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Fashion and tradition: how John Smedley is innovating in a tough market

In the final article in a series on high-end British manufacturing we look at a clothing brand that dates to the 18th century but is increasingly on-trend Making jeans again: the Hiut Denim factory in Cardigan Rolls-Royce rides high on craze for customisation Luxury leather: from wallets to cigar cases Tina is wielding a large pair of scissors with authority, slicing with immense skill and precision. With 38 years of experience, she is an important member of the 230-strong manufacturing team producing fine knitwear for the John Smedley brand. Using a chalk, a semi-circular guide and a sharp pa

World

Binance users withdraw $3.4 billion after record crypto heist

Customers of cryptocurrency trading platform Binance withdrew some $3.4 billion of their funds on Sunday after Binance reopened trading. The company had suspended all operations after a cyberattack that compromised over $6 billion in digital assets. Also in this edition: the Wall Street Journal reports on a new US plan to restore Russian gas sales to Europe, and we look at Argentina's efforts to capitalise on Patagonia's wide open spaces to attract data centre investment.

World

Nine killed as business jet crashes into South Florida neighbourhood

A business jet plunged into a South Florida neighbourhood on Sunday, killing all nine people aboard and exploding into a fireball near homes and a busy road. The pilot had reported icing, precipitation and severe turbulence before the Learjet entered a steep dive, according to air traffic control recordings.

World

Binance resumes crypto withdrawals after major hack blamed on North Korea

Binance, the world’s biggest cryptocurrency exchange, on Sunday said it would resume withdrawals after a suspension due to a major hack, which the FBI has tied ​to North Korea. The exchange said it covered 95% of the $6.3 billion in tokens stolen from its platform in the world's largest digital heist.

Politics

French economy 'headed for a wall' as GDP shrinks, finance minister warns

France's economy unexpectedly shrank in the third quarter while inflation rose more than anticipated, piling pressure on the government ahead of further nationwide protests this weekend that are ​making it ‌more difficult to cut spending. Finance Minister Roland Lescure warned that the economy could be "headed for a wall" if parliament fails to approve a deficit-reducing budget soon.

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Politics

ECB chief Lagarde steps down in order to speak out

European Central Bank President Christine Lagarde will step down from her post several months early, in order to have more "freedom to engage on matters that are not monetary policy". The comments will fuel speculation about her future plans, ahead of a presidential election in her native France. The resignation also sparks a succession race, as Europe faces a turbulent fiscal future. Also in the show: oil giant TotalEnergies reports record profits as the EU warns on household energy bills.

World

France reclaims title as Europe's champion of tax and social charges

New data shows that France has the EU's highest tax burden at 46 percent of GDP, while its national debt continues to grow. Amid new street protests over lack of education funding and falling purchasing power, the government is proposing a meagre hike in the minimum wage. Also in this edition: US tech giants see their shares diverge as the AI boom pushes massive capital expenditures.

World

EU natural gas prices top €100 for first time since 2022

As winter approaches, the price of European natural gas has topped €100 per megawatt hour, its highest level since 2022. The EU says it's not worried about supplies, although its storage facilities are only 72 percent full, but warns households of a "difficult" season to come. Also in the show: the UK government tries to cushion the impact of high energy bills, and 200 passengers are stranded in Cambodia after their multi-year cruise was cancelled because of high fuel costs.

Politics

French Senate debates new 'rioters pay' bill

As thousands of French businesses grapple with the fallout from recent riots, French senators are debating a new bill aimed at making not only the perpetrators but also those belonging to the same group pay for damages. The idea of "collective civil liability" divides lawmakers, with opponents saying it could potentially violate people's democratic rights to protest as some might stay clear of demonstrations for fear of being in the wrong place at the wrong time.

World

Anthropic files for mammoth IPO as revenues and losses mount

US artificial intelligence giant Anthropic files public regulatory paperwork as it gets set to launch on the stock market. Also in this edition: France plans a special disaster fund for businesses hit by riots and looting, and Apple's new top-of-the-line folding iPhone screen shows some unwanted lines of its own.

World

Anthropic's IPO filing shows soaring sales and steep losses

AI giant Anthropic has publicly filed for an initial public offering (IPO) with US market regulators. The document offered a glimpse into the company's finances but also contained nearly 100 pages related to risks around investing in the firm. The filing revealed that in the first half of 2026, its revenue soared to $16.3 billion while its net loss widened to over $80 billion. Plus: London's iconic Oxford Street, one of Europe's busiest shopping areas, has been partially pedestrianised.

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World

Italy's trucker protests halt buffalo mozzarella production, cost producers €3 million

Italy's diesel-price protest halts buffalo mozzarella production, with producers estimating €3 million in losses in just 24 hours as milk fails to reach dairies and finished cheeses cannot reach customers. In banking, Barclays announces it will cut around 5,000 jobs – roughly 5 percent of its workforce – as it uses artificial intelligence to reduce costs. This comes as Nvidia chief executive Jensen Huang urges "responsible optimism" on AI in Berlin, even as AI-exposed stocks slide.

Politics

Meta's Zuckerberg pitches AI successes to investors with 26% rise in quarterly revenue

Meta Platforms CEO Mark Zuckerberg touted the company's progress on artificial intelligence during an earnings call on Wednesday and called for more investment. The tech giant's Muse AI agent has garnered 10 million users since its launch six weeks ago, while third-quarter revenue rose to $64.6 billion. Meanwhile, the company is accused of political interference in Brazil's presidential election. Also in this edition, we check in on France's rising borrowing costs.

World

French bond yields hit 24-year high after unrest

French bond yields have topped 5 percent, their highest level since 2002, after widespread protests and violence over the weekend. It's a sign that investors are losing confidence in France's finances, as the government grapples with budget and debt problems. Also in the show: chipmaker Nvidia says it's invested $10 billion in European tech firms to boost the "AI economy", and the UK approves a controversial natural gas field as PM Andy Burnham faces pressure over energy costs.

Topic: Business | RocksNews