Intel will be firing 529 employees in US' Oregon as part of a layoff plan which is expected to affect around 20% of its workforce, Bloomberg reported. In a statement, the chipmaker said that the job cuts will make Intel a "leaner, faster and more efficient" organisation. Earlier, Intel had reportedly fired 107 employees from its Santa Clara headquarters.

The 8th Pay Commission is expected to hike salaries and pensions by 30%-34% for 1.1 crore beneficiaries, a report by brokerage firm Ambit Capital predicted. The report also suggested that the fitment factor could be between 1.83 and 2.46. Notably, the 7th Pay Commission had a fitment factor of 2.57, which increased minimum basic pay to ₹18,000/month from ₹7,000.

OpenAI has completed its acquisition of io, a hardware start-up co-founded by Apple's ex-chief design officer Jony Ive, who worked on devices including Apple's iPhone, iPad, iPod and MacBook Air. "We're thrilled to share that the io Products, Inc. team has officially merged with OpenAI," the ChatGPT-maker said in a statement. The deal was valued at nearly $6.5 billion.

Global Health's Medanta stock surged on high volume, breaking past key resistance at ₹1,230. Analysts say a move above ₹1,300 could open the door to ₹1,375-1,380. Analysts advise buying on pullbacks to ₹1,230-1,200 with a stop-loss at ₹1,180. While long-term growth remains intact, traders are urged to wait for volume confirmation before fresh entries.

Tracxn Technologies jumped 9.4% to ₹63.53 after announcing a buyback of up to ₹11.43 lakh shares at ₹70 each, totalling nearly ₹8 crore. Approved by shareholders, the buyback will be conducted through the tender offer route. The record date to determine shareholder eligibility is July 18, 2025.

Phoenix Mills is testing a crucial support at ₹1,480-1,450, says analyst Vijay Gupta. A bounce could target ₹1,620-1,650, but a breakdown risks ₹1,350. Despite strong Q1 growth, near-term pressure lingers post a "Reduce" rating by Nomura. Retail sentiment turned bullish, but traders are advised to wait for confirmation above ₹1,600.

Chambal Fertilisers may see a reversal if it sustains above ₹560, says analyst Deepak Pal. The stock formed a base at ₹545-550 and shows signs of a bounce. A breakout could target ₹575, with a stop-loss at ₹540. Despite a stable business and moderate debt, retail sentiment on Stocktwits remains bearish. YTD gains stand at 11%.

AI-chip startup Groq is reportedly seeking to raise $300 million-$500 million at a $6 billion valuation to support a $1.5 billion contract with Saudi Arabia. Known for its LPU chips, tailored for AI tasks such as text generation, Groq aims to rival Nvidia and AMD. The Saudi deal is projected to yield $500 million in 2025 revenue. Groq earlier partnered with Meta on Llama 3.1.

China's top diplomat Wang Yi urged ASEAN unity and deeper cooperation at a summit in Malaysia, just hours after Trump imposed steep tariffs on Southeast Asian nations. New US duties range from 20% to 40% across Malaysia, Thailand, Indonesia, and others. Amid rising tensions, China pitched itself as a stabilising force. FXI ETF rose 21% YTD, SPY up 6.7%.

A Reddit user recently shared how a four-year-old startup he was working with shut down overnight, leaving 19 employees jobless. The person said, "We all got an unexpected email from the CEO...He told us...the company had completely run out of money. We wouldn’t be getting paid this month...the company was shutting down." "There was no warning...No bridge funding," he added.