The Advertising Standards Authority has banned a marketing email sent by fashion brand Jaded London, ruling on 5 August that an image of a model holding a lit cigarette irresponsibly glamorised smoking.

The regulator upheld a single complaint about the email, which was sent on 27 May and showed a model standing by a scooter next to a body of water, wearing a pink backless mini dress with her back to the camera.

In its ruling, the ASA said the ad depicted “a young woman in fashionable clothing and accessories standing in front of a scooter next to a body of water, which the ASA considered evoked an aspirational holiday lifestyle”.

“She was holding a slim cigarette with visible ash at the tip, and we considered that suggested it was lit,” the watchdog said.

It added that the image was “heavily stylised and presented the model in a fashionable and attractive manner”. By associating that image with smoking, the ASA said, the ad “had the effect of portraying smoking as appealing and therefore irresponsibly glamorised it”.

The ad breached rule 1.3 of the CAP Code, which requires marketing communications to be prepared with a sense of responsibility to consumers and to society.

The ASA told Jaded London the ad must not appear again in the form complained about, and told the company to ensure future marketing communications were socially responsible and did not glamorise smoking.

Responding to the watchdog, Jaded London said it was not clear whether the model was holding a cigarette because it appeared slimmer than a typical cigarette and no smoke was visible in the image. It said that if viewers understood the object to be a cigarette, it did not appear to be lit.

The company also said the cigarette was not the focus of the ad because it was “less prominent than other elements of the image, such as the model’s clothing and accessories”.

Jaded London told the ASA it understood why it was best to avoid images of models holding cigarettes, and confirmed it would not use smoking content in future ads. The ASA said it welcomed that assurance but concluded the ad was irresponsible and breached the code.

Jaded London was founded in 2013 by siblings Jade Camber and Grant Goulden. Its clothes have been worn by Beyoncé and Kylie Jenner and are stocked in shops including Selfridges and Urban Outfitters. The brand has 1.5 million Instagram followers and recorded £51m of sales in the year to June 2025.

It is the second complaint the ASA has upheld against the company. In December 2024, the regulator banned an Instagram post promoting a footwear collaboration, ruling that images of women positioned between motorbike wheels objectified and sexualised them and were likely to cause serious offence.

The watchdog has taken a similar line with other clothing retailers over image-led marketing. In February 2022 it ruled that a Boohoo promotion featuring a model in a T-shirt and bikini bottoms was staged in a “sexually suggestive” way and told the retailer to prepare future ads with a sense of responsibility to consumers and society. In May this year the regulator banned two adverts for British beef and milk after concluding the carbon footprint claims they carried could not be substantiated.

At the time of writing, Jaded London’s Instagram feed contained several other images of people smoking while wearing its clothes.

A spokesperson for the ASA told Business Matters it was unable to comment on whether the other posts broke the rules without them going through its formal process.

“We’d always encourage anyone who has a concern about an ad they’ve seen to report it to us,” they added.

Jaded London was approached for comment.

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The shares of BSE declined 2% to their day’s low of Rs 3,550 on the NSE on Wednesday even as India’s oldest stock exchange reported a 62% year-on-year (YoY) jump in consolidated net profit to Rs 874 crore for the April-June quarter of FY27, helped by strong growth in revenue from operations and higher investment income.

BSE’s revenue from operations meanwhile rose 63% to Rs 1,566 crore in the first quarter of the ongoing financial year 2027, from Rs 958 crore reported in the corresponding quarter of the previous financial year. Investment income also rose sharply to Rs 135 crore from Rs 79 crore, while other income stood at Rs 5 crore against Rs 7 crore in the year-ago period.

The company contributed Rs 26 crore to the core settlement guarantee fund during the quarter. Total expenses rose 49% to Rs 537 crore from Rs 359 crore in the same quarter last year. Employee benefit expenses increased to Rs 87 crore from Rs 70 crore. Technology expenses rose to Rs 61 crore from Rs 50 crore.

Also Read | BSE Q1 Results: Profit soars 62% YoY to Rs 874 crore, revenue surges 63%

Nuvama on BSE share price

Nuvama maintained its ‘Buy’ call on the shares of BSE, but reduced its target price to Rs 4,090 apiece from Rs 4,570 apiece. The latest target price implies an upside potential of 13% from the stock’s previous closing price of Rs 3,618 apiece on NSE.

The brokerage said that the company reported a strong performance in Q1, but the momentum needs monitoring. Industry volumes declined due to recent regulation, Nuvama said, explaining why it reduced its FY27 and FY28 profit estimates by up to 17%, resulting in the decline in target price.

Centrum Broking on BSE share price

Centrum Broking maintained its ‘Neutral’ call on the shares of BSE, but increased its target price to Rs 3,940 apiece from Rs 3,902 apiece. The latest target price implies around 9% upside potential from the stock’s previous closing price.The brokerage said that BSE’s Q1 performance was broadly in line with expectations, with operating revenue rising 63% YoY, driven by a 93% YoY surge in the equity derivatives segment. Most other business segments also posted healthy growth, with the exception of services to corporates, it added.

