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Elon Musk, the visionary entrepreneur behind Tesla and SpaceX, has made a bold move by merging his artificial intelligence venture, xAI, with social media platform X, formerly known as Twitter. This $80 billion deal promises to revolutionize the online experience by combining the power of AI with the real-time engagement of social media.

Apprenticeship and workplace training provider Multiverse saw its sales rise by 29% to £58.4 million for the year ending March 2024, but its losses also deepened, underscoring the high cost of its rapid expansion. The company remains well-funded and optimistic about its future, but must now prove it can translate sales momentum into sustainable profitability.

The UK's £8 billion-a-year R&D tax credit scheme is facing a major shake-up as the government moves to tackle widespread fraud and error while improving accessibility for genuine claimants. The proposed reforms include mandatory pre-approval for R&D claims and increased scrutiny to reduce fraudulent and non-compliant claims.

Frasers Group, led by Mike Ashley, blocked Boohoo's attempt to change its holding company name to Debenhams, escalating a long-running feud between the UK retail giants. Despite the setback, Boohoo remains determined to rebrand as Debenhams Group, highlighting the ongoing tensions and challenges facing both companies.

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, at a pivotal moment for the organisation. Adeyoola, who founded virtual fitting room startup Metail and has held advisory and non-executive roles, is expected to replace Indro Mukerjee in the £195,000-a-year role.