XBOX SUBSIDIARIES JOINT VENTURES
YouTube earns more from Xbox games than Microsoft: CEO Satya Nadella
Microsoft CEO Satya Nadella said that YouTube generates more revenue from Xbox games than Microsoft itself, highlighting a struggle to monetise its gaming division despite significant investment. This comes as Bloomberg reported last week that Xbox is planning major layoffs next month, along with significant reductions to marketing and other budgets.
'Shared ambition of reliable, open, safe AI': Macron at Bharat Innovates seeks ethical use of AI
French President Emmanuel Macron urged against AI monopolisation and called for international cooperation, emphasising India and France's shared commitment to ethical and responsible AI development. The leaders jointly inaugurated 'Bharat Innovates 2026' in Nice, showcasing deep-tech startups and fostering collaboration in innovation and technology for global good.
Tata Play loss widens to Rs 551 crore in FY26 as customers migrate to streaming, DD Free Dish
Tata Play faced a wider net loss and lower revenue in the 2025-26 financial year. Customers are moving away from DTH services to free platforms and streaming services. This trend has impacted Tata Play's subscriber base and market share. A dispute with Sony Pictures Networks India also contributed to the company's challenges. Average revenue per user saw a slight increase.
LIC targets stronger market leadership as it approaches its platinum jubilee
LIC CEO R Doraiswamy stated the corporation will maintain its leadership in the life insurance sector and contribute to national development as it approaches its platinum jubilee. With a nearly 60% market share and substantial assets, LIC's growth is intertwined with India's economic progress, aiming to support the nation's 'Viksit Bharat' vision.
PM Modi arrives in France for G7 summit, receives warm welcome
Prime Minister Narendra Modi arrived in Nice, France. He was welcomed by the Indian diaspora with cultural performances. Traditional Indian dances like Kathak, Odissi, and Bharatanatyam were showcased. The Prime Minister expressed his appreciation for the diaspora's strong connection to India. This visit aims to strengthen India's partnerships with France.
Delhi Police mandates joint foot patrols on weekends, two weekdays
The circular, issued by Commissioner of Police Sanjay Arora to senior officers across district and traffic units, aims to enhance public safety, increase police visibility and ensure better traffic regulation across the national capital.
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A famous 10-foot CIA sculpture just changed hands, and the crypto firm that bought its last secret says it hasn't peeked, because the mystery of Kryptos is still the point
After three decades, the final unsolved secret of the CIA's Kryptos sculpture, K4, has been sold for nearly $1 million. Crypto venture capital firm Paradigm now holds the solution and will charge $1 per submission to encourage public attempts at cracking the code, with a K5 mystery still to come.
JSW Energy acquires MCCPL to strengthen thermal portfolio
JSW Energy is acquiring Maruti Clean Coal & Power Limited for Rs 1,410 crore. This move supports JSW Energy's goal of reaching 30GW capacity by 2030. The acquired company operates a 300 MW thermal plant in Chhattisgarh. This acquisition strengthens JSW Energy's thermal portfolio and cash flows. It also enhances regional thermal power operations.
Microsoft has considered spinning off Xbox: Report
Microsoft is exploring significant changes for its Xbox gaming division. Options include a potential spinoff or restructuring as a wholly owned subsidiary. The company is also considering joint ventures. These moves aim to make the gaming business more attractive for potential sale. New leadership plans increased spending on top game franchises. Major layoffs and budget cuts are also anticipated.
VCs turn the screws; Ex-Paisabazaar CEO’s new bet
Happy Friday! Investors are rewriting the rules of engagement with founders after governance blowups. This and more in today’s ETtech Morning Dispatch.
Fable 5's cost challenge; Opendoor's India exit
Anthropic's Fable 5 could rewrite how IT works, but the price tag and performance quirks raise hard questions. This and more in today’s ETtech Top 5.
Microsoft's Xbox plans for major layoffs next month: Report
The job cuts would mark the first major restructuring under Asha Sharma, who took charge as CEO of the gaming unit in February.
Musk's xAI accused of illegally firing engineer who raised safety concerns
Devin Kim, a former engineer at xAI, has launched a lawsuit alleging wrongful termination after he voiced serious concerns about the safety risks associated with the AI chatbot Grok. Kim contends that his proactive warnings put him in the crosshairs of the company, leading to his dismissal.
Tata Consumer Products to add 50-100 Starbucks outlets annually; sees potential for 8,000 units
Tata Starbucks aims for massive expansion in India, with plans to reach 8,000 stores. The coffee chain is now profitable at the operating level. This growth is driven by increasing cafe culture and a growing young population. The company is adding 50 to 100 new outlets annually, strengthening its presence across cities.
Meta partners with Reliance to lease 168 MW AI data centre in Jamnagar
Meta has deepened its India bet by partnering with Reliance Industries to build its first AI-ready data centre in the country, leasing 168 MW of capacity at Reliance's upcoming hyperscale campus in Jamnagar, Gujarat. The deal marks a significant milestone in the long-standing Meta-Reliance relationship and highlights India's emergence as a major hub for AI data centres. Roughly $270 billion cumulative investment has been committed by global hyperscalers and Indian conglomerates in data centres.
