SoftBank-backed digital-commerce ecosystem AceVector Ltd has filed updated draft papers with markets regulator Sebi for an initial public offering (IPO), which will include a fresh issue of shares worth Rs 300 crore.

In addition to the fresh issue, the IPO will also involve an offer-for-sale (OFS) of 6.38 crore shares by existing shareholders, according to the updated draft red herring prospectus (UDRHP).

As part of the OFS, promoter Starfish I Pte Ltd and other shareholders Nexus, Wonderful Star Pte Ltd, Kenneth Stuart Glass, Jason Ashok Kothari, Priyanka Shreevar Kheruka, Rupen Investment and Industries, and Centaurus Trading and Investments will offload their holdings.

Despite the share sale by several investors, AceVector’s promoters and founders Kunal Bahl and Rohit Bansal, who together hold a 23.56 per cent stake, will not participate in the OFS. However, another promoter entity Starfish, which owns 30.68 per cent stake in the company, will be divesting part of its stake.

The company plans to use the IPO proceeds to strengthen technology infrastructure, support marketing and business promotion for Snapdeal, pursue inorganic growth through acquisitions, and meet general corporate requirements.

The Gurugram-based company operates Snapdeal, a value-focused lifestyle e-commerce marketplace; Unicommerce, an e-commerce enablement SaaS platform; and Stellaro Brands, an omnichannel consumer brands arm.
Financially, AceVector reported operating revenue of Rs 244 crore in H1 FY26, up 34 per cent from Rs 181 crore in H1 FY25. During the same period, its adjusted EBITDA loss narrowed significantly to Rs 9.2 crore from Rs 28 crore a year earlier.

AceVector had initiated its IPO journey earlier this year by filing confidential draft papers with Sebi in July and subsequently securing approval in November. By opting for the confidential pre-filing route, the company gained the flexibility to delay public disclosure of IPO details until the later stages.

Warren Buffett and Michael Burry, two investors closely watched across global markets, are taking diametrically opposite positions on the artificial intelligence frenzy, setting up a rare, high-stakes clash over whether Silicon Valley’s hottest trade is a once-in-a-generation opportunity or a bubble waiting to burst. Their positions, revealed in recent disclosures and letters, come as concerns about an AI bubble gain mainstream attention while investors continue pouring capital into the sector.

Buffett’s Berkshire Hathaway last month unveiled a large new stake in Alphabet, instantly propelling the Google parent into Berkshire Hathaway’s top 10 holdings. The move is widely seen as an endorsement of Alphabet’s heavy AI investments and the market’s view of the company as a frontrunner in the AI race.

The investment comes at a moment of transition for Berkshire. Buffett announced in May that he will step down as CEO at the end of this year, though he will retain his stock, handing the reins to vice chairman Greg Abel after decades at the helm of a company that began as a Nebraska textile mill and grew into one of the most influential conglomerates in American finance.

Burry doubles down on his skepticism

Michael Burry, however, is moving in the opposite direction. The investor who famously profited from betting against the U.S. housing market in 2008 has taken new short positions in Palantir and Nvidia, two of the highest-profile beneficiaries of the AI boom.He has been particularly critical of accounting practices across Big Tech, arguing that companies “have been systematically increasing the useful lives of chips and servers, for depreciation purposes, as they invest hundreds of billions of dollars in graphics chips with accelerating planned obsolescence.”

Burry is also in a period of transition. Scion Asset Management, his hedge fund, will close by year-end. In a recent investor letter, he wrote that his “estimation of value in securities is not now, and has not been for some time, in sync with the markets.” He has since launched a financial newsletter, Cassandra Unchained, where he continues to express skepticism about the AI boom.

A market split as AI hype peaks

Their opposing moves come as even industry leaders begin to acknowledge stretched expectations. Sam Altman, CEO of OpenAI, has voiced concerns about the pace and scale of speculative fervor surrounding artificial intelligence.
Still, capital continues to flood the sector, and the disagreement between two investors of such high reputation underscores the uncertainty in the market. Buffett turned Berkshire Hathaway into one of the most recognizable names in American investing, while Burry inspired Michael Lewis’s The Big Short and the film adaptation starring Christian Bale.Now, with both navigating turning points in their own careers, the divergence in their AI positions is emerging as one of the most closely watched splits in the market—one that could signal whether the boom is built on solid ground or heading toward another historic correction.

