antonio’s balance.

Fan and League-Wide Reactions

Social media exploded with praise for Wembanyama’s performance. Fans called him an “alien,” a “monster” and the future face of the league. Highlights of his blocks, passes and scoring quickly went viral, drawing comparisons to legendary two-way players like a young Shaquille O’Neal or Kevin Garnett.

League observers noted the Spurs’ chemistry and depth as major advantages. The series has featured physical play, star-driven moments and momentum swings, living up to expectations for a competitive Western Conference matchup. Many predict a potential Western Conference Finals clash with the Oklahoma City Thunder would deliver another showcase of rising young talent.

Wembanyama’s Growing Legacy

At just 22, Wembanyama already ranks among the most complete players in the NBA. His combination of size, skill, basketball IQ and work ethic has drawn admiration across the league. Tuesday’s historic line adds to a growing list of milestones, including Defensive Player of the Year contention and consistent triple-double threats.

The performance also served as motivation after previous games in the series. Wembanyama appeared locked in from tip-off, responding to physical play with composure and dominance. His leadership on both ends helped elevate teammates and quieted Minnesota’s crowd during key stretches.

As the series shifts back to Minnesota for Game 6, the Timberwolves must find defensive answers and offensive consistency to force a Game 7. The Spurs will aim to maintain focus on the road and close out the series, relying on home-court momentum from this Game 5 triumph.

Victor Wembanyama’s latest masterpiece not only propelled the Spurs forward but also reinforced his status as one of basketball’s brightest stars. Whether San Antonio advances further or not, nights like Tuesday remind fans why the league and global audiences are captivated by the beginning of what could become a transformative era in NBA history.