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London-based stylist Tallulah Harlech, 36, has tried everything to soothe the guttate psoriasis that has plagued her since the age of nine: steroids, elimination diets, acupuncture, cryotherapy, fresh kale from her mother’s Shropshire garden – even, she jokes, “witchcraft”. Eventually, she resorted to cotton tracksuits to keep irritation at bay. But, given her career spent attending fashion events and creating luxury campaigns, althleisurewear could only take her so far.
I wanted to achieve something that gave cover and camouflage to the skin, that sits within the world of affordable luxury
Later this month, Harlech launches Sylva, a “skin-first” line of eco-friendly apparel that draws on skin compatibility research conducted by Lenzing, which produces ecologically responsible fibres. “I wanted to achieve something that was simple, that gave cover and camouflage to the skin, but also sits within the world of affordable luxury,” she says. Having consulted slow-fashion guru Phoebe English, Harlech was gratified to discover that sustainable materials could also be better for sensitive skin. Seaweed, for example, has anti-bacterial properties while eucalyptus cellulose – both moisture-wicking and anti-bacterial – has proven to be more compatible with human skin cells than 100 per cent cotton, and up to four times softer.
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The first drop, which comprises a Margiela-esque inky black barrier top, leggings and floor-length dress (from £275), is made from an innovative blend of 65 per cent eucalyptus cellulose (a biodegradable carbohydrate found in plants), 28 per cent seaweed (sustainably harvested from Iceland) and seven per cent elastane (necessary for rebound). Harlech is working with Pyratex, a Spanish specialist in biobased and recycled fabrics, to produce the collection. The packaging and swing tags are fully recyclable, while in lieu of obvious branding labels, which are often synthetic, Harlech has opted for distinctive stitching. The pieces can be worn on their own or as base layers for further embellishment – just add a smart Loewe coat, say, or a pair of sparkly Manolos – and will initially be sold on Sylva’s website.
So what next? “Certainly the big thing for Sylva is to move into the collaborative lifestyle space,” Harlech muses. Could it extend as far as a wellness supplement? “Dot dot dot.”
St James’s Place (SJP) has appointed Adam Higgs to the newly created role of head of protection.
He will help shape SJP’s protection proposition strategy, with a focus on driving innovation, enhancing customer value and managing end-to-end delivery of projects.
Higgs was formerly at Protection Guru, founded by Ian McKenna, joining when it was a start-up and rising to head of product.
He was also head of research – adviser services at the Financial Technology Research Centre (FTRC) and has held previous roles at both Foster Denovo and Scottish Life.
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In his new role at SJP, Higgs will help raise the profile of protection within the wider business and support the planning of SJP advisers.
SJP divisional director, development and technical consultancy Tony Müdd said: “We are delighted that Adam has decided to join St James’s Place.
“His reputation within the protection industry is one of unparalleled knowledge from both a provider and distribution perspective, and we look forward to him helping us build upon the foundations we have built over the last few years.”
Higgs added: “I have been a huge admirer of St James’s Place for a long time and followed their protection proposition closely.
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“In a short period of time they have built, in my opinion, the best in-house ‘write it or refer it’ proposition in the market. Using these capabilities, SJP has some ambitious growth targets for their protection business.
“I am excited to work with the team and insurers to realise these and make sure that, regardless of whether a partner wants to do it themselves or utilise the planning protection team, every client gets the protection they need.”
AN airport on an overlooked Greek island is being transformed – making it much easier to get to.
Paros is found between Santorini and Mykonos, although has far fewer tourists visit.
Just 200,000 tourists visit a year – compared to Santorini’s two million – with the easiest way to visit via a 40-minute flight from Athens.
But the airport is undergoing a huge €41million (£34million) renovation.
A new terminal is being added, to cope with the increasing popularity of the island.
Inside will be four gate lounges, as well as seven check in counters, duty free shops and food and drink.
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The new Terminal of Paros Airport was planned by the Hellenic Civil Aviation Authority as a response to the steadily increasing popularity of the Aegean Island.
Hellenic Aviation Service Provider (HASP) Governor George Saounatsos said the new terminal will be “17 times larger” than the current one, according to local media.
He said: “The functional and modern design of the new terminal will position Paros as a leading destination for tourist arrivals through the airport.
“Passengers will benefit from a significantly enhanced travel experience thanks to the upgraded infrastructure.”
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The runway is also being extended with from 1,400m to 1,800m, meaning it can take on larger aircraft, along with the on-site car park.
