Author: Sreelatha M

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Opendoor exits India, cuts 250 jobs

US-based real estate technology company Opendoor is shutting its India operations, impacting nearly 250 employees as part of a restructuring plan focused on artificial intelligence and operational efficiency.

The company has informed staff that India-based roles will be phased out and moved closer to its main customer base in the United States. Employees affected by the decision will receive severance benefits and transition support.

Opendoor said the move is aimed at simplifying operations and increasing the use of AI tools to automate routine tasks and improve productivity. The company uses technology to streamline home-buying and real estate transactions. The closure reflects changing business priorities and a greater focus on automation.

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Corporate

Anthropic introduces Claude Fable 5 for public use

Artificial intelligence company Anthropic has launched Claude Fable 5, its most advanced AI model available to the public. The model is based on the company’s previously restricted Mythos platform and aims to offer powerful capabilities while maintaining strong safety protections.

Claude Fable 5 is built on the same foundation as Claude Mythos 5, an advanced AI system that was earlier accessible only to a select group of organisations through Anthropic’s Project Glasswing programme. Access to Mythos had been limited due to concerns about its ability to identify software vulnerabilities and perform sophisticated cybersecurity tasks.

According to Anthropic, Fable 5 offers significant improvements in coding, scientific research, reasoning, visual analysis and other knowledge-based tasks. The company says the model delivers stronger performance than previous versions of Claude and can handle more complex and long-duration assignments.

To address safety concerns, Anthropic has introduced several safeguards in Fable 5. The model is designed to restrict responses in sensitive areas such as cybersecurity, biology and chemistry. For certain high-risk requests, the system can automatically switch users to a less powerful but safer model, Claude Opus 4.8.

The release comes amid growing debate over the risks and benefits of increasingly capable AI systems. Earlier versions of Mythos reportedly demonstrated advanced vulnerability-discovery abilities that attracted attention from governments, cybersecurity experts and technology companies.

Anthropic said the model underwent extensive testing and safety evaluations before its public launch. The company believes the safeguards built into Fable 5 allow broader access to advanced AI capabilities while reducing the risk of misuse.

Also Read: Samsung bets big on AI TVs

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Beyond

India puts Starlink approval on hold for security reasons

The Indian government has reportedly put on hold the final approval process for Starlink, the satellite internet service operated by Elon Musk’s SpaceX, amid growing security concerns linked to its reported use during the ongoing conflict involving Iran.

According to reports, authorities are reassessing Starlink’s proposed operations in India after concerns emerged about how satellite-based internet services can be used in conflict zones and sensitive security situations. The review is focused on ensuring that India’s national security interests are adequately protected before commercial operations are allowed to begin.

Starlink has been seeking regulatory clearances to launch its satellite broadband services in India and has already secured several key approvals in recent months. The company aims to provide high-speed internet connectivity, particularly in remote and underserved regions where conventional broadband infrastructure remains limited.

However, recent reports highlighting the use of satellite communication networks in conflict-affected areas have prompted Indian authorities to take a closer look at the technology’s security implications. Officials are understood to be examining issues related to user verification, lawful interception capabilities, data access, emergency controls and the ability of government agencies to monitor communications when required under Indian law.

The review comes at a time when governments worldwide are debating the regulatory challenges posed by satellite internet services. Unlike traditional telecom networks that operate through ground-based infrastructure, satellite broadband systems function through constellations of satellites orbiting the Earth, creating new questions around jurisdiction, oversight and security compliance.

Industry experts note that while satellite internet services have the potential to transform connectivity in rural and remote areas, regulators are increasingly focused on balancing technological innovation with national security requirements.

The reported pause does not necessarily indicate a rejection of Starlink’s India plans. Instead, it appears to be part of a broader review process aimed at ensuring that all operational, legal and security safeguards are in place before commercial deployment.

For now, Starlink’s entry into the Indian market remains under regulatory examination.

Also Read: Adani Energy buys IntelliSmart in ₹3,050 cr smart meter deal

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Technology

Samsung bets big on AI TVs

Samsung Electronics has unveiled its latest generation of premium televisions, introducing advanced display technologies and artificial intelligence-powered features as part of its strategy to strengthen its position in the global television market.

