IRAN (Next Media) – A new report by a research team at Dell SecureWorks has uncovered a network of fake LinkedIn profiles suspected of being created by Iran-based hackers in order to obtain confidential information from targets.
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(BVO) – China – the big prize for Uber.
But is the ride hailing app actually winning on the mainland?
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Shares in commodity giant Glencore plunged 25% after analysts fear lower metal prices.
(BVO) – It’s not mass manufacturing on the scale you might expect in China.
But the Albion Knitting Company isn’t looking to compete with Asia – on price anyway.
Just a year old – the start-up already has an impressive client list including LVMH, Gucci and Richemont.
Christine Murphy founded the factory in London having worked in China for 18 years.
FOUNDER OF THE ALBION KNITTING COMPANY, CHRISTIAN MURPHY,
“East Asian customers, they want luxury products which are made in Europe, made in England, made in Italy so I wanted to prove it was possible to build a modern industrial scale flat knitting operation in London.”
Christian wanted to take advantage of a revival in British textiles.
The industry has been in decline over the last three decades.
But a slowdown in China and other Asian economies are starting to see a number of businesses return to Britain.
So-called reshoring is now a growing trend according to Richard Hunter from Hargreaves Lansdowne.
HEAD OF EQUITIES, HARGREAVES LANDSDOWNE, RICHARD HUNTER,
“The UK economy continues to benefit from the various measures that have been taken it’s very much a possibility that particular trend could continue.”
Official figures show output in the sector has risen in both quarters this year.
Manufacturers can compete on shorter lead times and cheaper transportation costs.
But there are challenges too.
FOUNDER OF THE ALBION KNITTING COMPANY, CHRISTIAN MURPHY,
“Because of the state of the UK knitwear industry very few people have gone into training in the last 20 years so it’s been very difficult to find the skilled staff, particularly in knitwear and linking that we need to grow at the speed that we’d like to be able to grow.”
It’s still early days for Albion and others returning home.
And reversing more than three decades worth of lost industries may take some time.
London Fashion Week is in full swing and British designers are pinning their hopes on growing demand for UK-made clothing. The Albion Knitting company is one start-up which is already supplying LVMH, Gucci and Richemont.
(Reuters, YouTube, NFL, Comedy Central) – You’ll soon be able to watch content ranging from Comedy Central shows to NFL games for free on your mobile device. Continue reading
Mining and commodities trading firm Glencore announces it will suspend dividends, sell assets and raise $2.5 billion in a new share issue as it aims to cut its debt by a third to $20 billion by the end of next year.
Toshiba posts net loss and revamps board as it seeks to put scandal behind it.
(Reuters Business Report) – If nerves weren’t shredded before, they surely will be soon?
Chinese authorities now investigating what, or who, might be behind the recent market mayhem.
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(REUTERS) – A massive sell-off drove the Dow to shed more than 1,000 points at the day’s low. A bounce back by Apple helped cut the losses but it still closed with the steepest drop in four years.
Sparking the plunge: a further fall in Chinese equities and commodity prices.
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