A new state-of-the-art control tower and new 12,500sqm passenger hall are also being added.
How to do two Greek islands in one holiday – with stunning private-pool rooms
The works, which were first announced in 2020, hoped to be finished by 2023.
This was later delayed, with most of the phases to now be finished by 2026.
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While it hasn’t been confirmed which airlines this could include, there are hopes it will encourage international flights.
The Paros municipality said: “We are certain that the airport’s upgrade – with the necessary staff and equipment – will spur the interest of more airlines”.
If you fancy visiting Paros, it was recently named one of the top trending destinations for 2025 by American Express.
While the easiest way to visit is a flight from Athens, you can also visit on day trips from Mykonos or Santorini by boat.
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Its much more affordable too, with cheaper hotels and typical spends around £100 lower than Santorini.
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Prada scion Lorenzo Bertelli was in his element alongside top executives from Axiom Space during the International Astronautical Congress in Milan on Wednesday, as the Italian fashion group and the US aerospace start-up unveiled the spacesuits that will take astronauts to the moon on Nasa’s upcoming Artemis III mission.
The not-very-fashionable but highly engineered 200kg-plus gender-neutral white extravehicular mobility unit spacesuit comes with grey knee and elbow padding and a sizing scheme that is expected to accommodate a wide range of body shapes.
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For Bertelli, a former race car driver, space is the next frontier. He cites the £1bn investment that Prada has made over two decades in research and engineering for its competitive sailing team Luna Rossa and its apparel line Linea Rossa. “We launched Luna Rossa and then decided to compete in the America’s Cup because we wanted a new challenge. Then came the Linea Rossa line because we needed to equip sailors with the best attire possible,” he explains. “It starts with a vision . . . then we figure things out.”
Prada’s latest collaboration with Axiom Space, which is in the race to build the first commercial space station, is uncharted territory for fashion houses. Though Bertelli’s mother Miuccia Prada’s latest collection is characterised by futuristic elements, the spacesuit endeavour has taken the group’s experimental nature to the next level.
We sell bags which enable us to invest in projects like this
Bertelli believes the research and technical expertise the group is acquiring through its work for the Artemis III mission will give Prada a competitive edge once commercial trips to space become more widely available. “I know anyone can go to space today, the problem is that the price ticket is too high,” says Bertelli. “Once the sector scales up, the price will go down and there will be a huge opportunity.”
Axiom Space president Matt Ondler adds that the partnership had “set a new foundational model for cross-industry collaboration, further expanding what’s possible in commercial space”.
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The red stripes on the spacesuit are an echo of the sailors’ Linea Rossa logo. They have also been a regular fixture of Nasa’s spacesuits since Apollo 13 as a way to identify the missions’ commanders in photos and videos from space.
Following the pandemic, Bertelli reached out to Axiom, which was only a few years old, and made a bid for the Nasa contract. Russell Ralston, the executive vice-president for extravehicular activity for Axiom Space, was caught by surprise but then, he says, he realised the partnership had a “high potential”.
Prada’s expertise in high-performance materials, production and fibre blending contributed to the development of the spacesuits’ outer layer. Its design and product team also worked with Axiom’s engineers on customised features that would protect astronauts against the rough lunar environment while also enhancing movement.
Features of the inner layer include thermoregulation, an in-suit nutrition system, biometric monitoring, a regenerable CO₂ scrubbing system and a variable suit pressure device. The boots, which Ralston says were the most challenging part of the suit to develop, are engineered to withstand both extremely high and extremely low temperatures.
As Nasa sets out to find water in the craters of the moon’s south pole, where the surface’s temperature can vary from freezing cold to several hundred degrees above zero Celsius, astronauts will be able to spacewalk for eight hours in the Axiom-Prada spacesuits.
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Minor tweaks to the current design are to be expected before the mission launches — “It has already changed a lot since we unveiled the prototype two years ago,” says Ralston — but executives from both companies tout the “excellent” balance they have been able to strike between mobility, performance and endurance.
Prada’s long-term objective is to participate in the development of the space suits’ internal layer too, by leveraging its sailboat engineering expertise (competitive sailboats are specially built to be resistant but light, for example).
For now, Bertelli says he’s proud that the group “has pushed beyond its limits”. He continues: “I don’t know if this will end up being strategic for Prada. For now we sell bags which enable us to invest in projects like this, but one day when going to space will be [common], we will be able [to dress space tourists] thanks to the knowledge we are building.”