As part of the rollout, Samsung showcased its new television lineup at retail outlets, including a launch event at Bajaj Electronics in Hyderabad. The company said the new range is designed to deliver improved picture quality, immersive sound and enhanced smart-home connectivity for consumers.

A key highlight of Samsung’s latest display innovations is its Micro RGB technology, which the company describes as a significant advancement in television engineering. Unlike conventional display systems, the technology uses independently controlled red, green and blue light sources to produce higher brightness, improved colour accuracy and better contrast. Samsung believes the innovation could help set new benchmarks for next-generation television displays.

The company has also integrated artificial intelligence capabilities across its latest television portfolio. These AI-powered features are designed to optimise picture quality, adjust audio settings according to content and improve the overall viewing experience. Samsung said the technology can analyse scenes in real time and automatically enhance visual performance.

In addition to premium display technologies, the new lineup includes stronger connectivity features that allow televisions to function as smart-home hubs. Users can connect and manage compatible devices through a single interface, reflecting the growing convergence of entertainment and smart-home ecosystems.

Industry analysts note that television manufacturers are increasingly focusing on artificial intelligence, larger screens and advanced display technologies as consumers seek more immersive viewing experiences. Competition in the premium television segment has intensified as brands introduce new innovations to attract buyers upgrading their home entertainment systems.

Samsung remains one of the world’s leading television manufacturers and continues to invest heavily in display research and development. The latest product announcements reflect the company’s efforts to maintain leadership in the premium TV market while addressing growing demand for AI-driven and connected entertainment solutions.

Also Read: Adani Energy buys IntelliSmart in ₹3,050 cr smart meter deal

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Corporate

Adani Energy buys IntelliSmart in ₹3,050 cr smart meter deal

Adani Energy Solutions Ltd (AESL) has announced the acquisition of IntelliSmart Infrastructure Pvt Ltd, one of India’s largest smart metering companies, in a deal valued at approximately ₹3,050 crore. The transaction marks one of the biggest consolidations in the country’s rapidly expanding smart metering industry.

IntelliSmart is currently backed by the National Investment and Infrastructure Fund (NIIF) and Energy Efficiency Services Ltd (EESL). The company has emerged as a major player in India’s power distribution modernisation efforts, managing a large portfolio of smart meter projects across multiple states.

With the acquisition, Adani Energy Solutions will significantly strengthen its presence in the advanced metering infrastructure segment. The company said the deal aligns with its strategy of building a digitally enabled energy network and supporting the government’s push for power sector reforms.

Smart meters are designed to provide real-time monitoring of electricity consumption, improve billing efficiency, reduce power losses and enhance operational performance for electricity distribution companies. The technology is a key component of India’s efforts to modernise its power infrastructure and improve service delivery.

Following the acquisition, Adani Energy Solutions’ total smart meter portfolio is expected to expand substantially. The combined business will have the capability to serve millions of consumers across the country and participate in upcoming smart metering projects under government programmes.

The acquisition also reflects growing private-sector interest in digital energy infrastructure, an area that is attracting significant investments as utilities increasingly adopt technology-driven solutions.

Adani Energy Solutions said the acquisition will help create a larger and more efficient platform for delivering smart metering services while supporting India’s energy transition goals. Subject to regulatory approvals and customary closing conditions, the deal is expected to further strengthen the company’s position as a leading integrated energy infrastructure player in the country.

Industry experts view the transaction as a significant step in consolidating the smart metering market, which is expected to witness strong growth over the coming years. The government has been encouraging the deployment of smart meters as part of broader reforms aimed at improving the financial health and efficiency of power distribution companies.

Also Read: Mehli Mistry challenges removal from Tata Trusts

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Corporate

Sensex surges over 500 points, Nifty below 23,400

Indian benchmark equity indices staged a strong recovery on June 10, with the BSE Sensex surging more than 500 points and the NSE Nifty trading below the 23,400 mark. The rally was led by strong buying in heavyweight stocks such as Reliance Industries and Hindustan Unilever, helping markets rebound after recent volatility.

