Author: Press room

The stylishly minded are advised to look in the mirror before leaving the house and remove one item. In the world of disposable fast fashion, it is likely to end up in a landfill site. Last month, fashion representatives met at the UN Climate Conference to discuss waste reduction. The volume of garments created makes change difficult. A report from the US National Institute of Standards and Technology notes that fashion brands produce twice as much as they did 20 years ago. Much of that is comprised of cheap garments in the near $100bn fast fashion market.About 50bn items of…

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The writer is a former investment banker and author of Power Failure: The Rise and Fall of an American IconMaking money from money is not nearly as simple and riskless as people like to think it is. In fact, Wall Street has always been a very dangerous place.Financial companies are forever taking risks that they think they can manage, only to find out, often too late, that they cannot. Just ask the former executives, as I have, of Bear Stearns, or Lehman Brothers, or Merrill Lynch. Or perhaps Sam Bankman-Fried, who has a lot of explaining to do about the…

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Eleanor Jackson Piel became a lawyer because classmates told her she could not get into law school. “So of course I applied,” she said in an interview published by the University of California, Berkeley law school. “Imagine this being my motivation! Because Barney Schapiro said I couldn’t!”The school’s acting dean also tried to dissuade Piel, rejecting her application because “females always had nervous breakdowns”, she recalled. But Piel got in anyway and was the only woman in her graduating class. Decades later, the New York Times would call her “the courts’ most elegant pain in the neck”.Piel, who has died…

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My pick of seasonal reds, priced from £8.49 to £50+, offers real character and value. Note the disparity of price in bargains from Bordeaux and Burgundy respectively. Interestingly, Tesco are listing quite a few reds with obvious ageing potential. See, for example, offers from Chapoutier and Luis Felipe Edwards (LFE). Pinot Noir, including red burgundy, predominates because it goes so well with turkey and sweetish trimmings but there are plenty of north Rhôneish Syrahs too. The wines below are listed in ascending order of price. Santé.Carmim, Monsaraz Reserva 2020 Alentejo 15% Underpriced, oaked blend of mainly local, Portuguese grapes. £8.49…

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Britain is seeing a swelling wave of industrial action this winter, from nurses to rail workers. Is the country facing a de facto general strike and is there an economic landing zone for the government and workers? We discuss what the different unions want. Plus, we examine Sir Keir Starmer’s strategy for attacking Rishi Sunak – does it amount to class war, or just expose the prime minister’s weaknesses? Presented by Sebastian Payne, with chief political correspondent Jim Pickard, economic correspondent Delphine Strauss, associate editor and columnist Stephen Bush and special guest political strategist John McTernan. Produced by Anna Dedhar…

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When Hakeem Jeffries was growing up in Crown Heights, a working-class neighbourhood in Brooklyn, his congresswoman was Shirley Chisholm, a New York politician who in 1968 became the first black woman elected to the US Congress. In 2012, Jeffries was elected to represent the same area. This week — on what would have been Chisholm’s birthday — Jeffries made history of his own when he was unanimously elected as House Democratic leader. He becomes the first black person to lead a political party in Congress and the successor to Nancy Pelosi. Speaking on Capitol Hill, Jeffries invoked the memory of…

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Tim Cook was already battling one of the biggest disruptions to Apple’s crucial supply chain operations in China since the onset of the global pandemic when the tweet tirade began. In a flurry of more than a dozen tweets on Monday, Elon Musk launched a broadside against the world’s most valuable tech company, questioning the Apple chief’s commitment to free speech. Musk, who bought Twitter for $44bn in October, rallied his 120mn followers to support a “revolution against online censorship in America”. Cook was able to placate the erratic billionaire within two days. Soon Musk was tweeting again, calling the whole…

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UK ministers have launched a review into the longstanding problem of small businesses struggling with late payments by large companies, as the government seeks to help corporate Britain through the economic downturn.Kevin Hollinrake, the new small business minister, told the Financial Times it was essential to help small companies secure prompt payments after they have provided goods or services to large businesses.He also said the government would look at a contentious recent decision by ministers to cut back the research and development tax credits available to small businesses. The tax breaks are widely used by start-ups and small- and medium-sized…

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Prices for India’s prized Darjeeling tea have tumbled this year after buyers including Tetley-owner Tata slashed purchases over a regulatory spat about blending different leaves, with growers warning that a financial crisis is threatening the so-called “champagne” of brews.Tea from Darjeeling in north-east India commands a premium around the world for its fragrant aroma and delicate flavour. But prices have fallen 16 per cent so far this season to Rs372.54 ($4.58) a kilogramme, according to data from the Tea Board of India, a government body.The drop in prices is not the result of a sudden change in supply-and-demand, but a…

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As Japanese drugmaker Eisai this week presented data confirming it had developed the first drug to slow cognitive decline in Alzheimer’s patients, the audience at a conference in San Francisco burst into applause.Among those in attendance was Lars Lannfelt, a little-known Swedish scientist who invented the groundbreaking drug, known as lecanemab, and will make a fortune if it is approved and successfully marketed.BioArctic, the company he co-founded in 2003 with Pär Gellerfors, struck a licensing deal on the monoclonal antibody therapy with Eisai in 2007, entitling it to hundreds of millions of dollars in milestone payments and royalties on lecanemab sales.About…

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