Shares were lower in Australia, Japan and South Korea. That set the broader MSCI Asia Pacific Index up for a fourth consecutive day of decline as rising bond yields around the world put a question mark on valuations. Equity-index futures for US stocks edged lower in early Asian trade.

With oil holding above $100 and little sign of an easing in the Iran conflict, yields on 30-year Treasuries on Tuesday hit levels last seen in 2007 on concern elevated energy costs may push the Federal Reserve toward a hike rather than a cut. Treasuries were steady in early Wednesday trading.

A gauge of the dollar closed at its highest in six weeks. Gold, a non yielding asset, held its losses from the prior session, trading under $4,500 an ounce. Chip shares erased earlier losses in the US session, leaving the Philadelphia Stock Exchange Semiconductor Index, or SOX, little changed.

Global stocks have retreated for three straight days after investors spent weeks brushing aside concerns over the war in the Middle East on optimism that artificial intelligence spending would continue to fuel corporate earnings growth. Attention is now turning to Nvidia Corp.’s earnings on Wednesday, with investors increasingly questioning whether the AI-driven rally has run too far, too fast.

Live Events

“The issue of rising bond yields is still something which could create problems for today’s expensive stock market,” said Matt Maley at Miller Tabak.
The S&P 500 fell 0.7% and the Nasdaq 100 Index dropped 0.6% as rising yields, hot US inflation numbers and elevated oil prices curb investors’ appetite. Treasury yields continued their ascent Tuesday, with the 30-year benchmark approaching 5.20% and the 10-year rising past 4.65%. Bond markets across Europe and Japan also fell Tuesday.

Yields on government bonds have surged globally in recent weeks as a jump in energy prices caused by the Iran war adds to inflation fears, pushing traders to bet the Federal Reserve will hike interest rates as soon as this year. Mounting deficits are also prompting investors to demand greater compensation to own longer-maturity debt.

Three of Britain’s best-known high-street names have been censured by the Advertising Standards Authority (ASA) after the watchdog found their Black Friday promotions overstated the true value of the discounts on offer, in a ruling that will sharpen the focus on pricing claims across the retail sector this Christmas.

The regulator concluded that John Lewis, Boots and Debenhams each breached the advertising code by presenting reference prices that could not be substantiated as genuine established selling prices, the long-standing benchmark by which savings claims are judged.

In John Lewis’s case, two laptop promotions came under scrutiny. A MacBook Air advertised with a £150 saving against an earlier price of £849 was found not to meet the threshold, with third-party pricing data indicating the higher figure had only been in place briefly before the promotion began. A separate Asus laptop, advertised with a £450 reduction, was likewise judged not to represent a genuine saving.

The ASA also upheld complaints against Debenhams over banners offering discounts of “up to 44%”, and against Boots over a fragrance promotion marked down from £80 to £60, ruling that there was insufficient evidence in either case that the higher prices reflected the goods’ usual selling prices.

The interventions form part of the ASA’s expanding programme of AI-assisted monitoring, which has already produced action against travel firms and the online retailer Very over similar pricing claims. The watchdog has made clear that its proactive Active Ad Monitoring system is being scaled up to identify suspect promotions at speed, particularly around high-stakes trading events such as Black Friday and the January sales.

Emily Henwood, an operations manager at the ASA, said consumers were entitled to expect that Black Friday bargains were the real thing. Retailers, she added, must remember that promotional events do not buy them an exemption from the rules and that any advertised discount must be capable of being proved.

The rulings sit within a broader pattern. Consumer research has repeatedly shown that headline Black Friday savings are not all they seem, with one widely reported study finding only one in seven so-called Black Friday bargains offered a genuine discount compared with prices charged at other points in the year. The CAP Code is unambiguous on the point: under its promotional savings claims guidance, reference prices must reflect a genuine, established usual selling price and the higher figure must have been available for a meaningfully longer period than the discounted one.

For boards, finance directors and marketing leads at SMEs that take their cue from larger retailers, the message is straightforward. The regulator is no longer reliant solely on consumer complaints to police pricing; algorithmic monitoring is doing much of the heavy lifting, and the bar of proof for “was/now” claims is being applied with increasing rigour. Recent enforcement against Nationwide over its branch closure advertising and Huel and Zoe over undisclosed commercial ties to Steven Bartlett underline that the ASA is willing to take on household names where it believes consumers have been misled.

