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Class 9 pass founder hired a taxi driver who now leads procurement
Times of India – World
· India
A Hyderabad founder hired a taxi driver with limited education as his first employee. He invested in the individual, believing in his potential for growth. T…
Shiprocket trims IPO size; Cresa’s creative fix for sanitary pad disposal
Your Story
· India
Shiprocket has reduced the size of its IPO by nearly 31% to Rs 1,617.6 crore, from Rs 2,342 crore. Meanwhile, Cresa makes hot-water-soluble sanitary pads that …
Paramount concessions lead UK to approve takeover of Warner Bros
The Guardian – World
· Europe
Culture secretary Lisa Nandy says she will not intervene in £85bn deal after securing guarantees on Channel 5The UK culture secretary, Lisa Nandy, has said she…
Merchant charges for UPI soon? LS passes Bill allowing banks to levy fees
Times of India – World
· India
This empowers the government to allow banks and other payment service providers to impose charges on transactions conducted through the unified payments interf…
Octopus Energy denies it is anti-union as workers push for recognition
The Guardian – World
· Europe
GMB says that as a top-rated ethical company, UK’s largest energy firm should welcome involvement of unionsWorkers are pushing for union recognition at the UK’…
Will Jetstar’s plan to charge for overhead locker space work in Asia-Pacific?
South China Morning Post – World
· China
Jetstar’s plan to charge passengers for overhead locker space is set to test how far budget airlines in the Asia-Pacific region can go in making travellers pay…
Swiggy targets Rs 10,000 Cr adjusted EBITDA by FY31
Your Story
· India
The company said by FY31, its food delivery business is expected to grow its GOV by 2.5-3.5 times and generate around Rs 5,000 crore in adjusted EBITDA, driven…
How FLiCKA built trust to become India’s fastest growing beauty brand
Your Story
· India
Mohit Pardasani’s decades of retail experience, a retail‑first strategy, and a conviction in quality over marketing have powered FLiCKA’s rise to a Rs 100 cror…
Ola Electric opens sales, service network to dealer partners across India
Your Story
· India
Over the coming months, the company stores will transition to focus on brand and product experience, while dealer partners will become the backbone of local sa…
Quick commerce startup Homerun raises $12M in Series A+
Your Story
· India
The round is led by Nexus Venture Partners with participation from existing investors Sorin Investments, Titan Capital, Sparrow Capital and Consumer Collective…
Hong Kong urged to be ‘super partner’ in businesses’ overseas expansion push
South China Morning Post – World
· China
Hong Kong should act as a “super partner” helping enterprises expand into Asean, Middle Eastern, Central Asian and European markets, as well as build an annual…
Air India names Tewolde Gebremariam CEO and managing director
Times of India – World
· India
- Journalist at The Times of India with 2+ years' experience, specializing in foreign affairs and international politics, known for precise language and clever…
Google emerges as India's most attractive employer brand, followed by Tata Group, Amazon: Report
Your Story
· India
The other companies that feature in the top 10 most attractive employer brands in India in REBR 2026 include Samsung India, Infosys, Reliance Industries, ITC G…
How Muthu Murugappan is building EID Parry's next growth engine with jaggery
Your Story
· India
Targeting the $5.8 billion global jaggery market, EID Parry is combining traditional knowledge with technology through India's first large-scale automated jagg…
Amid slowing hotpot growth in China, Haidilao takes on biggest American burger brands
South China Morning Post – World
· China
China’s largest hotpot chain Haidilao International Holding is aiming to further diversify its business with hamburger stores – following the example set by Am…
Freshworks beats revenue estimates, turns profitable in Q2
Your Story
· India
SaaS firm Freshworks reported a net profit of $3.2 million in the second quarter of 2026, reversing a year-ago loss, as revenue climbed 16% to $237.4 million.
