• CLOTHING
    East Africa’s used-clothes trade comes under fire

    GIKOMBA market, just north of Nairobi’s downtown, is a place to buy just about anything. At its entrance, where ragged minibuses push their way through rutted red mud, stalls sell piles of pillows, plastic toys, cutlery and soap. But the most common wares are second-hand clothing. Piles of old T-shirts and jeans; winter jackets, incongruous […]

  • CLOTHING
    An Israeli fashion reporter’s journey to the dark side of the clothing industry

    Jobless masses who once worked in developing countries’ textile industries, unmitigated waste and severe damage to the environment are among the destruction wreaked by the global fashion industry. A conversation with fashion reporter-turned-sustainability vigilante Michal Arbel-Levy. read more: http://www.haaretz.com/life/.premium-1.712038Michal Arbel-Levy, you were fashion reporter for the mass-circulation newspaper Yedioth Ahronoth for four years. What made […]

  • CLOTHING
    This Women’s Clothing Brand Is Made For Professional Women Who Hate To Shop

    ELIZABETH SEGRAN 03.31.16 6:06 AM “I’m so sick of the stereotype that all women are shopping-obsessed,” Sarah LaFleur, the 32-year-old cofounder of the workwear brand MM.LaFleur, tells Fast Company. After college, LaFleur spent several years working in management consulting and private equity, where she needed a rotation of crisp, smart work clothes. But she had […]

  • NEWS
    Standard Chartered posts loss as loan impairments hit new high

    CEO Bill Winters is attempting to unwind the damage caused by predecessor Peter Sands’ revenue-led expansion across emerging markets, which left the bank riddled with bad loans when commodity market crashed and growth stalled from China to India. Photo: Reuters London: Standard Chartered Plc reported a surprise full-year loss as loan impairments almost doubled to […]

  • NEWS
    HSBC facing probe for ‘abetting’ tax evasion

    Globally, HSBC reported a pre-tax loss of $858 million in 2015 compared with a profit of $1.73 billion in 2014. Photo: AP Mumbai: While declaring its earnings for the year ended December 2015, international lender HSBC Holdings Plc on Monday said it continues to face a tax inquiry in India for allegedly abetting tax evasion. […]

  • NEWS
    Standard Chartered’s India losses at $981 million

    Overall, the lender’s loan impairment surged to $4 billion in 2015 from $2.14 billion in 2014. Photo: Pradeep Gaur/Mint Standard Chartered Plc. on Tuesday reported a loss of $981 million from its India operations as loan impairments, including restructured loans, across its India portfolio surged almost eightfold to $1.3 billion in 2015 from $171 million […]

  • ALL DEALS
    AirAsia India loss narrows to Rs25 crore in Q3

    Photo: Mint Mumbai: Losses at AirAsia India narrowed to Rs.25.65 crore in the December quarter from Rs.61.15 crore in the preceding three months on the back of an increase in average fares and ancillary revenue, the local unit of Malaysia’s AirAsia Bhd said on Friday. AirAsia India is a joint venture in which AirAsia Bhd […]

  • NEWS
    Berkshire reports record full-year profit of $24.08 billion

    Warren Buffett, who is backing Democratic candidate Hillary Clinton, raised a political issue dear to Democrats in his widely-read letter by calling climate change a ‘major problem for the planet’. Photo: Bloomberg Warren Buffett on Saturday used his annual letter to Berkshire Hathaway Inc shareholders to launch vigorous defence of an aggressive private equity partner […]

  • NEWS
    LIC’s profit seen slumping as choppy markets take a toll

    Photo: Rituparna Banerjee/Mint Mumbai: Life Insurance Corp. of India (LIC) is expected to post a year-on-year decline of 40% in profit-booking on equity investments in 2015-16, as choppy markets take their toll on the country’s largest investor. LIC is expected to book a profit of Rs.15,000 crore on equities in the year to 31 March, […]

  • ALL DEALS
    Sectoral outlook: aviation

    Photo: Abhijit Bhatlekar/Mint Airlines in India are likely to face headwinds in profitability in 2016-17 in the face of rising risks from increasing capacity, pricing pressure and possible cost increases, according to a consultancy firm Capa India. Though the aviation firms will be largely profitable, the pressure on yields is expected to be over 5% […]

  • NEWS
    Essar Steel says ‘worst times’ over, March a turnaround quarter

    A file photo of Essar Steel’s Hazira facility. Hazira (Gujarat): Contrary to market perceptions over its financial and operational performance, Essar Steel India feels its “worst times” are over and is on its way to post a turnaround in the March quarter. Optimistic of its financial situation, the Mumbai-based company said it has already paid […]