The 10 biggest business stories on Tuesday December 8

Gordon Brown to advise top investment firm; Black Friday fails to deliver for retailers; LeBron James signs lifetime Nike deal

 Basketball star LeBron James has signed  a lifetime contract with Nike - the largest single athlete deal in the company’s 44-year history
Basketball star LeBron James has signed a lifetime contract with Nike - the largest single athlete deal in the company’s 44-year history

1. Crude prices edged away from nearly 7-year lows on Tuesday as China reported strong commodity imports despite economic weakness, but overall the market remained weak due to global oversupply compounded by OPEC's decision to keep output high.

2. The former UK prime minister Gordon Brown has taken his first major role in the private sector since leaving Downing Street more than five years ago, becoming an adviser to global investment management firm Pimco.

3. British retail sales grew at the weakest pace for any November since 2011 as hopes of a surge from Black Friday discounts fell flat, according to a survey from the British Retail Consortium on Tuesday.

4. EU lawmakers and member states struck a deal on a new cybersecurity law on Monday that will for the first time force Internet firms such as Google and Amazon to report serious breaches or face sanctions, an EU source said.

5. Basketball star LeBron James has signed a lifetime contract with Nike - the largest single athlete deal in the company’s 44-year history. James has been partnered with the company since he signed a $90million (£60m) contract before graduating high school. The NBA star's new deal financial terms have not been disclosed.

6. The UK’s biggest banks fear cyber-attacks more than regulation faltering economic growth and other potential risks according to a study of 133 bankers conducted by PwC.

7. The Chinese government has once again blocked its citizens from accessing Wikipedia, the world's largest free online encyclopaedia. For a while it had only blocked the Chinese version of the site, but now all versions have been put behind its firewall, the International Business Times reports.

8. Air France KLM has reported 1.8 per cent growth in its passenger numbers in November, despite the 13 November terror attacks on Paris. Its chief financial officer Pierre-Francois Riolacci said the attacks would not jeopardise the company's targets for the full year.

9. Cab hailing app Uber has warned European Union (EU) regulation could mean that technology startups from Europe are unable to compete internationally.

10. Mobile phone users will be able to send a text to opt out of receiving marketing calls, under regulators' plans according to a progress report by consumer group Which?

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Please enter a valid email
Please enter a valid email
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Please enter your first name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
Please enter your last name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
You must be over 18 years old to register
You must be over 18 years old to register
Opt-out-policy
You can opt-out at any time by signing in to your account to manage your preferences. Each email has a link to unsubscribe.

By clicking ‘Create my account’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in