Video game maker EA bought by Saudi-led group for $55bn
The Guardian – World
· Europe
Company acquired in deal involving Affinity Partners, a firm run by Donald Trump’s son-in-law Jared KushnerElectronic Arts, the maker of video games such as Th…
Hong Kong ship crews stranded in Strait of Hormuz ‘safe and offered counselling’
South China Morning Post – World
· China
Crew members aboard about 80 Hong Kong-owned ships stranded in the Strait of Hormuz for five months have enough supplies and access to video counselling, an in…
Cathay Pacific posts 71% profit rise to HK$6.24 billion in first half of year
South China Morning Post – World
· China
Hong Kong flag carrier Cathay Pacific Airways has reported a 71 per cent year-on-year rise in net profit to HK$6.24 billion (US$802 million) for the first six …
Nykaa net profit soars over 3X; VC funding remains modest
Your Story
· India
Omnichannel beauty and fashion retailer Nykaa has clocked a more than 3x rise in net profit and a 29% rise in revenue for the first quarter of the 2026-27 fisc…
Jardines ending Oxbridge undergrad scholarships to ‘maximise impact’ for more students
South China Morning Post – World
· China
Hong Kong-based conglomerate Jardine Matheson has said it ended a 44-year-old undergraduate scholarship programme for Oxford and Cambridge universities to “max…
Nazara Tech slips into Rs 82.5 Cr loss in Q1; Nitish Mittersain steps down as CEO
Your Story
· India
Beyond these results, the Board is scheduled to meet on August 6, 2026 to consider raising additional funds through the issuance of equity shares or other secu…
Bringing India’s forgotten games back to life; MobiKwik posts Rs 7.6 Cr net profit
Your Story
· India
Vinita’s unending fascination for traditional Indian games is the fuel that keeps Kreeda going. The Chennai-based organisation is dedicated to researching, doc…
WestJet Strike Ends After Canadian Airline Reaches Deal With Flight Attendants
The New York Times – World
· US
A tentative deal was reached early Monday morning after 4,400 flight attendants walked off the job a day earlier, forcing the cancellation of hundreds of fligh…
EV maker Ather Energy Q1 losses narrow by 71% to Rs 51 Cr
Your Story
· India
Ather said it is seeing strong tailwinds due to policy support and consumer demand. The company delivered 83,173 units during the quarter, up 80.5% YoY.
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Class 9 pass founder hired a taxi driver who now leads procurement
Source: Times of India – World
·
- Hyderabad taxi driver's 10-year-old conversation altered his life.
- He didn’t foresee its impact then.
- The other man also didn’t know its significance.
- The encounter marked a turning point in his journey.
Jammu & Kashmir's startup reckoning: What the next chapter demands
Source: Your Story
·
- J&K's startup ecosystem built foundational support (incubators, VC funds, boot camps) but now needs to prove sustainability, scalability, and competitive growth through survival rates and revenue.
- Market access remains a critical challenge; J&K's strengths in agriculture, handicrafts, and tech require organized efforts to expand local, national, and international sales.
- Follow-on capital and investor engagement are priorities, with planned summits, angel networks, and standardized due diligence to boost Series A readiness.
- Geographic disparities persist, but initiatives like expanded university incubators and targeted student challenges aim to level access and foster equitable growth.
Shiprocket trims IPO size; Cresa’s creative fix for sanitary pad disposal
Source: Your Story
·
- India's deeptech sector sees funding surge, with Mitti Labs securing $9.5M and Solinas Integrity raising $5.5M. Piper Serica's Bharat Tech Fund raises Rs 300 crore.
- Mumbai (15th) and Hyderabad (27th) rank high globally for data centre capacity, with top five dominated by North American hubs.
- Swiggy targets Rs 10,000 crore adjusted EBITDA by FY31, driven by food delivery and quick commerce growth.
- Cresa launches biodegradable sanitary pads dissolving in 80 seconds, addressing waste and menstrual stigma.
