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Bengaluru startup founder’s US visa rejected in Delhi

A Bengaluru-based startup founder has raised concerns about the US visa process after his application was unexpectedly rejected in Delhi, despite a clear business purpose and strong international ties.

Dhananjay Yadav, co-founder of NeoSapien, appeared for his visa interview at the US Embassy in Delhi on February 3, 2026. He planned to travel to the United States to meet investors and explore business partnerships, as part of his startup’s expansion strategy. Yadav had been invited by Hari Valiyath, a friend and investor, who co-founded the US-based company Pyxis, which has raised over $200 million in funding. The entire trip was to be funded by the company.

Yadav emphasized that he has previously studied in the United States and worked in Berlin, showing that he has strong international experience and a history of returning after foreign travel. However, during the visa interview, the consular officer focused on his personal salary rather than the purpose of the trip or his company’s financial backing. As is common for startup founders, Yadav draws only a minimal salary, since earnings are reinvested into the business. Shortly after, his visa was denied.

The incident has sparked discussions on social media, where many startup founders shared similar frustrations. Users pointed out that visa interviews can be unpredictable and subjective, with decisions sometimes depending more on the officer’s judgment than on documentation or travel purpose. Some noted that low personal income among early-stage startup founders can be misinterpreted as a risk, even when the trip is fully funded by the company and tied to strategic business goals.

Experts and social media users suggested that applicants in similar situations could strengthen their case by providing additional proof of financial stability, highlighting company backing, or considering other consulates. The incident has also led to broader debates about how US visa protocols assess business travelers, particularly founders whose personal earnings may not reflect their startup’s potential or value.

Also Read: Trent Q3 profit rises to ₹217 cr, revenue up 15%

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Vinay Tonse named Yes Bank MD & CEO

The Reserve Bank of India (RBI) has approved Vinay Muralidhar Tonse as the new Managing Director and CEO of Yes Bank for a three‑year term. He will succeed Prashant Kumar, whose extended tenure ends in April 2026.

Tonse, a former SBI Managing Director, brings extensive experience in retail banking and operations. His appointment is subject to shareholder approval and aligns with Yes Bank’s plans to strengthen governance, expand services, and boost customer outreach.

The market reacted positively to the news, with shares drawing investor attention following the announcement. Yes Bank confirmed that Tonse meets all regulatory requirements and is not barred by any authority from holding the position.

This leadership change comes as Yes Bank continues to implement strategic growth initiatives and leverage past restructuring efforts, including backing from global partners.

Also Read: Senior Peak XV partners exit to launch new VC firm

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Senior Peak XV partners exit to launch new VC firm

Three senior partners of Peak XV, a leading venture capital (VC) firm in India, have resigned to launch their own investment firm. The departing partners are Ashish Agrawal, Ishaan Mittal, and Tejeshwi Sharma. Agrawal and Mittal had been with Peak XV and its predecessor Sequoia Capital India for over a decade, while Sharma brought expertise in SaaS and fintech investments.

Peak XV confirmed the departures and said the decision was made after internal discussions. The firm cited differences over economics and executive payouts as the main reason for the exits. Peak XV’s leadership said these changes are normal and are in the long-term interest of the firm and its investors.

The move comes amid a period of senior-level changes at Peak XV since it split from Sequoia Capital India in 2023. The firm has been restructuring and focusing on new areas, including artificial intelligence. To fill the leadership gap, Peak XV promoted Abhishek Mohan to managing director and Saipriya Sarangan to chief operating officer.

The departing partners said they want to pursue their entrepreneurial ambitions and build a new investment firm with trusted colleagues. Industry experts see this as part of a growing trend where experienced VC investors in India are starting their own specialised funds.

Despite the exits, Peak XV remains committed to its investment plans and sees the leadership changes as an opportunity to strengthen its team and continue backing innovative startups.

Also Read: Alphabet expands Bengaluru offices, adds thousands of AI jobs

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Ex-RBI Director joins Bajaj Housing finance board

Bajaj Housing Finance Limited has appointed Ajay Kumar Choudhary as an Independent Director on its board, the company announced on February 2, 2026. His appointment will take effect from March 1, 2026, and will continue for five years, subject to approval by the company’s shareholders.

Choudhary brings over three decades of experience in central banking and financial regulation. He retired as an Executive Director of the Reserve Bank of India (RBI) and has played key roles in areas such as payments, regulatory operations, and financial policy. His expertise is expected to strengthen the company’s governance, risk management, and compliance framework.

The decision to nominate Choudhary was made following the recommendation of the company’s Nomination and Remuneration Committee, which evaluates candidates for their experience, independence, and ability to contribute to board-level decisions. Once approved by shareholders, Choudhary will serve a full term of five years and will not be subject to retirement by rotation.

This appointment is part of Bajaj Housing Finance’s broader effort to enhance its board quality and governance as the company expands in India’s housing finance sector. Since its IPO in 2024, the company has been actively growing its lending portfolio and strengthening its regulatory compliance practices.

