One tech worker has lost their job every 100 seconds in 2026, as per data compiled by TrueUp. The data showed that 1.65 lakh tech workers have been fired across 449 layoff events so far in 2026, coinciding with record AI spending across the industry. This translates to 865 layoffs every day, higher than the average 674 layoffs/day in 2025.

Apple has accused OpenAI of stealing its trade secrets in a high-profile lawsuit. It alleged that former engineer Chang Liu kept his company laptop after joining OpenAI and used it to download confidential files. Apple also claimed OpenAI's hardware chief Tang Tan asked candidates to bring Apple hardware to interviews and coached departing employees on bypassing security procedures.

India's organised refurbished smartphone and laptop market is expected to post double-digit growth in 2026 amid rising prices of new devices, Moneycontrol reported. Apple, which recently hiked prices, is likely to be a key beneficiary, with strong demand for refurbished iPhones and MacBooks. However, experts believe refurbished devices are unlikely to cannibalise new sales in the near term.

The Income Tax Department has released the Excel utility for ITR-7 for Assessment Year 2026-27. The form is meant for entities such as charitable and religious trusts, political parties, research institutions, universities and specified educational bodies, not salaried taxpayers. Other major ITR forms, including ITR-1 to ITR-5, are also available through online filing or Excel utilities.

India and New Zealand elevated their bilateral ties to a Strategic Partnership and adopted the Roadmap to 2030 to deepen cooperation across key sectors. The two countries aim to double bilateral trade in goods and services to NZ$7 billion (around ₹35,000 crore) by 2030. This comes as Prime Minister Narendra Modi is on a two-day visit to New Zealand.

Meta plans to build a new AI data centre in Canada that could use as much electricity as nearly 800,000 homes. The $9.17 billion facility in Alberta will be the company's first data centre in the country. It will start with 1 gigawatt of capacity, with room to expand to 1.8 gigawatts.

Shares of Dr Reddy's Laboratories led the market losers after facing immense selling pressure this week. The pharmaceutical major fell over 9 percent over five trading sessions following corporate triggers regarding semaglutide supply disruptions. The sudden operational headwinds dragged down the otherwise positive momentum across large-cap healthcare equities.

The Nifty IT index gained 2 percent on the back of strong global chip stocks and positive quarterly results. Sector bellwether Tata Consultancy Services (TCS) gained 1 percent after beating June quarter revenue expectations. Rising artificial intelligence sales helped drive institutional interest, pushing the sector to trim its recent weekly losses.

Real estate stocks emerged as the top market performers with the Nifty Realty index jumping 3.5 percent in a single session. Broad-based buying across interest-rate sensitive segments also lifted the Nifty PSU Bank index by 3 percent. The overall sector recovery was boosted by fresh capital allocation towards equity and passive schemes.

The Indian benchmark indices rebounded strongly on Friday as the Nifty 50 surged 244.10 points or 1.02 percent to close at 24,206.90. The BSE Sensex rallied 827.57 points or 1.08 percent to end at 77,569.39. Market sentiment was heavily lifted by a decline in global crude oil prices alongside technical support holding firm at 24,100.