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Sunak to say more about hospitality support talks soon

Sunak to say more about hospitality support talks soon

BRITISH finance minister Rishi Sunak will talk soon about his discussions with representatives of the hospitality industry who are demanding more government support as the Omicron coronavirus variant hammers their sector, a government minister said.

"He was in calls with industry leaders last night and he will be saying more about this shortly," cabinet office minister Steve Barclay told BBC radio on Tuesday (21).


Figures from trade body UK Hospitality published on Monday (20) showed a 40 per cent fall in takings over the weekend and deep gloom about the prospects for New Year's Eve.

The industry has called for clarity on the government's plans to tackle the variant as well as financial support.

Prime minister Boris Johnson said on Monday (20) he was looking at all kinds of measures to keep Omicron under control, cautioning that further restrictions might be needed.

"As the prime minister has said, we reserve the possibility of further action but it's a question of looking at that data and weighing that against the other consequences of further restrictions," Barclay told the BBC when asked if further measures could be introduced before Christmas.

(Reuters)

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Shein takes over Everlane in surprise tie-up between fast fashion and ethical retail

  • Shein is acquiring Everlane, though financial terms were not disclosed.
  • Everlane says it will continue operating independently under its current leadership.
  • The deal comes as Everlane faces slowing sales and mounting debt pressures.

Fast-fashion giant Shein is buying Everlane, a brand that built its reputation on ethical sourcing, factory transparency and minimalist fashion basics, a pairing that is already raising eyebrows across the retail industry.

The deal, confirmed in a letter sent to Everlane employees by chief executive Alfred Chang, comes at a difficult moment for the California-based retailer, which has been struggling with slowing sales and rising debt in an increasingly crowded “affordable luxury” market.

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