TikTok lays off 250 employees, shutters its Nashville office
Source: TechCrunch
·
- TikTok lays off 250 employees, closes Nashville office housing content-moderation teams.
- Company cites operational streamlining and long-term growth focus, reiterating commitment to user safety.
- Shift to AI-driven content moderation intensifies as platforms combat violent/explicit content.
- Nashville office closes October 5, leased in 2024; news first reported by *The New York Times*.
EasyJet agrees to £5.7bn takeover by US firm
Source: BBC News – World
·
- EasyJet agrees to £5.7bn takeover by Apollo after rival bidder Castlelake withdraws.
- Apollo pledges no job cuts for 12 months, aiming to grow EasyJet’s operations and maintain service.
- Haji-Ioannou family retains 15% stake; deal requires EU regulatory approval to ensure majority EU ownership.
- Potential job cuts in public-listed roles if EasyJet delists, raising concerns over market impact.
Paramount concessions lead UK to approve takeover of Warner Bros
Source: The Guardian – World
·
- UK culture secretary Lisa Nandy approves £85bn Paramount-Warner Bros merger, creating a global media giant with conditions to protect UK content.
- Deal ensures Channel 5 operates as a public broadcaster until 2034, retaining editorial independence and UK-focused programming.
- Legal challenges persist, including a US antitrust lawsuit and concerns over news coverage bias, with a trial scheduled for March 2027.
- Paramount faces shareholder payouts and must address criticisms of political influence, despite Ellison’s denial of pro-Trump ties.
Merchant charges for UPI soon? LS passes Bill allowing banks to levy fees
Source: Times of India – World
·
- Smriti Jain is a 16-year veteran business journalist specializing in Indian & global economies, infrastructure, stock markets, and Indian Railways.
- She hosts TOI's financial shows and has worked at Economic Times Digital and Financial Express Digital.
- Graduated in Economics from Delhi University, focusing on personal finance and economic analysis.
- Article includes tools for loan installments, SIP returns, PPF/FD maturity, NPS pension, and mutual fund calculations.
Why $370bn tech group Palantir pays 1.4 percent tax rate: Report
Source: Al Jazeera – News
·
- Palantir avoids US federal tax via structural changes, with 1.4% effective tax rate in 2025, leveraging deferred tax assets and Trump-era cuts.
- CICTAR reports profit shifting to the US, leaving minimal tax in UK/Europe, despite £900m UK government contracts.
- Palantir’s tech aids ICE and Israeli military with data merging, raising privacy and surveillance concerns amid ICE-linked deaths.
- Company has strategic ties to Israel, including 2024 defense contracts and recruitment of ex-military cyber experts, despite ethical criticisms.
Octopus Energy denies it is anti-union as workers push for recognition
Source: The Guardian – World
·
- GMB union seeks voluntary recognition at Octopus Energy, citing its ethical status and staff demand for union involvement.
- Octopus Energy denies needing union recognition, stating staff have no current demand and it remains an "outstanding employer."
- GMB argues staff want unionization despite share ownership, emphasizing bargaining rights are vital for fair terms.
- Climate groups stress unions are essential for a just energy transition, countering Octopus’ stance on heat pumps and EVs.
Will Jetstar’s plan to charge for overhead locker space work in Asia-Pacific?
Source: South China Morning Post – World
·
- Jetstar plans to charge for overhead locker space, deemed an "extreme" unbundling tactic, risking backlash and fare complexity in Asia-Pacific.
- Rising costs and competition push airlines to seek revenue beyond ticket prices, potentially enabling rivals to adopt similar fees.
- From February 2024, passengers get one underseat bag free, while overhead storage costs A$25–A$52, shifting to size-based baggage models.
- Jetstar claims the change will streamline boarding, optimize space, and improve on-time departures.
Startup news and updates: daily roundup (August 6, 2026)
Source: Your Story
·
- Gurugram-based ecommerce platform reduced IPO size by 31% to Rs 1,618 crore ahead of August 12 market debut.
