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Daily Archives: August 6, 2019

Katharine Hamnett: Fashion tax is ‘stupid’

Image copyrightGETTY IMAGES Fashion designer Katharine Hamnett has called proposals by MPs to impose a 1p fashion tax on the industry “stupid”. She told the BBC that taxing retailers for fast fashion would be “like putting a plaster on a septic wound”. Ms Hamnett fears that the garment industry would …

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Facebook urged to shut groups seeking fake Amazon reviews

  Image copyrightGETTY IMAGESRecruiters are still using social media to find people to write fake reviews, says Which? Facebook is failing to shut down groups on its site where fake Amazon reviews are sold, consumer group Which? claims. Facebook was urged in June by the Competition and Markets Authority to probe …

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Boohoo makes offer to buy Karen Millen and Coast

  Image copyrightGETTY IMAGESKaren Millen is being sold by its current owner Fashion firm Boohoo has confirmed it has made an offer to acquire the online business of UK brands Karen Millen and Coast. Boohoo, an online-only retailer, said acquiring the website operations of the two brands “would represent highly …

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Barneys New York store chain files for bankruptcy

Image copyrightGETTY IMAGES Barneys has faced a steep rent hike at its flagship Manhattan store US luxury department store chain Barneys New York has filed for Chapter 11 bankruptcy and put itself on sale. The firm has faced soaring rents and was unsuccessful in its earlier attempts to find a …

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US officially labels China a ‘currency manipulator’

Image copyrightREUTERS The US has officially named China as a “currency manipulator”, a statement which will intensify tensions between the world’s two largest economies. The announcement by the US Treasury follows a sharp fall in the value of the Chinese yuan against the dollar. The drop caught markets off-guard as …

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Tencent set to buy 10% stake in Universal Music

Image copyrightREUTERSTaylor Swift is one of the artists on Universal’s music label Vivendi is set to sell a 10% stake in the Universal Music Group (UMG) to Chinese tech group Tencent. Universal – the world’s biggest music company – already has its content streamed by Tencent in China as the result …

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