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New Look to launch dedicated menswear stores

High street clothing retailer hopes to capitalise on booming fashion market with standalone spaces dedicated to young men

The launch of menswear-only stores shows that New Look is taking fashion’s growth market seriously.

Men’s fashion, once the poor relation of womenswear, is booming. It grew by nearly 20% in five years between 2008 and 2103 and London now has its own very successful men’s fashion week, London Collections Men. On the back of that, labels including House of Holland and Whistles have launched menswear lines and this has had a knock-on effect on the fast fashion market.

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Source: The Guardian Circular Economy RSS

China devalues yuan by 2% to boost flagging economy

China has moved after recent data showed slumping exports and a shrinking manufacturing sector, but the devaluation could deepen global currency wars

China has devalued its currency to boost flagging exports in a move that risks deepening the global currency war.

Related: Global stock markets boosted amid speculation China may devalue

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Source: The Guardian Circular Economy RSS

Indonesia increases number of cattle import permits, say reports

Australian exporters are unclear how they will be affected by changes prompted by butcher strikes in Indonesia over high beef prices

Strikes by butchers over the price of beef have led the Indonesian government to seek to import more cattle into the country, but Australian exporters are still awaiting confirmation on how the changes will affect them.

Indonesian trade minister Rachmat Gobel has increased the number of permits for the importation of live cattle, Indonesian news outlets have reported, less than a month after Jakarta announced it would slash permits for Australia by 80% from 250,000 head of cattle to just 50,000 this quarter.

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Source: The Guardian Circular Economy RSS

Supermarket food sales fall despite consumers' rising spending power

Newly cash-rich consumers are continuing to budget carefully on food and using extra money to buy luxuries they were previously unable to afford

Britain’s supermarkets are struggling to attract newly cash-rich consumers who are using their extra spending power to buy luxuries they denied themselves when incomes were being squeezed, according to the latest retailing health check.

Food sales fell for the first time this year in July, according to the monthly British Retail Consortium-KPMG sales monitor, in a month when overall sales rose 2.2% on a year earlier.

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Source: The Guardian Circular Economy RSS

Co-op bank expected to escape FCA and Bank of England fines

Regulators likely to let Co-op bank off paying penalties as large fine could undermine bank’s capital position

The Co-operative Bank is expected to escape a hefty fine after a long-running investigation into its near collapse two years ago.

The bank was warned in June it could face penalties from the Financial Conduct Authority and the Bank of England, which are preparing to announce their findings on Tuesday.

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Source: The Guardian Circular Economy RSS

Berkeley's supercharged share payout makes Sir Martin Sorrell's look modest

Tony Pidgley of Berkeley Group, which builds one in 10 London homes, netted £20m worth of shares this year in a scheme that is expected to run and run

Sir Martin Sorrell eat your heart out. The boss of WPP attracts flak every year when he collects the winnings from his supercharged incentive scheme, but they almost look modest when set against the financial prizes accumulating at Berkeley Group, the company that builds one in 10 new homes in London.

Tony Pidgley, founder and chairman, got £20m worth of shares in April from a long-term scheme created in 2009, yesterday’s annual report revealed; the same scheme is virtually nailed on to pay out similarly next year.

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Source: The Guardian Circular Economy RSS

Farming unions call for 'seismic change' in way food is sold in Britain

Agriculture leaders want government to introduce long-term contracts between farmers and supermarkets after emergency summit on falling milk prices

Farming is in a “state of emergency” and a “seismic change” is needed to the way food is sold in Britain, agriculture leaders have warned after a crisis summit on falling milk prices.

Leading farming unions called on the government to introduce long-term contracts between farmers, distributors and supermarkets and to force retailers to clearly label whether their products are British or imported.

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Source: The Guardian Circular Economy RSS

Global stock markets boosted amid speculation China may devalue

FTSE and Dow Jones climb as analysts predict Beijing will ease monetary policy to stimulate growth after figures show 8.3% fall in exports

Stock markets around the world have been lifted by hopes that the Chinese government will allow its currency to devalue to boost growth after figures at the weekend showed a surprise slump in exports from the world’s second-largest economy.

The FTSE turned a near 80-point loss into a 17-point gain on Monday as investors speculated that Beijing will move to offset further bad news from its manufacturing sector on Wednesday with a package of measures to help exports. In New York, the Dow Jones Industrial Average was up 223 points, or 1.3%, in early afternoon trading.

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Source: The Guardian Circular Economy RSS

Amazon leases warehouse in prime position to deliver food to London

Move fuels rumours that company is planning imminent launch of UK grocery service that will pit it against supermarkets

Amazon has moved a step closer to launching a grocery service in the UK, taking over the lease on a warehouse previously used by Tesco.

The US online retailer is to use the site in Weybridge, Surrey, which used to be a Tesco distribution centre and is ideally positioned just inside the M25 to deliver fresh food to London shoppers.

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Source: The Guardian Circular Economy RSS