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TechFlipkart Group reported an 18% year-over-year jump in consolidated operating revenue to ₹1.45 lakh crore in FY26, driven by a 23% rise in gross margins. The group's adjusted EBITDA improved by around ₹1,500 crore, with net losses narrowing by 2.1%. The company's B2C arm, Flipkart Internet Private Limited, saw a 19.3% decline in revenue from operations to ₹16,295 crore.
TechTesla demonstrated its next-generation Roadster, a two-seater electric supercar that can drive upside down, fly, and accelerate to 60mph in under a second, at an event in Waco, Texas. The car features attitude-control thrusters and main thrusters, generating rocket-like capabilities, but its production is uncertain due to regulatory and safety concerns.
Netflix plans to cut nearly 1,000 jobs, about 6% of its workforce, as part of its "organizational changes". The company cited a need to prioritize resources and focus on high-impact areas to improve its service. Despite growing profits, Netflix's forecast for the third quarter fell below expectations, amid increasing competition in the streaming space.
A former Apple employee, Chang Liu, allegedly sent over 100 unreleased files to a personal account and made a presentation to senior Apple leadership about an unreleased product, sparking a trade secret dispute with OpenAI. OpenAI claims its confidential information is now circulating inside Apple, while Apple denies the allegations and says it has policies to prevent such misuse. The case is set to go to trial in October 2027.
Netflix is cutting nearly 1,000 jobs, about 6% of its workforce, as tech giants face layoffs due to AI. The company's product, tech, and HR departments will be most affected. Despite the cuts, Netflix plans to invest in high-impact areas to improve its service and deliver its full-year forecast.
Microsoft has revamped its Photos app for Windows 11, merging galleries from PC, OneDrive, and iCloud into a single space. The new app offers improved performance, a cleaner layout, and enhanced editing tools, including support for HDR and HEIC images. The update is rolling out today for Windows Insiders, with a full launch expected later this year.
Elon Musk has donated at least $276 million to Republican groups since July, surpassing the largest political donation in American history. The majority of the funds, $158 million, have been directed towards the Senate Leadership Fund to secure a Republican Senate majority. Musk's donations are significantly higher than his previous pledge to spend less on politics.
Boldfit, a Bengaluru-based D2C fitness and sportswear startup, has raised ₹400 Cr from Bharat Value Fund as part of its Series B funding round. The investment will support nationwide retail expansion, product innovation, and manufacturing, with plans to pursue selective acquisitions to strengthen its presence in India's growing ₹16 Bn fitness and sports goods market.
The Supreme Court has questioned the Centre's decision to cap trade margins at 30% for non-scheduled cancer drugs, asking why this benefit should be confined to cancer drugs and not extended to other essential medicines. The Centre has proposed the cap to reduce prices and improve affordability, with estimated annual savings of around ₹2,500 crore. The court has given the Centre until October 27 to work out the modalities for the cap.
API Holdings, parent company of PharmEasy, narrowed its consolidated net loss by 67% to ₹520 Cr in FY26, driven by improved margins and revenue growth. The company attributed the improvement to its focus on customer experience, higher-value profitable segments, and digital capabilities, with its operating revenue growing 12.7% YoY to ₹6,618.5 Cr.