Bear in mind, refund policies vary depending on where you’ve bought an item from.
Under usual refund policies, where you have a receipt, most retailers will offer you a full refund – on card if that’s how you paid, or by cash.
Where you’ve got a gift receipt, you’ll usually be offered a gift card.
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Where returns are made after the goodwill period, but before the Christmas returns period ends, gift cards or exchanges for something else are more common.
Whether you’ve bought items online or in-store can also have an impact on how you’re refunded.
Below, we round up what some of the bigger UK retailers are offering customers this year.
John Lewis
John Lewis said it has extended its usual time window for returns for the festive season.
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The posh retailer said any gift bought between September 26 and December 24 can be returned up until January 23, 2025 if it is unwanted.
8 tips to extend the life of your Christmas tree
Shoppers will need to bring a valid receipt with them to get the refund.
Sainsbury’s and Argos
Sainsbury’s and Argos, which is owned by Sainbury’s, is also extending its return window over the Christmas period.
Any items purchased from September 27 to December 25 can be returned right up until the end of January 31, 2025.
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New Look
Fashion retailer New Look is offering shoppers an extended returns window on any products bought in-store or online.
Any items bought between October 28 and December 8 can be returned until the end of January 5.
For any sale products bought in-store or online, New Look’s standard 14-day return policy will apply.
Meanwhile, any sale items bought in-store are exchange-only.
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This means shoppers can only return an item and replace it with another item.
M&S
M&S has boosted the length of time shoppers can return any unwanted products over the Christmas period.
Any purchases made online or in-store between October 10 and December 24 can be returned up until January 26, 2025.
For any purchases made from December 25 onwards, M&S’ normal refund policy will apply.
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M&S said the tweaked Christmas returns policy does not apply to sale items.
Tesco
Tesco is extending its normal 30-day returns policy to any gifts purchased between October 1 and December 24.
Any purchases made between this period can be returned up until January 31, 2025.
The retailer said the extended policy applies to any products bought via Grocery Home Shopping and Marketplace.
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Primark
Primark said any items bought between October 15 and January 3, 2025, can be returned up until January 31, 2025.
The retailer said the returns date has been printed on all till receipts as a reminder to shoppers.
From January 3 next year, Primark will go back to its standard 28-day return and exchange policy.
B&M
Bargain discounter B&M said customers buying any Christmas item in-store from November 3 have until January 31, 2025 to return it.
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The retailer said proof of purchase, like a receipt, will need to be provided.
Lidl
German discounter Lidl said any non-food products bought from November 4 can be returned up until January 6, 2025.
After January 6, its standard 30-day returns policy will apply.
How to save money on Christmas shopping
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Consumer reporter Sam Walker reveals how you can save money on your Christmas shopping.
Limit the amount of presents – buying presents for all your family and friends can cost a bomb.
Instead, why not organise a Secret Santa between your inner circles so you’re not having to buy multiple presents.
Plan ahead – if you’ve got the stamina and budget, it’s worth buying your Christmas presents for the following year in the January sales.
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Make sure you shop around for the best deals by using price comparison sites so you’re not forking out more than you should though.
Buy in Boxing Day sales – some retailers start their main Christmas sales early so you can actually snap up a bargain before December 25.
Delivery may cost you a bit more, but it can be worth it if the savings are decent.
Shop via outlet stores – you can save loads of money shopping via outlet stores like Amazon Warehouse or Office Offcuts.
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They work by selling returned or slightly damaged products at a discounted rate, but usually any wear and tear is minor.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk.
After a weekslong rally that saw shares of Trump Media & Technology Group (DJT) roughly triple in value, the stock took an 8% nosedive Tuesday afternoon.
Shares of the company behind former President Donald Trump’s right-wing social media platform Truth Social fell to $26.60 apiece after having been up roughly 10% that morning. Tuesday’s volatility led to the Nasdaq briefly halting trading.
The company’s stock has fluctuated wildly in value in the nearly seven months since it went public under the ticker DJT. Late last month, shares dropped as low as $12.15 each. Since Oct. 1, however, Trump Media shares are up 70%.
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This see-sawing comes just weeks before the presidential election, which will see Trump face off against Democratic presidential candidate and Vice President Kamala Harris at the ballot box.
Trump is a majority shareholder of Trump Media, holding roughly 57% of the company’s stock — and he has said he has no plans to let go of his holdings. The stock’s recent rally has added some $2 billion to Trump’s net worth.
