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Rishi Sunak plans 'Project Birch' for 'last resort' bailout of vital companies

RISHI SUNAK has authorised a bailout plan to rescue companies that are seen as strategically important, with the Treasury saying it may step in to support crucial businesses on a "last resort" basis after other options run out.

"In exceptional circumstances, where a viable company has exhausted all options and its failure would disproportionately harm the economy, we may consider support on a 'last resort' basis," a spokeswoman from the Treasury said on Sunday (24).


"We are putting in place sensible contingency planning and any such support would be on terms that protect the taxpayer."

Under the plan, which is named "Project Birch", the chancellor has raised the Treasury's capacity to handle bespoke bailouts of "viable" companies which have exhausted all options, including government loan schemes, the Financial Times reported on Sunday.

The newspaper also said the state could buy stakes in crucial businesses that were facing acute financial problems.

However, it added the Treasury will not initially look at taking equity stakes in companies that are struggling, with the preferred option being extension of loans.

Companies from across sectors -- including steel, aviation and aerospace -- are among those facing acute problems and the offer of the Treasury will apply across all sectors of the economy.

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Paris Modest Fashion Week turns the hijab from political debate into luxury fashion statement

It comes amid France’s long-running restrictions on religious clothing in public institutions

Instagram/ mashallenoor

Paris Modest Fashion Week turns the hijab from political debate into luxury fashion statement

Highlights

  • Paris hosted its first-ever Modest Fashion Week featuring nearly 30 global designers
  • The event spotlighted hijabs, burkinis, floral gowns and streetwear-inspired modest fashion
  • It comes amid France’s long-running restrictions on religious clothing in public institutions
  • The global modest fashion market is expected to exceed £320 billion next year

Paris has long positioned itself as the heart of global luxury fashion. It has also spent years at the centre of heated debates over religious clothing, with policies restricting visible religious symbols in schools and some public-sector roles.

That contradiction was hard to ignore this week as the French capital hosted its first-ever Modest Fashion Week, a runway event celebrating clothing often associated with Muslim women.

Held at Hôtel Le Marois near the Champs-Élysées, the showcase brought together nearly 30 designers from across the world, presenting collections built around loose silhouettes, headscarves and contemporary modest wear.

France banned conspicuous religious symbols, including headscarves, in state schools more than two decades ago. More recently, abayas were also prohibited in schools. Burkinis remain banned in most public swimming pools, though they are still permitted on beaches.

For designers, hosting the event in France carried symbolic weightInstagram/ mashallenoor

From florals to streetwear

The runway reflected how broad modest fashion has become.

Hicran Önal of Turkish label Miha showcased flowing floral dresses in shades of teal, blue and pink, describing romance as a major influence behind the collection. Aisa Hassan, founder of Australian brand Asiyam, opted for warmer greens and reds, while incorporating a bucket hat as a nod to her heritage.

French labels Soutoura and Nour Turbans leaned into oversized silhouettes and Gen Z-inspired streetwear, including one standout look that paired a beret with a headscarf.

Why Paris matters

For designers, hosting the event in France carried symbolic weight.

Fatou Doucouré, founder of Soutoura, said she had previously struggled with wearing a hijab in France and described showcasing her work in Paris as a proud moment. She said it reinforced the idea that women who wear headscarves can succeed in any field. Young attendees also described the event as a sign of a changing France, saying they felt less defined by their hijabs and more accepted in public spaces.


The event also reflected the growing commercial power of modest fashionInstagram/ mashallenoor

A growing global market

The event also reflected the growing commercial power of modest fashion. According to DinarStandard, global consumer spending in the sector is expected to surpass $400 billion (£320 billion) next year.

Paris may still be wrestling with debates around religious dress, but on this runway, modest fashion was framed less as controversy and more as creativity, commerce and visibility.

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