Reed Hastings, Netflix's cofounder, is stepping down from his role at the company following the loss of a Warner Bros content deal, a combination that sent Netflix shares down roughly 8 percent. The dual announcement, a founding-era executive exit paired with a significant content licensing setback, rattled investor confidence in a single session. Content deals with major studios function as both subscriber acquisition tools and defensive moats; losing Warner Bros access removes a library anchor that directly supports retention and reduces Netflix's leverage in future licensing negotiations. Investors will now watch whether management accelerates its push into original production to offset third-party library erosion, and whether Hastings's departure signals a deeper strategic reset or a planned succession. The 8 percent stock drop reflects the market pricing in both near-term content gaps and uncertainty about leadership continuity at a moment when streaming competition remains intense.
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.