Dixon Tech shares rise as subsidiary enters JV to manufacture optical telecom products
Dixon Technologies' shares rose after its subsidiary, Dixon Electroconnect, partnered with Gemtek Technology to form a joint venture. This new entity will manufacture and supply optical transceivers and other telecom products in India. Dixon will hold a 60% stake in the venture, aiming to leverage manufacturing prowess with Gemtek's optical module expertise for high-speed networks and data centres.
Stocks in news: Emcure Pharma, Dixon Technologies, Ajanta Pharma, Godrej Properties, Vedanta
Indian markets experienced a volatile session, closing higher amidst mixed signals. Bulls are defending the 23,000 level in Nifty, but uncertainty persists due to mixed heavyweight stock trends. Investors are advised to focus on stock-specific opportunities as analysts maintain a cautious outlook.
BP names heads for two main businesses after revamp
BP is reorganising its business into two core units, upstream and downstream. Gordon Birrell will lead the upstream operations, while Richard Harding takes charge of downstream on an interim basis. This strategic shift aims to simplify operations and refocus on oil and gas. Renewable energy investments will be scaled back.
Hands-on with Intel's Arc G3 handheld at Computex: It might finally give AMD some competition
Intel is set to challenge AMD's hold on handheld gaming. New Arc G-Series processors, seen on the MSI Claw 8 EX AI+, offer better graphics and efficiency. Early impressions suggest smoother gameplay than current AMD-powered devices. This development could significantly shift the handheld gaming landscape. Availability in India and pricing remain key factors for its success.
JSW Steel crude steel production rises 15% to 22.93 LT
JSW Steel reported a significant 15 percent jump in crude steel production for May. The company produced 22.93 lakh tonnes, a notable increase from the previous year. This growth was fueled by the full operational capacity of the Dolvi unit and the ramp-up of JVML operations. JSW Steel USA-Ohio also saw a 20 percent rise in its output.
Ex-Mirae Asset India head Ashish Dave launches Rs 700-1,000-crore fund
Ashish Dave, formerly of Mirae Asset Venture Investments, is launching Sanskrit Capital. The new fund aims for Rs 700-1,000 crore. It will invest in Series B and C startups. This move is part of a trend of seasoned investors starting independent funds. Sanskrit Capital will focus on fintech, consumer internet, logistics, healthcare, and enterprise AI.
US lawmakers urge tighter rules on contract chipmakers supplying Chinese firms' overseas units
This comes after the Trump administration last week moved to halt a potential loophole that may have led companies to export advanced chips such as those made by Nvidia to subsidiaries of Chinese companies located outside China. That potential loophole arose last year when the Trump administration announced it would not enforce rules put in place by the previous Biden administration governing global access to US chips.
Smartworks leases 400 seats to Japanese NBFC subsidiary in Mumbai
Managed office provider Smartworks Coworking Spaces has secured a significant deal in Mumbai. A Japanese non-banking financial company's Indian arm has leased over 400 seats for five years. This agreement is expected to bring in approximately Rs 35 crore in rental revenue. The transaction highlights the ongoing demand for flexible office solutions from financial services firms.
GPS Renewables raises Rs 635 crore in Series C funding
Bengaluru-based GPS Renewables has secured ₹635 crore in Series C funding to expand its compressed biogas (CBG) infrastructure. The investment, led by PixelSky Capital and including a Korean conglomerate, will accelerate the development of large-scale CBG projects across India and bolster its asset platform, Arya.
'Making in Russia for India' eyes fertilisers, critical mineral mining JVs
India's envoy to Moscow, Vinay Kumar, has proposed a 'Making in Russia for India' model. This initiative aims to boost industrial ties across sectors like fertilisers and critical minerals. Joint ventures in Russia will create a captive export market for India. The countries are also working towards a $100 billion trade target.
‘Godzilla: Destroy All Monsters Melee’ remastered launches November 3 as Atari revives beloved kaiju fighting classic
Godzilla: Destroy All Monsters Melee Remastered is officially announced by Atari, set for a November 3, 2026 release. This high-fidelity recreation, rebuilt in Unreal Engine 5, will feature enhanced graphics, improved gameplay, online and local multiplayer, and 12 playable monsters. The game retains its signature arena-based combat with destructible environments.
Uzbekistan can provide more incentives to Indian pharma firms, aims to become regional hub for supply
Uzbekistan is inviting Indian drug companies to invest more. They are offering better subsidies and technology help. This aims to make Uzbekistan a key hub for making and supplying medicines in the region. Simplified rules and tax benefits will encourage more investment. This move will boost local healthcare and strengthen trade ties between the two nations.
Indian companies pitch products, seek partnerships at mega tech trade event in Taiwan
While the event witnessed significant participation from Indian buyers, a handful of Indian companies also exhibited at COMPUTEX 2026, which featured a record 6,000 booths from 1,500 exhibitors representing 33 countries.
TVS Supply Chain forms JV with Italy's ALA Group to foray into aerospace and defence segment
TVS Supply Chain Solutions is entering the aerospace and defence sector through a joint venture with Italy's ALA Group. This collaboration aims to provide integrated supply chain solutions for components, kitting, and logistics. The partnership is projected to generate over Rs 2,000 crore in revenue by 2031.
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