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This would translate to an aggregate CET1 ratio of 10.8%, well above the passing rate of 6.9%. The tests covered Barclays, HSBC, Lloyds, Nationwide, NatWest, Santander, Standard Chartered, and Virgin Money. These eight banks account for roughly 75% of lending to the UK economy, per Bloomberg.

February sales volumes rose 1.2% month-over-month (MoM), driven by higher sales in non-food stores (which increased 2.4% MoM), per the Office of National Statistics. That鈥檚 significantly higher than the 0.2% economists polled by Bloomberg expected鈥攜et another sign of consumer resilience. Consumer expectations of inflation are easing.

China faces a difficult road to recovery: Despite some encouraging signs of recovering consumer demand, falling exports and a property slump could weigh on confidence.

The bigger picture: This is part of the Trump administration鈥檚 larger undoing of Biden-era rules. The agency has dropped its lawsuit against Zelle and is expected to scrap its BNPL rule. Its rule to regulate apps like Apple Pay and Google Wallet as banks is also being undone by Congress.

鈥淢emorable mementos鈥� over souvenirs: Millennials and Gen Zers are driving the era of 鈥渁uthentic, off-the-path鈥� travel, per Bookings.com.

Retailers need to brace themselves for a new era of protectionist trade policies that drive up costs and eat into consumers鈥� spending power, creating uncertainty for businesses and consumers alike. TikTok Will (Eventually) Survive Under Trump's Deal-Making Approach. The Supreme Court's ruling on TikTok may become irrelevant once Trump takes office.

Remittances represent a large share of global payments and will keep growing鈥攁lthough at a flat rate. Traditional money transfer organizations have to fight harder for a share of the prize as digital-only entrants have stepped up the competition.

However, despite this shift, Trump administration antitrust leaders at the Justice Department and the FTC still plan to follow the tougher Biden-era merger review rules, keeping some hurdles in place for major deals. Our take: With economic uncertainty and a generally more permissive merger climate, deal-making is set to accelerate this year.

While the long-term effects of Trump鈥檚 tariff moves will take time to settle, the immediate takeaway is simple: Agility, not size or proximity, will define success in this new era of commerce. This content is part of 蘑菇AV鈥檚 subscription Briefings, where we pair daily updates with data and analysis from forecasts and research reports.

US retail and ecommerce sales will maintain stable growth over the next five years, with pockets of opportunity emerging from new digital consumers and mobile-first online shopping trends.

Our revised US resale forecast reflects a slowdown for the ecommerce-dominated market, as the cost of selling one-of-a-kind items online comes into focus.

Most of the rest of the world will grow faster than those three large markets, stabilizing the overall numbers. Click here to view our full forecast for retail sales, worldwide. Uncertainty and instability emanating from the US will drag down a handful of countries and regions.