California Attorney General Rob Bonta unsealed records in the state's antitrust lawsuit against Amazon that allegedly detail specific price-fixing tactics used by the retailer to maintain artificially elevated prices across its platform. The documents represent a significant procedural step: evidence that was previously shielded from public view is now part of the open record, sharpening scrutiny on Amazon's pricing mechanisms before the case advances to trial. California's suit centers on claims that Amazon uses contractual agreements with third-party sellers to suppress price competition, effectively penalizing merchants who offer lower prices elsewhere and locking consumers into a higher-price environment. The unsealed materials reportedly substantiate those claims with internal documentation. For Amazon, the exposure of internal pricing strategy documents raises both litigation risk and reputational costs at a moment when federal antitrust pressure on major platforms is already elevated. Sellers operating on Amazon's marketplace and competing retail platforms will be watching whether the records prompt additional state or federal enforcement actions or strengthen parallel suits already in progress.
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.
