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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....
...The syndicate, announced by industry veteran Richard Brindle’s Fidelis Partnership, aims to take in $180mn of premiums in the second half, and $450mn in 2025....
...Rivals in the retail industry meanwhile such as Sweden’s H&M, with its garment collection scheme, and online retailers Asos and Zalando are keen to tap the nascent demand for second-hand fashion....
...H&M will close more stores than it opens this year, he added....
...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....
...The FT’s AI editor Madhumita Murgia and West Coast editor Richard Waters have more details on the potential revamp....
...H&M blamed unusually hot weather in September for poor sales as the Swedish fast-fashion retailer reported a big increase in profits....
...“Typically [underwriters] have to click three buttons to [issue a] quote,” said Richard Hartley, co-founder and chief executive....
...Additional reporting by Richard Milne...
...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....
The end of the central bank’s monetary tightening campaign is in sight — and so are rate cuts
...The composers — Cassandra Miller, Laurence Crane and Linda Catlin Smith — make a complementary trio....
Federal Reserve chair faces communication challenge as investors think cooling economy means tightening is over
Investors brush off central bank chair’s warning that ‘progress must continue’ in inflation fight
...Apple and AI: After parking its electric vehicle ambitions this week to switch resources into AI projects, Apple needs to act quickly, writes Richard Waters. 3....
...Additional reporting by Peter Campbell and Claire Jones Letter in response to this article: Baltimore disaster must address totality of risks / From Richard G Little, Visiting Research Scholar Industrial...
US central bank ‘will not hesitate’ to raise interest rates again if necessary, says chair
ECB, Fed and BOE overlooked potential for global price spikes after end of pandemic and Russian assault on Ukraine
...A couple of years ago, inspired by Everton’s depressing form, I developed a variant of Boyle’s Law which goes: QM=1/H where QM is the quality of the midfield and H is the number of times the goalie has to...
...Second, in 1971 Richard Nixon’s secretary of state, William Rogers, supported a political settlement of the Arab-Israeli conflict, including withdrawal from territories occupied in the six-day war of 1967...
Jay Powell points to elevated geopolitical tensions posing ‘important risks’ to the global economy
...The UN efforts are part of an operation under Smith that costs more than $1bn a year to run, according to people familiar with the company....
...Carine Smith Ihenacho, the fund’s chief governance and compliance officer, said: “We are concerned with anything that takes away shareholder rights . . ....
...Which 1992 film starred Whoopi Goldberg and Maggie Smith? Poly Styrene was the lead singer of which punk band?...
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