News 5 May 2026

Coinbase Layoffs: 700 Jobs Cut as Brian Armstrong Bets on AI in Crypto Slowdown
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Coinbase Layoffs: 700 Jobs Cut as Brian Armstrong Bets on AI in Crypto Slowdown

Coinbase Global will cut about 700 jobs, or 14% of its workforce, as part of a restructuring aimed at reducing costs and adapting to artificial intelligence. The company expects $50–$60 million in charges, mostly for severance, with the plan largely done by the end of Q2. Shares rose 0.5% after the announcement. CEO Brian Armstrong cited slower trading and increased AI use as key factors.
May 5, 2026
Hochtief Stock Tops €500 as AI Data-Center Boom Sends Shares Past Analyst Targets
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Hochtief Stock Tops €500 as AI Data-Center Boom Sends Shares Past Analyst Targets

Hochtief shares jumped 13.1% to €517 on Tuesday, surpassing analyst targets and leading the MDAX after hitting €523 intraday. Investors are betting on Hochtief’s role in building AI data centers, with the company reporting €16.8 billion in new tech orders for 2025 and forecasting up to €1.025 billion operational net profit for 2026. Jefferies raised its price target to €480 but kept a “Hold” rating. Quarterly results are due May 11.
May 5, 2026
XRP ETF Hype Meets a Reality Check as Inflows Break Near $1.40
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XRP ETF Hype Meets a Reality Check as Inflows Break Near $1.40

U.S. spot XRP ETFs saw a $35,210 outflow last week, ending three weeks of inflows totaling $82.88 million, according to SoSoValue data. XRP traded near $1.41 Tuesday with a market cap of $87.27 billion, ranking fourth among cryptocurrencies. Rakuten Wallet launched Android support for XRP on April 30. Standard Chartered cut its 2026 XRP price target to $2.80, citing weaker market conditions.
May 5, 2026
OnePlus Summer Sale Starts May 8: Full List Of OnePlus 15, OnePlus 13R And Pad 4 Deals
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OnePlus Summer Sale Starts May 8: Full List Of OnePlus 15, OnePlus 13R And Pad 4 Deals

OnePlus will launch its Summer Sale in India at midnight on May 8, offering discounts and bank deals on phones, tablets, and earbuds across major online and offline channels. The OnePlus 13 drops to an effective Rs 57,999 after combined offers, with similar cuts on other models. India’s smartphone shipments fell 3% year-on-year in Q1, the weakest in six years. Sale prices depend on payment method, card, and stock at checkout.
May 5, 2026
Google Pixel 11 Leak Reveals Tensor G6 Power — and a RAM Cut Buyers May Notice
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Google Pixel 11 Leak Reveals Tensor G6 Power — and a RAM Cut Buyers May Notice

Google’s upcoming Pixel 11 phones may launch with lower base RAM than the Pixel 10 series, offering 8GB on the standard model and 12GB on some Pro variants, according to leaks. The new lineup is expected to feature a Tensor G6 chip, updated camera hardware, and brighter screens. An under-display face-unlock system is reportedly delayed. A small RGB LED array may appear in the camera bar, while the infrared thermometer could be dropped.
May 5, 2026
Cognizant Layoffs: Up To 15,000 Jobs May Be At Risk As India Braces For AI Shake-Up
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Cognizant Layoffs: Up To 15,000 Jobs May Be At Risk As India Braces For AI Shake-Up

Cognizant is considering cutting 12,000 to 15,000 jobs globally, with most reductions likely in India, Moneycontrol reported, citing sources. The company has not confirmed numbers but expects $200 million to $270 million in severance costs under its Project Leap restructuring. Cognizant ended March with 357,600 employees and reported $5.41 billion in first-quarter revenue.
May 5, 2026
UK Summer Flights Could Be Cut As Jet Fuel Shortage Fears Hit Holiday Season
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UK Summer Flights Could Be Cut As Jet Fuel Shortage Fears Hit Holiday Season

Britain plans to let airlines cancel or combine summer flights in advance to conserve jet fuel as supply chains tighten after the Strait of Hormuz closure. The Department for Transport says there are no immediate shortages, but airlines will not lose airport slots if they cut flights. The UK imports about 65% of its jet fuel, mostly from the Middle East. Ministers say extra fuel is being sourced from the US, west Africa, and local refineries.
May 5, 2026
BYD’s Reported VW Dresden Plant Move Hits a Hard Denial — And a Bigger EV Question
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BYD’s Reported VW Dresden Plant Move Hits a Hard Denial — And a Bigger EV Question