“That said, BSE continues to derive a significant share of its revenue from the equity options segment, where trading volumes have been impacted by the regulatory changes effective July 1. We expect this moderation in volumes to persist, although higher investor participation and further market share gains should partly offset the impact. Operating expenses also increased sharply during the quarter. Factoring in these trends, we expect operating revenue to register a 19% CAGR over FY26–FY29E. We also forecast both reported PAT and core PAT to deliver an 18% CAGR over the same period,” Centrum further said.

BSE share price

BSE had announced its Q1 results in the post market hours of Tuesday. Earlier during the day, the shares gained more than 1% to close at Rs 3,618 apiece. The stock has gained more than 2% in a week but fell over 5% in a month. The stock is overall up 38% in 2026 so far.

In the longer term, BSE shares have gained 53% in a year, and delivered stellar returns of 1,160% in three years and 2,548% in five years. The company has a market capitalisation of more than Rs 1.47 lakh crore.

Also Read |LIC OFS opens for retail investors today: Should you apply in insurance behemoth’s offer?

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

More than 1,000 Bank of England employees spent a combined 12,889 days working outside the UK under the central bank’s working from abroad policy, according to freedom of information data first reported by The Telegraph.

Some 6,000 staff are eligible to work overseas for up to 40 days a year, on top of an entitlement to work from home for three days a week, the Bank’s official guidance states.

The Bank said on Tuesday: “The Bank’s working-from-abroad policy is in place for staff who temporarily work outside the UK. As an organisation with a significant international make-up, we recognise that colleagues may at times need to spend short periods overseas.

“Due to continued investment in modern technology and secure systems, staff are able to carry out their roles effectively while working remotely.

“The policy is subject to time limits and other conditions, including security-related restrictions, and staff are required to fulfil their usual duties and responsibilities professionally and effectively.”

The latest publicly available staff handbook, which sets out the terms alongside the Bank’s other staff codes and policies, states: “The Bank is committed to supporting colleagues working flexibly and allows colleagues to work from abroad for a maximum of 40 working days a year.”

Disclosure lands during rate debate

The figures were released a week after the Bank’s monetary policy committee, which sets Bank Rate, held the cost of borrowing for a fifth time this year.

The nine-strong committee voted by six to three on 29 July to maintain Bank Rate at 3.75 per cent, according to the published minutes. Megan Greene, Catherine L Mann and Huw Pill voted for a rise of 0.25 percentage points, to 4 per cent.

The minutes state that consumer price inflation “has fallen to 2.6 per cent since the previous meeting, although it is expected to rise later this year as the effects of higher energy prices continue to pass through”. The Bank’s target is 2 per cent.

Figures published by the Office for National Statistics in July showed inflation of 2.6 per cent in June, down from 2.8 per cent in May. Grant Fitzner, chief economist at the ONS, said: “A fall in motor fuel prices, particularly diesel, helped ease inflation in June.”

Andrew Bailey, the governor of the Bank of England, said at the time of the decision that the path for rates depended on whether the war between America and Iran continued.

“So it depends on how the events in the Middle East, frankly, unfold. And sadly, we all know this is highly unpredictable. What goes on in the Gulf is not, I’m afraid, under our control,” he said.

Bailey had already indicated that cuts were off the table ahead of the July meeting.

Employers diverge on remote rules

Other large UK employers have tightened office attendance requirements over the same period. Santander instructed its UK office-based staff to work the equivalent of 12 days a month at its sites, replacing a two-day-a-week requirement, in an update sent to 10,000 employees. The bank said in-office presence was important for supporting and developing employees, particularly those early in their careers.

PwC told its 26,000 UK employees they must spend at least three days a week in the office or at client sites, up from two to three days previously.

The Bank’s next Bank Rate decision is due on 17 September, according to its published schedule.

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The business is now looking to expand into the fast-growing padel market

A Bristol company that has developed a rankings, ratings and community platform designed to modernise how racket sports are played and organised has secured a £500,000 investment.

Levels Technologies – originally launched as SquashLevels – uses data-led insights to provide more accurate player ratings, helping to match players of similar ability and improve participation and engagement.

The business, which also has an office in London, will use the funding to further develop its platform, including launching new sports verticals and investing in commercial and data teams to accelerate user growth and partnerships, it said.

The round was led by The FSE Group, which invested £250,000 through the British Business Bank’s South West Investment Fund. It also included participation from Akira Financial, the Professional Squash Association (PSA), and the Haley Family Office.

Levels Technologies’ platform is available across web and mobile, and combines player performance data, dynamic rankings and social features, giving users a way to track progress, compete and connect.

Having already built a strong user base in squash, the business is now expanding into other fast-growing racket sports markets, starting with padel.

Co-chief executive Jethro Binns, a former professional squash player, said: “We built Levels to bring a more accurate and engaging way for people to play racket sports, starting with squash and now expanding into much larger global markets. This investment allows us to accelerate that vision, develop the platform further and grow our partnerships internationally.

“The support from FSE and our co-investors brings valuable experience as well as capital, and we’re looking forward to working closely together as we scale.”

Matt Browning, investment manager at FSE, added: “Levels has developed a differentiated platform that is already demonstrating strong engagement from its user base.

“The team has built a product that solves a clear problem in how players are ranked and matched, and there is a significant opportunity to apply this across a range of growing racket sports. With proven traction and clear expansion plans, we believe the business is well positioned for further growth.”