Tim Cook plans to step down as Apple's CEO in September, with hardware chief John Ternus set to take over. Cook's tenure built Apple into one of the most valuable companies in the world, driven by tight control over its hardware, software, and App Store ecosystem. Ternus inherits that foundation but faces a meaningfully harder operating environment. The App Store's 30% commission, a major profit engine, is under legal and regulatory pressure in multiple markets. Courts and regulators in the US and EU have already forced Apple to allow more payment flexibility, chipping away at a revenue stream that feeds directly into Apple's high-margin services segment. Apple's behind-the-scenes influence over app distribution and payments is shrinking. Investors will watch whether Ternus can protect services margins while managing an AI transition that Apple has moved through more slowly than rivals. Leadership continuity and product pipeline clarity will be the first signals markets look for after the handover.
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.