Market sentiment improved after Reliance Industries gained following reports that Meta Platforms would lease capacity in the company’s upcoming artificial intelligence-enabled data centre in India. The development boosted investor confidence and triggered buying across sectors, lifting broader market indices.

The rebound came after a volatile start to the week when concerns over escalating tensions in West Asia and rising crude oil prices had weighed on domestic equities. Investors returned to the market as expectations of improved foreign currency liquidity and easing pressure on oil prices supported risk appetite.

Reliance Industries and Hindustan Unilever emerged among the top gainers of the session, contributing significantly to the benchmark indices’ rise. Banking, consumer goods and technology stocks also witnessed buying interest. On the other hand, some oil and metal counters remained under pressure and figured among the day’s laggards as investors remained cautious about commodity price fluctuations.

Most sectoral indices traded in positive territory, reflecting broad-based participation in the market recovery. Earlier in the day, GIFT Nifty had signalled a firm opening, indicating improved investor sentiment.

Also Read: Bombay HC quashes 12% retrospective spectrum charge

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Corporate

TCS wins multi-year AI-led IT deal from Canada life

India’s largest IT services company, Tata Consultancy Services (TCS), has secured a multi-year technology transformation contract from Canada Life, strengthening its presence in the European insurance sector and expanding its portfolio of artificial intelligence-led digital transformation projects.

Under the agreement, TCS will help modernise Canada Life’s IT infrastructure and business operations across its European businesses. The project will focus on integrating advanced technologies, including artificial intelligence, automation and cloud-based solutions, to improve operational efficiency and enhance customer experience.

The deal is expected to support Canada Life’s long-term strategy of simplifying technology systems, streamlining processes and accelerating digital transformation initiatives. TCS will leverage its expertise in large-scale IT modernisation programmes to help the insurer upgrade legacy systems and build more agile technology platforms.

Company executives said the partnership aims to create a more resilient and future-ready technology environment capable of supporting evolving customer needs and regulatory requirements. The transformation programme is also expected to improve service delivery and enable faster deployment of digital products and services.

For TCS, the contract represents another significant win in the global financial services sector, one of the company’s largest business segments. The company has increasingly focused on AI-driven solutions as enterprises worldwide invest in automation and digital technologies to improve competitiveness and reduce operational costs.

The deal highlights growing demand among insurers for technology modernisation as they seek to improve efficiency, strengthen cybersecurity and deliver personalised customer experiences. Many financial institutions are accelerating investments in cloud computing, data analytics and artificial intelligence to adapt to changing market conditions.

The agreement further strengthens TCS’s long-standing presence in Europe, a key growth market for the company. TCS already works with several leading financial institutions, insurers and multinational corporations across the region.

The value of the contract has not been officially disclosed, though reports described it as a multi-million-euro engagement. The project is expected to be implemented over several years, with TCS providing end-to-end services spanning technology consulting, platform modernisation, automation and ongoing operational support.

Also Read: Haleon to invest ₹2,000 cr in first India plant

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Technology

Apple brings new child safety tools

Apple has announced a range of new child safety and parental control features for iPhone, iPad and Mac users, aiming to make digital experiences safer for children while giving parents more oversight and flexibility. The updates were unveiled at the company’s Worldwide Developers Conference (WWDC) 2026.

A major change is the introduction of simplified child account creation. Parents will now be able to set up child accounts more easily and activate age-appropriate protections from the start. Apple said the move is designed to ensure that safety settings are enabled as soon as a device is configured for a child.

The company is also expanding age-based content protections across its ecosystem. Developers will gain access to tools that allow apps to provide age-appropriate experiences without requiring children to share sensitive personal information. Apple said this approach is intended to balance safety with user privacy.

Among the new features is improved parental approval for contacts and communications. Parents will have greater control over who can communicate with their children through Apple’s communication services, helping reduce unwanted interactions.

Apple is also enhancing protections against inappropriate content. Updated safeguards will automatically intervene when children are exposed to sensitive or explicit material, while maintaining privacy by processing much of the information directly on the device.

