Shares of KPIT Technologies Ltd $KPITTECH.NS, a Pune-based provider of embedded software solutions for the automotive sector, fell sharply on Monday, dropping 5.11% to an intraday low of ₹1,319.70 on the Bombay Stock Exchange $^BSESN. A similar decline of 5.10% was registered on the National Stock Exchange (NSE), marking one of the steepest single-day losses for the stock in recent months. The sharp correction came despite a buoyant broader market, reflecting investor reaction to the company’s cautious commentary in its Q1 performance update for FY25. KPIT’s report pointed to persistent macroeconomic headwinds and shifting global dynamics that could influence customer spending patterns and delay deal conversions.
Tesla Inc. $TSLA announced plans to invest approximately $8 billion in U.S.-based infrastructure and production during the current fiscal year. The update, released Friday evening on social media platform X, reinforces the company’s long-standing strategy to localize capital expenditure and deepen its industrial footprint across the United States. The electric vehicle (EV) maker stated that since its inception, it has deployed roughly $44 billion in U.S. capital investments, including $10 billion in the last fiscal year alone. The upcoming $8 billion allocation is poised to support new manufacturing lines, facility expansions, and technology upgrades.
Microsoft Corp. $MSFT is set to announce another round of job reductions in early July, targeting sales, marketing, and customer service teams. The move follows the May 2025 layoffs that affected roughly 6,000 technical employees, including software developers and engineers. This time, the cuts will affect frontline commercial operations as the company redirects spending toward AI infrastructure. In April, Microsoft confirmed plans to outsource parts of its SMB software sales to external partners—an early sign of the broader restructuring now underway.
The Trump Organization, helmed by Donald Trump Jr. and Eric Trump, is expanding its commercial portfolio with the launch of a branded smartphone. The device, known as the T1, will be marketed as a “sleek, gold smartphone” and is priced at $499 USD. According to the announcement, it will be “proudly designed and built in the United States”, a positioning that reflects both political symbolism and a strategic attempt to differentiate it from market-dominating devices like Apple’s iPhone 16 Pro Max $AAPL, which retails for $1,199 USD and is primarily manufactured in China.
U.S. equity markets posted their first weekly loss in three weeks amid rising geopolitical risk in the Middle East. The S&P 500 Index $^SPX fell 1.1% on Friday, marking its steepest single-day drop since May 21. The Nasdaq 100 $^NDX retreated 1.3%, driven by broad weakness in megacap technology stocks.
Two of the flagship entities under Anil Ambani’s Reliance Group, Reliance Infrastructure Ltd. $RELINFRA.NS and Reliance Power Ltd. $RPOWER.NS, have recorded dramatic rallies in June, rising over 22% each. The gains extend a broader upward trend: Reliance Power surged 173%, while Reliance Infrastructure appreciated 141% over the past year. The sharp recovery marks a critical inflection point in the market’s reassessment of Anil Ambani’s once-distressed corporate empire.
Wise Plc's shift to list primarily in the United States has issued a stark challenge to Britain's efforts in attracting fintech IPOs. This decision, amid rising competition from global markets, puts the focus on the UK's ability to retain thriving financial technology firms.
Shares of Brown-Forman Corp. $BF-B, the parent company of Jack Daniel’s, experienced a substantial drop, plummeting as much as 18% in a single trading day. This marked the steepest intra-day decline since 2008, further intensifying the year-to-date depreciation to 13%. This stark plunge followed the company's announcement of quarterly results that fell short of market expectations, paired with a conservative sales outlook for the current fiscal year.
Walt Disney Co. $DIS has initiated extensive layoffs within its film and television operations, signaling persistent turbulence across the broader entertainment sector. Several hundred roles have been eliminated, with reductions commencing on Monday and impacting professionals across marketing, advertising, recruitment, development, and corporate finance. The restructuring move reflects Disney’s response to evolving industry headwinds and relentless cost-pressures.
Wells Fargo & Co. $WFC continues its realignment towards core banking operations, divesting its rail equipment leasing division to a newly created joint venture between Brookfield Infrastructure Partners $BIP and GATX Corp. $GATX. This transaction marks another phase in the bank’s ongoing reorganization focused on credit provision and advisory services.
The perpetual bonds of New World Development Co. $0017.HK experienced a significant price decline, reaching the lowest point in three months. This downturn was driven by rising doubts among investors over whether the company will proceed with its June coupon payment. The 6.15% USD perpetual note plunged by over four cents, settling at 54.8 cents on the dollar by 16:23 HKT—a level last seen in February. Other dollar-denominated bonds from the developer also slid, shedding around two cents each as market risk aversion increased.
The National Stock Exchange of India Ltd. (NSE), recognized globally as the largest derivatives platform by trade volume, is moving to resolve a long-standing standoff with the Securities and Exchange Board of India (SEBI). The offer, estimated at nearly INR 10 billion (approximately USD 118 million), addresses allegations that have cast a shadow over the exchange since 2015. At the core of the dispute were claims that select high-frequency traders received inequitable server access via NSE's co-location facilities, raising critical concerns over market fairness and transparency. These events triggered regulatory investigations and, in 2016, brought NSE’s IPO ambitions to a halt. The exchange later faced a six-month bar from market access, intensifying scrutiny of governance and systems integrity.