- Cresa makes biodegradable sanitary pads dissolving in 80 seconds, addressing waste and stigma.
- Piper Serica raised Rs 300 crore for Bharat Tech Fund, with 50% from existing investors.
- BlackSoil invested Rs 80 crore in Mintoak, expanding to 20 countries and 50+ banks.
Swiggy targets Rs 10,000 Cr adjusted EBITDA by FY31
Source: Your Story
·
- Swiggy targets Rs 10,000 crore EBITDA by FY31, with GOV tripling to Rs 2.5 lakh crore at 30% CAGR.
- Domestic ownership exceeds 50%, foreign cap raised to 49.5% ahead of AGM.
- Food delivery to grow 2.5-3.5x, Dineout targets 5x topline, Instamart aims Rs 1.5 lakh crore GOV by FY31.
- Swiggy remains debt-free, cash Rs 14,400 crore; EPS to rise from loss to +Rs 30-33 by FY31.
How FLiCKA built trust to become India’s fastest growing beauty brand
Source: Your Story
·
- FLiCKA Cosmetics grew to Rs 100 crore revenue with 2,200 retail points, driven by trust and quality over marketing.
- Founder Mohit Pardasani identified a gap in affordable, high-quality beauty products for Indian consumers.
- Products are formulated for Indian skin and weather, prioritizing efficacy over speed to build loyalty.
- Expansion targets Tier II/III cities, leveraging retail-first trust to reach underserved markets.
Ola Electric opens sales, service network to dealer partners across India
Source: Your Story
·
- Ola Electric opens sales/service network to dealer partners, shifting from company-owned stores to localized dealer-led growth.
- Transition aims to scale EV adoption by leveraging dealers' market expertise as the EV industry matures.
- Dealers gain brand pull, recurring service opportunities, and a full product portfolio, including energy solutions.
- Program targets Diwali 2026 scale, with BVR Subbu joining as Senior Advisor to support execution.
Budget Airline Jetstar to Charge Fees for Using the Overhead Bin
Source: The New York Times – World
·
- Jetstar will charge for carry-on luggage not fitting under seats, first in Australia.
- Passengers can take 10kg on board from next February, with small bags free.
- Larger bags cost 25 AUD one-way, allowing earlier boarding.
- Changes aim to streamline boarding, ensure on-time departures, and optimize overhead space.
Air India's new CEO faces financial and safety turbulence
Source: BBC News – World
·
- **Air India appoints Tewolde Gebremariam as CEO**, replacing Campbell Wilson, citing his leadership and expertise to address financial losses and operational challenges.
- **Gebremariam faces critical hurdles**, including the aftermath of last year’s fatal crash, a $2.3bn loss, and reduced international operations under Tata Group ownership.
- **Experts highlight his past success**, steering Ethiopian Airlines through crises like the 2019 Boeing 737 Max crash and pandemic, as he aims to rebuild Air India’s culture and network.
- **Air India’s recovery is expected to take years**, with priorities on fleet expansion, safety reforms, and balancing India’s economic potential amid global aviation pressures.
Quick commerce startup Homerun raises $12M in Series A+
Source: Your Story
·
- HomeRun raised $12M in Series A+ funding led by Nexus Venture Partners, expanding supply chain, tech, and geography.
- Platform delivers construction materials within 60 minutes, targeting 100k+ orders, with 8x growth in a year.
- Founder Pukhraj Grewal aims to solve supply inefficiencies, competing with Fixxly, IBO, and Material Depot.
- Investors highlight formalizing supply chains and strong unit economics without credit.
Musk, Money and Mars
Source: The New York Times – World
·
- SpaceX shares fell ~50% post-IPO, with recent drops after Musk’s bold claims about AI data centers and $1T revenue by 2030.
- The company is unprofitable, relying on rocket launches and Starlink, but its valuation defies traditional financial metrics.
