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All you need to know about the “round-tripping” scandal

Round-tripping involves transferring money between companies without any genuine exchange of goods or services — the only aim being to inflate revenue figures for investor consumption. Between 2021 and 2024, Builder.ai and VerSe Innovation reportedly exchanged invoices in round-tripping. Last month, Builder.ai said it planned to file for bankruptcy after one of its key lenders, Viola Credit, seized $37 million from its accounts.

Changes to the Knowledge of London aim to modernise without lowering taxi standards, says Mayor

Amendments to the Knowledge of London are being made to modernise the process without compromising its high standards, according to the Mayor of London, Sadiq Khan.In response to a question from London Assembly Member Alex Wilson, the Mayor confirmed that updates are being carried out as part of a wider action plan. Wilson had asked for details on what changes are being made and how the long-standing benchmark for taxi drivers will be protected.The Knowledge, introduced in 1865, requires London