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The News in Brief

British consumers picked up the pace of their spending last month, and sales volumes over the three months to April grew by the most since mid-2021, according to official data that suggested limited impact from the surge in inflation.

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.

Gap Inc on Thursday reported a surprise profit in the first quarter, and its shares jumped 16 percent in extended trading as the apparel retailer cited restructuring efforts and easing supply chain costs.

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