British brands are back in vogue despite gloomy economic outlook
Epitomising the return of Cool Britannia were the Lionesses, with the England football team in Marks & Spencer tailoring, draped with national flags on their victory bus.
Florals are one quintessential strain of Britishness seen in Laura Ashley's womenswear, its furniture and homeware. It was acquired this year by US firm Marquee Brands, whose portfolio includes the Martha Stewart lifestyle business.
Poppy Marshall-Lawton, who is leading Laura Ashley's revival, said: 'British brands that dial into and stay true to their roots cut through the noise. The global appetite is very strong and, if you can lean into this unique identity, you can really connect with a new generation of customers.'
Another beneficiary is Burberry. Shares in the brand are up almost 60 per cent over the past three months.
Its turnaround is focused on iconic products such as trench coats – and bucket hats. These are back in vogue thanks to Oasis, whose concerts have reignited the popularity of this Cool Britannia streetwear accessory.
Steve Fine, head of stockbroker Peel Hunt, said UK firms were seen as bargains by US investors because 'our domestic self-esteem is quite low'. He called for Britons to 'gain confidence, the political situation notwithstanding'.
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The Guardian
43 minutes ago
- The Guardian
Frustrated Crystal Palace count cost after Cas upholds Europa League ban
The news Steve Parish was dreading arrived less than 24 hours after he basked in the glory of watching Crystal Palace win their second trophy in three months. Parish had been confident the club's appeal against their demotion from the Europa League would succeed as he discussed their prospects in the bowels of Wembley stadium after the Community Shield victory against Liverpool on Sunday. 'I really am, even more after Friday,' the club chair said. 'I don't understand that we cannot be in the competition. I really can't. But it's up to the judges to decide. We trust them and that they listened to everything we said so let's see.' Confirmation from the court of arbitration for sport that it had upheld the decision made by Uefa's club financial control body to punish Palace for breaching its multi-club ownership rules has brought Parish and the team's supporters back to earth. The Cas statement made clear the role of John Textor, the American businessman who last month sold his 43% stake in Palace to the New York Jets owner, Woody Johnson, was decisive. Textor has admitted that seconds after Palace's victory against Manchester City in May's FA Cup final that he feared for the worst regarding participation in the Europa League, given that he owns Lyon, who also qualified. The Cas panel – consisting of a Dutch former striker, a Swiss former fencer who competed in the 1984 Olympics and an Italian professor – backed Uefa's findings that Textor 'was a board member with decisive influence over both clubs at the time of Uefa's assessment date'. It also dismissed Palace's argument that they had received unfair treatment compared to Nottingham Forest and Lyon, and said missing the 1 March deadline for Textor to place his shares into a blind trust had been crucial. Textor has been the target of most Palace fans' frustration, although several have also taken aim at the Nottingham Forest owner, Evangelos Marinakis. Forest, who are poised to take Palace's Europa League place, wrote to Uefa a few weeks after the FA Cup final expressing concern that Palace may have contravened multi-club ownership regulations. Parish suggested last month in an interview with Gary Lineker that their Premier League rivals had played a role in the decision to ban them. 'We were told that and I think it's been made public,' he said. 'These things seem to be played out in public. There doesn't seem to be a lot of confidentiality that comes out of certain organisations. But we're led to believe that that's the issue – if there wasn't somebody that wanted to get in as a consequence, then there wouldn't be a problem. 'People have got to look at themselves. Some people will say it's fine, some people will say it's not. I don't really have control of that. I only have control of the arguments that we put forward to Uefa.' Forest declined to comment on Parish's remarks at the time. Palace's case is believed to have included evidence that only members of the European Club Association were informed Uefa's 1 March deadline for complying with multi-club rules could be extended until 31 May – a fact that enabled Marinakis to place Forest into a blind trust when it seemed they might qualify for the Champions League along with his Greek club, Olympiakos. Palace are also understood to have highlighted the burgeoning friendship between Marinakis and Textor. The American denies that had any bearing on his conduct and described as untrue reports he is planning to incorporate his Brazilian club Botafogo into the Greek shipping magnate's network of clubs. Forest sent a legal delegation to the Cas hearing to argue their case and they have been silent since Palace were demoted by Uefa last month. Marinakis has resumed control of shares in the two-time European champions after they finished seventh in the Premier League. Sign up to Football Daily Kick off your evenings with the Guardian's take on the world of football after newsletter promotion Their supporters can look forward to the Europa League's league stage while Palace prepare for a Conference League playoff against the losers of the Europa League qualifier between Norway's Fredrikstad and Midtjylland of Denmark. Midtjylland lead 3-1 going into their home leg on Thursday. It is estimated demotion will cost Palace up to £20m in lost revenue, given the Conference League's league stage has two fewer games than the Europa League's, although Oliver Glasner will fancy his chances of winning a competition that has had two English winners in its first four editions. The chance for Palace to play in Europe for the first time since a short-lived Intertoto Cup experience in 1998, when they qualified after being the only English team to apply for entry, will be consolation for a club that also missed out in 1991 when they finished third in the old First Division. Only the top two went into Europe via league position.
