1. New Look seeks to slash long-term debt in turnround plan  Financial Times
  2. New Look pursues debt-for-equity swap after lacklustre Christmas  Retail Gazette
  3. New Look hands ownership to creditors in bid to cut debt  Telegraph.co.uk
  4. View full coverage on Google News

New Look has announced plans to pursue a debt-for-equity swap as part of a painful restructuring scheme that includes cutting its debt from £1.35 billion to £350 million.

New Look's executive chairman Alistair McGeorge has said the company is now in a position to "attack rather than defend" after it unveiled a dramatic rescue plan that will see it hand control to its lenders.

China's 2018 trade surplus with the US surged to a record $323.3 billion, but exports contracted in December as the delayed impact of President Trump's tariff hikes started to hurt demand.

Financial markets around the world sell off sharply following fall in Chinese exports