Get well soon, M&S, you've had a place in my heart for 50 years
There's a bit in Richard Osman's second Thursday Murder Club novel, The Man Who Died Twice, where the elderly sleuth Ibrahim Arif is mugged and hospitalised. Obviously anyone being mugged is horrible, but having it happen to courteous, gentle Ibrahim is particularly distressing.
For me, Marks & Spencer is the shop version of Ibrahim. If this cyberattack had to happen at all, could it not have happened to someone younger, brasher, sharper elbowed and less venerable, like one of those fast-fashion chains with questionable manufacturing processes? It has been nearly a month since M&S was hacked, and it is still suffering the aftershocks. Online orders are still suspended. Last week it emerged that some customers' personal data was stolen, though not credit card
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Auto Car
15 minutes ago
- Auto Car
Is this the most confusing car brand of all time?
The story behind car maker Talbot is far more complicated than you might think Open gallery Percy Lambert became the first person to do 100mph in this 1913 Talbot Stunning Talbot-Lago teardrop arrived in 1938 Talbot-Lago T26 racing car won several grand prix Rear-wheel drive Talbot Sunbeam Lotus was a hot hatch delight Close What is the most confusing car brand of all time? It's an intriguing question – and we reckon the answer might well be Talbot. The story started all the way back in 1888, when Charles Chetwynd-Talbot, the 20th Earl of Shrewsbury, founded a London taxi firm with the competitive advantage of using newfangled pneumatic tyres. Eight years later, the Earl entered business with one Adolphe Clément, who had made a fortune from said invention, to sell the Frenchman's tyres, bicycles and cars in London. In 1902, the pair strengthened their partnership, rebranding the cars Clément-Talbot. But after just a year they bisected their business: the Earl would sell cars badged Talbot in Britain, his partner cars badged Clément-Bayard in France. Amusingly in hindsight, adverts in Autocar stated that this change was being made 'in order to prevent confusion in the mind of the public'. In 1906, the Earl's London factory began making cars of its own design, separating the two firms yet further. Talbot soon started succeeding in races and reliability trials, earning it the nickname 'Invincible Talbot'. Its biggest coup came in 1913, when Percy Lambert became the first person to do 100 miles in an hour, lapping Brooklands in a 25hp special – even though 'he could hardly see for several laps' due to thick fog. Enjoy full access to the complete Autocar archive at the The Great War badly disrupted the London firm and literally gutted the Paris firm, and both struggled to recover afterwards. So in late 1919 the Earl sold up to Darracq, a British-owned French car maker; and in 1921 Clément sold his factory to local upstart André Citroën. The new owners of the Earl's old firm kept the Talbot brand for London-made cars and started using Talbot-Darracq for Paris-made cars. In short order, they bought Wolverhampton's Sunbeam and put the lot under the unfortunately named umbrella of STD Motors. Real excitement came in 1930 as Talbot ventured to Le Mans for the famous 24-hour race and upset the big players. Bentley scored a one-two with its 6.6-litre monsters, but Bugatti, Alfa Romeo, Mercedes and MG were all outclassed by Talbot's 2.3-litre 90s – 'really remarkable', said Autocar. It then twice repeated this impressive feat in the following years with its enhanced 105s. However, all was not well, as the Western world had plunged into a terrible economic depression and Sunbeam had long been unable to replicate Talbot's prosperity, eventually dragging STD under. Rootes, owner of Britain's Hillman and Humber car brands, came to the rescue of Sunbeam and Talbot, leading Autocar to proclaim: 'Under this energetic new management, there is no doubt that the Talbot name will continue to rank high in automobile circles.' It looked as though the Talbot-Darracq business would vanish – until an unexpected buyout by its managing director, the 'large and determined' Italian Antonio Lago. Henceforth two separate firms would use the Talbot brand, but to avoid confusion Lago's cars were usually referred to in Britain as Darracqs or Talbot-Lagos. The two firms trod diverging paths: Talbot built restyled humble Hillmans while Talbot-Lago went upmarket with its cars, provided chassis for coachbuilt stunners and competed in grands prix. In 1938, Rootes decided to merge Talbot and Sunbeam, introducing yet another hyphenated name to this already muddled lineage. Both Talbots enjoyed the 1950s: Talbot-Lago won grands prix and Le Mans with its T26 and crafted some beautiful luxury and sporting cars for the road, while Sunbeam-Talbot attracted envy for its saloons and convertibles – one of which also won the Coupes des Alpes in the hands of Stirling Moss. However, confusion persisted, leading Rootes to shorten Sunbeam-Talbot to just Sunbeam in 1954 – 'a short life but a merry one', we said. And five years later, Talbot-Lago's prolonged suffocation by postwar austerity and heavy taxation on luxury cars finally killed it, its assets being bought by Simca. But that was not the end of the story. Simca and Rootes both later became part of Chrysler Europe, and when that rotten business was dumped at PSA's door in 1979, guess which of its defunct brands – Alvis, Bugatti, Delage, Delahaye, Panhard, Simca, Sunbeam and Talbot – was deemed ripest for revival? 'It has the best image of strength with the European public,' president François Perrin-Pelletier explained to Autocar. 'Most of all, however, it is perceived by 80% of the British public as an English make and 80% of the French as a French make.' It didn't last long. Talbots either overlapped with other PSA models or were duds, so the next-generation models were redirected to Peugeot and the brand was consigned to die again with the Express van in 1994. Honestly, what a mess. Join our WhatsApp community and be the first to read about the latest news and reviews wowing the car world. Our community is the best, easiest and most direct place to tap into the minds of Autocar, and if you join you'll also be treated to unique WhatsApp content. You can leave at any time after joining - check our full privacy policy here. Next Prev In partnership with