Telegraph
44 minutes ago
- Telegraph
HMRC uses AI to spy on social media posts
HMRC has admitted for the first time that it uses artificial intelligence (AI) to spy on taxpayers' social media posts. The tax authority examines workers' financial records, spending habits and tax returns to look for evidence of cheating – as well as posts on the internet. Social media posts about a large purchase or expensive holiday could trigger a red flag if the user seems to be spending beyond their means. A spokesman insisted the tools were only deployed for social media monitoring in criminal investigations with 'robust safeguards in place'. It is understood this has been the case for a number of years, and that all uses of the controversial technology by the tax office are within the law. However, advances in AI are likely to raise concerns about whether HMRC could in future deploy the technology more widely. Bob Blackman, a senior Conservative MP, said: 'If they suddenly start taking legal action against individuals based on that, it seems draconian and very challenging – to put it mildly. 'You've got to have a check and balance. The risk is that AI gets it wrong and someone is pilloried – it seems a bit strange if they start doing that with AI. Without a human check, you can see there's going to be a problem.' The tools used to examine social media in criminal cases exist alongside Connect, a separate IT system used by HMRC to examine financial data for routine tax investigation. The Connect system was first developed over a decade ago, but is thought to be increasingly important as HMRC tries to save money by relying less on human beings to carry out its investigations. It uses billions of data points – including information to spot signs of tax evasion. Rachel Reeves is hoping to make up £7bn of the £47bn 'tax gap' by identifying those who have not paid enough into the national purse. Improvements to the AI software could hold the key to achieving this, after officials last month unveiled plans envisioning its use in 'everyday' tax processes at HMRC. In a 63-page document, HMRC said its staff will use AI to identify suspected tax evaders and send out 'automated nudges' asking them to pay what they owe. The report suggests use of AI within HMRC will become increasingly widespread, with staff currently using chatbots to summarise calls with customers and perform basic administrative tasks. Risks of 'Horizon Post Office-type scandal' The groundwork for the embrace of AI technology appears to have been laid in May, when Labour changed the department's privacy policy. A statement that appears to have been removed said: 'HMRC's use of AI does not replace human judgement when collecting taxes or determining benefits, and our customer services processes always involve human agents.' It now states: 'Where the use of AI could impact customer outcomes, HMRC makes sure that the results are explainable, there is human involvement [and] we are compliant with our data protection, security, and ethical standards.' Senior MPs raised concerns that troves of personal data could be used to make important tax decisions without human judgement – possibly leading to errors. Sir John Hayes, a former security minister and chairman of the Common Sense Group of Tory MPs, said: 'Where confidential or sensitive material is concerned, people need to be assured that human beings with experience, common sense and judgement are making decisions. 'Automated processes remove human interactions. I would be very concerned that we will end up with a Horizon Post Office-type scandal.' Sir John, who has raised questions in Parliament about the use of AI by the HMRC, added: 'The idea that a machine must always be right is what led to the Post Office scandal. I am a huge AI sceptic.' Tax investigators already using AI Fears were raised that AI has already been handed key decision-making powers over people's tax affairs after a legal battle led to the tax office being ordered last week to reveal its use of the software. It came after tax advisors complained AI was used by HMRC when processing applications for tax reliefs that are available to certain businesses. Tom Elsbury, a tax expert, sent a Freedom of Information request in December 2023 to the tax office after he and colleagues concluded AI was used when assessing applications for tax credits by companies conducting research and development activities. HMRC refused to fulfil the request, and the decision was upheld by the information watchdog, but a First-tier Tribunal ruled on Friday that the Government must reveal whether it used AI by September 18. Ministers have insisted that there is always a human 'in the loop' when AI is used for decision-making in Whitehall, while HMRC stated humans will always have the 'final say' in matters that affect people. A similar project to expand AI uses is also being undertaken by the Department for Work and Pensions. It recently took part in a trial that saw 20,000 civil servants use AI technology for three months to draft documents and summarise meetings. A HMRC insider told The Telegraph that officials had asked a dozen tech companies to come up with ways AI could be used to tackle Britain's £46.8bn unpaid tax bill – which is thought to be mostly hidden in offshore bank accounts. AI 'assistants' Government sources said the main use of AI by the taxman was to create two 'assistants' to help the public fill in their tax returns and compliance officers to read them. The customer-facing tool is designed to warn users if they look likely to be submitting false information, based on patterns the system can spot in other users. If the AI tells a user that their return may be wrong, then it could serve as an official warning by HMRC, and lead to a faster crackdown by the authorities if they are later found to have lied, sources said. Compliance officers working at HMRC have also been given AI assistants that they use to sift through data, which ministers think will make the department faster and more efficient at spotting potential tax evasion. However, one source acknowledged that AI tools can make mistakes, and that the Government's new system could introduce errors. A HMRC spokesman said: 'Use of AI for social media monitoring is restricted to criminal investigations and subject to legal oversight. AI supports our processes but – like all effective use of this new technology – it has robust safeguards in place and does not replace human decision-making. 'Greater use of AI will enable our staff to spend less time on admin and more time helping taxpayers, as well as better target fraud and evasion to bring in more money for public services.'