- SpaceX operates as a celebrity-led business, driven by Musk’s vision rather than conventional profit models.
- Analysts debate whether SpaceX’s hype or real business arms justify its high valuation amid market volatility.
Freshworks turns profitable in Q2; Navigating the AI shift
Source: Your Story
·
- EV sector to create 30-40 million jobs by 2030, driven by policy reforms and rising demand for engineering talent.
- River Mobility raises $120M in Series C funding, aiming to expand stores to 350 by 2028.
- Facial analysis platforms rise due to 'looksmaxxing' trend, sparking concerns over biased beauty scoring.
- Freshworks achieves profitability in Q2 2026 with $3.2M net profit and 16% revenue growth.
Nikita Bier steps down as X’s head of product
Source: TechCrunch
·
- Nikita Bier steps down as X's head of product after over a year, citing need to "take a breather" and transition to advisory role.
- Oversaw 30 product launches but faced scandals, including Grok's controversial behavior and legal issues.
- Grok, X's chatbot, generated nonconsensual content, leading to legal troubles and platform scrutiny.
- Bier will continue advising X while stepping back from product leadership role.
Klaviyo acquires Elias Torres’ Agency in full-circle reunion for tech founders
Source: TechCrunch
·
- Klaviyo acquires AI startup Agency, valued at $32M, to enhance its AI agents for marketing and customer support. Terms undisclosed.
- Elias Torres, Agency founder, joins Klaviyo as CPO, leading 25 employees to expand Composer and Customer Agent tools.
- Torres and Klaviyo co-founder Bialecki reunite after past exits; Torres previously co-founded Drift and Performable.
- Klaviyo’s AI agents leverage customer data to compete with rivals, aiming to scale to 200,000+ businesses via AI-driven tools.
Hong Kong urged to be ‘super partner’ in businesses’ overseas expansion push
Source: South China Morning Post – World
·
- **Hong Kong should invest and operate abroad, positioning itself as a "super partner" to aid enterprises expanding into Asean, Middle East, Central Asia, and Europe.**
- **Chamber proposed 65 recommendations, including annual reviews of the five-year plan and aligning Hong Kong’s development with national strategies.**
- **Annual reviews of the five-year plan were suggested to adjust progress, accelerate development, or correct deviations.**
- **Hong Kong’s strengths in infrastructure, capital, and connectivity were highlighted to enhance its role as a global business hub.**
Air India names Tewolde Gebremariam CEO and managing director
Source: Times of India – World
·
- Journalist at The Times of India with 2+ years' experience, specializing in foreign affairs and international politics, known for precise language and clever headlines.
- Financial calculators estimate loan installments, SIP returns, PPF/FD maturity, NPS pension, and mutual fund future value.
- Tools help users calculate investment returns, interest, and corpus for various financial instruments.
- Article combines journalist profile and financial planning tools for investment and loan estimation.
EV startup River Mobility raises $120M in Series C co-led by Elev8 Venture and Claypond Capital
Source: Your Story
·
- River Mobility raised $120M in Series C funding, co-led by Elev8 Venture Partners and Claypond Capital, with participation from Yamaha, HDFC AMC, and others.
- Funds will expand manufacturing, launch new products, and improve margins, targeting EBITDA profitability.
- Founded in 2021, River Mobility sells 5,000 units monthly, aiming to grow stores to 350 by 2028.
- Investors highlight India’s EV growth potential, praising River’s product differentiation and execution.
Google emerges as India's most attractive employer brand, followed by Tata Group, Amazon: Report
Source: Your Story
·
- Google tops India's employer brands, followed by Tata Group and Amazon. Other top brands include Samsung, Infosys, Reliance, ITC, HUL, Mahindra, and Dell.
- 46% of Indian talent plan to switch jobs in six months, with 32% having done so in the past six months.
- Core EVP drivers include work-life balance, career growth, salary, and reputation.
