🧳 Foxconn Ships, Trump Flips, Markets Chill

☕️ Good Morning, Masala Crew!

It's Sunday, May 18, and just like a crispy dosa with the perfect chutney ratio, today's headlines are hitting all the right notes. Whether you're brunching hard or nursing a chai hangover from a Saturday night binge of IPL reruns, we’ve got the spicy blend of news to fuel your weekend brain. Let’s stir the pot!

☕️ Chai Shots

• 🏛️ RBI Docks Union Bank for Dirty Note Drama: Union Bank of India has been fined ₹1.66 lakh by the RBI over discrepancies in how it handled soiled notes and managed ATM cash-outs. The bank insists it's taken steps to clean up its act (literally), and that its operations remain unaffected despite the regulatory rap.

• 🇮🇳 Apple’s iPhones to Go Desi: Foxconn’s massive Devanahalli facility in Karnataka is now ready to roll out India-made iPhones starting June. The plant will be Apple’s second-largest production hub globally, as Cupertino bets big on Bharat. More in the Big Brew ☕

• 🌟 Novo Nordisk Boss Packs Up: The CEO of Danish pharma major Novo Nordisk is stepping down amid growing heat in the weight-loss drug wars. The company has seen its stock drop over 50% since mid-2024, as rivals and lackluster trials have eaten into investor appetite.

• 🚫 Vivo Faces the Music in Court: A Delhi court has summoned top execs from Chinese tech firm Vivo in a whopping ₹20,241 crore money laundering probe. Accusations include setting up shady shell firms to shuffle funds offshore. The court wants answers by August 18.

📈 Market Masala

• 🌐 Markets Take a Breather: Indian stock markets ended the week on a calm note, with Nifty and Sensex staying mostly flat. Traders are playing it safe ahead of upcoming macro data.

• 🔧 SCORES Grievance Machine in Action: SEBI resolved over 4,200 investor complaints via its revamped SCORES 2.0 portal in April. However, the backlog ticked up slightly to 4,263 cases as new grievances poured in. Resolution times are improving, with most cases wrapped up in under a week.

• ✈️ Akasa Air Takes Off Toward Southeast Asia: Akasa Air is prepping for its first international routes, targeting popular Southeast Asian hotspots. With Boeing production woes mostly behind it, the airline is ramping up fleet capacity by 30–40% in the coming months.

🌎 Global Masala

• 🇪🇺 Europe’s Defense Surge Lifts Markets: European stocks closed higher on Friday, with Germany’s RENK leading the charge—its shares jumped 8% after JPMorgan upgraded its rating. The firm’s order book shot up 164%!

• 🌟 Swiss Re Defies Wildfire Woes: Despite a $570 million hit from California wildfires, Swiss Re posted a staggering $1.3 billion in quarterly profit, crushing analyst expectations.

• 🇺🇸 US Markets Drift Upward: Wall Street saw modest gains amid mixed economic data. Inflation and earnings are keeping investors cautious. Charter Communications stole the spotlight with a $34.5B merger announcement with Cox.

☕️ The Big Brew: iPhones, India & International Pressure

Apple's shifting of iPhone production to India is stirring up more than just supply chain strategy—it's sparking geopolitical chatter too.

• 🇮🇳 Foxconn’s new 300-acre unit in Karnataka is set to ship its first batch of iPhones by June, marking India’s biggest leap yet in becoming Apple’s top production partner outside China.

• 🌐 Apple’s ops team from Cupertino recently flew in for site checks at Foxconn’s Bengaluru facility and Tata’s Hosur unit. With production trials completed, India is now ready to mass-ship iPhones for the global market.

• 📅 Tim Cook has already confirmed: most iPhones sold in the US this quarter will be made in India.

• 🇺🇸 But not everyone’s cheering. Former US President Donald Trump made headlines this week for telling Apple CEO Tim Cook to “stop building in India” and bring jobs back to the US.

• 📈 Analysts say such a shift would make iPhones cost over $3,000 in the US—making India the far more viable bet. Foxconn aims to scale up Indian production fivefold to meet demand.

• 🚀 If all goes to plan, as much as 65% of iPhones sold in the US could be Made in India by the end of 2025.

What does this mean?
India is quickly becoming the MVP in Apple’s global playbook. This isn't just about gadgets—it's about positioning the country as a premium manufacturing hub for the world.

🚀 Startup Scoop

• 🧠 Shiprocket Gets AI-Savvy: Logistics player Shiprocket is launching its Autonomous Growth Server, an AI-powered backend designed to help D2C brands automate their online stores. It's all part of their runway to a public listing.

• ⚡ Zenergize Powers Up: The EV charger maker secured ₹17 crore in seed funding, backed by names like Delhivery's co-founder. The funds will fuel R&D and fast-charging infrastructure expansion.

• 🚗 Fyn Mobility Zooms Ahead: EV-as-a-service startup Fyn raised $2.5M to grow its fleet from 1,000 to 10,000 vehicles. Backers include Swiggy’s CFO and prominent angel investors.

• 🏦 LUZO Raises $550K: A digital-first beauty & wellness platform, LUZO plans to scale up in Tier-1 cities with the help of new funding.

🍵 Chai Break Trivia

🧠 Did you know the Bhut Jolokia from India was once the world’s hottest chili pepper? Grown in Assam, this fiery little beast is over 400 times hotter than Tabasco sauce and was used in army smoke bombs and defense sprays! 🌶️🔥

☕ What's Brewing Next?

• 🛬 Akasa Air may announce international routes any day now—eyes peeled!

That’s a wrap for your Sunday sizzle! 🔥 Whether you're hitting snooze one more time or heading out for your third chai of the day (no judgment), we hope your cup is full and your inbox a little lighter. Catch you tomorrow for another fresh brew of business, bytes, and banter.

Until then — sip smart, scroll slow, and stay spicy! ☕🇮🇳