Fashion giant Shein has opened an investigation after a shirt was advertised on its site, modelled by a man bearing a striking resemblance to Luigi Mangione, who is accused of murdering a US healthcare chief executive.

The image with Mangione’s likeness, wearing a white, short-sleeved shirt, has since been taken down.

Shein, one of the world’s biggest fast fashion retailers, told Sky News: “The image in question was provided by a third-party vendor and was removed immediately upon discovery.

“We have stringent standards for all listings on our platform. We are conducting a thorough investigation, strengthening our monitoring processes, and will take appropriate action against the vendor in line with our policies.”

The listing was taken down on Wednesday afternoon, according to reports.

As news of the image spread across social media on Tuesday, and ‘Luigi Mangione Shein’ reportedly began trending, many speculated that the picture had been created by AI or photo-shopped.

Some supporters of Mangione accused Shein of using his likeness, while his critics have also described using the photo as a new low.

Mangione, 27, is facing trial for fatally shooting UnitedHealth’s insurance CEO, Brian Thompson, outside a New York City hotel in December.

Mr Thompson, 50, was shot dead as he walked to a Manhattan hotel where the company, the largest private health insurance firm in the US, was hosting an investor conference.

Mangione denies the state and federal charges against him, including first-degree murder “in furtherance of an act of terrorism”, two counts of second-degree murder, two counts of stalking and a firearms offence.

Prosecutors are seeking the death penalty if he is convicted, saying Mangione targeted Mr Thompson and that he “presents a future danger because he expressed an intent to target an entire industry, and rally political and social opposition to that industry, by engaging in an act of lethal violence”.

After the killing, Mangione was portrayed as a folk hero by some of those opposed to the US healthcare system.

Rallies took place outside court during his appearances and some supporters pledged funds to his defence.

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Shein, founded in China in 2012, has built its global reputation on inexpensive, fast-moving fashion trends that attract Gen Z and younger millennials. Its products are shipped to more than 100 countries.

In January, a senior company lawyer was unable to say if the company sells products containing cotton from Xinjiang, the region of China where it’s alleged members of the Uyghur ethnic group are forced to work against their will, accusations China denies.

Sky News has contacted Shein for comment.

There is “considerably more doubt” over when future interest rate cuts can take place, the governor of the Bank of England has said.

Andrew Bailey told a committee of MPs that the risks around inflation had gone up and he was “more concerned” about weakness in the labour market.

Bank staff projections expect the main consumer prices index measure of inflation to rise to 4% this year – double the 2% target rate – from its current level of 3.8%. Food prices are proving the main driver currently, with part of the increases blamed on government tax rises on employers.

On the prospects for further interest rate reductions this year, Mr Bailey said: “There is now considerably more doubt about when and exactly how quickly we can make those further steps.”

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Interest rates are elevated to help ease the pace of price growth and cut, when able, to help maintain inflation at the 2% target level.

The governor was speaking after the Bank’s split vote last month that resulted in a quarter point reduction for Bank rate to 4%.

At that time, the governor said that while he still believed that the future path for borrowing costs was still downwards gradually over time, financial markets had since understood that the outlook for the pace of cuts was more murky.

“That’s the message I wanted to get across”, he told the Treasury select committee.

“Now, I think actually, judging by what’s happened, certainly to market pricing since then, I think that message has been understood.”

A further quarter point cut to 3.75% is no longer fully priced in for this year, according to LSEG data on market expectations.

He was speaking as financial markets continued to see a widespread sell-off of long-dated bonds, largely over fears of rising government debt levels in many western economies including the US and UK.

The activity has taken the yield – the effective interest rate demanded by investors – in 30-year gilts to a 27-year high this week. Other shorter dated bonds have also risen sharply.

But Mr Bailey urged less of an emphasis on the long-term gilts, as headlines point out that any increase in the cost of servicing government debt is a headache chancellor Rachel Reeves can well do without as she battles to balance the books.

He told the MPs: “It’s important not to … over focus on the 30-year bond rate. Of course, it’s a number that gets quoted a lot, it’s quite a high number. It is actually not a number that is being used for funding at all at the moment.”

Mr Bailey also waded into the continuing row across the Atlantic that sees the independence of the US central bank, the Federal Reserve, threatened by Donald Trump and his quest for interest rate cuts.

He has moved to fire a Fed governor over alleged mortgage fraud and make a new appointment but Lisa Cook, who was appointed to the board by Joe Biden, is fighting his bid to oust her in the courts.

“This is a very serious situation”, Mr Bailey said.

“I am very concerned. The Federal Reserve… has built up a very strong reputation for independence and for its decision making,”, adding that trading central bank independence against other government decisions would be a “very dangerous road to go down”.

After hitting the highest level this century on Tuesday, the cost of long term UK government borrowing has now hit a fresh 27-year high.

The interest rate demanded by investors on the state’s long-dated borrowing (30-year bonds) rose to just below 5.75%, surpassing the 5.72% peak reached on Tuesday, pushing it to a high not seen since May 1998.

It comes as the government auctioned off these long-term loans on Tuesday and was forced to pay a premium to do so.

Issuing bonds is a routine way states raise money.

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As well as meaning the state has to pay more to borrow money, high interest rates on debt can signify reduced investor confidence in the ability of the UK to pay back these loans.

As the trading session continued, the interest rates on long-term government bonds, known as gilt yields, fell back to just above 5.66%, not enough to erase two days of rises.

The benchmark for state borrowing costs, the interest rate on 10-year bonds, also saw rises. The yield rose above 4.8% for the first time since January, before slightly falling back

The spiked borrowing cost also continued to cause a weakening in the pound.

After an initial fall to a month-long low against the dollar, one pound again buys $1.34.

It means sterling goes less far in dollars than before the latest peak in interest rates on government bonds. On Monday, sterling could buy $1.35.

Sterling dropped to equal €1.14 before easing up to €1.15. Just a few months earlier, a pound could buy €1.19 before Donald Trump’s April country-specific tariff announcements.

So why has this happened?

Government borrowing costs have been rising across the world amid a sell-off in bonds – which prompts investors to look for a higher return to hold them.

High inflation and national debts have increased concern about whether states can pay back the money.

Japan’s long-term borrowing cost hit a record high, while the yield on the US’s benchmark 10-year bond hit the 5% mark for the first time since July.

UK bond yields tend to follow the US.

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Key to easing UK borrowing costs was the announcement of the date of the budget on Wednesday morning.

UK public finances had been a worry for markets as Chancellor Rachel Reeves struggles to stick to her fiscal rules to bring down the debt and balance the budget.

Disquiet around comparatively low growth in the UK economy also played a role.