(Bloomberg) -- Here’s the key business news from London-listed companies this morning.

Boohoo Plc: The fast fashion retailer, cut its forecasts on inflation-driven costs and lower sales. It also expects revenues to continue declining for the rest of the year if macro-economic and consumer conditions remain.

  • Boohoo now expects EBITDA margins between 3%-5%, compared to its previous estimate of 4%-7%

Burberry Plc: The British fashion house, announces that Riccardo Tisci will be stepping down as Chief Creative Officer and leaving the company at the end of this month.

  • Daniel Lee, the former creative head of Bottega Veneta, has been named as Tisci’s replacement

Outside The City

Deals for house purchases are collapsing after lenders pulled mortgage offers in response to soaring interest rates. Smaller lenders such as Kensington, Accord Mortgages and Hodge were among those to say they were withdrawing products Tuesday.

That follows the decision by Lloyds Banking Group Plc -- the UK’s biggest mortgage provider -- on Monday to halt some offers, while Virgin Money UK Plc temporarily stopped offering home loans to new customers.

UK Labour MP Rupa Huq has been suspended after audio surfaced of her describing Chancellor of the Exchequer Kwasi Kwarteng as “superficially” Black, she has apologized and said her comments were ill-judged.

In Case You Missed It 

Bank of England Chief Economist Huw Pill said the UK’s government’s fiscal announcement and the market reaction that followed it requires a significant monetary policy response, but the best time to assess their impact is at the institution’s regular meetings.

BT Group Plc, the telecoms company, is topping the list of cheap UK stocks attracting takeover speculation. The firm was mentioned in six mergers and acquisitions watch lists, while other UK names to feature highly included Entain Plc, Playtech Plc, Burberry Group Plc and Darktrace Plc.

Looking Ahead

British fashion retailer Next Group Plc is due to report earnings tomorrow.

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