Ford CEO Jim Farley has issued a direct public call to bar Chinese electric vehicles from the US market, stating the country 'should not let them into our country.' The statement marks one of the most explicit positions taken by a major US automaker executive on the question of Chinese EV market access. Farley's remarks land as the Biden administration's tariffs on Chinese EVs, raised to 100% in 2024, remain in place, and as Washington debates longer-term trade architecture around electric vehicles. Ford competes directly in the EV segment with models including the Mustang Mach-E and F-150 Lightning, giving Farley's position a clear commercial dimension alongside any policy argument. Chinese manufacturers such as BYD have expanded aggressively in global markets, and their potential US entry is widely viewed as a structural pricing threat to domestic OEMs. The near-term question is whether Farley's public pressure shifts the political calculus in Congress or the executive branch on EV-specific trade measures going into the next policy cycle.
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.
