Reed Hastings is stepping down from Netflix, the streaming company he co-founded 29 years ago, ending his active role at the business that reshaped global media consumption. Hastings, who currently serves as chairman, cited the January 2016 global expansion, when Netflix opened its service to nearly the entire planet simultaneously, as his defining memory. His departure was announced alongside what the company described as a reflection of Netflix's institutional strength. Hastings framed his exit as a vote of confidence rather than a retreat, stating the company's foundation is now robust enough to free him for new pursuits. The transition marks a generational shift at one of Silicon Valley's most consequential companies, which grew from a DVD-by-mail service into a dominant force in streaming and original content production. Investors and analysts will watch closely for any signals on succession clarity, strategic continuity, and whether Hastings retains influence through his board position or exits the governance structure entirely.
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.
