News

Zomato has laid off around 600 customer support associates, primarily in Gurugram and Hyderabad, due to a slowdown in its core food delivery business and rising losses in its quick commerce subsidiary, Blinkit. The company has also been investing in automation, which has reduced the need for human intervention in customer support roles.

Frasers Group, holding a significant stake in Boohoo, opposed the proposed renaming of Boohoo's holding company to Debenhams, intensifying an ongoing rivalry between the two UK retail giants. Despite the rejection at the general meeting, Boohoo is determined to continue its rebranding strategy and turnaround plans, citing Debenhams' heritage as a key asset.

Technology entrepreneur Tom Adeyoola has been named the government's preferred candidate to lead Innovate UK, the country's £1.1 billion-a-year innovation agency. Adeyoola's experience in technology, entrepreneurship, and digital transformation is seen as a valuable asset for Innovate UK, which faces renewed scrutiny over its spending and future direction.

Aston Martin Lagonda secured a fresh injection of £125 million, funded by both the sale of its stake in Lawrence Stroll’s Formula 1 team and the issuance of new shares to Yew Tree investors. This capital boost raises Yew Tree’s stake in the company and comes amid ongoing financial challenges, operational restructuring, and market pressures such as tariffs on imported vehicles.

The UK rail regulator has confirmed that the Temple Mills depot in London has sufficient capacity to accommodate additional European-style trains, paving the way for competition with Eurostar. This decision marks a significant turning point in efforts to liberalize international rail services and introduce much-needed competition for passengers.