Apple has appointed John Ternus as its new CEO, replacing Tim Cook, according to the announcement. Ternus, currently Apple's Senior Vice President of Hardware Engineering, has been with the company for over two decades and has overseen the development of major product lines including iPhone, Mac, and iPad hardware. The leadership change marks the first CEO transition at Apple since Tim Cook took over from Steve Jobs in 2011. Cook's tenure saw Apple grow into the world's most valuable public company, with a market cap that repeatedly crossed $3 trillion. Ternus is a hardware-focused executive stepping into a role that will require him to navigate Apple's ongoing push into services, its AI strategy, and its complex supply chain diversification away from China. Investors will watch closely for any shift in capital allocation, product roadmap priorities, or management restructuring under the new leadership. Apple has not yet confirmed details about Tim Cook's departure terms or whether Ternus will make changes to the existing executive team.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
