Business

The government has made a £25 million investment in Kraken Technologies in a bid to persuade the fast-growing artificial intelligence business to list in London rather than New York. The investment, made by the British Business Bank, is the state lender’s largest direct commitment to a single company to date and forms part of Kraken’s wider $1 billion funding round …

The Bank of England is accelerating the expansion of its Leeds operation as part of a wider drive to cut costs, reduce headcount and overhaul its London estate. Under new plans approved by the Bank’s court of directors, half of all external recruitment will now be based in Leeds, as governors push to meet a long-standing commitment to station 500 …

Amazon is preparing to cut thousands more jobs as part of a sweeping overhaul driven by artificial intelligence and internal restructuring, according to reports. The world’s largest retailer is expected to announce a second round of layoffs as soon as next week, following the removal of 14,000 white-collar roles in October. The latest cuts are expected to be of a …

Juspay has secured $50 million in fresh funding from WestBridge Capital, valuing the business at $1.2 billion and strengthening its push to expand globally as demand for enterprise-grade payment infrastructure accelerates. The Series D follow-on round comprises a mix of primary and secondary investment. The secondary element provides liquidity for early backers and employees holding ESOPs, marking the second such …

KARACHI: ABHI Microfinance Bank and Finleap Financial Services (Private) Limited have entered into a strategic partnership aimed at expanding access to digital loans and Buy Now, Pay Later (BNPL) solutions, a move that reflects a growing effort to address financial disparity and improve access to formal credit across Pakistan. For many individuals and small households, limited access to timely and …

Preply has raised $150 million in a Series D funding round led by WestCap, valuing the global language learning marketplace at $1.2 billion and marking its transition into unicorn territory. The round, for which Goldman Sachs International acted as sole placement agent, will be used to accelerate product development, expand Preply’s AI and data capabilities and fuel international growth as …

Labour has been urged to stop workers accessing their private pensions from the age of 55 in an effort to curb early retirement and tackle rising unemployment, according to a leading think tank. The Resolution Foundation, which has close links to senior Labour figures, said current pension and tax rules encourage wealthier workers to leave the labour market years before …

Calling a colleague “old” because they struggle with computer skills does not, on its own, amount to age discrimination, an employment tribunal has ruled. The decision came in the case of Farah Janjua, 39, who brought claims against her former employer, Harvey Jones Ltd, after a younger manager told her her lack of IT skills was “because you’re old”. Ms …

The builder of the superyacht Bayesian, on which British technology entrepreneur Mike Lynch died, has launched a £400 million legal claim against his widow, alleging that the tragedy caused a catastrophic collapse in its sales. The Italian Sea Group (TISG) has filed a €456 million (£399 million) lawsuit in a Sicilian court, claiming that the yacht’s crew and the vessel’s …

Apple is developing a wearable “AI pin” capable of listening to conversations and responding to spoken commands, as the iPhone maker looks to regain momentum in the fast-moving artificial intelligence race. The disc-shaped device, which would be equipped with speakers, microphones and cameras, is at an early stage of development but could eventually go on sale later this decade. According …