Reuters
15 minutes ago
- Reuters
Exclusive: Shein and Reliance aim to sell India-made clothes abroad within a year, sources say
MUMBAI/LONDON, June 9 (Reuters) - Fashion retailer Shein and partner Reliance Retail plan to rapidly expand their Indian supplier base and start overseas sales of India-made Shein-branded clothes within six to 12 months, said two people with knowledge of the matter. The China-founded, Singapore-headquartered e-commerce firm has been discussing plans with the Indian retailer since before the U.S. imposed tariffs on Chinese imports that intensified the need to diversify sourcing, the people said. The aim is to raise Indian suppliers to 1,000 from 150 within a year, they said. In a statement to Reuters, Shein said it licensed its brand for use in India. Reliance did not respond to queries. Shein sells low-priced apparel such as $5 dresses and $10 jeans shipped directly from 7,000 suppliers in China to customers in around 150 countries. Its biggest market is the U.S. where it is adjusting to tariffs on low-value e-commerce packages from China which were previously imported duty free. The retailer launched in India in 2018 but its app was banned in 2020 as part of government action against China-linked firms amid border tension with its northeastern neighbour. It returned in February under a licensing deal with the Reliance Industries ( opens new tab unit which launched selling Shein-branded clothes produced in local factories. In contrast, Shein's other websites mainly list goods from China. Reliance, controlled by Asia's richest person, Mukesh Ambani, has contracted 150 garment manufacturers and is in discussion with 400 more, said the two people, declining to be identified due to confidentiality concerns. The goal is 1,000 Indian factories making Shein-branded clothes within a year for both the Indian market and to service some of Shein's global websites, the people said. Shein initially wants to list India-made clothes on its U.S. and British websites, one of the people said. Discussions have been ongoing for months and the launch time of six to 12 months could change depending on supplier numbers, the person said. The scale of supplier expansion and export time frame is reported here for the first time. Shein has licensed its brand for domestic use to Reliance which "is responsible for manufacturing, supply chain, sales and operations in the Indian market," Shein said in a statement. In December, Minister of Commerce and Industry Piyush Goyal told parliament that the Shein-Reliance partnership aimed to create a network of Indian suppliers of Shein-branded clothes for sale "domestically and globally". Shein is a fast-fashion behemoth earning annual revenue of over $30 billion through low prices and aggressive marketing. Most of its products are from China with some made in countries such as Turkey and Brazil. Its expansion in India mirrors interest in the country from the likes of Walmart (WMT.N), opens new tab and others throughout the global fashion and retail industries, particularly those looking for suppliers outside China due to the Sino-U.S. trade war. The Shein India app has been downloaded 2.7 million times across Apple and Google Play stores, averaging 120% on-month growth, showed data from market intelligence firm Sensor Tower. Offerings during its first four months have reached 12,000 designs, a fraction of the 600,000 products on its U.S. site. In the women's dresses category, its cheapest item is priced 349 Indian rupees ($4) versus $3.39 on the U.S. site as of June 9. Shein's Indian partner Reliance, which operates the app, is working with suppliers to assess whether they can replicate Shein's global best-sellers at lower cost, the two people said. Reliance aims to emulate Shein's on-demand manufacturing model, asking suppliers to make as few as 100 pieces per design before increasing production of those that sell well, they said. Executives from Reliance recently visited China to understand Shein's "innovative" supply chain operations, "data driven" design processes and "disruptive" digital marketing, Manish Aziz, assistant vice president Shein India at Reliance Retail, said in a LinkedIn post in which he called Shein's scale and speed "truly incredible". The partnership is one of dozens Reliance has with fashion brands, such as Brooks Brothers and Marks and Spencer (MKS.L), opens new tab. The firm also runs e-commerce site Ajio and its retail network competes with Amazon (AMZN.O), opens new tab and Walmart's Flipkart as well as value retailers such as Tata's Zudio. Reliance plans to work with new suppliers to source fabric - especially fabric made using synthetic fibres where India lacks expertise - and import required machinery, the people said. The firm will invest in suppliers and help them grow which in turn will help the Shein-Reliance partnership go global, they said.