Another key update focuses on app ratings and age classifications. Parents will receive clearer information about applications and their suitability for different age groups, making it easier to decide which apps their children can access.

The company is further strengthening family management tools by improving screen-time controls and simplifying the process of managing multiple child accounts within a household. These enhancements are designed to help parents monitor usage patterns and establish healthier digital habits.

Apple said the new child safety features reflect growing concerns among families, educators and policymakers about online risks facing younger users. The company emphasised that the updates aim to protect children without compromising privacy, a principle that remains central to its approach.

Also Read: Anant Ambani gets 94.4% support for RIL executive role

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Corporate

Anant Ambani gets 94.4% support for RIL executive role

Anant Ambani has secured overwhelming shareholder support for his appointment as a whole-time executive director of Reliance Industries Ltd (RIL), marking another key step in the conglomerate’s succession and leadership transition strategy.

At the company’s annual general meeting, 94.4% of shareholders voted in favour of Anant Ambani’s appointment for a five-year term beginning May 1, 2026. The resolution received support from a large majority of public and institutional investors, reinforcing confidence in Reliance’s long-term leadership plans.

Anant, the youngest son of Reliance chairman and managing director Mukesh Ambani, has been actively involved in several group businesses in recent years. He serves on the boards of multiple Reliance entities and has played a significant role in the group’s energy, sustainability and philanthropic initiatives.

The appointment comes as Reliance continues to formalise the involvement of the next generation of the Ambani family in the conglomerate’s operations. His siblings, Akash Ambani and Isha Ambani, already hold key leadership positions across the group’s telecom, retail and digital businesses.

While a majority of shareholders backed the proposal, some proxy advisory firms had earlier expressed reservations regarding aspects of the remuneration structure linked to the appointment. Despite those concerns, the resolution passed comfortably with strong shareholder approval.

Reliance Industries, India’s most valuable company by market capitalisation, has been pursuing an extensive transformation strategy spanning energy, telecom, retail, digital services and new-age technologies. Analysts view the induction of younger leadership into executive roles as part of a broader effort to ensure continuity and long-term strategic execution.

The approval is also seen as a significant endorsement of the company’s succession roadmap at a time when Reliance is expanding investments in renewable energy, green hydrogen, artificial intelligence and consumer-facing businesses.

Also Read: Gold down at ₹1.52 lakh, Silver slips to ₹2.60 lakh

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Beyond

Gold down at ₹1.52 lakh, Silver slips to ₹2.60 lakh

Gold and silver prices edged lower in the domestic market on Tuesday as weakness in international bullion prices weighed on sentiment. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold declined by ₹10 to ₹1,51,680 per 10 grams, while silver fell by ₹100 to ₹2,59,900 per kilogram.

The decline comes after precious metals witnessed a strong rally in recent sessions amid geopolitical uncertainties and expectations surrounding interest rate moves by major central banks. However, easing safe-haven demand and a firmer US dollar prompted some profit-booking in global markets, leading to a mild correction in prices.

In major Indian cities, retail gold rates remained largely stable despite the marginal fall in benchmark prices. In Delhi, 24-carat gold was quoted at around ₹99,100 per 10 grams, while 22-carat gold traded near ₹90,850. Similar price levels were seen in Mumbai, Kolkata, Chennai and Bengaluru, with minor variations due to local taxes and transportation costs.

Silver prices also remained under pressure across key markets. Analysts said industrial demand expectations continue to support the metal in the long term, but short-term movements are likely to be influenced by global economic indicators and currency fluctuations.

Market participants are closely watching upcoming US inflation and employment data for clues on the future path of interest rates. Any indication of delayed rate cuts by the US Federal Reserve could strengthen the dollar and limit gains in precious metals. Conversely, signs of economic weakness could revive demand for safe-haven assets such as gold and silver.

Despite the day’s decline, analysts remain constructive on gold’s medium-term outlook, citing continued central bank purchases, geopolitical risks and uncertainty over global economic growth. Demand from the domestic jewellery sector is also expected to remain supportive ahead of the upcoming festive and wedding seasons.

Also Read: Sensex trades flat, Nifty tops 23,100