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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....
...So I’m not terribly concerned about rescission, but I recognise that is an option....
...Rose Glass I’m just very on the nose....
...Thanks, Richard. Richard MilneThanks very much....
...Pre-tax adjusted operating profit rose to £797mn, beating analysts' expectations, driven by the group’s asset management arm....
...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....
...This post has been corrected since publication to show that operating profits rose in the first quarter, not sales...
...M&G’s share price rose by about 2 per cent in morning trading....
...I’m Lilah here in New York, and I’m a weekend bag with a bikini and a raincoat. With me from London is the editor of Globetrotter, Rebecca Rose....
...executive Ted Pick argued dealmaking was an “existential reality” for companies that would help usher in Wall Street’s long-awaited recovery in investment banking, as first-quarter profits at the bank rose...
...Thanks, Richard. Richard Waters Well, it’s a pleasure....
...In its more important second half, revenues rose by 2 per cent to DKr38.5bn and net profit increased by 5 per cent to DKr8bn....
...“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 . . ....
...“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 feel, in my life, like I’m writing one big piece,” she has said, but it does not sound like that....
...“At the moment, I’m sheriff for only half the county . . . and my arsenal is weaker than other regulators....
...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....
...I’m really proud,” he said. He added that the one thing that defined Supercell was only putting out games that met its high quality standards. “What is the price we are willing to pay for a value?”...
...“I’m proud to see how our ambition to mass produce the world’s greenest battery attracts top-tier financial partners, as global capital is looking to invest in electrification and climate change mitigation...
...richard.waters@ft.com...
...Like-for-like food sales rose 9.9 per cent in the most recent third quarter; clothing and homeware was up 4.8 per cent on the same basis....
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