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Apple CEO Tim Cook is stepping down in a major leadership shakeup, the tech giant announced Monday.

He will transition to executive chairman of the company’s board of directors and will be succeeded by longtime Apple veteran John Ternus, the company’s senior vice president of Hardware Engineering, effective Sept. 1. 

“It has been the greatest privilege of my life to be the CEO of Apple and to have been trusted to lead such an extraordinary company,” Cook said. 

“I love Apple with all of my being, and I am so grateful to have had the opportunity to work with a team of such ingenious, innovative, creative, and deeply caring people who have been unwavering in their dedication to enriching the lives of our customers and creating the best products and services in the world.”

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The company said the transition followed a “thoughtful, long-term succession planning process” and was unanimously approved by the board of directors.

The announcement follows Cook last month downplaying retirement rumors, saying he “can’t imagine life without Apple” after 28 years with the company, CNBC reported. Cook first joined Apple in 1998 as senior vice president of Worldwide Operations before eventually being named permanent CEO in 2011, weeks before the death of co-founder Steve Jobs.

In his new role as executive chairman, Cook will continue to assist with select company matters, with a particular focus on engagement with global policymakers. He will also work closely with Ternus throughout the transition period.

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Cook also expressed complete confidence in his successor, describing the longtime Apple executive, who has been with the company for nearly three decades, as a “visionary” best fit to lead Apple into its next chapter. 

“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor,” Cook said. 

“He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future. I could not be more confident in his abilities and his character, and I look forward to working closely with him on this transition and in my new role as executive chairman.” 

Ternus, who will also join the board of directors on Sept. 1, has built an extensive legacy in hardware engineering since joining Apple’s product design team in 2001, eventually rising to senior vice president of Hardware Engineering in 2021.

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He has made numerous contributions across Apple’s hardware ecosystem, playing a key role in the development of successive generations of the iPhone, Mac and Apple Watch, as well as the iPad and AirPods product lines.

Beyond specific devices, Ternus has also championed key innovations in product sustainability, including the use of 3D-printed titanium in the Apple Watch Ultra 3 and efforts to improve device repairability to extend overall product lifespans.

Ticker	Security	Last	Change	Change %
AAPL	APPLE INC.	273.05	+2.82	+1.04%

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Apple also announced on Monday additional leadership changes alongside Cook’s departure and Ternus’ promotion.

Arthur Levinson, who has served as Apple’s non-executive chairman for the past 15 years, will transition to lead independent director on Sept. 1, 2026.

Johny Srouji, who held the role of senior vice president of Hardware Technologies, has been promoted to chief hardware officer, effective immediately.

Americans who will be traveling this summer could see the cost of their summer vacations jump due to the spike in jet fuel prices.

The energy market has seen increased volatility since the Iran war began and the flow of oil through the Strait of Hormuz has been severely constrained by the threat of Iranian attacks, impacting the availability of a key input in making jet fuel.

Data from the International Air Transport Association (IATA) Jet Fuel Price Index showed that the global price of jet fuel surged from nearly $100 a barrel late last year and at the outset of 2026 to more than $200 a barrel this month before easing back just below that threshold. As of last week, global jet fuel prices are up 105.1% from the prior year, while in North America they’ve risen 82.6% in that period, the lowest increase among regions in the report.

Those price increases have impacted air fares as airlines have looked to mitigate their increased costs through higher prices as well as other measures, such as hiking fees on checked baggage.

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Phil Flynn, senior market analyst at The PRICE Futures Group and a FOX Business contributor, said that jet fuel is the “wild card in the petroleum complex right now” and explained that “airlines are feeling the pain, especially those that have not hedged.”

“Higher jet fuel costs are a direct hit to margins. Some carriers are hedging aggressively; others are passing costs through with fare hikes,” Flynn said.