By bringing in a seasoned central banker like Choudhary, Bajaj Housing Finance signals its focus on strong corporate governance and strategic oversight, especially in a market where regulatory expectations and operational complexities are increasing.

Also Read: India eyes higher 49% FDI in public banks

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Elon Musk’s SpaceX buys xAI in $1.25 trillion merger

Elon Musk has brought his two biggest futuristic bets closer together. His space exploration company SpaceX has acquired his artificial intelligence firm xAI in a deal that values the combined private entity at around $1.25 trillion, according to reports.

The merger brings xAI, the company behind the AI chatbot Grok, fully under SpaceX, creating a single organisation that blends space technology, satellite networks and advanced artificial intelligence. While SpaceX is estimated to be worth about $1 trillion, xAI’s valuation is pegged at roughly $250 billion.

Musk said the deal is aimed at solving one of the biggest challenges facing AI today: infrastructure. Modern AI systems rely on massive data centres that consume huge amounts of electricity and water for cooling. Musk has argued that this model is unsustainable in the long run.

His solution is ambitious, move AI data centres into space.

By placing large-scale computing infrastructure in orbit, Musk believes AI systems could run on near-constant solar energy, reduce strain on Earth’s power grids and avoid many land-based environmental constraints. Space-based data centres could also operate at scale without competing with cities and industries for electricity and water.

As part of this broader vision, SpaceX has reportedly applied to US regulators for permission to launch up to one million additional satellites in the coming years. These satellites could form a vast network capable of supporting AI processing, data transfer and global connectivity from space.

The merger also strengthens the link between xAI and Musk’s social media platform X, which already uses AI tools such as Grok for content analysis and real-time information. Integrating these systems with SpaceX’s satellite and launch capabilities could give Musk an edge in building a global AI-powered communications ecosystem.

The deal comes at a time when SpaceX is preparing for a potential initial public offering (IPO), expected later in 2026. Analysts say combining AI and space infrastructure under one roof could significantly boost investor interest, while also positioning the company as a competitor to major cloud and AI firms.

Also Read: Snowflake, OpenAI seal $200 million AI deal

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FedEx CEO warns of global trade shift

FedEx Chief Executive Officer Raj Subramaniam says the world is entering a new phase of global trade as rising tariffs and geopolitical tensions redraw long-established shipping routes. Rather than calling it the end of globalization, Subramaniam describes the shift as “re-globalization,” where trade flows are being reorganised across regions.

The comments come as FedEx faces growing pressure from higher US import tariffs, especially those imposed on Chinese goods. New levies announced by the US government have increased the overall tariff burden on imports, disrupting cross-border trade volumes and raising costs for global businesses. These developments have had a direct impact on logistics companies like FedEx, whose business depends heavily on smooth international trade.

Following the tariff announcements, FedEx shares fell sharply, reflecting investor concerns about slower global shipments and rising operational costs. The company has since warned that tariffs could reduce its operating profit by around $1 billion in the current financial year. However, FedEx has taken steps to cushion the impact by redesigning its network and shifting capacity to faster-growing trade lanes.

Subramaniam noted that traditional trade routes, particularly between China and the United States, are weakening. At the same time, China’s trade with other parts of Asia, Latin America, and emerging markets is expanding. This realignment, he said, is forcing logistics companies to become more flexible and region-focused rather than relying on one dominant global supply chain

“The world is changing, and trade is changing with it,” Subramaniam said, adding that companies must learn to operate in a less predictable but still deeply connected global economy.

FedEx is responding by cutting costs, streamlining operations, and investing in technology to better track and manage complex trade movements. The company is also adapting its air and ground networks to reflect changing demand patterns across regions.

Taking over from founder Fred Smith, Subramaniam acknowledged that volatility is now a permanent feature of global trade. While tariffs and policy changes may continue to create uncertainty, he said FedEx is focused on resilience and long-term adaptation rather than short-term disruption.

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Indonesia Stock Exchange CEO steps down after market crash

The President Director of the Indonesia Stock Exchange (IDX), Iman Rachman, resigned on Thursday, following a sudden market collapse that erased over US$84 billion from the country’s stock market in just two days. His resignation comes amid growing concerns about market governance and transparency, and is seen as an attempt to stabilize investor confidence.

Speaking to reporters, Rachman said he was taking responsibility for the turmoil and hoped his resignation would help pave the way for reforms. “This decision is about accountability and giving the market a chance to recover,” he said. Analysts believe the move may help restore investor trust in Indonesia’s financial system.

The shake-up extends beyond the stock exchange. The Financial Services Authority (OJK) also saw resignations from key officials, including its chairman, who cited similar accountability for the market downturn.

Finance Minister Purbaya Yudhi Sadewa welcomed Rachman’s resignation, describing it as a “strong signal of responsibility and commitment to market stability.” The government has promised a series of reforms to improve transparency, increase share liquidity, and attract more institutional investors.