Volkswagen has denied reports that China’s BYD is in talks to take over part of its Gläserne Manufaktur in Dresden, after German media cited a CarNewsChina story. The Dresden plant stopped car production in December 2025, with Volkswagen planning an innovation campus on the site. BYD declined to comment. EU tariffs on Chinese EVs and slow BYD market growth in Germany add pressure to localize production.
May 5, 2026
Rheinmetall Stock Jumps After Q1 Revenue Miss as €73 Billion Backlog Backs 2026 Outlook
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Rheinmetall Stock Jumps After Q1 Revenue Miss as €73 Billion Backlog Backs 2026 Outlook

Rheinmetall shares rose as much as 3.8% on Tuesday despite first-quarter revenue missing forecasts at €1.94 billion, below the €2.3 billion expected. Operating profit climbed 17% to €224 million. The company maintained its 2026 targets and said delayed sales should shift to a stronger second quarter. Order backlog increased 31% year-on-year to €73 billion.
May 5, 2026
Novartis to Shut German Plant, Putting 220 Jobs on the Line in Pharma Shift
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Novartis to Shut German Plant, Putting 220 Jobs on the Line in Pharma Shift

Novartis will close its Wehr, Germany, production site by the end of 2028, affecting about 220 jobs. The plant, which makes tablets and capsules for established medicines, is no longer considered competitive. Novartis will invest 35 million euros in a new cancer-therapy facility in Halle, set to open in 2027. Consultations with employee representatives are pending.
May 5, 2026
BioNTech Stock Faces A Hard Cancer Pivot Test After Q1 Loss Widens And 1,860 Jobs Are Hit
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BioNTech Stock Faces A Hard Cancer Pivot Test After Q1 Loss Widens And 1,860 Jobs Are Hit

BioNTech’s first-quarter revenue dropped to €118.1 million, with net loss widening to €531.9 million. The company will exit sites in Germany and Singapore, affecting up to 1,860 jobs, and plans a $1 billion share buyback. Cash reserves stood at €16.8 billion at the end of March. BioNTech maintained its 2026 revenue outlook and is focusing on late-stage cancer drugs.
May 5, 2026
Bullish’s $4.2 Billion Equiniti Deal Tests Wall Street’s Tokenized Stock Push
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Bullish’s $4.2 Billion Equiniti Deal Tests Wall Street’s Tokenized Stock Push

Bullish will acquire Equiniti from Siris Capital in a $4.2 billion stock-and-debt deal, adding a regulated shareholder-records business to its portfolio. The transaction includes $1.85 billion in assumed debt and $2.35 billion in Bullish stock priced at $38.48 per share. Bullish shares fell as much as 8.7% in premarket trading following the announcement. Equiniti serves over 20 million shareholders and processes $500 billion in annual payments.
May 5, 2026
UK & AU Stock Market Today: Live Updates 05.05.2026
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UK & AU Stock Market Today: Live Updates 05.05.2026

LIVEMarkets rolling coverageStarted: May 5, 2026, 12:00 AM EDTUpdated: May 5, 2026, 11:59 PM EDT ANZ Banking Group Share Price Valuation: Key Metrics Explained May 5, 2026, 11:45 PM EDT. The ANZ Banking Group (ASX: ANZ) share price hovers around $37.15. Investors eyeing long-term potential can analyze workplace culture through platforms like Seek, where ANZ's rating of 3.3 outperforms the banking sector average. Profitability hinges on the net interest margin (NIM), the spread between what banks pay savers and earn from loans; ANZ's NIM of 1.57% lags behind the industry average of 1.78%, hinting at lower lending returns. The bank's
May 5, 2026
RBC and BMO Near $2 Billion Moneris Sale to Verifone Owner, Report Says
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RBC and BMO Near $2 Billion Moneris Sale to Verifone Owner, Report Says

Royal Bank of Canada and Bank of Montreal are in advanced talks to sell Moneris to Francisco Partners in a deal valuing the payments processor at over $2 billion, the Financial Times reported. Moneris processes about one in three transactions in Canada and serves 325,000 merchant locations. An agreement could be reached by summer, but other bidders may still emerge. All parties declined to comment.
May 5, 2026
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Stock Market Today

  • CVS Group Advances Expansion with Strategic Refinancing
    May 26, 2026, 5:21 AM EDT. CVS Group has progressed its expansion efforts through a strategic refinancing deal aimed at strengthening its financial position. The refinancing will support the company's growth initiatives and operational improvements. This move reflects CVS Group's intent to optimize its capital structure and facilitate potential acquisitions or investments. Industry analysts view this refinancing as a pivotal step for the group's future development amid a competitive market landscape.