“Global air travel demand keeps growing structurally. Any sustained period of high jet prices risks some demand destruction in price-sensitive routes, but the baseline trend is still upward as economies normalize and international travel rebounds,” he added.

AMERICAN AIRLINES JOINS WAVE OF CARRIERS HIKING CHECKED BAG FEES AS JET FUEL PRICES SKYROCKET

Clint Henderson, principal spokesperson at The Points Guy, told FOX Business that, “New data from The Points Guy and our partner Points Path shows average domestic airfare for the summer is up a whopping 10-15% and international European trips are up 20%.” 

“Still, my advice remains the same – book all your trips now and then hope for a return to stability in the oil markets,” Henderson said. “If the price of your trip drops, you can get a trip credit for the difference (as long as you didn’t book basic economy).”

Henderson encouraged travelers to book trips with points and miles to save money when the cash price of air fares is high, saying “better safe than sorry and with most points and miles programs (at least in the U.S.) you can cancel and get your points back.”

UNITED AIRLINES CHECKED BAG FEES CLIMBS $10-50 AS FUEL PRICES NEARLY DOUBLE SINCE IRAN WAR

Despite the higher prices for jet fuel and air fares, Henderson said that airlines aren’t noting major drops in demand as the “consumer remains resilient at least when it comes to travel,” though he cautioned that could change if inflation remains elevated.

“The other thing to watch for is more capacity cuts. This will be a much bigger story if oil prices stay high. Already we are seeing many airlines cut some routes,” Henderson added.

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Flynn said that if tensions in the Middle East ease, it could lead to prices declining rapidly as jet fuel “remains one of the most geopolitically sensitive products in the barrel.”

“Any de-escalation in the Middle East could ease jet fuel premiums quickly. But persistent disruptions mean refiners will keep pushing yields toward middle distillates, supporting jet and diesel at the expense of gasoline cracks,” Flynn said.

Last week Treasury Man Scott Bessent unveiled Operation Economic Fury to put maximum financial pressure on the hoodlums running the Islamic Revolutionary Guard Corps. I’d like to give that economic fury some more visibility, because I think blockading Iran ports, which will keep the regime out of the money, along with a banking freeze, are two major weapons that will eventually bring the regime to an end.

We know the Iranian ports are being successfully blocked, and it won’t be long until their revenue dries up, and the IRGC, which is basically a government cartel mafioso business operation, won’t even be able to make payroll in the next couple of weeks and their retirement plans will go bust. More than $400 million of losses on a daily basis can really hurt a company. Let’s go a step further. These mob thugs all have bank accounts overseas with the money they have extorted and robbed the citizenry of Iran. Billions and billions of dollars are undoubtedly at stake.

I say these Iranian bank accounts should be seized. Places like Turkey, the UAE, Qatar, Azerbaijan, Pakistan, and I’m sure many others, should hand over the Iranian deposits, and then they could be placed in escrow in a special war account in the Treasury Department. You could say freezing the assets is enough, but I don’t think so. Actual seizure is more comprehensive. And any of these countries who refuse to comply with Operation Economic Fury will be subject to secondary sanctions and tariffs.

For example, that means any transactions by these foreign banks with America and hopefully its allies, would be removed from the international Swift payments ledger system, and would no longer be eligible to undertake financial transactions governed by the New York Fed wire in the United States. This would maximize the financial pressure on the Iranian regime. They have been stealing money and looting the Iranian treasury for decades.

I’m sure they tried to diversify their international portfolios. And for a long time they’ve been getting away with it because they own all these Iranian businesses. And that’s one reason they’re clinging to power against all odds of losing this war to America and Israel.

Here’s one of the key points Mr. Bessent made: “One of the what may prove to be fatal mistakes that the Iranians made was bombing” their “neighbors” in the Gulf Cooperation Council, “and who are now willing to be much more transparent in terms of the funds.”

And it’s not just oil money, it’s the non-oil businesses the IRGC thugs have taken over throughout the years.

Mr. Bessent suggested a freeze which is okay, but frankly I think seizure is more powerful, and I think secondary sanctions are still more powerful.

Banking, blockading, and the final Iranian financial squeeze. We are coming to the end game.