British Prime Minister Keir Starmer and finance minister Rachel Reeves met business leaders on Tuesday, seeking to hammer home their message that ministers had been told to refocus attention on economic growth with every major decision.
Starmer and Reeves held a meeting in London’s historic finance centre with leading chief executives including Lloyds Banking Group’s Charlie Nunn, BT’s Allison Kirkby, Tesco‘s Ken Murphy and BAE Systems’ Charles Woodburn, the government said.
At the meeting, Starmer said the government’s “growth mission” was the driving force behind policy decisions and ministers would have to set out how they would meet that target in order to get them approved, Downing Street said.
“Growth is the number one priority for this government: economic growth, wealth creation,” Starmer said after the meeting.
One chief executive who attended the meeting said Starmer and Reeves were open to ideas on how to achieve that.
The CEO, who asked not to be named, said it was now important that the government continued to make announcements on scaling back regulation and improving infrastructure to build positive momentum in the economy in the coming months.
Reeves is due to give a major speech on Wednesday where she will outline her plans to revive Britain’s stagnant economy.
The speech will be closely watched after a rise in global borrowing costs earlier this month demonstrated how tight Britain’s public finances are. This led to speculation that Reeves may need to cut spending or raise taxes to keep to her self-imposed rules limiting borrowing.
Reeves and Starmer promised voters ahead of last July’s election that they would turn Britain into the fastest-growing Group of Seven economy.
But since the Labour Party took power, the economy has lost momentum with many employers blaming Reeves’ first budget plan, which included an increase in the tax burden on businesses.
The government set out new plans on Tuesday to relax rules so companies can release some of the GBP160 billion ($199 billion) in corporate pension surpluses to invest in their businesses or payments to staff, rather than just keeping them in safer but lower-return assets such as government bonds.
A report by industry body Pensions and Lifetime Saving Association last year broadly supported more surplus sharing, but noted that surpluses could change as a result of market fluctuations.
Zalando has announced Iamisigo, a Nigerian-founded brand, as winner of its Visionary Award 2025 “for its boundary-pushing exploration of artisanal craftsmanship and pioneering textile innovation”.
As well as the €50,000 prize, the label will present its collection on the runway at Copenhagen Fashion Week SS26 in August “with Zalando’s continued support through financial assistance for the show production, facilitating mentorship opportunities and tailored industry connections”.
The company said the award reflects its “commitment to supporting emerging designers who challenge conventions and inspire progress in the fashion industry”.
The brand blends heritage textiles with traditional craft techniques drawn from across Africa. It was founded by Bubu Ogisi and offers “contemporary designs with a bold, fresh perspective”.
At an exhibition at Copenhagen Fashion Week AW25 this week, the award finalists introduced their brands, presented their visions and ethos through a showcase of their hero pieces and a panel talk, hosted by Zalando.
We’re told the jury chose Iamisigo “for its dedication to blending ethical sourcing with a commitment to empowering local communities. The brand’s distinct voice, visionary and magical aesthetic challenge conventions, offering a new perspective on what it means to drive positive change in fashion; transcending gender norms, designing for spirits and energies”.
The jury also said that Bubu Ogisi “embodies the essence of a visionary in many ways, and that she is a rare creative talent working in this space today, with a brand whose output is both beautiful and miraculous”.
Deckers Outdoor on Thursday beat third-quarter sales estimates on robust holiday demand for its Hoka running shoes, but an in-line annual forecast caused the footwear maker’s shares to tumble 17% in extended trading.
Hoka shoes with their oversized soles have been gaining market share from brands such as Nike in the sportswear category. The brand, which retails for up to $300 in the United States, have also enjoyed full-price sales.
This drove up the company’s third-quarter revenue by 17% to $1.83 billion, beating analysts’ average estimate of $1.73 billion, according to data compiled by LSEG. Deckers also raised its annual net sales forecast for a second time this year.
“The guidance looks pretty conservative and considering the beat, it’s bit of a negative read into the out quarter,” said Drake MacFarlane, analyst at MScience.
The popularity of the Hoka shoes and the success of the company’s Ugg boots and sandals has helped it post double-digit revenue growth for nearly seven quarters.
The company now expects annual net sales to increase about 15% to $4.9 billion, compared with its prior expectation of about 12% growth to $4.8 billion. Analysts estimated an increase of 14.9% to $4.93 billion.
Deckers expects annual earnings per share of $5.75 to $5.80, compared with its prior forecast of $5.15 to $5.25.
Amazon.com is increasing its advertising on billionaire Elon Musk’s social media platform X, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
The major shift comes after the e-commerce giant withdrew much of its advertising from the platform more than a year ago due to concerns over hate speech.
In 2023, Apple also pulled all of its advertising from X and has recently been in discussions about testing ads on the platform, the report said.
Several ad agencies, tech and media companies had also suspended advertising on X following Musk’s endorsement of an antisemitic post that falsely accused members of the Jewish community of inciting hatred against white people.
Monthly U.S. ad revenue at social media platform X has declined by at least 55% year-over-year each month since Musk bought the company, formerly known as Twitter, in October 2022. He had acknowledged that an extended boycott by advertisers could bankrupt X.
Musk has become one of the most influential figures following President Donald Trump‘s re-election. He now leads the Department of Government Efficiency, which aims to cut $2 trillion in government spending.