Category: Business
Japanese startup develops bug-repellent clothing
NAGOYA –
A startup in central Japan has been working on developing bug-repellent fabrics and clothing, with hopes of bringing finalized products to market by the end of March next year.
The company, Fibercraze, teamed up with firms across the country to develop textiles with microscopic holes that can be injected with chemicals. The goal is to utilize the technology for a wide range of purposes, from outdoor pursuits to nursing care.
While many fabrics tend to become less durable when punctured or torn, Fibercraze has developed a product that maintains its strength by reducing the pores within the material to a width narrower than a hair.
The firm has also been working on manufacturing fabrics that maintain their texture with improved chemical efficacy.
The company’s president, Shunya Chosokabe, began researching punctured fabrics in his fourth year at Gifu University, where the technology has been studied for over 20 years.
“I thought I would be able to add value to the world by commercializing this technology,” said the 26-year-old, who founded the business in September 2021.
Chosokabe said he hopes to incorporate the “cutting-edge technology” with other products developed by high-tech manufacturers.
Putin’s economic challenges are numerous — but surmountable — as election looms
MOSCOW –
Russia’s success in evading a Western oil price cap is helping drive a recovery in economic growth as President Vladimir Putin prepares to run for re-election, despite the problems caused by labor shortages, inflation and high interest rates.Russia’s parliament has formally set next year’s presidential election date for March 17. Putin, who on Thursday said the economy was set to grow 3.5% this year, on Friday said he would run again, a move that could keep him in power until at least 2030.Russia’s export-focused, $2.2-trillion economy has ridden the sanctions wave better than either Moscow or the West anticipated when those opposed to the February 2022 invasion of Ukraine sought to punish and isolate Putin’s Russia.
EU strikes deal to regulate AI tech in landmark act
The European Union reached a hard-fought deal on what is poised to become the most comprehensive regulation of artificial intelligence in the Western world. Thierry Breton, the bloc’s internal market chief, said the deal strikes a balance between fostering innovation and protecting the rights of people and companies. “We spent a lot of time on finding the right balance between making the most of AI potential to support law enforcement while protecting our citizens’ fundamental rights,” he said early Saturday in a statement. “We do not want any mass surveillance in Europe.”
Leon sales jump in 2022 as auditor KPMG resigns
Leon, which is known for its wraps, vegan burgers, rice boxes and waffle fries, told the Standard its chargrilled chicken burger has been its best-selling menu option, while the firm’s app & loyalty scheme have seen users consistently increase month on month since its 2022 launch.
Investors hope for news to boost under-pressure Currys shares
The problem this time was brutal competition on the Nordic markets, where profits collapsed, although the ongoing normalisation in consumer spending on technology and gadgets in the wake of the pandemic posed a further challengeRuss Mould and Danni Hewson, AJ Bell
Secret WWII tunnels set to surface on London stock market
The Kingsway Exchange tunnels, an expanse of 8,000 sq m of passageways several hundred feet below High Holborn, were shrouded in mystery for most of the 20th century with details covered by the government’s Official Secrets Act, because of their wartime role as a base for MI6 officials.
Public thinks inflation will still be too high in late 2028, Bank of England survey reveals
But the public still thought the Bank has raised interest rates too high. When asked what would be “best for the economy”, 11% thought rates should ‘go up’, 40% of respondents thought that interest rates should ‘go down’, and 29% thought interest rates should ‘stay where they are’.
Competition watchdog to probe OpenAI’s Microsoft partnership
Brad Smith vice chair and president of Microsoft, said: “Since 2019, we’ve forged a partnership with OpenAI that has fostered more AI innovation and competition, while preserving independence for both companies. The only thing that has changed is that Microsoft will now have a non-voting observer on OpenAI’s Board, which is very different from an acquisition such as Google’s purchase of DeepMind in the UK. We will work closely with the CMA to provide all the information it needs.”
Average two-year fixed mortgage interest rate drops below 6% for first time in six months
James Hyde, spokesperson at Moneyfactscompare.co.uk, said: “Having peaked at 6.86% in late July, rates have been gently falling since early August due a combination of factors including falling inflation, base rate pauses, and reductions in swap rates.
Berkeley boss calls for ‘brownfield first’ planning reform to boost London house building
Anthony Codling, an analyst at RBC Europe, called the pledge “very, early Christmas present” for investors. “Berkeley, historically in a good market, makes money for shareholders, and in a bad market, it gives money back to shareholders,” he said.
