Hong Kong flotation at $26bn by firm once valued at $100bn follows failure to list in US and UK

Shares in the fast-fashion brand Shein slumped by as much as 10% as the China-founded company made its long-anticipated trading debut on the Hong Kong stock exchange.

The Singapore-headquartered company, once valued at almost $100bn (£74bn), went public on Tuesday pricing shares at HK$48.56, valuing the business at just over $26bn.

In-store inflation rises to an annual 1.5% in August, according to a survey for the British Retail Consortium

The pace of price rises in UK shops rose to its highest level in two years in August, a trade body index shows, with higher energy costs pushing up the price of food and AI chip demand making technology more expensive.

In-store inflation stepped up to 1.5% year on year in August, up from 0.9% in July, led by prices for tinned and packaged food which increased by 2.5% against 1.1% in the prior month, according to data from the research company NIQ for the British Retail Consortium.