‘We can create hype’: H&M’s UK boss on its commitment to the high street

Almost exactly 50 years after H&M opened its first British store, the doors on its newest, in Brighton, swung open this week and the Swedish fashion company’s UK boss is determined to keep investing in the nation’s high streets despite its struggles.In 1976, H&M opened in the brand-new Brent Cross shopping centre, the first American-style out of town mall to grace these shores. Its opening was such an event that the then Prince Charles attended.The Brighton store, which takes the H&M brand’s total in the UK to 197, is bristling with technology, including handheld scanners on self-service checkouts and a system that can find the exact location of a product in the shop, using radio-frequency tags. Shoppers can still simply try on a dress and buy it at a till – just as in 1976

‘Trumpflation’: how the Iran war’s economic storm could affect Britons

Here we go again. For Britons it has been a rollercoaster few years and just as better times seemed ahead the country has been plunged into a fresh cost of living crisis.The economic storm caused by war in the Middle East is already pushing up the cost of key household outgoings, including mortgage payments, energy bills and driving. There are warnings that the weekly shop will be next.We look at how the unfolding economic crisis caused by the war could affect you

Trump’s economic shocks are derailing Britain’s building plans

Donald Trump has done his best to crush the green shoots of the global, post-pandemic economic recovery – nowhere more so than in the UK.The US president’s vandalism can be seen across the economic landscape, especially in the property sector, which has become more sensitive to international events since the spread of Covid-19 disrupted long-established supply chains and sent the cost of raw materials soaring.What should be a strictly domestic consideration – what to build and where – has been shaped by the backwash from one geopolitical crisis after another, inducing a long period of stasis.The latest UK industry statistics come hot on the heels of Trump’s attack on Iran.The data provider Glenigan said last week the value of new projects had dropped by more than a third in the three months to the end of February

‘It’s stupid’: why western carmakers’ retreat from electric risks dooming them to irrelevance

Iran war should be wake-up call about costs of not going full throttle towards EVs as Chinese have done, experts sayBy the 1980s, Detroit’s once titanic carmakers were being upended by rivals from Japan. Ford, General Motors and Chrysler had grown rich selling gas guzzlers, but when oil prices rose and suddenly cheap, fuel-efficient Japanese models looked attractive, they were unprepared. The collapse in sales led to hundreds of thousands of job losses in the automotive heartland of the US.Now western car manufacturers are making what one former boss calls a similar “profound strategic mistake” as they pull back from electric vehicles (EVs) and refocus on the combustion engine just as oil prices are soaring once again. Experts say the industry’s future – and that of tens of millions of jobs – could be on the line

US interest in electric vehicles surges as gas prices jump amid Iran war

US car buyers are showing a surge in interest in electric vehicles after Donald Trump’s decision to attack Iran helped cause a major jump in gasoline prices.The cost to refuel a vehicle in the US is at its highest level in nearly three years, with the average national price of gas standing at $3.90 a gallon on Friday.This increase has been driven by the rising global cost of oil in the wake of the US and Israel’s bombing of Iran, a major oil producer. The conflict has resulted in the strait of Hormuz, a vital waterway that conveys around a fifth of the world’s oil, being shut off by Iran

‘It’s come at the wrong time’: how Iran war has floored the Gulf as a sports hub

The sight of Nasser al-Khelaifi grounded in Doha when Paris Saint Germain hosted Chelsea in the last-16 of the Champions League last week provided a symbolic illustration of the fragility of the Gulf’s sports project amid the conflict in the Middle East.Al-Khelaifi is the president of PSG, the chair of Qatar Sports Investments and, most crucially, the European Football Clubs, a lobby group that, along with Uefa, runs the Champions League. He is seen as the second-most powerful individual in world football, after the Fifa president, Gianni Infantino. Yet, with Qatari airspace closed, the 52-year-old was forced to miss his first PSG match for years.After watching PSG’s thrilling 5-2 victory in the first leg on the sports channel of the global TV network he also chairs, BeIN Media Group, Al-Khelaifi made it to London to watch Luis Enrique’s side inflict further misery on Chelsea with a 3-0 win in the second leg at Stamford Bridge on Tuesday