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Elon Musk leaves White House, Microsoft CEO Satya Nadella explains why company laid of 6,000 employees, launches from iQoo and Alcatel, and other top news of the week

Elon Musk leaves White House, Microsoft CEO Satya Nadella explains why company laid of 6,000 employees, launches from iQoo and Alcatel, and other top news of the week

Time of India3 days ago

Elon Musk confirmed his departure from the White House, signalling a renewed focus on his ventures like Tesla and SpaceX. Meanwhile, Microsoft CEO Satya Nadella addressed the recent layoff of 6,000 employees, clarifying the cuts were due to "reorganisation" rather than performance issues. On the product front, the Indian smartphone witnessed the launch of the gaming-centric iQoo Neo 10, and Alcatel's V3 series. Adding to the retail landscape, Google has finally begun selling its full Pixel lineup directly through its online store in India. All this and other tech news of the week.
Elon Musk leaves White House but will remain in advisory role
Elon Musk has left the White House to take care of his companies, including Tesla and SpaceX. Musk expressed gratitude to Trump for the opportunity to lead DOGE, saying, "As my scheduled time as a Special Government Employee comes to an end, I would like to thank President Donald Trump for the opportunity to reduce wasteful spending. The DOGE mission will only strengthen over time as it becomes a way of life throughout the government." Trump also praised Musk saying that the Tesla CEO was "terrific".
Read full story here.
CEO Satya Nadella on why Microsoft laid off 6000 employees
Microsoft CEO Satya Nadella addressed recent job cuts during the company's latest Town Hall event with its employees, reportedly revealing that the latest round of job cuts was due to 'reorganisation rather than performance,'. This clarification came weeks after it announced plans to lay off 6,000 employees, which is roughly 3% of its workforce.
Here's the full story.
iQoo Neo 10 launched in India
iQoo Neo 10 was launched in India this week. It is a mid-range smartphone with a focus on gaming performance and battery life. The device is powered by a Qualcomm Snapdragon 8s Gen 4 chipset and has a 7000mAh battery. It is available in multiple RAM and storage configurations, starting at Rs 31,999 for the 8GB + 128GB variant.
More details here.
Alcatel launches its smartphone in India
Alcatel has launched its smartphones in India. Through a partnership with Nxtcell India, the company launched the V3 series -- including the V3 Classic, V3 Pro, and V3 Ultra -- featuring MediaTek Dimensity 6300 processors and Android 15. The V3 series also showcases Alcatel's patented NXTPAPER display technology. The phones are available on Flipkart starting June 2, 2025.
Click here for prices and more specs.
Walmart job cuts and new hiring plans
Walmart will reportedly introduce 'several hundred new roles' in the US and India -- days after the company announced to let go of approximately 1,500 employees from its technology department, e-commerce fulfillment centres and the advertising segment named Walmart Connect. Employees who were laid off are eligible to apply for any of these roles.
More information here.
Google starts selling Pixel phones from its online store
Google has officially launched direct online sales for its complete Pixel lineup through the Google Store in India. This means consumers can purchase these devices directly from Google. Available products include the Pixel 9a, Pixel 9, Pixel 9 Pro, Pixel 9 Pro XL, Pixel 9 Pro Fold, Pixel 8a, Pixel 8 Pro smartphones, along with Pixel Watch 3, Pixel Buds Pro 2, and official accessories.
All details here.
Hisense unveils E7Q Pro QLED Smart TV
Hisense launched its latest Smart TV—the Hisense E7Q Pro in India, designed specifically for modern gamers and those seeking a cinematic home entertainment experience. The
Hisense E7Q Pro QLED Smart TV
is equipped with a high-performance 144Hz refresh rate, Dolby Vision Atmos support, AMD FreeSync Premium certification, and AI Smooth Motion technology. The company claims that the TV can deliver jitter-free visuals and low-latency gaming.
Read more for price and features.
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How is India benefiting from supply chain diversification away from China? Morgan Stanley's Chetan Ahya explains
How is India benefiting from supply chain diversification away from China? Morgan Stanley's Chetan Ahya explains

Economic Times

time18 minutes ago

  • Economic Times

How is India benefiting from supply chain diversification away from China? Morgan Stanley's Chetan Ahya explains

Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads , Chief Asia Economist,says India is gaining advantage due to tariff differences with China. American companies are considering increased imports from India. Government policies are boosting manufacturing and exports. Electronics manufacturing is expanding beyond mobile phones. Infrastructure development will further strengthen India's manufacturing exports. Optimism in Indian equity markets aligns with positive economic fundamentals. The organization maintains a bullish outlook on think that the government capex has been the key anchor of the capex cycle and to the extent to which India has been embarking on this focus on manufacturing capex, the government's focus on infrastructure would be an important anchor to that private capex eventually improving as now, it is still the government capex and we had seen a bump down or a small slowdown period for government capex post general elections last year. But we have seen that in the last three-four months, there has been a meaningful pick up in government capex. In March, we saw that both central and state government capex growing at a very high pace and that has now taken the 12-month trailing centre plus state combined capital expenditure to close to the peaks that we had seen right before the general have seen this strength in government capex coming back again. As far as private capex is concerned, we were expecting that would have picked up a lot more by this time, but to the extent to which we have seen this trade tensions emerge from early this year that is going to affect the capex outlook not only in the region, but also in India, despite the fact that India has lower exposure to global goods reality is that it still has a meaningful exposure of 12% of GDP being its goods exports to GDP. We are expecting private capex to be going through a bit of an adjustment period in the environment of global trade tensions and then, over the next calendar year, that is, in 2026, we should see a pick up in private capex because by that time, the damage out of this global trade tensions would have been behind is benefiting on account of it. Right now, during a period where tariffs on China, even after having come down, are still at a very high run rate of 30% and from the 2018 period, you also have about 11% weighted average tariff on imports from China that the US has imposed. Cumulatively, we still have a 41% tariff rate for import from China for the US and that does give some sectors an advantage over China in terms of pricing and even sort of thinking about a bit more from a medium-term corporate sector in America is beginning to think about importing more from India. India is probably benefiting on account of that. Then, from a medium-term perspective, we have always argued that look, it is not just about taking away market share from China, but just getting rightful market share for India in the global goods exports and for that India's policies that were important and the government has been taking the right policies to boost that manufacturing sector have seen electronics manufacturing getting a leg up. We are going to see that expand into more and more products within the electronic segment apart from mobile phones and laptops. And at the same time, we think that from a medium-term perspective, this whole push towards infrastructure will really strengthen India's manufacturing exports. It is really a lot of the domestic policies that will be important from the long term apart from the short-term benefit that it may get on account of differential tariff rates between India and our regional and India strategists have been very constructive on India. So, we are aligned up as a house on being bullish on India.

Tariff jitters temporary, long-term upside intact for India Inc.: Deepak Shenoy
Tariff jitters temporary, long-term upside intact for India Inc.: Deepak Shenoy

Economic Times

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Tariff jitters temporary, long-term upside intact for India Inc.: Deepak Shenoy

Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads "Overall fund flows seem to be more concentrated towards domestic. There is also a lot more action in terms of results and some of these tariff news and all that stuff which is kind of still creating a lot of uncertainty," says Deepak Shenoy , Founder, Capital Mind We saw about 25,000 crores enter the markets as fresh entries into mutual funds in April and given that May was like a 9% plus month for smallcaps and smallcap funds have been the second largest recipient of funds in April, that will kind of bolster more retail investment into domestic funds even that, overall fund flows seem to be more concentrated towards domestic. There is also a lot more action in terms of results and some of these tariff news and all that stuff which is kind of still creating a lot of have come to the realisation that there is a little bit of back and forth and anybody says something about tariffs that is likely to be changed very quickly in whichever direction and mostly in the direction of removing those tariffs in a short period of I feel that in the end we will come down to 10% tariffs by the US to everybody and by and large some countries may receive a little more but I do not think this is going to be a major impact longer we realise this, it is less of an impact overall. The themes that seem to still be working is manufacturing, is financialization , and is maybe defence as themes that hurt perhaps are commodities because a large amount is based on world-wide demand as well, so that theme seems to be constant. I do not think today is any special day in that sense, but we have to be cognisant that as these tariffs come off and as eventually the wars in the world come to some kind of conclusion, the upside for India is definitely strong and I am biased, I am a fund manager, so we have to be positive but some of the positives are going to get more visible in the next six I will be honest. We run a company in this industry and therefore very-very heavily biased. But I still think this is the tip of the iceberg in terms of how much this industry can scale. I would not talk about who the winners will be and who the losers will be, but India is terribly under-financialized. Less than 18% of our GDP is in mutual funds whereas in America that number is more than 100%. So, to a certain extent there is a lot of room for the Indian organised financial industry to move. We are moving away from the real estate, gold, and chit funds kind of products to save into real financial products or financial products of a more regulated sort which has a lot more potential. You are seeing this happening. 25,000 crores a month net new inflows, most of that coming through SIPs This has not slowed down meaningfully even through the fact that the markets have corrected. We have seen more regulatory action that has fortified, so whether it is an RTA, whether it is an AMC, whether it is an exchange, or whether it is a depository all of them are getting more and more prominent in the overall structural framework of now it is becoming more and more easy to transact in them, to deal with them if a person dies transferring a financial product is way easier than trying to transfer say real estate or anything like a lot of these things add up over time and fortify people's minds into saying okay we will do this. You cannot sell half a house, but you could sell half a mutual therefore, people are actually getting more and more into financial products as such and the financial products themselves are investing in different things. You can buy gold through a mutual fund. You can buy stocks through a mutual fund. You can buy bonds and so on. So that way the industry itself has kind of scaled we are also seeing wealth management players, people who manage the money of relatively richer people even those stocks are kind of increasing in value and they are increasing in terms of growth as well, in terms of real profits. So, from that perspective we are yes, maybe we are overpaying for these stocks today, but a structural approach to buy them over a period of time is perhaps necessary for any growth oriented portfolio.