Reuters
15 minutes ago
- Reuters
US aluminium tariffs threaten scrap clash with European Union
LONDON, June 9 (Reuters) - U.S. President Donald Trump's move to double tariffs on aluminium imports heightens the risk of a full-blown scrap war with the European Union. Although they are supposed to be blanket tariffs with no exceptions or exemptions, there is one significant gap in the tariff wall. Aluminium scrap is explicitly excluded on the grounds it constitutes a key raw material for U.S. manufacturers. The Trump administration's decision to lift aluminium tariffs to 25% effective the start of March has already caused U.S. imports of recyclable material to rise. This week's doubling of the tariff rate to 50% could turn the import flow into a flood. The European Union, which is mulling export duties on aluminium recyclables to stop what it terms "scrap leakage", is coming under pressure to move sooner rather than later. The U.S. Midwest aluminium premium has rocketed to a record $1,325 per metric ton after Wednesday's doubling-down on import tariffs. That's the price U.S. buyers will pay over and above the international price traded on the London Metal Exchange (LME), currently $2,430 per ton for cash metal. What once reflected the cost of transport to get metal to the U.S. Midwest manufacturing hub is now a tariff premium, capturing the fracture of the global aluminium pricing structure. U.S. consumers of aluminium goods will ultimately foot the bill but mid-stream processors are likely to do well. Fabricators converting raw metal to semi-finished goods such as can sheet were the prime beneficiaries of the first Trump administration's 10% tariffs, according to a report by consultancy Harbor Aluminum commissioned by the Beer Institute. Mid-stream processors passed on the tariff, even if the raw material was domestically sourced scrap, Harbor found. The new tariffs will incentivise fabricators not only to maximise their domestic purchases of scrap but to tap overseas markets, where U.S. buyers can now outbid just about anyone else for available material. U.S. imports of aluminium recyclable materials jumped to over 80,000 tons in March, the highest monthly volume since 2022. There were sharp increases in supply from Canada and Mexico, the two largest and nearest suppliers to the U.S. market. However, the tariff differential has started to draw material out of Europe, according to the European Aluminium association. Exports from EU countries to the United States spiked in the first quarter of the year, it said. They are only going to accelerate as the transatlantic price gap widens after this week's doubling of tariffs. The EU is facing a "full-blown scrap crisis", according to the association. Director General Paul Voss called on the European Commission to immediately impose a corresponding duty on scrap exports to the United States. The Commission has already identified high aluminium scrap exports as a key hurdle in its ambition to meet the bloc's "Circular Economy" targets. A March "Action Plan", opens new tab for both the aluminium and steel sectors promised a decision by the third quarter of this year on suitable trade measures, including reciprocal export tariffs on countries "that apply unfair subsidies" to their recycling industries. There's now a sense of urgency that some sort of defensive trade barrier will be required to stem export flows. Aluminium scrap is a highly globalised marketplace but that looks set to change as Europe figures out how to stop the loss of raw material to the United States. Caught in the middle of this tug-of-war is China, the world's largest aluminium scrap buyer. The country has imported 1.8 million tons in each of the last two years and although it sources much of its material from Asia, it is a significant buyer of both U.S. and European end-of-life scrap. Beijing last year relaxed the purity rules on imports of both copper and aluminium scrap to encourage greater domestic recycling. This is particularly important for China's aluminium sector, where production of primary metal is now close to the government's mandated capacity cap, meaning supply growth will have to come from recycling. Chinese buyers are facing the twin challenge of export restrictions in Europe and competition with U.S. players in their own Asian supply chain. The scrap wars have only just begun. The opinions expressed here are those of the author, a columnist for Reuters. Enjoying this column? Check out Reuters Open Interest (ROI), your essential new source for global financial commentary. ROI delivers thought-provoking, data-driven analysis of everything from swap rates to soybeans. Markets are moving faster than ever. ROI can help you keep up. Follow ROI on LinkedIn, opens new tab and X, opens new tab.