- Employers must adapt to talent demands, with digital talent prioritizing salary over work-life balance.
How Muthu Murugappan is building EID Parry's next growth engine with jaggery
Source: Your Story
·
- EID Parry is expanding into packaged jaggery, leveraging automation and sustainable practices to standardize production and improve quality.
- The company’s circular economy model reuses by-products, reducing waste and lowering the carbon footprint across its operations.
- AI and digital tools enhance farmer productivity, focusing on climate resilience and optimizing agricultural practices.
- Jaggery’s growth potential is driven by health trends, with EID Parry aiming to scale the category through collaboration, not competition.
Startup news and updates: Daily roundup (August 5, 2026)
Source: Your Story
·
- **Freshworks** returns to profitability in Q2 2026 with $237.4M revenue (+16% YoY) and $3.2M net profit, driven by AI demand.
- **InRisk Labs** raises $27M Series A to expand AI-driven underwriting, climate risk coverage, and reinsurance products.
- **Hulp** secures $2.6M seed funding to scale AI workflows, strengthen teams, and expand to six Indian cities.
- **Vingo** raises Rs 10 crore to boost re-commerce platform, focusing on trust, user behavior, and market expansion.
Amid slowing hotpot growth in China, Haidilao takes on biggest American burger brands
Source: South China Morning Post – World
·
- Haidilao diversifies into burgers and sushi amid competitive domestic market, facing rivals like Shake Shack and local chains.
- Failed Hiburger venture (2024–2025) highlights challenges in burger sub-brands, which lack traction despite support.
- Group operates 20+ sub-brands, including seafood and fast-food chains, with Fresh Burger priced between ¥18.9–41.9.
- Fresh Burger offers fresh grilled burgers, pizza, pasta, coffee, and ice cream, reflecting broader brand expansion.
Freshworks beats revenue estimates, turns profitable in Q2
Source: Your Story
·
- Freshworks achieved GAAP profitability in Q2 2026 with $3.2M net profit, up from a $1.7M loss in 2025, and revenue rose to $237.4M.
- Non-GAAP operating margin hit 23.6%, while ARR customers grew 25% to 1,746 with over $100K annual revenue.
- Freddy AI Copilot now supports 71% of new deals, driving growth and operational efficiency.
- Q3 revenue forecast: $244.5M–$245.5M (14% YoY growth), with full-year 2026 revenue targeting $963.5M–$966.5M.
Video game maker EA bought by Saudi-led group for $55bn
Source: The Guardian – World
·
- EA acquired by Saudi PIF and Kushner’s firm for $55bn, ending its 36-year public status.
- Deal approved by EU, final green light for $55bn buyout.
- Saudi investing in gaming; EA faces stagnant revenue and mobile game competition.
- EA reports lower revenue, cuts jobs but no layoffs announced post-deal.
Hong Kong ship crews stranded in Strait of Hormuz ‘safe and offered counselling’
Source: South China Morning Post – World
·
- Stranded crew face minimal immediate safety risks but suffer mental and physical strain from prolonged isolation.
- Over 1,600 crew members on 80 Hong Kong-owned ships have supplies and video counseling access.
- Vessels remain in the Strait of Hormuz’s northern area, avoiding Iran to mitigate risks.
- Crews are primarily from mainland China, Philippines, India, and Eastern Europe, with no Hongkongers onboard.
MapmyIndia profit rises 8.6% to Rs 49.7 Cr in June quarter
Source: Your Story
·
- MapmyIndia reported 8.6% profit rise to Rs 49.7 crore, with 14.9% revenue growth to Rs 139.7 crore in Q1 2026.
- Chairman highlighted AI-driven growth, expanding into geospatial and IoT solutions for automotive, enterprise, and government sectors.
- Rohan Verma appointed as Joint Managing Director, effective July 1, 2026, pending shareholder approval.