Ashoka Co-Founder Reacts To Mahmudabad Row: 'Activism, Liberal Arts University Not Joined At The Hip'
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News18

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Ashoka Co-Founder Reacts To Mahmudabad Row: 'Activism, Liberal Arts University Not Joined At The Hip'

Sanjeev Bikhchandani pointed out that while the founders are criticised as "dirty filthy capitalists," they are the ones funding the institution. Sanjeev Bikhchandani, co-founder and trustee of Ashoka University, has expressed concerns over growing 'activism" within the institution, suggesting it has become a 'headache" and hinting at the possibility of distancing himself from the university. His remarks came in an email response to an alumnus's criticism regarding the university's handling of Professor Ali Khan Mahmudabad's arrest. In a candid email shared on an internal mailing list, Bikhchandani emphasised that activism is not an inherent component of a liberal arts education. He stated, 'Activism and a Liberal Arts University are not joined at the hip. Ashoka is a Liberal Arts and Sciences University. Whether to be activists or not is a conscious choice people make." He further noted that his previous attempts to question the extent of activism at Ashoka were met with hostility, suggesting that some individuals have 'captured the institution" and resist any challenge to their views. Bikhchandani also highlighted the financial contributions of the university's founders, pointing out that while they are often criticised as 'dirty filthy capitalists," they are the ones funding the institution. He questioned the assumption that liberal arts education must be synonymous with activism, citing his own experience at a liberal arts and sciences college where activism was minimal, yet students thrived. 'In the past I have questioned the activism at Ashoka—each time, I have been pounced upon by the activists and their supporters, both within and outside Ashoka: students, faculty, activists, etc., saying that 'if you are running a liberal arts university, then activism goes with the territory', that 'I am an arrogant owner', that 'dirty filthy capitalists don't understand how a university runs' (they somehow forget that the same capitalists are paying their salaries)," Bikchandani wrote. Mentioning how he asked Google AI if all liberal arts universities are activist in nature, he wrote, 'The fundamental point I am making is that activism at Ashoka is a choice and it does not go with the territory. You can be a great liberal arts university and not be activist. Anyone who tells you otherwise is a liar." Professor Ali Khan Mahmudabad, head of the Political Science Department at Ashoka University, was arrested on May 18, 2025, by Haryana Police over a social media post related to Operation Sindoor, India's percision strike against terrorist bases in Pakistan and PoK. Mahmudabad had in his social media post praised India's strategic doctrine and the outcome of Operation Sindoor, but criticised 'symbolic optics' and the treatment of minorities. His arrest followed complaints alleging that his post was inflammatory and disrespectful to women in the armed forces. However, colleagues have defended Mahmudabad, asserting that his post supported the Indian government's stance and praised the strategic restraint of the armed forces. The Supreme Court granted Mahmudabad interim bail, extending it until the third week of July. The court has directed the Special Investigation Team (SIT) to limit its probe to the two FIRs filed in relation to Mahmudabad's Facebook post and has restrained him from posting any content online related to the ongoing case.

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