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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....
...“I don’t have a stance on that,” Powell said. “It’s not something I’m focused on . . ....
...H&M will close more stores than it opens this year, he added....
...But Powell’s stern sounds yesterday could easily turn serene tomorrow....
...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....
...The Federal Reserve’s rate-setters still expect to make about three quarter-point rate cuts this year, its chair Jay Powell said in an interview that aired last night....
...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....
...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....
...“I have cut back on my international travel, which means I’m in London most of the time, so I’m much more engaged in the work of The Lancet . . ....
...Read more on Powell’s remarks and the latest timing of any rate cut. More reaction to Powell’s comments: European stock markets had their worst day for nine months following Powell’s remarks. 3....
...Fed chair Jay Powell said on Tuesday it was likely to take “longer than expected” for inflation to reach the target level that would allow the central bank to cut rates....
...US Federal Reserve chair Jay Powell this month hinted that the central bank would move slowly. US bond yields, anticipating problems, have risen this year....
...“I feel, in my life, like I’m writing one big piece,” she has said, but it does not sound like that....
...Jay Powell’s Federal Reserve dithered on raising interest rates until it had no choice but to act....
...“At the moment, I’m sheriff for only half the county . . . and my arsenal is weaker than other regulators....
...That’s the inflation gauge where Jay Powell has already won....
...Powell appears to be ignoring those signs, but I’m not — and I think the move in gold is just the commodity market coming to the same conclusions I have....
...Richard Clarida, a former vice-chair on the Fed, also resigned after he was embroiled in the scandal. He was later cleared of any wrongdoing, as was Powell himself....
...That could prove problematic if the economic data remains strong, warned Richard Clarida, who previously served as the Fed’s vice-chair and is now at bond manager Pimco....
...Democratic Senator Richard Blumenthal welcomed a recent agreement for American sports magnates to inject $3bn into the PGA Tour’s commercial operations, and warned of intense scrutiny if the Saudi sovereign...
...Richard McGregorYes, India on the other side. I’m thinking about maritime Asia....
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