- Company aims to become India’s leading AI-powered deep-tech digital mapping and location-based solutions provider.
Apple India FY26 revenue grows 20% to near Rs 1 lakh Cr
Source: Your Story
·
- Apple's India revenue rose 20% in FY26 to ~Rs 1 lakh crore, driven by 24% iPhone shipment growth to 14 million units.
- iPhone dominates Apple's Indian revenue, with expanded retail, local manufacturing, and financing boosting adoption.
- India is a key growth market, fueled by premium device upgrades and broader ecosystem adoption.
- Supply constraints and rising iPhone prices may test growth, but demand is expected to offset cost increases.
Cathay Pacific posts 71% profit rise to HK$6.24 billion in first half of year
Source: South China Morning Post – World
·
- Cathay Pacific's net profit surged 71% YoY to HK$6.24B, driven by strong passenger and cargo demand in H1 2026.
- Fuel prices rose due to Middle East tensions, posing ongoing risks to profitability.
- Airfares were supported by increased transit passengers amid Middle East conflict.
- A one-off HK$1B gain from dilution of Air China equity boosted net profit.
Nykaa net profit soars over 3X; VC funding remains modest
Source: Your Story
·
- **Profound** launches AI Rep, an AI assistant for professionals to manage career opportunities and connections, co-founded by ex-Swiggy/Zomato leaders.
- **Nazara Technologies** reports Rs 82.47 crore Q1 loss; CEO Nitish Mittersain resigns but stays as MD for strategy.
- Government meets Meta to address child sexual abuse material and account management concerns.
- Amazon invests $21 billion in India’s cloud infrastructure, prioritizing sustainable data center operations.
Home décor and furnishings marketplace Vaaree raises Rs 65 Cr in Series A funding
Source: Your Story
·
- Vaaree raised Rs 65 crore in Series A funding led by Hero Enterprise and Cap Alpha Ventures, with existing backers supporting expansion.
- Funds will boost fulfillment, delivery speed, and AI platform VibeCheck for personalized home styling and product discovery.
- Founded in 2022, Vaaree offers curated home décor with over 1.5 lakh products, focusing on quality and design standards.
- The funding reflects investor interest in India’s home commerce sector, driven by AI tools and rising digital demand.
Nykaa net profit soars over 3X, revenue up 29% in Q1
Source: Your Story
·
- Nykaa's Q1 FY27 net profit surged 3x to Rs 79.76 crore, revenue up 29% to Rs 2,782 crore, driven by strong demand and improved EBITDA margins.
- Beauty segment revenue grew 27.3% YoY (90% of total revenue), while fashion segment saw 48% growth despite EBITDA losses.
- Nykaa acquires 51% of Aminu (Rs 32 crore) to expand dermocosmetic offerings, with plans to buy remaining stake later.
- AI initiatives like Virtual Closet boosted conversions, and AskNykaa became a trusted beauty advisor, aligning with innovation-driven growth.
Jardines ending Oxbridge undergrad scholarships to ‘maximise impact’ for more students
Source: South China Morning Post – World
·
- Jardine Matheson boosts focus on Asia, ending a 44-year scholarship program for Oxbridge undergraduates.
- Final cohort of students under the program will start studies later this year.
- Decision aims to maximize impact by aligning with regional priorities and reviewing effectiveness.
- Foundation emphasizes community-focused initiatives where its businesses operate.
Why Trump Media's sale of fast access to market-moving social posts is controversial
Source: BBC News – World
·
- **TMTG offers paid service (Truth API)** for Wall Street firms to access real-time posts from influential Truth Social accounts, including Trump’s.
- **Legal concerns** arise over profiting from public statements, with critics warning of insider trading risks via "tipper-tippee" liability.
- **Democrats criticize** the service, urging SEC investigation, while TMTG defends it as a legitimate data service.
- **Target audience** includes high-frequency traders needing ultra-fast access, not retail investors, due to complex infrastructure requirements.