Trump Media has been widely considered a “meme stock” or “affinity stock,” with shares trading largely on sentiment about the former president by retail and individual investors, regardless of the company’s actual operating results or prospects.
“It’s purchasing his brand,” John Rekenthaler, vice president of research at Morningstar (MORN), previously told Quartz. He warned that the company’s stock could “go to zero” or close to it if Trump loses the coming election.
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Trump Media has said in regulatory filings that its “success depends in part on the popularity of its brand and the reputation and popularity” of Trump and that “adverse reactions to publicity relating to [Trump], or the loss of his services, could adversely affect TMTG’s revenues and results of operations.”
Shares of memory leader Micron(NASDAQ: MU), Applied Materials(NASDAQ: AMAT), and KLA Corporation (NASDAQ: KLAC) plunged on Tuesday, down 4.3%, 10.9%, and 15.5%, respectively, as of 3:28 p.m. ET.
Semiconductor stocks largely sold off across the board today after equipment leader ASML Holdings(NASDAQ: ASML) accidentally leaked its third-quarter results and outlook, which were supposed to be published tomorrow.
The results and guidance were highly disappointing, sending fears across the sector.
ASML disappoints on a “slower than expected” recovery
In the leaked press release, ASML showed 11.2% revenue growth and 9.1% earnings-per-share (EPS) growth, which aren’t terrible growth figures by any means, with the top line exceeding the company’s guidance last quarter.
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However, the bookings figure and outlook for 2025, also contained in the press release, were more worrisome. Net bookings, which reflect revenue plus or minus the change in orders in backlog, were only 2.6 billion euros (~$2.8 billion), far below expectations of 5.39 billion euros (~$5.87 billion).
Moreover, management gave preliminary revenue guidance for 2025 of between 30 billion and 35 billion euros (~$33 billion to $38 billion). While that still portends mid-teens growth above expected 2024 figures of 28 billion euros (~$30 billion), it was below the 36.3 billion euros (~$39.5 billion) analysts were expecting.
Management noted in the press release:
While there continue to be strong developments and upside potential in AI, other market segments are taking longer to recover. It now appears the recovery is more gradual than previously expected. This is expected to continue in 2025, which is leading to customer cautiousness.
ASML is likely referring to Intel, which has seen lower near-term demand, and Samsung, which has been beset by operational issues and is pushing out its fab expansions. ASML management also noted limited capacity additions for DRAM memory suppliers, as most are converting unused equipment for non-artificial intelligence (AI) memory to production lines for HBM and DDR-5 for AI.
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The semiconductor capital equipment sector is very linked. So, if a large fab is pushed out, not only will ASML see slower growth, but so will the etch and deposition equipment supplied by Applied Materials and the metrology and inspection equipment provided by KLA Corporation along with it. Thus, it’s no surprise to see each of those stocks sell off to ASML today by a similar amount.
Micron is also down, given that ASML indicated softer end-demand across non-AI markets. However, it may also be positive for Micron that memory rivals are scaling back their investments in memory capacity. Unlike that of advanced logic chips, memory pricing can fluctuate a lot based on supply and demand. So, the discipline to pull back investments could be a good thing for memory pricing. That’s likely why Micron’s stock is holding up better than the others.
The sell-off may be a good opportunity
This sell-off may be an opportunity for chip investors since the recovery in non-AI markets is very likely to happen at some point, even if a full recovery doesn’t happen as fast as some forecast. After all, the midpoint of ASML’s guidance still points to 16% growth next year. And pushing fab buildouts from 2025 to 2026 should entail more sustained growth beyond 2025.
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It seems that 2024 corporate budgets may have been dominated by expensive AI spending, crowding out refreshes of non-AI servers and PCs. However, this aging equipment will have to be refreshed eventually, especially since Windows 10 support will be phased out in October 2025. Furthermore, as more AI-enabled devices come to market, that should be a boon for chip content across all devices in PCs, smartphones, and auto markets that are still lagging today.
So, for those investors with a long-term view, this sell-off based on the medium-term outlook may be an opportunity to pick up high-quality semiconductor names, such as these three, for the long haul.
Don’t miss this second chance at a potentially lucrative opportunity
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Billy Duberstein and/or his clients have positions in ASML, Applied Materials, Intel, KLA, and Micron Technology. The Motley Fool has positions in and recommends ASML and Applied Materials. The Motley Fool recommends Intel and recommends the following options: short November 2024 $24 calls on Intel. The Motley Fool has a disclosure policy.
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