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...H&M had backed Renewcell, another textile recycling start-up, but it went bankrupt last month. “It is not easy,” Daniel Ervér, H&M’s new chief executive, told the Financial Times....
...H&M spent last year prioritising profitability over sales growth by closing stores and raising prices....
...H&M will close more stores than it opens this year, he added....
...Shares in fast-fashion retailer H&M jumped more than 13 per cent in early trading after the company reported rising operating profits in its first quarter, signalling that it is on track to increase profitability...
...jemima.kelly@ft.com...
...M&C Saatchi: Shares in the British marketing agency slipped 2.3 per cent after its full-year results showed a 2 per cent fall in revenues and a 10 per cent drop in profit before tax....
...“I took [the decision] because I’m not prepared to make a promise I can’t keep.”...
...“Oh, I’m feeling very good,” Giuliani replies. “Too good.” “Too good?” “I’m used to things being tight,” Giuliani explains. “I’m used to a race!”...
...So I’m not terribly concerned about rescission, but I recognise that is an option....
...“I’m not saying it’s good but in America you have a lot of AI and no regulation, in Europe you have no AI and a lot of regulation. It’s interesting,” he added....
...I’m not altogether convinced....
...I’m not sure which type of “celebrification” is worse. But I am sure that both demonstrate the extent to which politics has become debased, and utterly unserious. jemima.kelly@ft.com...
...Thanks, Richard. Richard MilneThanks very much....
...Daniel is a competent, experienced and respected leader and has the qualities needed to continue to develop the H&M group,” said Karl-Johan Persson, H&M’s chair and a former chief executive....
...However, Richard Hatch, analyst at Berenberg, cast doubt on the extent to which they could be achieved. “There are limited clear operational synergies to us,” he said....
...Jemima Kelly is an FT columnist Follow @FTMag to find out about our latest stories first...
...“We want to promote people right across the country on the basis of talent,” whether that includes bringing back Cameron or “bringing in new faces”, Richard Holden told BBC Breakfast on Tuesday....
...I’m not sure that moment ever comes....
...Jemima Kelly is an FT columnist Follow FTWeekend on Instagram and X, and subscribe to our podcast Life and Art wherever you listen...
...Thanks, Richard. Richard Waters Well, it’s a pleasure....
...“I’m a little bit worried about this rather belligerent talk about Russia going to test Article 5 [Nato’s collective defence clause], and that Europe is next in line....
...“[But] given how long [the strike] has gone on I’m not going to say it is over until there is a contract signed.”...
...If there were a fire, I’d probably save my Hermès Kellys. But what about my vintage Chanel? Don’t do it to me!...
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