Startup news and updates: daily roundup (August 4, 2026)
Source: Your Story
·
- **Profound** raised $1.5M seed funding from Swiggy, Zomato, and venture firms to expand AI capabilities and product teams.
- **Nazara Technologies** reported a Rs 82.47 crore net loss in Q1 FY27, driven by impairment and deconsolidation of NODWIN Gaming.
- **Kily** secured Rs 30 crore investment, while **NYAI** raised $1.5M to build AI-driven compliance tools for enterprises.
- **Dabur** partners with Accenture to integrate AI and data analytics, while **Superleap** raises Rs 36 crore for AI-native CRM expansion.
Nazara Tech slips into Rs 82.5 Cr loss in Q1; Nitish Mittersain steps down as CEO
Source: Your Story
·
- **Nazara reported a Q1 FY27 net loss of Rs 82.47 crore, driven by associate losses and impairment, amid 14% revenue decline due to NODWIN deconsolidation.**
- **Nitish Mittersain resigns as CEO; Raymond Stauffer, ex-Google gaming exec, appointed, with board changes including Conlon’s addition and Gupta’s resignation.**
- **Nazara acquires 100% of Bluetile & BestPlay for $303.02M, boosting revenue to Rs 518 crore, and invests in subsidiaries for expansion.**
- **Board plans to raise funds via equity or securities by August 6, following strategic moves to secure ownership and growth.**
Bringing India’s forgotten games back to life; MobiKwik posts Rs 7.6 Cr net profit
Source: Your Story
·
- Google selects 20 AI startups for a 3-month equity-free accelerator, supporting sectors like healthcare, fintech, and gaming with mentorship and technical aid.
- Ather Energy cuts net loss by 71% to ₹51 crore, driven by 87.2% YoY income growth from non-vehicle revenue streams.
- IdeaForge secures ₹151 crore debt financing under India’s RDI scheme to develop a heavy-lift drone for extreme environments.
- Alibaba unveils Qwen3.8-Max, its largest AI model with 2.4 trillion parameters, amid China’s race to build powerful open-weight AI models.
MakeMyTrip’s Q1 beats travel headwinds
Source: Your Story
·
- MakeMyTrip reported 19.9% YoY growth in gross bookings ($2.9B) and 16.1% revenue rise ($285.6M) in Q1 FY27, despite macroeconomic challenges and geopolitical headwinds.
- Key segments grew: hotels/packages (21.3%), bus ticketing (32.4%), outperforming air ticketing (10.8%), reflecting diversified strength.
- AI assistant Myra 2.0 handles 85k daily conversations, resolving 50% of post-booking queries, with 45% traffic from Tier II/III cities.
- CEO Rajesh Magow remains optimistic about India’s travel market, citing infrastructure growth and rising domestic travel trends.
WestJet Strike Ends After Canadian Airline Reaches Deal With Flight Attendants
Source: The New York Times – World
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- WestJet reached a tentative agreement with 4,400 flight attendants after a daylong strike, ending flight cancellations and resuming operations.
- The deal addresses wage increases and compensation for unpaid ground duties, pending union ratification.
- 645 flights were canceled during the strike, impacting domestic and international routes, with passengers offered refunds or rebooking.
- The strike marks the second major disruption to Canadian air travel this year, following similar disputes with Air Canada.
EV maker Ather Energy Q1 losses narrow by 71% to Rs 51 Cr
Source: Your Story
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- Ather Energy’s net loss narrowed 71% to Rs 51 crore, total income rose 87.2% YoY due to non-vehicle revenue growth.
- EBITDA turned positive at Rs 9 crore, up from a Rs 106 crore loss a year ago.
- New factory to start Q3 FY27, boosting annual capacity to 1.42 million electric two-wheelers.
- EV demand surged 68% YoY, with industry registrations hitting 525,000 units and penetration crossing 10%.
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