Asos is raising £80 million from shareholders and borrowing £275 million from Bantry Bay Capital, the specialist lender which recently bailed out troubled retailers Superdry and Matalan, as it struggles to secure a turnaround after falling nearly £300 million into the red.

The founders of fast fashion retailer Boohoo doubled their pay to about £1m each last year as they were handed hefty bonuses despite missing financial targets.

A group of TikTok creators have sued to block Montana’s ban of the platform, arguing that the new law violates their first amendment rights.

THG has ended talks about a possible takeover bid by Apollo, saying the private equity company’s offer is an inadequate valuation of the online retail tech company.

The owner of a historic newsstand in a Tuscan city said he was “delighted” the business has been saved by one of his old customers — Patrizio Bertelli, the chair of the Italian fashion house Prada.

The advertising watchdog is banning growing numbers of advertisements that exaggerate the benefits of health and beauty treatments such as Botox, lip fillers and diet aids.

Campaigners are calling on the cosmetics company L’Oréal to withdraw its hair-straightening products that are largely used by black women after research linked it to an increased risk of cancer.

No casualties from the Tuesday morning blaze have been reported yet. Shop owners and fire officials told reporters that the Bongo Bazar market and three adjacent commercial precincts had been almost completely gutted.