The Sun
an hour ago
- The Sun
Urgent warning issued over ‘very convincing' web scams as shoppers conned out of £100s
SHOPPERS have been warned to look out for "very convincing" web scams that are conning people out of hundreds of pounds. There has been a recent rise in criminals creating fake websites for well-known brands, experts say, and many scammers are using AI to help them. 1 Costco is one of the retailers that has recently been targeted by these criminals, with the wholesale business warning customers to be vigilant when shopping online. Dozens of reviews have appeared on Trustpilot in recent weeks from Costco shoppers who paid for orders but never received them, with some claiming to have bought items costing hundreds of pounds. Costco responded to several customers on the review site, writing: "We were unable to locate an order with the details provided and suspect that the purchase may have been made through a fraudulent website posing as Costco. "Unfortunately, there has been a recent increase in fraudulent websites impersonating Costco." In another Trustpilot response to a customer who had fallen for the scam, it urged shoppers to "check the URL which is displayed when shopping online". It added: "Our site displays at the beginning of the web address." Some Costco shoppers may have lost hundreds of pounds to the scam. In one review, a customer claims they bought a Bosch router table, which are on sale for up to £500 from some online retailers, but had not received it. Costco responded saying their order could not be found and it was likely bought through a fake website. Another customer said they ordered a keter Manor outdoor shed, which retails for over £200 on the high street, and were told by Costco they had likely been scammed. Avoid being ripped off by car hire companies with these four top tips It's not just Costco that has been targeted by fake websites - experts told The Sun that the scam is on the rise. 'Criminals are increasingly creating convincing looking websites that mimic well known retailer that lure shoppers in with seemingly genuine branding and tempting offers," said Jake Moore, global security adviser at ESET. "These sites often harvest lots of personal and payment information or take money without delivering goods." He said they're also becoming "incredibly easy to make" with the use of AI, as it means scammers no longer need to know how to code to create fake websites. "The end results are often near perfect copies too," he said. Starling Bank financial crime specialist Sarah Lenette adds: With the rise of AI, scammers have everything they need to create very convincing retail sites in very little time, which include all of the correct branding, products and relevant offers and deals." One common way you can end up on a fake website is by clicking on a fake ad on social media platforms like Facebook, TikTok or Instagram. "Users then unknowingly find themselves on a site believing they are on the legitimate retailer," Jake says. It comes after a raft of fake Wilko websites offering huge discounts were set up by scammers after the retailer fell into administration in 2023. Cath Kidston and Joules have also been targeted by the scams. How to spot a fake website While scammers have become more sophisticated, there are several ways you can keep an eye out for fake websites when shopping online. Which? Consumer Expert Rob Lilley-Jones says you should avoid any deals that seem "too good to be true" - as they usually are. "Another tell-tale sign of a scam website will be poor spelling and bad grammar," he adds. Look out for any websites that don't have a physical address and a phone number and email address to contact them. "If they don't, it's a red flag," Rob says. He also suggests using a domain checker like to see when the website was set up. "If it's recent, and the company claims to be a well-known one like Costco, it's a scam," he says. Sarah Lenette adds that you should be wary of any URLs for UK retailers that end in .org or .net. You should also avoid clicking on social media ads that you're unsure about, she says. "Always search for the retailer on a search engine and head to them independently, as well as checking for independent reviews on sites such as TrustPilot," she says. Costco was contacted by The Sun but declined to comment.
