SpaceX accelerates IPO timeline, targets June 12 listing on Nasdaq

SpaceX is preparing for a major stock market debut. The rocket and satellite maker plans to list its shares on the Nasdaq exchange as early as June 12. This highly anticipated IPO could be the largest ever, with a target valuation of $1.75 trillion. The company has accelerated its timeline, with a roadshow planned for early June.

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Gig workers’ union calls for five-hour shutdown over rising fuel costs; protest on Saturday

Gig and platform service workers are planning a five-hour nationwide shutdown on Friday to protest rising fuel prices and stagnant pay. The union demands an immediate revision of per-kilometre service rates, warning that increased fuel costs are eroding workers' earnings.

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D2C brands feel the pinch as consumers cut spending

Rising input costs and shrinking demand are squeezing smaller brands, with consumer spending projected to drop 5-6% next quarter. D2C brands face pressure as inflation and a weakening rupee push consumers towards essential purchases, impacting discretionary spending and average order values. Companies are absorbing costs or planning price hikes up to 10%.

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New York, California pension leaders oppose 'extreme' SpaceX control structure

US pension funds are raising significant red flags regarding SpaceX's imminent entry into the stock market. Leaders from California and New York have penned letters to Elon Musk, expressing their deep apprehensions about the governance framework that it affords him overwhelming influence. They urge for amendments to the voting rights and removal protections before the anticipated IPO takes place.

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After mass layoffs, Oracle pulls campus offers at IITs & NITs

US tech giant Oracle has rescinded dozens of job offers extended to students at premier Indian engineering institutes, including IITs and NITs. This development, impacting both full-time and internship roles, has caused significant anxiety among students as the placement season nears its end amidst a slow tech hiring market.

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Ex-Peak XV trio launches Mettle Capital, targets $350–400 million fund to back Indian startups

Three former Peak XV Partners, Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma, have launched Mettle Capital. The new venture capital fund aims to raise $350-400 million. Mettle Capital will invest in Indian startups at Series A and B stages, with selective seed bets. The fund plans to close its fundraising within the next quarter and begin deploying capital by September-October.

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OpenAI chief Altman has over $2 billion stake in companies that dealt with OpenAI: court filing

OpenAI CEO Sam Altman's significant investments in companies doing business with his AI firm have come under scrutiny. Court documents revealed stakes worth over $2 billion. State attorneys general and Elon Musk have raised self-dealing claims. A congressional investigation is also underway. Altman has denied wrongdoing, stating he recused himself from key decisions.

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Board nomination framework changes part of effort to achieve Indian-owned company status: Swiggy

Swiggy has announced upcoming adjustments to its board nomination policies as part of its strategy to establish itself as an Indian owned and controlled company. This initiative is designed to align with foreign exchange compliance requirements.

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Meta offers rival AI chatbots free access to WhatsApp for a month

Meta Platforms is offering rival AI chatbots free access to its WhatsApp messaging service for one month. This move comes as Meta discusses commitments with EU antitrust regulators. The European Commission had indicated it was inclined to order Meta to provide such access. Previously, Meta had restricted its own AI assistant to WhatsApp, later proposing a fee for rivals.

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Anthropic expands Claude's AI tools for law firms, lawyers

Artificial intelligence (AI) company Anthropic has launched new tools for lawyers using its Claude AI assistant. These features offer specialized legal topic support and access to other legal research and AI products. Law firms can now securely connect Claude with platforms like Thomson Reuters for research and document management.

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Netflix sued by Texas for allegedly spying on children, addicting users

Texas has sued Netflix. The state attorney general claims the streaming giant spied on children and consumers. Netflix allegedly collected data without consent and designed its platform to be addictive. The company is accused of tracking viewing habits and selling them for profit. Texas seeks to stop this practice and impose fines.

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