Business
JSW Paints frontrunner to acquire Akzo Nobel India in ₹10,000-12,000 crore deal

businessline had previously reported that JSW Paints, Indigo Paints (backed by PE firm Advent) and possibly Pidilite are the ones in fray. Two binding bids had been placed by April. AkzoNobel India, the fourth player by market size, after Asian Paints, Berger and Kansai Nerolac, is centred on decorative paints for homes and commercial spaces, operates as a largely self-contained unit, insulated from global supply chain disruptions. The local business of AkzoNobel includes the decorative paints segment as well as the industrial paints segment and the firm’s stock price has rallied by 35.79 per cent in the last year.AkzoNobel India & JSW Group did not respond to queries by businessline. Pidilite has not commented on a previous questionnaire sent by the paper.

The fight for Akzo Nobel’s India business has now boiled down to just two players – JSW Paints and Indigo Paints – with Pidilite not putting in bids, sources said. Amongst the two, JSW Paints is said to be a frontrunner, those aware of the discussions revealed. The India business of Akzo has a market capitalisation of ₹15000 crore-odd; which includes some verticals like powder coating that wouldn’t be included in the sale.
Business
Wipro announces Innovation Network; launches new 60,000 sq. ft. Innovation Lab in Bengaluru
Wipro Innovation Network
Wipro has announced the launch of its global Wipro Innovation Network designed to accelerate strategic, client-centric co-innovation. The network will leverage frontier technologies ranging from AI to Quantum Computing. The company also announced the opening of its newest 60,000 sq. ft. Innovation Lab at its Kodathi campus in Bengaluru.Published on May 29, 2025
The Wipro Innovation Network is said to focus on five strategic frontier technology themes: Agentic AI, robotics with embodied AI, quantum computing, digital ledger technology, and quantum-safe cyber resilience.It will bring together Wipro’s innovation ecosystem, including the Innovation Labs, the Partner Labs, Wipro Ventures, its crowdsourcing platform Topcoder, alliances with leading academic and research institutions, and its deep technology talent to create an ongoing loop of ideation, research and innovation.Companies to follow
Wipro Innovation Network
“At Wipro, we believe that collaboration fuels innovation,” said Srini Pallia, CEO and Managing Director, Wipro Ltd. “The Wipro Innovation Network is a catalyst for AI-powered co-innovation. By bringing together our global clients, partners, academia, and tech communities, we aim to accelerate innovation that solves real-world challenges, unlocks bold new possibilities, and drives competitive edge for our clients.”They can also experience a range of advanced solutions, including agentic systems for software engineering, Smart Factories powered by embodied AI, the Cloud Car, Inspect AI, Wealth AI, Earnings AI, and quantum computing applications for drug discovery, among others. Published on May 29, 2025 Companies to follow
The Wipro Innovation Network is said to focus on five strategic frontier technology themes: Agentic AI, robotics with embodied AI, quantum computing, digital ledger technology, and quantum-safe cyber resilience.
Business
Israel confirms use of laser weapons to defend against drone attacks

The larger Iron Beam laser, developed by Rafael Advanced Defense Systems and Elbit Systems Ltd., will be integrated into Israel’s multi-level air defenses in the next six months. The technology has been touted as a cheaper way to repel drones and short-range projectiles, with each interception costing less than . The system, however, still has numerous technical limitations and can’t work in cloudy weather.More stories like this are available on bloomberg.comIsrael has deployed laser weapons during its ongoing war to deflect “scores” of aerial attacks, including from drones, the Defence Ministry said in a statement on Wednesday. This is the first time the country has acknowledged the use of directed-energy technologies in the battlefield.The systems were described as a less powerful “prototype” of the 100-kilowatt Iron Beam laser interceptor that will be operational in Israel by the end of the year. The Defence Ministry also released footage of what it said were the lasers intercepting fixed-wing drones in the sky.


The announcement suggests that Israel may soon pull ahead of other countries in the race for laser weapons. Nations have pursued the technology for decades, but efforts to scale lasers have been complicated by significant technical difficulties. The systems were described as a less powerful “prototype” of the 100-kilowatt Iron Beam laser interceptor that will be operational in Israel by the end of the year. The Defence Ministry also released footage of what it said were the lasers intercepting fixed-wing drones in the sky. Israel’s air defenses have faced over 26,000 aerial attacks from missiles, drones and rockets since Oct. 2023. Most of the projectiles, which were fired from Gaza, Lebanon, Syria, Iran, Iraq and Yemen, were intercepted by the Iron Dome and long-range Arrow shield systems. Many drones, however, penetrated its defenses.
Business
Trump admin moves to cancel all federal contracts with Harvard in antisemitism crackdown

Harvard though has been front and center in the White House’s campaign, with the administration suspending more than .6 billion in federal research money and saying the school won’t be able to receive new funding. Trump has also repeatedly called for Harvard to lose its tax-exempt status, which would have significant financial implications, even with the school’s billion endowment.


“We needed to move quickly because the consequences of revocation of visas for our international students were dire,” Garber told the Harvard Gazette. There will be a court hearing this week where Harvard will seek to extend the restraining order, he said.Harvard though has been front and center in the White House’s campaign, with the administration suspending more than .6 billion in federal research money and saying the school won’t be able to receive new funding. Trump has also repeatedly called for Harvard to lose its tax-exempt status, which would have significant financial implications, even with the school’s billion endowment.Homeland Security Secretary Kristi Noem has argued that Harvard’s responses to the government’s requests to provide information about misconduct by foreign students were insufficient.Administration officials are pressuring schools including Columbia, Cornell, Northwestern and other elite universities to institute broad policy changes, raising concerns over academic freedom, free speech and government interference. On Tuesday, Secretary of State Marco Rubio ordered US embassies worldwide to stop scheduling new interviews for student-visa applicants as the Trump administration weighs stricter vetting of social-media profiles, a move that will impact higher education across the country.The letter, first reported by the New York Times, asks agencies to report on their “actions or intended actions with respect to each referenced contract” by June 6.More stories like this are available on bloomberg.comPublished on May 27, 2025 President Donald Trump’s administration is moving to cancel all remaining federal contracts with Harvard University, marking the latest escalation of its battle against the oldest and richest US school. Federal Acquisition Service Commissioner Josh Gruenbaum, in a letter seen by Bloomberg News, is directing federal agencies to review their contracts, terminate those that they deem not critical and transition to other vendors if necessary. The contracts are worth an estimated 0 million, according to a person with knowlege of the matter, who asked not to named discussing the administration’s moves. The government has sought a series of changes as a condition of continuing its financial relationship with the university. It has demanded the university remake its governance, transform admissions and faculty hiring — which the administration has called discriminatory — as well as stop admitting international students who officials say are hostile to American values. Harvard President Alan Garber, who’s Jewish, has apologized for Harvard’s handling of antisemitism on campus and acknowledged that he has experienced prejudice himself at the school. But he has also said the extent of the government’s demands show that “the intention is not to work with us to address antisemitism.” The university has sued the US government over the cuts to funding as well as the block on enrolling international students. The university last week won a temporary court order blocking the government from enforcing the foreign student ban.
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