Nike, Superdry and Lacoste ads banned in UK over ‘misleading’ green claims

Nike is restructuring its leadership team by introducing a new chief operating officer role and promoting the heads of its geographic regions to senior leadership positions as part of its ongoing turnaround strategy focused on performance sportswear.

Prof David Miles, an official from the Office for Budget Responsibility (OBR), stated that Chancellor Rachel Reeves' recent speech did not mislead regarding the economic challenges facing the UK ahead of the upcoming Budget. He emphasized that her messaging was consistent with the realities she is addressing.

The Bank of England (BoE) has announced plans to ease capital requirements for high street banks for the first time in a decade, reducing the reserve lenders must hold to stimulate lending to households and businesses. This decision comes amid ongoing discussions about the independence of the Office for Budget Responsibility (OBR) and the implications of budget leaks.

The Bank of England (BoE) has announced a reduction in capital requirements for high street banks, lowering them by one percentage point to approximately 13% of risk-weighted assets. This marks the first easing of capital rules since the 2008 financial crisis, as Governor Andrew Bailey reassures that the lessons from that period remain relevant.

Bitcoin halted its recent decline, and stocks showed a cautious rebound as the global flight from risky assets began to ease. The Bank of England adjusted its estimate for the Tier 1 capital requirements for UK banks to approximately 13% of risk-weighted assets, while also warning of potential risks associated with hedge fund strategies like the basis trade.

The average house price in the UK reached £272,998 in November, with annual growth slowing to 1.8%, according to Nationwide. This slowdown follows a period of uncertainty linked to the Autumn Budget and a slump in house prices observed in September, indicating a cooling housing market.

Stifel Financial Corp. has announced plans to shut down its UK-based equities trading business, leading to significant staff cuts, as reported by sources familiar with the situation. This decision reflects a strategic pullback in the company's operations in the UK market.

The OECD has projected that the UK economy will experience faster growth in 2026, alongside a decrease in inflation rates. This forecast reflects a positive adjustment in the economic outlook, influenced by recent budget measures aimed at stimulating growth.