George McLellan, a partner in the dispute resolution team at law firm Sharpe Pritchard who has defended advertisers in ASA investigations, said the latest decisions showed the regulator at its most effective. “These rulings show the ASA at its most effective: tackling straightforward cases of potentially misleading advertising that directly affect consumers,” he said. “I hope the ASA and CAP continue to prioritise this kind of core regulatory enforcement over broader attempts to influence social policy through advertising rules.”

For consumers, the practical takeaway is that scepticism remains the sharpest tool in the shopper’s arsenal. For retailers, the cost of a censure now goes well beyond a corrective ruling: reputational damage, the prospect of follow-on action from the Competition and Markets Authority under its strengthened consumer powers, and the wider chilling effect on customer trust all argue for tighter discipline around how discounts are constructed and communicated.

If Black Friday is to remain a serious commercial fixture rather than a marketing folk tale, the burden of proof, the ASA has made clear, sits squarely with the retailer.

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

Ford Motor Co. is partnering with Seattle-based outdoor brand Filson to launch a new Bronco SUV aimed at consumers who value rugged utility, outdoor adventure and products built to last for generations.

The companies announced Tuesday that the first-ever Bronco Filson SUV will debut on June 3.

“It is definitely catered to those that really have the appreciation for the outdoors, but [those who] also have an appreciation for products that you buy for the durability and the legacy of them standing up over time,” Dave Rivers, head of Ford Enthusiast Brands, told FOX Business. 

“Think about Broncos from the ’60s that now go for over $100,000 – ones that are passed on through generations. … The same exists for Filson.”

FORD RECALLS OVER 179,000 BRONCO AND RANGER VEHICLES OVER SEAT DEFECT

The companies announced Tuesday that the first-ever Bronco Filson SUV will debut on June 3. (Ford Motor Co.)

The companies said the Bronco Filson collaboration is also rooted in a shared commitment to craftsmanship and American manufacturing.

“We’re both American-made. Bronco is assembled at our Michigan assembly plant, and Filson has their manufacturing footprint in the Pacific Northwest. So we have that common thread of American manufacturing,” Rivers said.

Unlike traditional marketing partnerships, Ford said the collaboration was designed directly into the vehicle itself.

“This is actually us collaborating with them to take the best of what Filson is and the best of what Bronco is and bringing it together in the product,” Rivers said.

HOW CUTTING ONE COSTLY HABIT COULD SAVE SMALL BUSINESSES THOUSANDS ON FUEL: EXPERT

The Bronco Filson is intended to function both as a daily driver and a capable off-road vehicle for outdoor enthusiasts, according to Neil Morgan, head of strategy at Filson.

“It also has the capabilities of being your commuting vehicle, but I’d say it really is attractive to those people that have that adventurous, outdoor spirit,” Morgan told FOX Business.

The automaker and Filson previously collaborated in 2020 on the Ford Bronco x Filson Wildland Fire Rig concept vehicle, which supported wildfire conservation efforts through the National Forest Foundation.

“We’re teaming up with Filson in this brand collaboration to redefine the rugged premium utility space,” Rivers said. “Between the two of us, we have just a tremendously long history in this space.”

Morgan added, “This is a partnership many years in the making.”

FORD RECALLS NEARLY 1.4 MILLION F-150 PICKUP TRUCKS OVER GEARSHIFT ISSUE

The Dearborn, Michigan-based automaker and Filson previously collaborated in 2020 on the Ford Bronco x Filson Wildland Fire Rig concept vehicle. (Ford Motor Company)

CLICK HERE TO GET FOX BUSINESS ON THE GO

The announcement follows another recent Ford partnership with workwear brand Carhartt.

Earlier this month, Ford and Carhartt announced a collaboration focused on industries such as construction, manufacturing, public services and skilled trades.

The companies also introduced a Ford Super Duty Carhartt truck, a Super Duty XLT pickup co-developed by the two brands.