The sharp decline was triggered after MSCI, a global index compiler, warned that Indonesia’s stock market risked being downgraded from an emerging market to a frontier market. This warning sparked panic selling, with the Jakarta Composite Index (IHSG) losing more than 8% over two sessions. Some trading was temporarily halted as authorities tried to curb the sell-off.

Also Read: Samsung India creates Guinness-winning photo mosaic

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Trump to nominate Kevin Warsh as Federal chair

US President Donald Trump is expected to name Kevin Warsh as the next chair of the Federal Reserve, a move that could shape the future direction of America’s central bank. While the White House has not yet made a formal announcement, reports suggest the decision is imminent.

Kevin Warsh is not a new face in Washington or on Wall Street. He served as a Federal Reserve governor in the past and has long been seen as a serious contender for the top job. Known for his deep understanding of financial markets and monetary policy, Warsh has been close to the centre of economic decision-making during periods of crisis and recovery.

Trump has repeatedly expressed dissatisfaction with the current Fed chair, Jerome Powell, mainly over interest rate policy. The president has argued that rates should be cut faster to support economic growth. Powell’s term is set to end later this year, opening the door for new leadership at the central bank.

If confirmed, Warsh would step into the role at a sensitive time for the US economy. Inflation concerns have eased compared to previous years, but questions remain over growth, borrowing costs and global uncertainty. Investors and economists are closely watching how the next Fed chair might balance inflation control with the need to support jobs and expansion.

Financial markets reacted cautiously to reports of Warsh’s likely nomination. The US dollar strengthened slightly and bond yields moved higher, reflecting expectations that Warsh may take a more traditional and disciplined approach to monetary policy compared to some other potential candidates.

Supporters believe Warsh’s experience could bring stability and predictability to the Federal Reserve. They see him as someone who understands both government policymaking and market realities, which could help restore confidence during uncertain times.

However, the expected nomination has also revived concerns about political pressure on the central bank. Critics worry that Trump’s open criticism of the Fed could threaten its independence, a principle seen as crucial for maintaining long-term economic stability.

Warsh will need approval from the US Senate before taking charge. His confirmation hearings are likely to be closely followed, as lawmakers question him on interest rates, inflation, and the Fed’s independence.

Also Read: Tata Motors Q3 profit ₹705 cr, down 48%

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Tesla ends Model S, Model X production confirms Musk

Tesla has announced it will stop producing its premium Model S sedan and Model X SUV by mid-2026. These two cars have long been the company’s flagship models, but sales have been falling steadily. CEO Elon Musk revealed the decision during Tesla’s fourth-quarter earnings call on 28 January 2026, describing it as an “honorable discharge” for the vehicles that helped define Tesla’s luxury lineup.

Musk explained that the move is part of a larger plan to focus on robotics, AI, and autonomous driving technology. He encouraged anyone interested in the Model S or X to place orders before production ends, noting that current inventory will be the final units.

Tesla’s Fremont factory in California will be reconfigured to manufacture the company’s Optimus humanoid robots, with a goal of eventually producing up to one million units annually. This shift underscores Musk’s vision of transforming Tesla from a traditional carmaker into a technology-driven company with a focus on automation and AI.

The Model S and X have seen declining sales over the past few years, contributing only a small portion of Tesla’s total vehicle deliveries. In contrast, the Model 3 and Model Y remain the company’s top-selling vehicles, driving most of Tesla’s revenue.

Tesla also reported its first annual revenue decline, with 2025 sales dropping about 3% to $94.8 billion, marking a rare slowdown after years of consistent growth. Despite this, Musk emphasized Tesla’s commitment to developing self-driving technology, AI-powered hardware, and robotics, including the Optimus project.

While new Model S and X cars will no longer be produced, the company will continue to support existing owners with service and maintenance. This decision reflects Tesla’s strategic realignment, focusing on high-volume models like the Model 3, Model Y, and the upcoming Cybertruck, while expanding into emerging tech sectors.

Also Read: L&T bags ₹5,000–10,000 cr Riyadh metro extension order

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PM Modi offers $500bn energy deal at IEW 2026

Prime Minister Narendra Modi on Tuesday said India’s energy sector offers $500 billion worth of investment opportunities, inviting global companies to partner in the country’s growth journey. Speaking at India Energy Week 2026, he said rising demand, policy reforms and long-term planning make India a key destination for energy investments.

He highlighted opportunities across oil and gas exploration, refining, pipelines, natural gas and LNG infrastructure. He affirmed India plans to attract $100 billion in oil and gas investments by 2030, while expanding exploration acreage to nearly one million square kilometres.

PM Modi noted that India already ranks among the world’s top refining hubs and is working to further increase capacity to meet domestic and export demand. He also underlined the government’s focus on raising the share of natural gas in the energy mix through new terminals and transport networks.

Modi said consistent reforms, stable policies and a growing economy are helping India move towards energy security and self-reliance, while offering strong returns to investors.

Also Read: Reliance, ONGC partner to share offshore energy assets